RIP Coinberry: Here Are The Best Alternatives

Coinberry has ceased operations effective July, 2023. The move came one year after it was acquired by WonderFI, Bitbuy’s parent company. Not only was Coinberry a prominent cryptocurrency exchange in Canada, but it was also among the first to be regulated. Featuring a modest selection of the top coins, quick deposits, and a streamlined sign-up process, Coinberry was ideal for beginners. If you’re bummed about the loss of yet another Canadian crypto exchange, here are the best Coinberry alternatives to consider.

What We Loved About Coinberry

Once a leading name among Canadian crypto asset trading platforms, Coinberry was beloved for its intuitive interface, making it the preferred choice for new crypto converts. It supported popular the most popular cryptocurrencies like Bitcoin, Ethereum, and Litecoin, and was the first regulated crypto-only platform in Canada.

It was also one of the easiest onramps to the crypto market, allowing you to fund your account by Interac eTransfer, debit card, credit card, and wire transfer. Coinberry quickly won user trust with its simplicity, security, and transparency.

Now that it’s gone, who will fill the fruit-shaped hole in your digital wallet?

Top 3 Coinberry Alternatives in Canada

For those seeking a similar experience, these Coinberry alternatives are ideal for beginners.

Bitbuy: Best Overall

Bitbuy stands out as the best Coinberry substitute, especially since existing Coinberry users have been automatically transferred to this platform. Bitbuy offers a secure and convenient trading experience with an emphasis on regulatory compliance, just like Coinberry.

It offers over 40 coins, robust tools for buying and selling cryptocurrencies, and straightforward interface that appeals to both beginner and experienced traders alike. Trading fees range from 0%-2% depending on trade volume. Funding your account is free with options including Interac e-Transfer, debit card, credit card, Apple Pay, bank wire, and cryptocurrency deposits.

Wealthsimple Trade: Best for Buy & Hold

Wealthsimple Trade is an ideal Coinberry substitute for crypto beginners who prefer to buy and hold instead of actively trading. It features a user-friendly interface for trading over 50 cryptocurrencies, with a simple fee structure that uses a spread between the bid and ask price. This trading fee is tiered based on account type and ranges anywhere from 0.5%-2%.

You can instantly fund your account with up to $50,000 by Visa Debit, Interac eTransfer, transferring from another Wealthsimple account, or by linking an external Canadian bank account. I can also deposit crypto from other wallets. It’s free to fund your account and withdraw from it.

Wealthsimple keeps track of your trades and automatically imports the information into Wealthsimple Tax to make reporting and filing taxes a breeze. If you’re interested in earning passive income from your crypto holding, you can earn up to 11% APY by staking DOT, SOL, ETH, or ADA.

NDAX: Best for Customer Support

The National Digital Asset Exchange, or NDAX for short, offers a friendly gateway for crypto newbies to trade 32 types of coins including the likes of Bitcoin, Ethereum, and massively popular (and controversial) Dogecoin. What sets NDAX apart is its exceptional support system, providing round-the-clock assistance through phone, chat, or email.

Tailored for beginners, NDAX boasts a clean and simple interface, quick CAD transactions, modest fees of only 0.2%, and free deposits. You can fund your account by Interac e-Transfer and wire transfer.

They’ve teamed up with Ledger Vault to safeguard assets with top-tier security measures, ensuring peace of mind with cold storage solutions. NDAX’s track record is solid, with no security breaches since its inception, maintaining a safe trading environment.