Coinsquare Review: Is It Right for Canadian Crypto Users?

Coinsquare is a Canadian centralized exchange where you can buy, sell and trade more than 60 cryptocurrencies. The company advertises over 3,000 trading pairs, giving you options beyond buying crypto directly with Canadian dollars. It offers a simplified trading app as well as products aimed at more experienced customers, and says users can contact its customer-success team through in-app support.

Coinsquare also offers staking on a growing list of supported coins, advertising rewards of up to 12.77%. Treat that as a ceiling, not a promised return: rewards can vary, and staking can involve asset-specific eligibility, payout and withdrawal conditions. Read those terms before committing funds.

The homepage says Coinsquare is now part of Robinhood. That does not change the basic exchange model: you hold an account with a centralized service, rather than controlling the private keys to exchange-held assets. The listed chain names include Bitcoin, Ethereum, Solana, Avalanche and others, but confirm the exact deposit network Coinsquare supports for an asset before transferring it.

Coinsquare’s total cost depends on the transaction. Its fee information says crypto deposits are free, but that does not establish that bank or Interac deposits, trades, or withdrawals are free. Check the live fee schedule and transaction preview before confirming; fees and spreads can affect what you receive even when there is no separate deposit charge.

Coinsquare does not publish a complete fee breakdown in the details presented here, including the rates for each trading method and the costs of withdrawing cash or crypto. Do not assume that a quick-buy quote and an advanced trading order have the same pricing. Compare the quoted price with the amount you expect to receive, and account for any blockchain network fee when withdrawing crypto.

For staking, the advertised reward rate is not the same as a guaranteed net return. The rate may vary by coin, and the terms can affect access to your assets. Review the current rate and withdrawal conditions for your chosen coin before staking.

Coinsquare says it is registered as a CIRO investment dealer and marketplace member. It also says client assets are held in trust with external custodians, naming Coinbase Custody and BitGo Trust Company. Those measures are relevant safeguards, but they do not remove the risks of exchange custody, operational failure or loss in crypto markets. Coinsquare does not identify a public platform audit in the details presented here.

The company says client cash is covered by the Canadian Investment Protection Fund up to CAD $1 million per account if the firm becomes insolvent and cash is unavailable. That statement concerns cash, not crypto holdings. Do not treat CIPF as insurance for the value or availability of coins in your account. Coinsquare also cites combined insurance held by its custodians; that is not the same as a guarantee that every customer loss will be reimbursed.

If you plan to hold crypto for the long term, consider whether exchange custody fits your risk tolerance. Moving assets to a wallet you control reduces reliance on the exchange, but makes you responsible for protecting your recovery phrase and handling transactions correctly.

Coinsquare’s stated funding options include Interac e-Transfer and bank transfer for Canadian-dollar deposits. Its signup guidance says you must create an account and complete identity verification before trading. KYC is a normal part of a regulated Canadian exchange, so be prepared to provide personal details and follow any additional checks the platform requires.

The service is available through iOS and Android apps, and Coinsquare promotes in-app support. It describes its basic trading app as suitable for newer users and offers a separate wealth service with dedicated CIRO-registered investment representatives. Check which product and account type you are opening, as the experience and applicable terms may differ.

Coinsquare does not publish its withdrawal limits or a clear estimate of withdrawal processing times in the details presented here. Before sending funds in, confirm the available withdrawal methods, limits and expected timing in your account. For crypto transfers, verify the asset and network match on both sides; a wrong network or address can result in an irreversible loss.

Coinsquare’s main advantage is its Canada-focused combination of Canadian-dollar funding, a broad advertised range of crypto and a regulated-dealer registration. The app and customer-support offering may appeal if you want a single service for routine buying and selling rather than managing wallets and exchanges yourself. Its staking product is an added option, but the headline maximum should not drive your decision without reviewing the asset-specific terms.

There are important limits. Coinsquare is custodial, so you rely on the platform and its custody arrangements for access to exchange-held crypto. The CIPF protection described by Coinsquare applies to qualifying cash, not crypto. Fee details, withdrawal limits and timing need checking before you commit money, and staking rewards are not guaranteed.

Coinsquare is a poor fit if self-custody is a priority, if you need costs and withdrawal rules spelled out upfront, or if you want a staking return without lock-up or market risk. Compare the exact coin availability, network, fees and account terms with your needs before choosing it.