How To Buy Bitcoin & Ethereum On CoinSmart In 5 Easy Steps

If you’re interested in investing in cryptocurrency but have no idea where or how to begin, then CoinSmart is perfect for you.

An extremely user-friendly cryptocurrency platform, CoinSmart is Canada’s answer to the quick-rising crypto industry. Here's how it works so you'll know how to buy Bitcoin and Ethereum on the platform. Let’s take a look.

CoinSmart Review

Founded in 2018 by Justin Hartzman and Jeremy Koven, CoinSmart is Canada’s solution for Canadians who are finding difficulty in using and getting verified in other crypto exchanges and platforms. The platform is focused on being beginner-friendly while addressing the many challenges that Canadian traders are facing with crypto.

The result is a platform that has fast verification, provides educational resources and tools, bank-grade security, an easy-to-use interface and a wide range of options in the fiat currencies, which you can use to fund your account.

For more advanced traders, the platform also offers advanced features including graphs, market comparisons, day-to-day prices and rates. In terms of charting, anyone can start taking advantage of CoinSmart’s TradingView Technology, which provides technical analysis.

The platform also provides 24/7 support, including a toll-free number for different regions in Canada. If you wish to go solo, then there’s always the comprehensive knowledge base and FAQ section, with the resources conveniently classified as “smart,” “savvy” and “genius” levels.

Much of the platform is geared towards beginners, making for a seamless crypto experience from start to finish.

How to Buy Bitcoin & Ethereum on CoinSmart

Buying (and selling) crypto on the CoinSmart app is easy. If you want to add Bitcoin and Ethereum (or any other available crypto) to your portfolio, here are five simple steps on how to do it.

1. Create a CoinSmart Account

As long as you have the required credentials, this will be easy. Just visit CoinSmart, click “Create an Account” and fill out the preliminary information. Then, confirm your email address and get instantly verified in as fast as a few minutes.

Once you are verified, you can link your debit/credit card and make a deposit to fund your account with CAD. Compared to other exchanges, this sign-up process is incredibly easy and hassle-free and you can start buying, selling and trading crypto the same day you create your account.

Note that if CoinSmart isn’t able to immediately verify you, all you need is a government-issued ID, a selfie with the ID and a copy of your recent utility bill.

2. Buy Your Crypto

Once you’ve logged into your account, click on the “Buy/Sell/Trade” option on the top menu. You will then be asked whether you want to buy, sell, or trade crypto. Click the first option and it will take you to a different menu.

3. Choose Your Crypto

Choose from either Bitcoin (BTC) or Ethereum (ETH) from the list of cryptos that are available. Note that at the bottom of the screen, you will see how much funds you have in your account and how much is its equivalent in crypto.

Aside from BTC and ETH, CoinSmart also offers:

• Bitcoin (BTC)
• Ethereum (ETH)
• Litecoin (LTC)
• Dogecoin (DOGE)
• UniSwap (UNI)
• Chainlink (LINK)
• Polkadot (DOT)
• USDC
• Shiba Inu (SHIB)
• Cardano (ADA)
• Stellar (XLM)
• Bitcoin Cash (BCH)
• EOS

4. Enter the Quantity You’d Like to Buy

Once you've decided on your preferred cryptocurrency, you can put how much of your funds you want to use. A preview will pop up showing how much crypto you’re buying, as well as its current price.

5. Finish the Transaction

Complete the transaction by clicking “Buy now.” From here, the crypto funds will be automatically added to your wallet where it will be kept safe until you access it. You can either hold, sell or trade it with other cryptocurrency users on CoinSmart or other crypto exchanges.

CoinSmart Fees

One of the biggest pros of using CoinSmart is how competitive its fees are and how straightforward the pricing is.

Deposit fees:

• E-mail money transfer - 1.5%
• 0% for E-mail money transfer of $2000 plus
• Credit cards - 8.75% (Min $10 fee)
• Wire transfer - none

Withdrawal fees:

• Electronic funds transfer - 1%
• Wire - 1%

Trading fees:

• As low as 0.2-0.4% (depending on the asset)

The platform also offers a Smart Guarantee that lets you receive fund withdrawals on the same day, as well as a referral program that provides CAD15 for every friend that opens an account and deposits at least $100.

Conclusion

While still somewhat new, CoinSmart is already one of the most impressive crypto exchanges around. In addition to being beginner-friendly, the fully-regulated FINTRAC-registered Money Service Business provides an easy trading platform for anyone who wants to invest in crypto.

It has also made buying the crypto of your choice more accessible and the competitive fees and impressive features are sure to entice you.

Buy your first crypto asset via CoinSmart by clicking here.