About Coinsquare
Coinsquare is a Canadian-based cryptocurrency exchange established in 2014. Designed initially for the Canadian market, it now offers services to select international clients, including those in Europe. Through its platform, users can buy, sell, and trade a variety of major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC). For funding, Coinsquare supports Canadian Dollar (CAD) and, notably for European users, Euro (EUR) through SEPA bank transfers—enabling both deposits and withdrawals in the Eurozone.
The platform emphasizes regulatory compliance, being closely regulated under Canadian law, which contributes to its reputation for trustworthiness and security. Users benefit from robust security practices like two-factor authentication, cold storage of digital assets, and mandatory anti-money laundering (AML) and know-your-customer (KYC) checks. Additional features include an OTC (over-the-counter) trading desk for large trades, staking options on select coins, and dedicated customer support.
While the interface is accessible via web and mobile app (iOS and Android), Coinsquare caters mainly to everyday investors and traders seeking security and straightforward trading, rather than advanced features. For European users, the prospect of Euro support is a notable benefit, though the platform remains primarily focused on Canadian operations and compliance.
Pro's of using Coinsquare
- Regulated and Trusted: Operates under strict Canadian financial regulations, providing strong consumer protections.
- Euro Support: Allows Euro deposits and withdrawals via SEPA, making it accessible for European users.
- Strong Security: Employs two-factor authentication, cold storage, and insurance measures for crypto assets.
- User-Friendly Platform: Intuitive interface suitable for beginners and casual traders.
- Responsive Customer Support: Generally good reputation for client service and issue resolution.
- Mobile Access: Dedicated mobile apps for convenient trading.
Con's of using Coinsquare
- Limited European Localisation: European users face a primarily Canadian-oriented experience; the platform lacks tailored European features and services.
- Higher Fees: Trading and withdrawal fees are typically higher than those of European competitors, especially for Euro transactions.
- Fewer Advanced Tools: Does not support margin trading, derivatives, or a wide range of order types found on advanced exchanges.
- Narrower Cryptocurrency Selection: Offers fewer tokens and crypto products compared to major global exchanges.
- Lengthy Verification: Account verification (KYC) can take longer than on some European-focused platforms.
- No Integrated Euro Wallet: Euro transactions are handled via SEPA transfers but lack a native on-platform Euro wallet.
What are alternatives for Coinsquare
- Kraken: US-based, but highly regarded in Europe for advanced trading features, strong Euro support via SEPA, low fees, and rigorous security.
- Bitstamp: Luxembourg-based; Europe-regulated, offers Euro-denominated accounts, SEPA support, and solid reputation for safety.
- Coinbase Pro (Europe): US-based but extensive European presence, user-friendly, secure, and offers robust Euro support.
- Binance (Europe): Global leader with large crypto selection, advanced trading tools, and multiple Euro funding options, though facing increased regulatory scrutiny in Europe.
- Bitpanda: Austria-based platform with broad Euro funding options and a simple interface, also offering stocks and precious metals alongside crypto.
These alternatives generally offer better Euro integration, lower fees, and more features for users in the Eurozone.