How To Use A CoinSmart Referral Code - Comparewise
How to Use a CoinSmart Referral Code

How to Use a CoinSmart Referral Code

Are you wondering about how to use a CoinSmart referral code? This article will explain to you the step-by-step procedures involved in using a CoinSmart promo code to claim a bonus.

You will also get to understand how the referral program works and the steps involved in getting started with this popular crypto exchange platform.

Using a CoinSmart referral code is quite easy. The first thing you need to do is to create an account using the referral link you have. Afterward, deposit into your wallet the minimum amount required to claim the bonus.

Some affiliated sites to CoinSmart give you a promo link that gets you up to $50 as a bonus. So what is this crypto exchange platform? And is it legit?

What is CoinSmart?

CoinSmart is a crypto exchange platform that was launched in 2018 by Justin Hartzman and his colleagues. They are a team of web developers who have thrived in the tech space for over a decade. Their push to create this platform was to make payments in cryptocurrencies easy for everyone.

Today, the platform allows traders to exchange up to sixteen cryptocurrencies, including BTC and ETH. Traders can verify their ID quickly using Equifax on the platform. Also, CoinSmart allows you to receive invoices in cryptocurrency.

The popularity CoinSmart gained in the crypto space can also be linked to its legitimacy. The platform is registered with FINTRAC as a finance business, and the federal authority regulates its activities.

Currently, they are present in about fifteen countries in Europe and provide services to about 200,000 Canadians. With a net worth of assets of about $71 million, CoinSmart is rated among the leading crypto exchanges in Canada.

What is a CoinSmart referral code?

The CoinSmart referral code is a link that gets you to the platform as a newbie. You can get up to $50 as a sign-up bonus upon completing the registration process and depositing the required minimum amount in your wallet. This amount ranges between $100 and $200 depending on the update of the platform.

how to use a coinsmart referral code - comparewise

How to use a CoinSmart referral code?

Here are step-by-step guidelines on how to use a CoinSmart referral code and claim your sign-up bonus.

The first thing to do is to visit the platform using the referral link you’ve got. Then begin the registration process by filling in your details to create your wallet.

The next step is to verify your ID. The platform wants to be certain that you are human and reduce the possibility of fraud. You can be done in a few minutes thanks to the Equifax ID verification process on CoinSmart. However, not everyone gets a smooth ride with this.

If you have difficulty getting verified through Equifax, you can upload your documents. In this case, you will upload both sides of your ID card that is issued by the government, a live selfie, and a utility payment receipt. The receipt might be rejected if your name and address do not appear clearly on it.

The next step is to verify your phone number and email address. In this case, you will be prompted to input the code sent to your email and phone number for verification.

The last step is to claim your referral bonus. Here you have to deposit a certain amount into your wallet. This amount varies depending on the type of promo link you’ve got. You can deposit using any of the supported currencies on CoinSmart, which includes EUR, CAD, JPY, USD, and GBP.

Once you have made the deposit, your bonus is credited to your wallet and can be used to trade on the platform.

How does the CoinSmart referral program work?

The CoinSmart referral program works similarly to that of other businesses. You bring a customer and get a referral bonus. The customer gets a sign-up bonus, and the business owner makes a profit from the trades of the customer. It is a win-win for all the parties involved.

Every account on CoinSmart can benefit from this referral program. Here is how to go about it.

First, get to your dashboard and locate your referral link then copy it. You can share this link with friends across different social media sites.

Your friends will use your link to complete their registration process on CoinSmart. You will receive your referral bonus which is equivalent to their sign-up bonus, once they make the required minimum deposit into their wallet.

So, if they are getting a sign-up bonus of $50, you will get the same amount per person who signed up using your link. If about 20 people signed up using your link and deposits the minimum required amount, you will get $1000 as a referral bonus.

Cryptocurrencies on CoinSmart

Having understood how to use a CoinSmart referral code and have received your sign-up bonus, you might wonder – what next? Well, the next step will be to trade cryptocurrencies using this exchange platform.

CoinSmart has about sixteen cryptocurrencies with which you can trade. They include; Litecoin, Ethereum, Bitcoin Cash, Bitcoin Dogecoin, Solana, USDC, XLM, MATIC, DOT, ADA, AVAX, EOS, LINK, SHIB, and UNI.

Initially, there were only nine cryptocurrencies on CoinSmart. That amount has increased to sixteen, and there is hope that the exchange platform will support more coins in the near future.

Deposit, withdrawal, and trading fees on CoinSmart

Funding your wallet, withdrawing, or trading on the platform might prompt you to pay some fees. Here is an insight into the transaction fees on CoinSmart.

Deposit Fees

CoinSmart offers a lot of funding options which include;

Interac e-Transfer

With this method, you can deposit minimum funds of $100 and a maximum of $10,000. All funds are credited to your wallet the same day. Also, all deposits below $2,000 will require a transaction fee of 1.5% when using Interac e-transfer.

So, if you deposit $200 using this method, you will pay $3 as funding fees. However, when you fund your wallet with an amount that is above $2,000, you will pay no funding fees.

Bank Wire

This method is great for large funds. You can fund your CoinSmart wallet with a minimum amount of $10,000 and a maximum amount of $5,000,000 using a bank wire.

Another amazing feature of this method of wallet funding is that funding is free. Also, your wallet gets funded the same day transaction is initiated.

Bank Draft

Funding your wallet with a bank draft is also nice. However, you can only deposit a minimum of $500 and a maximum amount of $5,000 using this funding method.

The good news is that your wallet will get Funded the same day you initiate the transaction, and you will pay 0% transaction fees.

Credit or Debit Cards Option

If you have funds on your credit or debit cards, you can use this option. The minimum amount you can deposit into your wallet using this option is $100, and the maximum is $5,000. However, it comes with transaction fees that are up to 6%.

So if you deposit $200 into your CoinSmart wallet using your credit card, you might pay about $12 as funding fees. The good news is that your CoinSmart wallet gets funded instantly.


A single euro payment area (SEPA) is another method by which you can fund your CoinSmart wallet. With this method, you can deposit a minimum amount of 50€ and a maximum amount of 5,000,000€.

The good news is that there are no transaction fees for this method, but your funds arrive in your wallet in about one to three working days.


You can fund your CoinSmart wallet by transferring cryptocurrencies into your wallet. There are no transaction fees for this method of wallet funding.

Withdrawal Fees

Your referral bonus is sitting in your wallet after following carefully the steps on how to use a CoinSmart referral code. You have more funds from the deposit you made and from a few trades on the platform.

So, you might want to withdraw your funds. Here are some of the withdrawal options on CoinSmart and the transaction fees required.

Electronic Funds Transfer

Using this withdrawal method, you can withdraw a minimum amount of $50 and a maximum amount of $10,000. The transaction fee for the minimum withdrawal is $15 and for the maximum withdrawal is 1% of the withdrawal amount. Your funds are fully processed within one to five working days.

Bank Wire

Using bank wire, you can withdraw a minimum of $10,000 while paying about $15 as transaction fees. The maximum withdrawal amount for this method is $5,000,000 at 1% transaction fees. Once the transaction is initiated, your funds are fully processed within one to five working days.


This is another withdrawal option on CoinSmart. The good news is that there are no transaction fees. The minimum withdrawal is 50€, and the maximum is 5,000,000€.


Withdrawing funds as cryptocurrencies is another withdrawal option on CoinSmart. The fees charged using this method are the same, no matter the amount of crypto you are withdrawing. For withdrawing BTC, you will pay 0.00025BTC. Other cryptocurrencies on the platform have stipulated withdrawal fees.

Trading Fees

Trading is the next step after earning your referral bonus once you get accustomed to how to use a CoinSmart referral code. However, trading on CoinSmart cones with small transaction fees. When you are making a single trade, you will pay 0.2% transaction fees, while for double trades, the transaction fee is 0.4%.

CoinSmart premium

This is a package on the CoinSmart platform, which comes with over-the-counter (OTC) and brokerage benefits for its subscribers. The brokerage benefit allows you to link buyers and sellers with coins that have been authenticated. The OTC gives you the following benefits:

  • Opportunity to settle your funds the same day they are initiated irrespective of the amount.
  • A very competitive pricing option.
  • Quick KYC/AML verification.
  • An account manager that will guide through your trades.
  • More liquidity.
  • Market insight for better trading decisions.

Accepting crypto payments using CoinSmart

Learning how to use a CoinSmart referral code can avail you of the opportunity to use the platform to accept payments in cryptocurrency. Your received payments will not be affected by crypto volatility.

The Smart pay feature of CoinSmart will automatically sell your crypto receipt every time a payment is made and fund your bank account instantly.

CoinSmart pros

  • It is registered on FINTRAC and regulated.
  • It conducts quick ID verification via Equifax.
  • It supports crypto invoicing.
  • It supports the trading of different pairs of cryptocurrencies.
  • Less trading and transaction fees.
  • Live support from CoinSmart customer care.

CoinSmart cons

  • A referral bonus cannot be claimed until a minimum deposit fee of about $100 to $200 is made.
  • CoinSmart supports only sixteen cryptocurrencies.

How to use a CoinSmart referral code conclusion

CoinSmart is an amazing exchange platform that is easy to navigate by newbies and experts in the crypto space. The above article on how to use a CoinSmart referral code will help you earn your sign-up bonus.

However, you might want to learn about the minimum deposit required for you to receive your sign-up bonus before getting started.

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FAQs about how to use a CoinSmart referral code

Is CoinSmart legitimate?

Yes, CoinSmart is legitimate. The platform is a registered money business service (MBS)  under FINTRAC. This makes them abide by the finance laws. Also, CoinSmart is regulated by the Canadian government.

Is CoinSmart secured?

CoinSmart strives to keep all assets on its platform safe and secured through 2FA and cold storage. Account holders can enable the two-factor authentication security option through their dashboard to keep their assets safe. They could also store their asset on cold wallets using bitgo on the platform.

Is CoinSmart better than Coinbase?

Coinbase is one of the pioneer cryptocurrency exchange platforms supporting over 170 crypto coins. It is a leading exchanger in the US. CoinSmart, on the other hand, is a leading cryptocurrency exchanger in Canada, which supports about sixteen crypto coins.

Does CoinSmart support withdrawal via Interac?

CoinSmart does not support withdrawal via Interac. However, they support deposits via Interac e-transfer. Some of the withdrawal methods that are supported by CoinSmart are SEPA, electronic funds transfer, and bank wire.

Where can you get a CoinSmart Referral Link?

You can find your CoinSmart referral link by visiting your dashboard on the account section of the CoinSmart platform. Once you copy your link from your dashboard, you can share it with your friends on social media platforms.


April 30, 2023
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