Our review of Coinmerce crypto platform 3.5/5

Why trust Hellosafe?

HelloSafe is an expert in financial products, advising more than a million users every month. Our experts have tested the services of dozens of brokers around the world, opening accounts and carrying out real transactions. Discover our full review of this platform.

Coinmerce in brief

Our opinion of Coinmerce

Coinmerce is a Netherlands-based cryptocurrency platform that offers a large selection of digital assets, making it appealing for investors looking to diversify their portfolios. We liked its user-friendly interface, which makes it easy to buy, sell, and stake cryptocurrencies. The availability of over 200 assets is a strong advantage compared to some competitors with a more limited selection. Additionally, the platform provides staking opportunities, allowing users to earn passive income on certain holdings.

However, we would have liked to see more transparency in the fee structure, as trading fees start at 0.25% but can fluctuate depending on the asset and liquidity conditions. The lack of clear pricing details makes it difficult to anticipate the final cost of transactions, especially for new users. Another limitation is the focus on European banking options, making deposits and withdrawals less convenient for Canadian users who may not have access to SEPA transfers.

Customer support is available via email and live chat, but we found the response times to be inconsistent. There is no phone support, which may be frustrating for users needing urgent assistance. Additionally, the absence of a crypto card, NFT marketplace, or advanced trading features like margin or derivatives makes Coinmerce less attractive for professional traders.

Who is Coinmerce best for?

Coinmerce is best suited for casual crypto investors who prioritize ease of use and a wide selection of assets but do not require advanced trading tools or low-cost transactions.

Before you zero in on Coinmerce, compare the best crypto platforms in Canada:

Let's find out more about our test results on Coinmerce.

Reliability and Security 2.5/5

Coinmerce, established in 2017 in the Netherlands, has been operating for over six years. While specific user numbers are not publicly disclosed, the platform has garnered a moderate user base, primarily within Europe. There is no public information indicating that Coinmerce has received any notable awards or prizes to date.

For Canadian traders, it's important to note that Coinmerce is not registered with Canadian regulatory authorities such as the Ontario Securities Commission (OSC), the British Columbia Securities Commission (BCSC), or the Alberta Securities Commission (ASC). This lack of Canadian regulatory oversight may raise concerns regarding investor protection and compliance with local financial regulations.

To assist users in managing risk, Coinmerce offers features such as two-factor authentication (2FA) and stop-limit orders. However, the platform does not provide advanced risk management tools commonly found on other exchanges, such as insurance funds or guaranteed stop-loss orders.

Cryptocurrencies Available 4/5

Coinmerce is positioned as a European-focused cryptocurrency platform that offers a wide selection of digital assets, making it appealing for users who want access to a diverse range of cryptocurrencies. Unlike Bitcoin-only platforms, Coinmerce supports altcoins and staking, providing investors with more opportunities for diversification. However, the platform lacks NFT support and advanced trading features like futures or derivatives, which are common among larger global exchanges.

Below is a comparison of available asset types on Coinmerce versus the market average:

Our opinion on Coinmerce's offerings

With over 200 supported cryptocurrencies, Coinmerce scores big for asset diversity. While it provides a broad selection of tradable digital assets, it falls short in offering NFTs, futures trading, or specialized financial products, making it less suitable for professional traders or NFT investors.

Services and Tools 3.5/5

Coinmerce offers a variety of services beyond simple crypto trading, but it lacks some key financial tools found on larger platforms. While users have access to staking and a crypto card, the absence of lending, borrowing, and farming makes it less competitive for users looking to generate passive income or leverage their assets.

• Crypto card: ✅ Available – Users can spend their crypto directly with a Coinmerce card, a feature not always available on smaller exchanges.
• Lending & Borrowing: ❌ Not available – Users cannot lend or borrow crypto to earn interest or take out crypto-backed loans.
• Staking: ✅ Available – Users can stake certain cryptocurrencies and earn rewards, though staking options are more limited compared to major exchanges.
• Farming: ❌ Not available – No options for yield farming or DeFi-related passive income services.
• Instant Buy & Sell: ✅ Available – Users can quickly purchase or sell cryptocurrencies using various payment methods, including SEPA transfers and credit cards.
• Recurring Purchases (DCA): ✅ Available – Users can automate Bitcoin and crypto purchases over time through a dollar-cost averaging (DCA) strategy.

Fees and Commissions 3/5

Coinmerce positions itself as a user-friendly cryptocurrency platform offering a wide range of digital assets. However, its fee structure and associated costs may not be as competitive as some other exchanges.

Coinmerce charges a variable trading fee starting at 0.2%, which can increase depending on factors like asset liquidity and market conditions. This variability can make it challenging for traders to predict transaction costs accurately.

Comparison of Trading Fees:

Below is a comparison of Coinmerce's trading fees for popular cryptocurrencies against the market average:

Note: Market average fees are approximate and can vary among different exchanges.

Other Fees:

• Deposit Fees: Coinmerce does not charge fees for depositing cryptocurrencies. However, depositing fiat currencies may incur fees depending on the payment method used.
• Withdrawal Fees: Withdrawing cryptocurrencies from Coinmerce incurs a fee that varies depending on the specific cryptocurrency and current network conditions. For example, the withdrawal fee for Bitcoin is 0.00042 BTC, which is below the global industry average.
• Inactivity Fees: Coinmerce does not impose inactivity fees on user accounts.

One area of concern is the transparency of Coinmerce's fee structure. The variability in trading fees, influenced by factors such as asset liquidity and market conditions, can make it difficult for users to anticipate the exact costs of their transactions. This lack of clarity may be a drawback for traders who prioritize predictable fee structures.

Our opinion on Coinmerce's fees and commissions

Considering the variable nature of its trading fees and the challenges in fee transparency, Coinmerce scores just above average for its fee and commission structure. While it offers a broad selection of cryptocurrencies and user-friendly services, traders should be mindful of the potential for higher fees, especially for assets with lower liquidity.

Customer Reviews 4/5

Coinmerce has a Trustpilot rating of 4.0/5 based on 1,123 reviews, indicating a generally positive user experience, though some users have raised concerns about fees, customer support, and transaction delays.

Here are some recent reviews from Canadian users:

• Michael R (January 15, 2025): "I was looking for a platform to buy and stake some altcoins, and Coinmerce seemed like a solid choice. The interface is easy to use, and I had no issues depositing funds using SEPA. However, when I tried to withdraw my Bitcoin, the network fee was much higher than expected. Also, customer support took over 24 hours to respond to my ticket, which was frustrating. It’s a decent exchange, but fee transparency could be better."
• Sarah L (November 28, 2024): "I’ve been using Coinmerce for a few months now, and I love the variety of coins available. It’s easy to make instant purchases, and I appreciate that they offer staking rewards on certain assets. That said, I wish they had better deposit options for Canadians since SEPA transfers are not ideal here. I had to use my credit card, which meant extra fees. Still, it’s a good platform if you want a simple way to trade."
• Daniel S (September 10, 2024): "I tried Coinmerce because of its large crypto selection, but I had issues with pricing transparency. The fees were unclear, and the final amount I paid was more than what was displayed when placing my order. Additionally, I found out after signing up that it’s not regulated in Canada, which makes me a bit uneasy. I’d recommend it only for small trades, but I wouldn’t keep large amounts here."

How does Coinmerce compare to other Crypto brokers?

Coinmerce is positioned as a crypto platform with a wide selection of assets, but it lacks certain financial services and regulatory oversight for Canadian users. Below is a comparison of its key features against three other brokers.

Conclusion of our analysis of Coinmerce

Coinmerce provides a broad selection of cryptocurrencies and an intuitive user experience, making it suitable for casual traders. We liked the availability of staking and the crypto card, which adds convenience for users who want to spend their crypto. The platform also makes instant buying and recurring purchases simple, which is ideal for those looking to automate their investments.

However, we would have liked to see more transparency in trading fees, as the platform applies variable pricing that can be higher for certain assets. The lack of NFT support and advanced trading options like margin and futures also makes it less competitive for professional traders. Additionally, the lack of Canadian regulatory registration may be a concern for users looking for local investor protections.

Before opening an account on Coinmerce, compare the best crypto brokers and platforms in Canada:

What types of accounts are available with Coinmerce?

Coinmerce offers a structured account system designed to cater to users with varying levels of trading activity and verification requirements. Below is a summary table outlining the different account types and their key characteristics:

Each account type is tailored to meet specific user needs and compliance standards.

Registered Account

The Registered account is the entry-level tier, requiring only basic information such as email verification. At this level, users can access the platform but are not permitted to conduct trading activities. This account serves as an initial step for users to explore the platform before proceeding to higher verification levels.

Verified Account

Upon completing identity verification and linking a bank account, users are upgraded to the Verified account. This level allows for active trading with deposit and withdrawal limits set at €20,000 per day and €60,000 per week, and an individual order limit of €10,000. The verification process includes submitting a valid government-issued ID and verifying the bank account through a small transfer, ensuring compliance with financial regulations.

Pro Account

For users requiring higher transaction limits, the Pro account offers customized deposit, withdrawal, and order limits. Attaining this level involves providing proof of residence, evidence of the source of funds, and participating in a video interview. This comprehensive verification process is designed to meet the needs of high-volume traders while adhering to stringent compliance standards.

How do deposits and withdrawals work with Coinmerce?

Coinmerce offers a variety of deposit and withdrawal methods to accommodate its users. Below is a summary of the available options, including supported currencies, processing times, and associated fees:

Note: Withdrawal fees for cryptocurrencies depend on the specific blockchain network fees at the time of the transaction.

Compared to other cryptocurrency exchanges, Coinmerce provides a comprehensive range of deposit and withdrawal options, particularly for European users. The availability of instant deposit methods like iDEAL and SOFORT offers convenience, though they may incur additional fees. SEPA bank transfers are a cost-effective option, especially for withdrawals, as they are free and typically processed within 1–2 business days.

However, for users outside the Eurozone, such as those in Canada, the platform's focus on EUR-based payment methods may present challenges, including currency conversion fees and longer processing times. Additionally, while cryptocurrency deposits are free, withdrawal fees are subject to network conditions, which can lead to variability in costs.

Does Coinmerce offer crypto staking?

Coinmerce provides both crypto staking and lending functionalities, allowing users to earn passive income through their digital assets.

Crypto Staking

Staking involves participating in transaction validation on a Proof-of-Stake (PoS) blockchain, enabling users to earn rewards by holding and "staking" their cryptocurrencies.

Coinmerce supports staking for over 40 cryptocurrencies, with annual rewards varying between 0.5% and 10%. The platform offers a flexible staking model, allowing users to access their assets at any time without a lock-up period.

Below is a selection of available cryptocurrencies for staking on Coinmerce, along with their estimated annual yields:

Note: The above yields are estimates and can vary based on network conditions and platform policies.

Crypto Lending

In addition to staking, Coinmerce offers a lending feature through its "Earn" program, supporting 42 different cryptocurrencies and stablecoins. Returns for this program range between 0.5% and 10%, depending on the specific asset.

The Earn program allows users to lend their assets to the platform, which in turn utilizes them in various strategies to generate returns. This provides an opportunity for users to earn passive income without actively managing their holdings.

How are revenues generated by Coinmerce taxed?

In Canada, income generated from trading cryptocurrency on Coinmerce is taxable, as the Canada Revenue Agency (CRA) considers crypto assets to be property rather than currency. Any profits or losses from buying, selling, or trading cryptocurrencies must be reported for tax purposes.

How crypto trading is taxed in Canada

• Capital Gains Tax: If cryptocurrencies are bought and sold as an investment, any profit made is considered a capital gain, and only 50% of the gain is taxable at the individual's marginal tax rate. If sold at a loss, the loss can be used to offset other capital gains.
• Business Income Tax: If trading is frequent and resembles business activity, it may be classified as business income, meaning 100% of the profit is taxable. Business-related expenses may be deducted in this case.
• Crypto Staking & Lending Income: Any staking rewards, lending interest, or passive income earned from crypto holdings is considered taxable income and must be declared as business or investment income.

How to declare crypto trading income

• Keep Detailed Records: The CRA requires taxpayers to track and document all crypto transactions, including dates, purchase prices, sale prices, fees, and fair market value in CAD at the time of each trade.
• Report on Your Tax Return:
• For capital gains, use Schedule 3 (Capital Gains and Losses) when filing your T1 Income Tax Return.
• For business income, report earnings in the business income section of the tax return.
• For staking or lending income, declare it as investment income on the tax return.
• Convert Crypto to CAD for Tax Reporting: All cryptocurrency transactions must be reported in Canadian dollars (CAD), using the fair market exchange rate at the time of each transaction.

Good to know

Coinmerce does not provide Canadian tax reporting tools, meaning users must track their transactions manually or use third-party crypto tax software to generate reports. Failure to report crypto income accurately can lead to CRA audits, penalties, and interest charges. Consulting a tax professional is recommended for users with high trading volumes, staking income, or complex transactions to ensure full compliance with Canadian tax laws.

Contact: How to contact Coinmerce customer service?

FAQs

Nishadh Mohammed

Nishadh Mohammed is a seasoned news editor and financial writer, working with HelloSafe since May 2023. Nishadh has developed expertise in financial markets, insurance, and investment products, with a deep understanding of the Canadian financial landscape. He has honed his SEO skills and content marketing strategies while writing for Canadian publishing houses. Armed with a master's in Business Analytics and extensive journalistic experience, Nishadh uniquely combines data proficiency and thorough research to deliver comprehensive and accessible information.