Coinsquare Transfer to Wallet: Best How to Guide

Published: May 8, 2024 | Last Updated: May 9, 2024

Markos Koemtzopoulos

Markos Koemtzopoulos is the founder and main writer of ElementalCrypto. He has been a lecturer at the University of Nicosia on cryptocurrencies and DeFi and has taught two courses on crypto and blockchain technology.

In this guide, I will tell you what you need to do to transfer crypto from Coinsquare to a wallet.

I am going to use Guarda as an example but you can do the same with any wallet or exchange. 

These instructions are the same regardless of whether you use Coinsquare Trade or Coinsquare Pro

Steps to Transfer crypto from Coinsquare to a Wallet

  1. Log in to your Coinsquare account
  2. Click on the withdraw tab
coinsquare select withdraw
  1. Select the cryptocurrency you want to transfer. In the screenshot below I have selected Bitcoin
coinsquare select withdrawal asset
  1. Open your crypto wallet and select the coin you want to receive. Next, click on receive. Copy the wallet address. If you have Coinsquare open on your phone and your wallet open on your desktop you can also scan the QR code of the receiving address on your phone. Using a QR code to transfer digital assets leaves less room for manual error. 
copy wallet address
  1. Select the correct network. Coins live on different blockchains. For example, to transfer Bitcoin you want to use the Bitcoin network. But to transfer Ethereum you need to select the Ethereum Network. Sometimes you can find crypto assets that exist on multiple chains. For example, USDT is available on Ethereum, Tron, Solana, and Tezos. In this case, just choose the network with the lowest fees but make sure you have the same network selected on Coinsquare.
  2. Back on Coinsquare paste the recipient address into the field that says Send To
Coinsquare paste address
  1. Next, enter the withdrawal amount. You can enter the amount in crypto or in dollars. 
Coinsquare transfer to wallet enter amount

  1. Click on Request Withdrawal to confirm
  2. A pop-up will appear. Check the transaction fees and click on Request Withdrawal once again
coinsquare to wallet transfer confirm
  1. Confirm the withdrawal in your email
  2. If you have set up two-factor authentication you may also need to confirm by inputting your authentication codes.

How long do Coinsquare wallet transfers take?

It depends on the asset and network you are using. If you are transferring bitcoin you can expect the transaction to go through within the hour. This means that while the Bitcoin will be debited from your account in Coinsquare you will spend some nerve-racking minutes until you see the BTC appear in your external wallet. On the other hand, if you are using Tron or Solana you should see the transaction go through within 5 minutes. 

Can I transfer from Coinsquare to another cryptocurrency exchange?

Yes you can move your crypto to any other crypto exchange by following the same process

  1. ​Navigate to the crypto asset you want to move
  2. Click on receive
  3. Copy the address and paste it into Coinsquare

Check out my list of the best Canadian crypto exchanges here.

Is Coinsquare any good? 

Check out my review Is Coinsquare Legal in Canada for more on this topic.

How much does it cost to transfer crypto from Coinbase to Wallet?

Coinsquare does not charge for crypto withdrawals. It makes its money through trading fees. However, there is a network fee that you need to pay to people who confirm transactions on blockchains. These guys are known as miners of validators. The amount you pay depends on the blockchain and how congested it is at the time. If you use Ethereum it can be significant for small transfer amounts during periods of high congestion. 

Can I transfer fiat currencies from Coinsquare to my wallet?

Coinsquare allows you to transfer Canadian dollars to your bank account but not to a wallet. The other alternative is to use a stablecoin such as USDC. In fact USDC is the only stablecoin you can use in the Canadian market at the time of writing. It’s not a bad one to use as it is the second largest stablecoin after USDT which is currently banned in Canada.

What is the wait period for Coinsquare?

You need to wait 72 hours after your first deposit before you can move the crypto or cash out of Coinsquare. This is because online exchanges need to comply with anti-money laundering regulation

What is the maximum withdrawal from Coinsquare?

There is no limit on the maximum amount that you can withdraw from Coinsquare. If this is your first time sending crypto to a wallet from Coinsquare then I recommend you test with a small amount before making a larger transfer. 

How do I transfer bitcoins from Coinsquare to Binance?

Before you make the transfer you should be aware that Binance has exited the Canadian market. This means that you will not be able to cash out to a Canadian bank using Binance. However, if you do decide that you want to proceed just follow the same steps

  1. Navigate to the cryptocurrency you want to receive on Binance
  2. Click on receive
  3. Copy the address 
  4. Paste the address into the withdrawal field on the Coinsquare platform.

Up Next

Is Coinsquare Legal in Canada: Here’s What You Should Know

Is Coinsquare Legal in Canada

Coinsquare is a cryptocurrency exchange based out of Canada that is registered as a Money Services Business with FINTRAC. Read more.

Markos Koemtzopoulos is the founder and main writer of ElementalCrypto. He has been a lecturer at the University of Nicosia on cryptocurrencies and DeFi and has taught two courses on crypto and blockchain technology.

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