Coinsquare charges a transaction fee for digital currency withdrawals. This is to ensure that your transaction gets confirmed on the blockchain as soon as possible. These fees vary depending on the digital currency and can change over time based on blockchain capacity.
Transfer fees breakdown:
Bitcoin: 0.0025 BTC
Bitcoin Cash: 0.001 BCH
Ether: 0.005 ETH
Litecoin: 0.02 LTC
Dash: 0.002 DASH
Doge: 2 DOGE
If your withdrawal has been processed but your digital currency hasn’t arrived in your external wallet:
Your transaction is being confirmed on the blockchain and will arrive in your external wallet once the transaction is confirmed. Please note that Coinsquare does not have any control over blockchain processing times.
Occasionally, users run into issues when trying to withdraw funds from our platform. The list below outlines some of our most common issues that users face when trying to withdraw funds.
But first, take a deep breath. Coinsquare is Canada’s safest digital currency trading platform and we have never lost a single dollar or digital currency coin. Your funds are safe, and we will make sure that they get to your wallet ASAP.
If you are getting an ‘Insufficient Funds’ error:
The most likely reason is that you are still under Coinsquare’s withholding period. Depending on the funding method you chose, we require funds to be withheld for a few days for security reasons.
Funding with Interac e-Transfer: 3 day withholding period
Funding with Interac Online: 3-7 day withholding period
Funding with credit card: 7 day withholding period
Funding with bank draft: 14 day withholding period
Funding with money order: 5 day withholding period
Funding with Flexepin or a wire transfer: No withholding period
As an example, if you have funded your account using a bank draft you will not be able to withdraw your funds from the Coinsquare platform for 5 business days. This withholding limit applies to your full account balance and these funds are held for security reasons. This information is also outlined in the chart below.
The withholding period does not affect your ability to make trades between currencies – only withdrawal from the Coinsquare platform.
If you have passed the withholding period and are still getting an ‘Insufficient Funds’ message:
Check to see if you have any open limit orders on your account. When limit orders are left open, those funds cannot be withdrawn. You must first execute or cancel your existing orders for those funds to become available for withdrawal.
Also, check to make sure you have the correct currency selected when trying to make a withdrawal.
If your withdrawal request status is set to ‘Email Confirm’ or ‘Undefined’:
Check your inbox. We’ve sent you an email to confirm your withdrawal. Open the withdrawal email and click the link. While awaiting withdrawal, funds will be ‘held’ in the request and will be unavailable for trade. If you cannot confirm the link, please try copying and pasting the link in your browser’s URL field (you must be signed into Coinsquare).
For a step-by-step guide on withdrawing digital currency from Coinsquare, see the link below: