The venture says that it is breaking new ground in the Canadian marketplace by allowing investors to transact between coins not paired with Bitcoin or Ethereum, giving clients the ability to easily switch from one cryptocurrency to another.
CoinSmart will also offer a tax-time reporting tool to help clients determine their taxable income and capital gains. The report will account for both currency-to-coin and coin-to-coin transactions.
“As a long-standing cryptocurrency investor, I have experienced first-hand how Canadians are under-served by existing exchanges,” says Justin Hartzman, CEO at CoinSmart. “Platforms are unnecessarily complex, lack personal touch, and do not provide the tools and service support that consumers deserve. We used these issues as our design motivation and trust that CoinSmart fixes all these concerns allowing any investor —first time or not— to truly feel comfortable and secure.”
CoinSmart will initially offer Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Dash, Monero and EOS, with additional altcoins planned for roll-out on an ongoing basis. Customers can fund their accounts using fiat, Electronic Money Transfer (EMT) and Electronic Funds Transfer (EFT) and plans are afoot to introduce Flexepin, credit card and gift card funding options.