A Coinsquare alternative for selling the USDT you hold
Coinsquare does not accept USDT deposits. Paid in USDT anyway? Send it to Unigox, a Coinsquare alternative, and sell it to a buyer who pays your bank. To buy bitcoin, ether or USDC, stay with Coinsquare.
When to stay with Coinsquare
You buy bitcoin, ether or other coins
Coinsquare sells bitcoin, ether, Solana, XRP and dozens more for Canadian dollars you add by free Interac e-Transfer. There is no trading fee: a spread of 0.5% to 1.85% sits in each quote. On Unigox you can only trade stablecoins.
You want a firm CAD price for USDC
Coinsquare quotes a Canadian dollar price for USDC that holds for ten seconds. It takes USDC deposits on Ethereum for free and pays out by free Interac e-Transfer. Its spread can cost less than the rate a P2P buyer offers on Unigox, where a sale also needs a buyer who is open that day.
You want a CIRO investment dealer
Coinsquare is a CIRO dealer member. CIPF covers the cash in your account up to $1 million if Coinsquare fails. It does not cover your crypto, which is held in trust with outside custodians.
What Coinsquare and Unigox each do with USDT
| Topic | Coinsquare | Unigox |
|---|---|---|
| What it is | A trading platform for residents of Canada, owned by Robinhood. You add Canadian dollars and buy or sell coins at a quoted price. | A stablecoin marketplace: a P2P merchant or a payment business buys your USDT or USDC for local money, and in some currencies sells it to you. |
| USDT | Not accepted. Coinsquare's help centre names USDT as a token it does not support. A USDT deposit may not be recovered; where it can be, the fee is $100 or 5% of the amount recovered, whichever is more. | USDT you deposit is held as USDT in your Unigox Wallet until you decide to sell. You can move USDT or USDC between Unigox and an outside wallet before or after a trade. |
| USDC and Dai | USDC, deposited and withdrawn on Ethereum only. Dai can be sold or withdrawn but not bought or deposited. | Unigox trades only stablecoins. The sell form shows which ones each currency takes. |
| Getting cash to your bank | Sell for CAD, then withdraw:
| The buyer of your USDT, a P2P merchant or a payment business, sends the money to your bank account. During a trade the crypto sits in an on-chain escrow that Unigox can release only to the buyer or the seller. |
| Fees | Spread of 0.5% to 1.85% in each quote, up to 2% more in thin or volatile markets. Coinsquare Pro charges 0.50% instead. Withdrawals: free by e-Transfer, 1.5% by direct deposit or wire. | No separate fee: the Unigox fee is inside the rate a buyer offers for your amount. P2P buyers set that rate, and it can sit further from the market rate than Coinsquare's spread. Compare it before you accept. |
| What you need to start | Residence in Canada, the age of majority in your province, a phone that takes SMS codes and Canadian photo ID. An international passport works only through support. | Identity verification before the first trade, at any amount. |
| Regulation | Coinsquare Capital Markets Ltd. is a CIRO investment dealer and marketplace member, and Coinsquare is FINTRAC registered. CIPF covers cash, not crypto. | Unigox works through two companies: UNIGOX NETWORK CORP. in Canada handles the local-money side and is registered with FINTRAC as a money services business and with the Bank of Canada as a payment service provider; UNIGOX NETWORK CORP. in Panama handles the crypto side, including wallets and escrow. |
UnigoxCash out USDT on Unigox instead of Coinsquare
Verify, then send the USDT in
Create a Unigox account and complete identity verification before your first sale.
Have USDT sent to Unigox
Open Deposit in your Unigox Wallet, pick USDT and a network, and give that address to whoever pays you in USDT, or send USDT there from your own wallet.
Sell and collect in your bank
Choose your currency, add the bank account to pay and accept the rate. Your USDT sits in an on-chain escrow that Unigox can release only to you or the buyer.
Coinsquare questions
What is a Coinsquare alternative for selling USDT?
Unigox, for USDT you hold or are paid in. You send it in and sell it to a buyer who pays your bank account. Coinsquare does not accept USDT deposits. For buying bitcoin or ether with Canadian dollars, Coinsquare is still the one to use.
Read the Shakepay comparisonWhat are Coinsquare's fees to trade and withdraw?
Coinsquare Trade has no trading fee. A spread of 0.5% to 1.85% is built into each quote and can rise by up to 2% more in thin or volatile markets. Coinsquare Pro charges 0.50% to makers and takers. Crypto deposits are free. Canadian dollars leave free by Interac e-Transfer, up to $2,000 once a day, or for 1.5% by direct deposit or wire.
Which stablecoins does Coinsquare support, and is USDT one of them?
USDC, bought, held and moved on Ethereum only, and Dai you already hold, which can be sold or withdrawn. USDT is not supported. Coinsquare says a USDT deposit may not be recovered; a recovery, when possible, costs $100 or 5% of the sum, whichever is more.
Can I buy bitcoin on Unigox, as I do on Coinsquare?
No. Unigox trades stablecoins only, and each currency shows whether you can buy, sell or both next to its rate. For bitcoin, ether and the other coins Coinsquare lists, use Coinsquare.
Get a price for your USDT
Coinsquare gives no price for USDT. Unigox shows what your amount sells for, with its fee inside, before you accept a buyer.
Coinsquare and other names and logos are trademarks of their respective owners. Unigox is not affiliated with, endorsed or sponsored by them. Information about other companies comes from public sources, mainly the companies' own websites, and each company can change its products and fees at any time.