How to use Coinsquare.io

[BitTechNewbie]

Hi Everyone,

I am trying to figure out how to use Coinsquare.io before I start funding the account and would like to ask you guys who use it if what I think is the process is correct. As well is there anything that I am missing.

1) You fund the account through the methods they provide, of course depending on the method there are different fees.
2) Here is what is confusing me----- Instead of buying in their system you trade to get the Cryptocurrency you would like to have. Is that correct?
3) They provide you a quote and you make the trade. This trade goes through a holding period and then the funds are available.
4) As soon as the funds are available you can withdraw the Cryptocurrency using the methods they provide.

Is this correct? Is there any issues like certain Cryptocurrencies you can't withdraw...etc. I have just heard/read horror stories of people getting stuck with Exchanges and having issues. That is why I want to make sure I understand Coinsquare.io before I fund it.

Thank you in advance.

[Ouissem]

I had no problem with Coinsquare, I use it because they accept Interac.

[BitTechNewbie]

Thanks Ouissem,

I just completed a few trades this week. It was pretty easy. The only challenge is the holding period.

[Epoch]

I recently tried Coinsquare's 'advanced trading' UI but find it very confusing. Let's say I want to place a limit order to SELL 0.2 BTC for $25,000 CAD/BTC.

On most exchanges, this is done simply by entering the amount (0.2 BTC) and the limit price ($25,000/BTC). Pretty simple and intuitive.

But on Coinsquare, my understanding is that this is actually entered as a *buy* order for CAD where you enter 0.000008 (0.2 / 25,000) in the 'Price (BTC)' field, and you enter 5000 (0.2 * 25,000) into the 'Quantity (CAD)' field. Essentially Coinsquare treats 'selling BTC' as 'buying CAD'. Is this correct? If so, it seems ridiculously convoluted.