What are μBTC (bits)?
Micro-Bitcoin or simply "bit" represents one over one millionth of a Bitcoin.
1,000,000 μBTC = 1 BTC
Why are you using μBTC?
With the price of a single Bitcoin being well over $100, the price of other
coins has to be represented in a decimal format containing leading zeros
making numbers hard to read. Using μBTC is a direct attempt at making
all prices easier to read and compare.
How do I convert from μBTC to $ and vice-versa?
[price in μBTC] = 1,000,000 / [price in $]
[price in $] = 1,000,000 / [price in μBTC]
Is Coinsquare a regulated business?
Coinsquare is not regulated per se (we are not a bank) but it complies with the existing
legislation. It is a registered money service business (MSB) that apply know-your-customer
(KYC) and anti-money-laundering (AML) policies for fiat money transfers.
Where is Coinsquare located?
Toronto, Ontario, Canada.
How can I use Interac® e-transfer?
You initiate an Interac®
e-transfer within your online banking. To successfully
track and complete your e-transfer, you have to copy the parameters found in the
Interac e-transfer CAD funding section in your Coinsquare account and paste them in
the corresponding boxes within your bank account. Available to customers with a banking account
with the following
What is Bitcoin?
This is not the FAQ you are looking for, move along ;-)
What is price grid?
Price grid is the term we use to refer to the set of all valid prices
at which a coin order may be entered on Coinsquare. If the price is larger
than 1000 μBTC then the price must be an integer. In particular
the following prices are all acceptable ...
0.01, ..., 999.99, 1000, 1001, 1002, ..., 999999 μBTC
If a price entered in Coinsquare isn't on the price grid, it will be
rounded off to the closest most favorable price depending on your
Why does the price of my order appear differently than the price I enter?
Coinsquare markets are priced in bits (μBTC). That means that if you enter
a price that isn't on the price grid it will be rounded off the
the closest most favorable valid price. This also applies if you enter an
order with a price that is not denominated in bits. E.G. CAD.
Who are you?
Coinsquare is managed by Virgile Rostand, Ph.D. (Mathematics).
Prior to Coinsquare, Virgile held positions as financial engineer
and consultant working on high end financial applications used in
banks and hedge funds. His combined experience in software development
and financial risk management makes him particularly well suited
to restore trust in the badly battered world of online crypto
I don't like bits, can I trade in XXX instead?
For selected key markets, Coinsquare allows you to enter
an order priced in another base than bits. At the moment we
have the BTC-CAD market that is serving as a proxy for the
CAD-BTC bit market. Be aware however that the price might
be adjusted slightly to match the price grid.
I can't withdraw! The system says account value too low!
If you funded your account using Interac or another method
your funds and coins are subject to a witholding period in order to
help prevent fraud and unauthorised transfers. Coinsquare
is equipped with a cutting hedge collateral management
system that let you trade as soon as we receive your funds
but it requires you to wait a reasonable period of time
in order for these funds to clear in the banking system.
All coins and currencies traded on Coinsquare are acceptable
Do you have API documentation yet?
Our full API documentation in still under development. You can however
use the following GET methods to obtain the latest quotes and order books.
The prices and quantities are in Satoshis.
GET: method="quotes" example
GET: method="book",ticker=[ticker code],base=[base ticker code] example