Einstein.Exchange Review: Legit or Canada-based Scam?

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Einstein.Exchange is a new Canadian startup operating a Cryptocurrency exchange with focus on simplicity, security and transparency. The official company address is 736 Granville Street, Suite 1500, Vancouver, British Columbia, V6Z 1E4. They claim that they are the world’s fastest Cryptocurrency exchange designed for the everyday consumer. Their platform is allegedly safe because they have allegedly collaborated with regulatory agencies and global financial institutions too.

They subscribe to strong anti-money laundering policies where customers are required to verify their details before they can conduct any transaction on the site.

Therefore, in this Einstein.Exchange review, I’ll basically assess the company and give you a detailed analysis of what I think of this company.

My assertions are basically inspired by facts, customer feedback and experience.

I do not want to believe that Einstein.Exchange is yet another Gatehub version in Canada.

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Last but not least, you can also obtain my all-in-one Forex and Cryptocurrency investment course here.


Einstein.Exchange review: a walk-through of company’s details

The website, which can be found at Einstein.exchange is basically a marketplace for buying Bitcoin, Ethereum, and other major Cryptocurrencies.

I hear that Einstein.exchange is supposed to add IOTA into their Cryptocurrency portfolio. When this happens, their users will allegedly have the chance to trade CAD or USD with IOTA and vice versa. If we are not on the same page, please read this post on IOTA to get a clue.

einstein.exchange review

The company maintains a very active social media profile on both Facebook and Twitter. I have tried following conversations there and noticed that issues mostly revolve delayed transaction times.

The company does what it can to solve these issues in time. But it still looks like their workforce is not able to sufficiently handle problems as they crop up.

This has apparently agitated some customers of Einstein.exchange to the point that they are promising not to transact with this Canadian exchange anymore.

Also, unlike many Cryptocurrency exchanges on the internet, you will see that this website is quite straight forward in terms of design.

The navigation menu at the top of the site shows various Cryptocurrency prices in real time.

And then there is a black section that gives us a brief description of the company. Basically, this part of the site is filled up with promises of how Einstein.exchange is the best Canadian exchange in Canada at the moment.

There are mixed opinions on this matter by the way. While some users appear to be quite happy with the level of service on this site, others are totally discouraged from using this exchange.

Also, while I was expecting Einstein.exchange to utilize that section for introduction purposes, i.e. use it to introduce company founders and so on, this did not happen. I am believing that this is something that has to do with the design of this website.

And of course the website has a couple of pictures from people whom they claim to be their team members. I haven’t verified this information though. But the fact that this startup has a physical location in Vancouver should make it easier for those living in Canada to visit and actually confirm this for themselves.

So far, the presentation is quite professional. No alarms have been raised thus far.

The only one thing I dislike is the act of not disclosing website owner on who.is. Who.is allegedly has a premium service where website owners can privately register their site so that their details won’t be visible to the public.

Most of the time, shady websites utilize this service to hide their details. I do not want to believe that Einstein.exchange is one of them.

Einstein.exchange Reddit

If you want to know what majority of people think of a new startup, Reddit, and other forums which have active threads where people discuss Cryptocurrencies should give you a clue.

When I was writing this Einstein.exchange review, the first thing I did was to use the term ”Einstein.exchange Reddit”.

Now, that gave me access to various threads within the Reddit community.

My attention was particularly drawn to a number of user comments which suggested that this exchange has a sloppy customer service.

One user apparently signed up and submitted the required verification documents (KYC). When they tried inquiring about the status of their account via chat feature, their message was allegedly ignored.

While Einstein.exchange has a phone number on their site which they claim is operational 24/7, this customer could not speak to any of their representatives as calls went unanswered.

They were forced to visit their office in Vancouver. Again, they found no one in that office.

This seems rather awkward as I do not understand why a service that seemingly has positive feedback half of the time is letting an inefficient customer service ruin their reputation.

Ultimately, the problem got solved which was also the genesis of another problem.

This time, Einstein.exchange is being accused for not letting the same customer move his coins to Coinbase – which is one of my favorite exchanges by the way.

The accusation is that Einstein.exchange holds transactions pending for weeks. This can be very agitating if you lack the patience or want to sell the coin quickly for profit because a price increment has occurred.

Basically, majority of comments on Reddit are from people who claim that this exchange does not approve transactions quickly, and secondly, their customer support sucks!

So I guess if this is something you can live with, then no problem. You can go ahead and use them. Personally, I would never use a service like this at least for now.

Einstein.exchange fees

If you’re going to wire your deposit, you won’t incur any fees. However, credit card transactions are charged 10%.

einstein exchange fees

That means if you buy $1000 worth of Bitcoin on this platform, you will receive $900 worth of the same.

For those who want to trade on this platform, the fee is 0.25% (standard charge).

On the other hand, there is a $50 withdrawal fee for those who want to cash out through bank wire. However, if you’re withdrawing in Bitcoin, meaning that you’re moving Bitcoin from this platform to Coinbase for example, this will cost you nothing.

Is Einstein.exchange legit?

I do not think they are a scam. But at the same time, I don’t think you will get the same level of service that you were expecting from this platform.

It seems that things are never smooth for customers who use this exchange. That is a major concern because it goes contrary to what the site promises.

Conclusion of this Einstein.exchange review

I have heard rumors that this exchange will add IOTA to their platform sometime this year.

People have been buying IOTA through Binance. But according to what I have experienced, Binance does not let people obtain IOTA as it is. You basically buy and hold since you cannot get IOTA out of this platform — unless you’re looking to convert it to Bitcoin first.

That is a huge disadvantage. What I want to see is whether Einstein. exchange will correct the issues which they are currently facing. When that happens, I will revise this Einstein.exchange review accordingly.

For now, I am advising you guys to sign up with Coinbase. I have not heard any issues with them since joining them in 2017. I still believe they are the best in this game.

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