CoinExchange.io Review by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about the broker in this CoinExchange.io Review.
CoinExchange.io Review
CoinExchange.io is a cryptocurrency exchange which operates solely on a crypto-to-crypto basis. They don’t deal with ‘real money‘ – fiat currencies like the USD, EUR, etc. So, if you are looking for a place to buy some coins with your traditional money, or to cash out your Bitcoins, this exchange is not your cup of tea. Nonetheless, at CoinExchange.io there are some cryptocurrencies available for trade which you won’t find anywhere else – their digital assets portfolio is one of the largest we have seen so far.
Like the majority of exchanges, CoinExchange.io has a two-step verification system (2FA via Google Authenticator), but still it allows completely anonymous trading.
CoinExchange.io Advantages
Extensive digital assets portfolio
It seems that CoinExchange.io aims to support as diverse a range of altcoins as possible. Currently, there are more than 340 cryptocurrencies available for trade on this platform, and more are being added.
To date, the most traded pairs on CoinExchange.io are: BTE/BTC and REC/BTC.
Competitive trading fees
CoinExchange.io charges a flat fee of 0.15%on all trades. Given that most exchanges charge 0.20% – 0.25%, CoinExchange.io’s fees are competitive, however it may seem unfair to some that market “takers” and market “makers” are treated equally.
Relatively nice platform
Like most similar venues, CoinExchange.io has not developed an advanced trading platform equipped with technical indicators, charting options and add-ons. The exchange has grouped the coins available into five groups in order to be more convenient for users to find what they are looking for: BTC Markets, DOGE Markets, ETH Markets, ETC Markets and LTC Markets. There is a neat order book, Recent Trades window, a Trolbox, as well as a list of the newly-added coins.
Anonymous trading option
Although Bitcoin was launched with the idea of anonymity, many crypto-exchanges actually do not allow trading without user verification with ID. CoinExchange.io, however, is not one of those.
CoinExchange.io Disadvantages
Not regulated, no info about the company, nor its headquarters
While it is not unusual for a crypto-exchange to be unregulated, most such venues at least provide some information about the company operating the website and its headquarters. However, the “About Us” section at CoinExchange.io contains only some vague statements about security and excellent customer support. Now, not making false claims or promises that are too good to be true is a good thing, but investors should now to whom they are sending their coins, right?
If you would rather trade in digital coins via a regulated entity, you can also do that with forex brokers. Make sure you are aware of the specifics of such trades.
No fiat currencies supported, bank transfers & credit cards not accepted
Not supporting fiat currencies is disadvantage for an exchange, especially as far as newbies are concerned. CoinExchange.io a strictly a Crypto Currencies / Alt Coin trading site. You are only able to deposit and withdraw digital coins to and from CoinExchange.io, which of course means that bank transfers & credit cards payments are not supported. On its website, CoinExchange.io rediurects its customers who wish to convert USD into Bitcoin (BTC) to LocalBitcoins. Indeed, there are many exchanges who accept traditional money via convenient methods like credit cards.
Relatively high withdrawal fees
CoinExchange.io does not charge blockchain deposits, however, certain fees apply to withdrawals, which are not to be underestimated. For example, 0.00100000 BTC, 0.01000000 ETH, etc.
Minimum deposit requirements
In addition, there are minimum deposit amounts set for certain coins – for example, a minimum of 0.1 ETH for investments in Ethereum.
However, unlike other exchanges, CoinExchange.io has not introduced a limit on the amount you are able to withdraw.
No margin trading
Unlike some cryptocurrency exchanges, like Kraken, Quoinex and others, CoinExchange.io does not offer leverage. So, if you want to gear-up your trading, you may either choose another exchange, or try out trading in Bitcoin CFDs with a forex broker.
CoinExchange.io is a crypto-to-crypto exchange platform where you can trade in Bitcoin, Ethereum, Litecoin, and almost every altcoin you can think of, as well as many you haven’t heard of. While diversity is a good thing, supporting all sorts of ICOs, some of which are scams, is not exactly an advantage.
Also, while the flat trading fee of 0.15% at this exchange is competitive, one can hardly say something similar about their withdrawal fees.
Nonetheless, the most disturbing disadvantage of CoinExchange.io is that there is no information available about the corporate entity owning the brand and the website. We don’t know which is the company running this service, nor where are its whereabouts, let alone whether it is licensed in some way.
To conclude, CoinExchange.io leaves us with mixed feelings. By the way, the same is the situation with user revies in popular bitcoin forums and sites.
CoinExchange.io Review Conclusion
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