Coinone Reviews: Is A Scam?
The South Korean cryptocurrency exchange Coinone reviews is another one that has made a name for itself in the industry. The platform is among the few that have been running for a significant amount of time and is rising quickly in the bitcoin space.
Even if they have no plans to use their products, serious cryptocurrency investors should be aware of the Korean digital platform that was recently ranked among the top 20 crypto firms. Nevertheless, despite all of its features and capabilities, the platform nevertheless receives criticism for its comparatively small number of uses. In light of this, you might want to read this online review before joining CoinOne.
|Headquarters||4F, 69, Hangang-daero, Yongsan-gu, Seoul, Republic of Korea|
|Number of coins||195|
|Number of coin pairings||–|
|Native token availability||No|
|Hot wallet Availability||Yes|
|Cold wallet Availability||Yes|
|Customer Service||Email: [email protected] ChatHelp CenterFacebookTwitterInstagram|
|Leverage||To 1:4 (Depends on the trade option)|
|Minimum Deposit||1 USD|
|Transaction Fee||0.2 %|
|Withdrawal Fee||0.0015 BTC|
|Execution of orders||Market orders, Limit orders, Stop orders|
|The owner of the company||CoinOne Inc.|
CoinOne is one of South Korea’s major crypto exchanges, serving millions of traders. It is the third-largest cryptocurrency trading network in South Korea in terms of its trade volume and user base. The exchange has been active since 2014 and is backed by a team of seasoned experts in the crypto business.
The platform provides a majority of South Korean residents with a gateway to extensive experience in the cryptocurrency business while backing them with high-security measures. Besides, there have been no attempted cyber attacks, giving it a unique standpoint as a crypto exchange.
Customers of the firm can use its wallet, built specifically to meet the demands of persons involved in the cryptocurrency space, besides the exchange platform. In addition, this South Korean-based cryptocurrency startup has recently developed a platform for Indonesian nationals to widen its reach in Asia.
The platform also has a branch in Malta that was recently closed for various reasons. Lastly, CoinOne has not only earned a reputation for itself in the crypto community, but it has also attempted to join the online gaming business.
Cryptocurrencies Supported In CoinOne
One of CoinOne’s key draws is the large number of currencies accepted on this network. Currently, the platform supports over 190 virtual currencies, along with some of the most unusual altcoins available in the crypto market.
To give you a better idea, here’s an overview of the different large and small projects that are available on the platform:
|Cardano ADA||Meconcash MCH||RushCoin RUSH||DRC Mobility DRC||Celeb CELEB|
|Chainlink LINK||LUX BIO EXCHANGE COIN LBXC||Polkadot DOT||Avalanche AVAX||Cosmos Hub ATOM|
|BTRIPS BTR||Dogecoin DOGE||TRON TRX||Klaytn KLAY||Solana SOL|
|Bitcoin BTC||XRP||Orbler ORBR||Natural Farm Union Protocol NFUP||Ethereum ETH|
|Crypto Bank CBANK||MOTIV Protocol MOV||Piction Network PXL||ASTA ASTA||Bitcoin Cash BCH|
|Bitcoin SV BSV||Basic Attention BAT||Linear LINA||Compound COMP||Sushi SUSHI|
|Misbloc MSB||Everscale EVER||Brother Music Platform BMP||EOS EOS||Ethereum Classic ETC|
|REDi REDI||Handy HANDY||Tezos XTZ||Litecoin LTC||Stellar XLM|
Besides, the platform has also established itself for being an opportunist. The exchange is open to accepting new crypto projects while continuously replacing existing listed projects. This way, CoinOne provides a reliable platform for users who are busy diversifying their portfolios with new and upcoming crypto projects.
Pros And Cons
- The exchange trades a majority of major crypto projects.
- The customized trading system contains a lot of features.
- Outstanding security for user payments and data.
- A smartphone app with an easy-to-use UI.
- There are several staking schemes to select from.
- The capacity to lend money to other merchants.
- For margin trading, leverage up to 1:4 is possible.
- Only Korean WON is offered as fiat currency.
- There is no referral scheme.
- There aren’t enough demo profiles or guidelines for newcomers.
Key Features Of CoinOne
Seamless User Interface
CoinOne presents itself as a ‘beginner-ready’ platform with UI developed so that even inexperienced traders can readily appreciate its trading services. The seamless UI allows customers to make investment decisions quickly and without hesitation. In addition, its Pro-chart feature simplifies complex trading with its simple and real-time operations.
While many argue that the CoinOne platform is created, keeping the South Korean inhabitants in mind, it’s not! The platform is also helpful for foreign users searching for a trustworthy platform for bitcoin trading. Therefore, your interest in the structured website will naturally increase once you enter the website.
The CoinOne Swap
The CoinOne Swap feature is a simple solution that enables users to make winning decisions and execute them without delay. It was designed to simplify the trading interface by displaying only three essential elements to users: the latest market rate of a coin, the highest quantity which can be purchased, and the account balance.
This Swap function does not handle all currencies; however, users may select from such a list of available coins. Furthermore, the switch is fast, and the rate is changed every 10 seconds, so users know precisely what they’re receiving at whatever rate.
Minimum Trade Execution Time
Trade processing timing is critical since it allows you to earn a lot of money in a short period. Delays in transaction execution may lead to a loss for skilled traders hooked on placing many deals at once. The cryptocurrency market is recognized for its severe volatility, with the price of cryptos fluctuating dramatically. Because of the extreme instability of the cryptocurrency industry, the trading platform must complete operations quickly. Slow-performing systems would be unable to keep up with the frequent swings in cryptocurrency prices.
CoinOne offers a very short trade processing speed since it processes several assets in secs. As a result, citizens of South Korea use the platform for crypto trading rather than wasting hours. In addition, the use of modern technology allows for the cryptocurrency exchange to be completed in a short period.
The CoinOne Exchange
CoinOne’s exchange facility is their flagship offering for more skilled traders. The exchange, unlike the Swap, provides additional details such as trade charts and an ordering sheet that includes numerous currencies listed in the exchange markets. The rate and quantity fluctuations over one day period, and many others.
Also, there is a chat option for verified accounts and a part where you may purchase and trade items. The webpage is written in both Korean and English. Therefore, people can instantly switch between the two.
CoinOne provides CoinOne Plus, a dedicated DeFi platform, via which users may earn incentives for staking several cryptos. This functionality supports three forms of staking: lock-up staking, simple staking, and the node staking facility.
It was founded in response to harsher constraints imposed by the South Korean administration, which led the marketplace, and others within South Korea, to investigate new crypto initiatives.
CoinOne, like many other crypto exchanges, provides its users with a reliable online wallet. The wallet allows customers to hold their digital assets without risking their safety. In addition, the wallet is protected by cutting-edge tech that prevents you from being a subject of a fraudulent attempt.
This wallet preserves crypto-capital in secure layers that are impossible to penetrate in the event of a compromising attack. However, CoinOne does not provide solutions alone; it has partnered with BitGo, a well-known security platform recognized for high-quality wallet functionality. Incorporating a multi-sig wallet system protects users’ assets from any type of vulnerability risk.
Additional Features Of The Platform
- Staking: Among the most appealing aspects of CoinOne is the possibility to stake cryptocurrencies and earn a guaranteed income to secure the trading system’s virtual holdings. Its staking scheme is more versatile than many other platforms in that it allows users to choose periods of one day, one month, or one year and gives up to 20% APR) on pledged tokens.
- Leverage Trading: Despite high leverage becoming the norm across crypto trading, it is an essential type of trading offered on CoinOne. High leverage is a way of exchanging monetary commodities such as cryptocurrency utilizing funds given by a third person, in this instance, the platform.
- CoinOne Mobile App: CoinOne also has a smartphone application that can be downloaded from the App Store and Play Store. Meanwhile, as per a recent notification in the Android App Store from CoinOne, the application is now not accessible for nationals. Thus, if you trade from some countries, you will be permitted to trade only through a web browser.
- Stringent Security Measures: Its exceptional level of protection puts it as the main crypto exchange in South Korea. We see that its safety system is stronger and more secure whenever we compare other services. The technology incorporated into the site creates a robust layer of protection against external and internal threats. It is regarded as one of the most secure cryptocurrency trading platforms available.
- CoinOne Customer Support: When businesses devote extra focus to their clients, the likelihood of increased usage must grow. The same incident goes with CoinOne since it offered 24-hour assistance to consumers, which drew more users to the platform. Today, the platform’s customer base numbers millions of individuals worldwide.
Because crypto markets run 24 hours a day, 7 days per week, the company has adopted round the clock customer service inquiries. If you come across any problem while trading on CoinOne, you would receive an immediate response since support personnel work attentively and relentlessly. A customer and the company’s personnel team have an excellent working connection.
Users signing up for CoinOne are currently limited to a singular trading platform. The intuitive trading platform is designed to simplify trading for beginner traders. The simple and easy-to-navigate trading platform is ideal for experienced traders due to cutting-edge technology such as AI and blockchain in the platform’s processes. You will adore it when you are a regular user because everything on the website appears great.
Adding to it, users on the platform also have the option to access the ‘Pro’ charts section, which is available for every user and is free of charge. However, a few common elements can be noticed across the trading platform. For instance, all the views have a similar order book or highlight a part of the active trades, a price chart for a dedicated crypto token, and the given order history.
Overall, the platform stands out with the type of trading experience it aims to deliver to its customers. It fits appropriately for users at any level of experience.
CoinOne Trading fees:
The CoinOne platform is well known for its minimal fees. But, in reality, it’s among the exchange’s true strengths. Although there are zero deposit charges, transaction and withdrawal costs are associated.
CoinOne, like other crypto exchanges nowadays, charges both maker and taker fees. Makers are those that buy and sell on the market and provide liquidity, and they typically pay the lowest costs. Takers are those that fill a purchase or sell request, reducing exchange liquidity.
As seen below, makers can reduce their rates from a peak of 0.1% to a minimum of 0%. Taker fees start at 0.1% too but go no lower than 0.02%. The whole cost structure is shown below:
|Trading Volume for 30 days||Maker fee||Taker fee|
|Less than 100,000,000 WON||0.1%||0.1%|
|Less than 1,000,000,000 WON||0.08%||0.09%|
|Less than 5,000,000,000 WON||0.06%||0.08%|
|Less than 10,000,000,000 WON||0.04%||0.07%|
|Less than 20,000,000,000 WON||0.02%||0.06%|
|Less than 30,000,000,000 WON||0%||0.05%|
|Less than 40,000,000,000 WON||0%||0.04%|
|Less than 50,000,000,000 WON||0%||0.03%|
|More than 50,000,000,000 WON||0%||0.02%|
CoinOne Withdrawal fees
Several platforms offer reasonable transaction fees but charge you withdrawal charges on checkout. CoinOne, on the other hand, levies a withdrawal charge that is somewhat more than typical but is unlikely to deter you.
The typical BTC withdrawal charge worldwide is 0.000812 Bitcoin per Bitcoin withdrawal. CoinOne assesses a fee of 0.0015 Bitcoin for each Bitcoin withdrawal. Indeed, this is about 100% higher than the market standard; however, the gap in USD vs. the market average Bitcoin withdrawal cost is every day.
|Coin||Minimum Withdrawal||Withdrawal Fees||Withdrawal Limit||Deposit|
|Bitcoin BTC||$2.0345406 /0.0001BTC||$30.518109 /0.0015BTC||N/A||Free|
|Ethereum ETH||$0.1085528 /0.0001ETH||$21.710558 /0.02ETH||N/A||Free|
|Tether USDT||$0.0099916 /0.01USDT||$0.0000000 /0 USDT||N/A||Free|
|USD Coin UDSC||$1.0003399 /1 USDC||$0.0000000 /0 USDC||N/A||Free|
|Cardano ADA||$0.9453580 /2ADA||$0.4726790 /1ADA||N/A||Free|
|XRP XRP||$0.0032676 /0.01XRP||$0.3267625 /1XRP||N/A||Free|
|Solana SOL||$0.3585329 /0.01SOL||$1.0755986 /0.03SOL||N/A||Free|
How Secure Is CoinOne?
CoinOne stands out as one of the safest and most reliable crypto trading platforms, backed by its history of no hacking incidents since its inception. The platform adapts to stringent security measures to keep up with its goodwill in the market.
CoinOne has a surveillance staff that works around the clock to keep users’ assets and cash safe. It has established plans for cutting-edge security measures.
- Firstly, there’s also a two-factor verification feature that warns consumers if an unfamiliar individual tries to establish a profile without the approval of the previous profile owner.
- Secondly, it requests ID validation from users.
- Finally, assets held by market participants are maintained in multi-signature vaults, which keep external tricksters and attackers at bay.
CoinOne is a South Korean registered trading service, with its company registration information openly displayed at the bottom of its site. This instills trust in users as a Korean institution. However, because it is mainly aimed at South Korean users, it might not be a viable substitute for customers in other regions of the planet.
Account Opening With CoinOne:
The website may appear intimidating initially, but when you feel ready to begin investing with this platform, just follow the instructions below.
Step 1: The first step to creating an account on CoinOne’s site is to switch your language preferences from Korean to English (option available on the top right corner of the page). Once done, you can then proceed with the next step.
Step 2: Select the ‘Sign-Up’ option to initiate the registration procedure. CoinOne needs users to accept the exchange’s terms of service in the first step. Then users will be sent to a registration page where users will be prompted to offer the basic information.
Step 3: You would get a mail from CoinOne requesting that you validate the email account and join the platform using your login. After that, you’ll go with a lengthy signup procedure involving mobile number confirmation, OTP validation, and bank profile validation.
Once you’ve followed all the steps, it’s time to start your crypto journey! First, purchase and sell digital currencies once the CoinOne profile has been authorized.
CoinOne has both online and physical call centers to manage the troubles that its user might come across. In addition, platform users can reach out to CoinOne support staff using the 1670-9756 phone number. However, if the phone line is busy, you might consider writing a letter to the team at [email protected].
CoinOne has a Trustpilot meager rating of 2.9 stars out of 5. We found a review in which people said customer service was questionable. Users who signed up for the platform found it challenging to verify their phone numbers if they were from outside Korea. The customer service didn’t even reply to the mail until four days.
Reviewers were found complaining regarding restrictions in withdrawals. However, some people have found CoinOne to be quick and straightforward to use.
Besides, other online reviews during our research highlighted that CoinOne offered adequate customer support. In addition, platform users were finding it easy to access real-time customer support via the recently added live chat feature.
To sum up, we have discussed how trustworthy this fantastic exchange is in this CoinOne review. For high-volume traders, including novice and seasoned investors, it provides complex trading modes and features. It ranks among the top bitcoin exchanges as a result. But it’s crucial to remember that every exchange has its own trading philosophy. Investors can therefore choose their best trading strategy based on their needs.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.
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