What Is Coinlist User Guide?

CoinList‘s mission is to accelerate the adoption of crypto. To this end, the platform has developed a comprehensive service for users that integrates everything from trading tools to lending. With this multi-service platform, users can buy, trade, use and lend the latest and greatest cryptocurrencies.

What is CoinList?

CoinList became famous for offering token sales projects with the support of large funds, and most of these tokens in particular generated impressive returns for the users.

As the global leader in token sales, CoinList has helped many blue chip projects such as Filecoin, Solana, Celo, Algorand, Dapper, Blockstack, Mina and Casper connect with hundreds of thousands of new owners. Now the platform supports the entire operation of cryptocurrencies, from token sales to distribution, trading, lending and staking.

Source: CoinList

Coin list Which listing??

CoinList strictly censors projects, so the choices on the platform are carefully curated. Users can buy or trade around 40 cryptocurrencies here, including many emerging assets that have not yet hit the broader market.

User Guide Coin list

It only takes a few minutes to sign up for CoinList. Enter Registration page and fill in some basic information. CoinList sends a confirmation link to the registration email and as soon as you click on it, you are logged into the platform!

This is what the dashboard looks like:

In order to use CoinList’s many services, you need to verify your identity – a simple legal process known as KYC. In this step, your name, address, photo, citizenship ID, passport, driver’s license … will be issued by the government.

Once the account has been verified, you can use the services!

Note: Coinlist currently only checks phone numbers with the area code 09 …..

Instructions on how to buy Token Sale on CoinList

You go to the homepage, select the article Token Sale and choose Find out more of the open sale project you want to participate in (in the example we choose Biconomy).

Scroll down and click Register Now. Please register for option 1 and 2.

Click Get Started

Click on Continue with

Then you choose Synthetic Team and answer the quiz questions, depending on the project there are different questions.

An example of quizzes

Instructions for trading on CoinList

Before you can buy, sell and trade crypto on CoinList, you need to fund your wallet. After logging in, click on “Wallet” in the left sidebar. The first standard entry in the list is USD. To add funds to the wallet, click on “Deposit”. Next, it is necessary to link a bank account (using the services of Plaid) or a bank transfer according to the information provided (in the case of a bank transfer, it is very important to fill in the Memo field exactly as shown).

After you have deposited funds into your account, you can start buying coins. Simply navigate to the “Buy & Sell” page in the left sidebar and select the desired cryptocurrency from the drop-down menu. Enter the order quantity and click on “Order preview”. If you agree, click on “Confirm order” and the cryptocurrency will arrive in your wallet.

You can also send crypto to the wallet from elsewhere by navigating to the Wallet page and selecting Crypto. Click the “Deposit” button and follow the instructions. You’ll need to copy the CoinList wallet address on the page and follow the usual steps to send crypto from your wallet or exchange of choice.

In addition to buying and holding cryptocurrencies on CoinList, you can also actively trade within the platform. Simply navigate to the Buy & Sell page, select two assets and enter the amount you want to trade. Then click “Preview Order” to review the order details.

If so, click “Confirm Order” and the asset will start trading almost immediately. The wallet will be updated to show the new token balance. You can only trade between selected coins.

Professional users can too. navigate CoinList Pro, offers more trading tools like limit orders and stop orders.

CoinList Pro Offers More Tools for Professional Traders | Source: CoinList

Instruct Stake Above Coin list

While cryptocurrencies like Bitcoin or DOGE are secured by mining (PoW), many newer ones use a different consensus mechanism known as PoS. With PoS, the network is not secured by mining and expensive hardware, but with another economic source: staking.

Staker hands his cryptocurrency over to the network to help the blockchain validate transactions and they are rewarded for doing so.

Staking is a complex process that involves a lot of technology and high financial outlay. CoinList removes that complexity and makes staking an easy process for users. In fact, the platform uses an “opt-out” process, which means that the assets held on CoinList will be automatically deployed unless you choose otherwise.

The staking service on CoinList has no other requirements than holding the associated assets.

CoinList currently allows users to set FLOW, MINA, CSPR, NU, CELO and ALGO (US users can only use NU, CELO and ALGO).

To put assets on CoinList, you must first buy them as described above or deposit them into your CoinList wallet. Staking begins as soon as the crypto is in the CoinList wallet.

CoinList doesn’t charge users for staking, but is paid to them when staking rewards are paid out, just like all regular intermediate validators out there.

The reward varies by asset and fluctuates depending on the conditions of the blockchain network. With many assets, the more people invest, the fewer rewards.

If you don’t like staking, you can opt out.

Instructions for borrowing on CoinList

CoinList allows users to lend crypto and receive a fixed rate of interest on certain assets (for now, lending only applies to FIL).

Just a few clicks to lend on CoinList.

Click Borrow on the Dashboard to list the programs currently available. The programs contain important information such as minimum requirements for cryptocurrencies and deadlines. Before joining the loan program, you must meet these requirements, including photo identification and an additional Social Security number for US users.

Once you’ve found a program that you like and meets the minimum requirements, just click on it and enter the amount you want to loan out. At the end of the repayment period, you will receive your original capital plus interest back. Remember, once your money has been borrowed, you will no longer be able to touch it.

These are time-limited programs so keep an eye out for when CoinList takes on the next amount of assets you want to lend.

What’s next for CoinList?

In September 2021, CoinList debut Karma, a system that rewards users for contributing to token rewards on CoinList. The greater your contribution through value-adding activities, the higher your karma. Activities can be passive, such as staking coins on CoinList, or more active, such as participating in the CoinList hackathon or mining program.

“Introducing CoinList Karma: Contribute to the CoinList token network, collect karma, get rewards.”

Karma is a form of badge and users with a high level of karma have access to a priority queue that allows them to reach the token sale faster than the regular route. In the last 3 sales, CoinList has invited over 1,000 users with Karma to the priority queue.

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