Coinmate review

Finding a good cryptocurrency exchange where you can invest in cryptocurrencies can be very difficult, especially in Europe. There are now many scams claiming to offer crypto exchange platforms, but in reality they are after stealing your hard earned money.

We’ve done a comprehensive review of the Coinmate exchange to see if it’s legit or not.If you want to learn more about Coinmate’s pros and cons and how it works, keep reading.

How coin mate works

Coinmate is a cryptocurrency exchange established in 2014. Registered in London, it focuses on operations in Europe, especially in Eastern Europe.

First, you need to open an account with Coinmate. You can choose to use BankID, the fastest and most secure way to sign up, or manually enter your personal information.

Once you have an account, you can choose between “Trade” and either the “Quick Buy” or “Quick Sell” option.

The “Trade” option allows you to trade various cryptocurrencies. You will have access to the order book and charts containing crypto prices, your trading history, and an area where you can create new orders.

On the other hand, the “Quick Buy” option allows you to easily and quickly buy various cryptocurrencies at market prices, and the “Quick Sell” option allows you to sell cryptocurrencies easily and quickly.

Coinmate currently supports about 8 cryptocurrencies. We support Bitcoin, USDT, Ethereum, Cardano, Solana, Litecoin, Ripple and Dash. You can also buy cryptocurrencies using EUR, CZK and BTC he three major currencies.

Main function

Account type: Coinmate offers 3 types of accounts: basic account, verified account and VIP account.

Transaction Fee: Coinmate employs a maker/taker model. The maker fee is 0.05% and the taker fee is 0.35%.

Withdrawal Fee: Deposit and withdrawal fees depend on the payment method you choose. However, deposits using vouchers or domestic Czech and Polish currencies are free.

Deposits and withdrawals: The methods available to fund your account, depending on your account verification level. OkCoin, MoneyPolo and vouchers can be used at the first level for basic accounts. For verified and VIP accounts OkCoin, MoneyPolo, Vouchers, SEPA, Sofort and standard wire are accepted.

Withdrawal limits: For basic accounts, the daily withdrawal limit is €1,000. For verified accounts the limit is €5,000 and for VIP accounts the limit is €12,500. However, you can adjust the VIP account limit higher by requesting it.

Customer support: Coinmate offers only one method of customer support via email.

safety: Coinmate is very secure as it has 3-step verification for all types of accounts. Depending on the verification level, Coinmate will ask the user for a video call showing that the authorities are clicking on the photo of the required documents themselves.

Pros and Cons of Coinmate

Strong Points

It allows users to buy cryptocurrencies directly using EUR and CZK fiat currencies. This is a big plus, especially if you are from Eastern Europe.

Its trading fees are relatively low compared to some popular cryptocurrency exchanges.

Although focused on Europe, Coinmate also allows people from other parts of the world to sign up and use its services.

It supports a wide range of payment methods.

Coinmate’s user interface is easy to use and suitable for beginners.

Cons

Coinmate offers a great cryptocurrency trading experience, but the list of cryptocurrencies is very limited.

The exchange does not have a dedicated mobile platform that makes it easy to buy, sell and trade cryptocurrencies on the go. Its website is mobile friendly and fits seamlessly on the small screens of smartphones and tablets.

Coinmate typically allows customers from all over the world to register, but the exchange does not accept customers from the United States.

The only form of customer support at Coinmate is email, and it takes about a day to receive a reply. This can be very demoralizing, especially if you have an urgent issue.

Coinmate does not offer a wide range of crypto investment options. You can only buy, sell and trade. There are no services such as staking or liquidity mining.

Why use Coinmate to trade cryptocurrencies

If you are in Europe and want a simple crypto exchange that you can use to start investing in cryptocurrencies, Coinmate is for you. In addition to its user-friendly user interface, the exchange offers a lot of useful information about cryptocurrencies through its blog.

You can also buy cryptocurrencies using EUR or CZK.

final verdict

Choosing a good cryptocurrency exchange can be very difficult, especially in a market as volatile as the cryptocurrency market.

However, we hope the Coinmate review above has given you some insight to help you decide if Coinmate is right for you.

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