Review on CoinMate by Temitope Babatunde
Coinmate, An Exchange Made For European People.
Coinmate Exchange is an European exchange established in 2014 with the objective of making the trading of cryptos under the European jurisdiction, simple, secure and fast. In other to achieve it's objective it doesn't support so much cryptos or any unpopular coins, instead it only allows the trading of major coins on it's platform.
Until March 2020 the exchange accept the deposit of 2 fiat currencies, but due to the problem with the partnered bank this is under suspension for now. The fee regime is attractive because the maker only pay 0.05 percent as fees while taker pay 0.15 as fees, even as your trading volume increases so also your fees will be decreasing. Withdrawal fee is also competitive and it depends on the type of coins one is withdrawing.
To use this exchange one have to do some KYC in other to have unlimited access to all their services unless one will be limited due to this. For the purpose of security the deposited funds are store in separate 3 wallets, hot, cold, and super cold wallet. There customer support service is up and doing and always respond promptly to call from their customer, you can contact them through email on their website.
Pros
- It accept deposit of fiat asset through wire transfer, but this is under suspension for now, but according to them will resume very soon.
- It was registered in United Kingdom.
- It is faster and secure.
- The transaction fees is below the market average.
- According to their claim, customers fund are store in cold wallet for security purpose.
Cons
- Mainly created for people that are living under European jurisdiction.
- It only support view cryptocurrencies.
