Review on Koinim by Mathias David
I Don't Really Recommend The Koinim Exchange Platform To Traders
TAnother exchange platform seemed to catch my fantasy recently and I decided to publicize it. The fact that it caught my fantasy doesn't mean it attracted me sincerely, it actually surprised me. This exchange platform is known as the Koinim exchange platform. It is a Turkish exchange platform that has been in existence since the year 2013, leaving it as the oldest and well known exchange platform in Turkey.
This exchange platform seems to have surprised me alot as they have some features that makes me think if these type of companies are actually aware of the competition that is going on in the blockchain industry generally. I would start with their user interface. One of the first things I check out in an exchange platform is the user interface. This is because of the fact that I can vividly remember when I was still new to the blockchain network, I had problems with understanding most interfaces. The Koinim exchange platform happens to be one with a nice interface, I must confess. The only problem I have with the interface is the fact that they have some information in Turkish. With this, I'm kinda believing the fact that this exchange platform focuses mainly on the Turkish market.
The next thing I would be discussing is their trading fees. Trading fees happens to be relevant to traders as it is a major determining factor in selecting the type of exchange platform to use. The Koinim exchange platform happens to charge a fee that I don't find nice at all. This is because the Turkish exchange platform charges a flat fee of 0.4% for both Makers and Takers. This is even higher than the industry's average of 0.25% and not even close to the competitive fee of 0.1%, I dont really know how the Turkish traders find this fee but as for me, I find it just too high.
Trading pairs should be the next topic on this review and that's exactly where I would be going now. The Koinim exchange platform tends to accept a fairly nice range of cryptocurrencies, I call it fairly nice because their crypto pairs isn't too much. Another thing is the fact that the exchange platform accepts fiats but this fiat is narrowed to just the Turkish Lira, another fact that proves the statement that the exchange platform is focused mainly on the Turkish market.
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Pros
- The exchange platform has a really nice user interface and I also find it easy to understand
- The exchange platform accepts a fair range of cryptocurrencies
- They accept both fiats and cryptocurrencies, although the fiats is limited to only the Turkish Lira
- The exchange platform happens to be multilingual as it has its interface in Turkish too, aside English
Cons
- They have a very high trading fee. 0.4% is not close to a competitive fee at all
- The exchange platform happens to be focused on the Turkish market majorly
- The exchange platform happens to have a support team that I don't find too helpful
