Review on Coinone by phuong cong
3rd largest Korean exchange -CoinOne
Korea-based exchange established in 2014 by Chan Myung Hun. The exchange was created with the purpose of becoming a user-friendly exchange. Initially, it was trading only BTC, but later this time along with the development of the market many new cryptocurrencies were added to this exchange such as ETH, BCH, etc.
It is rated as Korea's 3rd largest exchange after Bithum and Upbit.
Cryptocurrencies will be traded with KRW - South Korean fiat.
The Coinone trading volume reported by CMC is always in the high ranking.
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Pros
- Very low transaction fee, only 0.1% for each successful order
- Low withdrawal fees, they do not charge a deposit fee
- Good security, reputation for users
- Coinone's ecosystem is constantly expanding and developing, from trading platform to expanding payment services
Cons
- The exchange is only suitable for Korean users, cryptocurrency transactions must use KRW as the base currency.
- The KYC process is complicated and the processing time is longer if you are not a Korean citizen
