CoinMate is a European cryptocurrency exchange founded in 2014 and headquartered in London. It has exchanged Bitcoin for more than 218 million euros, and its goal is to offer simple and affordable peer-to-peer payments in the digital currency. With the support of the Euro (EUR) and the Czech Krona (CZK), CoinMate offers a fast and convenient way to trade Bitcoin, Bitcoin Cash, and Litecoin.
Based in Europe and offering support for the euro and CZK, CoinMate's main target market is concentrated in European countries. However, it offers its services to customers from all over the world.
CoinMate offers a simple type of trading for those who want to quickly buy cryptocurrencies, as well as an advanced type of trading for users who want to follow market events. CoinMate supports 17 major cryptocurrencies, and offers a range of deposit and withdrawal options for ease of use.
Created with a focus on usability, CoinMate claims to allow users to buy and sell cryptocurrencies at a real exchange rate.
With low fees and a variety of very localized ways to top up your accounts, Coinmate is a great option for traders in underserved markets. The volume is a bit behind, but for small orders of a few coins or less, buying and selling shouldn't be a problem.
Coinmate offers two separate trading interfaces: "Quick buy / sell", which is essentially a market order interface, displays the best price available from the order book. This interface is aimed at beginners. Please note that a fee is automatically charged for these orders.
The second interface is a more complex interface that allows you to place limit orders. There is a simple little charting feature offering Coinmate stacking, available at different time intervals, order history, and a trader chat window.
The actual order book is displayed under the sales invoice. CoinMate is the top 8 BTC / EUR exchanges, but the volume may be small, and completing orders above a few BTC will most likely give you an average spread of around 3 euros.
The Coinmate mobile app has a responsive design and can be used quite simply on most portable devices.
Methods of depositing and withdrawing funds on the exchange:
- SEPA transfer to Euro;
- SOFORT instant bank deposit;
- Domestic bank transfer in CZK and PLN;
- Cryptocurrency - BTC, LTC, BCH.
The crypto exchange charges the following fees::
- Maker - 0.05%
- Taker - 0.35%
If you are in the top 10 traders (by BTC trading volume) in any given month, you will be charged lower fees (producer commission-0.00%, and taker commission-0.10%) for BTC transactions in the following month.
The fee for depositing and withdrawing funds from the account depends on the selected payment method. Withdrawal of 1 BTC - 0.00001 BTC / 0.00002 BTC.
CoinMate claims to use three types of crypto wallets: hot, cold, and super-cold. Only a hot wallet containing a limited amount of funds stores the keys on the network. Customer funds are held separately from CoinMate funds, so if the company ever becomes insolvent, customers will be able to access their account balance.
CoinMate takes security measures quite seriously. The exchange also supports two-factor authentication from Google Authenticator, so using this feature provides an additional layer of security for your account. The platform also rewards users for detecting and reporting bugs, helping to identify any potential security vulnerabilities.
- To own your crypto assets, you need to manage your own private keys.
- Ledger hardware wallets make private key management easy and secure.
- Each unique 24-word recovery phrase creates a new set of private keys.
- Make sure you secure your 24-word recovery phrase properly.