Coinone is a cryptocurrency exchange registered as Coinone Inc. in South Korea, one of the world's largest cryptocurrency trading centers, allowing users to buy and sell cryptocurrency.
The exchange, led by CEO Myeong-cha and overseen by a group of experts in the field, was launched in 2014 with the goal of creating a South Korean cryptocurrency trading platform that would be more user-friendly than other platforms that existed at the time. Coinone is backed by Kakao Ventures, a very large and reputable corporation in Korea
When it was first launched, it offered trading only in Bitcoin. Since then, it has expanded the range of supported cryptocurrencies, although still quite limited. However, this is not a problem, as the platform is more focused on offering practical and convenient features, rather than offering a wide range of cryptocurrencies.
Coinone is one of South Korea's largest entry-level crypto exchanges, as it offers fiat and cryptocurrency trading. To be able to trade on the platform, users must register as a full-featured member.
The platform offers margin trading with 167 trading pairs.
The downside is that only fiat deposits in the form of the South Korean currency, the South Korean won, are accepted. This means that the platform is most likely focused on the local South Korean market, rather than the global one. Cryptocurrency-to-cryptocurrency exchange is not available on this platform.
The platform offers a very limited translation of its functions. It is quite difficult for a non-Korean user to navigate the website correctly, which makes it unattractive for international users.
However, the website is practical and easy to use for those who understand Korean. It offers a convenient platform for trading and fulfills its task of usability.
The Coinone support team is available from 10: 00 to 19: 00 by email and phone.
Coinone has a fixed trading fee of 0.10%, which is significantly lower than the industry average of 0.25%. This makes the exchange more attractive to the average user compared to exchanges with higher fees, which allows for increased liquidity.
The exchange also charges a withdrawal fee of 0.0015 BTC, which is almost double the global industry average of 0.0008. This may be a disadvantage for some users, but combined with the competitively low trading fees, the exchange can still be considered attractive to investors.
There is no commission for the deposit
For security purposes, Coinone uses a two-factor authentication system( 2FA), multi-signature wallets, and ID verification when logging in to accounts. Despite the fact that it has been running for seven years, there were no problems with the security of the platform.1
- 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.