CoinZoom is a centralized cryptocurrency exchange, headquartered in the United States, and was launched in March 2020. It is led by Todd Crosland and a team with extensive experience in the financial services industry. The CoinZoom team also founded Interbank FX, a CFTC-registered company that is a member of the National Futures Association (NFA).
CoinZoom offers a wide range of cryptocurrencies, which should be enough for most traders. Sure, the platform features major cryptocurrencies like Bitcoin, Ethereum, and XRP, but it also covers DeFi favorites like Yearn Finance and Maker, as well as some smaller crypto assets.
CoinZoom currently offers USD-denominated trading pairs for approximately 25 cryptocurrencies. The exchange also lists trading pairs denominated in BTC and USDT, and offers more than 80 trading pairs in total.
The user interface of CoinZoom is quite simple and makes it easy to find the most important aspects of the platform. The price chart for the currently selected trading pair takes center stage, while you can access your account via the navigation bar.
A unique aspect of the price charts on CoinZoom is that users can choose between a huge selection of technical indicators that help with technical analysis.
When trading on CoinZoom, you can choose between market, limit, and stop orders. When placing an order, you can pay the fee with the ZOOM token to get a discount on the trading commission. Users familiar with Binance and the BNB token will feel right at home.
CoinZoom has a utility token called CoinZoom (ZOOM), which is similar to other popular cryptocurrency exchange tokens. Users can pay their trading fees with ZOOM to get a discount, or own ZOOM tokens to qualify for higher levels of the CoinZoom Visa card.
Other benefits of holding ZOOM include giveaway rights, stacking bonuses, and access to ZoomMe payments. ZOOM is an ERC-20 standard token on the Ethereum (ETH) blockchain.
CoinZoom offers a cryptocurrency debit card that uses the Visa payment network. This means that it can be used in millions of sellers around the world. When a user makes a payment using their CoinZoom Visa card, their CoinZoom cryptocurrency balances are automatically converted to fiat currency and sent to the merchant. Currently, CoinZoom Visa cards are only available to CoinZoom users located in the United States.
CoinZoom has the CoinZoom Pro mobile app, which is available on the iOS and Android mobile platforms. CoinZoom Pro offers most of the features available in the desktop version, and should be a useful assistant for CoinZoom users.
As mentioned above, CoinZoom offers pairs denominated in US dollars. CoinZoom accounts can be replenished in various ways. The platform supports deposits in cryptocurrency, and users who want to top up their accounts with fiat can use a debit card, bank transfer or ACH.
Trade commissions are set at 0.20% for producers and 0.26% for participants. These fees are competitive with industry standards and can be further reduced depending on how many ZOOM tokens the user holds.
Fee for withdrawing cryptocurrency depends on the specific crypto asset, but is usually quite low.
Since CoinZoom is a centralized exchange, it is fully regulated by US law, which implies compliance with all regulatory security standards provided by financial regulators.
- 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.