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UPDATE 23 March 2023: When trying to access the website of CoinCasso today, we were unsuccessful. As far as we know, there have been no preceding messages on system maintenance or new websites or anything similar. We are met with the following error message when trying to access the website:
Accordingly, we believe that this exchange has closed down and we have marked it as "dead" in our Exchange Graveyard. If the exchange's website would become accessible again and the error is just temporary, we will "revive" it and bring it back to our Exchange List.
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What is CoinCasso?
CoinCasso is a cryptocurrency exchange registered in Estonia and has been active since 2019. The platform has - as is customary - two Estonian licenses
- Financial services, providing a virtual currency wallet service (FRK000282);
- Financial services, providing services of exchanging a virtual currency against a fiat currency (FVR000340);
These licenses are both issued by the Estonian Police and Boarder Authority (Politsei - ja Piirivalveamet).
The platform is available in four languages: English, Polish, Russian and Turkish.
On the date of last updating this review (2 December 2021) the 24-hour trading volume at this platform was USD 107,613 according to Coinmarketcap. This trading volume is unfortunately very low and needs dramatic improvements before we can recommend anyone to start an account here. Trading volume and order book depth is very important for any trader as it ensures that he/she can sell/buy whenever he feels like it and won't get stuck holding positions that he/she would like to divest but can't due to poor liquidity.
CoinCasso Mobile Support
Most crypto traders feel that desktop give the best conditions for their trading. The computer has a bigger screen, and on bigger screens, more of the crucial information that most traders base their trading decisions on can be viewed at the same time. The trading chart will also be easier to display. However, not all crypto investors require desktops for their trading. Some prefer to do their crypto trading via their mobile phone. If you are one of those traders, you’ll be happy to learn that CoinCasso’s trading platform is also mobile compatible (at least the platform wallet is). You can download it to/from both the AppStore and Google Play.
Why do so many exchanges not allow US citizens to open accounts with them? The answer has only three letters. S, E and C (the Securities Exchange Commission). The reason the SEC is so scary is because the US does not allow foreign companies to solicit US investors, unless those foreign companies are also registered in the US (with the SEC). If foreign companies solicit US investors anyway, the SEC can sue them. There are many examples of when the SEC has sued crypto exchanges, one of which being when they sued EtherDelta for operating an unregistered exchange. Another example was when they sued Bitfinex and claimed that the stablecoin Tether (USDT) was misleading investors. It is very likely that more cases will follow.
It is unclear to us whether CoinCasso permits US investors or not. We have read their Terms and Conditions and have not found an explicit prohibition of US investors. We urge any US investors to form their own opinion on the permissibility of their trading at CoinCasso though.
CoinCasso Trading View
Every trading platform has a trading view. The trading view is the part of the exchange’s website where you can see the price chart of a certain cryptocurrency and what its current price is. There are normally also buy and sell boxes, where you can place orders with respect to the relevant crypto, and, at most platforms, you will also be able to see the order history (i.e., previous transactions involving the relevant crypto). Everything in the same view on your desktop. There are of course also variations to what we have now described. This is the trading view at CoinCasso:
The "market trend" indicator is something that we don't normally see, so that's quite interesting. Otherwise, the trading view is fairly standard and includes the features that are normally included on a crypto trading platform.
It is up to you – and only you – to decide if the above trading view is suitable to you. Finally, there are usually many different ways in which you can change the settings to tailor the trading view after your very own preferences.
CoinCasso Trading fees
Every time you place an order, the exchange charges you a trading fee. The trading fee is normally a percentage of the value of the trade order. Many exchanges divide between takers and makers. Takers are the one who “take” an existing order from the order book. Makers are the ones who add orders to the order book, thereby making liquidity at the platform.
CoinCasso charges what we call flat fees, meaning that both the takers and the makers pay the same fee when it comes to spot trading: 0.25%. These spot trading taker fees are a bit above the global industry averages for centralized exchanges. Sure, industry averages have historically been around 0.20-0.25% but we now see new industry averages emerging around 0.10%-0.15%. According to Cryptowisser.com's latest empirical study, the industry average spot trading taker fees were 0.217% and the corresponding spot trading maker fees were 0.164%.
You can also receive discounts on your trading fees if you engage in staking of the platform's native token, the CCX-token. The staking levels required are set out in the below table. On the date of first writing this review (13 February 2021), we were unable to determine the USD-value of the CCX-token. The information was not available on Coinmarketcap or Coingecko. The only crypto with the ticker CCX that we could retrieve information on was the Conceal Token.
CoinCasso Withdrawal fees
This exchange does not charge any withdrawal fees themselves. However, as always, there are network fees involved when making a transaction. This means that the only fee you need to be concerned with when withdrawing from this platform, is the network fees paid to the miners. This withdrawal fee, or rather lack of withdrawal fee, is below the industry average and competitive.
CoinCasso lets you deposit assets to the exchange in many different ways, through wire transfer, debit card, and also by just depositing existing cryptocurrency assets.
Seeing as fiat currency deposits are possible at this trading platform, CoinCasso qualifies as an “entry-level exchange”, meaning an exchange where new crypto investors can start their journey into the exciting crypto world.