UPDATE 24 January 2023: Coindirect has announced that they will, as of this date, no longer be open to retail clients.
Why is Coindirect closing down?
We are announcing that after 5 years, Coindirect will be closing down its retail service and will be focusing our efforts on our B2B business. We are bullish on Crypto and our focus in the space will now be completely focused on delivering a world-class service to businesses.
When will Coindirect close down?
The Coindirect website and mobile app will remain accessible until the 24th of January 2023. On the 24th of January 2023, access to your account will be disabled and our agreement with you will terminate.
We ask that all our customers withdraw their crypto and fiat assets from the platform before the 24th of January 2023. We recommend doing this as soon as possible to ensure you don’t have to rush the process.
Please note that you are only able to withdraw cryptocurrencies to an exchange or wallet that supports them. Please pay extra attention to the wallet address & network you’re sending funds to.
Accordingly, we have marked the platform as "dead" in our Exchange Graveyard.
To find a reliable exchange where you can start an account, just use our Exchange List and we'll help you find the right platform for you.
What is Coindirect?
Coindirect is a centralized cryptocurrency exchange from Isle of Man. It has been active since 2017.
Coindirect offers trading in a decent number of cryptocurrencies. Not only the biggest, but not all of the smaller ones either. The exchange seems somewhat directed towards South African residents as the ZAR (the South African Rand) is the most clearly presented fiat currency to trade with. Other fiat currencies include, inter alia, EUR, NGN, GBP and AUD.
If you’re from the US, this exchange is out of reach for you. US-investors may not trade here. Don’t cry, however, there are many other venues that offer the type of trading this exchange does. Use our Exchange Finder to find out which alternatives you have.
Like most other cryptocurrency exhanges, Coindirect is also available through mobile use. You can download the Coindirect app for both iPhones and Android phones.
Coindirect Trading View
This is a print screen of the trading view at this exchange.
We don’t know about you guys but we really think this trading view is kind on the eyes. Also, the navy blue background color is more comfortable than the standard black background color. The color of the trading view background should of course not be the decisive factor when picking the right exchange to trade at, but it could nevertheless be one of many factors.
Coindirect Trading fees
This exchange doesn't divide between makers and takers. Instead, they divide between sellers and buyers.
For crypto-to-crypto trades, Coindirect charges sellers 0.50%. This is below the global industry average (arguably around 0.25%). Furthermore, Coindirect doesn’t charge buyers in the crypto-to-crypto trades anything. This is a very strong competitive advantage for this exchange.
Coindirect Withdrawal fees
Coindirect does not charge any withdrawal fees at all for withdrawing BTC, except for the network fee. The network fee is not charged by the exchange per se, so Coindirect is not in any way enriched by this fee. It should be noted though that there are exchanges that – as a favour to its customers – themselves assume the network fee so that the withdrawal for the customers in fact is 0.
To conclude, the withdrawal fees at this exchange are quite competitive.
Coindirect offers wire transfer as a deposit method, but you can’t deposit via credit card. Yet. The exchange states on its website that “credit card payments are coming soon”.