A trading cryptocurrency guide must provide reviews of all of the top crypto exchanges out there, so that you can find the best cryptocurrency exchange site for you. This review of CoinEgg consists of four parts: general information, fees, deposit methods and security.
CoinEgg is a cryptocurrency exchange based in the United Kingdom. United Kingdom is the country which without a doubt has the most cryptocurrency exchanges in the world. At least that we know of. A non-exhaustive list of exchanges from the UK (in addition to this one) includes Exmo, CEX.io, Livecoin, DSX, LocalTrade, Bittylicious (funny name by the way), CoinMate, Indacoin, MixCoins, Paybis, Vaultoro, Instant Bitex and eToro.
As most other major cryptocurrency exchanges, CoinEgg also offers its trading platform in mobile format for both iPhones and Android phones. Statistically, most people do their cryptocurrency trading via desktop computer, but if you prefer to do it while on your mobile you can easily do so here.
This exchange does not list US-investors as prohibited from trading, but US-investors should do their own independent assessment of any problems arising from their residency or citizenship.
CoinEgg has previously been one of the exchanges with the absolutely best liquidity in the world. On 5 July 2019, CoinEgg’s 24 hour trading volume was USD 1.53 billion. Only two exchanges (Binance and OKEx) had a higher 24 hour trading volume this day. On the date of last updating this review (23 March 2020, right in the middle of the crisis with COVID-19), the trading volume had dropped substantially though. On that day, the 24 hour trading volume was only USD 98.4 million, placing the exchange on place no. 74 on Coinmarketcap's 24 hour trading volume list.
CoinEgg Trading View
Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you. The below is a picture of the trading view at CoinEgg:
CoinEgg Trading fees
Fees are of course extremely important to consider when picking the exchange that is supposed to be the best cryptocurrency exchange site for you.
Every trade occurs between two parties: the maker, whose order exists on the order book prior to the trade, and the taker, who places the order that matches (or “takes”) the maker’s order. Makers get their name from the fact that their orders make the liquidity in a market. Takers are the ones who remove this liquidity by matching makers’ orders with their own. A number of top crypto exchanges don’t charge different fees between takers and makers. Usually, you say that such exchanges’ trading fees are “flat”.
CoinEgg is one such exchange, offering flat trading fees of 0.10%. This fee is roughly in line with industry average.
CoinEgg Withdrawal fees
The exchange charges a withdrawal fee amounting to 0.001 BTC when you withdraw BTC. This is in line with industry average.
CoinEgg does not accept any other deposit method than cryptocurrencies, so crypto investors that are completely new in the world of crypto are restricted from trading here. If you don’t have any crypto but want to start trading here, you will first have to purchase cryptocurrencies from another exchange and then, as a second step, deposit them at CoinEgg.
CoinEgg’s security score is F, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is below industry average when it comes to top crypto exchanges.
Liquidity is something very important for all exchanges, crypto exchanges but also regular stock market exchanges. The above exchange does indeed have decent liquidity. However, the following exchanges are also regularly among the ones with the best liquidity in the world: