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 CoinLoft consists of four parts: general information, fees, deposit methods and security.
CoinLoft is an Australian cryptocurrency exchange. CoinLoft proudly states that they are a member of the ADCA (the Australian Digital Commerce Association). The exchange also has a representative on the board of ADCA.
US-investors may not trade on this exchange. So if you are a US-investor and want to buy Bitcoin at CoinLoft, you’ll have to reconsider your choice of trading venue and choose one of the other top crypto exchanges.
CoinLoft 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. At this exchange, there are no fancy trading view functions with candle stick charts or anything similar. These six green boxes constitute the entire trading view at CoinLoft:
The exchange has also added a process overview on its website. This is naturally very helpful. The below seems easy enough, doesn’t it?
CoinLoft Trading fees
The fees at any exchange are also very important to consider.
This trading platform is different from most top crypto exchanges in the way that it does not offer trading between cryptocurrencies. The only service offered is selling BTC. When buying BTC from the exchange, the purchase price offered by this exchange is usually way higher than the market price. The purchase price offered also includes 5% commission, being the exchange’s service fee. This is far above the industry average and constitutes a strong disadvantage for this exchange.
CoinLoft Withdrawal fees
Considering how this exchange operates, withdrawal fees are irrelevant.
At CoinLoft, you can deposit through both wire transfer and credit cards. This can be helpful especially for the newer crypto investors.