What is Coinmerce?
Coinmerce is an exchange registered in the Netherlands, with headquarters in Aalsmeer. As of 9 November 2020, Coinmerce became registered with the Dutch Central Bank. The exchange stated, in connection with this:
- We are happy, especially because we are the first all-in-one platform offering both wallet and trading functionalities in The Netherlands that is accepted.
Fast & Simple
The main benefits of this trading platform seems to be speed and simplicity. Amazingly enough, you can buy cryptocurrency here with only three clicks! That is, after you have created an account of course. Three clicks is definitely very fast.
Many Supported Cryptos
In addition, as you can purchase more than 200 different cryptocurrencies, you will surely find most of the cryptocurrencies you are interested in purchasing here. In spite of offering such a large number of cryptocurrencies to its users, Coinmerce still states that they only support cryptos they “believe to be legitimate projects”.
Like many other exchanges, Coinmerce’s trading platform is also available for mobile phones. You can download the application on both the App Store for iPhones and Google Play for Androids.
US-investors may not trade here. The primary reason for excluding US-investors from fiat-to-crypto trading is legal. The US-legal regime imposes obligations on many companies accepting funds from US-investors. Such obligations include, inter alia, preparing marketing material in accordance with SEC-standards and registering them with the SEC (a burdensome process). If you’re a US-investor looking for a platform where you can trade, use our Exchange Finder to find out which alternatives you have.
Coinmerce 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. At this exchange, there is only an order box and a neat price chart. This makes it easily understandable for new crypto investors, while it might lack some features that more experienced traders look for. The below is a picture of the purchase and sale interface at Coinmerce:
The exchange also offers repeat orders (set an automated order for a fixed period) and the more common stop-limit orders (set an automated order for a fixed price).
Coinmerce Trading fees
You should never forget to check the trading fees and withdrawal fees at an exchange you are interested in trading at. Coinmerce is different from many other exchanges in the way that it does not offer trading between cryptocurrencies. The service Coinmerce offers is to buy and sell different cryptocurrencies. When buying a cryptocurrency from the exchange, the purchase price offered by the exchange is somewhat higher than the market price (the exchange must make its profit somehow). Conversely, when selling a cryptocurrency here, the price offered is somewhat lower than the market price. The mark-up or markdown is not specified anywhere.
However, on the date of last updating this review (29 May 2020), we compared the purchase/sell prices at Coinmerce with the current market rate at Coinmarketcap and then noticed that there was a 1.57% price difference. Accordingly, we have listed 1.57% as the maker/taker trading fees for this platform.
Coinmerce Withdrawal fees
There are exchanges out there that charge low trading fees and then hit you with high withdrawal fees. Because once you’re in, you can’t get out without paying withdrawal fees. This exchange, however, is on the opposite side of the spectrum. They charge 0.00042 BTC per BTC-withdrawal. This is a decent withdrawal fee and it is actually even below the global industry averages (around 0.0006 BTC).
Coinmerce accepts deposits through a wide range of methods. For instance, you can deposit through iDeal, Sofort, Online überweisen, Bancontact, SEPA-transfer or EPS, MyBank & Creditcards (Visa & Mastercard). Accordingly, Coinmerce qualifies as what we call an “entry-level exchange” where new cryptocurrency investors can take their first steps into the exciting cryptocurrency world.