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 Coinone consists of four parts: general information, fees, deposit methods and security.
Coinone is one of the major South Korean cryptocurrency exchanges. There is a large number of South Korean cryptocurrency exchanges, as the country has been one of crypto’s strongholds since early on. In addition to this exchange, the list also includes (but is not limited to): Bithumb, Korbit, Coinnest, Coinrail, Gopax and UPbit.
This exchange has been in business since 2014 and the team behind it is experienced. We have not seen any reports of a major hack at this exchange. That is more than what you can say about one of their biggest competitors – Bithumb.
US-investors may not trade on this exchange. So if you are a US-investor and want to trade here, you’ll have to reconsider your choice of trading venue and choose one of the other top crypto exchanges.
Coinone 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 Coinone (the basic one, there is also a “pro”-version):
Coinone Trading fees
This South Korean coin exchange doesn’t charge different fees between takers and makers. Their fee model is instead something called a “flat fee model”. Coinone – like Coinnest – offers a flat trading fee of 0.10%. The exchange does accordingly not distinguish between takers and makers. For investors who prefer to pick-up existing orders from the order book, this might be an attractive trading fee model. 0.10% trading fees is far below the industry average which is around 0.25% and thus constitutes a strong competitive advantage against the majority of other top crypto exchanges in the market.
Coinone Withdrawal fees
Many exchanges have competitive trading fees but then hit you on the way out with their withdrawal fees. Coinone – on the other hand – charges a withdrawal fee of 0.0005 BTC when you withdraw BTC. This fee is below the industry average.
Coinone offers wire transfer as a deposit method, but credit cards is not an available deposit method.
Coinone’s security score is D+, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is in line with industry average when it comes to top crypto exchanges.
The exchange reviewed above is what we call an “entry-level exchange”. This means that this exchange also makes it possible for someone to enter the cryptocurrency market with fiat currency. There are numerous entry-level exchanges out there, including (but not limited to):