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 Coinsecure consists of four parts: general information, fees, deposit methods and security.
UPDATE: Please note that this exchange is currently not available, following the theft of 438.318 BTC from the exchange on 9 April 2018. The exchange’s website currently only features the following announcement:
Coinsecure is an Indian cryptocurrency exchange.
US-investors may not trade on this exchange. So if you are a US-investor and want to trade at Coinsecure, you’ll have to reconsider your choice of trading venue and choose one of the other top crypto exchanges.
Coinsecure Trading fees
This trading platform offers a flat trading fee of 0.40%. It 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. 0.40% is however a fee that is above the global industry average. The global industry average is arguably around 0.25%. One should consider whether Coinsecure has a strong offering to investors in other respects that outweighs the disadvantage of this somewhat higher trading fee.
Coinsecure Withdrawal fees
We are unable to determine the withdrawal fees charged at this exchange. The information is not on their website. This is potentially a risk for you as an investor (if the exchange does not inform of the fees anywhere, there is a higher risk that they are high). Accordingly, we strongly urge you to make your own analysis of the withdrawal fees at this exchange before depositing any funds here.
Coinsecure offers wire transfer as a deposit method, but you can’t deposit via credit card. This of course negative news to you if you would prefer to use your credit card for any reason.
One might ask why security is even a feature that we at Cryptowisser have looked for at the different top crypto exchanges. Two reasons:
- Exchanges store a massive amount of valuable personally identifiable information. From names to addresses, to government identification details, taxpayer identification number and a lot more; and
- Exchanges handle of course a lot of cash or coin deposits and withdrawals.
Coinsecure’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 and you should be very careful when depositing funds at this exchange.
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):