US investors permitted
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 LinkCoin consists of four parts: general information, fees, deposit methods and security.
LinkCoin is a Canadian cryptocurrency exchange.
Investors from the Canadian exchange’s neighbouring country the US are also permitted to trade here. However, as always, US-investors should do their own independent assessment of any possible problems arising from their residency or citizenship.
LinkCoin is different from most other exchanges listed on our website in the way it works. It is an entry-level cryptocurrency exchange affiliated with Bibox. As you might be aware, Bibox do not accept deposits of fiat currency. LinkCoin, however, does. In a sense, you could say that LinkCoin is a fiat currency gateway into Bibox.
In many ways, LinkCoin is like an online store. Investors at the exchange post different “advertisements”, where they offer a price quote for a specific cryptocurrency. This advertisement can be for both buying or selling or either one of those actions. If you as a buyer thinks the offer is attractive, you can just take it, then using a fiat currency as payment.
LinkCoin Trading fees
This Canadian cryptocurrency exchange doesn’t have taker fees or maker fees. They don’t really have flat fees either. Rather, what they do have is a “service fee”. The service fee amounts to 0.60% of the order value of the trade made by use of their advertising system.
If comparing 0.60% to normal trading fees, 0.60% is high. The industry average is arguably around 0.25%. However, there are dissimilarities between LinkCoin and other normal exchanges somewhat explaining the higher fee. We recommend investors using LinkCoin to themselves consider whether this fee is fair or not.
LinkCoin Withdrawal fees
The exchange charges a withdrawal fee amounting to 0.0006 BTC when you withdraw BTC. This fee is below the industry average and thus constitutes a competitive advantage against the majority of other top crypto exchanges in the market.
At this trading platform, you can deposit through both wire transfer and credit cards. This can be helpful especially for newer crypto investors.
One should generally look out for the different deposit fees charged by exchanges for deposit of fiat currencies via wire transfer or credit cards, and whereas it might be indifferent to you whether you should deposit via wire transfer or credit card, it might be very different fees. Some exchanges charge a deposit fee of up to a staggering 11% for credit card deposits.
LinkCoin’s security score is C, 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.
If you have concluded that this is the exchange for you, congratulations! Go for it. But if not, find the best cryptocurrency exchange site for you by using our revolutionary matching tool.