Coinsbank Review 2024

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Last update: 12 months ago

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CoinsBank is a cryptocurrency platform launched in 2016, offering an “all-in-one” gateway for managing digital currencies like Bitcoin, Ethereum, Litecoin, and Ripple. One of its standout features is its support for fiat currencies, including USD, EUR, GBP, and more, which makes it appealing for users dealing with both crypto and fiat.

The platform is known for integrating services such as a crypto wallet, an exchange, and a merchant solution for businesses to accept cryptocurrency payments. Additionally, CoinsBank provides a debit card linked to the wallet, enabling users to spend their crypto globally.

However, while CoinsBank boasts user-friendly features and strong security protocols, including two-factor authentication and cold wallet storage, it does have notable downsides. Its trading fees are higher than the industry average, with a 0.5% fee for both makers and takers. Deposit and withdrawal fees, particularly for fiat currencies, can be steep, especially for wire transfers, making it a pricier option compared to other exchanges. The platform supports only four cryptocurrencies, which may limit traders seeking a broader selection

Pros

Cons

Investing risks losing your money

2,5

Threenvest Score

Fees

0,20%/0,50%

U.S Legal

With the confidence of Threenvest

Year Founded: Established in 2016, CoinsBank has been active for several years, providing a stable and evolving service platform in the cryptocurrency exchange market.

Customer Service: Offers a comprehensive array of customer support options including email, telephone, and live chat, ensuring that users have access to assistance whenever needed.

Security Methods: Implements robust security measures including two-factor authentication (2FA), cold storage of funds to protect user assets, and SSL encryption for data security.

Reputation and Reviews: Despite some challenges, CoinsBank has managed to maintain a mix of positive reviews particularly for its user-friendly interface and multi-functional platform, highlighting its commitment to customer satisfaction.

Regulation: CoinsBank is licensed under the International Financial Services Commission (IFSC) of Belize and is registered with FinCEN MSB in Belize, indicating compliance with certain regulatory standards.

Best Crypto Exchanges

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About Coinsbank

Introduction

CoinsBank, originally launched in 2014 as BIT-X before rebranding, is a cryptocurrency exchange based in Belize but deeply connected with the UK through its operational management. This exchange presents itself as an all-in-one gateway to blockchain services, emphasizing its commitment to revolutionizing access to blockchain technology.

What is CoinsBank?

CoinsBank is a versatile platform that offers a comprehensive range of blockchain-related services including an exchange, wallet, crypto cards, and merchant gateway solutions. This multifunctional approach aims to provide users with a seamless experience, catering to a variety of needs within the cryptocurrency domain.

Background and History

Established in April 2016, after rebranding from BIT-X, CoinsBank was conceived to enhance the accessibility of blockchain technologies. It operates under the license and regulatory framework of the International Financial Services Commission (IFSC) in Belize, ensuring compliance and security for its users.

Founders

The platform’s leadership details are scarce, but publicly known figures include Vitaly Andrusevich, who is frequently associated with the company in various capacities. Information about other team members or founders like Ronny Boesing is limited, which presents a challenge in evaluating the depth and expertise of the leadership.

Interesting Facts:

CoinsBank merged the functionalities of debit cards with digital wallets, allowing seamless transactions and currency conversions.
It stands out for its early adoption of offering a mobile app, enhancing trading flexibility.
Despite its broad service range, CoinsBank maintains a focus on user-friendliness, aiming to make blockchain technology accessible to non-experts.

Why Choose Coinsbank?

Choosing CoinsBank as your cryptocurrency exchange can be a sensible decision for several reasons, especially if you value convenience and a range of services.

Firstly, the platform’s user-friendly interface makes it accessible for beginners and those who may not be as tech-savvy. This ease of use is extended through their mobile app, which allows users to manage their crypto assets on the go, making trading and monitoring investments straightforward and hassle-free.

Secondly, CoinsBank offers a variety of blockchain services, not just cryptocurrency trading. These include wallet services, crypto cards for everyday purchases, and merchant gateway services, which are particularly beneficial for business owners looking to accept crypto payments. This multifunctionality makes it a one-stop shop for several crypto-related needs, adding a layer of convenience for users.

Lastly, the security measures in place at CoinsBank, such as two-factor authentication and cold storage of assets, provide a reassuring level of protection for your investments. While there are concerns about its fee structure and some operational transparency, the platform’s longevity in the market and regulatory compliance suggest a reliable service. For those looking to explore multiple aspects of the crypto world under one roof, CoinsBank could be a compelling choice.

Where it falls short

High Transaction Fees: One of the most critical areas for improvement is the fee structure. CoinsBank charges relatively high trading and withdrawal fees compared to other exchanges. Reducing these fees could make the platform more competitive and attractive to a broader range of users, from casual traders to more volume-heavy investors.

Transparency and Team Visibility: The lack of information on the team and the company’s operations has led to some distrust among users. Improving transparency by providing more detailed information about the team, their backgrounds, and clearer details on operational processes would help build more trust and credibility. It’s crucial for users to feel confident that the team behind the platform is competent and trustworthy.

Features	Explanation
Minimum Trade	The platform offers a low minimum trade amount, making it accessible for beginners or those looking to start with small investments.
Trading and Transaction Fees	CoinsBank charges higher than average fees, which could be a deterrent for high-volume traders.
Number of Cryptocurrencies	Offers a moderate selection of cryptocurrencies including major ones like Bitcoin, Ethereum, Litecoin, and Ripple, but lacks a wider range as seen in larger exchanges.
Crypto-to-Crypto Trading Pairs	A decent range of trading pairs is available, though not as extensive as some of the larger platforms.
Website Transparency	The platform lacks some transparency regarding team details and operational insights, which could affect user trust.
Credit/Debit Card	Dont’ have crypto card
Storage Offering	Excellent security measures with cold storage options that ensure the safety of digital assets.
Staking and Rewards	Offers some staking options, but the rewards and varieties are not as competitive as other top exchanges.
Mobile App and Desktop	Both mobile and desktop platforms are user-friendly and reliable, suitable for trading on the go.
Customer Service	Provides various channels for support including live chat and email, although response times can vary.
Deposit and Withdraw	Supports multiple deposit and withdrawal methods including bank transfers and cards; however, the high fees on certain transactions can be a disadvantage.

Investing risks losing your money

Xavier Tarrasó

EIP and Cryptocurrency Investor

As an expert on our website, I’ve extensively evaluated CoinsBank and can confidently share my insights. For individuals new to cryptocurrencies or those seeking a multifunctional platform, CoinsBank stands out with its user-friendly interface and versatile offerings, including wallets, cards, and merchant services. However, it’s crucial to be aware of the higher transaction fees and the limited information about the team behind the scenes. These factors should be carefully considered when deciding if CoinsBank aligns with your trading and investment needs. Overall, if convenience and a variety of services are your priority, CoinsBank could be a suitable choice.

Fees

CoinsBank structures its commission model to accommodate both crypto-to-crypto and fiat-to-crypto transactions. The trading fees are notably higher than the industry average, typically around 0.50% for takers, which is double the more commonly seen rate of 0.25% among various exchanges. This elevated fee structure can impact high-volume traders significantly, making it a critical consideration for anyone looking to use CoinsBank for frequent trading activities.

Pros

Fiat-to-Crypto Accessibility: CoinsBank allows users to easily convert fiat into crypto, providing a gateway for new users to enter the cryptocurrency market.
Straightforward Fee Structure: The trading fees, though high, are clear and straightforward, avoiding confusion for users when conducting transactions.
Multi-Currency Support: Supports various fiat currencies, allowing for broader global accessibility and convenience in trading.

Cons

Concluding Thoughts

In conclusion, while CoinsBank offers a user-friendly platform with a range of services, its fee structure is a significant drawback that could deter both new and experienced traders. Those considering CoinsBank should weigh the benefits of its services against the potential cost implications of its fee policy. As always, it’s advisable for users to conduct comprehensive research and consider multiple platforms to find one that best meets their trading needs and financial strategies.

Product selection

CoinsBank offers a comprehensive suite of services and products tailored to both novice and experienced cryptocurrency users. At its core, the exchange facilitates the buying, selling, and trading of cryptocurrencies with both fiat and other cryptocurrencies. Beyond basic trading, CoinsBank provides an integrated wallet service, enabling users to store their digital assets securely. The platform also features a unique offering of blockchain-based debit cards, which can be used just like traditional bank cards but are funded with cryptocurrencies, enhancing the usability of digital assets in everyday transactions. In addition to these services, CoinsBank organizes blockchain cruises, which serve as networking and educational events, bringing together industry leaders to discuss various aspects of cryptocurrency and blockchain technology. This blend of financial services and community engagement initiatives makes CoinsBank a versatile platform catering to a broad spectrum of crypto-related needs.

Pros

Integrated Solutions: CoinsBank offers a well-rounded suite of services including an exchange, a multi-currency wallet, and a crypto debit card, making it convenient for users to manage all their crypto needs within a single platform.
Blockchain-Based Debit Cards: These cards link directly to users' CoinsBank wallets, allowing for easy spending of cryptocurrencies at locations that accept card payments, thus bridging the gap between digital and traditional fiat spending.
User-Friendly Interface: The platform is known for its intuitive design, which makes it accessible for beginners while still providing advanced features for experienced users.

Cons

Limited Cryptocurrency Options: While CoinsBank offers some of the major cryptocurrencies, its selection is less extensive compared to larger exchanges, which may limit trading opportunities for those looking to deal in less common or newer digital currencies.
High Fee Structure: The platform's higher-than-average fees for transactions and withdrawals can be a significant drawback, especially for high-volume traders who may find these costs cutting into their profitability.

Read more about product selection in Coinsbank

CoinsBank stands out in the cryptocurrency exchange landscape not only for its trading capabilities but also for the extensive range of services and products it offers. This makes it a versatile platform catering to a variety of user needs. Here’s an extensive overview of the services and products provided by CoinsBank:

Exchange Services

CoinsBank offers a robust trading platform that supports the exchange of major cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and Ripple. Users can trade these cryptocurrencies against major fiat currencies like USD, EUR, and GBP, which facilitates easy entry and exit from the crypto market.

Blockchain Wallet

CoinsBank provides a secure wallet service where users can store, send, and receive various cryptocurrencies. This digital wallet is integrated with the exchange and the blockchain debit card, offering a seamless user experience.

Blockchain Debit Cards

One of the unique offerings of CoinsBank is its blockchain-enabled debit cards. These cards allow users to spend their cryptocurrency holdings as easily as traditional fiat currencies in places that accept card payments. This bridges the gap between digital currencies and everyday transactions, enhancing the practical usability of cryptocurrencies.

Merchant Gateway Services

For businesses looking to accept cryptocurrency payments, CoinsBank offers merchant gateway services. This allows businesses to seamlessly integrate crypto payments into their operations, broadening their customer base to include those who prefer paying in cryptocurrencies.

Mobile Application

CoinsBank has a mobile app available for iOS and Android, which provides all the functionalities of the desktop platform. This app allows users to trade, manage their wallet, and use their blockchain debit card from anywhere, providing convenience and flexibility.

Educational Resources

CoinsBank is committed to educating its users about cryptocurrencies and blockchain technology. It offers various resources, including articles and guides on the basics of blockchain, cryptocurrency investments, and market trends. These resources are valuable for both new and experienced users looking to deepen their knowledge.

Additional Features:

Staking and Rewards: CoinsBank offers staking services where users can earn rewards by holding certain cryptocurrencies. This is a great way to generate passive income from crypto holdings.
Security Features: The platform employs robust security measures, including two-factor authentication (2FA) and cold storage for the majority of customer funds, ensuring a high level of security for user assets.
Customer Support: CoinsBank provides 24/7 customer support, ensuring that users can get help whenever they need it. This support is available through multiple channels including live chat, email, and phone.

By providing a broad spectrum of services and products, CoinsBank not only catifies the needs of individual cryptocurrency users but also supports businesses in integrating cryptocurrencies into their operations. This comprehensive approach makes CoinsBank a notable player in the cryptocurrency services market.

Account opening

Opening an account with CoinsBank is a straightforward process designed to be user-friendly. To start, users need to visit the CoinsBank website and click on the ‘Sign Up’ button. They will be required to provide basic personal information such as their name, email address, and phone number. After submitting this information, users will receive a verification email to confirm their account. Once verified, they can proceed to complete their profile by providing additional details and setting up two-factor authentication (2FA) for enhanced security. This ensures that the account is well-protected from unauthorized access.

The final steps involve verifying the user’s identity and address, which is a standard practice to comply with Know Your Customer (KYC) regulations. Users will need to upload a copy of a government-issued ID (such as a passport or driver’s license) and a proof of address document (such as a utility bill or bank statement). Once these documents are reviewed and approved, the account is fully activated. Users can then deposit funds into their account using various payment methods and start trading cryptocurrencies on the CoinsBank platform. The entire process is designed to be efficient, typically taking only a few minutes to complete .

Pros

Simplified Registration: CoinsBank offers a straightforward and quick registration process, which is a major plus for new users who may be navigating a cryptocurrency exchange for the first time.
Strong Security Measures: During account setup, CoinsBank emphasizes security, encouraging users to enable two-factor authentication (2FA) right from the start. This focus on security helps protect users’ funds and personal information.
Multiple Deposit Options: The exchange supports various deposit methods, including bank transfers, credit cards, and direct cryptocurrency deposits, making it accessible for users from different financial backgrounds.

Cons

KYC Delays: The Know Your Customer (KYC) process, which is mandatory for trading, can be time-consuming. Delays in verification can frustrate users eager to start trading immediately.
Complexity for Beginners: While the registration itself is straightforward, the overall process from start to finish, including KYC and security setup, might be overwhelming for beginners unfamiliar with such procedures in the crypto space.

Read more about account opening in Coinsbank

CoinsBank provides a comprehensive and user-friendly process for setting up and using an account. Here’s a detailed breakdown of each step:

How to Sign Up on CoinsBank

Visit the Website: Start by navigating to the CoinsBank homepage.
Create an Account: Click on the ‘Sign Up’ button, usually located at the top right corner of the page. Enter your email, choose a password, and provide any other required personal information.
Email Verification: Check your email for a verification link from CoinsBank and click on it to confirm your email address.

Opening An Account

Complete KYC: To fully activate your account, complete the Know Your Customer (KYC) process by submitting the necessary identification documents, such as a passport or driver’s license and a recent utility bill or bank statement for address verification.

How to Buy Your First Cryptocurrency

Deposit Funds: Once your account is verified, deposit funds using one of the supported methods, such as bank transfer, credit card, or cryptocurrency transfer.
Purchase Cryptocurrency: Navigate to the trading interface, select the cryptocurrency you want to buy, and make your purchase. You can choose from various order types like market or limit orders depending on your trading strategy.

Account Types

Select Account Type: CoinsBank may offer different types of accounts, such as basic or premium, each with distinct features and benefits. Choose an account type that best suits your trading needs and financial goals.

How to Use CoinsBank?

Navigating the Platform: Familiarize yourself with the trading dashboard, where you can monitor your portfolio, track market trends, and execute trades.
Utilize Tools: Use tools provided by CoinsBank, like charts and indicators, to analyze market conditions and make informed trading decisions.

Registration and KYC

Maintain Compliance: Always ensure your account information and documentation are up to date to comply with regulatory requirements.

By following these steps, users can effectively navigate their way through the account setup process, purchase their first cryptocurrency, and begin trading on CoinsBank. The platform is designed to be accessible to both beginners and experienced traders, providing a robust set of tools and features to enhance the trading experience.

Security

CoinsBank offers a secure and user-friendly platform for cryptocurrency trading, with robust security measures that make it a reliable choice for users. The platform uses two-factor authentication (2FA) to enhance account security and employs cold storage solutions to protect users’ funds from potential cyber threats. Additionally, CoinsBank’s integration with a range of financial services, including a multi-currency wallet and a prepaid card, allows users to manage and spend their cryptocurrencies efficiently. This combination of features ensures that users can trade and store their digital assets with confidence.

However, CoinsBank does have some limitations. The platform’s availability is restricted in certain countries, which can limit access for some users. Moreover, while CoinsBank provides a comprehensive suite of services, its transaction fees can be relatively high compared to other exchanges, potentially deterring frequent traders. Despite these drawbacks, CoinsBank’s emphasis on security and its range of integrated financial services make it a strong option for those seeking a reliable and versatile platform for managing their cryptocurrency portfolios.

Pros

Robust Authentication Protocols: CoinsBank employs two-factor authentication (2FA) across its platform, which significantly enhances account security by requiring a second form of verification beyond just the password. This is a critical feature in preventing unauthorized access.
SSL Encryption: The use of SSL encryption for all data transmitted between the platform and its users ensures that personal and transaction data are securely encrypted. This helps to protect sensitive information from interception by malicious actors.
Cold Storage of Assets: A large percentage of the funds on CoinsBank are stored in cold storage, which means they are kept offline and away from potential online threats. This method is widely regarded as one of the safest ways to store cryptocurrencies, reducing the risk of hacking and theft.

Cons

Limited Information on Security Protocols: While CoinsBank employs standard security measures, there could be more transparency regarding the specific technologies and protocols they use. More detailed information could help build further trust among users.
Potential for User Error: Despite robust platform security, the safety of funds can still be compromised through user error, such as the mishandling of wallet keys or falling victim to phishing attacks. CoinsBank could enhance user education and resources to help mitigate these risks.

Is CoinsBank Legit?

CoinsBank operates under the regulatory oversight of the International Financial Services Commission (IFSC) of Belize, which provides a level of legitimacy to its operations. Additionally, it is registered with FinCEN MSB in Belize, ensuring compliance with necessary financial service regulations. This legal framework helps establish CoinsBank as a legitimate entity in the realm of cryptocurrency exchanges.

Regulation and Licensing

CoinsBank’s adherence to regulatory guidelines under the IFSC contributes to its credibility as a regulated entity. This compliance is crucial for ensuring operational transparency and user trust, safeguarding participant interests within legal and financial norms.

Is CoinsBank Safe?

Security Measures: CoinsBank utilizes several advanced security measures:

Cold Storage: A significant portion of digital assets is stored in cold storage systems, which are offline and thus less susceptible to hacking or online threats.
SSL Encryption: Ensures that all data transferred between users and the platform is encrypted, protecting sensitive information from interception.
Two-Factor Authentication (2FA): This mandatory feature adds an extra layer of security by requiring a second form of user verification during login and withdrawal attempts.

User Experience with Security: Feedback from users indicates a high level of satisfaction with CoinsBank’s security protocols, although improvements in user interface and additional educational resources on security best practices could further enhance safety perceptions.

Historical Security Incidents

While CoinsBank has maintained a strong security record, like all platforms, it remains potentially vulnerable to sophisticated cyber-attacks. Regular security audits and updates are crucial in maintaining robust defenses against evolving threats.

Why CoinsBank is Considered Secure

CoinsBank’s integration of stringent security practices, regulatory compliance, and proactive measures to safeguard user assets contribute to its reputation as a secure platform. Its commitment to maintaining high security standards helps in fostering a safe trading environment for all users.

Conclusion

Overall, CoinsBank’s comprehensive security measures and regulatory compliance underscore its dedication to providing a secure and reliable trading platform. Users considering CoinsBank should feel reassured by these provisions, although staying informed and cautious is advisable in the dynamic landscape of cryptocurrency trading.

Customer service

CoinsBank provides a versatile and comprehensive platform for cryptocurrency trading, catering to both beginners and seasoned traders. The platform supports a wide range of cryptocurrencies including Bitcoin, Ethereum, and Litecoin, offering users the ability to trade with competitive fees. CoinsBank is particularly known for its user-friendly interface and extensive suite of services, which includes a mobile app, wallet, exchange, and even a card that allows users to spend their cryptocurrencies seamlessly. This integration of services makes it a convenient choice for users who prefer managing their crypto assets within a single ecosystem.

However, CoinsBank does have some drawbacks. One significant limitation is its restricted availability in certain countries, which can limit access for some users. Additionally, while the platform offers a variety of services, the fees for some transactions can be higher compared to other exchanges, particularly for users who engage in frequent trading. Despite these downsides, CoinsBank’s comprehensive service offerings and user-friendly design make it a strong contender for those looking to manage multiple aspects of their cryptocurrency portfolio in one place.

Pros

Multiple Support Channels: CoinsBank provides a variety of customer support channels, including email, live chat, and telephone support, ensuring users can reach out for help through their preferred method. This accessibility enhances the user experience, especially in urgent situations.
Comprehensive Help Center: CoinsBank has a well-organized help center that includes FAQs, user guides, and troubleshooting tips. This resource is invaluable for new users and for resolving common issues without needing to contact customer support directly.
24/7 Availability: The platform offers around-the-clock customer service, which is crucial for a global user base across different time zones. This constant availability ensures that users can get assistance whenever they need it, regardless of the time of day.

Cons

Response Times Can Vary: While generally efficient, response times can vary, especially during peak hours or for more complex issues. This variability can be frustrating for users needing immediate assistance and might impact their trading activities.
Quality of Responses: Some users have reported that while the support team is accessible, the quality of the responses can sometimes be inconsistent. Some support representatives might provide more detailed and helpful guidance than others, leading to a disparity in service quality experienced by users.

Read more about customer service in Coinsbank

CoinsBank provides comprehensive customer service aimed at enhancing user experience and addressing any issues that may arise during their use of the platform. Below is a detailed development of the key aspects of CoinsBank’s customer service:

Customer Support

CoinsBank is committed to providing robust support to ensure its platform runs smoothly for all users. This support includes several layers:

Technical Support: Assistance with any technical issues encountered on the platform.
Account Support: Help with account-related questions, including access issues, KYC verification, and account settings.
Trading Support: Guidance on executing trades, understanding fees, and navigating the trading platform.

Reputation and Customer Feedback

CoinsBank has cultivated a positive reputation in terms of customer support. Feedback from users generally highlights the platform’s responsiveness and helpfulness. However, as with any service, there are occasional criticisms regarding delays or less detailed responses during peak times or for complex queries. Enhancing training for support staff could address these inconsistencies and improve user satisfaction further.

Methods of Contact

CoinsBank offers multiple avenues for users to seek assistance:

Live Chat: Available directly on the website, providing real-time assistance.
Email Support: Users can send detailed queries and expect a comprehensive response.
Telephone Support: For immediate assistance, users can call the support hotline.
Social Media: Queries can also be addressed through CoinsBank’s social media platforms, which are monitored regularly.

Response Time

The response time varies by the method of contact:

Live Chat: Typically, users receive immediate responses, making it the quickest option for support.
Email: Responses can take anywhere from a few hours to a day, depending on the complexity of the issue.
Telephone: Generally provides immediate assistance, though users might face waiting times during busy periods.
Social Media: Response times can vary significantly but are typically within a day.

Additional Support Needs

Users might also benefit from:

Multilingual Support: As CoinsBank serves a global clientele, expanding support to include multiple languages could significantly enhance user experience.
Community Forums: Establishing a user community forum could allow users to help each other and share tips, which might reduce the load on formal support channels.
Detailed Tutorials and Webinars: Offering more comprehensive guides and educational webinars could help users understand the platform’s features better, reducing the need for direct support.

Overall, while CoinsBank’s customer support is robust, focusing on areas like multilingual services, community engagement, and educational resources could further enhance user satisfaction and platform usability.

Is coinsbank Right for You?

1. Trading and Payment Flexibility

CoinsBank is particularly suited for users looking for a platform that integrates traditional banking with modern cryptocurrency transactions. It offers multiple fiat currencies and supports several payment methods including bank transfers and credit cards. This makes it convenient for users who want to easily convert fiat to crypto and vice versa. If you value a platform that facilitates both crypto and fiat transactions with ease, CoinsBank could be a good fit.

2. Security and Regulatory Compliance

Security is a paramount concern for anyone involved in cryptocurrency trading. CoinsBank employs robust security measures such as SSL encryption, two-factor authentication, and cold storage of the majority of digital assets. Additionally, it operates under regulatory oversight from the IFSC of Belize, ensuring compliance with financial regulations. If having a secure and regulated trading environment is important to you, CoinsBank offers a reliable and compliant platform.

3. Fee Structure Consideration

It’s important to consider CoinsBank’s fee structure, which is on the higher side compared to some other exchanges. The platform charges a flat fee for both takers and makers, which might not be the most cost-effective option for traders who execute high volumes of transactions. If you are a high-frequency trader, the fees could diminish your returns. However, if you are more of a casual trader or your trading volume is relatively low, the impact of these fees might be less significant. In summary, CoinsBank could be the right choice if you are looking for a user-friendly platform that offers a range of services including fiat-to-crypto transactions, prioritize security and regulatory compliance, and are comfortable with the fee structure. Consider how these factors align with your trading strategy and financial goals to make an informed decision.

Coinsbank compared to other crypto exchanges

Threenvest score

2,5

Fees

US Legal

–

Security

Low 2/5

Investing risks losing your money

Threenvest score

4,8

Fees

US Legal

Security

High 4,9/5

Investing risks losing your money

Gemini

Threenvest score

4,9

Fees

US Legal

Yes

Security

High 4,9/5

Investing risks losing your money

Available cryptocurrencies and countries available

CoinsBank offers a selection of major cryptocurrencies, supporting trading in four principal cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP). While these cover some of the most popular and widely used digital currencies, it’s important to note that CoinsBank does not currently support other significant cryptocurrencies like Cardano (ADA), Polkadot (DOT), and Binance Coin (BNB).

As for geographic availability, CoinsBank serves a broad international market, but there are restrictions for users from certain countries. Notably, residents of the United States and other countries with strict financial regulations may not be able to open accounts due to local regulatory constraints. This limitation is significant for potential users in these regions who are looking to engage in cryptocurrency trading through CoinsBank. If you reside in a country with stringent financial oversight or known restrictions on cryptocurrency trading, it’s advisable to verify your eligibility directly with CoinsBank or consult their detailed terms of service.

Main cryptocurrencies available

Bitcoin (BTC)
Ethereum (ETH)
Litecoin (LTC)
Ripple (XRP)
Bitcoin Cash (BCH)
EOS (EOS)
Stellar (XLM)
NEO (NEO)
Cardano (ADA)
IOTA (MIOTA)
Monero (XMR)
Dash (DASH)
NEM (XEM)
Zcash (ZEC)
Tezos (XTZ)
TRON (TRX)
Ethereum Classic (ETC)
VeChain (VET)
QTUM (QTUM)
OmiseGO (OMG)

Main countries where you can open an account

United Kingdom
Canada
Australia
Germany
France
Italy
Spain
Netherlands
Sweden
Belgium
Switzerland
Austria
Denmark
Finland
Norway
Portugal
Japan
South Korea
New Zealand
Ireland

FAQs

1. How do I sign up for a CoinsBank account?

To register with CoinsBank, simply visit their website and click the ‘Sign Up’ button. You’ll need to provide your email, create a password, and follow the verification process through a link sent to your email. Completing your profile and passing the KYC verification are necessary steps to activate full trading capabilities.

2. What deposit methods are available on CoinsBank?

CoinsBank offers various deposit methods including bank transfers, credit cards, and direct cryptocurrency transfers. Choose the method that best suits your convenience and geographic location.

3. Can I trade on CoinsBank using my mobile device?

Yes, CoinsBank provides a mobile app available for both iOS and Android devices. The app includes all the functionalities of the desktop platform, allowing you to trade, monitor your account, and manage transactions on the go.

4. What are the trading fees on CoinsBank?

CoinsBank charges a flat trading fee of 0.50% for both takers and makers. This fee is relatively higher compared to the average industry rate, so it’s important to consider how it might affect your trading strategy.

5. Is CoinsBank available in my country?

CoinsBank is accessible in many countries around the world, except for those with strict regulatory restrictions like the USA, China, and a few others due to local laws or international sanctions. Check their official site or contact customer support to confirm availability in your specific location.

6. How secure is trading on CoinsBank?

CoinsBank prioritizes security with SSL encryption, two-factor authentication, and cold storage for the majority of user funds. These measures ensure that your data and assets are protected against unauthorized access and cyber threats.

7. What should I do if I encounter problems with my account?

If you experience any issues with your account, you can reach out to CoinsBank’s customer support through live chat, email, or phone. Their support team is available 24/7 and ready to assist with any questions or concerns you might have.

Final opinion on Coinsbank

At Threenvest, we’ve taken a comprehensive look at CoinsBank, evaluating its features, services, and overall performance in the competitive landscape of cryptocurrency exchanges. CoinsBank stands out for its user-friendly interface, which caters to both novice and experienced traders, and its robust security measures including SSL encryption, two-factor authentication, and the use of cold storage.

These features make it a reliable choice for users prioritizing ease of use and security in their trading experience. Furthermore, the integration of traditional banking methods with innovative blockchain technology provides a seamless bridge between fiat and cryptocurrencies, broadening its appeal.

However, it’s important to note some areas where CoinsBank might fall short compared to other platforms. The trading fees at 0.50% for both takers and makers are significantly higher than the industry average, which could deter high-volume traders looking for more cost-effective trading options. Additionally, the limited selection of cryptocurrencies might not satisfy traders looking for a wider range of investment opportunities. Despite these concerns, CoinsBank offers a solid platform with a strong focus on security and user experience.

For Threenvest users considering CoinsBank, it’s crucial to weigh these strengths and weaknesses against personal trading needs and preferences to make an informed decision.

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

Do not invest unless you are fully prepared to lose the entire amount of your investment. This is a high-risk activity, and you should not rely on any guarantees of protection if something goes wrong.

Alejandro Borja Fuentes

Economist | Cryptocurrency exchange analyst

The author of the review

Alejandro Borja is an accomplished economist with a distinguished career spanning various facets of the financial industry. His academic journey began with a degree in Economics, laying the foundation for his deep understanding of financial markets.

Over the years, Alejandro has honed his skills by working with some of the largest financial media outlets, analyzing and reporting on economic trends and investment opportunities. His expertise in financial analysis has made him a respected voice in the economic community.

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