Coinone is a South Korean cryptocurrency exchange. It was founded in 2014 and has been growing steadily since. Today, it is one of the most popular exchanges in Korea with a daily trading volume of over $1 billion USD.
The cryptocurrency transaction fees list 2021 is a review of Coinone, the best Korean crypto exchange.
In this Coinone review, we’ll look at the most significant features of the well-known South Korean exchange, including security, user interface, financing choices, and more…
So, without further ado, let’s get started!
What exactly is Coinone?
Coinone Exchange is a South Korean-owned cryptocurrency exchange established in Seoul as Coinone Inc., with the goal of creating a highly transparent blockchain environment, which cryptocurrencies sorely require to flourish.
According to coinmarketcap, Coinone has over fifty confirmed and unverified markets that trade mostly against the KRW (Korean Republic won) and BTC (Bitcoin), with a total market cap of 7,070 BTC and 53,055,569 USD. It boasts an average 24-hour trading volume of 2,060.019 BTC, with over 20 billion won in monthly income and over 600,000 registered users.
Coinone was established in February 2014 by Myunghun Kevin Cha, one of South Korea’s most well-known and internationally recognized white hackers. The goal of Coinone exchange, according to its founders and management, is to lead the new world of finance via blockchain technology by serving as a channel through which blockchain is introduced to the globe.
Coinone Exchange is one of the most well-known cryptocurrency exchanges in South Korea, and it is currently the third-largest cryptocurrency exchange in the country. It offers services to clients in a variety of categories, including Bitcoin, cryptocurrency, FinTech, payments, financial services, customer service, and the internet. Its blockchain and cryptocurrency services include acting as a clearinghouse for international payments and, more importantly, as a cryptocurrency exchange.
Coinone is a cryptocurrency exchange and wallet designed specifically for blockchain and cryptocurrency adopters, traders, and users in the South Korean area. It is not intended for usage by foreign users.
Coinone Indonesia, on the other hand, was established as part of Coinone’s goal to introduce blockchain to the globe, in order to enable the company extend its activities beyond Asia’s boundaries. Although its Malta-based exchange was shut down on September 18, 2018, its South Korean and Indonesia-based exchanges remained operational. The homepage of Coinone Indonesia may be found here.
On September 4, 2018, Coinone acquired a subsidiary, IFunFactory. IFunFactory is a leader in game server technology, offering both a game server engine and a game management platform.
In December 2018, Coinone Inc. released Cross, its first blockchain-powered overseas remittance and payment service, a remittance App that uses Ripple’s xCurrent product to enable quick cross-border payments.
More on Coinone…
Coinone is a cryptocurrency trading platform based in South Korea, where supported digital currencies are traded against the KRW first, then the BTC.
Its primary emphasis is on the South Korean crypto sector, however there are no limitations on foreign users/traders using it. It trades approximately fifty different currencies, but not all of them have a large number of currency pairings, as a consequence of its rigorous listing processes, which are part of its efforts to prevent scam projects from being listed and, as a result, safeguard its customers’ money.
In addition to its stringent listing criteria, Coinone has its own Listing Evaluation Committee, which is chaired by the CEO and pledges to rigorously auditing all listings before they are listed on the exchange.
Coins that are supported by Coinone include:
Bitcoin, Ethereum, Ripples, Bitcoin Cash ABC, EOS, BSV, Vanta, Luna, Litecoin, Cosmos, TRON, Qtum, and more currencies are supported and traded on Coinone.
The Coinone wallet offers clients with wallet facilities and services that allow them to deposit, store, and trade their chosen currencies listed on the exchange.
User-Interface Design for Coinone:
Coinone’s user interface and user experience (UI/UX) are excellent, allowing customers to trade quickly and safely. It also includes the Prochart tool, which traders use to do in-depth currency research throughout their trading sessions.
Methods of funding a Coinone account include:
Coinone’s primary financing method is cryptocurrency deposits, although it also takes fiat deposits through KRW bank wire transfers. Coinone, on the other hand, does not allow credit or debit card deposits, and as a local market crypto exchange, US investors are not authorized to utilize it.
Coinone has been a pioneering company in South Korea’s fast-growing blockchain and crypto industry, being the first crypto exchange to list both Ethereum and IOTA, as well as the first crypto exchange to establish the Research Center, which publishes uncensored and in-depth analysis and reports on cryptocurrency in order to help provide transparency and stability in the market.
Coinone, as an exchange, also offers a very robust and active customer care and response service that helps its registered customers with technical problems and other concerns.
Fees for exchanging Coinones:
Coinone charges a flat 0.10 percent trading cost for both makers and takers in each trade transaction, which is considerably less than the 0.25 percent industry average. It also charges a 0.03 percent trading fee for any currencies posted after March 21, 2019, providing a good incentive for transactions of newly listed coins.
Coinone offers no deposit fees, but a 0.0015 BTC withdrawal charge every 1 BTC withdrawal. This is expensive when compared to other exchanges, but it’s acceptable because of their cheap trading costs, which seem to balance out their total price structure. It charges 0.01 ETH for 1 Ethereum and 0.0005 BCH per 1 Bitcoin Cash ABC withdrawal fee.
Coinone Security & Associates
This Coinone review would be incomplete if it didn’t include a discussion of its security features.
Coinone’s security grade is D+, which is adequate when compared to the industry’s average requirement for security on crypto exchanges, according to the Mozilla Observatory.
Coinone prioritizes the safety of its customers’ funds and is committed to creating the safest possible investing environment for its clients. To guarantee the safety of its customer accounts and money, it has robust security procedures that apply verifiable methods, such as the usage of the two-factor authentication system, multi-signature wallets, and ID verification.
Coinone has been in operation since 2014, and Coinone Indonesia has been operational since August 2018, with no malfunctions or problems relating to the security of customers’ money or account access reported or documented so far.
Certik and Xangle have partnered with Coinone.
Coinone has formed agreements with Certik and Xangle in order to improve its security features. Xangle (mainly a disclosures business) will collaborate with Coinone to provide crypto investors with security and to make projects more transparent.
Certik, on the other side, is a cybersecurity auditing firm that will offer audit information as a defense against code security attacks, as well as code reviews and other cybersecurity services for Coinone projects that have been or will be listed.
Temco and Coinone have formed a partnership.
Coinone has collaborated with other cryptocurrency and FinTech businesses in order to grow its operations, adoption, and income.
Temco, for example, is using Ripple’s worldwide blockchain-powered foreign remittance and payment service app, Cross, to help deliver Temco’s transactions to individual investors. Moneygram has teamed up with Ripple and Coinone to form a tripartite collaboration.
Alternatives to Coinone
This Coinone review also looks at some of the most popular Coinone alternatives.
Bithumb is the most prominent rival among its local alternatives, followed by Korbit, Coinreal, Gopax, and Upbit.
Coinone’s competitors in the worldwide crypto business include Dex-trade, OceanEx, Braziliex, Coinbe, and BirakeNetwork.
Summary of the Coinone Review
Coinone is one of the fastest-growing top exchanges in the worldwide crypto market and a major player in the South Korean crypto business.
Coinone remains one highly recommendable exchange for crypto consumers and dealers in South Korea and beyond Asian borders, thanks to its excellent UI/UX, exceptional security measures, and numerous currencies transacted on its exchange.
To begin, just go to Coinone Korea’s site and register with the exchange using a personal email and strong password, confirm the email and telephone number, and complete the ID verification.
Summary of the Coinone Review
Our Thoughts:
Coinone is one of the most regulated, dependable, and user-friendly cryptocurrency exchanges on the market. Despite the fact that it only supports KRW as a fiat currency, it is still a highly appealing choice for anybody outside of Asia.
- Performance
- Trust
- Reputation of the Team
- Optional Payments
- Fees of Exchange
- Security
- User Interface
Pros
- Strong security measures are available.
- Interface that is simple to use
- Customer assistance is available around the clock.
- Deposits in cash and cryptocurrency are available.
- Trading on margin is possible.
Cons
- Regulated in a haphazard manner
- Deposits are not accepted by credit or debit cards.
- Supports just Korean carriers, i.e. only works in Korea (for the coinone Korea exchange)
Coinone is a cryptocurrency exchange based in South Korea. It was founded in 2013 and has been operating since then. The company has a global presence, being present in over 190 countries. Reference: coinone exchange.
Frequently Asked Questions
Is Coinone safe?
Coinone is a relatively safe exchange. They have a good reputation and are not associated with any scams or hacks, so you should be fine using them.
What is the most accurate crypto exchange?
This is difficult to answer due to the fact that there are so many different types of exchanges. However, I recommend Binance because they have a very large selection of coins and they also offer an excellent referral program.
What is Coinone Co KR?
Coinone is a South Korean cryptocurrency exchange.
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