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Coineal Review – Is Coineal Scam or Legit?

Coineal Exchange Rating
Conclusion
Read our Coineal review and learn why we recommend this exchange for online trading and why it is not a scam, learn all you need to know in this Coineal review before you sign up with the exchange.
Account Types
9.1
Trading Speed
9.3
Customer Service
9.3
Safety
9.7
9.4

Coineal Review

Coineal logo

The financial market seems to be booming and the spotlight is centered on the cryptocurrency market. The cryptocurrency market has now become one of the trending topics in the financial industry because of the vast investment opportunities it possesses coupled with huge potential gains.

However, that has not always been the story as Bitcoin and the cryptocurrency market at large faced lots of opposition due to its decentralized nature and high volatility. Many critics claimed Bitcoin to be a bubble waiting to explode in the face of investors who dared to invest in the cryptocurrency market. 

A lot of events have happened since then and the cryptocurrency market continues to pass the test of time. Today, investors now seem to consider investments in the cryptocurrency market as one of the best in the financial market. As a result more people now look to join the bandwagon to take advantage of the opportunities that present themselves in the cryptocurrency market. 

As mentioned easier, even with the vast opportunities that are present in the cryptocurrency market, its high volatility has always been a major concern because if traders are not careful enough, they can easily lose as much as they could gain. This is why we recommend that a basic insight into the dynamics of the cryptocurrency market should be learned before making any move to invest.

As a new investor looking to kick off his/her trading journey in the cryptocurrency market, the first and fundamental step to take is to register with a  crypto exchange platform. A crypto exchange platform is a digital marketplace where investors can buy and sell various digital coins using fiat currencies. The crypto exchange platform is a gateway into the crypto market and without them, investors can’t have access to trade various digital coins. For this reason, it then becomes necessary for investors and traders to choose an exchange platform in the crypto market. It would not be surprising if you think choosing an exchange platform is a straightforward process however that isn’t the case.

The success of the cryptocurrency market has seen a lot of exchange platforms spring up which has ultimately oversaturated the crypto market. Scams and fraudulent exchange platforms have then infiltrated the crypto market disguising themselves as legitimate ones and then look to prey on unsuspecting investors. This has made it quite difficult for investors to choose a decent exchange platform in the crypto market.

However, with diligent research into the services and primary features of various crypto exchange platforms in the market, you should be able to identify decent exchange platforms from scams. We understand that carrying out these researches can be sometimes frustrating and intimidating and that is why we’ve taken it upon ourselves to make reviews and carry out research on decent crypto exchange platforms in the industry so that you are only left with the luxury of just making a choice.

This is the Coineal review. The Coineal exchange platform is one of the decent crypto exchanges investors acknowledge to provide outstanding and incredible trading features to its clients. We’ll be discussing in-depth its overall workings, attributes, and services that make it an outstanding crypto exchange platform.

Exchange PlatformCoineal
Websitehttps://www.coineal.com
Commission0.20%
Trading assetsEthereum, Chainlink, Bitcoin, Litecoin, and so on
Payment methodBank Wire Transfer
Trading platformWeb-based platform
SecurityKnow Your Customer (KYC), Anti-Money Laundering (AML) policies, DDoS Attack Protection System Support, Multiple Signature Cold Wallet, and Distributed Architecture.

The Coineal cryptocurrency exchange platform was founded in April 2018 having offices set up in Japan and South Korea. The exchange platform is recognized as one of the top global digital exchange platforms in the world. And while operating at the global level, Coineal also puts the same amount of effort into the localization and has several branches located in Vietnam, Korea, Russia, and so on.

Coineal website

The Coineal exchange platform works round the clock to ensure that customer satisfaction is at an optimal level by putting in place a customer-oriented strategy in marketing, operations, and product design. Presently Coineal is always ranked among the leading crypto exchange platforms on Coinhills, CoinMarketCap, and CoinGecko.

Constantly seeking to offer its clients a professional, safe and conducive trading atmosphere to exchange various crypto assets, the Coineal exchange platform has attained a great reputation across the globe. Furthermore, Coineal has extended its network of services to numerous countries all over the world. The exchange platform currently serves more than 7 million clients in over 130 countries having a daily transaction volume of over $500 million. 

The Coineal exchange platform has a lot in store for its clients and intending traders and we’ll be discussing some of these features that make it quite a unique exchange platform. Let’s get at it

Security Protocol

Security remains one of the biggest concerns of the cryptocurrency market. Financial fraud, money laundering, cyberattacks, and identity theft have become so rampant causing investors to worry about their investments. As a result, investors are not willing to compromise security for whatever reason and are more security conscious and responsible for their safety.

Many cryptocurrency exchange platforms have not been able to meet up with the standard security measures that are capable enough to safeguard and secure personal sensitive information and investments of investors against cyberattacks and hacks. But that’s not the case with the Coineal exchange platform. 

To provide adequate security measures and guarantee the safety of clients’ investments, the Coineal exchange platform puts in place measures such as DDoS Attack Protection System Support, Multiple Signature Cold Wallet and Distributed Architecture. The exchange platform also actively complies with the Know Your Customer (KYC) and Anti-Money Laundering (AML) policies.

Multiple Signature Cold Wallet

Coineal makes use of both hot and cold wallets to store and safeguard clients’ digital assets. Only about 2% of the total digital assets are kept in hot wallets and made available on the platform for the running of clients’ daily trading activities. The remaining 98% of the digital assets are stored in cold wallets in an offline location.

The Coineal exchange platform keeps its cold wallets in an offline location making sure it is safe and adequately protected. Only appointed top officials have the authority to manually access the cold wallets whenever needed. More stringent protocols are still further put in place to ensure the safety of clients’ digital assets.

DDoS Attack Protection System Support

The Coineal exchange platform makes use of the DDoS protection system to protect its website and trading platform from being hacked offline by DDoS attacks. By making use of a hardware-based protection system, Coineal can respond to incidents and monitor traffic by deflecting their traffic via a mitigation system.

Furthermore, the DDoS protection system helps to make sure websites and mobile apps are all up and running, ensuring all features and benefits of the Coineal exchange platform are well available to its clients all over the globe.

Distributed Architecture

Coineal also makes use of the Distributed Architecture ensuring all components of the exchange platform can easily communicate with one another such that when a malicious attack knocks the system, it is easily detected and immediately starved off.

KYC and AML Policy

The Coineal exchange platform complies with the Know Your Customer (KYC) and Anti-Money Laundering (AML) policies to prevent various fraudulent activities such as identity theft, terrorist funding, money laundering, and so on.

As regarding these policies, Coineal is mandated to collect the identity information of its clients to link each trading account to a face. Clients are expected to submit proof of ID, a valid photo, and contact information upon registration.

Liquidity

A closer look at the liquidity of the Coineal exchange platform suggests that lots of trading activities take place on the exchange platform because the liquidity is quite incredible.

Looking at the data, on the 18th of December 2018, Coineal recorded a daily trading volume of approximately $122 million. This feat saw Coineal hold the 25th position on the Coinmarketcap’s list of the top exchange platforms according to daily trading volume.

However, on the 21st of March 2020, in the middle of the Covid-19 crisis, the Coineal exchange platform recorded a daily trading volume of about $3.02 billion which is about 30 times more than its trading volume in the year 2018. This daily trading volume then pushed Coineal to the 9th position on the Coinmarketcap’s list of the top exchange platforms according to daily trading volume.

With high liquidity, investors are more assured of making more profit on the exchange platform since high liquidity suggests more money is being traded on the exchange platform.

Fees and Commission

It is natural for an exchange platform to charge investors fees and commissions on various trading activities. However, investors do appreciate exchanges whose fees and commissions are not on the high side. Hence, investors will always opt to sign up with exchanges with relatively low fees to make more profits in the long run.

Generally, crypto exchange platforms charge these fees so they can also make their own profit in the cryptocurrency market while also financing their daily expenses to keep the entire system running. Ideally, the commission charged is grouped into two; the trading fee and withdrawal fee and this goes the same for the Coineal exchange platform.

Coineal in looking out for its clients charge commissions that are a little bit lower than the industry’s global average so they can amass more profit in the long run.

Trading Fees

The trading fee is charged on every trade executed by an investor in the crypto market. Generally, the trading fee is divided into taker’s fee and maker’s fee and can either be charged at a flat rate, or each of them having a different price

A taker is an individual that takes an order off the order book while a maker places an order in the same order book. When it comes to the Coineal exchange platform, the taker’s fee and marker’s fee are charged at a flat rate. This implies that the

Coineal exchange platform charges 0.20% for both taker’s fee and marker’s fee.

A fee of 0.20% is quite reasonable for a trading fee; it is not too high and not too low either. And putting into consideration the industry’s global average of 0.25% Coineal is doing great. However, new exchange platforms emerging in the market now charge trading fees as low as 0.15% and 0.10%.

Withdrawal fees

Apart from trading fees, exchanges further charge commissions on every withdrawal made. The withdrawal fee charged can either be in percentage, fixed, or a combination of both depending on the exchange platform in question.

Luckily for investors, the Coineal exchange platform does not charge withdrawal fees however, network fees that apply upon withdrawal of crypto assets are expected to be paid by investors. This is quite competitive in the crypto market as the average withdrawal fees charged in the industry are about 0.0006BTC on every withdrawal.

Listing

After in-depth research, we discovered that the Coineal exchange platform offers both the token listing and self-listing service most especially for projects of high quality. However, the exchange platform holds the right to withdraw a token based on specific circumstances and conditions.

For instance, when the committee of a particular project asks to be delisted or run into huge technical or legal circumstances.  Coineal will also withdraw a token when the daily trading volume declines below 100 thousand dollars for 2 consecutive weeks. The exchange platform may also withdraw a token if they find out that a project is dishonest or fraudulent on a big scale. In general, Coineal will withdraw any token if any evidence suggests that such token is not adequate for trading.

In the case where a token is withdrawn or delisted, a notification will be sent to clients 5 days before the token is withdrawn. Clients will also have about one month to withdraw the related token from their trading account.

Trading Platform

Every crypto exchange platform develops a customized trading platform for its clients to carry out various trading activities such as trade execution, market analysis, monitoring of trades, and so on in the crypto market.

As a result of this, trading platforms differ from one another usually in terms of user interface adopted, ease of use, navigation, customization, and lots more. Therefore investors do consider if a trading platform offered by an exchange suits their trading style and trading experience before opting for it.

However, even with these differences, it is expected that a decent trading platform should have a user-friendly interface, smooth and easy navigation, and should be able to offer an incredible trading experience to users. This is exactly what Coineal offers its clients.

The Coineal exchange platform offers a trading platform that gives its clients an incredible trading experience. The entire trading platform is always up and running, easy to navigate, and very user-friendly.  The trading platform comes with sell and buy-boxes, price charts of different digital assets, an order book, among so many others.

Withdrawal and Deposit

Trading in the cryptocurrency market requires an initial deposit of funds to be made before any trading activities can commence. Without this deposit, no exchange platform will give investors access to the cryptocurrency market. Investors, on the other hand, are also concerned about the withdrawal of their accumulated profits which they expect to be simple and straightforward because that’s the whole idea of why they are investing in the crypto market; to make profits.

Hence, exchange platforms make available different kinds of payment method options for both withdrawal and deposit of funds. The Coineal exchange platform makes use of cryptocurrency as the only method of withdrawal and deposit which is quite limiting.

Coineal using the only cryptocurrency implies that deposits and withdrawals can be done using fiat currency which isn’t flexible enough most especially for newbie investors. A new investor looking to make Coineal a trading partner will then have to make use of an entry-level exchange (which accepts deposits of fiat currency) then transfer the digital coin purchased into his/her coineal trading account.

Customer Support

The customer support offered by an exchange platform is an indication of how customer-oriented an exchange is. In general, investors must look to choose an exchange platform that is ready to walk a mile to provide all the necessary support they need in the course of their trading journey.

 The Coineal exchange platform is highly customer-oriented offering adequate customer support 24 hours a day and 7 days a week to its clients across the globe. Coineal ensures that its clients can get across to support agents easily by making available several support channels such as emails, telephone, and various social media channels like Facebook, Twitter, Medium, and LinkedIn.

Final Thoughts

This review has shown that the Coineal exchange platform is an incredible one, offering investors the necessary support, features, and services needed to excel in the cryptocurrency market. If what you’re looking for is a reliable and decent crypto exchange, Coineal is one of the great options out there.

Coineal Exchange Rating
Conclusion
Read our Coineal review and learn why we recommend this exchange for online trading and why it is not a scam, learn all you need to know in this Coineal review before you sign up with the exchange.
Account Types
9.1
Trading Speed
9.3
Customer Service
9.3
Safety
9.7
9.4

Tokenhell produces content exposure for over 5,000 crypto companies and you can be one of them too! Contact at info@tokenhell.com if you have any questions. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by Tokenhell authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content or banners (ad space) posted on the site. Read full terms and conditions / disclaimer.

Adebayo Owotunse (Nigeria)

Adebayo Owotunse is a versatile writer who has written hundreds of crypto articles for dozens of agencies across the years. He is now also the newest addition to the Tokenhell writers team.

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