At all times, it is recommended that careful study is given to the niches that you decide to partake in to prevent the unforeseen – cryptocurrencies are not left out on this advice. We believe that you are interested in up your knowledge of digital assets, understanding how they function, their use cases, and the basis of their development. The blockchain industry is quite revolutionary, it might not be possible to entirely grasp the fundamentals of the concept at one go; this is because the sphere keeps evolving every day.
The constant evolution of the blockchain industry is not only limited to the digital assets themselves; they are just a part of the entire piece. Beyond digital assets, some other tools and spheres require knowledge about how they function. Trading platforms are a very important aspect that active or intending traders should not overlook. It is difficult to track the actual number of crypto exchanges but a recent survey pegged the estimate above five hundred; 259 of these exchanges can be found on Coin Market Cap while the rest are still in development stages.
Crypto exchanges are an indispensable part that primarily facilitates the management and trade of virtual currencies. Most exchanges are centralized and are dedicated to knowing who they are serving through KYC (Know Your Customer) procedures. Other exchanges go the extra mile to offer their users a lot more unique features and this is why we have to examine the Coinsuper exchange which is a renowned exchange widely in use to fulfill the basic needs of a crypto trader.
|Trading Platform||Website, Mobile App|
|Payment Method||Bank Transfer, Credit/Debit cards, Cryptocurrencies|
|Customer Support||Live Support, Email, Twitter, Facebook, WeChat|
What is Coinsuper?
Coinsuper is an exchange that was established in 2017. It facilitates the trade of several virtual assets, provides stable liquidity via integration with popular fiat pairs, and offers quite a secure infrastructure. Coinsuper has its headquarters in the Asian city of Hong Kong where it presides as one of the leading exchanges. The trading platform also prides itself on involving crypto veterans in its day-to-day operations.
For being regarded as a leading crypto exchange in Hong Kong, Coinsuper is doing well. This is because Hong Kong is the birthplace of various exchanges that have made an indelible mark in the crypto world. Some of these exchanges are KuCoin, Binance, Bit-Z as well as a host of others.
Coinsuper has a lot of factors to its advantage and it ensures that investors know about them by describing them on its website. From a myriad of these facts, the attention the platform pays to security towers over all others. The emphasis could be due to the prevalent perpetration of hacks against exchanges that are believed to be lackadaisical with their security features and interface. Coinsuper wants to ensure users that it is capable of protecting investors from prowling hackers by employing state-of-the-art technologies, which we would explore later in this review.
This exchange enjoys partnerships with several global brands. These brands are strategic investors to the trading platform which implies that it can boast robust capital funding and therefore reliable. Equally, several professionals from top-tier brands like UBS, HSBC, Alibaba, Morgan Stanley, Sohu, and Ant Financial are members of its management committee. With so many expert hands on deck, it is safe to say that much is expected of the exchange.
Coinsuper Trading Services
This exchange simply fulfills the need of any regular or advanced crypto trader as it also features a grandly structured trading desk with varying features that incorporates efficiency. With Coinsuper you can buy and sell a wide range of digital products, day trade in several portfolios and observe the price movements of cryptocurrencies.
Just like exchanges Binance and KuCoin, Coinsuper has its native cryptocurrency called the Coinsuper Ecosystem Network (CEN). Interestingly, traders are given incentives with the crypto for trading on the platform.
Analyzing the trading fee pattern of exchange is quite essential as it helps investors make up their minds about using a particular exchange. In reality, a poor charging arrangement especially one that results in high fees often deter investors from proceeding further with the exchange in question.
Worthy of note is that exchanges supposedly have a standard trading fee pattern. However, since most trading platforms are centralized and go out of their way to incorporate other features that do not exist in other exchanges, they are at liberty to determine the structure of their trading charges.
For Coinsuper, a unique initiative is added to its structure that makes it appear competitive. It charges its fees based on the last 30-day trading activity of any user. A user is charged less if he consistently increased his trading volume over 30 days. The trading range is divided into twelve tiers from $50,000 to $30 million and the fees from 0.14% to 0% which is quite on the high side and might be difficult to attain by non-institutional investors.
Trading fees are charged for both makers and takers on the platform. Makers are those that provide liquidity to the exchange by placing orders in the order book while takers ‘take’ the liquidity by matching the maker’s request. Coinsuper charges takers an industry average of 0.20% and makers a discounted 0.14%.
Remarkably, traders can use the native exchange token CEN as payment for trading to run transactions at a discounted rate. The discount on CEN spreads from 50% to 0% in five years. In other words, after five years, you can run transactions with 0% trading charges with CEN.
Withdrawal and Deposit Fees
Coinsuper permits deposits and withdrawals in both fiat and crypto. Depending on the withdrawal channel you use, the trading fee varies. For USD withdrawals the charge is 0.20% for $100,000 and 0.30% when above the maximum withdrawal threshold.
Fees involving cryptocurrency vary as well. Withdrawals in BTC are charged at 0.0005 up to a daily maximum of 20 bitcoins, which is quite acceptable as an industry average.
Coinsuper Trading API
The Application Programming Interface (API) is an indispensable factor in the assessment of an exchange. A well-developed API gives users better leverage to enjoy the platform’s trading, tracking, and managing features.
Coinsuper bases its API in REST, WebSocket, and FIX which is left to the preference of the user. The server is based in Hong King and Coinsuper dedicated a webpage on its website to offer more insights about its API.
Coinsuper Limits and Liquidity
Coinsuper is a very detailed platform when it comes to the liquidation of assets. A user can receive cash withdrawals to their accounts after fulfilling all KYC procedures. The credit or debit card fee is 5% or $10 per transaction while a daily limit is $20,000 and a 31-day limit is $50,000.
The exchange favors USD bank accounts in Hong Kong and does not restrict them to a set limit. Non-Hong Kong accounts must withdraw an amount greater than or equal to $10,000 per order.
It is worthy of note that Coinsuper does not support some countries like the USA, North Korea, Syria, Cuba, and Iran. Users should ensure that they are complying with local laws when interacting with the platform.
Most cryptocurrency trading platforms prefer to offer services under specified portfolios. Some traders, however, would prefer an exchange that provides them access to a multi-functional portfolio. Just a mentioned earlier in this review, Coinsuper supports large volume trades which would be beneficial to retail traders and institutional entities.
A trader can only spot-trade on this particular exchange as no provision is made for margin trading like perpetual futures and derivatives. This situation however does make it less of the desired exchange as it incorporates other functions like offline capital management, SSL encryption, and multi-signature cryptocurrency wallets.
Cryptocurrencies Available at Coinsuper
Trader access to multiple cryptocurrencies within an exchange gives room for choice. This is often what most crypto investors look for in an exchange. Aside from the popular digital assets, the availability of less conventional coins and tokens gives them the leverage to diversify. Exchanges like Binance have hundreds of digital assets listed, however, this is only after they have scrutinized their use cases and consider them safe for investors. Other exchanges like KuCoin are likely to list more new entrants ahead of Binance.
In comparison with other trading platforms, Coinsuper is not especially competitive in its crypto-asset listings. The exchange has about 80 cryptocurrencies currently listed including relevant stablecoins as trading pairs. A trader has access to over 100 trading pairs as well. Some of the listed cryptocurrencies are the primary ones like Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and others like Ripple (XRP), Polygon (MATIC), Coinsuper Ecosystem Network (CEN), Tron (TRX), and the stablecoin Tether (USDT).
It is also possible to apply for a listing of your digital assets directly on the Coinsuper platform. The platform integrated a web form where you can input the details of your digital asset like whitepaper and website to apply for the listing.
Here’s another feature that largely determines how an exchange is rated. Principally, the overall outlook of a trading platform is one of the foremost features a user is attracted to. If the user interface is poor and cringe-looking, the trader might not use it for long before switching to other viable options notwithstanding the privileges of the former.
A well-developed interface in an exchange should avail the trader of all the necessary tools for trading, which includes the buy and sell buttons. It should also incorporate a comfortable trading view with live data indicating asset price movements on the order book. Most exchanges might offer more tools on the interface, however, the choice for usage is best left to the discretion of the user.
The trading view on Coinsuper is sleek and efficient. It features a dark-themed background, well-developed price charts, and the order book to dictate buy and sell orders in the live market. Coinsuper offers two trading strategies called Market with protection and the other just Market. The basic difference between the two is that the market with protections keeps newbie traders from large losses in the crypto space while the other is primarily for experienced traders.
The trading platform also uses the automatic trigger function called the stop-limit function. This function minimizes losses predetermined by a user in the case a trade goes north. The two trigger parameters are the stop-profit and the stop-limit order which are automatically triggered when the predetermined phase is attained.
Not every trader has the availability to trade at all times with a computer. Coinsuper recognizes this and has developed a trading application that is compatible with both Android and iOS devices for the convenience of a user.
How Secure is Coinsuper
The importance of security in an exchange cannot be overemphasized. Virtual assets are money, therefore they require a form of protection. Scammers and hackers are often attracted to exchanges that do not prioritize security and launch well-thought attacks at them, thereby making away with the find of investors. These hacks come in diverse ways like flash lock attacks, identity theft, or even ransomware.
Well, it appears that Coinsuper is up to the task and it does have a lot of programs that aid the facilitation of secure usage. Of course, with a team that is widely versed in technology and finance, it is expected of them to make security a paramount feature, and they do.
Coinsuper’s security feature consists of four parts, which are four-dimensional protection, bank standard encryption, tri-party hosting, and bank storage. It also claims the use of a 24/7 early warning mechanism, multi-layer encryption, offline assets storage, and a responsive security team that detects breaches in time. Coinsuper permits a 2-factor authentication setting and encourages all users to make use of it to safeguard their assets.
Coinsuper has over 150 staff at the service of the users. The private Hong Kong-based firm is well out to ensure that users enjoy the best of its services and this is reflected in the manner it spreads its customer support abroad on several social media platforms. The team is rated fairly well in response speed and the ability to proffer solutions as well.
The exchange developed a section of their site to the answering the FAQ questions that potential or active users are likely to have. One can also access news that applies to the cryptocurrency world and the exchange itself. Coinsuper has live support integrated on its platform that can instantly aid a user to overcome regular challenges.
For more complex situations, Coinsuper provides two active emails for support. Users who have questions that are not on the FAQ can submit a request stating the issue to the platform with just the click of a button. Beyond this, Coinsuper has active social media handles across diverse social media platforms as well as community support on Telegram and Reddit.
Coinsuper designated two active email addresses, one as a customer service email and the other as an operation email. These two perform nearly similar functions, however, the latter deals with issues that pertain to operational errors and malfunctions.
The email feature is the most advised to use if the issue requires the customer details that should be kept private. It is often guaranteed that the team would handle the issue between 24 hours to three business days.
- Social media
The exchange maintains customer support on several social platforms like WeChat, Twitter, Facebook, LinkedIn, Reddit, and Medium. These official accounts can be reached at any time and escalated issues can be faster resolved.
Users can also interact with the platform through their Telegram communities. Here users can engage with staff and users alike. However, it is advised that users keep their details secret and avoid asking sensitive questions to prevent phishing attempts from prowling scammers in these communities.
Coinsuper is a phenomenal platform and is doing quite a lot to develop and grow beyond the shores of Hong Kong. At the moment it is one of the largest exchanges in Hong Kong, boasting more than a million users, with a myriad of investors and partners.
The exchange emphasizes giving users the best support they ever could be by employing experienced hands from world-renowned brands to help sail the ship at Coinsuper. What distinguishes the platform from others is the fact that it offers liquidity to institutional investors and the priority it accords to security.
The exchange is focused on active customer support and safety by running a responsive customer service and protecting customer funds through the protected market feature. Users can earn rewards while trading by using the platform’s native token and as well trade with simple fees across a wide array of currencies and cryptocurrencies. To use the services of this platform, you can decide to sign up on its website or download the mobile application to begin.