Coinmerce review, the place for crypto trading, staking and earning.
Coinmerce was founded in 2017 by a small team in the Netherlands. This relatively unknown crypto broker is making great strides and values integrity, accessibility and innovation. In this Coinmerce review, we will delve deeper into the security, possibilities and user-friendliness of the platform. And we will look at the fees that you pay as a user. Read on quickly, or create an account with Coinmerce right away.
What is Coinmerce?
Coinmerce is a Dutch crypto broker that focuses on the European market. The company focuses on security and innovation and thus targets both the novice and mature crypto investor. Coinmerce distinguishes itself from other crypto brokers in terms of supply. In addition to buying and selling crypto, Coinmerce also offers the possibility to earn a passive income with crypto. This can be done via crypto staking or crypto earn. The supply of crypto staking or crypto earn coins is large and the rewards that you receive as a user are higher than with other crypto brokers.
You can also use the Coinmerce coin on the platform. We will come back to its use later in this review.
Coinmerce review
As mentioned, Coinmerce is still a relatively unknown player in the market. The platform mainly tries to distinguish itself in services that other players are less strong in. In this case, these are crypto staking and crypto earn. With crypto staking, your deposited crypto is used to validate transactions on the blockchain. As a reward for this, you receive interest in the form of crypto. With crypto earn, you lend crypto to the relevant platform for a certain period. With this concept, you also receive interest in the form of crypto. Coinmerce distinguishes itself from other parties by offering a wide range of crypto staking and crypto earn coins. In addition, the rewards that Coinmerce gives you as a user are also higher than with other providers.
But it is of course important to look beyond crypto earn and crypto staking. After all, a good crypto broker not only has a wide range, but also a secure platform that is easy to use. At the moment, users are not necessarily very enthusiastic about the Coinmerce app. We see a rating of only 2.6 stars in the Playstore and on Trustpilot, Coinmerce gets 4.2 out of 5 stars. The ratings therefore vary greatly. Although it must be said that not too much value should be attached to this, since the number of reviews is still very low.
In order to sketch as complete a picture of Coinmerce as possible, we will delve deeper into the following components in this Coinmerce review:
- Coinmerce security
- Coinmerce fees
- Use of the Coinmerce coin
- Coinmerce wallet security
- User-friendliness of the platform
- Coinmerce customer service
Veiligheid Coinmerce
Investing and actively trading in crypto is best done in a safe way. It is therefore important that a broker or an exchange offers you as a user various options to keep your account as safe as possible. Fortunately, Coinmerce offers its users various options that absolutely contribute to the security of your account. We would like to explain these in more detail.
Use of two-factor authentication
Ultimately, you do not want anyone other than yourself to have access to your account. In practice, it can happen that your login details fall into the hands of third parties. This can happen when you become a victim of fraud, or due to a data leak at an organization that has your login details. As an extra incentive, Coinmerce offers its users two-factor authentication. This means that in addition to your e-mail address and password, an additional code is also required to access your account. This access code can be sent to your e-mail or to your smartphone. In this way, you ensure that access to your account is not possible for anyone other than yourself.
Furthermore, Coinmerce has a license from the Dutch bank, which shows that the company has taken various measures to prevent crime on the platform. In addition, the company carries out a range of preventive measures behind the scenes to ensure the safety of the platform.
Coinmerce review – Safety: 4/5
Coinmerce fees
One of the most important parts when you are going to buy or trade crypto are the costs involved. After all, you buy or trade crypto to ultimately earn something with it. A crypto broker or a crypto exchange can charge two different types of fees. Namely the transaction fee and the trading fee. Both are important, but it makes quite a difference whether you want to buy or sell crypto occasionally, or whether you want to actively trade crypto on the platform.
Coinmerce transaction fees
At Coinmerce you can deposit euros via the well-known payment methods such as iDEAL, SEPA, Giropay, Bancontact and Sofort. The most advantageous option is to deposit money via SEPA. In other words, a bank transfer. But iDEAL is also an advantageous option. You only pay 0.30 euros per transaction.
Coinmerce trading fees
We are a little less enthusiastic about the trading fees at Coinmerce. You pay trading fees when you buy or sell crypto on the platform. The trading fees usually vary between 0.4% and 2.5%, and depend on the current volume of the coin in question. And with an offer of 180 different cryptocurrencies, these costs can vary greatly over time. In addition to the fact that these trading fees are a lot higher than other providers in the market, it is not very transparent. Ultimately, as a trader you always see what you pay in fees, but this is difficult to anticipate in advance.
Crypto staking & crypto earn
In addition to paying fees to buy or trade crypto, you can also earn a passive income at Coinmerce. You do this by using crypto staking or crypto earn. The rewards you receive for this are usually higher than with other providers in the market.
Coinmerce review – Fees: 3/5
Using the Coinmerce coin
Coinmerce coins are Coinmerce’s own payment method. You use them to make your transactions cheaper and to shorten the buying or selling process. A Coinmerce coin always has a value equal to 1 euro. You use them to buy other crypto on the platform. Or you can have your Coinmerce coins paid out after which they will be deposited into your bank account.
Coinmerce wallet security
You can store your purchased crypto or your Coinmerce coins in the online wallet of Coinmerce. This is basically safe. As mentioned, Coinmerce takes various initiatives behind the scenes to keep the use of your Coinmerce wallet safe. In addition, you have the option to secure your account extra via two-factor authentication.
Valuation of the Coinmerce platform
Although the Coinmerce platform is safe and easy to use, it offers a lot less options than other crypto exchanges. Several options that traders frequently use, such as stop-loss orders and trend charts, are not yet available. On the other hand, the range of crypto staking and crypto earn options is a lot larger compared to other providers in the market. In addition, you can use 3 different trading bots on the platform. This is also a feature that you usually do not encounter on other platforms.
Coinmerce review customer service
The Coinmerce customer service is available on workdays from 09:00 to 17:00. You can also use the chatbot on the website or contact the support department by e-mail. In addition, there is an extensive section on the website where you can find the answers to the most frequently asked questions. Another plus is the knowledge base on the website, if you need additional explanation about a specific topic.
Coinmerce review – Customer service: 4/5
Coinmerce review final verdict
All in all, Coinmerce is a great platform for the novice crypto investor. The crypto staking and crypto earn options in particular are plus points. On the other hand, the options for the experienced crypto trader are somewhat limited, and the trading fees are relatively high.
Coinmerce rating: 4/5
