CoinsBank

CoinsBank Review

What is CoinsBank?

CoinsBank is a cryptocurrency exchange registered in Belize. It has been active since 2016.

Supported Cryptos

CoinsBank only supports trading of four cryptocurrencies: Bitcoin, Ethereum, Litecoin and Ripple. If you’re looking to trade any other altcoin you will need to find another trading platform. Use our Exchange Finder to find the best cryptocurrency exchange site for you.

CoinsBank Advantages

CoinsBank promotes a few features of its platform on its website. They inform that the platform is licensed, that it is user friendly and that they have advanced trading options (such as stop-loss and take-profit orders). Moreover, they highlight that no KYC is needed in order to start trading at the platform.

US-investors

The exchange does not list US-investors as prohibited from trading. However, as always, US-investors should do their own independent assessment of any problems arising from their residency or citizenship.

CoinsBank Trading View

Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you. The below is a picture of the trading view at CoinsBank:

CoinsBank Fees

CoinsBank’s fees consist of deposit fees, trading fees and withdrawal fees.

Deposit fees vary dependent upon how you deposit.

Trading fees are 0.50% flat, meaning that takers and makers both pay 0.50% of the total order value of the trade as a fee to CoinsBank.

Withdrawal fees are fixed at 0.005 BTC for BTC-withdrawals.

More on these fees below.

CoinsBank Trading fees

The most important lesson to learn when it comes to picking the best cryptocurrency exchange site is that you must always check the fees. Every trade occurs between two parties: the maker, whose order exists on the order book prior to the trade, and the taker, who places the order that matches (or “takes”) the maker’s order.

This exchange’s trading fees for takers are 0.50%. This fee is above the industry average. The industry average is arguably around 0.25%.

The exchange does however charge a lower fee for makers, sitting at 0.20%.

CoinsBank Withdrawal fees

The exchange charges a withdrawal fee amounting to 0.005 BTC when you withdraw BTC. This is lower than average in the industry.

To conclude this chapter of the review on fees, CoinsBank’s fees correspond to industry averages (with the possible exception of the somewhat higher trading fees).

Deposit Methods

At CoinsBank, you can deposit through both wire transfer and credit cards. This can be helpful especially for newer crypto investors.