Coinone Cryptocurrency Exchange Review : Pros & Cons

About Coinone

Coinone is a South Korean crypto exchange registered as Coinone Inc. The project was created with a focus on clients from Asian territories. It offers trading of digital assets, providing a wide range of tokens and trading pairs. Coinone is an official virtual asset operator, providing blockchain-based financial and basic services such as virtual asset management and transaction matching engine, centered on Coinone, the leading professional virtual asset exchange in Korea.

Coinone Cryptocurrency Plus is a platform that allows users to generate reward revenue by utilizing virtual assets held by Coinone. It is a service that indirectly participates in blockchain business operations by entrusting the virtual assets held by Coinone members to Coinone Plus, and returns compensation transparently and fairly.

Information Table

How To Register At Coinone Exchange ?

To register on Coinone, click Register Now button at the top of the page. You can also start creating an account directly through the form on the main page.

You only need to enter your e-mail and come up with a password. If there is a referral code, it is also entered at this stage. Password requirements: at least 8 characters, numbers, upper and lower case.

Click ” Create Account ” then go to your email to verify it. Enter the code you received and registration is complete. You can start replenishing your account.

How To Verify Your Coinone Cryptocurrency Account ?

There is no mandatory verification at Coinone, but you can pass it if you wish. At the moment, the only restriction imposed on unverified users is the withdrawal limit of 1 ALPHA. In the future, depending on the actions of regulatory authorities, conditions may change.

For verification, you can use one of four documents to choose from: passport, driver’s license, identity card or residence permit. Artificial intelligence is used to evaluate the authenticity of documents. This service is provided by the Onfido online identification service, already used by the Coinone, Revolut platforms.

How To Buy Crypto Or Deposit Crypto At Coinone Crypto Exchange ?

There are two main options for topping up your balance on Kraken. Firstly, you can buy cryptocurrency with a bank card – it’s fast and convenient. Go to the ” Buy crypto ” -> ” Buy crypto with a credit card ” section.

Choose a cryptocurrency (currently there are 13 coins available for purchase in this way). Enter the amount and select the fiat currency to be used for payment.

After that, you will need to select a payment channel: each of them has conditions. You can choose between Simplex, Mercuryo, Banxa and Moonpay. Click ” Buy ” next to the appropriate option.

Agree to the terms and confirm the transition to the site of the payment provider. Enter information about the card and its owner, confirm the transaction. Cryptocurrency will be credited to the exchange account within a few minutes.

Second Method

You can transfer digital assets to the balance of the exchange from any external crypto wallet. For this:

• Go to the “Deposit” section from the “Assets” menu.

• From the drop-down list, you can select the cryptocurrency you want to deposit into your account.
• The wallet address will appear. You need to copy it and send funds to it from another wallet or exchange. Please note that only bitcoin can be sent to bitcoin addresses, similarly with other coins.
• You can also click “Show QR code” – for transfers from a mobile wallet, this is a more convenient option.

How To Withdraw Crypto Asset From Coinone Exchange ?

Having completed all the necessary trading operations, it’s time to withdraw the received assets to an external wallet. Go to ” Assets ” -> ” Withdraw “. Please note that the operation is only available after enabling two-factor authentication in the settings. This is for added security and requires less than a minute, so don’t neglect this measure.

Select a cryptocurrency and enter the withdrawal amount. Each coin has its own withdrawal fee, for example, for BTC it is 0.00057 BTC. Click ” Output “. By default, the exchange processes applications three times a day, however, hourly withdrawals are available for Premium users. Also, the time of receipt of the cryptocurrency is affected by the workload of the blockchain network.

How To Secure Your Coinone Account ?

Also remember to go to the Security tab and activate two-factor authentication using the Google Authenticator app – this is the most reliable way to prevent unauthorized access to your account.

Coinone Fees

The Korean exchange offers a flat fee of 0.2% for the main market. Coinone has both Maker fees and Taker fees. For makers, those are 0-0.1%, and they can also get lower. Meanwhile, for takers it’s 0.02-0.1%. Coinone also has a withdrawal fee of 0.0015 BTC. Withdrawals in fiat currency are charged a 1000 KRW fee. No deposit fees.

Deposit and withdrawal limit

Withdrawal delay system information

• Deposits and withdrawals in KRW can be used after verifying the bank account. After bank account authentication, the daily virtual asset withdrawal limit is adjusted to prevent financial accidents.
• The application period for the KRW withdrawal limit and the combined virtual asset withdrawal limit is based on one day and is reset at 00:00 Korean time the next day.
• To prevent financial accidents, the deposited KRW amount is deducted from the virtual asset withdrawal amount for 24 hours.
• It will be converted to Kakao Bank, and the withdrawal limit may change for existing users. 

Deposit and Withdrawal Fees

Leverage or Margin Trading on Coinone

Following the accusations of providing gambling services fron the Korean authorities, in 2017 margin trading was removed from the platform. Currently, the leverage is available for margin trading, users have the ability to trade with leverage up to 1:4.

Features Of Coinone Crypto Exchange

Available At Android & IOS Store

Coincheck Cryptocurrency Exchange exchange application available on both world famous mobile store google play store and iOS store . You Can download App and start trading.

Multiple cryptocurrencies

Coincheck supports multiple cryptocurrencies such as Bitcoin, Ethereum, Litecoin, NEM, and more.

Easy to use interface

Coincheck has a user-friendly interface that makes it easy for users to buy, sell, and trade cryptocurrencies.

Mobile App

Coincheck has a mobile app that allows users to access their accounts and trade cryptocurrencies on-the-go.

Security

Coincheck uses high-level security measures such as two-factor authentication and cold storage to ensure the safety of users’ funds.

Customer support

Coincheck provides 24/7 customer support in Japanese and English to assist users with any issues they may encounter.

Competitive fees

Coincheck offers competitive trading fees and charges a flat fee for withdrawals.

Fast deposits and withdrawals

Coincheck processes deposits and withdrawals quickly, allowing users to access their funds in a timely manner.

24/7 Live Chat

If you’re awake, they are too. When you need help, your team of experts will work with you via 24/7 live chat to reach a quick and efficient resolution.

Coinone Conclusion

Coinone is a South Korean cryptocurrency exchange that provides users with a secure and easy-to-use platform for buying, selling, and trading cryptocurrencies. The exchange supports a range of popular cryptocurrencies, such as Bitcoin, Ethereum, Ripple, and more. It has a user-friendly interface and offers fast deposits and withdrawals. Additionally, Coinone implements strict security measures, such as two-factor authentication and cold storage, to ensure the safety of users’ funds. Overall, Coinone is a reliable and trustworthy option for those looking to buy, sell, or trade cryptocurrencies in South Korea.