Cryptocurrency Exchange

Coinone Exchange Review

Overview

Legal NameCoinone Exchange
HeadquartersSeoul, South Korea
CEOCha Myung Hun
Year Founded2014
Exchange TypeCentralized
Trading FeesMaker: 0.10%/ Taker: 0.10%
Deposit MethodsWire Transfer and Cryptocurrency
Supported CryptosBitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Ripple (XRP), and Qtum (QTUM)
FiatSouth Korean Won (KRW)
Customer ServiceEmail, Phone
Trading OptionsSpot Trading

There are a large number of crypto exchanges which have evolved in recent times which differ from each other in their features, fees, trading and other prospective.

In the fast-growing blockchain and crypto industry in South Korea, Coinone has been one of the pioneering exchanges which has widely grown into popularity.

In this article, we will provide you with the complete guide on the Coinone exchange and look into its aspects such as its features, fees, pros and cons and much more. Let us look into detail in this Coinone exchange review now,

What is Coinone?

Coinone Exchange is a South Korean cryptocurrency exchange which is registered in Seoul as Coinone Inc. Coinone was founded by Myunghun Kevin Cha in February 2014. Currently, KRW (South Korean Won) is the only fiat currency that can be stored and exchanged on the cryptocurrency exchange.

Coinone is currently the second-largest cryptocurrency exchange located in South Korea, behind Bithumb alone. Coinone ranks in the top 10 cryptocurrency exchanges worldwide in terms of the trade volume.

Coinone Features

  1. User Interface: Coinone has an excellent interface which enables efficient trading for their clients. It also has the Prochart tool, which is used by the traders for an in-depth analysis of currencies during their trade sessions.
  2. Coinone wallet: The Coinone wallet provides wallet facilities and services to enable client deposits, storage, and trading of their desired coins that are listed on the exchange.
  3. Payment Method: The major payment method for Coinone exchange is crypto deposits, but it also accepts fiat deposits through bank wire transfers in KRW. However, it does not accept deposits through credit and debit card payments
  4. Security: It employs robust mechanisms, including the use of a two-factor authentication scheme, multi-signature wallets and ID verification to ensure the security of its client accounts and assets.
  5.  Customer Support: Coinone’s support team can be reached by email anytime or phone. Coinone has a specific support forum for resolving issues that are not correctly reflected in a user’s balance

Coinone Fees and Limits

The Coinone exchange has a flat trading fee of 0.10% for both makers and takers in any trade transaction. This is slightly lower than the global industry average of 0.25% in comparison.

Coinone has no deposit fees but has a withdrawal fee of 0.0015 BTC per 1 BTC withdrawal. This is high when compared to that of other exchanges. It has a withdrawal fee of 0.01 ETH per 1 Ethereum and 0.0005 BCH per 1 BitcoinCash.

There is currently a withdrawal limit on accounts of 100 million KRW and a transactional limit of 20 million KRW.

Coinone Supported Currencies

The Coinone exchange supports the following cryptocurrencies:

  • Ethereum
  • Ethereum Classic
  • Bitcoin
  • Bitcoin Cash
  • Ripple
  • Qtum
  • Litecoin

The only fiat currency that can be deposited and traded on the exchange is KRW (South Korean Won).

Coinone Mobile App

The Coinone exchange supports both iOS and Android platforms. The website is also designed efficiently for a mobile view. Traders can conveniently access the exchange using their smartphones.

How to register on Coinone?

  1. Step 1:

    To create an account, Navigate to the Official website and click on “Register” found on the upper right-hand side of the website.

  2. Step 2:

    Now enter your active email address, and choose a strong password for your new account.

  3. Step 3:

    Complete the CAPTCHA game and then click on ‘Register’.

  4. Step 4:

    You will get a confirmation link sent to your email.

  5. Step 5:

    Just click on that and you will be redirected to the website again.

  6. Step 6:

    Now complete the security verification to complete the registration.

How to recover the Coinone password?

Click the login button at the top of the homepage and click “Forgot Password” Option. Enter the registered email address. You will get a link to the registered email. Log in with the registered email and you can generate a new password

How to deposit on Coinone?

  1. Step 1:

    Login to your account. Then go to the ‘Assets’ Page.

  2. Step 2:

    Now click ‘Deposit/Withdrawal’ Option.

  3. Step 3:

    Select ‘Won (KRW)’ from the coin list. Then select ‘Deposit’

  4. Step 4:

    Enter the desired deposit amount and select the ‘Next’ button.

How to withdraw on Coinone? 

  1. Step 1:

    Login to your account. Then go to the ‘Assets’ Page.

  2. Step 2:

    Now click ‘Deposit/Withdrawal’ Option.

  3. Step 3:

    Select ‘Won (KRW)’ from the coin list. Then select ‘Withdraw’.

  4. Step 4:

    Enter the desired withdrawal amount and select the ‘Next’ button.

How to buy cryptocurrencies on Coinone?

  1. Step 1:

    Login to your account and go to the Exchange page

  2. Step 2:

    Here you can place an order by clicking the ‘Buy’ Option.

  3. Step 3:

    Now, The Coinone order tab displays the status of the amount of KRW and cryptocurrency that can be bought.

  4. Step 4:

    Check out the details once again and then submit the order.

  5. Step 5:

     The transaction details can be searched found in Assets>Transaction Records
    buy-cryptocurrencies-Coinone

How to sell cryptocurrencies on Coinone?

  1. Step 1:

    Login to your account and go to the Exchange page

  2. Step 2:

    Here you can place an order by clicking the ‘Sell’ Option.

  3. Step 3:

    Now, The Coinone order tab displays the status of the amount of KRW and cryptocurrency that can be sold.

  4. Step 4:

    Check out the details once again and then submit the order.

  5. Step 5:

    The transaction details can be searched found in Assets>Transaction Records
    sell-cryptocurrencies-Coinone

Coinone Pros and Cons

Pros

  • It has user-friendly interface
  • Adoption of strong security measures
  • 24/7 active customer support service
  • Availability of fiat and crypto deposit
  • Margin trading is available

Cons

  • It is not regulated
  • No credit and debit cards provision for deposits
  • Exclusive for South Korean traders

Conclusion

Coinone is one of the fastest-growing exchanges in the global crypto world. It has become one of the top pioneers within the South Korean crypto industry.

With its excellent user interface, top security measures and multiple coins traded on its exchange, Coinone remains one of the highly recommended exchanges for the crypto users and traders in South Korea and across the Asian borders.

Coinone FAQs

  1. What are the Coinone trading fees?

    Coinone has a flat trading fee of 0.10% for both makers and takers in each trade transaction

  2. How to recover the Coinone password?

    Click the login button at the top of the homepage and click “Forgot Password” Option. Enter the registered email address. Then you can generate a new password

  3. Is Coinone safe?

    Yes, It includes a two-factor authentication scheme, multi-signature wallets and ID verification to ensure the security of its client accounts and assets.

  4. Is there a Coinone mobile app?

    The Coinone exchange supports both iOS and Android platforms. Traders can conveniently access the exchange using their smartphones. 

Coinone Ratings  

Reviewed By Qadir AK

Easy to use
Trading
Fees and Limits   
Registration

Summary

Coinone is currently the second-largest cryptocurrency exchange located in South Korea, behind Bithumb alone.

4.1
Coinone - 8.2

8.2

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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