Coinone Exchange Review: Supported Currencies, Trading Fees, Deposit, Withdrawal & More

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 have 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.

Overview

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 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

How to register on Coinone?

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.

Step 2: Now enter your active email address, and choose a strong password for your new account.

Step 3: Complete the CAPTCHA game and then click on ‘Register’.

Step 4: You will get a confirmation link sent to your email.

Step 5: Just click on that and you will be redirected to the website again.

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 the “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?

Step 1: Login to your account. Then go to the ‘Assets’ Page.

Step 2: Now click the ‘Deposit/Withdrawal’ Option.

Step 3: Select ‘Won (KRW)’ from the coin list. Then select ‘Deposit’

Step 4: Enter the desired deposit amount and select the ‘Next button.

How to withdraw on Coinone? 

Step 1: Log in to your account. Then go to the ‘Assets’ Page.

Step 2: Now click the ‘Deposit/Withdrawal’ Option.

Step 3: Select ‘Won (KRW)’ from the coin list. Then select ‘Withdraw’.

Step 4: Enter the desired withdrawal amount and select the ‘Next button.

How to buy cryptocurrencies on Coinone?

Step 1: Log in to your account and go to the Exchange page

Step 2: Here you can place an order by clicking the ‘Buy’ Option.

Step 3: Now, The Coinone order tab displays the status of the amount of KRW and cryptocurrency that can be bought.

Step 4: Check out the details once again and then submit the order.

Step 5: The transaction details can be searched found in Assets>Transaction Records

How to sell cryptocurrencies on Coinone?

Step 1: Log in to your account and go to the Exchange page

Step 2: Here you can place an order by clicking the ‘Sell’ Option.

Step 3: Now, The Coinone order tab displays the status of the amount of KRW and cryptocurrency that can be sold.

Step 4: Check out the details once again and then submit the order.

Step 5: The transaction details can be searched found in Assets>Transaction Records

Coinone Fees, Limits and Supported Payment Methods:

Coinone Deposit and Withdrawal Fees:

Coinone charges 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. Withdrawal fees vary with the choice of coins, Click here to know more.

Coinone Trading Fees:

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.

Click here for a detailed analysis of trading fees.

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

Supported Payment Methods:

Coinone gives access to Crypto deposits. As side support, it also facilitates fiat deposits via traditional routes such as bank wires in Korean currency (KRW). One should note that it doesn’t support any credit card or debit card for payment methods. 

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 Application:

Coinone can be downloaded from both the App Store and Google Play. It is also available as a download client for both macOS and Windows. 

This application allows users to trade, access wallet, fund account, receive notifications and check transaction history on the go. Apps pleasing design further simplifies crypto trading with your smartphone.

Coinone Referral Commissions and Other Services:

Coinone facilitated a Special offer program for its users in order to earn exciting rewards.

• VIP Program: 

Eligibility:

• Trading over 3 billion monthly.

Benefits:

• When you apply, you can get fee benefits of up to Maker 0% and Taker 0.01%.
• Multi-account, IP whitelisting and VIP special gift.

 To participate in this program and to know more click here.

• Market Maker(MM) Program.

Coinone operates the Market Making (MM) program for customers who provide liquidity to promote a stable market. Market makers have a role in supplying continuous liquidity to market quotation windows by creating orders for stable price formation and smooth trading of virtual assets on exchanges.

Eligibility:

• As a corporate member of Coinone, a certain amount of maker trading is required over a month.

Benefits:

• Trading fee benefits up to Maker 0% and Taker 0.01%.
• Closing fee exchange benefits (only if the Maker trading volume is over a certain level per month).
• Multi-account, 1: 1cs, IP whitelisting, etc. for smooth trading.

Is Coinone Safe and Secure?

Yes, the Coinone exchange is one of the safest exchanges since there have been no hack events since its inception.  

Coinone has an expert team that takes care of security, to keep the users’ assets and funds secure at all times. In addition to this, the platform also supports other security features such as:

• Multi-signature wallet.
• 2 Factor Authentication.
• Cold wallet services.

Conclusion:

It is evident from our review that 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 exceptional user interface, enhanced security measures, and multiple coins traded on its exchange, Coinone remains one of the highly recommended exchanges for crypto users and traders in South Korea and across the Asian borders.

Coinone FAQ:

Q1. Is Coinone Exchange Regulated?

No, this exchange is not regulated by any local or global financial agency. 

Q2. Is Coinone exchange available for US citizens?

No, at present Coinone exchange is not available in the US.

Q3. Is Coinone safe?

Yes, Coinone’s trading platform is prudent, accurate, and secure.

Q4. Where is the Headquarters of Coinone Exchange?

Coinone’s Headquarters is located in Seoul, South Korea.

Q5 What are the deposit methods supported by Coinone Exchange?

Coinone supports wire transfer and cryptocurrency deposit methods.