Everything there is to know about Coinone

In such a fast-growing industry like crypto, it’s important to prioritize the safety and security of users in exchange sites where the bulk of trading activity occurs. By providing security protocols, crypto users have the freedom to trade, buy, and sell digital assets without any worries.

Fortunately, when it comes to safety measures, crypto exchange Coinone has the technology to ensure the security of its clients’ accounts and funds. Due to its exceptional features like a user-friendly interface, multiple coin options, and safety precautions, Coinone is one of the top-recommended crypto exchanges in South Korea and its neighbouring countries.

What is Coinone?

Coinone is an exchange that originated from South Korea and was founded by Myunghun Kevin Cha in 2014. As of writing, Coinone is one of the largest crypto exchanges in the country after Bithumb. In the exchange site, users can store and trade their South Korean won with other cryptocurrencies.

With the goal to create a user-friendly cryptocurrency platform, Coinone is 10th on the list in terms of trade volume in worldwide crypto exchanges. It’s also an entry-level crypto exchange because it doesn’t support crypto-to-crypto trading and only offers fiat-to-crypto trading.

The exchange has a flat rate of 0.10% which is lower than the global industry average of 0.25%.

Features of Coinone

Coinone has plenty of features that will benefit its users. Check it out below:

Payment method

Crypto deposits are the main payment option in Coinone, but the exchange site also accepts fiat deposits in KRW through bank transfers. However, the exchange doesn’t support other fiat currencies, as well as deposits through debit or credit cards.

Wallet

Coinone provides wallet services to its users to store their tokens. After purchasing your tokens, you have the option to keep them safe in your Coinone wallet.

User Interface

Coinone’s user interface is impressive because it offers efficient trading between its users. It has the Prochart tool that users can refer to whenever they need an in-depth analysis of different currencies during trading.

Customer Support

Coinone users can reach the support team by sending a message via email or phone. There’s a dedicated support forum to address any problems the users might experience. With this, Coinone staff can easily see your message and respond to you directly.

Top 10 supported currencies

You will find multiple cryptocurrencies available in the platform, and using your South Korean won, you can get your hands on these coins by buying them. Here are the top 10 cryptocurrencies supported by Coinone:

• BTC
• ETH
• XRP
• BCH
• XLM
• TMC
• KLAY
• LTC
• BSV
• EOS.

Mobile and desktop version

You can access Coinone’s mobile and desktop versions anytime and anywhere. The platform supports both iOS and Android systems so you can view it using your mobile device.

How to sign in on Coinone

Before purchasing, selling, or trading cryptocurrencies in Coinone, you need to create an account first. Coinone’s website is in Korean, but you have the option to translate it to English.

Click on the ‘register’ button and provide the necessary information. You can register as a trader or a Coinone user. If you will be signing in as a trader, remember to verify your identity by providing an email address, phone number, and a photo of your valid ID.

If you will be registering as a Coinone user, you must provide proof showing that you’re a resident in South Korea. A South Korean ID with an attached memo that states the purpose of the ID can also be a proof of identity.

How to purchase cryptocurrencies in Coinone

Proceed to the ‘exchange’ tab once you’ve created an account in Coinone and choose from crypto trading, margin trading, or deposit/withdrawal to begin your transaction.

Coinone will provide you with all the information needed to keep track of the available cryptocurrencies in the platform. There’s also a live order book where crypto activities are shown.

To trade in Coinone, select the currency you’d like to purchase. After checking the fees, deposit the required South Korean currency amount through bank transfer. Clicking on the ‘transaction’ tab will show you the status of your transaction and history.

Coinone pros and cons

Just like any other cryptocurrency exchange, Coinone has its pros and cons. Find out if this crypto exchange platform is right for you here:

Pros

Low fees

Coinone offers low transaction fees compared to other crypto exchanges. This is a huge advantage especially to those who don’t want to pay additional fees just to complete a transaction.

Multiple cryptocurrencies

Coinone has a list of various cryptocurrencies available for trading.

Security

Coinone implements rigorous processes to keep the platform secure and safe. Some of its security features include the two-factor authentication, multi-signature, and ID verification. With its high level of security, users can count on Coinone to protect their accounts and wallets.

Accepts fiat currency

Though Coinone only accepts South Korean won for fiat currencies, users will easily be able to transfer them because they can use any Korean bank transfers.

Excellent trading platform

Coinone provides its users easy navigation and uncomplicated processes to perform smooth transactions. With its features, users will be able to trade, buy, and sell cryptocurrencies worldwide without hassle.

Cons

Target market is primarily in Korea

Being a South Korean-based crypto exchange, some of the features on the platform cannot be translated. This is a disadvantage especially if the client is based in another country and can’t understand the language.

Only accepts South Korean won

As mentioned above, Coinone only supports South Korean won in purchasing cryptocurrencies. If a client is from another country, it’ll be hard to purchase cryptocurrencies on the site since they will first have to convert their currency into Korean won.

Sign up with Coinone and start trading!

Now that you know what Coinone is all about, begin trading using the platform to get your hands on your desired cryptocurrencies. With the exchange’s goal of providing easy payment solutions, you’ll get to trade your coins fast and with ease!