CoinEgg is an unregulated digital assets exchange based in the UK, formed by an AI expert among having other qualifications. In this article, we look at the CoinEgg review as the bearish run continues on the cryptocurrency market in 2018. However, the market is starting to gain normalcy and the high price fluctuations witnessed earlier in the year are smoothing over.
The platform offers several altcoins and users can trade them against Bitcoin and Ethereum. The site does not provide its services to citizens of countries facing economic sanctions and surprisingly, huge economies such as the US and Hong Kong that promote the free market.
The platform is best suited for a beginner to cut their teeth in the cryptocurrency exchange market. CoinEgg has a few charting tools, and they are yet to build up their list of digital assets; however, they are enough for a beginner trader. CoinEgg has over 40 tradeable digital assets, and they keep adding more. You will find both popular and rare coins as well as ICOs.
Some of the cryptocurrencies on CoinEgg have yet to be listed on to the more established currencies, and by purchasing and keeping them, traders will sell them for a profit when they make it to the big exchanges. The altcoins are available on three markets, Bitcoin, Ethereum, and CoinEgg’s own USC token. Ethereum can only be exchanged for only five cryptocurrencies, and this makes Bitcoin, and the USC token has the most tradeable assets.
With that said, most users feel that CoinEgg is lacking depth and features. A perfect example is that the order book offers simple market orders instead of going all out and adding stop losses and limit orders. There is also only one type of account available on CoinEgg, and there is no preferential treatment given to traders, no matter the size of your trading volume.
Deposits, Trading, and Withdrawals Fees
Like a majority of the exchanges, CoinEgg does not have deposit fees, but your bank or credit card company could charge you for it. However, for withdrawals, the fees can be as high as 1%, but they vary from one cryptocurrency to the other. When it comes to trading, CoinEgg charges a 0.1% taker fee and gives a similar maker amount as a rebate.
Security and Support
In recent times, crypto entities especially exchanges have been victims of cybercrime where hackers make off with funds and users’ personal data. However, CoinEgg is yet to be hacked, and it has maintained its integrity thus far. Since it is not regulated, users need to proceed with caution and take security matters into their own hands. The website does not offer much information to support their claims that they use top-level security.
You can reach the customer support staff via email or the live chat option on the website. However, it will take a while before your issue is sorted out. They also have limited FAQs, and this makes their support weak.
CoinEgg is slowly becoming a force to reckon with in the industry, but they have a lot to improve. However, their vast array of rare cryptocurrencies and ICOs make it a perfect site for beginners and professionals looking to make a killing when the rare coins get listed in the more established exchanges. We hope that this CoinEgg exchange review has given you proper insight into how the exchange works.