CoinMetro Comprehensive Review 2022 – Fees, Pros, and Cons

Starting its journey from Estonia in 2017, CoinMetro has earned an extensive reputation for delivering a seamless user experience. Users can use the platform to buy cryptos instantly with advanced indicators and tools. Besides, the trading fees charged by CoinMetro are as competitive as it gets. 

But that is not all that CoinMetro has to offer! The platform has a lot more to ensure a seamless trading experience with minimal hassle. 

Continue reading if you’ve been thinking of signing up with the CoinMetro platform. This detailed review will navigate you through the ins and outs of the crypto exchange platform.

Pros And Cons of CoinMetro

CoinMetro at a Glance

CoinMetro: Overview

CoinMetro is one of the leading crypto exchanges established in Estonia and founded in 2017. The crypto trading platform comes with a highly interactive user interface with styles and designs that will appeal to any user at once. But besides that, the platform’s commitment to ensuring unmatched transparency is the key factor driving its popularity and reputation.            

The exchange comes with a wide range of features and functionalities that allows it to stand out in the crowd. These features are designed with the trader’s experience in mind so one can enjoy a seamless crypto trading experience with CoinMetro. You can even benefit from the 24/7 support service to sort out your crypto-related queries quickly. 

The continual growth of CoinMetro stands as a testament to its reliability. This is an important trait one needs to look for in a crypto trading platform, given the risks associated with dealing with crypto’s volatile nature. 

But the best thing about CoinMetro is that the platform is suited for all types of traders. This means it does not matter if you are a beginner or an advanced trader; everyone can benefit from the nuanced offerings of CoinMetro. In addition, the user-friendly dashboard of the platform makes CoinMetro adaptable for almost anyone. 

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Cryptocurrencies Supported in CoinMetro

CoinMetro supports over 30+ crypto tokens, including all the major and beginner crypto projects. As a result, traders get unmatched flexibility to diversify their crypto portfolios and mitigate risks. 

Some of the most prominent cryptocurrencies you can trade on CoinMetro include:

In addition, the crypto platform is also known to accept upcoming projects with future potential. Therefore, users signing up for CoinMetro have the chance to diversify their platforms with equal opportunities of investing in projects that may boom in the future. 

Key Features of CoinMetro

CoinMetro has an extensive range of features and functionalities that make this platform one of the best available in the market. Furthermore, each feature is curated with beginners and advanced traders in mind, making it easier for people to navigate through the different stages of crypto trading. 

Continue reading to understand these key features of CoinMetro better:

Spot Exchange

One of the primary reasons beginners love trading their cryptos with CoinMetro is the platform’s spot exchange feature. This is nothing complex but simply trading cryptos in real-time. This means you get an immediate transfer of crypto assets depending if you are buying or selling them.  

Spot exchange can take place between two individual traders or through crypto exchanges such as CoinMetro. Using this platform feature, you can only use the assets you already own. As a result, you get an excellent opportunity to evaluate all the indicators to invest your money in cryptos you think will become more valuable shortly.

Copy Trading

The other significant offering from the CoinMetro platform is its copy trading feature. This functionality has gained extensive popularity among beginners because it allows them to copy the trades of other experienced traders. This way, they manage to learn and understand the market while minimizing risks. 

This means your profit-earning potential relies on the competence and understanding of more advanced and knowledgeable traders. While this is a great way to mitigate risks when trading, choosing the right trader to mimic their trading is still recommended. 

Fortunately, this will not be much of a hassle with CoinMetro because the platform provides you with relevant information about all traders. Thus, it becomes easier for you to scan their trading history and analyze their profit and loss ratio. In addition, you can even evaluate the general qualifications of traders before copying their trading strategy. 

Margin Trading

If you enjoy taking more significant risks, then margin trading from CoinMetro is best suited for you. But remember that the greater the returns, the higher the chances of you dealing with greater losses. 

Margin trading allows you to trade your borrowed assets while using leverage. This will enable you to use values much larger than their available funds. The margin trading platform is as good as it gets, and many expert crypto traders have also appreciated this platform.     

Let’s better understand margin trading with an example. For instance, suppose you have $50 funds and see a position for two times leverage. In this case, you can borrow another $50 from a lender bringing your total to $100. Thus, margin trading allows you to shoot on assets you do not own.

Earn

Another distinct offering from CoinMetro is the Earn feature. This functionality allows users to earn returns by but bounties or staking. The first staking platform for Quant was released on CoinMetro in December 2020. The platform uses the native token of Quant Network, commonly known as QNT. 

All you need to do is deposit Quant into your main wallet and simply generate staking rewards without locking or opting in anything. You will then get the rewards in XCM, the native token of the CoinMetro exchange. One can withdraw the QNT at any time with minimal hassle. 

Then comes the bug bounty functionality that allows you to collect your rewards. This mechanism will reward you if you can determine any security vulnerability or flaw in the platform. Again, this is undoubtedly something unique you cannot easily find in any other crypto exchange.

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Additional Features of CoinMetro

The features and functionalities of CoinMetro are not just limited to its key offerings. Instead, the platform has a lot more to offer to ensure you have an unmatched crypto trading experience. Some of these notable features of the CoinMetro platform include:

1. Investing in Digital Securities: CoinMetro is one of the first platforms to help people invest in digital securities. Digital securities or security tokens are nothing but investment products that give investors a stake in an issuing company. 

These stakes can come from dividends or even rights to profit. As a result, businesses get an opportunity to gain access to finances while ensuring they get excellent returns. 

2. CoinMetro Mobile App: CoinMetro is committed to ensuring its users have an unmatched crypto trading experience. As a result, the platform also offers its users a user-friendly mobile application. The app is available for both Android and iOS devices. 

This allows traders to trade their favorite cryptocurrencies even when on the go. This way, it ensures that traders never miss out on any opportunity.

3. Demo Platform: Getting started with crypto trading can be an overwhelming experience for anyone, especially when a real transaction is involved. Thus, CoinMetro provides its users with a demo version of the platform to help them get started. 

Traders signing up for the platform get access to virtual funds to help them get started with a couple of trades to give them a better idea of trading on the platform. Users can even save their demo progress by signing up with CoinMetro. 

1. Affiliate Program: CoinMetro offers its traders a very appealing referral reward program. The affiliate program on the platform allows you to earn unlimited rewards upon inviting others to the platform.

The platform asks you to refer your friends and families to the platform, and in exchange, you get 40% of their net trading fees for an entire lifetime. This is unique compared to what most other crypto trading platforms offer in the form of a referral bonus.                

2. Unmatched Customer Support: CoinMetro provides its traders unmatched customer support at any time of the day or night. This means no matter when you encounter an issue with your crypto trading; you can always get support. 

One of the notable aspects of the support mechanism is that the platform reverts to the queries within five minutes. This makes it the perfect opportunity for beginner traders to learn, understand, and continue with their crypto trading in no time.

Trading Experience 

Talking of the trading experience over CoinMetro, the platform is confined to only one type of account for all its users. Unlike other platforms that charge you something extra for the ‘pro’ account, CoinMetro likes to keep it simple. 

Users signing up for the platform access a clean, intuitive dashboard with easy-to-process instructions. In addition, placing your orders and the funding process are also straightforward.

Overall, CoinMetro offers a great trading experience to the users and is a good option for both beginner and advanced traders. 

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Fee Structure Of CoinMetro

One of the primary reasons people love using the CoinMetro platform is its low fee structure. The platform has a maker-taker fee structure, providing users with an opportunity to decrease the fees with the increasing volume of transactions. 

Every time you put an order on the platform, CoinMetro charges a certain fee which is generally a percentage of the real value of what you have traded. The platform also charges different fees based on the type of trading you are using. So let’s understand the trading fees below. 

Trading Fees on CoinMetro

Withdrawal and Deposit Fees on CoinMetro

You can deposit and withdraw funds from your CoinMetro account in several ways. However, the platform will charge a certain fee on the deposits and withdrawals you make. So let’s check out this fee structure and get a better idea.   

Safety On CoinMetro

Security is one of the primary concerns for tech-savvy customers signing up on crypto exchanges. Thanks to the increasing crypto-jacking experiences across different platforms, users want to ensure that they collaborate with a platform they can trust. 

CoinMetro stands out in this prospect as the platform adapts stringent measures to ensure the security of its users. Here are some of its security features:

1. Multi-Signature: The multi-signature mechanism is one of the most important security features you can expect from any crypto exchange. Even CoinMetro has this feature where you need two signatures to initiate a transaction. One of those signatures is stored in the platform’s backend, while the other is stored in BitGo’s server. Thus, accessing your crypto assets without getting two signatures is impossible.
2. Verification of IP Address: The other important security feature you get with CoinMetro is IP address verification. This mechanism makes it mandatory to verify your IP address before logging on. This verification does not take much longer as you will receive a code over your registered email. Thus, you will be notified immediately if someone else is accessing your account.
3. Two-Factor Authentication: The two-factor authentication security feature is ideal for preventing unauthorized access to your CoinMetro account. With this, you need a code sent to your registered phone number or email. After entering the password, you need to enter the code sent to you. This allows CoinMetro to keep its data and all its crypto users safe from hackers and scammers.
4. Cold Storage: Your crypto wallets with access to the internet will always remain vulnerable. The internet makes it much easier for hackers and fraudsters to access and steal funds even before you know it. Thus, CoinMetro partnered with BitGo to provide traders with storage in safe and secure physical locations. Therefore, even if the platform’s security is compromised, the hackers will only get access to a small number of coins stored in temporary receive wallets.     

How To Open An Account On CoinMetro?

Setting up an account in CoinMetro will only take you a couple of simple steps, which you can complete in just a few minutes. These steps go as follows:

Step 1: Creating an account on CoinMetro is easy. All you need to do is click on “Sign Up.” 

Step 2: Enter all necessary details and credentials 

Step 3: Click on Create Account

Step 4: Verify your account from the email

Step 5: Verify your identification along with an address proof

Step 6: Make a deposit using any of your preferred ways.

Step 7: Buy the cryptocurrency of your choice and start trading in no time. 

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Customer Satisfaction

Customer satisfaction is one of the strongest points of CoinMetro. Apart from offering some of the lowest fees, the platform also curates all its features and user interface designs with customer satisfaction. The customer support mechanism of CoinMetro is also muchly appreciable. You can access support via live chat and get your response in less than five minutes, no matter the day or day. 

But the support does not just end here because traders can even connect with the CEO of CoinMetro. The weekly AMA session on Youtube allows you to ask every question associated with CoinMetro and the crypto market in general. This is key in enhancing customers’ overall experience with the platform. As a result, you will barely find any customers complaining about CoinMetro’s customer satisfaction. 

The platform also offers outstanding referral programs that you might not get from any other crypto exchange. The commission for referrals is 40% of the trading fees and an additional 10% of the second-level referrals of the trading fees. 

CoinMetro is also licensed by the European Union (EU) as a well-established crypto exchange. Furthermore, the platform has been licensed by regulators in Australia and the US since February 2022. Therefore, it would be safe to say that CoinMetro does all that is needed to ensure unmatched customer satisfaction for its traders.     

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CoinMetro Vs. Competition

CoinMetro is one of the best crypto exchanges currently available in the market. However, one cannot help but notice the platform came into being in 2017. But many other crypto exchanges were already there in the market with a solid foothold among crypto exchanges across the globe. Yet with better innovation and focus on customer satisfaction, platforms like CoinMetro have also done an excellent job of standing out. 

Nonetheless, if you are looking for crypto exchange, it is only fair if you compare it with competitors. One such notable competitor of CoinMetro is Coin DCX. So let’s check out how they compare against each other’s offerings. 

CoinMetro Vs. Coin DCX

Both CoinMetro and Coin DCX are among the finest crypto exchanges in the market. Also, the offerings of these platforms are more or similar to a great extent, mainly because of the increasing competition. So continue reading to understand better these differences with the table that follow:

Looking at the short but detailed overview, we can say that both CoinMetro and Coin DCX have their advantages and shortcomings over each other. However, it’s worth noting that Coin DCX offers a broader range of cryptocurrencies compared to CoinMetro. But then again, when you weigh the other offerings of CoinMetro, the platform leads over several areas. Therefore, if you want to sign up with CoinMetro, Coin DCX, or any other platform, always consider evaluating your requirements and choosing the crypto trading platform that best serves it! 

Final Verdict

Should You Consider Using CoinMetro?

A wide range of crypto trading platforms has emerged in recent times. As a result, all exchanges can’t excel on every front. Thus, even CoinMetro has a couple of shortcomings that it could work on to enhance the overall platform. So here are the upsides and shortcomings of CoinMetro to help you make a better and more informed decision. 

1. Licenced: CoinMetro is one of those crypto exchanges available in the market that have valid licensing from three prominent regions. These countries include the European Union (EU), the United States (US), and Australia. So there is no point ever doubting the authenticity of the platform.
2. Affordable Trading Fees: CoinMetro has long retained an exquisite reputation for charging very low trading fees from its traders. This is a key factor that makes CoinMetro one of the favorite platforms for crypto traders from across the globe.
3. Customer Support: Another primary reason fueling the rapid growth and expansion of CoinMetro is customer satisfaction. The platform and the company as a whole go to great lengths to ensure their traders have an unmatched crypto-trading experience on the platform.
4. Copy Trading: Many beginner crypto traders prefer to start their journey with CoinMetro. One of the main reasons behind this is because of the copy trading feature that CoinMetro offers. This feature allows you to mimic the trading strategy of more experienced and seasoned crypto traders on the platform. 

Shortcomings of CoinMetro

Like any other crypto trading platform available in the market, even CoinMetro has shortcomings. The major ones include: 

1. Lack of Crypto Selection: Compared to most other crypto platforms in the market, CoinMetro offers a smaller selection of cryptocurrencies. So this is an area where you make some efforts for enhancements.
2. Lower Liquidity: Another shortcoming that crypto users in CoinMetro complain about is lower liquidity in the platform. Thus, CoinMetro needs to take corrective measures and address such issues at the earliest. 

Given the aforementioned pros and cons of CoinMetro, it is certain the platform has more pros than cons. Therefore, starting your crypto journey or even using the platform as an advanced trader is not bad. Also, the unmatched customer satisfaction and wide range of fiat currencies accepted in CoinMetro certainly make up for the two shortcomings. 

With this, we hope that this comprehensive review of CoinMetro provides you with a complete idea of what the project is really about. Considering all the different factors that come into play, CoinMetro stands out as one of the most unique crypto platforms currently available in the market. 

Similarly, the platform also lacks behind in certain aspects. Therefore, ensure that you have done all the required research before you sign up for the platform. All the best!

FAQs 

Shrey Jain

Shrey Jain is a Chartered Accountant who holds a forte in creating informative content on niches like Finance, Blockchain, crypto, and Taxation. He is a contributor on Hackernoon and Publish0x, where the audience has highly appreciated his articles. In addition, his knowledge in the finance field has helped both beginners and experts gain valuable insights into the domains of Blockchain and finance.

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