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CoinOne Comprehensive Review 2022 – Pros, Cons and Key Features

CoinOne

CoinOne is another crypto exchange that has established itself as one of the prominent offerings from South Korea. The platform is rapidly rising in the cryptocurrency sector and is among the handful that has existed for a long time and has been operational. 

The platform was listed among the best 20 crypto organizations at the moment of writing, is a Korean digital platform that genuine cryptocurrency investors must be aware of, even if they do not intend to utilize their products. However, even with all the features and functionalities, the platform continues to face criticism for its limited operations. Therefore, if you’ve been thinking of signing up with CoinOne, you might want to read this online review! 

In this post, we will offer you a comprehensive review of the CoinOne crypto exchange, including services, charges, advantages, disadvantages, and even more. Now let us jump into the contents of this CoinOne review.

Pros And Cons Of CoinOne

Pros
  • The exchange trades a majority of major crypto projects.
  • The customized trading system contains a lot of features.
  • Outstanding security for user payments and data.
  • A smartphone app with an easy-to-use UI.
  • There are several staking schemes to select from.
  • The capacity to lend money to other merchants.
  • For margin trading, leverage up to 1:4 is possible.
Cons
  • Only Korean WON is offered as fiat currency.
  • There is no referral scheme.
  • There aren’t enough demo profiles or guidelines for newcomers.

CoinOne At A Glance:

Website Homepage https://coinone.co.kr/
Year Founded 2014
Headquarters 4F, 69, Hangang-daero, Yongsan-gu, Seoul, Republic of Korea
Number of coins 195
Number of coin pairings -
Native token availability No
Exchange availability Yes
Hot wallet Availability Yes
Cold wallet Availability Yes
Customer Service Email: support@CoinOne.co.krLive ChatHelp CenterFacebookTwitterInstagram
Mobile app Yes
Leverage  To 1:4 (Depends on the trade option)
Minimum Deposit  1 USD
Transaction Fee 0.2 %
Withdrawal Fee 0.0015 BTC
Education Yes
Demo Account  No
Affiliate Program Yes
Execution of orders Market orders, Limit orders, Stop orders
The owner of the company CoinOne Inc.

CoinOne Exchange: Company Overview

CoinOne is one of South Korea’s major crypto exchanges, serving millions of traders. It is the third-largest cryptocurrency trading network in South Korea in terms of its trade volume and user base. The exchange has been active since 2014 and is backed by a team of seasoned experts in the crypto business. 

The platform provides a majority of South Korean residents with a gateway to extensive experience in the cryptocurrency business while backing them with high-security measures. Besides, there have been no attempted cyber attacks, giving it a unique standpoint as a crypto exchange. 

Customers of the firm can use its wallet, built specifically to meet the demands of persons involved in the cryptocurrency space, besides the exchange platform. In addition, this South Korean-based cryptocurrency startup has recently developed a platform for Indonesian nationals to widen its reach in Asia. 

The platform also has a branch in Malta that was recently closed for various reasons. Lastly, CoinOne has not only earned a reputation for itself in the crypto community, but it has also attempted to join the online gaming business.

coinone

Cryptocurrencies Supported In CoinOne

One of CoinOne’s key draws is the large number of currencies accepted on this network. Currently, the platform supports over 190 virtual currencies, along with some of the most unusual altcoins available in the crypto market.

To give you a better idea, here’s an overview of the different large and small projects that are available on the platform: 

Cardano ADA Meconcash MCH RushCoin RUSH DRC Mobility DRC Celeb CELEB
Chainlink LINK LUX BIO EXCHANGE COIN LBXC Polkadot DOT Avalanche AVAX Cosmos Hub ATOM
BTRIPS BTR Dogecoin DOGE TRON TRX Klaytn KLAY Solana SOL
Bitcoin BTC XRP Orbler ORBR Natural Farm Union Protocol NFUP Ethereum ETH
Crypto Bank CBANK MOTIV Protocol MOV Piction Network PXL ASTA ASTA Bitcoin Cash BCH
Bitcoin SV BSV Basic Attention BAT Linear LINA Compound COMP Sushi SUSHI
Misbloc MSB Everscale EVER Brother Music Platform BMP EOS EOS Ethereum Classic ETC
REDi REDI Handy HANDY Tezos XTZ Litecoin LTC Stellar XLM

Besides, the platform has also established itself for being an opportunist. The exchange is open to accepting new crypto projects while continuously replacing existing listed projects. This way, CoinOne provides a reliable platform for users who are busy diversifying their portfolios with new and upcoming crypto projects. 

[maxbutton id=”2″ url=”https://coinone.co.kr/” text=”Trade with Coinone” ]

Key Features Of CoinOne

Seamless User Interface

CoinOne presents itself as a ‘beginner-ready’ platform with UI developed so that even inexperienced traders can readily appreciate its trading services. The seamless UI allows customers to make investment decisions quickly and without hesitation. In addition, its Pro-chart feature simplifies complex trading with its simple and real-time operations.

While many argue that the CoinOne platform is created, keeping the South Korean inhabitants in mind, it’s not! The platform is also helpful for foreign users searching for a trustworthy platform for bitcoin trading. Therefore, your interest in the structured website will naturally increase once you enter the website.

The CoinOne Swap

The CoinOne Swap feature is a simple solution that enables users to make winning decisions and execute them without delay. It was designed to simplify the trading interface by displaying only three essential elements to users: the latest market rate of a coin, the highest quantity which can be purchased, and the account balance.

This Swap function does not handle all currencies; however, users may select from such a list of available coins. Furthermore, the switch is fast, and the rate is changed every 10 seconds, so users know precisely what they’re receiving at whatever rate.

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Minimum Trade Execution Time

Trade processing timing is critical since it allows you to earn a lot of money in a short period. Delays in transaction execution may lead to a loss for skilled traders hooked on placing many deals at once. The cryptocurrency market is recognized for its severe volatility, with the price of cryptos fluctuating dramatically. Because of the extreme instability of the cryptocurrency industry, the trading platform must complete operations quickly. Slow-performing systems would be unable to keep up with the frequent swings in cryptocurrency prices.

CoinOne offers a very short trade processing speed since it processes several assets in secs. As a result, citizens of South Korea use the platform for crypto trading rather than wasting hours. In addition, the use of modern technology allows for the cryptocurrency exchange to be completed in a short period.

The CoinOne Exchange 

CoinOne’s exchange facility is their flagship offering for more skilled traders. The exchange, unlike the Swap, provides additional details such as trade charts and an ordering sheet that includes numerous currencies listed in the exchange markets. The rate and quantity fluctuations over one day period, and many others.

Also, there is a chat option for verified accounts and a part where you may purchase and trade items. The webpage is written in both Korean and English. Therefore, people can instantly switch between the two.

CoinOne Plus

CoinOne provides CoinOne Plus, a dedicated DeFi platform, via which users may earn incentives for staking several cryptos. This functionality supports three forms of staking: lock-up staking, simple staking, and the node staking facility. 

It was founded in response to harsher constraints imposed by the South Korean administration, which led the marketplace, and others within South Korea, to investigate new crypto initiatives.

CoinOne Wallet

CoinOne, like many other crypto exchanges, provides its users with a reliable online wallet. The wallet allows customers to hold their digital assets without risking their safety. In addition, the wallet is protected by cutting-edge tech that prevents you from being a subject of a fraudulent attempt. 

This wallet preserves crypto-capital in secure layers that are impossible to penetrate in the event of a compromising attack. However, CoinOne does not provide solutions alone; it has partnered with BitGo, a well-known security platform recognized for high-quality wallet functionality. Incorporating a multi-sig wallet system protects users’ assets from any type of vulnerability risk.

[maxbutton id=”3″ url=”https://coinone.co.kr/” text=”Start trading with Coinone” ]

Additional Features Of The Platform

Because crypto markets run 24 hours a day, 7 days per week, the company has adopted round the clock customer service inquiries. If you come across any problem while trading on CoinOne, you would receive an immediate response since support personnel work attentively and relentlessly. A customer and the company’s personnel team have an excellent working connection.

Trading Experience

Users signing up for CoinOne are currently limited to a singular trading platform. The intuitive trading platform is designed to simplify trading for beginner traders. The simple and easy-to-navigate trading platform is ideal for experienced traders due to cutting-edge technology such as AI and blockchain in the platform’s processes. You will adore it when you are a regular user because everything on the website appears great.

Adding to it, users on the platform also have the option to access the ‘Pro’ charts section, which is available for every user and is free of charge. However, a few common elements can be noticed across the trading platform. For instance, all the views have a similar order book or highlight a part of the active trades, a price chart for a dedicated crypto token, and the given order history. 

Overall, the platform stands out with the type of trading experience it aims to deliver to its customers. It fits appropriately for users at any level of experience. 

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Fees Structure

CoinOne Trading fees:

The CoinOne platform is well known for its minimal fees. But, in reality, it’s among the exchange’s true strengths. Although there are zero deposit charges, transaction and withdrawal costs are associated.

CoinOne, like other crypto exchanges nowadays, charges both maker and taker fees. Makers are those that buy and sell on the market and provide liquidity, and they typically pay the lowest costs. Takers are those that fill a purchase or sell request, reducing exchange liquidity.

As seen below, makers can reduce their rates from a peak of 0.1% to a minimum of 0%. Taker fees start at 0.1% too but go no lower than 0.02%. The whole cost structure is shown below:

Trading Volume for 30 days Maker fee Taker fee
Less than 100,000,000 WON 0.1% 0.1%
Less than 1,000,000,000 WON 0.08% 0.09%
Less than 5,000,000,000 WON 0.06% 0.08%
Less than 10,000,000,000 WON 0.04% 0.07%
Less than 20,000,000,000 WON 0.02% 0.06%
Less than 30,000,000,000 WON 0% 0.05%
Less than 40,000,000,000 WON 0% 0.04%
Less than 50,000,000,000 WON 0% 0.03%
More than 50,000,000,000 WON 0% 0.02%

CoinOne Withdrawal fees

Several platforms offer reasonable transaction fees but charge you withdrawal charges on checkout. CoinOne, on the other hand, levies a withdrawal charge that is somewhat more than typical but is unlikely to deter you. 

The typical BTC withdrawal charge worldwide is 0.000812 Bitcoin per Bitcoin withdrawal. CoinOne assesses a fee of 0.0015 Bitcoin for each Bitcoin withdrawal. Indeed, this is about 100% higher than the market standard; however, the gap in USD vs. the market average Bitcoin withdrawal cost is every day.

Coin Minimum Withdrawal Withdrawal Fees Withdrawal Limit Deposit
Bitcoin BTC $2.0345406 /0.0001BTC $30.518109 /0.0015BTC N/A Free
Ethereum ETH $0.1085528 /0.0001ETH $21.710558 /0.02ETH N/A Free
Tether USDT $0.0099916 /0.01USDT $0.0000000 /0 USDT N/A Free
USD Coin UDSC $1.0003399 /1 USDC $0.0000000 /0 USDC N/A Free
Cardano ADA $0.9453580 /2ADA $0.4726790 /1ADA N/A Free
XRP XRP $0.0032676 /0.01XRP $0.3267625 /1XRP N/A Free
Solana SOL $0.3585329 /0.01SOL $1.0755986 /0.03SOL N/A Free

How Secure Is CoinOne?

CoinOne stands out as one of the safest and most reliable crypto trading platforms, backed by its history of no hacking incidents since its inception. The platform adapts to stringent security measures to keep up with its goodwill in the market. 

CoinOne has a surveillance staff that works around the clock to keep users’ assets and cash safe. It has established plans for cutting-edge security measures

CoinOne is a South Korean registered trading service, with its company registration information openly displayed at the bottom of its site. This instills trust in users as a Korean institution. However, because it is mainly aimed at South Korean users, it might not be a viable substitute for customers in other regions of the planet.

[maxbutton id=”3″ url=”https://coinone.co.kr/” text=”Start trading with Coinone” ]

Account Opening With CoinOne:

The website may appear intimidating initially, but when you feel ready to begin investing with this platform, just follow the instructions below.

Step 1: The first step to creating an account on CoinOne’s site is to switch your language preferences from Korean to English (option available on the top right corner of the page). Once done, you can then proceed with the next step. 

Step 2: Select the ‘Sign-Up’ option to initiate the registration procedure. CoinOne needs users to accept the exchange’s terms of service in the first step. Then users will be sent to a registration page where users will be prompted to offer the basic information.

Step 3: You would get a mail from CoinOne requesting that you validate the email account and join the platform using your login. After that, you’ll go with a lengthy signup procedure involving mobile number confirmation, OTP validation, and bank profile validation.

Once you’ve followed all the steps, it’s time to start your crypto journey! First, purchase and sell digital currencies once the CoinOne profile has been authorized.

Customer Satisfaction 

CoinOne has both online and physical call centers to manage the troubles that its user might come across. In addition, platform users can reach out to CoinOne support staff using the 1670-9756 phone number. However, if the phone line is busy, you might consider writing a letter to the team at support@coinone.co.kr.

CoinOne has a Trustpilot meager rating of 2.9 stars out of 5. We found a review in which people said customer service was questionable. Users who signed up for the platform found it challenging to verify their phone numbers if they were from outside Korea. The customer service didn’t even reply to the mail until four days.

Reviewers were found complaining regarding restrictions in withdrawals. However, some people have found CoinOne to be quick and straightforward to use.

Besides, other online reviews during our research highlighted that CoinOne offered adequate customer support. In addition, platform users were finding it easy to access real-time customer support via the recently added live chat feature. 

CoinOne Vs Competition

Looking at the available features and functionalities provided by the platform, it won’t be wrong to say that Coinone offers its users some unique trading options. Besides, the exhaustive crypto tokens provided by the platform are backed by stern security measures and a competitive fee structure. 

However, similar to the outstanding features, the platform also lacks in some places. In addition, looking at the different reviews on the internet, CoinOne’s adequate customer support seems to be a problem for many. Therefore, if CoinOne doesn’t seem like a reliable option for you, let’s evaluate how it performs compared to its primary competitor Coinbase Pro. 

CoinOne vs. Coinbase Pro

Both the platforms have a similar amount of trading volume and active wallet users. CoinOne and Coinbase both present users with similar trading convenience. In addition, both the platforms are touted for their competitive fee structures and stringent security measures. 

However, there are a few aspects where the platform stands out as a competitor; here’s an overview of a short but detailed comparison between the two platforms.

  1. Country Of Origin: CoinOne is a Korea-based exchange designed keeping in mind the country’s people. On the contrary, Coinbase Pro is designed and used by US residents.
  2. Supported Cryptos: CoinOne supports over 75 different tokens, while users signing up for Coinbase get access to 125 crypto tokens, making it a clear winner.
  3. Platform Fee: Both CoinOne and Coinbase operate over a maker-taker model. However, CoinOne takes the lead with less fee than the former. 

Overall, Coinbase seems to have a lead over CoinOne, making it a suitable match for users. However, let’s not forget that the platform charges higher than CoinOne, making it a more costly alternative over time. Therefore, if you’re a user who wants to deal in limited tokens cost-effectively, CoinOne is the platform for you. 

Final Verdict

Should You Consider Using CoinOne?

Furthermore, it employs a cold wallet for all user currencies, leaving them offline for further protection. In addition, the platform provides multi-signature and two-factor authorization for user protection.

Regular traders with high trade volume profit even more because the exchange features a sliding fee structure that decreases fees as trading activity increases. Users overlook cheaper costs over most platforms, but if you’re the economical sort who doesn’t like the exorbitant fees levied by various crypto exchanges, CoinOne’s affordable pricing system is for you.

However, the platform has prerequisites! You need to have a Korean bank and make deposits in WON, with options to eliminate exchange transfer costs when you can accomplish so. However, please keep in mind that such bank charges could also exist.

In any case, taking fiat transactions puts CoinOne forward of the majority of crypto exchanges, which only take other coins as deposits. CoinOne gets a big thumbs up.

This is a positive thing, but with other exchanges providing over 100 distinct cryptos, CoinOne might wish to concentrate on extending its stable of accessible assets.

Just be cautious if you want to utilize leverage because it is a sophisticated trading strategy with significant dangers and possibly huge returns.

[maxbutton id=”3″ url=”https://coinone.co.kr/” text=”Start trading with Coinone” ]

Shortcomings Of CoinOne

This marks the end of our comprehensive CoinOne review! Looking at all the features, functionalities, and different aspects of trading that this platform offers, it won’t be wrong to say that CoinOne is a reliable platform for users of all types. The platform makes it easy for users to start their trading journey and access some of the best tools for their operations. However, that doesn’t cover the platform’s shortcomings. 

Yet, on evaluating the overall offerings by CoinOne, it advances over several different aspects. Therefore, if you’re a beginner or an advanced trader looking to invest in quality crypto projects, CoinOne is an accessible option. However, if you think it isn’t, we advise you to align with the above parameters and get your hands on the perfect crypto platform.

FAQs

Yes, the platform allows trading in fiat currencies, but with a twist! Users signing up for the platform can only deposit the South Korean Won. Therefore, unless you don’t have the WON, there would be no means to access the fiat purchase option over the platform.
Currently, CoinOne is not open to selling crypto tokens via credit card. The platform is limited to selling cryptos via fiat and other necessary means. Plus, given its prominence around the globe, it might soon start accepting credit cards for crypto purchases.
No, the platform is currently not open to the idea of trading with USDT stablecoin. Since the platform is primarily designed for users based out of South Korea, the options are currently limited for their other global users.
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