In South Korea, the cryptocurrency industry has become incredibly popular.
Huge trading volumes in the region attract many investors and companies, including foreign-to create your own cryptocurrency services.
Exchange, Coinone is one of the most popular and demanded services for the exchange and trade virtual currencies in the region.
The website site Coinone Inc. was in Seoul. The company is headed by CEO Myung-hun Cha.
South Korean service allows customers to buy and sell assets such as BTC, ETH and ETC.
The market in Korea began to grow rapidly, so the company came up with a way to take advantage of this situation and provide services to cryptocurrency exchanges to its citizens.
One of the important features of the platform is security.
Unlike its competitors, such as Bithumb, exchange, Coinone never been hacked.
It features two-factor authentication, which is not surprising as one of the key requirements to confirm the identity of the client is a valid mobile number.
But among other things it is worth noting that the trading platform has also the function of the purse.
Some users who operate in small amounts, will find this feature useful and convenient.
Opening an account on the stock exchange possible not only for individuals but also for corporate clients. The only thing that is worth noting – when such registration account uses a different mechanism. The company that registers your account should not specify only a valid e-mail address and the name and the corporate phone number, as well as its official website. skip to content ↑
Registration and verification platform Coinone
To create an account, you need to go to the official website and click “Register” in the upper right part of the website.
The service will request an active e-mail address, password to new account and enter captcha.
Security check is a long process. After the confirmation email, the next step is the confirmation of the existing telephone numbers of the client.
As soon as the confirmation link will be sent to the email address of the client, you must go through it to enter the personal Cabinet.
It is worth noting that many operators of cryptocurrency services like two-level protection accounts. The usual sites-exchangers often have from 1 to 3 levels of account security, Coinone their 9. As more high-status of the account, the users have new functions. Accounts with the most high, the ninth level, can be issued only to citizens of South Korea who live in the country or abroad, or citizens of other countries who permanently reside on the territory of South Korea.
To obtain the most advanced account opens all of the features you will need special permission from the technical support service.
For identification, you must send your picture. After identity verification, you must confirm a Bank account (provide Bank details), and then last but not least — check OTP.
skip to content ↑
Deposits and withdrawals
In exchange, Coinone is possible to use as Fiat money or cryptocurrencies.
However, the platform only accepts KRW to local Korean banks.
To create an account and Deposit funds in Fiat quite uncomfortable for users outside of the country.
On the other hand, cryptocurrency is possible without any problems to bring in cash, but the requirements for verification of accounts, it is necessary to perform.
Since the website is not fully amenable to translation into English, it is difficult to determine fees for withdrawals.
Every customer has a day to withdraw up to 100 million won, which is about 90,000 dollars. A limit on the transaction amount does not exceed 20 million won, i.e. about $18000. skip to content ↑
Trade at the service
On the main page of the website of the exchange above is a list of cryptocurrencies users can trade.
On the right side of the list of cryptocurrencies there are also several names is a cryptocurrency with margin trading.
On the stock exchange presents a lot of cryptocurrency assets to different trading pairs, but only BTC and ETH ETC available for margin trading.
Among all available assets, there are: bitcoin, bitches, Ethereum (ETH and ETC), RIPL, QTUM, litecoin, IOTA, and bitcoin gold.
Closer to the right edge of the screen is a column called “Live Orderbook”, in other words, the list of online orders.
Below this tab there is a panel “Membership Level”. Then the users can see your reputation level on their current transaction cost.
Lower on the same side is a chat where all participants can communicate.
skip to content ↑
Depending on the amount of KRW (Korean won), which was sold during the month, the fee for a maker and teyker varies from 0.1% to 0.02% for the first and 0.1% to 0.06% for the second.
Perhaps most importantly is to keep in mind that the more you trade the less you pay.
This scheme is a monthly trade amount is great because it promotes liquidity in the website and attracts traders who love to trade in large quantities.
Margin trading is 0.15% for all levels accounts for both the makers and Takeru.
skip to content ↑
Customer service is always an important aspect for the web site, particularly when it comes to the exchanger or cryptofaunal exchange.
This is due to the fact that they are dealing with users.
Among all the services offered by the service are telephone consultations.
At Coinone have the opportunity to contact tech support via their phone number that is listed on the website or send them an e-mail if the phone lines are busy.
skip to content ↑
The pros and cons
The exchange has become the second largest and quality service in all of South Korea.
Among the advantages it should be noted, that there is sufficient liquidity for the main types of assets.
Unfortunately, a big disadvantage in a small number of units of currency, but it is trumped by the fact that the most popular tokens all well represented.
Most of English reviews about the market is quite positive, however, some of them say the delay in withdrawals.
Not to mention the presence of margin trading on the exchange, but also unprecedented levels of security of your account.
The main disadvantage which cannot be avoided is that the platform is oriented to the market of South Korea. For residents of the CIS or other countries, including South Korea, to adapt to the work will not be easy. All foreign users will not be able to fully use the area for work, withdraw funds, or to access the full functionality of the site. Therefore, many people prefer other options trading platforms. skip to content ↑
The final opinion
First and foremost, exchange, Coinone makes a positive impression.
Many users, not knowing the details and all the features of the site, think it is quite impractical, however, he greatly underestimated in comparison with other Western competitive cryptocurrency services.
Exchange, Coinone is great for people living in the South Korean region. Its trading platform is easy to use for people without knowledge of Korean it is possible to work with a website in English (though not everywhere).
However, unfortunately, it is not aimed at consumers in other countries. Such narrow specialization does not allow the users of the cryptocurrency community to fully assess the merits of the site.
The website Coinone exceeded expectations and provided a trading platform that has wide distribution and great popularity, but provides the same functionality as its Western counterparts.
He works for simplicity, which may seem boring, but it is perfect for those who for a long time can and will devote to work.