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CoinEgg Review - is it scam or safe?

CoinEgg Review - Is coinegg.com scam or safe cryptocurrency exchange?

RATING: 3.4 / 19 REVIEWS

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Trading Accounts

Account type Leverage Trading Fee Deposit Fee
Standard N/A 0.10% Free (Crypto only)

 

CoinEgg is a cryptocurrency exchange, based in the United Kingdom. The company only focuses on digital assets, without providing any form of fiat currency trading. While this will make them unattractive for some companies 

 

CoinEgg Advantages

 

A lot of altcoins – at the time of writing of this review, 42 different assets are included on CoinEgg. While the usual suspects, such as Ethereum, Bitcoin Cash and Litecoin are present, some of the rest appear to be more exotic. You must check the details to get the full picture, but it’s safe to say these are not the top coins, in terms of market capitalisation. 

 

While 42 may be a lot for some people, if you are looking for a specific coin/token, you should first do your research on the venues, where it is traded. Bittrex, Binance and EtherDelta are very likely to have it.

 

Low trading fees -  the 0.10% fee on all trades makes CoinEgg a very competitive exchange. While other parts of their service may not be so pleasant, you must keep in mind a lot of exchanges charge something around 0.25%, with Kraken offering 0.26%, but a more trader-friendly environment.

 

Has not been hacked – CoinEgg has been around since 2013 and we didn’t find any information on a successful attack around this exchange. This is not a guarantee for the future, but is always a good sign.

 

 

CoinEgg Disadvantages

 

 

Trading only against BTC – as we hinted in the beginning CoinEgg does not offer any type of fiat currency integration. Even the slightly controversial Tether tokens (USDT – a cryptocurrency backed by US dollars) are not listed.

 

 

Low liquidity on some instruments –  this is to be expected given the nature of CoinEgg – fiat currency deposits are not supported and some of the tokens seem bizarre (at least to us).

 

 

 

Withdrawal fees up to 1% - this exchange charges withdrawal fees, which can go as high as 1% for the more exotic coins. The rates for the more popular coins are rather acceptable, with 0.001 BTC, 0.001 LTC and 0.01 ETH, respectively.

 

 

No leverage offered  – CoinEgg does not allow traders to borrow money in order to speculate more aggressively. If this is what you are looking for, a forex broker may be a suitable alternative for you.

 

>>Forex brokers, offering Bitcoin<< 

 

These companies offer much better trading platforms (more on that later), but on the other hand do not grant you ownership of any coins. Instead you trade the so called Contracts For Difference (CFDs), which only mimic the price movement of the asset in question. This is how most traders speculate on things like gold and oil, but you should read the details on cryptocurrency CFDs, before trading with such instruments.

 

Poor charting – the platform provided by CoinEgg is relatively nice. The instrument list is placed on the left in a minimalistic fashion, while the rest of the things are aligned in an intuitive way. That being said the charting is not that helpful. Here is a snapshot:

 

 

 

Conclusion

 

CoinEgg is a UK-based digital assets exchange. The company does not accept or send any form of fiat currencies, which puts them in the category of trading venues which are not regulated (as no legislation for them exists). This will definitely not be everybody’s cup of tea, but when it comes to exotic assets,  CoinEgg offers a few of them. With such low fees, it’s not hard to see this exchange attract even more volume in the future.

 

 

Coming back to the regulatory aspect, we will reiterate what you probably know – dealing with cryptocurrencies still carries a significant level of risk. Even some of the top-tier exchanges have been hacked in the past. This is one of the topics on which the forex, brokers offering cryptocurrency trading have an edge. That being said, scammers do pop-up in the field of traditional finance. Check our list of tightly regulated forex brokers, offering Bitcoin below. 

 

>>Regulated cryptocurrency forex brokers<<

 

Here is the summary of CoinEgg:

 

Pros Cons
A lot of altcoins Trading only against BTC
Low trading fees Low liquidity on some instruments
Has not been hacked Withdrawal fees up to 1%
  No leverage offered
  Poor charting

 

Latest news about CoinEgg
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Traders` reviews for CoinEgg

Spread

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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Summary

Pros

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Common exchange, not a scam

You shall first make sure whether it is available to withdraw or deposit at first. you can do that through their telegram: https://t.me/coineggofficial and twitter. And it needs some improvement on operating experience.

Nate 06/29/2018

You will never get your money out

The ID verification is impossible when a 600 dpi flatbed scan of my passport is not “clear”.
The photo with the document in my hand was no close enough to my face, even though it almost covers my face.
What ever you send them, they will find a pathetic excuse to not accept the document. You’ll just waste your time trying, never getting any further.

Mikko 06/21/2018

coinegg is a scam

They Won't let me withdraw my over 800 ONT. Seems like they are doing it on purpose. Because I've put in a random nickname while signing up (how should I have known that I had to use my real name), and was not able to change it while undergoing the KYC process (there simply is no option to change it to your real name, the "Please fill in your real name" is a bad joke). Their customer service is extremely unhelpful. It has been weeks and many tickets, these bastards refuse my KYC. And I'm not from the USA or any other country which they won't accept. Binance, Bittrex, Gate.io, I've never had any issues with the KYC.
Either they play being dumb or they truly are dumb. I suppose it's the former and they want to keep my funds/money to themselves, the greedy idiots. I told them to look at my email address which is tied to my account, which tells them my real name, but alas, not even that could help. They refuse anything. No matter what I do, no matter how logical my solution is with my email address, they just don't want to cooperate.

annoying 06/17/2018

CoinEgg admin is incompetent, caused millions of dollars worth of losses

https://www.reddit.com/r/GameCreditsCrypto/comments/85205e/readme_exchange_status_which_ones_are_safe_to/dz577st/

CoinEgg claims to be safe exchange but blames other party for its own fault.
Coinegg wants money from developers to fix Coineggs mistake LOL
I know people that had 100K GAME on the exchange worth 20 BTC now their account is worth 2 BTC because the admin of COinegg forgot to update for 2 months after the hardfork.

SCAM. stay away from this crap exchange.

coinegg scam 05/18/2018

You will not get money if you send coin into CoinEgg

This site is scam. You can not withdraw your coin. They accept well, but never let you withdraw your coin.

K 02/13/2018

Ordered alt coins and cannot withdraw them

Hi,

I really start to be doubtfull about CoinEgg. I ordered IFC altcoins and wanted to withdrwa them, but I was unable to withdrwa them. I filed a complaint and everytime they ask me to be patient and someone will get in contact with me, but nothing like that has happed. I really start to think if this coinegg site is legit. Bottom line, I allready lost a lot of money because I could not withdraw MY coins, the coins I HAVE paid for. I will keep you posted if something happens, but it looks like what "stay away"has been writing here in this time line.

va-voem 01/16/2018

CoinEgg - Finally the problem of "wallet upgrade" was solved

Today my saga ended.
After 8 days trying to withdraw and talking to the support at least 2 times per day, finally the problem of "wallet upgrade" was solved and my withdraw of 2578 XRPs completed.

I will never do business again with Coinegg and I advise to you to not do it.
What happened is a total disrespect with the client.
Does not exist "wallet upgrade", the Ripple network is working just fine in every other exchanges that I use.
They keep your coins stucked for a period of time, and If you insists, you recover your coins after 1 week or more. And in this time you maybe lost some opportunities.

I wish luck to all of you. Don't give up and don't use it again. Tell other people to not use too.

Regards

----------------------------

For those who had problem with authentication to withdraw, just select any country, select the option "Passport" (even if you are sending your ID or driver's license) and send your documents.
After they verify your account, enter in chat each day and tell them that you want to withdraw. Insist each day (they will tell that the "wallet is being upgraded". This is the excuse they use to fool the customers). Magically some day you will get back your coins.
Hope this helps someone. Tell everybody to not use this exchange.

Stay Away 01/12/2018

Scam

I lost 250$ in this website, as this site it is a scam, their customer support is basically useless, and their authentication in order to withdraw is impossible. stay away from this site.

SCAM! SCAM! SCAM!

Andrei 01/11/2018

I can't withdraw from Coinegg!!

Like everyone else on here I can't withdraw from Coinegg.

FFS!

michael hulmes 01/11/2018

Its Racist

Looks tempting, but even if registration only demands an email add, any withdrawal demands passport verification, and guess what, in their terms and conditions they only accept UK citizens, while the withdrawal page accepts around 20 particular nationalities.

Stein 01/07/2018

Can't withdraw

They accept all incoming coins at the earliest. When you try to withdraw your coins it sucks. No proper support from customer support and their answer is the same that there is a technical problem from their side whenever you ask about withdrawal. Its like oneway exchange, you will not be able to get back your coins in any means from CoinEgg

Madhan 01/07/2018

Scam

There’s no way to withdraw! I’ve been waiting over 24 hours for a response. I’ve tried reaching out via Twitter, email, and their online chat support. Please stay away from this ‘exchange’!

Andrew Pham 01/06/2018

Not getting my money out

I transfered over $ 1000 in BCH from Egg to another account, however it didnt came in.

Dirk 01/06/2018

Coinegg scam

This is a scam. You can put money in and never get it out. I guarantee you'll wake up one day soon and this site won't exist anymore. Live and learn

Mike 01/06/2018

Can't withdraw plus they steal when you do withdraw

Can't withdraw plus they steal when you do withdraw

I tried to withdraw my Ripple but they always saying some technical work is under progress to fix the withdrawal. It has been for 5 days now. Withdraw TRX but never received and transaction on blockchain does not exists. So they are saying technical work needs to be done to resolve this issue. Nothing happened!

Stay way from this site!!!!

Alex 01/05/2018

Coinegg scam

I can’t withdraw. Nobody will answer me....

Bill k 12/19/2017

f*ck support

f*ck , scam , they dont support withdraw

kiencuong 12/16/2017

Beware!!!!

Never used this exchange but their company address as per THEIR website is a residential house on a residential street in Birmingham UK. Not exactly what you would expect from an exchange.

Dave Smith 12/04/2017

They are scammers

If you send your tokens there they will kidnap there, does not matter the amount.


Don't use Coinegg scammers if you value your tokens.

Coinegg user 11/29/2017
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