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Coinlink Review - is it scam or safe?

Coinlink Review - is coinlink.co.kr scam or good cryptocurrency exchange?

RATING: 2 / 1 REVIEWS ForexBrokerz Coinlink
Coinlink is not regulated. We cannot guarantee your money is safe.

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Trading Accounts & Conditions

 

 

Account type
Leverage
Trading Fee
Deposit Fee
Withdrawal Fee
Standard
N/A
Max 0.1%*
Free
1000KRW / 0.001 BTC

 

*Depending on the trading volume of the client in the last 30 days.

 

Coinlink is a Korean cryptocurrency exchange that offers trading against the local fiat currency, KRW. Clients of this exchange are required to verify Mobile / Bank account to be able to use the platform normally, i.e. to make deposits and withdrawals.

 

Coinlink Advantages

 

Low-cost trading

The trading fees at Coinlink are not divided into the “maker” and “taker” category. Instead, it charges a flat fee of maximum 0.1% per trade, based on the trading volume of the user for the last 30 days. Here are the details:

 

 

This is a very low-cost service. By comparison, major Korean exchange Korbit charges taker fees up to 0.2%.

 

KRW and Bank transfers accepted

As we mentioned in the beginning, Coinlink works with the local fiat currency, Korean won (KRW). It also accepts bank transfers from Korean banks, which is one of the most convenient payment methods for fiat. In addition, the exchange has implemented the self-regulatory policy consulted with the Banking Association regarding security and real name account authentications.

 

No fees on deposits

Another thing we like about Coinlink is that it does not charge fees on any incoming transactions (although the banks involved will).

 

Several altcoins featured

Coinlink does not offer an extensive cryptocurrency portfolio like Binance or Bitfinex, but you can use it to trade Bitcoin and several other coins, such as Ethereum, Karma, Walton, and Hcash. By the time of writing this the most popular trading pairs on this exchange are KRM/KRW and ETH/KRW.

 

Advanced trading platform, mobile apps available

Coinlink delivers two web-based platforms: a simple one without any charting, and a platform with advanced features and charts provided by TradingView. Mobila apps are also available to investors who prefer to trade on the go. Here is a snapshot of Coinlink’s advanced platform::

 

 

Coinlink's advanced trading interface with a BTC/KRW chart loaded. Click on the image to zoom in.

 

 

Coinlink Disadvantages

 

For Koreans only

If you are not Korean, dealing with this exchange probably won’t be easy for you, as it requires a Korean bank account for verification.

 

Trading only against KWR

Although Coinlink offers several altcoins, they can’t be freely traded against one another. Trading is done only against Korean won, which is actually the case with most local exchanges, yet we find the fact that there is no coin-to-coin trading quite disappointing.

 

Withdrawal fees

The fees on withdrawals applied by Coinlink are in line with what other Korean exchanges charge, yet they are not to be underestimated. Here is the complete information:

 

 

 

No margin trading

Leveraged trading is not supported at Coinlink, which is quite understandable, given their targeted customers. This is simply a place from which one buys cryptocurrencies with Korean won. Yet, if you wish to gear up your trading, you can do that with Major Korean exchange Coinone, or with forex broker that offer trading in cryptocurrencies.

 

 

>>Forex brokers providing leveraged Bitcoin trading<<

 

 

Relatively low trading volumes

Another disadvantage of trading at Coinlink is that the trading volumes on all trading pairs seem poor, which means that the liquidity is low.



Conclusion

 

Coinlink is a rather small South Korean entry-level crypto service, which is low-cost and also offers an advanced trading platform. Trading on this exchange is done solely against KRW and it is basically intended as a domestic service, which is actually the case with most South Korean exchanges (Coinone Bithumb, and Korbit). Nonetheless, Coinlink is the first exchange in Korea to be operated by a KOSDAQ-listed company, Fourth Link, through its subsidiary, Certon. This adds a certain level of transparency and reliability to Coinlink.

 

That being said, most crypto-exchanges worldwide operate without any license, and Coinlink is no exception. This involves certain risks, so if you prefer to invest with a regulated entity, you can check out our list of tightly regulated brokers that offers trading in Bitcoin and other altcoins.

 

>>Trade Bitcoin with a well-regulated forex broker<<

 

 

Here are, once again, the weak and strong sides of Coinlink:

 

Pros

Cons

Low-cost trading

For Koreans only

KRW and Bank transfers accepted

No coin-to-coin trading, nor margin trading

Several altcoins featured

Withdrawal fees

No fees on deposits

Operated by a KOSDAQ-listed company

Advanced trading platform, mobile apps available

Relatively low trading volumes

 

 

Latest news about Coinlink
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Traders` reviews for Coinlink

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