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Coinsuper Review - is it scam or safe?

Coinsuper Review - Is coinsuper.com scam or safe cryptocurrency exchange?

RATING: 2.7 / 1 REVIEWS ForexBrokerz Coinsuper

RECOMMENDED BITCOIN BROKERS


Trading Accounts & Conditions

 

Account type Leverage Maker Fee Taker Fee Deposit Fee
Standard 1:1 0.20% 0.20% Crypto and Bank transfer free: Free

 

Coinsuper is a relatively new cryptocurrency exchange, based in Hong Kong. While they were pretty much under the radar, the volumes have picked up substantially in recent weeks. This attracted our attention and we will present 

 

Coinsuper Advantages

 

Two-factor authentication (2FA) – when it comes to security in the world of crypto, few measures are as widely accepted and highly praised as this one. For those of you who are not familiar with it, 2FA allows you to connect your account at an exchange with an an external device (most often, your smartphone). Then a confirmation will be required upon every log in. Coinsuper has this feature.

 

USD banking – Coinsuper accepts bank transfers, allowing one to buy cryptocurrencies for the first time. This is what we usually call an “entry level” exchange. Sadly this one doesn’t accept credit cards, unlike some others.

 

>>Buy Bitcoin with a Credit Card<<

 

No charges on deposits – more and more exchanges have started adopting this policy, given the competitive environment in which they operate. Still, this does not mean a mining or banking fee (depending on what you are depositing) will not be applied by respective system.

 

Low trading fees  – one of the most important factors for active traders, the fee charged on each trade is 0.20% for both “makers” and “takers”. This makes  Coinsuper one of the competitive exchanges in today’s environment, where everything above 0.25% is considered to be high.

 

 

Focus on the major coins – while the coins, offered at this exchange aren’t as many as the ones, provided on some other venues, they are the most well-known ones: BTC, BCH, ETH, ETC, LTC, EOS, DASH, XEM, OMG and BUC (the exception to the rule). The trading pairs are matched against BTC, ETH and USD.

 

Solid platform – the interface at Coinsuper is rather nice. We have seen the same charting package and layout multiple times at other exchanges and while we prefer the TradingView one, this also isn’t bad. Here is a preview:

 


The web-based platform at Coinsuper

 

Few, but mostly positive reviews – there aren’t that many comments about this project, the satisfied customers appear to be more than the unhappy ones.

 

Coinsuper Disadvantages

 

Not much company background – this is a thing which we have frequently seen with some of the best looking cryptocurrency exchanges. A few pictures, address of operation and maybe a simple video will make them seem a bit more credible in this unregulated space.

 

Established in 2017 – one of the few things we know about Coinsuper is the fact they are a new company. While it is amazing to attract the volumes they have in this short of a time period (a few months), the project may find challenges along the way.

 

A lot of minimum requirements – this may prove to be frustrating for smaller traders, but isn’t that uncommon of a practice. Some of the levels will prove to be more significant than others:

 

The minimum deposit amounts for each coin:

 

The withdrawal limitations and fees:

 

Fiat situation not clear – while bank transfers are supported by this exchange, the terms aren’t that specified. We were expecting the company to be more oriented towards the Chinese market, given the fact they are based in Hong Kong, but this isn’t the case. USD trading and banking are supported, but it isn’t obvious if we are dealing with Tether or real dollars.

 

 

Leverage is not provided – a relatively small number of exchanges bother with the work required to set-up this system. On the other hand, trading with CFDs is much easier for all the parties involved. 

 

>>Bitcoin CFD brokers<< 

 

This is a system, used by an ever growing number of forex brokers to facilitate crypto trading. In essence, when trading a CFD you will not be buying any coins, but only a “Contract for Difference” on them – a financial derivative, which only follows their price. This may not be suitable for long term HODL investing, but is the way most people speculate with gold and oil. More details can be found here.

 

Conclusion

 

Coinsuper is a Hong Kong based cryptocurrency exchange which accepts USD bank transfers. The trading environment and fees seem decent, but the minimum deposit of 0.01 BTC may stop a lot of people from entering the platform through Bitcoin. 

 

That being said, our biggest concern with this exchange will have to be the fact there simply isn’t that much information on them. Credibility can only be earned with time in the unregulated world of cryptocurrencies, but this isn’t the case with forex brokers. Check the link below to learn more about a more ssecure way to trade Bitcoin.

 

>>Regulated Bitcoin forex brokers<<

 

Here is a summary of this review:

 

Pros Cons
Two-factor authentication (2FA) Not much company background
USD banking Established in 2017
No charges on deposits A lot of minimum requirements
Low trading fees Fiat situation not clear
Focus on the major coins Leverage is not provided
Solid platform  
Few, but mostly positive reviews  

 

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Traders` reviews for Coinsuper

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