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Cointal Review - is it scam or safe?

Cointal Review - is cointal.com scam or good cryptocurrency exchange?

RATING: 2.8 / 2 REVIEWS Cointal

RECOMMENDED BITCOIN BROKERS


 

Trading Accounts and Conditions

 

Account type

Buy

Sell

Deposit

Withdraw

Standard

free

1.00%

free

1.00%


The Coin Portal (Cointal) is an entry-level cryptocurrency service that uses a peer to peer (P2P) system. Its users can buy and selling Bitcoin, and several altcoins via wide range of payment methods. Besides, they are able to deposit and withdraw in almost any fiat currency.


The company is incorporated in the United Kingdom, but Cointal’s services are available globally.




Cointal Advantages


Multiple fiat currencies and payment methods

One of the most obvious advantages of Cointal is its accessibility and ease of use. This is due to the fact the platform's users are able to deposit and withdraw in in almost any fiat currency and payment method imaginable (including popular and convenient payments such as PayPal, Credit Cards, Bank transfer, Skrill, etc.).


The multiple payment methods available are typical of the P2P exchanges, as most of the times, they are defined by the users themselves.


Competitive fees

Cointal’s fees are not high, compared to other P2P exchanges where trading can become quite pricey. Deposits and purchases free, while sales and withdrawals out of the exchange are charged 1%.


Relatively nice platform

The web trading interface of Cointal is very intuitive. Once you open an account, you either go through the offers posted on the platform by other users, or, in case neither of them suits you, create an offer yourself. Mobile app is also available, but unfortunately there is no charting whatsoever.


 


Click on the images to zoom in.


Escrow & Security

Cointal offers holding funds in escrow, while the payments are confirmed. This is done for the security of the sellers. The escrow service is multi-signature and is based on the blockchain, i.e. is public.


Besides, Cointal does not store client funds, so the risk of getting hacked is almost non-existent. The exchange itself employs the standard two-factor authentication for security reasons.


Wallet and insurance

Thanks to their partnership with BitGo Platform, Cointal offers an all-in-one wallet made available once a user signes up on the platform.


In addition, the people registered on the site get free insurance. This means that if a user beciomes a victim of a scam on the platform, the Cointal staff will issue them a refund.


ID verification not required, no trade limits

Another thing we like about Cointal is that you can trade anonymously and there are no trade limits. However, some users can choose to only deal with verified accounts for example, which would make many offers invisible.




Cointal Disadvantages


Only 5 coins listed

There are five digital assets listed on Cointal: Bitcoin, Bitcoin Cash, Ethereum, Ripple and Litecoin. Such crypto offering is rather limited, but keep in mind that this is an entry level exchange. Besides, a number of other P2P exchanges offer trading only against Bitcoin.


No coin-to-coin trading

Basically, users of Cointal can either buy or sell cryptocurrencies. They cannot exchange Bitcoin for Ethereum or another coin, although there are several altcoins listed on the platform.


Transaction fees not specified

As we mentioned in the Advantages section, this exchange supports a plethora of payment methods. However, these usually involve transfer fees, and such are not specified on the website of the company. This means that its clients are not able to calculate in advance their trading costs.


No margin trading

For the P2P platforms like Cointal, leveraged trading is actually quite impossible, as trading is done between private individuals. If you need some leverage, there are quite a few forex brokers who offer margin trading in crypto CFDs .

 


>>Trading Bitcoin with margin<<



That being said, there are a lot of differences between the two types of trading. Please refer to our guide for further details.


Platform with no charting

While the web-based platform offered by Cointal is nice and easy to use, it lacks many of the professional features of some more advanced exchanges. More specifically, it has no charting whatsoever.



Conclusion


Cointal is a cryptocurrency P2P marketplace that is mostly intended for newcomers in the crypto-world. It supports several coins and wide range of fiat currencies.


The exchange is owned and operated by Coinket ltd, a UK-based company, which is not licensed, nor overseen by any authority. If you would rather trade with a regulated entity, we remind you of the option to do that with forex brokers. Below, you can find a lst of them who offer trading in Bitcoin and are properly regulated.


>> Reliable Bitcoin forex brokers <<


To summarize our recap of Cointal:


Pros

Cons

Multiple fiat currencies and payment methods

Only 5 coins listed

Competitive fees

No coin-to-coin trading

Relatively nice platform

Transaction fees not specified

Escrow & Security

No margin trading

Wallet and insurance

Platform with no charting

ID verification not required, no trade limits

 


 

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Traders` reviews for Cointal

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

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Scammers

They are scammers! Too many info about them on reddit!
I can sell site owner address and phone number ( he lives in Morocco ).
@ukraineoffender telegram

Nick 07/29/2018

Scam site

Cointal is a scam. I know over 20 people who have been scammed, myself included.

Over a million dollars stolen and counting.

Yaqoob Jamal 07/14/2018
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