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CoinTiger Review - is it scam or safe?

CoinTiger Review - Is cointiger.com scam or safe cryptocurrency exchange?

RATING: 3.2 / 5 REVIEWS CoinTiger

RECOMMENDED BITCOIN BROKERS


Trading Accounts & Conditions

Account type
Leverage
Maker Fee Taker Fee Deposit Fee
Standard 1:1 0.10% 0.10% Crypto: Free


CoinTiger is a relatively new cryptocurrency exchange, established in Singapore. It has gained quite some traction in the few months of operation (around six months before the writing of this review).The company has some positive and negative aspects, which we will attempt to cover as objectively as possible.


CoinTiger Advantages


Listing the actual company –  CoinTiger names the legal entity which is behind it, as well as the address of their operation. This may sound like something very minor, but in the cryptocurrency space it actually brings a certain level of credibility, as some of the shadier elements don’t even go this far. That being said a bit more transparency will be appreciated.


2FA supported
– after registering an account at this exchange we were prompt to set up a two-factor authentication. This is a popular and nice security measure, which prevents someone who somehow obtains your password from accessing your account (they will also need your mobile phone).


Low trading fees – definitely one of the main attractions of this exchange, and probably the reason why volumes have picked up so rapidly. Market “makers” and “takers” are both charged 0.10%, compared to an industry average around 0.20-0.25%.


Open for consulting/cooperation
– CoinTiger has form, from where one contact them for a business enquiry. The willingness for cooperation suggests, the team behind the project is eager to work on something extra in the world of crypto, which means they have at least some experience. This is done through the “Labs” tab.


Solid trading platform
– trading at CoinTiger is facilitate through an relatively-decent interface. Charting is provided by TradingView and can be expanded to a full screen. The other fields are placed around it and while the order book is arranged vertically, experienced traders will feel at home soon. Here is a preview of the entire layout:



The way you trade at CoinTiger (click to zoom in)


Expanding list of coins – at the time of writing around twenty coin are supported at CoinTiger. Some of the more popular ones are (listed in order of trading volume): BTC, LTC, OMG, ETH, BCH, EOS, ETC, NEM, SNT, REP. They are traded against BTC, ETH and BitCNY.


CoinTiger Disadvantages


Limited information about them – while CoinTiger provides the name and address of their actual company, we didn’t manage to find much other information on them. Additionally not many third party websites cover them at this point in time and we basically didn’t find any user reviews. This may be explained with the fact, this is a very new exchange.


Fiat currency situation is unclear – the first time you enter CoinTiger’s website a “fiat” tab is present. After a few seconds, the system probably tracks your IP and if you are not based in a certain region (most likely China, given the support for BitCNY) it becomes unavailable. We are fine with this policy, but the fact it’s not stated in a clear manner is rather odd. That being said, if you are looking for a place to buy Bitcoin, you have a lot of options.


>>How to buy Bitcoin with a credit card<<


No leverage
– CoinTiger does not provide margin for the more aggressive traders. This is not surprising, as few exchanges do. On the other hand, forex brokers are experts in the field.


>>Bitcoin forex brokers<<


Some of them have started offering cryptocurrency CFDs, which allow one to trade with leverage (and even take short positions). This is very different than going at an actual exchange, so be sure to read our guide before venturing forth.


Withdrawal fees and minimums
– most exchanges nowadays have this policy. At least CoinTiger is honest enough to list it on the website and not leave a small trader stuck with them, because he didn’t know about the minimums. Here is a preview on the conditions for some of the popular coins:



Conclusion


CoinTiger is a new cryptocurrency exchange, based in Singapre. Unlike some other companies in the cryptoverse, they are not only focused on local clients. That being said, the situation with the “fiat” tab, which we covered is slightly odd. We gave the exchange this score, as it simply has to prove itself over the course of time, but we generally like what they have to offer.


Still, this is an altcoin focused project. If you are looking to only trade Bitcoin and perhaps throw in a little leverage, some forex brokers present an interesting alternative. We must mention they are only suitable for short term trading and that you should only be looking at highly regulated ones.


>>Bitcoin forex brokers under regulation<<


Here is a summary of the current state of CoinTiger:

Pros Cons
Listing the actual company Limited information about them
2FA supported Fiat currency situation is unclear
Low trading fees No leverage
Open for consulting/cooperation Withdrawal fees and minimums
Solid trading platform  
Expanding list of coins  

 

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Traders` reviews for CoinTiger

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Slippage

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Price feed

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Platform

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Summary

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Cointiger is a dodgy operator.

I sent some Kin token to Cointiger but forgot to add the memo with the transfer.
So i contacted support, providing a screenshot from my wallet showing the transaction to their address, and also provided the memo number i should have used, but they would not credit my account with the funds. Firstly they wanted to charge 25% of the transfer amount as a fee for helping me, then they demanded various kinds of video evidence to "prove" I am the actual user. I had trouble understand their ChEnglish and gave up pursuing the matter. Effectively they stole my funds.Thankfully it was not a large amount.
Be very wary using Cointiger!!

B. Bravenboer 07/29/2019

I feel your pain

I was pissed too and then saw your messages and it didn’t make me feel any better. I went back to the exchange and was able to withdraw my eth by erasing the last digits. It looked like this 0.0000 and I was able to receive my funds successfully.

Yodle 05/27/2019

Exchange won't let you withdraw

They won't let you withdraw and hold your crypto! Spoke to customer service and they showed me some bs image that was blurred out and showed nothing and said they cant help me to fix the problem. I got 20,000 usd stuck in this fake exchange

Dave 04/25/2019

SCAM EXCHANGE

SCAM Exchange they won't let you withdraw your funds. I tired to withdraw a ERC-20 Token and they said it was on a fake main net (this was a 100% lie). Moved the tokens to bitcoin and they said can not withdraw because of fake 4 decimal place rule, moved it to ethereum and another fake message! DO NOT USE THIS EXCHANGE

bob 04/15/2019

Exchange Fees

The section on transparency of trading fees is NOT correct.
CoinTiger advertise that a withdrawal limit is 2BTC. This is not true for altcoins/tokens as they have their own limits. Sometimes you will have to withdraw up to 6x to get to the KYC limit and therefore paying 6 times the full listed fees.
They have recently also hiked single withdrawal fees on some tokens 2.5x with absolutely no notice at all.
This practice has entrapped clients to endure the higher fees with no argument.
This means that a 2BTC withdrawal of a token could cost you up to 15x the listed fee at the time that you deposited.
BE VERY AWARE OF THIS ROGUE OPERATOR

Dave Jenkinson 03/10/2019
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