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CoinHub Review - is it scam or safe?

CryptoHub Review - is cryptohub.online scam or good cryptocurrency exchange?

RATING: 2.8 / 0 REVIEWS CoinHub

RECOMMENDED BITCOIN BROKERS


 

Trading Accounts & Conditions

 

Account type

Min. order

Trading fee

Withdrawal fee

Standard

1000 sat

0.10%

0.10%

 

CryptoHub is an exchange that offers trading in wide range of altcoins against Bitcoin. In fact, it seems that CoinHub specializes in small market cap coins, which most other exchanges haven’t listed. Besides, CryptoHub website has some extra features which many crypto investors may find useful. Read the details below.


Like most exchanges, CryptoHub offers a single account type with no option for leveraged trading and charges market taker/maker and withdrawal fees, while deposits are free. It uses Two-factor authentication (2FA), which significantly reduces the change of your account being hacked.

 

 

CryptoHub Advantages

 

Low trading tees

Trading at CryptoHub is low-cost: both market makers and takers (those who place orders in the book, as well as those who “hit” them) are charged with 0.10% per trade.

 

Keep in mind that withdrawal fees also apply, depending on the digital coin you choose to deposit or withdraw.

 

Wide range of altcoins listed

Apart from Bitcoin, Litecoin, Doge, Zcash and Waves, at the CryptoHub exchange one can trade in a large number of exotic altcoins, some of which are listed solely on this exchange. Actually, the most actively traded pairs on this exchange are JIYO/BTC, and XLR/BTC, among others.

 

However, Ethereum and other popular coins are not available for trade here.

 

Additional features

CryptoHub website also offers some additional features which are cool: built-in mining concept, built-in API's for merchant payments and faucets and Proof-of-stake (PoS) rewards.

 

Relatively nice platform

The web platform provided by CryptoHub leaves a good overall impression. It seems like a perfectly functional cryptocurrency trading place, with an order book, trading history, chatbox, tweets, as well as a Predictions feature.

 

The charting is quite basic, bout most crypto-trading platforms don’t offer advanced tools like the ones on the popular forex trading platform MetaTrader. Here is a screenshot of the platform:

 

 

CryptoHub's platform. Click on the image to zoom-in.



CryptoHub Disadvantages

 

Unknown company background

We could not find any information on the company owning and operating the CryptoHub exchange on its website, which is not that uncommon in the crypto-verse, but is still disturbing. After all, investors have the right to know where are they trading their coins.

 

Our research revealed that the exchange is founded by a person with rather good reputation in the crypto community who presents himself as “an independent Russian developer”.

 

High withdrawal fees

Cryptocyrrency deposits at CryptoHub are free, however users have to pay pretty salty withdrawal fees, amounting to 0.10%. This is very high, especially if users withdraw their Bitcoins. By comparison, other exchanges charge 0.0001BTC per withdrawal.

 

Minimum deposit and trade size set

CryptoHub has minimal amounts of deposits set in order to protect the exchange from spam-transactions. It also has set a minimal order size of 1000 sat. 1 satoshi equals 0.00000001 BTC and is the smallest unit of the bitcoin currency recorded on the block chain.

 

These are not major disadvantage of CryptoHub, yet they represent some sort of restrictions to users.

 

Trading only against BTC

CryptoHub has one base cryptocvurrency, and that is Bitcoin. This means that the other digital assets listed on the exchange cannot be freely traded against one another. The good news is that CryptoHub announced plans to add WAVES market pairs.

 

No Ethereum, ERC-20 tokens, Ripple, Stellar, Cardano and more

Yet another weak side of CryptoHub’s offering is that one cannot trade in popular assets such as Ethereum, Ripple, Stellar, Cardano and more. They are not listed on the exchange.

 

No fiat currencies

Obviously, CryptoHub does not work with fiat currencies, which means that if the client wants to cash in in “real money”, he must withdraw his coins to another wallet and convert it into a fiat currency.

 

Low trading volumes on many pairs

It seems that trading volumes on many pairs at CryptoHub are rather poor, which is means low liquidity. Taking into account that the exchange has listed many exotic coins, this is not surprising.

 

No leverage available

As we have mentioned in the beginning, trading with leverage is not available at CryptoHub. If you prefer trading on margin, you might find the offers of some forex brokers attractive. They always offer some leverage.

 

>>Trading Bitcoin with margin <<

 

That being said, trading cryptocurrencies with forex brokers is generally done in the form of CFDs, which differs significantly from dealing on a crypto-exchange. You can find more detailed information about it here.



Conclusion

 

Founded by a Russian developer, CryptoHub is a relatively small cryptocurrency exchange (in terms of trading volume). It has listed a lot of altcoins, yet some of the most popular ones are missing and trading is done only against BTC. Fiat currencies are also unavailable at CryptoHub, but it offers some nice extra features such as PoS rewards and some options for miners.

 

Another thing we lika about CryptoHub is its trading platform, as well as the low trading fees. Speaking of fees, those charged on withdrawals are pretty high.

 

Nonetheless, our main concern with regards to this exchange is the poor corporate presentation. This, together with the fact that CryptoHub, like most exchanges, is not regulated, lowers its level of credibility. That being said, we remind you that you can also trade in Bitcoin with forex brokers, some of which are a much safer option, as they are licensed and overseen by the respective governmental agencies.

 

 

>>Bitcoin trading with licensed brokers<<

 

 

 

Pros

Cons

Low trading fees

Poor corporate presentation

Relatively good trading platform

No fiat currencies, no leverage

Many altcoins offered

Trading only against BTC; No XRP, ETH, ERC-20 tokens

Additional features available

High withdrawal fees

 

Low trading volumes on many pairs

 

Minimum deposit and trade size set

 

 

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Traders` reviews for CoinHub

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