Coinmotion is a Finnish cryptocurrency exchange and trading platform that has been around since 2015. It is owned by Prasos Oy, a company that specializes in digital asset investments and services. Coinmotion is primarily focused on providing its customers with a secure and user-friendly platform to buy, sell, and store cryptocurrencies. In this review, we will take an in-depth look at Coinmotion's features and services and analyze how it stacks up against other cryptocurrency exchanges in the market.
User Interface and Ease of Use
Coinmotion has a clean and intuitive user interface that makes it easy for users to navigate the platform. The platform is available in multiple languages, including English, Finnish, Swedish, and Norwegian. The dashboard provides users with an overview of their portfolio, account balance, and recent transactions. The trading interface is also well-designed, with clear pricing information and an easy-to-use order book.
Coinmotion offers a variety of payment methods, including bank transfers, credit cards, and payment service providers like Trustly and Sofort. Deposits and withdrawals are processed quickly, and the platform has a 2-factor authentication system in place to ensure the security of user accounts. Coinmotion also has a mobile app for iOS and Android devices, allowing users to access their accounts on-the-go.
Cryptocurrency Offerings
Coinmotion supports a variety of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), and XRP. The platform also supports a number of lesser-known cryptocurrencies like Stellar (XLM), Dogecoin (DOGE), and Siacoin (SC). Users can buy and sell cryptocurrencies directly on the platform, with the option to set limit orders and stop-loss orders.
Coinmotion also offers a cryptocurrency wallet that allows users to store their digital assets securely. The platform uses multi-signature technology to protect user funds, and private keys are stored offline in cold storage to prevent hacking attempts. Coinmotion also has an insurance policy in place to cover any losses due to theft or hacking.
Fees and Limits
Coinmotion charges a 2% fee for buying and selling cryptocurrencies. The platform does not charge any deposit or withdrawal fees, except for a €1.50 fee for SEPA withdrawals. The minimum deposit amount is €10, and there is no maximum deposit limit. The minimum withdrawal amount is €20, and the maximum withdrawal limit is €10,000 per day.
Customer Support
Coinmotion has a dedicated customer support team that is available 24/7 to assist users with any issues or questions they may have. Users can contact customer support via email, live chat, or by submitting a support ticket on the platform's website. Coinmotion also has an extensive knowledge base and FAQ section on its website that provides answers to common questions.
Security
Coinmotion takes security seriously and has implemented several measures to protect user funds and personal information. The platform uses SSL encryption to secure user data, and all sensitive information is stored in an encrypted format. Coinmotion also uses multi-signature technology to protect user funds, and private keys are stored offline in cold storage to prevent hacking attempts. In addition, the platform has a 2-factor authentication system in place to ensure the security of user accounts.
Conclusion
Coinmotion is a reliable and user-friendly cryptocurrency exchange that offers a variety of digital assets for trading and investment. The platform's clean and intuitive interface makes it easy for users to navigate the platform, and its robust security measures ensure the safety of user funds and personal information.