coinone

coinone Overview

Coinone is a cryptocurrency exchange based in South Korea which founded in 2014. Its a platform where you can buy and sell virtual assets such as Bitcoin and Ethereu. It offers a diverse portfolio of 190 cryptocurrencies including BTC, ETH. While providing a user-friendly interface and options to fund accounts with Korean Won (KRW) and various cryptocurrencies, Coinone's lack of regulation can raise concerns for users.

Pros & Cons

Security

coinone has implemented several security measures to enhance the safety of its platform and user funds.

Target/stop loss

Coinone employs target and stop-loss orders as essential security measures for traders, enabling them to automatically lock in profits or limit potential losses by executing trades at predetermined price levels without constant monitoring.

Layered security policies and systems

Coinone enforces layered security policies and systems, establishing a robust defense framework that safeguards its platform and users' sensitive information from a diverse range of potential threats and unauthorized access.

Anti-money laundering system

Coinone implements an anti-money laundering system that operates at the financial sector level, effectively monitoring and detecting suspicious transactions to prevent illegal financial activities and ensure compliance with regulations.

Strict privacy policy

At Coinone, the implementation of a comprehensive privacy policy plays a pivotal role in fortifying their security measures. This policy is designed to safeguard the personal and financial information of their users, ensuring that sensitive data remains confidential and is not shared with unauthorized parties.

Cold storage

Coinone maintains 85% cold wallet storage to store cryptocurrencies offline. This method significantly reduces the risk of digital theft from hacking as assets in cold storage are not accessible via the internet. It is considered as one of the safest ways to hold cryptocurrencies.

Coinone App

Coinone's mobile application is widely accessible as it is available on both iOS and Android operating systems. This allows users to seamlessly manage their digital assets from any location at any time, right through their smartphones. The app embodies the full range of Coinone's services, supporting trading, account management, security settings, and more.

This cross-platform availability, coupled with a comprehensive set of functionalities, makes Coinone's app a convenient tool for traders who prefer managing their transactions through their mobile devices.

How to Open an Account？

To open an account with Coinone, you would follow these steps:

- Visit the Coinone website or download the Coinone app on your iOS or Android device.

- Click on the 'Sign Up' button on the top right corner of the website or in the app's menu.

- You will be asked to provide your email, create a password, and agree to the terms and conditions.

- A verification link will be sent to your provided email. Click on that link to verify your email address.

- After verification, you will be asked to provide additional information to complete the registration process like personal details, contact information, and a form of identification for KYC (Know Your Customer) procedures.

- Once these steps are completed and approved, your account is set up. You can now deposit funds and start trading.

Always ensure you apply all necessary security measures, like enabling two-factor authentication to protect your account.

Fees

Coinone implements an equitable 0.2% transaction fee structure for both makers and takers. This means that regardless of whether you are placing an order that is immediately matched with an existing one (taker) or an order that goes to the order book waiting for a match (maker), your fee will be the same – 0.2%.

This clear, uniform fee structure makes understanding the cost of transactions straightforward, without the worry of differential rates. You should bear in mind that these costs can impact the overall profitability of trades, especially those of high volumes.

Compare to Other Cryptocurrency Exchanges