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CoinSmart Review & Rating 2022

CoinSmart Review & Rating 2022

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CoinSmart is a cryptocurrency exchange that allows you to buy, sell and trade cryptocurrencies in the easiest way possible. They are one of the fastest growing crypto exchanges in the world and have just launched their new platform for users to trade various cryptocurrencies including but not limited to Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP) and more.

What is CoinSmart?

CoinSmart is a cryptocurrency exchange that allows you to buy and sell cryptocurrencies. It currently supports Bitcoin, Ethereum, Litecoin and Vechain. The platform aims to provide a secure, safe and easy way for people to buy cryptocurrencies.

CoinSmart uses the same technology as other exchanges but it has some unique features such as its own wallet (Crypto Wallet) which allows users to store their funds securely in one place instead of having multiple accounts on different platforms.

How does CoinSmart work?

CoinSmart is a crypto exchange that offers a wide range of coins and tokens. It's unique in that it allows you to trade cryptocurrency on the go, without having to log into your computer and use an internet browser. You can also use the app for other functions like viewing your portfolio or checking real-time market prices and trends.

When using CoinSmart, you'll first need to set up an account by entering some basic information including your name, email address, country of residence and social security number (this will allow them to verify your identity). Once you've entered this information into their system, they'll send over an activation link via email which will allow them access into one of their mobile apps for either Apple or Android systems - there's currently no web version available yet but we're told it's coming soon!

How To Open CoinSmart Crypto Exchange Account

To open a CoinSmart crypto exchange account, you need to visit the CoinSmart website. Click on the “Sign Up” button and enter your email address, password and your username. Confirm your email address by clicking on the link sent to it. Next, enter your mobile number and country in which you reside. This step is mandatory as this information determines if you can trade or not on this platform.

Next, fill out the required details such as name, date of birth, PAN card number (if applicable), address proof etc., which are needed for KYC purposes. Once everything has been filled out correctly and submitted successfully; an activation link will be sent at your registered email id along with additional verification instructions so that they can verify that it's actually someone signing up for an account instead of just anyone who knows how to type in some random numbers (which could be used by hackers).

Overview

Products and Features
8/10
User Interface (UI)
8/10
Trust/Reputation
9/10
Fees
8/10
Liquidity
9/10
Regulation and Fund Security
9/10
Deposits and Withdrawals
9/10
Customer Support
9/10

Products and Features

8/10

CoinSmart exchange has a wide range of products and services that allow their users to trade cryptocurrencies in a secure environment.

  • The platform provides users with the ability to buy and sell their assets in different ways, such as through instant purchase or limit orders.
  • CoinSmart also offers its users margin trading, which allows them to increase their exposure by borrowing funds from other users on the platform. This means they can use leverage while trading crypto assets.
  • The CoinSmart exchange supports numerous pairs including BTC/USD, BCH/USD and ETH/USDC.

User Interface (UI)

8/10

The user interface is quite simple and easy to navigate. The website has a clean look, with the focus on the most important parts of the platform: deposits, withdrawals, and trading. The homepage shows you a list of coins that can be traded along with their current prices and volume. You’ll also be able to see your balance, order books, trade history as well as an option to sign up/login if you’re already registered.

The trading page provides an interface for buying or selling cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) etc., all of which can be done through one-click buttons on this page.

Trust/Reputation

9/10

CoinSmart is a new cryptocurrency exchange that is still in its early days. They are a new exchange, so they are not as well-known as the big players. You’ll want to do some research before depositing your funds into CoinSmart, since they don’t have a proven track record yet.

While CoinSmart has made attempts at creating a secure platform and offering industry-leading customer service, it hasn't been around long enough to establish itself as anything more than an upstart company trying hard to make a name for itself among other exchanges with similar goals and offerings.

If you're willing to take on some risk in order to get in on what could become an exciting new cryptocurrency exchange that might just steal some business from Coinbase or Kraken someday, then feel free go ahead and try them out!

Can you make money with them?

The goal of any cryptocurrency is to make money, and CoinSmart is no exception. But how can you make money with CoinSmart?

  • Be Patient: There are some days where nothing will happen and it feels like your investment is just sitting there doing nothing. Don’t panic; this happens to everyone! You have to wait until a bull market comes along before your investment will start growing again.
  • Be Smart: Investing in cryptocurrency isn’t easy, but there are ways of increasing your chances for success by using the right strategies. One way is by using mining pools for mining transactions instead of solo mining (which means working alone). Another way is by choosing coins that have potential for growth over time, not just now but in the future as well, and staying away from coins that aren’t likely to grow much or at all over time due to faulty development plans or lack thereof.

Fees

8/10

While the 0.2% trading fee is comparable to other exchanges, there are some other fees you should be aware of. Coinsmart charges a 0.2% withdrawal fee on all trades, which means that if you make $500 worth of trades and withdraw $500, your total fees will come out to a little more than $6 (0.2% x 2). If you're only withdrawing money once in awhile, this isn't too much of an issue, but it can add up over time if you're constantly making withdrawals from your account without depositing anything back in again!

Also note that Coinsmart does not charge any fees when users deposit cryptocurrency into their wallets; however, there may be small transfer fees from the network which vary based on how long it takes for miners to confirm transactions with each block found on Bitcoin's blockchain network. This also applies for Airdrops: if someone wants their tokens sent directly into their wallet then they will pay no transaction costs but will still have their coins confirmed by miners within 24 hours or less depending on how many blocks exist between them (for example: 5-10 days).

Liquidity

9/10

Liquidity is the measure of how easily you can sell an asset. Liquidity is important because it determines how fast you will be able to convert your assets into cash. A low-liquidity exchange provides fewer people buying and selling at any given time, meaning that your orders may take longer than expected to execute, or they may get filled at a lower price than normal.

In general, liquidity on a crypto exchange is lower than traditional stock exchanges because there are fewer participants in this space compared to other markets like forex or stocks/bonds/commodities. If you want more information about how to trade on these lesser-known exchanges (and make sure your investments are protected), check out our guide on buying Bitcoin from abroad.

Deposits and Withdrawals

9/10

To make a deposit, you must be a verified member and have an active account. You must also have the funds in your CoinSmart account. If you do not have an active account or the funds in your CoinSmart account, then you cannot make a deposit.

When making a deposit a hot wallet is connected to the internet while a cold storage wallet is not connected at all and has no access to the internet. Hot wallets are also referred as “online” or “connected” while cold storage wallets are known as “offline” or “unplugged” because they lack web access capabilities entirely.

In order for us to process deposits correctly into our system, please ensure that any addresses used during transfer are valid (public keys) so we can complete them successfully.

How do I withdraw funds from CoinSmart?

To withdraw funds from CoinSmart, follow these steps:

  • Click the Withdraw button on your dashboard.
  • Select the cryptocurrency you would like to withdraw and enter the amount of funds you wish to withdraw in either crypto or fiat currencies. You can also decide whether or not to add a fee for this transfer. A fee is optional, but it will help speed up the time it takes for your transaction to process and be completed.
  • Provide your wallet address (if withdrawing BTC) or destination address (if withdrawing another cryptocurrency), then click Request Withdrawal.

What types of coins or tokens can I deposit at CoinSmart?

CoinSmart supports over 100 cryptocurrencies. The list of supported coins/tokens are:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • XRP (XRP)
  • Litecoin (LTC)
  • Bitcoin Cash ABC-Bitcoin Cash SV (BCHABC, BCHABCSV)
  • EOS (EOS)
  • Stellar Lumens (XLM), XLM Airdrop only

The following pairs are currently available too: BTC/USD, ETH/USD, XRP/USD and LTC/USD. All deposits made on CoinSmart will be credited to your CoinSmart account in either USD or local currency depending on your preferred currency settings.

What fees does CoinSmart charge for my deposits and withdrawals?

CoinSmart doesn’t charge any fees for depositing cryptocurrencies onto your account. However, CoinSmart does charge a flat fee of $2 when you withdraw cryptocurrency from your account.

For example, if you make a deposit of $100 worth of Ethereum (ETH) and then later decide to withdraw that same amount, CoinSmart will not charge any additional fees beyond the standard withdrawal fee.

How long does it take for me to receive my funds after making a withdrawal?

It depends on the coin you are withdrawing and where you are withdrawing it to. For example, if you made a withdrawal of Bitcoin, it would take anywhere from 5-15 minutes to receive your funds. That's because Bitcoin is one of the most popular cryptocurrencies and it is widely used by many exchanges and websites worldwide.

On top of that, if you wanted to withdraw USDT (Tether) instead of Bitcoin, then it would take longer since USDT isn't as widespread as other coins like BTC or ETH for example.

You can easily deposit and withdraw funds at CoinSmart.

CoinSmart is a good choice for beginner traders to get started with cryptocurrencies. It has low fees, a wide variety of coins and tokens, and is user-friendly.

Customer Support

9/10

Customer support is another area where CoinSmart excels. You can get help with your account via live chat, email, phone and social media.

There’s also an extensive FAQ section on the website that covers most queries when it comes to trading.

Conclusions

The CoinSmart website is well-designed and easy to navigate. CoinSmart is a great way to get started with cryptocurrency. The platform makes it easy and secure to deposit and withdraw funds, which means you can focus on trading without worrying about your coins. We hope this review by AtoZ team has helped you understand how CoinSmart works and feel confident using their service! Happy trading!

Reviewed By

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