Cobinhood is the brainchild of founder and CEO Popo Chen and co-founder Weu-Ning Huang. It's an online exchange platform for all manner of cryptocurrencies, and it can benefit you in a myriad of different ways. In the coming review, we're going to be examining every aspect of the platform, from its exchange rates to its infrastructure.
There are many noteworthy aspects of Cobinhood's business model that helps separate the service from the rest of the pack. It is one of the only available exchange platforms that offers a zero-fees business model, for one.
Other factors include Huang's lifetime of experience in management and software engineering through his work with corporate giants like Google and Apple. With that out of the way, let's get into the meat of this review.
One of the best parts of this system is how intuitive and easy it is to use. Similar platforms often hide essential features and functions behind yellow tape and time-based stipulations, so seeing an open-source platform like Cobinhood deliver such a remarkable user experience is refreshing, to say the least. Let's break down some of the more crucial elements of the account-creation process.
Account creation is an extremely simple process. In our time with the platform, we ran into no issues and very few hassles while trying to set up an account. The expedient and fast-paced nature of the account creation process kept us enthused and excited to see what the rest of the platform had to offer. And because we finished so quickly, we didn't have to wait long to find out.
That isn't to say that Cobinhood's account setup process isn't secure or legitimate, however. On the contrary, the service requires all of the standard verification pieces used by other online platforms.
You will still need to verify your email address, authenticate your identity, and provide your SSN once you begin trading.
But the process is so intuitive and well-designed that it feels like a much more natural process that it is with competitors.
The dashboard is yet another impressive aspect of Cobinhood's selection of UX-oriented offerings. It's easy to reference in a pinch, but it's also stored out of sight when it isn't in use. This makes navigating the site a breeze and helps you go from menu to menu without losing your sense of place within the broader scale of the webpage. It feels very premium.
The dashboard is organized into a few different sections—account, funds, and help center. These different tabs contain all of the service's more vital functionalities.
Funds is where you manage your cryptocurrencies and Cobinhood wallet.
The account section is where you manage all of the different personalized aspects of the Cobinhood exchange experience.
And lastly, the Help Center offers a number of useful tips on how to use Cobinhood. Overall, the user experience offered by the dashboard is one of the highlights of this review.
The Market Orders section is where you will enjoy the majority of the website's utility-based functions.
Here, you can make quick purchases or sales with any available Cobinhood cryptocurrency. When doing so, you will be able to see the per-item price and the order's total at every step along the way. Even better, the platform fills these orders immediately after they have been processed. On the upside, this means you won't need to wait to see the benefits of your trade. On the downside, it also means you can't cancel a trade that has already been posted to the market. Take care when finalizing your deals!
There are also numerous flexibility options available. Limit orders are one such function, as it allows you to set both the price and the terms for any given deal. So long as the buyer accepts the parameters you have set, Cobinhood enables you to have full control over your trading experience, which is an enormous benefit for the service.
Here is what may be one of the most important sections for many readers—our Cobinhood exchange review. All of the previous features we have mentioned are all well and good, but they mean very little if they aren't paired with equally phenomenal exchange rates. Luckily, exchange system delivers here as well. Let's find out how.
First up is the Cobinhood wallet. The wallet allows you to store, customize, and access numerous cryptocurrencies. Available cryptocurrencies range from hugely popular options, like bitcoin, to lesser-known currencies like Sia Coin and Light Coin. The supported cryptocurrencies are impressive, to say the least. This section proves Cobinhood's status as an immensely flexible trading platform.
One of the best parts of trading with Cobinhood is the lack of any trading fees. That remains true whether you're the buyer or the seller, which is extremely impressive. As great as that is, it, unfortunately, does not apply to deposits and withdrawals. This could have been a service-seller, but currently, it's a missed opportunity. Likewise, you will still need to pay the fees for your Blockchain of choice.
The benefit here is that the total cost of your transaction is relative to its overall size. So if you're depositing a large amount, you will enjoy a fee that is much lower than what other services offer. And if you want to make a smaller scale trade, you will be paying rates that are still a bargain when compared to industry trends.
Overall, this is yet another area where Cobinhood impresses.
Cobinhood supports lots of cryptocurrencies. There are offer 60 available on the platform, in fact. Some popular examples include Ethereum, Bitcoin Cash, Neo, OmiseGo, and more. Odds are, no matter which crypto you're working with, you can trade it effortlessly on Cobinhood.
System has very few transfer limits relative to the rest of the industry. There are some Level 1 verification restrictions which only allow you to withdraw 3BTC per day, but every proceeding limit becomes less and less restrictive. For example, VIP access, which is only the third level, has no limits whatsoever.
This means you can make the most of Cobinhood after only a few weeks trading actively on the platform. It should be noted, however, that level 2 will require ID, phone number, and your SSN. Be prepared for this once you start moving up on the platform.
When asking "What is Cobinhood," one needs to bring up security. The world of cryptocurrencies is as volatile as it is exciting, and as such, you need to know that your platform of choice has you covered when it comes to securing all of your hard-earned cryptos. Luckily, Cobinhood does just that.
The service uses SSL, multi-sig, and 2FA security protocols to ensure that your currencies are kept under tight lock and key. Likewise, for anyone to have access to your offline wallet, they need to have at least 5 of the available HSMs for your account. This means that it's virtually impossible for someone to break into your account without your knowledge. Ultimately, security is yet another high point for this Cobinhood review.
Cobinhood offers an exceptional customer-support experience. Responses are quick and actionable, and the staff is amiable and welcoming. Overall, Cobinhood's support is exemplary for this kind of service.
And lastly, our Cobinhood ICO review. ICOs are one of the most important aspects in modern cryptocurrency trades, and Cobinhood delivers in this department as well. The service helps immensely in carrying out and ensuring the legitimacy of all manner of large-scale projects.
No matter the stage of your white paper, the Cobinhood ICO functionalities are first rate.
To wrap things up, we strongly feel that Cobinhood is one of the best online cryptocurrency exchange platforms currently available.
You owe it to yourself to try it out at your earliest opportunity—you won't regret it.
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