Coinexchange.io is a virtual currency exchange that supports a variety of altcoins.
Novice crypto currency traders will find dozens of altcoins at coinexchange.io that they have never heard of. Their main goal is to offer a safe, and secure platform for trading various altcoins. Their operation seems legit at face value, but conversations on forums such as bitcointalk.org can reveal some negative reviews.
In reference to their product offerings, coinexchange.io doesn’t raise any red flags. They don’t exaggerate on their promises, offer crypto currency mining nor cloud mining schemes. Their “About Us” section is a bit disappointing though. It doesn’t provide the audience with details of the corporate entity behind the operation nor its licensing status. Instead, it highlights a useless list of goals and mission definitions. An operation that plans on becoming a leader in the online crypto currency market needs to highlight important owner details. Traders need to know the entity they are dealing with.
What Do They Offer?
Coinexchange.io can assist traders to acquire UFO coins, Antimatters, and Aspers. The operation’s portfolio features numerous crypto currency coins which have official Bitcoin exchange rates. But, when the crypto currency market witnesses an explosion of many different currencies, some problems are bound to crop up. For instance, some of the ICOs associated with the market will eventually go bust scamming some investors.
A good example is GMB (Gambleo). The ICO’s focus was to provide a currency that could be used for different online gambling, and sports betting functions. It has never been confirmed whether coinexchange.io were directly involved with the GMB fiasco. But some investors think otherwise.
Coinexchange.io withdrawal fees are some of the highest in the industry. They charge as high as 0.001 BTC yet most altcoins charge a much lower fee. You’re better off avoiding them if you are trading in smaller amounts.
One of the major drawbacks for this operation is that it’s completely anonymous. The website is registered under NameCheap.Inc. This doesn’t create a personal identity associated with the operator in any form. Such a scenario creates room for an eventual scam-exit, should the individuals behind it choose to make such a move.
Their domain is relatively new as it was registered in 2016. The domain authority score is 24/100 with a spam score of 2/17. According to Alexa.com, coinexchange.io is popular in the U.S with significant traffic in India, Italy, France, and Spain.
Most traders complain their customer support is terrible, as they don’t respond to email queries on time. For example, if you have a problem with your security answer, they may take ages to respond. There’re also incidences of users waiting for coins to reflect in their accounts taking over 38 hours. Such long waiting times has seen some traders label them as a scam.
Community discussions at bitcointalk.org show that not everyone agrees on where to place this operator. Some view them as a scam, others complain of the high withdrawal fees, while a few are content with their services. From the above analysis, it’s obvious that all is not well with coinexchange.io. When an operator ticks the wrong boxes frequently, it’s advisable for traders to diversify or shift entirely their portfolio to avoid losses in future.