You may have heard of Coinmerce, which was founded in the Netherlands only a few years ago. Actually, it was 2017 and the company had the same focus then as they do now, getting new cryptocurrencies enthusiasts to become professionals. The platform is designed so that anyone can use it, at any time, and from anywhere. On top of that, they do it all by following their own principles of integrity, accessibility, feeling, no regrets, innovation, and clarity. Together, these core principles help them to create a system that is used by a growing clientele.
What They Offer
First, let’s take a look at just what you get when you work with Coinmerce. This system is a multi-currency crypto platform that allows users to buy and sell with ease. It provides over 140 different cryptocurrencies, which means that you have the ability to get involved with some of the top options as well as some of the lesser-known options. This gives you a chance to try to get in on the ground floor when it comes to currencies. And even better, the company is focused on making the whole process as easy as possible.
They offer an all-in-one smartphone app that lets you explore everything while you’re on the go as well as the fully functional online system that lets you access all of your information while you’re still with your computer. That makes it easier for you to access and to keep up on trades as well as checking in with learning and more while you’re on the go. The app is completely free and doesn’t require wallet software, which is a great option for those who are getting started and want to keep things all in-house.
All New Features
One of the best things you’ll find with Coinmerce is their all-new design. The company started out with a pretty good system and a good overall design, but with a focus on the people doing the trading, they started looking into some new options and have actually revamped the system. It’s now entirely UX-focused and that’s going to make things even easier than ever for you. After all, Coinmerce has definitely figured out that their users are the ones who need to be happy with the way the whole thing works rather than just setting it up as a ‘one and done’ kind of thing.
The website was actually re-designed in October of 2020, which means it’s a brand-new update that’s definitely going to give you something to talk about. It looks a whole lot better, which is a bonus on its own. But the most important part is that this platform is now even easier to use. It was always designed to work well for beginners and those with little to no knowledge about the platform, but now it does that even better. It has optimized the user journey to make sure you can get from start to finish with no questions.
They found that a lot of people still had questions and a learning curve when they started out with the program and that’s why they wanted to make it easier. The system is actually now designed to show you exactly what you need to do and how you need to do it. That way if you’re new and you don’t know how to get started you can still jump right in. Getting from one step to the next is laid out for you and much easier to follow along with, but you will still be able to do all of the same things that you could before so none of the functionality is gone.
What’s even better is that you’re going to get even more data, furthermore, the charts and data are easier to read than they were before. Now, when they first started out, Coinmerce wanted to make sure that beginners and those with no prior knowledge on cryptocurrency could take part and enjoy the process, but they have still continued to look for ways to do that even better. For those just getting started in this type of platform, it can be difficult to understand all the data and make the right decisions, which is why Coinmerce made it easier.
They felt that their system was a little bit too technical for new users because of all the details and they used to provide. For the new system, they’ve designed a way that is less complex but still gives the information that users want to know. Plus there are some additional features that allow for personalized settings and even confirmations and notifications to make sure that everyone gets the information they want, when they want it. Like information about price updates for currencies that you own or for the platform overall and all the currencies that they offer.
On top of all of this, they’ve created a new dashboard that allows users to access their information in one simple spot. There’s no more tracking all over the website to find the holdings, rewards or other things you need to know about what you own. Instead, it’s all laid out easily for you in one location. You can go to that one page and see all of the information in an overview. That way you can make the right decisions for your account without flipping back and forth or having to search for more information.
While a lot of companies for trading cryptocurrency do have apps, Coinmerce is one of the first to have the app practically from the very beginning. And they make that app extremely easy to use. Rather than focusing primarily on their web platform and making the app secondary, the service has made both of these services a priority and ensures that users are able to access anything and everything that they need from both places. This is important in keeping users engaged and making sure that you never miss out on something if there’s a big change in the market.
Buying Your Currency
When you’re ready to buy currency it’s actually very simple. You visit the platform to access your account. Then, you select the currency you want to purchase and how much. When you select the ‘buy’ option you’ll be taken to a page where you can see what you already have and what you would like to use to purchase the new currency. From there you’ll be able to see how many euros those coins will cost. Or you can swap it out and choose the number of euros you want to spend and it will tell you how many coins you get. You can then finish the transaction and you’re done.
The team is working hard to provide you with all the featured possibilities that you’ll possibly need on one platform. Recently they announced Coin2Coin — which is available under swap.
Selling Your Currency
When it comes to selling currency you can do a very similar transaction in reverse. You select the currency that you want to sell and how much you want to sell and it will tell you how many euros you will get. Or you select the number of euros you want and it will tell you how many coins you will need to sell. When you confirm that you want to sell you’re done. Even better, you can sell a currency that you’ve purchased directly in the app or currency that you’ve deposited into your account.
Smart Order System
Another tech-feature that separates this platform from the current competitors is that Coinmerce is connected to other exchanges in the market. With the Smart Order technique, they efficiently allocate orders from users across different exchanges, at the same time as searching for the best rates available.
The Smart Order System is programmed to get the “best rate per order”, by connecting with several exchanges around the world, creating a huge “liquidity network”.
When you place an order, this order is sliced up into smaller orders. These smaller orders are allocated through the network and then executed for the best rates across the exchanges they are linked to. This way you buy or sell your assets for the best prices available on the market.
Paying and Getting Paid
When it comes to paying for your currencies you can use several different methods including iDEAL, SEPA Bank Transfer, SOFORT, Bancontact, EPS, MyBank, or a credit card. Each of these has their own fees attached except for SEPA Bank Transfer, which is free. It’s up to you to set up your own accounts with these payment methods to take care of your transactions. When you’re ready to cash out your account you can easily select a payout and the money will be deposited into your account within a few days.
Proving Your Identity
As a transparent, compliant and soon regulated company, Coinmerce is required to identify all the user. Coinmerce takes user identity very seriously and they do this for your projection as well. So, if you want to get started you can verify your account by providing an government issued identification document and a selfie.
This makes sure that no one else is accessing your account or attempting to increase the limits beyond what you are comfortable with. It can also keep you from spending more than you think. As a verified user you are able to trade €20.000 a day or €60.000 a week.
There’s also pro-level. With this level, you’re going to have nearly complete control over how much you’re able to trade, but you need to set up a call with the Coinmerce support team. You will talk to them about verifying your identity and then you will be able to work with them to set the limit you want for your account.
Fees and Costs
You will have to pay some fees and additional costs to trade, buy and sell with Coinmerce, just as you would with any other service. Signing up for your account is completely free so you can create one and take a look around if you like before you start investing.
Service fees and costs are generally between 0.40% and 2.5%, depending on factors such as volume of the coin (on different exchanges), order books of the coin (on different exchanges), the volatility of the coin (on different exchanges) and order size. The payment method that you use will also have a fee attached to it, so it’s important to look at all of these charges when you’re going to make a transaction. That way you will know just what you’re going to profit and what you’re going to be charged. On the other hand, you’ll be able to pay out your account balance or any portion of it through a bank transfer entirely free. You can withdraw your money at any time.
Safety and Coming Soon
Overall, the system definitely does seem to be secure and offers additional security features like two-factor authentication and the different levels of restrictions depending on your identity information. As for features that are coming soon, they’re looking to provide two more native apps (expected this year) as well as adding different types of cryptocurrencies to deposit that are currently not available. The platform is always looking to improve their offerings and provide the services and features that their users are looking for most. This is making them a force to be reckoned with in the cryptocurrency space.
For those who are looking to get started, the new rollout and the new way of doing business is definitely a great thing to get involved with. You can absolutely learn more about the process and the step-by-step system will walk you through everything until you’re ready to do it on your own. This will make it a whole lot easier to understand what you’re doing and to take a closer look at the way cryptocurrency trading works in general. For users of the platform who have a little more advanced knowledge this new system still doesn’t get in the way of what you’re already working on yourself.
If you want to stay up-to-date with Coinmerce, then follow them on Facebook, Twitter, LinkedIn or Instagram.
You can also buy cryptocurrencies like BTC and Ethereum on Coinmerce. Or check out their learn page, if you are looking for more information about blockchain in general.
Everything You Need To Know About Coinmerce was originally published in The Capital on Medium, where people are continuing the conversation by highlighting and responding to this story.
Post fetched from this article