Is CoinMate a Good Crypto Exchange for Beginners?
It is important for novice cryptocurrency traders to choose the right crypto exchange. Not all companies can be used when you are just starting your path in trading, which is why the success in cryptocurrency trading depends on making the right choice. Beginners often wonder whether CoinMate is a good crypto exchange to start trading with. In this article you will learn whether CoinMate is good for beginners, what its pros and cons are and what a novice trader needs to know.
Short summary about the broker CoinMate
CoinMate is a cryptocurrency exchange that was registered in the Czech Republic in 2014. The platform is not limited to providing services to the EU residents, offering them to traders all around the world, who use euros or Czech korunas.
CoinMate offers its client access to buying 9 cryptocurrencies (including BTC, ETH, LTC) from a bank account, spot trading of digital assets, and also withdrawals in fiat or to crypto wallets. The exchange is designed for active trading and trading using your own money without leverage. The fees on CoinMate vary depending on your trading volume and the order type.
| 💰 Account currency: | EUR, CZK, BTC |
| 🚀 Minimum deposit: | 1 EUR, 25 CZK, 0.001 BTC |
| ⚖️ Leverage: | 1:1 |
| 💱 Spread: | 0%-0.3% (maker), 0.07%-0.35% (taker) |
| 🔧 Instruments: | BTC, BCH, LTC, ETH, ADA, XRP, DASH, SOL, DAI |
| 💹 Margin Call / Stop Out: | No |
CoinMate Pros and Cons
👍 Advantages of trading with CoinMate:
•The minimum deposit is only 0.001 BTC;
•The higher the trading volume the lower the fees;
•Zero fee on deposits in koruna (CZK) and cryptocurrencies;
•Zero fees for makers trading big amounts;
•Functional trading platform with TradingView charts;
•Referral program that allows you to earn passive income;
•Instant euro deposits with SOFORT.
👎 Disadvantages of CoinMate:
•Limited choice of cryptocurrencies compared to other international exchanges;
•No access to margin trading;
•Deposit and withdrawal of fiat money is possible only via a bank transfer.
What is a Good Crypto Exchange for Beginners?
In order to choose the right broker for a beginner, you need to consider several aspects.
Here are the main ones:
-
Education. It is important for novice crypto traders to learn how to trade. An exchange can offer educational courses, video tutorials, articles, webinars, etc. The more learning opportunities there are the better.
-
Availability of a demo account. You will need this account to practice. It provides an opportunity for a beginner to trade risk free and try out trading strategies.
-
Availability of a simple method to buy cryptocurrencies. An exchange service or a P2P exchange would be an advantage for an exchange.
-
Low fees. The level of income of the trader depends on the level of the fees. Therefore, it is important to choose a company that charges minimum fees. Crypto exchanges mostly use the Maker and Taker fee model. It is important that you study them.
-
Instruments for passive investing. In addition to active trading, passive income is also important for beginners. Pay attention to availability of copy trading or staking.
-
Trading platform. It is important for a novice trader to choose the simplest trading platform that will be easy-to-use for trading.
In addition to these factors, you also need to consider how customer support operates, as it will also be important. Bonuses for beginners are also a nice perk.
Trading Conditions for CoinMate Users
Before you start working with an exchange, it is important that you evaluate its trading conditions. CoinMate offers traders the following conditions.
| 💻 Trading platform: | Quick Crypto Trading, Advanced Trading |
| 📊 Accounts: | Demo, standard |
| 💰 Account currency: | EUR, CZK, BTC |
| 💵 Replenishment / Withdrawal: | cryptocurrencies, Wire Transfer, SEPA, SOFORT |
| 🚀 Minimum deposit: | 1 EUR, 25 CZK, 0.001 BTC |
| ⚖️ Leverage: | 1:1 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | from 0 |
| 💱 Spread: | 0%-0.3% (maker), 0.07%-0.35% (taker) |
| 🔧 Instruments: | BTC, BCH, LTC, ETH, ADA, XRP, DASH, SOL, DAI |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Using the browser on your smartphone, the exchange does not have mobile apps |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | Market, Limit (Hidden, Post only), Stop Limit (Hidden, Trailing, Post only), Quick |
| ⭐ Trading features: | USD and USDT are not available, lower fees for higher trading volumes |
| 🎁 Contests and bonuses: | No |
Commissions and Fees
The size of commissions and fees is also an important factor of choice. Traders Union analysts have prepared a short review of CoinMate commissions and fees. In this section, you will find trading fees of the exchange as well as withdrawal fees.
The fees for quick buy and sell of cryptocurrency are included in the exchange’s fee. For trading pairs, the fees are determined on the order type and 30-day trading volume. The basic fee is 0.3% (maker) and 0.35% (taker) for a 30-day trading volume of up to EUR 10,000. If a trader’s volume is higher, the maker fee is 0.0.15%, taker fee – 0.07-0.25%. No fee is charged on deposits in cryptocurrencies and Czech koruna via an internal bank transfer. Deposits via SEPA are charged with EUR 1 per transaction, SOFORT – 1.5%, but no less than EUR 2. Withdrawal fees are as follows: 0.00002-0.00032 BTC, 0.0004 LTC, 0.0030 ETH, bank transfer — 1 EUR.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | 1$ for maker 2$ for taker |
Withdrawal fee on withdrawal of fiat and cryptocurrencies |
Investment programs of CoinMate
It is important for novice traders not only to trade actively, but also earn passive income. Passive investing can help you earn extra profit, and also compensate for the losses you may incur as a result of active trading. CoinMate offers the following passive income options.
Investment Programs, Available Markets, and Products of the Crypto Exchange
CoinMate is designed for active trading, i.e. to buy and sell cryptocurrencies. At the moment, its clients can use the referral program to earn passive income. Coin Mate plans to soon introduce the option of one of three trading bots: Trending bot, Liquidity making bot and Arbitrage bot.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of thedeal and all the steps from signing up to withdrawal of profits.
CoinMate Referral Program
Clients of the exchange get 20% of the trading fees of users who register on CoinMate using their referral link.
The referral reward is accrued for a period of six months after the registration of a referred user.
Conclusion. Is CoinMate good for beginners?
The CoinMate cryptocurrency exchange will be an excellent choice for beginners. The exchange offers a convenient trading platform, which a beginner can learn to work with rather quickly. There is an excellent education center with a large number of materials for novice traders. Also, traders can earn passive income on good conditions. Therefore, CoinMate could be considered as a good cryptocurrency exchange for a start.
- Is Blockchain.com a Good Crypto Exchange for Beginners?
- Is Buda a Good Crypto Exchange for Beginners?
- Is EXMO a Good Crypto Exchange for Beginners?
- Is Crex24 a Good Crypto Exchange for Beginners?
- Is Luno a Good Crypto Exchange for Beginners?
- Is Satang Pro a Good Crypto Exchange for Beginners?
- Is CoinSpot a Good Crypto Exchange for Beginners?
- Is Atani a Good Crypto Exchange for Beginners?
- Is Huobi Global a Good Crypto Exchange for Beginners?
- Is eToroX a Good Crypto Exchange for Beginners?
- Is Kuna a Good Crypto Exchange for Beginners?
- Is ByBit a Good Crypto Exchange for Beginners?
- Is KuCoin a Good Crypto Exchange for Beginners?
- Is Binance a Good Crypto Exchange for Beginners?
- Is CoinTiger a Good Crypto Exchange for Beginners?
- Is Kraken a Good Crypto Exchange for Beginners?
- Is Coincheck a Good Crypto Exchange for Beginners?
- Is Lykke a Good Crypto Exchange for Beginners?
- Is Bitsgap a Good Crypto Exchange for Beginners?
- Is Ledger Wallet a Good Crypto Exchange for Beginners?
- Is Tidex a Good Crypto Exchange for Beginners?
- Is Nexus Trade a Good Crypto Exchange for Beginners?
- Is Bitbuy a Good Crypto Exchange for Beginners?
- Is BitBay a Good Crypto Exchange for Beginners?
- Is CoinMetro a Good Crypto Exchange for Beginners?
- Is LATOKEN a Good Crypto Exchange for Beginners?
- Is StormGain a Good Crypto Exchange for Beginners?
- Is Bitbns a Good Crypto Exchange for Beginners?
- Is AscendEX a Good Crypto Exchange for Beginners?
- Is BitoPro a Good Crypto Exchange for Beginners?
FAQ
What do I need to know about the fees charged by cryptocurrency exchanges?
The majority of cryptocurrency exchanges use the Maker/Taker fee model. As a rule, they use a multi-level system for traders that depends on the trading volume. The higher the trader’s trading volume, the lower the fees.
How do I choose a reliable cryptocurrency exchange?
Crypto exchanges mostly operate without licenses, as the majority of countries haven’t adopted legislation to regulate them. In order to choose a reliable exchange, you need to find out about its reputation and read the reviews about user experiences with it.
How many cryptocurrencies could a crypto exchange offer?
The number of cryptocurrencies on the listing of a cryptocurrency exchange may be very different. Some platforms offer less than 10, while others – several hundreds. It is important that you check the choice of cryptocurrency before registering on the exchange.
What are the risks of investing in cryptocurrencies?
Investing in cryptocurrencies carry high risks due to their high volatility. It could cause substantial losses, which is why it is important to observe the rules of risk management.
Related Articles
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.