Coinut Review 2024
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- 100 SGD
- WebTrader
- Mobile application
- Makers can trade with zero commission
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- 100 SGD
- WebTrader
- Mobile application
- Makers can trade with zero commission
Our Evaluation of Coinut
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Coinut is a high-risk cryptocurrency exchange with the TU Overall Score of 2.72 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Coinut clients on our website, Traders Union expert Anton Kharitonov does not recommend working with this broker, as, according to reviews, most clients are not satisfied with the broker. Coinut ranks 160 among 173 companies featured in the TU Rating, which is based on the evaluation of 100+ criteria.
The Coinut crypto exchange focuses on the active trading of popular cryptocurrencies and does not offer investment solutions to generate passive income. Due to the loyal deposit requirements, the availability of training materials, and trading platforms with clear functionality, the exchange is suitable for novice traders. When trading large volumes, Coinut offers zero commission, which will be appreciated by experienced market participants.
Brief Look at Coinut
Coinut is a cryptocurrency exchange headquartered in Singapore, which also has a subsidiary office in Canada. It has been providing services for spot trading with digital assets since 2013. Today, more than 1 million crypto traders worldwide use Coinut trading apps. The exchange is registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) as an MSB (Money Services Business). Its clients can trade 10 cryptocurrencies, including in pairs with US dollars. The priority fiat currency on Coinut is the Singapore dollar (SGD), but it also accepts and allows withdrawing in USD and CAD.
- there is no minimum deposit amount for cryptocurrencies;
- differentiation of trading commissions depending on the type of order and trading volume;
- availability of a license from the regulator of Canada;
- the ability to place limit orders with zero commission;
- access to trading from any device connected to the internet;
- availability of a referral program with long-term reward payments;
- simple and fast registration with the ability to switch to demo mode.
- there are no investment programs, including staking;
- only a small range of trading assets; XRP, BCH, and DASH are not available;
- the slow response by the technical support team.
TU Expert Advice
Financial expert and analyst at Traders Union
The list of cryptocurrencies available on the Coinut Exchange includes BTC, LTC, ETH, ETC, XMR, DAI, and ZEC. Stablecoins are represented by USDT, XSGD, and XIDR. All assets are traded in pairs combined with digital coins or US dollars. You cannot trade euros or other fiat currencies on Coinut, and the exchange only allows spot transactions. Margin trading is not available.
Coinut is headquartered in Singapore, so the main settlement currency is SGD. Singapore dollars can be deposited and withdrawn to cards and bank accounts. They are also available to reduce non-trading costs. In practice, this happens as follows: a trader deposits fiat SGD to a bank account specified by the exchange, after which funds are converted into XSGD stablecoin for free using the FAST transfer option.
Ensuring the safety of client funds is a priority. The Exchange regularly undergoes an internal audit in real-time. The withdrawal of large amounts is performed in a semi-manual mode with the participation of a specialist. Logins to the account are protected by two-factor authentication (2FA). Also, Coinut's activities are regulated by the Canadian FINTRAC center, and most of its clients' funds are stored in cold wallets.
Coinut Summary
| 💻 Trading platform: | WebTrader, apps for mobile devices based on Android and iOS |
|---|---|
| 📊 Accounts: | Demo, Normal, VIP 1, VIP 2, VIP 3, VIP 4 |
| 💰 Account currency: | USD, SGD, CAD, and cryptocurrencies |
| 💵 Replenishment / Withdrawal: | Cryptocurrencies, Visa, MasterCard, wire transfer, telegraphic transfer, Google Pay, Apple Pay, Xfers, domestic cheque, and iBanking |
| 🚀 Minimum deposit: | 100 SGD, there is no minimum deposit amount for cryptocurrencies |
| ⚖️ Leverage: | 1:1 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | From 0 |
| 💱 Commission: |
Maker: 0% - 0,45% Taker: 0,1% - 0.5% |
| 🔧 Instruments: | Fiat-to-crypto, crypto-to-crypto |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | Limit, market |
| ⭐ Trading features: | Makers can trade with zero commission |
| 🎁 Contests and bonuses: | Welcome bonus |
Coinut is an exchange for spot trading cryptocurrencies through limit and market orders. Transactions can be made both on the web platform and in mobile apps. The minimum deposit requirements depend on the asset used.
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Commissions & Fees
| Account type | Commission (minimum value) | Withdrawal commission |
|---|---|---|
| Normal | Taker - $30 Maker - $22.5 |
Yes |
| VIP 1 | Taker - $27.5 Maker - $20 |
Yes |
| VIP 2 | Taker - $25 Maker - $17.5 |
Yes |
| VIP 3 | Taker - $22.5 Maker - $15 |
Yes |
| VIP 4 | Taker - $20 Maker - $0 |
Yes |
Using all taker and maker commissions, the Traders Union specialists deduced the average value of commissions for trading on Coinut. This value was also compared with the amount of commissions on other cryptocurrency exchanges. All calculations are shown in the table below.
| Broker | Average commission | Level |
|---|---|---|
|
$20 | |
|
$6 | |
|
$0.1 |
Investment Options
The Coinut Exchange is intended for active cryptocurrency trading. Investors for whom passive income is a priority are limited to the referral program.
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 the deal and all the steps from signing up to withdrawal of profits.
Coinut's affiliate program
The exchange pays the partner cashback from the referee’s trading commission. The cashback amount is 30%. The program is valid for 2 years from the moment the referee opens his account. The money is credited once a month.
A partner’s reward is paid only if the referee has fulfilled the following three conditions: he has verified his identity (KYC), placed market orders, and reached a volume of $5,000 within 180 days from the date of registration.
User Satisfaction