Bitcoin Forum

Hey, guys! I would like to address everybody who has experience of using COBINHOOD exchange.
This is the cryptocurrency exchange that charges 0 fees on trading. Has anybody already tried it? Is it really worth trading on this exchange? Are there any hidden terms?

Would be grateful to anybody who could share his experience.

It looks like there's no one to trade with on that exchange.

I don't think so. But if people stopped trading there, must be some good reasons. And I would like to hear from those who have real experience of using it.

There are many exchanges available. The problem with the new or smaller exchanges is a lack of volume. You may not get the trade you want. I you check on coinmarketcap it is possible to see the volume of trades on each coin on each exchange.

I've never tried it and today is the first time I see this exchange



as some have said, new exchange has low volume, they show their faces but they are not doing something to advertising their exchange so that it has many clients, so if I were you I would stay away from this exchange until they are popular


What do you mean by "hidden terms"

Agree, their volume is still low - $2 284 015 (254,83 BTC). I heard that they were popular during ICO, but then something happened that they lost trust, something about giving away too much their tokens or something else...But I don't care much about the volume, I would like to know are there any problems with withdrawal or other hidden flaws. It looks very attractive to trade without paying trading fees.

Yes, they have low volume yet but it doesn't bother me. I would like to know whether I can trust this exchange. It looks very beneficial trading on this exchange, `cause they don't charge any trading fees, and their design is nice as for me, but I would like to be sure that there aren't any problems with withdrawals, support and important stuff like this. By "hidden terms" I mean some other fees or high withdrawal fees.
I heard that COBINHOOD was popular during its ICO but they made something that made their reputation worse. I don't recall what exactly. Maybe gave away too many tokens or smth. Also, they are situated in China and earn profit from conducting other companies' ICOs, but China banned this activity, and because of this people hesitate to trade there, I guess. Although, I visited their website (https://cobinhood.com/home) recently and found out that they are currently holding ICO, which is quite popular today - MoxyOne, aiming to solve the problem of crypto to fiat exchange.

They have high withdrawal commission;
They claim all these fees goto tx but recommended transaction fee for bitcoin or ETH is way lower than this one right now.

But paying higher fees on withdrawal might not affect you as you can save lot on trading fee. I have also heard about this exchange but haven't tried them till now.

Thanks for your answer.
I think the same. I'd rather pay more for withdrawal but trade without any fees, thus getting more profit anyway.

Ifthey don't have trading fee and they only charge for withdrawal fee then it is a good siteto exchage as it may have more chances to trade coin within that site, there are some exchanges that will charge trading fee that will cost a lot to trade. so if this site has less fees then it is good.

I think it is worth a try with the fact that they have no fees.

They do not seem to have any active complaints right now. People are saying that they have probably released their product a bit earlier than they should have, but that doesn't mean that they are not legit.

I haven't tried them myself, but the promise of no fees is just too great. The spreads don't seem to be that high either.

Best to try it out first, then comment on whether or not it's worth using. Use it with a small amount at first so that if anything goes wrong, you don't lose too much money. The withdrawal fees are a tad high but not unacceptable since they probably still haven't changed it since the transaction fees being so high.

No their fees are to high

very good exchange. very fast and secure. and zero fees. i strongly recommend. i moved all of my portfolio to there

Thanks for the answer. Actually, I think the same, just wanted to get some advice from more experienced traders.

Thanks for the information. Definitely will try it, a little bit later.
Yeah, but the important thing is that they establish the minimum amount that you can trade. If I am not mistaken it is 30$.

You mean withdrawal fees?

Finally, somebody who has the real experience of using it. Thanks for your response. Any problems with withdrawal? Is there ability exchange to fiat?

nope.
no problems on withdrawal. usdt/btc alsu supported. i withdraw btc, eth, and usdt in different times and all work perfectly and fast. ( i just waited for 1 day once for deposit eth, but it was early times of exchange. now there is no problem)

OK. Thank you for being helpful!

Problem is that the buyprice of a coin is always higher than the sellprice if you don't create the orders yourself.
Though it may not charge Trading Fees for the exchange itself, you definitely "pay fees" through buying for a higher price and selling for a lower price.

Of course, the absence of Trading Fees for the exchange itself lowers the difference between final buy/sell price.
However, this difference is negligible, due to the huge differences between buy/sell price, unless you use exchanges & trading pairs with enormous volumes, but CobinHood isn't a a high-volume exchange: Its highest volume trading pair is ETH-BTC (https://cobinhood.com/trade/ETH-BTC), with about 115k $$$, giving a difference between buy/sell orders of about 0.6% currently.

Compare that to higher-volume exchanges that charge fees, but have lower sell/buy price differences, making your potential profits much higher.
Therefore, it's stupid just to look at the exchange fees.

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As some others have already noticed, the exchange does charge some relatively high withdrawal fees. Thus, it's only worth it, if you have a reasonable amount of cryptos to trade with.

However, due to CobinHood's low volume, you wouldn't be able to buy a lot without immediately driving up the price like crazy on the exchange. Thus, again, we'd prefer a high-volume exchange with lower withdrawal fees & lower buy/sell differences, than one without exchange fees.

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Though I must say: Try it if you want... Given the volatility of Cryptos, these relatively small variations won't make the difference: The rollercoaster rides of the cryptos will.

Hm...you made some very good points. Will take them into consideration.