Coin.MX Member Reviews

[coinmx]

Greetings Bitcoin Talkers! Did you know you can buy Bitcoin and Litecoin using credit or debit cards, bank transfer, or wire today by becoming a member of Coin.MX? Coin.MX is an association that provides a trading platform for members to exchange digital money. After you complete the verification process, simply deposit funds in your Coin.MX account using your debit or credit card, bank transfer, or wire, and begin trading instantly!

Since we launched our new platform in October 2013, we have grown to over 10,000 members! Not only do we offer a secure and user friendly platform, our support team is on standby 24/7 to assist you. Become a member today and experience a level of service and support like none other!

Already a member? Please comment on this thread and share your experience with Coin.MX. Your feedback is very important to us and we truly appreciate your help validating our service and spreading the word about all we have to offer.

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[bitrich]

I have to say the customer service is a lot better than other exchanges. I have completed 2 purchases so far by debit card and it went pretty smooth. You upload a quick video with your ID, face, and debit card for verification. The one issue I had was the fee for deposit with a CC says. 3.5%. Once I got the charge on my card it was 7%. I complained and got a prompt response that due to the fact they use overseas CC processor. That they additional charge was likely from my own bank. I have yet to verify this but I will post once I do. They also now have the option for US bank wire and bank transfer. I have not used this option yet and Im a little confused on the fee. Its says on the page $500 minimum deposit, 1% fee ($50 minimum). If this is a minimum $50 deposit fee it's ridiculous and more expensive than wiring money overseas to bitstamp or others. BUT I was assured by AMY on the instant customer service chat that the fee was 1% only and that my bank transfer of $500 would only cost $5.

Ill update if I get a chance to try it out.

Other than that the trade engine seems to work smoothly, the interface is simple to use. trade fees are comparable to other exchanges (only slightly higher) BTC withdrawal fee is .001
withdrawals processes instantly.

The market rate tends to run 5% or so higher that other US exchanges, I assume this is due to low volume or perhaps confusion about USD withdraw. There IS a USD withdrawal option with a 1% fee (with another confusing ($20 minimum) that AMY claims is only a 1% withdrawal fee.

Overall I would like to see this exchange grow and I would like to see the owner(s) pay attention to what the community wants and build the top US (or even world) exchange. I'm still suprised I havent seen more volume there already. I think the fees are a little confusing and the site looks a little scammy at first glance. I think if they added a chatbox feature people would feel more at home and comfortable, they could ask the opinions of others directly and clear up some of the first questions they have instantly. Worked well for mcxnow anyway.

UPDATE:
-----The extra fee I was charged on my deposit was a "foreign transaction surcharge" charged by netspend. Not by coin.mx. It appears to be because coin.mx's credit card processor is in Baku, Azerbaijan, that the banks may try to add a fee to your transactions. After I called netspend and complained the charges were removed.


-----The market rate at coin.mx has moved a little closer to the average over the past couple days and I suspect the volume is growing some, which is a good thing but until the volume here is comparable to the bigger exchanges there will not be enough liquidity here to arb which will keep the price higher (or possibly lower) than average

I have completed several buys and BTC withdrawals with no real issues other than the interface is slightly buggy. Sometimes when I cancel an order it will continue to show on the orderbook at the top regardless of real market price or currency. When you switch from BTC to LTC the chart and orderbook sometimes still show the last currency's price or symbol. I had to refresh several times throughout my interactions. One of the more scary bugs is I have logged out, closed the browser and re-opened the page and I was still logged in.

The site uses 2FA but I would feel more comfortable with google authenticator or authy support. Texts can be intercepted and the code sent may be able to be used at a later time. Overall the security is not bad. They ask for 2FA code for withdrawal also which is good.

I had one btc withdrawal which failed with no explanation but the 3 others worked fine.

I think a chatbox would be a great addition to the site. New users are more comfortable when they can chat with other users about their experiences etc.

The site is kind of laggy overall. I expect at some point they will need to upgrade their server and it's already slightly annoying.

I think if coin.mx can speed up the site and fix some a few bugs they will continue to grow. More traders will use the site if the engine is fast and the bugs are minimal and the that will increase the volume. I'd like to see more community involvement by coin.mx for example on reddit and bitcointalk. They should consider running with free trades for a short time or other promotions to get the word out. The more people see coin.mx posts and more positive reviews the more trust will be built and trust is important with exchanges as we all know.

[meeheehee]

I started with coin.mx about a month ago and originally had very good service and made several purchases and withdraws through them with no hassle.

In the last week they have been very unresponsive to my request to change the phone number on my account. Because of this I can no longer purchase BTC with USD -- I wish the support would be a bit more responsive and proactive.

[jpatel95]

Just used Coin.mx and I have to say I am impressed with the customer support. The payments and everything were extremely easy to setup. I do plan on using their service again in the future.

[rodeoclownicp]

try getting your money or btc out.. i think it might be a scam. they dont tell you its a $20 minimum to get money out. there is no secure entry to put financial information- you are just typing into a text field,  and when i didnt want to pay te 20 i changed my money back to btc to send back to my wallet and the system went down i still have never got my btc out

[nboy]

I'm with bitrich and not with rodeoclown here. I have been trading on Coin.MX since December 2013 and they are legit.  Quick verification, buying with credit cards and fast customer service are three very good things about them.

The sell price runs higher than Stamp or most others.  This is partly due to CoinMX 0.5% trading fee, 1% withdrawal fee (ouch) and liquidity on the site. Sellers get a premium through the higher price, but they have to earn it.  Sales of even a few BTC or LTC can take awhile to find a buyer and a typical BTC flash crash may happen on Stamp while you wait for your 2 BTC to be sold on CoinMX.  I've observed some "instant trades" or bot trades that appear mysteriously and instantly, which appear to me to be off-chart, member-only trading.  Most trades on the site are usually 0.1 BTC or less, but higher amounts are becoming more common.  It is rare to see a full BTC or more being offered at a single price.

Money withdrawals are expensive but usually only take 1-2 business days straight to a bank account.  No real problems there.  BTC deposits take 6 confirms.  After 3 confirms you can see the exchange send your coins to new wallets, a few to one wallet and most to another, probably as part of a fractional reserve system.

The customer service is instant via messaging on the site.  I received emails from them as well about support tickets.  Once my account was hacked but 2-factor prevented an attempt at a withdrawal of BTC purchased by my account.  At that time, I received telephone calls from Jen at support, who was clearly an American English native speaker.  She followed up by phone also as well as email.  I soon sold the BTC the hacker bought at a profit. Their support is usually instant and helpful, although the few special problems I've run into required "the developers" and a ticket was generated.  I've suggested 2-factor login to them, which would make me feel better especially after the account hack.  They have at least 3 front-end support staff members and someone is usually available for instant text support.

Overall, I've had a good experience with them.  Aside from liquidity, my only concern is the exchange growing too fast.  I hope they maintain their good customer service as their volume increases. CampBX sure didn't.

[rodeoclownicp]

wow those reputation services you see on tv sure do work and quick,,,, to good to be true

[ninthaxis]

I have had no problems with this service thus far.  Purchasing was a breeze and support staff has been helpful.  I initiated my first bank wire withdrawal this morning, I will update when that has gone through.

[Ratko]

I just want to put up a quick review of coin.mx.

Very, very fast service for the time I have worked with them! (Thanks)

Did a cash wire at BOA and within 2 hours I had my BTC.

They are always online and the chat reps are always very, very helpful. Believe it or not, they have saved and made me money! (Chat reps)


I'll be back!

[coinenthusiast34]

I have had no problems with this service thus far.  Purchasing was a breeze and support staff has been helpful.  I initiated my first bank wire withdrawal this morning, I will update when that has gone through.

Did your bank wire withdrawal ever go through?  No update?

[slybootz]

I made two successful Credit Card transactions tonight with Coin.mx and everything went smoothly.  Their live chat person, Jessica, walked me though every step of the verification process.  I couldn't be more happy with the transactions!