CoinBull Exchange Review

Coinbull Cryptocurrency Exchange Review | bestbitcoinexchange.io

May 31, 2018 by BestBitcoinExchange

 

If you are looking to get started on cryptocurrency trading then knowing which cryptocurrency exchange to use is a vital first step. Maybe you have seen Coinbull trading mentioned and wonder whether it is a reliable site. To help you to make the right decision, we have put together an in-depth Coinbull review. We have looked at everything that you might be interested in, such as their platform, fees and the reputation that they have. Read on to understand whether Coinbull is a good exchange for you to try.

 

Coinbull quick facts

Overall score: 4 stars
Coins offered: Cardano, ARK, Bitcoin, Binance, Bancor, Dash, Bitcoin Cash, EOS, Ethereum Classic, FunFair, Gas, IOTA, Komodo, Litecoin, Neo, Nxt, Po.et, Quantstamp, Augur, StarCoin, Stellar Lumens, Tron, Monero, Ripple, Verge, Zcash and 0x
Minimum deposit:  $200
Regulation/licence: Not regulated or licensed
Payment methods: Credit card, debit card, wire transfer, Bitcoin
Main benefits: Easy to use platform. Bonus of up to 50% for new traders. Training and personal account manager options. Three different levels of account to choose from.

 

How we conducted our Coinbull review

There are a number of factors that we take into account when we conduct our reviews, and it's no different in this Coinbull review. They include the number of crypto coins that they offer and the ease of use, which are both factors that the Coinbull trading platform rates very well on. Another positive point comes with the training package for new investors, while three different types of membership offer great flexibility. Areas where the Coinbull app doesn’t score so well include the lack of licensing and the lack of clarity on some of the information on the site.

Naturally, we weigh up all of these areas to provide an overall score and opinion so that you can easily understand whether it is a site to trust. This Coinbull review has taken all of those factors into account so that you get a clear view of what this broker is like to deal with.

 

Background

To continue our Coinbull review, let's look at some background. The Coinbull app and website is owned by a company called ABC Marketing, with a physical address in Dominica provided for them on their site. International support numbers are provided for the UK, Switzerland, USA and Canada, suggesting that they have office or staff in these countries too.

On their own site, they call Coinbull “today’s leading crypto currency trading platform”. The site has been around since being registered in mid-2017. There are no individual names listed for the people who run this site and we were unable to locate any further information on the company.

At the time of writing this Coinbull review, they claim to have 2017 traders who have earned $1,673,757 between them since the service began. The stated average income for traders using the platform is $973. Another interesting figure we found on the website which we thought you'd want to learn from our Coinbull review is that 10,000 daily trades are carried out. However, all of these figures are listed as being from 03.01.2017 so it isn’t clear what the up to date statistics are. It is also slightly confusing as the site was registered after this date.

 

Regulation & Safety

One of the big issues for any crypto investor is around the safety of the site that they plan to use to buy cryptocurrencies on. Is Coinbull safe to use or should you avoid it? That's what our Coinbull review is here to explain! Since these coins are unregulated, using a broker or a cryptocurrency exchange that is regulated gives valuable peace of mind. At the moment, Coinbull trading is unlicensed, although they promise that all funds are professionally handled and that client money is always kept apart.

If you are particularly concerned about finding a fully regulated broker - and we think you should - then we recommend that you check out our eToro review. This platform is backed by CySEC and the UK's FCA. It is fair to say that many cryptocurrency brokers are unlicensed and unregulated, though. Therefore, Coinbull isn’t alone in the question of not being regulated, although it would certainly be great news if they became fully regulated at some point in the future.

They do state that they offer “100% secured trading with the data protection”, although with no license to back this up there is no cast-iron guarantee that you can rely upon here. If you'd like to go with a licensed exchange instead, consider investing in cryptocurrencies at our recommended broker exchange, eToro.

 

Fees

There are no specific fees explained by the exchange at the time of writing this Coinbull review. Instead, they state that each transaction is individually priced according to the market conditions at the time. This is a fairly standard approach to cryptocurrency investing in the UK and other countries. 

It is always important to fully understand the fees for any trade that you plan to make. Paying too much in commission can lead to part of your profits being lost in fees. However, you should always expect to pay a fee for trading on cryptocurrencies on any reputable site.

 

Payment Methods

The people running Coinbull have opted to offer just a relatively small selection of the most commonly used payments methods. These are credit/debit cards, Bitcoin or a standard bank wire transfer. 

Any of these payment methods should ensure a fast and easy process for funding your account, although bank transfers can typically take some time to go through in certain countries. Certainly, the fact that there is a relatively limited number of payment methods may actually make it easier for you to get started, as there aren’t a lot of different options to look through or to decide upon.

When it comes to withdrawals, they say that all requests are carried out “within an hour”. However, some clients have complained in the past about delays in getting hold of their money, and we found that important to note in our Coinbull review

 

Customer Support

The Coinbull Bitcoin and crypto team prides itself on offering a high level of customer support. They have an email address at [email protected] that you can write to with questions. You can also get in touch with them by phone:

UK - Tel: 44-2038073791
Canada - Toll Free: 18004716025
Switzerland - Tel: 41-435089386
USA - Toll Free: 18004716025

It isn’t clear what languages are supported on these phone lines and during what opening hours they can be contacted. Also, there is no FAQ section on their site to cover the basic questions that you may have. However, there is a live chat window on the site. 

 

Unique features & Trading Platform

When you read a Coinbull review, you want to find out what sets this platform apart from others. At the Coinbull trading platform is that there are three different types of account that you can choose from: Green, Blue and Platinum, with each one giving a different range of benefits. Each of the packages allows access to their education centre and the option of one-to-one basic training. A personal account manager is also promised on all of them, although it isn’t clear how this service works. You can either trade independently or with the help of an experienced trading advisor.

One of the main differences between the three different account options is the bonus on offer. Green offers no bonus, but the Blue alternative gives up to 20% and the Platinum account gives up to 50%. To claim this bonus amount, you need to have traded 40x each $1 of bonus.

The platform has a number of charts on it that let you assess the different types of investment available. However, the relatively clutter-free and simple approach they have opted for makes it better suited for new investors rather experienced investors looking for lots of features. You can also use the Coinbull app on a tablet or smartphone. Coinbull allows for weekend trading too.

 

How does Coinbull compare to eToro?

We feel that the best option for trading virtual currencies is to be found at eToro. Therefore, it makes sense to look at this site in our Coinbull review and note the main differences between it and Coinbull. The main issue that stands out is the regulatory aspect, as Coinbull isn’t regulated but eToro is fully CySEC & FCA regulated. This is the main drawback that we have to mention on this Coinbull guide, although Coinbull does have other areas that make it worth looking into. Is Coinbull safe to use? Their lack of regulation means that we view eToro as a safer choice. 

Both of these sites are easy to use and welcoming for new investors, with a strong emphasis being placed on customer support and training. They also each offer a wide range of different cryptocurrencies that cover the industry’s big names, allowing you to Buy Bitcoin or buy Ethereum, as well as slightly less well-known coins such as Stellar Lumens, Cardano and Ripple.

The fact that the eToro site has a more extensive selection of payment methods is another factor in its favour, although it is possible that you may be satisfied with the smaller range of options at the Coinbull trading site. Taking everything into account, if you want to invest in cryptocurrencies very easily, you will see that eToro gives you the flexibility that you need. Feel free to compare our Coinbull review to our comprehensive eToro review if you'd like to see their differences in detail.

 

How to sign up in 5 quick steps

Our Coinbull review will now explain how to sign up for Coinbull easily and quickly.

 

coinbull

 

1.  Choose the “create account” option at the top of the home page
2.  Fill in your basic details and choose a username before clicking “create account at the bottom
3.  Choose your preferred payment method and deposit amount
4.  Verify your account by sending a copy of your ID and a recent utility bill
5.  Find the currency you are interested in and start trading on it

 

The Pros and Cons of Coinbull

Pros

Cons

Three different types of account to choose from Not regulated
Wide range of cryptocurrencies Lack of information on some matters
Extensive training provided for new members  
A strong emphasis placed on customer support  
Easy site to use  

 

Is Coinbull a good place to buy cryptocurrencies?

And now, we reach perhaps the most important point of our Coinbull review: Should you choose it? There is no doubt that there are some reasons for choosing Coinbull trading. The training on offer, the easy to use interface and the high level of customer support all mean that it is the sort of trading site where newcomers can get started easily. With many interesting currencies to choose from, this is the sort of site where you could start to make money on coins such as Bitcoin, Dash and the Litecoin currency.

The negative points on this Coinbull review include the lack of regulation and lack of clarity on their site. You may also be disappointed if their relatively small range of payment methods doesn’t cover the one that you want to use. You can pick up a healthy bonus once you start trading on here but you should be aware that the relatively high trading volume needed makes it difficult to claim this bonus.

Having said all of that, it is worth pointing out that eToro was our winning exchange for 2018. We feel that this is your best option for buying any virtual coins on a fully regulated site that offers everything you need to make a profit without any fuss. Check out our thorough eToro review to see more about this site, or visit Toro to get started right away.  

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