Cobinhood Exchange Review – Zero Fee Crypto Exchange?
Cobinhood calls itself a next-generation cryptocurrency service platform which has the intention to shape future economies by creating a crypto financial center for the blockchain era.
The cryptocurrency market is full of different virtual currency exchanges. Most of them have a specific feature that makes them the best in what they do. And Cobinhood has a special feature that makes it unique.
Cobihood is the first zero fee high-frequency cryptocurrency exchange to be launched. Moreover, Cobinhood offers ICO underwriting services for enterprises that want to launch their ICO and want a specialized company to support them in the process.
The main feature of the exchange is that it does not charge trading fees for spot trading. This is something that makes the exchange very special. There are some platforms that offer virtual currency trading services and charge very low trading fees, but Cobinhood is different.
The main way to gather funds is through its services offered to ICOs. Every time Cobinhood helps an ICO with its project, the exchange takes 5% of the funds raised by the ICO.
The exchange offers different security layers, including two factor authentication for accessing the account. At the same time, Cobihood stores most of the crypto assets in an offline multi signature wallet.
If the zero-fee trading was not good enough for attracting investors, the platform offers margin trading for the riskiest users – or those who want to obtain more profits. Experienced investors use to trade with leverage but some virtual currency exchanges do not support this option. Cobinhood allows individuals to leverage up to 1:10.
Another valuable feature that the exchange has is that it allows its users to buy bitcoin and other virtual currencies with cash. The exchange offers an incredible amounts of tokens and cryptocurrencies that can be traded against Bitcoin, Ethereum and USDT. The most important trading pairs at Cobinhood are ACT/BTC, FXT/ETH, ETH/BTC, FXT/BTC, and COB/BTC, with more than 90% of the total trading volume (around $11 million dollars).
The exchange has its own cryptocurrency known as COB. Users that pay with COB can get up to 50% off margin trading loan interest. Moreover, individuals who own COB tokens will be able to buy tokens of the ICOs that Cobinhood underwrites at a significant discount. In the future, there will be more privileges for token holders.
The platform is located between Taiwan and the United States and, as of the moment of writing this article, is not regulated by any entity.
Cobinhood has a roadmap in which they explain how they will be developing their products and services. During the second quarter of 2018, the exchange is expected to launch an online decentralized exchange. At the same time, during the third quarter, the company is expected to launch crypto assets trading, stocks, foreign exchange, precious metals, commodities, market indexes and futures.
The trading interface at Cobinhood is very professional and seems very useful for professional traders and investors. Furthermore, Cobinhood has launched a mobile application for Android and Apple devices offering the possibility to access the exchange on most smartphones and tablets available.
As mentioned before, Cobinhood does not charge trading fees for spot trading, but… it charges fees for withdrawing cryptocurrencies. The fees are 0.001 BTC, 20USD for USDT, 0.007 ETH.
The CobinHood Team
Cobinhood has an impressively young team that has built a very good service for individuals and investors from all over the world.
Chen Tai Yuan is Cobinhood’s CEO and founder. He is a 26-years-old serial entrepreneur who skipped one year of senior high school and entered NTU (National Taiwan University) as an Electrical Engineering major. When he was 24, he founded 17 live streaming, a leading live streaming platform across Asia with more than 5 million daily active users.
Wei-Ning Huang is the CTO and Co-Founder of Cobinhood. He has three years of working at Google. Before, he was an active open-source contributor and worked in the open-source space for over five years.
Tony Scott is one of the most prestigious advisors that the platform has. He is a former U-S- Federal Chief Information Officer serving from 2015-2017. He was involved in leading various digitalization and blockchain-themed projects as well as improving the cybersecurity of the government.
CobinHood in Conclusion
Cobinhood is a young cryptocurrency exchange that has been built by a young team of leaders and experts in the blockchain and cryptocurrency world. Cobinhood has several advantages, including no trading fees, deposits in cash, margin trading and a wide variety of virtual currencies and tokens.
But it has its weak points as well. The withdrawal fees are high compared to other exchanges and the platform has not developed its own cryptocurrency wallet, instead, it recommends its users to use other wallets available in the market.
Overall, it is a good and promising cryptocurrency exchange that has no trading fees and most of its revenue comes from ICO underwriting activities.