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Coinfield Review

Last Updated: Jul 10, 2022  |  Published: Jun 10, 2022


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If you're a crypto investor, you may be wondering if Coinfield is a good crypto exchange to use. So we put it to the test.

In this review, we looked at Coinfield's security, fees, customer service, and more. It's also part of a larger experiment where we tested over 20 crypto exchanges. By the end of this post, you'll have a good idea of whether Coinfield is the right platform for you. Let's jump in.

Our Review 

Crypto investors should skip Coinfield. It has expensive deposit and withdrawal fees, limited features, and only 25 cryptocurrencies. There are better choices available like Binance, KuCoin, and many more.

Use our free comparison tool to compare 20 cryptocurrency exchanges. We track 60+ variables like fees, security, features, and more so you can find the best places to trade crypto. 

Where It Shines:

  • 6 fiat currencies (trade with CAD, USD, EUR, JPY and AED)
  • 24/7 customer service
  • Available in 180+ countries

Where It Falls Short:

  • Long registration process
  • Expensive fiat deposit and withdrawal fees
  • Only 25 coins and limited features
Coinfield

Coinfield Overview

Updated: Jun 11, 2022

Coins Offered

25

Total BTC Purchase Fee

Not Tested Yet

Total BTC Selling Fee

Not Tested Yet

BTC Spread

Not Tested Yet

Trading Fee

0.15% Maker

0.25% Taker

Fiat Wallets

6 (CAD, GBP, EUR, USD, JPY, and AED)

BTC Withdrawal Fee

0.0015 BTC

Notable Features

Native CFC token, 6 fiat currencies, beginner and advanced trading

Supported Countries

About Coinfield

Updated: Jun 11, 2022

Coinfield is a European cryptocurrency exchange founded in 2018. It offers trading in 25 different cryptocurrencies and supports 6 fiat currencies. It also has its own native token called Coinfield Coin (CFC). The company operates out of Estonia and is available in 180+ countries.

  • Founded in 2018
  • Trade 25 digital assets
  • 6 fiat currencies (CAD, GBP, EUR, USD, JPY, and AED)
  • Beginner and advanced trading
  • Based in Estonia

User Interface

Updated: Jun 11, 2022

  • Web app

  • Mobile App

Platform & Features

Updated: Jun 11, 2022

Coinfield is a user-friendly platform offering 25 digital assets and 6 fiat currencies. The platform is accessible on iOS, Android, and the web, making it easy to trade anywhere. Below, we have listed every feature on the platform.

Demo Account

The Coinfield demo account lets you test the platform before investing real money. KYC is not required and you can access the dashboard, referral program, and view mode of the platform.

Trade 25 Coins & 6 Fiat Currencies

Coinfield allows users to trade in 25 cryptocurrencies and 6 fiat currencies. This includes CAD, GBP, EUR, USD, JPY, and AED. If you're looking to trade a large variety of altcoins, this may not be the best exchange for you. The best altcoin exchanges in the world right now are Binance (600+) and KuCoin (500+).

Advanced Trading

Coinfield Pro Trading

Coinfield Coin (CFC)

Coinfield Coin (CFC) is the native token of the Coinfield cryptocurrency exchange. By holding CFC, you get discounts on trading fees, increased staking rewards, and more. They also want to improve food security in Africa. You can read more in their whitepaper.

CFC Staking Programs

If investors stake and lock Coinfield Coin (CFC), they can earn daily rewards between 5%-15% APY. The minimum amount of tokens required to participate is 100 CFC. Unfortunately, Coinfield does not offer staking or rewards for other digital assets.

OTC Desk

Coinfield offers an OTC (over the counter) trading desk for institutional and individual investors that want to trade large amounts of money. The OTC desk has deep liquidity and fast settlement times with no trading fees. You must have a minimum order size of $50,000 to use the OTC desk.

Coinfield Card (coming soon)

The Coinfield Card will let users spend digital assets anywhere in the world. You will be able to load the card with money or even put up your digital assets as collateral. Coinfield has not stated what the fees and rewards will be.

NFT Marketplace (coming soon)

The NFT Marketplace will let users create, buy, sell, or mint unique digital items. It's being built with beginners in mind and will be accessible from anywhere in the world.

Games (coming soon)

For now, the only information available is that it's "coming soon." Speculation says that these will be Play-2-Earn or GameFi games in which you can earn cryptocurrency. This would not be new. KuCoin and other exchanges are getting into GameFi as well. For example, Hi.com offers 10 arcade games where you can bet cryptocurrency. We will update you as new information becomes available.

Other Coinfield Features

  • Franchise
  • Whitelabel (start your own crypto exchange)
  • Coinfield Magazine
  • Affiliate program & partner program

Opening An Account

Updated: Jun 11, 2022

Coinfield users can open a demo account in just a couple of minutes if they want to view the platform first. However, the full KYC process is extensive and more intrusive compared to other platforms we've tested. Registration is a 7-step process requiring identification, proof of residence, and personal questions for regulatory purposes.

Coinfield Verification

Requirements

Application Time

  • 2 minutes for demo account
  • 10+ minutes for full KYC

KYC

Yes

Instant Verification

No

Who Is Eligible To Sign Up?

Sign Up Requirements

  • Email
  • Name
  • Address
  • Phone Number
  • Selfie
  • Government Issued ID
  • Questions about employment
  • Proof of Residence (eg. utility bill)

24/7 Customer Support

Updated: Jun 11, 2022

Customer support can be reached by submitting a ticket, and they aim to resolve any problem as quickly as possible. They don't have a live chat feature and we haven't tested their support, but they say they're available 24/7.

Fees & Spread

Updated: Jun 11, 2022

Trading Fee Discounts

Coinfield Dynamic Trading Fees

Deposit & Withdrawals

Updated: Jun 11, 2022

Fiat Currencies

Fiat Wallets

(Deposit/Withdrawals supported)

6 (CAD, GBP, EUR, USD, JPY, and AED)

Credit/Debit Card

Yes

P2P Exchange

No

Crypto Withdrawal Fees

Type

Fee

Minimum Withdrawal

Bitcoin

0.0015 BTC

0.004 BTC

Ethereum

0.075 ETH

0.08 ETH

USDT

30 USDT

40 USDT

Security

Updated: Jun 11, 2022

Company Security Features

  • Holds digital assets in cold storage (not much info)
  • Company uses multi-sig wallets
  • Fully regulated in Europe
  • Never had any hacks
  • See Coinfield's security page

User Security Features

  • 2 Factor Authentication
  • Pin or Face ID login
  • Always monitoring your account for suspicious activity

Is Coinfield Safe?

Coinfield is considered safe and has never had any hacks. They are also regulated in Estonia and hold digital assets in cold storage.

⚠️ Although this platform is safe, over 50% of platforms we tested have had hacks or incidents in the past. We strongly recommend storing and protecting your crypto on a non-custodial wallet where you own the private keys. Preferably, a reputable hardware wallet like the Ledger Nano X.

Compared

Compare the world's most popular cryptocurrency exchanges:

Name

Coins

# of Features

Standard Trading Fee

Supported Countries

Fiat Wallets?

BTC Withdrawal Fee

Website

240+

15+

0.10%

190+

No

0.0005 BTC

Binance

Binance 🏆(#1 overall)

600+

30+

0.10%

100+

Yes

0.0005 BTC

150+

15+

0.20%

?

Yes

0.0004 BTC

750+

10+

0.25%

180+

No

0.0005 BTC

50+

5+

0.50%

?

Yes

0.0005 BTC

300+

5+

0.75%

100+

Yes

0.0003 BTC

140+

15+

0.10%

180+

No

0.0005 BTC

170+

10+

3.99%

100+

Yes

Dynamic

110+

5+

0.60%

100+

Yes

Dynamic

30+

10+

0.10%

150+

Yes

0.15%

250+

20+

0.40%

90+

Yes

0.0006 BTC

40+

10+

0%

50+

Yes

0.50%

190+

20+

0.07%

180+

Yes

Free/Dynamic

1000+

30+

0.195%

190+

No

0.001 BTC

60+

15+

1.49%+

60+

Yes

0.001 BTC

60+

10+

0%

100+

Yes

0.0005 BTC

500+

20+

0.20%

130+

Yes

0.0005 BTC

190+

10+

0.26%

190+

Yes

0.00002 BTC

500+

20+

0.10%

190+

No

0.0005 BTC

350+

25+

0.10%

100+

No

0.0002 BTC*

300+

10+

0.155%

100+

No

0.0005 BTC

130+

10+

0%

180+

Yes

0.0003 BTC + $2.99

The Bottom Line

The bottom line is that there are dozens of exchanges out there, and Coinfield is not the best. It has limited features, high deposit and withdrawal fees, and only 25 coins. There are simply better choices available.

In our review of over 20 platforms, the best exchanges are Binance and KuCoin.

Reasons To Use Coinfield

  • 24/7 customer support
  • 6 fiat currencies

Reasons To Not Use Coinfield

  • Only 25 cryptocurrencies are available
  • High deposit and withdrawal fees
  • Many better option available
Coinfield

Sign up and start trading 25 cryptocurrencies

Best Alternatives

Here are the best crypto exchanges around the world that are supported in many countries. We assessed 21 platforms across 40+ variables and 950+ data points.  

Binance
  • 600+ cryptocurrencies
  • Lowest spreads and fees in the industry
  • Most features in the industry
  • Not beginner friendly
Kucoin
  • Low spreads and fees if you fund your account with crypto
  • 700+ cryptocurrencies
  • Trade anonymously (all you need is an email right now)
  • Not beginner friendly
Crypto.com
  • Best crypto credit cards
  • Earn interest on 40+ coins
  • Lots of fiat currencies supported
  • High spreads
  • User interface
Coinbase
  • Best reputation, publicly traded company
  • Best for beginners
  • Beginner + Advanced trading
  • Very high fees overall
FTX
  • Low trading fees and low overall fees
  • Lots of advanced features
  • Hard for beginners
RankFinance

Find the best crypto exchanges with our free comparison tool


Coinfield

Coinfield

Trade 25 cryptocurrencies

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