Last Updated: Dec 27, 2022

Coinpass Review

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What Is Coinpass?

Coinpass is a cryptocurrency exchange based in the United Kingdom that allows users to buy and sell 15+ different cryptocurrencies. It was founded in 2018 and the platform is compliant and registered with the UK FCA (Financial Conduct Authority), making it a safe and compliant option for trading crypto.

Key Features

  • Trade 15+ cryptocurrencies with free GBP or EUR bank transfers
  • Simple and advanced trading platform for all types of investors
  • Auto-trade (recurring purchases) helping you dollar-cost average into the market
  • Quick account setup (under 5 minutes) and a 24/7 support team available to help

Other Features

  • GBP & EUR Bank Transfers: With local banking options for bank transfers, Coinpass is a convenient fiat on and off ramp for users in the UK. Deposits are free while withdrawals cost either €5.00 or £5.00.
  • Auto-Trade (recurring buys): This allows users to "dollar cost average" their way into Bitcoin, Ethereum, and other cryptocurrencies, helping them to invest in crypto automatically and never miss another dip again. The Auto-Trade feature is a convenient option for those looking to gradually build their crypto portfolio over time.
  • Earn Rewards: Get rewarded when you trade your first £500, invite friends, or perform other tasks. Coinpass also hosts trading competitions with prizes.

Trading Dashboard

Coinpass caters to both beginner and experienced traders, offering both simple and advanced trading options. The platform has an easy-to-use interface for those new to crypto trading, as well as more advanced features for those looking to take their trading to the next level. Coinpass's trading dashboard includes charting tools, market orders, limit orders, and other advanced order types.

Coinpass Advanced Trade

Supported Cryptocurrencies 

  1. Bitcoin (BTC)
  2. Ethereum (ETH)
  3. Solana (SOL)
  4. Bitcoin Cash (BCH)
  5. Dogecoin (DOGE)
  6. Polkadot (DOT)
  7. Litecoin (LTC)
  8. Polygon (MATIC)
  9. Stellar Lumens (XLM)
  10. Uniswap (UNI)
  11. Chainlink (LINK)
  12. Tezos (XTZ)
  13. Ripple (XRP)
  14. EOS (EOS)
  15. Cardano (ADA)
  16. Tether (USDT)
  17. USD Coin (USDC)

Opening An Account

Coinpass makes it easy to open an account, with a process that takes as little as 5 minutes. To set up an account, users simply need to download the app, verify their identity through the KYC process, and deposit funds. Once these steps are complete, users can start trading on the platform. Coinpass reports that 94% of its users have set up an account on the platform in less than 5 minutes, making it a fast and convenient option for accessing the crypto market.

  • Create an account
  • Verify your identity through the KYC process
  • Deposit funds

Coinpass Fees

Fee Type

Amount

Trading Fee

0.35%

Spread

???

GBP Deposit

Free

EUR Deposit

Free

GBP Withdrawal

£5.00

EUR Withdrawal

€5.00

BTC Withdrawals

0.0005 BTC

ETH Withdrawals

0.005 ETH

Cell

Security

Coinpass FCA Info

Coinpass is in the FCA database

Coinpass is a relatively young company (founded in 2018) and their security page provides very minimal information. For example, it doesn't say how much their crypto is insured for and just provides general statements like "layered security measures." On the bright side, Coinpass is still FCA regulated and has never had any hacks.

  • FCA Regulated
  • Funds held in cold storage
  • Insured crypto custody
  • Never had any hacks that we know of
  • 24/7 Support
  • 2FA and IP verification and whitelisting
  • Operating since 2018

While Coinpass looks safe, it doesn't replace the need for your own wallet. I recommend the Ledger, which is the world's most popular hardware wallet and it lets you store your funds offline, away from hackers.

The Bottom Line

Coinpass is good if you're looking for a compliant fiat on-and-off ramp in the UK to trade major cryptocurrencies like Bitcoin and Ethereum. It has 15 cryptos, 0.35% trading fees and free deposit and withdrawals. However, if you want hundreds of altcoins, lower fees, and additional crypto features, we recommend a Binance or KuCoin account.

Pros & Cons

  • Compliant with UK Financial Conduct Authority
  • Offers both simple and advanced trading options for beginner and experienced traders
  • Good user interface for easy navigation
  • 24/7 support team available for customer assistance
  • Rewards program for new users and referral rewards for inviting friends to join the platform
  • Limited selection of altcoins compared to other exchanges like Binance and Kucoin, which offer over 500 coins
  • Other exchanges offer lower trading fees than 0.35%
  • Limited features compared to global exchanges (no staking, trading bots, futures, etc)


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