A Cobinhood Review: Enabling Zero-Fee Trading

A Cobinhood Review: Enabling Zero-Fee Trading

cobinhood review
Source of image: https://cobinhood.com/

With the boom of technology, there are several players in the market offering various products and services. There is cut-throat competition between each, and every domain as well as the quality and robustness of your offering define you and help you stand out among the rest.

The sudden buzz in the cryptocurrency market has led to the emergence of several cryptocurrency exchange platforms. Many factors are taken into consideration by traders to choose the best suitable exchange for their transactions, like a number of fiat currencies supported by them, customer service, and many others.

Cobinhood is a high-frequency cryptocurrency service platform that has claimed to resolve most of the existing problems that are prevalent on the  other exchanges. It is the world’s first trading exchange with zero trading fees that facilitates cryptocurrency trading and ICO underwriting.

It supports a wide variety of fiat currencies, like the USD, EUR, JYP, AUD, HKD.. The exchange claims to be fully transparent and is open to reveal all offline and online wallet addresses for auditing purposes. Interesting, isn’t it? Let’s dig a bit deeper and review the Cobinhood exchange to know about how it is making a difference and changing the game of cryptocurrency trading. For an overview of Cobinhoos, here is a video on just that: 

A Quick History

Cobinhood, both a cryptocurrency exchange and provider of numerous cryp was co-founded by Pope Chen and Wei-Ning Huang. The former is the CEO and latter the CTO of the company. The exchange is backed by very prominent financial advisors like Chen Liu (former Chairman of Easy Card) and Tony Scott (former USA Federal CIO).

With their in-depth knowledge and experience in the field of cryptocurrency and support from the advisors, they have been able to create a platform that is currently providing solutions to around five million active users. They have also claimed to give a 20x return to their angel investors within a year.

Key Features

Apart from zero trading fees, Cobinhood has many other key features that make it a better product than the average cryptocurrency exchange. Let’s quickly go over a few of them:

More Choices, Lesser Fees

The exchange supports many fiat currencies and cryptocurrencies: major currencies include USD, EUR, JPY, KRW, and GBP, and BTC, ETH, ETC, XRP, NEO, and LTC are the major cryptocurrencies .

Cobinhood eliminates trading fees at both buying and selling ends; thus, it allows traders and investors to make the most profitable exchanges and, in turn, maximize their market liquidity. They are not being charged for any spot or margin trading.

Apart from multiple choices in terms of currencies and cryptocurrencies for exchange, it is also a multilingual platform as it supports a wide range of languages such as English, Spanish, German, Chinese, Russian, and many others.

In this Cobinhood review, it was found that they have an excellent support system in all languages they cater for and they can be reached online, 24/7. They usually respond within a day and place a high priority on  customer support when compared to other platforms.

Better Speed for Better Execution

Cobinhood focuses a lot on transaction speed and customer support. The exchange platform can process more than 1 million orders per second with less than a millisecond latency. They provide a real-time cryptocurrency trading platform that not only supports the high-frequency trading but also leads in terms of profitability and execution.

Cutting-Edge Security Protocol

You have most likely already read a lot about cybercrime and there is no-need to mention the fact that cryptocurrency exchanges have been frequent targets of them. The breach of Mt. Got and Bitfinex have been so massive that the security protocols have been a major arena of development when it comes to finances. Customer security concerns have grabbed the top slot in the list of concerns and every exchange is trying their best to ensure and implement all major security checks.

To put an end to this nuisance, Cobinhood has implemented two-factor authentication (2FA) for logging in for all online transactions. They have taken an additional step of an  email confirmation for any kind of withdrawal.

In order to ensure the security of all the offline transactions, each user has been provided with a multi-signature wallet with 8 HSMs (Hardware Security Modules) out of which 5 needs to be confirmed at the time of accessing the wallet.

To ensure 100% transparency, Cobinhood has also offered to make all online and offline wallet address available for public scrutiny. This step was taken to prevent any kind of embezzlement or fraud.

Since Cobinhood has taken all preventive measures possible and keeps on auditing and maintaining their platform  on regular basis, 100% of user’s crypto assets is backed by the company’s insurance.

Cobinhood’s ICO Services

An Initial Coin Offering (ICO) is a way for companies to obtain funding by using cryptocurrencies. There have been an a big increase in the number if ICOs issued in the near past due to an exponential growth in potential investors’ interest and the emergence of many new cryptocurrencies in the market.

Cobinhood tries to solve the various issues associated with the ICOs and one of these problems is the low starting liquidity of an initial coin offering. In 2017, they started offering ICO underwriting services, in which they only underwrite high-quality,promising ICOs that have cleared the due diligence and smart contract reviews.

The Cobinhood ICO underwriting service grew so fast that they decided to launch their own ICO. The ICO token of Cobinhood is known as a COB.

An ICO for COB took place in the third quarter in 2017. They raised roughly around 13 million dollars and issued 300 million tokens in trading. COB reached its peak of $1.20 in price at the start of 2018 but since then it has been on a downward spiral path as most of the cryptocurrencies were in 2018.

Trading on Cobinhood

Trading on Cobinhood is possible via internet browsers as well as mobile applications. Its mobile app is available for both Apple and Android users. The four major trading pairs on Cobinhood exchange are ETH/BTC, BTC/USDT, ETH/USDT, and COB/ETH.

The Cobinhood webpage contains all the major metrics and parameters required for making a calculated estimation for trading, like the latest price, volume, market cap, 24-hour changes in candlestick charts, and the highs and lows. The user can also mark their regular trading pages as favourites and these are easily accessible.

Is Cobinhood Legit?

The Cobinhood cryptocurrency exchange has gained a lot of buzz in the cryptomarket due to their zero fees business model. The full transparency, number of choices, and backing by some of key finance persons have helped them to gain trust from traders.

Still, you can find a few red flags being raised by people here and there. Omitting trading fees might seem catchy for the traders, but it also brings Cobinhood’s revenue model into question. Currently, they are making money by ICO underwriting and collecting margin trading fees.

In other Cobinhood reviews, they also got tagged with unfavourable reviews when they offered a few stars and other famous people one-plus-one deals. They also got hit on Reddit where an anonymous user who claimed that their money has been stolen by Cobinhood, though there was no concrete proof of this.

But their full transparency, backing by powerful investors, and timely execution of their promises as per their timeline doesn’t lead us to believe the platform and the financial services they offer is a scam. The only way to know to about their sustainability in this market is to wait.

Final Thoughts

Cobinhood is a cutting-edge model of a cryptocurrency trading platform that takes a wide and running perspective of its place in the crypto business ecosystem. As opposed to concentrating on charging fees as with other exchanges, the Cobinhood show is enterprising in spirit and activity.

It aids to the kind of development that nourishes its plan. By offering various ICO-related services, Cobinhood invigorates the crypto-cycle with helping to launch new ICOs and tokens, alluring pairs, and effectively supported ventures.

As a place to exchange, Cobinhood providers an easy-to-understand interface with an extensive variety of accessible options and features. You can do the kind of exchanging that you wish on this exchange platform by incorporating margin trades with powerful leveraging.

Thus, Cobinhood is surely an excellent option for anyone looking to do novice or pro cryptocurrency trading,. It will surely attract a huge number of professional traders and foreign investors by prioritizing industry growth and quality.

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