CoinCola is this a scam? Review and Customers Reviews

CoinCola is an exchange for cryptocurrency tradingwhich appeared on the financial market in 2014. During this period, the project has attracted the attention of a large number of users around the world and continues to actively develop.

In our review, we’ll take a closer look at the features implemented by the company and find out whether CinCola is a scam or a reliable service for buying and selling Cryptocurrencies.

 

Why CoinCola

CoinCola is cryptocurrency exchangewhich began its operation seven years ago. During this period, the project has been gaining popularity and has become known among customers around the world. The company focuses on the international market, and the interface of the service is presented in 4 languages. The disadvantage is the lack of a Russian-language version of the platform, which can create problems for traders from the CIS countries. The company is headquartered in Hong Kong, from where the organization is regulated.

The exchange provides comfortable and favorable conditions for trading activities. Traders have the opportunity to trade in 12 trading pairs. The main cryptocurrencies are Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Tether, Dash. Also, a “Gift card trade” section was developed for users, where customers can buy bitcoin with any gift card or purchase a card. Here you can find such gift cards as Amazon, iTunes, Google Play and others. In addition to everything else, the exchange offers margin trading with up to 50x leverage.

The trading platform itself has a simple and clear interface. An experienced trader will be able to understand the basic functionality of the platform in no more than 15 minutes after registration. For beginners there are training materials. On the company’s website you can find a blog that features not only the latest news of the company, but also interesting articles on financial topics. You can also find training courses for inexperienced traders. All information is provided in two languages – English and Chinese.

The trading terminal is conditionally divided into several blocks:

• The user can see the available trading pairs on the left;
• The top is information about the selected trading pair, and just below is an informative chart;
• on the right is the order stack, as well as the trades of other traders;
• At the very bottom, the client can find open orders, order history, and a form to buy/sell cryptocurrencies.

So that traders can access their profile and project functionality at any time, a mobile application was created. Thus, with the help of your smartphone you can monitor your trading at any time and in any place. Both iOS and Android versions are available. Among the main advantages of the platform are:

• margin trading;
• referral program;
• Loyal Commissions;
• mobile app;
• intuitive interface;
• security;
• a detailed guide and courses for beginners;
• the ability to buy and sell bitcoins with gift cards.

 

How to exchange cryptocurrency on the coincola.com platform?

To proceed to cryptocurrency exchange, you need to go to the “Exchange” section of the website coincola.com. Next, the client should follow a few simple steps:

• choose a trading pair to exchange;
• fill out the order by specifying the amount of cryptocurrency;
• press the “Buy/Sell” button.

 

Verification on the CoinCol platform

The verification process is a mandatory procedure, unverified profiles have a withdrawal limit of $1,000. If you pass the 1st step of verification, the limit increases to $1,500, and if you fully verify, the limit disappears. To start verification, you need to go to your profile and click on the appropriate button. Then the client should select the country of residence, as well as the type of document with which he will be able to confirm his identity. It can be a passport, a driver’s license or an ID-card.

Next, the user needs to fill out the following information:

• to indicate the first and last name;
• fill in the number of the identity document.

The next step is to upload your passport photos:

• first page of the passport;
• Selfies with a spread of the passport in hand.

There are several requirements for uploaded scans/photos:

• the maximum file size is 2 MB;
• You must use the original document to scan it;
• the information must be clearly visible;
• The image should not be blurred or wrinkled;
• the image must be in color.

The final step is Face ID verification. To do this, it is necessary to scan the QR code. On average, the verification process takes from several hours to several days.

 

Deposit and withdrawal

To replenish the balance, you need to go to the tab “Wallet” and follow a few steps:

• choose a cryptocurrency to refill;
• press the “Deposit” button;
• copy the generated address and paste it where the transfer will be made from.

The minimum deposit amount is 0.0001 BTC.

Withdrawal of earnings

To withdraw funds from the exchange, you should also go to the tab “Wallet” on the site coincola.com. It should be noted that the minimum amount for withdrawal is 0.0003 BTC. Next, opposite to the selected cryptocurrency you need to click “Withdraw” and fill in the following information in the form that appears:

• the address to which the transfer will be made;
• amount to be withdrawn;
• payment password.

Cryptoexchange Commission

There is a single commission of 0.1% for both makers and takers on the transaction amount. There is also a trade fee for advertisers of 0.7%.

Withdrawal fees

There is no fee for deposits, and the fee for the withdrawal of earnings directly depends on the type of cryptocurrency:

• Bitcoin – 0.0005 BTC;
• Ethereum – 0.009 ETH;
• Tether – 10 USDT;
• Bitcoin Cash – 0.0005 BCH;
• Litecoin – 0.009 LTC;
• Dash – 0.002 DASH.

 

CoinCola Bonuses

From time to time the company conducts various promotions and gives its customers bonuses, but at the moment there are no active bonus programs.

Referral program

An affiliate program has been developed for those traders who want to earn extra income. As part of the program, each client receives a unique link through which he can attract new participants to the project and receive a reward of 20% of the commission amount. Also new partners get a chance to win 0.0001 BTC after the first successful transaction.

 

Complaints about CoinCola

Although the exchange started its operation 7 years ago, not many reviews can be found on the Internet, especially from users from the CIS countries. In general, the company has received a positive reputation, but there are also negative reviews. From the positive aspects of the project traders highlight the availability of margin trading, prompt feedback from technical support, as well as low commissions. From the disadvantages noted the lack of a Russian-language version of the project, as well as difficult verification.

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Crypto exchange regulation

A large number of bona fide projects appear on the Internet, as well as scammers. To protect yourself from a negative experience of cooperation with an unscrupulous organization, you should carefully check the license, as well as the necessary documentation on the official website of the exchange coincola.com. Let’s take a closer look at how the service is regulated. It is known that the organization does not have any license. Nevertheless, the contact information as well as all the necessary documentation is publicly available to all users.

Coincola.com User Agreement

The “User Agreement” is the main document of the project, the terms of which should be read by every trader before starting to register on the company’s website. The agreement contains the basic rules for trading activities on the site, as well as the responsibilities of clients and organizers. The disadvantage is that the document is presented only in English, which may create difficulties for users from CIS countries. Let’s consider some points in more detail.

The agreement clearly states that the company reserves the right to modify, amend or change these terms and conditions from time to time at its sole discretion. The organizer undertakes to inform users of such changes by providing a notice on the website or by posting the amended terms and conditions on the website and updating the “Last Updated” date at the top of these terms and conditions. The amended terms and conditions will be considered effective immediately upon publication on the website. If the client does not agree to these terms and conditions, CoinCola’s right to make changes, or if the terms and conditions are partially or completely excluded by applicable law of the jurisdiction, the organizer advises against using the services provided by the service.

The exchange also provides an online digital asset trading platform for products commonly known as cryptocurrency. CoinCola does not provide fiat trading capabilities on its platform and therefore is not subject to the strict rules that are attached to it. The company acts as a trading platform provider and is not a buyer or seller in trades between traders. The organization is also not a market maker. Traders must register and open an account with the company and deposit digital assets prior to trading. Traders may request withdrawal of their digital assets, subject to the restrictions outlined in the verification paragraphs.

All participants are strictly forbidden:

• use the services to participate in fraudulent or any other illegal activities;
• provide false, inaccurate, fraudulent or misleading information;
• attempt to modify, decompile, reverse engineer, or disassemble our software in any way;
• use any robot, spider, scanner, scraper or other automated means or interface not provided by the company to access services or to retrieve data;
• try to circumvent any content filtering methods the company uses or try to access any service or area of services to which the user does not have access rights;
• Develop any third-party applications that interact with the services without the company’s prior written consent;
• encourage or induce any third party to engage in any activity prohibited under this Section.

The user must take full responsibility for his or her actions at all times while using CoinCola’s services, and the company in turn reserves the right to seek damages against the user.

If necessary, the organizer may additionally ask the user to provide personal information to their partners, banks that have a cooperative relationship or create an account with such banks in order to comply with our Know Your Customer (KYC) and anti-money laundering policies.

If any account holder on the site violates any provision of the terms and conditions, his or her account and service on the site may be frozen, canceled or terminated, and the member will be liable for damages to CoinCola or losses incurred by other members. The site provides an online platform to facilitate virtual digital currency trading between buyer and seller. It is worth considering the fact that the exchange is not a party to the contract of such a transaction, or any other contract between the buyer and the seller, and is not legally responsible for those contracts. Both parties are fully responsible, arising from their contract and information relating to the publication of their trade. The Exchange does not participate in the transactions of any participants and does not guarantee or otherwise agree to guarantee the performance of such transaction.

In the event of a dispute, buyers and sellers are responsible for resolving disputes. However, if the organization receives complaints or becomes aware of any participants engaging in fraud, transaction disputes or illegal misconduct, the Exchange has the right to take the necessary steps to protect its rights as well as the rights of other participants. CoinCola may block members’ accounts for suspicious activity, screening members and information or content provided by members. The company reserves the right to remove any content or information provided on the site and does not guarantee that participants will be able to make transactions.

The user also agrees that the company may terminate or suspend access to his or her account and the site at any time in its sole discretion. If the organizer believes that any participant may cause any legal liability or that any participant’s conduct is inconsistent with the purpose of the site, the organizer may exclude such participant from the site by taking legal or technical action.

In turn, the organization is not responsible for unilaterally suspending a participant’s account or restricting a user’s access to the site by any participant or third party. Such suspension or restriction shall not affect accounts payable accrued in a past transaction or the settlement of an existing transaction. At the time an account is terminated or suspended, CoinCola shall have the right to cancel or suspend ongoing transactions in that account. The Company shall not be liable for any losses or damages resulting from such cancellation or suspension.

The organizer may provide prices, volatility, relevant news or other information about bitcoins or virtual digital currency. However, this shall not be construed as investment advice, but merely as an act of information exchange. Client agrees not to interpret the above data as investment advice.

A trader needs to understand and accept the fact that trading in commodities and products, whether real or virtual, as well as virtual currencies involves significant risk. Prices can indeed fluctuate on any given day. Because of such price fluctuations, the user can increase or lose the value of their assets at any time. Any currency, virtual or not, can be subject to significant fluctuations in price and can even become worthless. There is an inherent risk that losses will be incurred as a result of buying, selling or selling something on the market.

Customer Service

To contact support representatives, you can use one of the provided options:

• online chat;
• messengers and social networks;
• email: [email protected]..;
• feedback form.

 

Is CoinCola a scam?

CoinCola – exchange for trading digital assets, which appeared on the Internet in 2014. During this period of time, the company actively developed and gained the trust of a large number of users from different countries. The organization focuses on the international market. The interface of the official website is presented in 4 languages. The main office of the project is located in Hong Kong, from where the exchange is controlled.

The company tries to provide its users with comfortable and loyal trading conditions. Clients get the opportunity to trade in 12 trading pairs. Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Tether and Dash make up the bulk of the market. Traders also get the opportunity to trade on margin with a leverage up to 50x. Among the interesting features of the exchange is the “Gift card trade” section, in which participants can buy bitcoin with a gift card or exchange cryptocurrency for a gift card.

There are a large number of training materials on the site, which makes the site as comfortable as possible for new participants. From time to time the company conducts various promotions, as well as accrues bonuses to active users. Each client can participate in an affiliate program. The program rewards traders for attracting new members to the project. For users to get quick access to their own profile, a mobile application was developed.

Although the organization appeared on the Internet back in 2014, you can find quite few reviews online. In general, the exchange has a positive reputation among customers, although there are some shortcomings. Having analyzed the opportunities that the project has implemented, can we say that CoinCola is a scam and fraud? No, because the service successfully operates for 6 years and provides its services to customers around the world.

 

Conclusion

CoinCola – is a cryptocurrency exchange, which began its work in 2014. During this period, the organization has actively developed and gained popularity among traders around the world. The company focuses on the international market, and the interface of the official website of the project is presented in 4 languages. The platform provides for its users not only comfortable, but also favorable conditions for cooperation.

However, many novice traders do not take into account the fact that trading is a risky activity and they lose their initial investment. To avoid such a situation, you should carefully read the documentation provided on the website before you start registering. If you were or are a client of the company, leave your opinion about the platform on our website to form an independent rating of cryptocurrency exchanges.