Coinegg is this a scam? Reviews and description

CoinEgg has not yet gained a large number of subscribers and reputation, but it offers the ability to trade a variety of digital assets, including Cryptocurrencieswhich are not available anywhere else. This is the reason why CoinEgg has reached such a peak of popularity among traders. However, before cryptocurrency tradingIt is important to make sure that the exchange is a reliable exchange platform and can be trusted with money. Let's try to find out: is Coinegg a scam or a trustworthy reliable crypto exchange?

Why CoinEgg?

CoinEgg is a huge array of cryptocurrency assets available for trading (How to Make Money on Cryptocurrency?). Currently, about 40 cryptocurrencies are available and the company keeps adding new ones. This is the reason why CoinEgg is especially popular among traders. The list of cryptocurrencies includes all the most popular and some exotic coins. The huge selection is what attracts most traders. For example, traders can get access to buy coins at a bargain price before they are listed on a larger exchange.

The markets in which these cryptocurrencies are available include Bitcoin, Ethereum and USC's own CoinEgg token. Bitcoin and USC token have the most traded assets, while Ethereum can only be exchanged for 5 cryptocurrencies. CoinEgg has no fiat currency pairs for trading.

CoinEgg is one of the exchanges with the best liquidity in the world. As of the date this review was last updated, CoinEgg had a 24-hour trading volume of more than $1.53 billion. Only two exchanges (Binance and OKEx) had higher 24-hour trading volume that day. Let's take a closer look at the benefits:

• Round-the-clock trade and exchange services.
• 42 different assets are included in CoinEgg.
• Extensive experience in digital currency trading and security at the highest level.
• Serves users around the world and continues to introduce digital currency in various countries to provide global trading services.
• A wide range of digital currencies.

How to exchange cryptocurrency at coinegg.com?

Like most crypto exchanges, CoinEgg has its own proprietary web platform for trading. The platform is simple enough, but not very user-friendly for an experienced user, like the service of other cryptocurrency companies. At the top of the Coinegg platform, users can find a basic token chart and at the same time see recent history by setting up different time periods. The charting tools are fairly limited in functionality, but more than sufficient for the novice trader.

The available assets are located on the left and left side of the platform, and the order list and history are right below the chart. The layout of the charts, graphs and toolbox is actually well organized, but lacks some features. Despite all of the above, the platform runs smoothly, quickly and without glitches.

Verification on the CoinEgg platform

The registration process begins with a list of countries that are banned from bidding. This list includes Bangladesh, Bolivia, Ecuador, Kyrgyzstan, Hong Kong, Iran, North Korea, Syria, Sudan and the United States (including Puerto Rico, American Samoa, Guam, the Northern Mariana Islands and the United States. Virgin Islands. The first thing a potential user needs to enter on the site registration form is coinegg.com, is the country of residence, then the active email address and finally the referral ID (optional).

After you receive the confirmation email and enter the code, you must create and confirm a password. Once the password is set, the website recommends that security measures be enabled. It is hard to underestimate this recommendation because it is important to set up all possible security measures on any platform dealing with money. Moreover, a user is not allowed to perform any activity on an exchange before he or she has taken care of protecting the account. To keep fraudsters out of their account, CoinEgg users can enable/use the following features:

• Trade password. When you set this password, you are prompted to perform trade-related actions. These can be upper and lower case letters and numbers (8 to 20 characters).
• Authentication identification data. This step is a kind of KYC procedure. To confirm your identity, you must provide information such as your place of residence, full name, and identification card (passport or driver's license). In addition, it is necessary to upload several photos, which must meet the following requirements: letters are clearly readable, and the size of each file must not exceed 2 MB. Verification takes up to 2 business days.
• Google Authentication. On some platforms, this protection measure is called two-factor authentication. This tool is designed to make it impossible to log in to an account and withdraw funds without the presence of the account owner's mobile device. The user must install a special application (Google Authenticator) on the mobile device. This application generates unique temporary (30 seconds) codes that are requested by the exchange to make withdrawals or log in to the account.
• Mail Authentication. This security measure is activated automatically. In order to confirm the actions that users perform, they must each time receive a code from an email sent by the platform. Only one email address per account is allowed.

Overall, this set of security features is a fairly solid foundation for account and asset security. If a user visits Web sites with caution and does not give out any data that could be used to gain access to the account by third parties, assets are likely to be safe.

Deposit and withdrawal

Commission costs are, of course, very important to consider when choosing an exchange Many leading crypto exchanges do not charge different types of commissions. CoinEgg is one such exchange, offering a fixed trading fee of 0.50%. CoinEgg does not accept any deposit method other than cryptocurrency. If you don't have cryptocurrency but want to start trading here, you will first need to buy digital coins from another exchange and then deposit them into CoinEgg.

Cryptoexchange Commission

The commission policy makes the CoinEgg platform competitive. Only 0.1% per transaction is charged to both sellers and buyers. Some users consider the low trading fees to be the best feature of this platform.

Withdrawal fees may vary by asset. Some are fixed (e.g. Bitcoin transactions are charged 0.001 BTC, LTC transactions: 0.001 LTC, ETH transactions: 0.01 ETH, and BCH transactions are charged 0.002 BCH). Like many other cryptocurrency exchanges, CoinEgg does not charge anything for depositing funds. It is important to remember that this platform does not support fiat currencies.

Bonuses at CoinEgg.com

Currently on the website coinegg.com there is no information about the availability of bonuses. For up-to-date information, you can follow the news on social networks and on the website.

Referral program

The company offers an interesting referral program for its traders. Here are the conditions of the current scheme:

• Traders receive a percentage of referral commissions.
• The commission will be credited to BTC/ETH/USDT accounts (depending on the market being traded).
• Rewards are calculated daily and credited the next day.
• Traders receive their profits within 180 days from the date of registration of the invitees.
• Invitees can sign up through a referral link, ID or referral post.
• Coinegg strictly checks for duplicate or fake accounts and does not pay commissions once fraud is detected.
• The rules may be adjusted in the future, you should periodically check the terms of the referral program yourself.

Complaints about Coinegg

To date, there is no information confirming fraud on the part of the platform. This means that CoinEgg effectively maintains security. We can assume that the team that has managed to secure the platform for so many years will be able to continue to successfully protect user data and assets. Nevertheless, some users experience problems when trading on CoinEgg. It is important to understand if these problems are systematic and if the support team takes enough time to resolve issues in time to help users.

Some Reddit threads have negative posts about the experience of trading on CoinEgg. The headlines may sound unpleasant: "don't trade there," "no DC withdrawals from CoinEgg," and so on. But a closer look will reveal that some of the accusations are based on rumors or misunderstandings, while others have to do with problems arising from a lack of attention to terms of use. For example, one U.S. trader was frustrated by the inability to withdraw his assets without identity verification. U.S. citizens cannot use CoinEgg, but this person did not pay attention. Nevertheless, exchange administrators tried to help this user. Some other users called CoinEgg a scam just because they could not withdraw their coins for days because the wallet was temporarily blocked due to maintenance. Other accusations were due to the annoyance of a user who did not want to check his account. This is why this user recommended not to use this exchange.

Other valid claims are related to extended periods of time needed for verification, withdrawals and other actions. It seems that the company is not going to cheat anyone, but sometimes it experiences some technical problems. It would be a mistake to consider this shortcoming a problem only for CoinEgg.

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Regulation of Coinegg.com crypto exchange

CoinEgg is an international blockchain asset exchange designed to provide a professional, secure and reliable blockchain asset trading service for users. But no matter how safe the platform seems, you need to be aware of the responsibilities and liabilities of both parties. The company presents 4 documents for review:

• Terms of Use.
• Privacy Policy.
• User Agreement.
• Fee standards.

Regulator

CoinEgg has no regulatory documents, like most cryptocurrency exchanges. There is no license.

Coinegg.com User Agreement

The Terms of Use document serves as the User Agreement. You can view this document in full at coinegg.com. Cryptoexchange does not hide the lack of license and explicitly says so. The company is not licensed and does not provide general or personal financial advice. Nothing on the site is intended or should be construed as financial, legal or tax advice. Users should seek their own financial, legal, tax, and accounting advice about the likely outcomes of token trading.

Specifies the company's guarantees and user responsibilities:

Customer Service

You can contact customer support via email or online chat on the website. The platform is available 24/7, but there have been complaints about the long response time of tech support. Coinegg also has an FAQ in the support section, but the list of questions and answers can be described as sparse and clearly in need of updating and replenishing.

Is CoinEgg a scam?

The first thing that catches your eye when you meet CoinEgg - is the intuitive interface. This is one of the reasons why this exchange manages to hold its place in the industry for a long time. Another reason is the good selection of supported currencies and ICOs. The total number of these currencies is not that high (about 40), but the selection has always been top notch. Some of the supported coins are quite rare.

Coinegg doesn't provide much information in charts. There is almost nothing but a candlestick chart, market depth and some peak numbers. Moreover, important tools such as limit orders and stop loss are also not represented on this platform. This means that traders take more risk when they trade on this exchange and can be seen as a disadvantage. Experienced traders may lack the tools and information for deeper analysis, but can we conclude for this reason that CoinEgg is a scam? Definitely not! Let the functionality is not the widest, but it works without fail. The company treats its users with respect, taking care of the safety of traders' funds.

Conclusion

В CoinEgg there are many things to improve, but despite this, the service is becoming more and more popular among novice traders. This is due to the large choice of cryptocurrencies and ICOs.

This platform will not suit professionals who are used to relying on complex charts provided by exchanges and protecting themselves from losses through limit orders, but for beginners it can be simple and straightforward. What's really important is that CoinEgg provides all the necessary tools to protect your account and takes care of the security of its servers.