Coinumm

Coinumm – it’s a new cryptocurrency exchange to exchange popular digital currencies. The company appeared on the market in 2019, but despite this, the project is actively developing, introducing new areas of exchange, and gaining popularity among customers around the world.

However, many people have doubts and think that Coinumm Cryptoexchange is a scam. Let’s try to deal with this issue.

 

 

Why Coinumm?

Coinumm is a convenient and reliable digital currency exchange service. The exchange is officially registered as a legal entity in Estonia and has all the necessary licenses of the Estonian regulator to provide exchange services for cryptocurrencies. This means that all financial transactions of the service are legally controlled.

Coinumm offers favorable exchange rates with minimum commissions and is ready to make every effort to make every exchange comfortable and fast. The interests and wishes of the client are put in the first place for the exchanger, which is proved by the informative website for new users, as well as 24/7 support on the website, available for customers around the world if the answers to the questions in the FAQ for the user did not seem inaccurate.

 

How to Buy Cryptocurrency on the Coinumm Platform?

Buy/sell cryptocurrency on Coinumm begins with registration and profile verification. Clicking “Register” account on the main page of coinumm.com, you will see a form where you need to specify your email and password, and agree with the service rules. After creating a profile, the client has an opportunity to partially use the service functionality, for example, to create a “Referral link” and earn on all attracted customers, because the terms of cooperation is quite profitable and the user can earn up to 20% from the company’s profit.

 

In order to make an exchange, you need to verify your client’s profile. To do this, you need to go to the “Personal profile” section of the website coinumm.com and click on the “Verify Your Profile” button, then you will have access to the document upload terminal.

 

If you have done everything correctly, you will receive a notification that your documents have been successfully uploaded. Within the next time (the average time stated by the support is up to 15 minutes), you will receive a confirmation and will be able to use all the functionalities of the service. For new users, a more detailed step-by-step instruction is available in the FAQ section. After successful verification, you choose the payment method, the desired currency and its amount, and then click on the “Exchange”. Statuses of all exchanges of the user will be displayed in the section “My exchanges” on the website coinumm.com.

 

Verification on coinumm.com

Crypto Exchange Coinumm requires registration and verification of each customer, on the basis that it operates under AML policy and EU regulator requirements, in order to ensure the security of user assets. You must verify your identity in several ways:

• Provide proof of identity (ID card or international passport)
• Upload a document confirming address no older than 3 months from the date of issue (utility bill, bank statement, document indicating residence registration, driver’s license, residence permit with a note of residence address).
• Provide selfies with proof of identity.

In addition, at any stage of use of the service you are obliged to provide the necessary information at the first request of the company.

 

Terms of Buying Cryptocurrency

The exchanger can be used by adults who are not residents of the following territories: Afghanistan, Algeria, Bahamas, Bahrain, Kosovo, Bangladesh, Bolivia, Georgia, Bosnia and Herzegovina, etc. This condition is specified in the user agreement as well as in the FAQ section.

It supports fiat currencies including the American Dollar and the Euro, and two virtual currencies which are Bitcoin (BTC) and Ethereum (ETH). The company Coinumm does not offer cryptocurrency storage services to customers. Cryptocurrency after purchase is sent to the purse specified by the customer. Replenishment and withdrawal are made by VISA/MasterCard and SEPA transfer.

Deposit and Withdrawal Limits

On the site coinumm.com there are quite high limits for making exchanges. You can deposit to your account from 50 EUR or the equivalent in other currencies. Maximum deposit amounts: 10,000 EUR/10,000 USD. Existing exchange reserves change every minute, we recommend checking the current exchange rate on the site.

Coinumm Commissions

For every exchange when buying cryptocurrency in Coinumm, an additional fee will be applied, which consists of:

• Processing Commission.
• The commission fee for the services of the company itself.
• Network Commissions.

The amount of the fee is specified in the user agreement.

 

Coinumm Bonuses

As such promotions and bonuses are not offered on the site. However, the service has a profitable affiliate program.

Referral Program

Every Coinumm user has the opportunity to earn money by referring other customers.
To do this, after registration, you must go to the “Partners” section, create your unique affiliate link, and then place it to attract your friends/acquaintances in public sources (How to Make Money on Cryptocurrency?). If it is used by users who subsequently register and make transactions, you will earn up to 20% from each transaction. Payments are made at the request of the user, through the form in the client’s profile.

 

 

Complaints About Coinumm

Since the exchanger has conducted its activities for about 1 year in the market, negative reviews could not be found, but according to customer reviews, we can conclude that the main features of the service, it is:

• Quick verification
• Good courses, compared to competitors
• Operational and round-the-clock support
• Fast processing of applications

The feedback is taken from the international service that verifies the user (requests data confirming that the user used the exchanger’s services) and to which Coinumm refers.

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Coinumm Regulation

The field of cryptocurrencies is profitable and therefore popular with scammers. Therefore, before depositing your money, you should familiarize yourself with the regulatory documents and licenses of the exchanger. The service is officially licensed and operates legally

Coinumm Regulator

Coinumm Exchange is registered in Estonia (registration number 14809797) and has a valid license number FVT000317. This is also confirmed by publicly available information in the official state register of Estonia. All legal relations between the client and the company are regulated by the User Agreement, which must be read at the moment of registration.

 

• Check the license of a cryptocurrency on the regulator’s website
• Read the privacy policy on the Coinumm Exchange website.
• Read the User Agreement at coinumm.com

Coinumm.com User Agreement

The User Agreement describes the procedure and limitations of the client working with the service. Transactions are processed within 48 hours. If this period is violated, you have the right to request a cancellation, and the money will be returned within another day. For the withdrawal, the payment method with which the deposit was made is used.

Coinumm is not responsible for losses and lost profits resulting from force majeure (clause 9).

Any disputes are resolved through negotiations (clause 10). In other words, we are obliged not to go to court, but to solve all disputes through dialogue with company representatives.

 

Is Coinumm a Scam?

Coinumm – is a new cryptocurrency exchanger on the market with convenient payment options and multiple channels of communication with the support team (round-the-clock chat on the site, email, and social networks). The exchanger is as simple as possible for newcomers and fast in terms of verification procedure, but it requires users to strictly adhere to the rules (violators are blocked without the possibility of restoring the account). However, this is a standard procedure of AML policy implemented by EU regulators.

The license of the company owner can be checked on the official website of the Estonian regulator. The agreement, although it removes liability from the provider for any loss of funds by the client, still does not establish bonded obligations. Coinumm is not a scam, but quite a decent representative of cryptocurrency exchange, according to the directions indicated on the website. It is recommended only to start with small amounts if you are using it for the first time so that there will be no questions after the exchange processing.

 

Conclusion

In our opinion, Coinumm offers quite good conditions: the size of commissions here is smoothed by favorable enough rates, and the confirmation of verification – platform security and international requirements on money laundering (AML).

Reviews of the service are exceptionally good at the time of the article’s creation, no negative reviews were found. Coinumm has all the chances to become one of the industry leaders if they continue to adhere to high standards and strive to provide the best rates in the cryptocurrency market.