coinpass review 2022
A UK-based cryptocurrency exchange that aims to offer fast and reliable crypto trading and investing for both retail and business customers.
- You can make free, near-instant GBP and SEPA bank deposits
- It offers a limited number of cryptocurrencies
|Product Name||Coinpass Cryptocurrency Exchange|
|Fiat Currencies||GBP, EUR|
|Cryptocurrencies||BTC, XRP, ETH, LTC, BCH, DOT, LNK, XLM & 3+ more|
|Trading Fee||1.35% for those who have traded less than £50,000|
|Deposit Fees||No deposit fees|
|Withdrawal Fees||Fee varies depending on the specific crypto asset, £5 for GBP withdrawal, €5 for EUR withdrawal|
Overview of coinpass
coinpass is a UK-based cryptocurrency platform and exchange that lets investors buy and sell major cryptocurrencies like Bitcoin, Ethereum and Litecoin. It caters to both new investors and more experienced traders, with its instant or immediate account. Plus, it also has OTC and brokerage services for businesses and institutional investors.
Its quick and easy sign on process means you can get started almost immediately. There are no fees for fiat deposits or crypto deposits made to your coinpass account. However, be aware of withdrawal fees when moving funds bank to your bank account or if you want to withdraw crypto assets. There are also trading fees attached whenever you buy or sell crypto.
- If this is your first exchange: You will benefit from fee-free deposits that happen almost instantaneously and beginner-friendly crypto purchases.
- If you’re switching exchanges: You can choose between a more basic functionality or the bells and whistles version for intermediate traders. However, the platform lacks many of the features and assets offered by other major players.
Pros and cons of coinpass
- FCA-registered and UK based.
- Quick and free bank deposits.
- Offers convenient and instant crypto transactions.
- It only takes a few minutes to sign up.
- Choose from the more basic functionality for crypto newcomers or the bells and whistles version for intermediate traders.
- Beware of crypto withdrawal fees, especially on smaller withdrawals – coinpass could be more upfront about these.
- The interface isn’t as clean and user-friendly as some rivals’.
- You may not receive the best rates using the basic trade feature.
- Fairly limited selection of cryptocurrencies.
- No FSCS protection.
Verdict: Is coinpass any good?
coinpass is a convenient and relatively easy-to-use cryptocurrency exchange offering quick signups, fast and free GBP deposits and beginner-friendly crypto purchases. However, even its “intermediate trader” platform lacks many of the features and assets offered by the major players such as Binance and Coinbase, which might rule it out for more serious crypto investors and traders. Meanwhile, crypto newcomers may be more drawn to the cleaner interface offered by exchanges like Ziglu or Zumo.
What to know about coinpass
Founded in 2018, coinpass is UK-based cryptocurrency platform and exchange that lets investors buy and sell mahor cryptocurrencies like Bitcoin, Ethereaum and Litecoin. The important thing to know about it is that it has two different types of accounts. Its Instant account is tailored to new investors, allowing them to make instant crypto transactions and fee-free deposits. While its Trade account enables users to utilise limit orders in order to buy and sell crypto at a fixed price in the future.
|Transferring money or assets||*****|
|Fees and costs||****|
|Ease of use||***|
|Staking / earn rating?||*|
|Trustworthiness / security||****|
What is it like to use coinpass?
While coinpass’ user interface may not be as slick as some of its competitors, it is easy to get started and offers quick transfers.
Does coinpass have good customer support?
There are multiple options for contacting coinpass customer support. These include a live chat feature, contact us form and email support. Reviews on Trustpilot are largely positive, with several users saying they even received support at the weekend.
|Support offered||Wait times|
|Contact us form||Yes||Same day|
|Email suppport||Yes||Same day|
List of services on coinpass
coinpass doesn’t have an extensive list of services, so you won’t find earning opportunities or a Visa debit card option. However, it does have promotions that look to reward customers.
Promotions on coinpass
What you will find at coinpass is live promotions, rewards and giveaways. At the time of writing, it has two rewards on offer. The first is a bonus for when you make your first deposit. If you deposit £100 or more, your account will automatically be credited with a £10 bonus.
coinpass also offers refer a friend trading commissions. If you refer a friend, they get their first trade for free and you get 20% of their trading fees for “life”.
coinpass has never been hacked.
coinpass has several security measures in place. Assets are secured with Offline Cold Storage which has bank-grade encryption. It also adheres to anti-fraud and compliance measures and uses biometric and multi-factor authentication on user accounts.
Cryptopay has been registered with the Financial Conduct Authority (FCA) as a cryptoasset business. Crypto trading isn’t regulated, but the FCA keeps a register of firms and they must pass checks for anti-money laundering and anti-terrorism activity.
Signing up on coinpass
coinpass comparison table
Cryptocurrencies are speculative and investing in them involves significant risks - they're highly volatile, vulnerable to hacking and sensitive to secondary activity. The value of investments can fall as well as rise and you may get back less than you invested. Past performance is no guarantee of future results. This content shouldn't be interpreted as a recommendation to invest. Before you invest, you should get advice and decide whether the potential return outweighs the risks. Finder, or the author, may have holdings in the cryptocurrencies discussed.