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CoinList aims to help investors to get involved with the cryptocurrency space. The US-based crypto company provides the needed insights on newly launched projects. The platform offers staking, wallet storage, and a standalone crypto trading exchange. This CoinList review will assess the trading fees, limits, and how the exchange compares to its competitors. We will also give our feedback on its multiple crypto services so you can make an informed decision.
CoinList has remained one of the top exchanges for crypto investments in the past couple of years. While staking is a major feature across several crypto exchanges, the token wraps service makes CoinList a leader in the burgeoning crypto space. More so, its service offering for institutional investors means anyone can turn to the platform for interfacing with the emerging crypto landscape.
However, there are some major limitations with CoinList. The mobile app has been discontinued due to technical issues, has extremely poor customer reviews, and does not offer an NFT marketplace. These issues are important for modern-day crypto traders that should not be ignored when making a final decision to use CoinList.
- Solid ICO platform for new token launches
- Beginner and user-friendly with sleek trading interface
- Provides staking services to generate passive income on-chain
- Safeguards crypto funds with offline cold storage
- Over-the-Counter (OTC) service for institutional investors
- Poor customer feedback on token sales
- ID verification takes 3 business days
- Has limited tokens on its lineup
- Mobile app has been discontinued due to technical problems
In 2017, CoinList launched in San Francisco, United States, with its headquarters. The company's principal founders are Graham Jenkin, Joshua Slayton, Brian Tubergen, Paul Menchov, and Andy Bromberg. CoinList is a cryptocurrency exchange that originally started as an initial coin offering (ICO) platform for new token sales. However, it has since expanded its crypto services to cater to staking, wallet storage, and trading options.
Its main purpose is to cater to compliance with international financial laws, the technical aspect of blockchain-based assets, and regulatory frameworks needed for the successful launch of new crypto projects. The platform has successfully managed the launch of over 60 projects. At the moment, 900,000 network participants have already received their network tokens.
There are several top features on CoinList that we will examine in this review, including:
- Early access to new token sales before listing on centralized exchanges
- Cryptocurrency staking platform
- OTC and CoinList Pro for high-value crypto investors
- Aids with compliance with anti-money laundering (AML) laws
- Wallet storage for crypto assets
|Accepted Fiat Currency||USD|
|Payment Types||ACH with Plaid, Bank wire transfer and crypto|
|Trading Fee||0.5% per transaction|
|Withdrawal Fee||$10 for outgoing US wire and $30 for outgoing international wire transfer, coin-based|
|Mobile App||Yes, but the Android and iOS apps are currently under maintenance|
CoinList Best Features & Products Reviewed
Investing with CoinList offers many benefits to all investors. Below, we highlight the notable features to look out for when interacting with the platform.
CoinList Exchange To Buy & Sell Crypto
Although it started as a crypto presale token platform, CoinList has pivoted toward mainstream crypto trading. The platform offers a streamlined and intuitive exchange service that is well-suited for beginners and experienced investors alike to buy into cryptocurrencies.
With CoinList.co, crypto novices can purchase and sell their preferred coins with minimal add-ons. The platform offers a basic trading experience for instant buy and sell orders. The order page allows users to select their preferred crypto asset from the supported lineup with the amount they intend to invest with.
Furthermore, the exchange offers a pro service called CoinList Pro that provides market orders, limit orders, and order books for more advanced traders. There are also advanced features such as the ability to integrate directly with the TradingView analytical interface, multiple indicators, and a timeframe through which detailed market timing can be developed.
Staking cryptocurrencies involves locking up funds in an interest-yielding interest account to make more money. Platforms like CoinList help users stake their idle digital assets to secure a crypto network. In return, they accrue tokens of the underlying network. This is a way of rewarding crypto investors actively involved in the operation of the network.
CoinList supports the staking of 11 cryptocurrencies, including NuCypher, CELO, XTZ, and seven others. This is modest compared to the larger crypto-staking platforms that have more extensive staking lineups. On the other hand, since investors cannot earn passive income from holding ETH, ADA, and SOL, it leaves limited options for asset owners.
The annual percentage yield (APY) ranges between 3.88% to 26%. The platform charges high commissions for this service, but this varies per coin. The commission per yield ranges between 8% to 15% APY which is very high.
CoinList has an ICO and IDO platform that allows users to access the best new crypto tokens before they list on mainstream crypto exchanges like Binance or OKX. This can be a great tool for value-driven investors, who can snap up these digital currencies for less than their listing price on centralized trading platforms. Subscribers are kept informed of every token listing on the platform. CoinList notifies each client once a new project is launched on the platform.
DeFi Lending and Borrowing
Expanding its service offering, CoinList allow its customers to participate in the burgeoning decentralized finance (DeFi) landscape through token wraps. Users can easily wrap BTC and FIL and deploy them on DeFi-facing protocols like Compound and Aave for borrowing and lending.
Wrapped tokens usually operate on a one-to-one ratio. For instance, a wrapped BTC (WBTC) is the same as a regular Bitcoin. But instead of the regular BTC token standard, the WBTC would function as an ERC-20 token, making it compatible with all ERC-20 protocols. CoinList charges a flat 0.25% fee for this token conversion, which is expensive compared to the best crypto lending platforms.
CoinList has a crypto wallet storage service for investors' crypto funds to be stored offline. These include BTC, ETH, MKR, and eight others. The CoinList wallet is easy-to-use, beginner-friendly, and investors can also access all platform features.
The CoinList storage service is a hot wallet that interacts directly with the CoinList Pro exchange. Because hot wallets are always connected to the internet, they are easy to use. Additionally, these types of wallets do not require users to switch between devices in order to conduct crypto transactions. The downside is that CoinList and other exchange wallets can be susceptible to hacks and are not encouraged as the primary way to store crypto.
Over-the-Counter (OTC) Desk
Coinlist has an over-the-counter (OTC) desk that targets institutional investors directly with large-scale cryptocurrency trading. It allows business organizations to buy cryptocurrencies anonymously and securely while complying with all stipulated laws. This comes with deep liquidity and is more personalized to each company’s unique needs. The OTC service comes with a minimum bar of $1 million and is therefore not suitable for beginners.
The platform only supports USD fiat currency which may be a limitation for international users. Popular payment methods include Automated Clearing House (ACH) through Plaid, crypto deposits, and bank transfers.
CoinList also offers token conversion and token wrapping features. This is geared toward investors looking to tap into the DeFi ecosystem. The platform allows its users to wrap their accrued tokens in a 1:1 ratio. For now, CoinList enables this feature for only BTC and the FIL token. However, this comes with a 0.25% standard conversion fee.
CoinList Compared & Alternatives
Given the explosive growth of the blockchain-driven economy, several platforms offer a similar or even greater service than CoinList. Below, we show how CoinList compares to its closest competitors in the market for crypto support, trading fees, and overall ratings.
|Exchange||Crypto Assets||Trading Fees||Rating||Promotion||Website||Review|
|385||0.1% (spot) and 0.02% / 0.04% (Futures)|
|Up to $100 welcome bonus||Visit Binance||Binance Review|
|331 (608 trading pairs)||0% (spot), 0.06% / 0.01% (futures)|
|0% trading fees for 30 days (spot only)||Visit ByBit||ByBit Review|
|241||0.4% (maker), 0.6% (taker)|
|$5 BTC bonus (USA only)||Visit Coinbase||Coinbase Review|
|60+||0.5% per transaction|
|None available at this time||Visit CoinList||CoinList Review|
|BTC, ETH, TRX & 287 others||0.1450% (Maker) / 0.1550% (Taker)|
|None available at this time||Visit Poloniex||Poloniex Review|
Is CoinList Legal In the US?
Yes, CoinList is a legally-recognized digital asset service provider with licenses from the FinCEN and NMLS bodies to serve as an MSB platform. Also, it is accessible in most American states except in Alaska, Alabama, Arizona, New York, and 25 others where there are regulations.
This same restriction is also prevalent in other jurisdictions. Foreign investors resident in regions like the Crimea region of Ukraine, North Korea, Iran, Cuba, and the Syrian Arab Republic cannot also access the CoinList platform.
CoinList is a regulated US entity, meaning all new users must undergo a comprehensive know-your-customer (KYC) process. This is a way for the platform to learn about its customers while eliminating the incidence of identity fraud and upholding global anti-money laundering laws.
The platform's features will be severely restricted for accounts that do not complete the CoinList verification process. This feature limit puts a cap on funding privileges, the ability to withdraw funds, and even access other platform features like staking.
Given this, users need to verify their full legal name and proof of address and upload a selfie photo of themselves. All these can be done online on the web or mobile app platform. The verification process usually takes between 5 minutes for individuals and 1 week for business entities.
Funding & Limits
USD is the default fiat currency on CoinList. Both US and non-US residents can fund their CoinList accounts using an ACH transfer through Plaid, bank wire transfer, and direct crypto deposits. However, BTC and ETH are the most popular crypto deposit options.
CoinList has a minimum and maximum threshold for investment for crypto deposits. This is largely coin-dependent as different assets have lower or higher limits. For instance, Algorand has a minimum investment threshold of 14 ALGOs and 14,300 for its maximum cap. In contrast, Ether has a minimum bar of 0.0041 ETH and 12 ETH for a maximum.
When it comes to fiat deposits, CoinList has a minimum investment of $5 and $15,000 per individual user.
CoinList Pro Trading Experience
CoinList is segmented into two parts, the regular traders and the professional traders. Below, we cover the Pro trading interface for sophisticated investors.
CoinList Pro User Interface
CoinList offers a premium version called CoinList Pro. This typically comes with market and limit orders, stop loss, and take profit orders. A fully integrated TradingView analytical trading interface is also fitted with multiple indicators and different timeframes. Investors can easily view the order book containing the digital assets of many sales and purchases.
Changing between trading pairs was a bit of a delay because the trading screen chart is small and squeezed in between the order form and book. Despite offering a decent service, CoinList Pro lags behind other exchanges. Its TradingView integration contains indicators like
- Trading Volume
- Simple Moving Averages (SMAs)
- Moving Averages (MA)
- Relative Strength Index (RSI)
- Moving Average Convergence and Divergence (MACD), amongst others
Users can easily place a trading order by selecting ‘Buy’ or ‘Sell on their preferred cryptocurrency. They can also set the market, limit orders, and stop-loss and take-profit orders for instantaneous trade execution. Immediately after these steps are taken, the CoinList exchange instantly places the trade according to the user’s requirements.
Trading Pairs & Markets
CoinList currently supports over 86 crypto market pairs and 8 trading pairs, including BTC/USD, ETH/USD, ETH/BTC, and many others.
For trading fees, CoinList.co charges a 0.5% commission on buy and sell orders. CoinList Pro works on a Maker/Taker system and charges base trading fees of 0.25% and 0.45%, respectively, associated with a 30-day moving average for the specified period. High-value investors pay 0% and 0.05% for trading fees, respectively. Investors need to trade above the $100 million monthly minimum threshold. Overall, the trading fees on CoinList are too expensive when there are cheaper options available such as Binance, ByBit and Bitfinex.
Cryptocurrency withdrawals are subject to fees and are dependent on the coin. We could not find any data on how much or if CoinList charges for the deposit.
Finally, CoinList charges a staking fee between 8% and 15%, depending on the crypto asset earmarked. This is quite pricey given the high commission, given that several exchanges like Binance do not charge for staking services.
Previously, CoinList offered mobile apps for investors on the go, as did all new-generation investment services. The mobile app was available on both Android and iOS devices. Currently, the Android version has been disabled on the Google Play Store due to technical issues. While previous users may not be affected, new users cannot download it on their Android devices. The same is also applicable to its iOS app. Due to customer service issues, the platform discontinued mobile support for all app platforms.
Regarding security, CoinList largely caters to account protection. This includes the popular 2FA option to verify all trading entries. A six-digit passcode is sent as an SMS to the registered number or to an authentication app.
CoinList keeps most of its digital assets in cold storage and works with reputable custodians such as BitGo and Gemini Custody to protect customer funds. This may be focused on increasing consumer confidence. On the other hand, we did not find anything related to hacking the previous platform.
Frequently Asked Questions
CoinList Pro offers a variety of advanced tools, such as market and limit orders, and order books. However, the trading charts are minimal and feel clunky. Investors also can't trade margins, futures, or other advanced trading products.
Yes, accounts opened on CoinList are generally safe. The exchange uses industry-leading security measures to protect investors' funds and data. The security options include a comprehensive 2FA solution, cold storage means coins are stored offline with top custody custodians like BitGo and Gemini.
CoinList provides multiple ways for investors to earn extra income to attain their financial goals. Holders can stake up to 11 coins and earn staking rewards. At the same time, investors can directly trade crypto assets for profits. Crypto users can also use wrapped assets to lend and borrow on platforms like Compound.
In summary, our CoinList review has shown that, while the service started as an ICO platform it has since pivoted into a large crypto trading service. Today, CoinList has an impressive crypto service that caters to the broader market.
The exchange offers token sale services, staking, wallet storage, an OTC service, and token conversions. However, it only supports USD fiat deposits and lacks an NFT trading option. In addition, the platform's Pro version (CoinList Pro) is still sub-par compared to its competitors and the lack of a working mobile app is a major limitation. Overall, there are better alternatives to CoinList for crypto trading, however, remains a top choice for early ICO investors.
|Review Category||HedgewithCrypto Rating|
|Features||4.5 / 5|
|Supported Fiat Currencies and Deposit Methods||3.5 / 5|
|Supported Cryptocurrencies and Trading Pairs||3.6 / 5|
|Fees||4 / 5|
|Ease of Use||4.5 / 5|
|Customer Support||4 / 5|
|Security Measures||3.8 / 5|
|Mobile App||2.5 / 5|