CoinList Review

Hedge with Crypto aims to publish information that is factual and accurate as of the date of publication. For specific information about a cryptocurrency exchange or trading platform please visit that provider’s website. This information is general in nature and is for educational purposes only. Hedge with Crypto does not provide financial advice nor does it take into account your personal financial situation. We encourage you to seek financial advice from an independent financial advisor where appropriate and make your own enquiries.

Bottom line:

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 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 and should not be ignored when making a final decision to use CoinList.

CoinList Overview

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

Exchange Name	CoinList
Accepted Fiat Currency	USD
Payment Types	ACH with Plaid, Bank wire transfer and crypto
Supported Cryptocurrency	60+
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 investors 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.

Cryptocurrency Staking

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 commissions for this service, but this varies per coin. The commission per yield ranges between 8% to 15% APY.

ICO Platform

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 allows 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.

Wallet Storage

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 straightforward-to-use where 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.

Token Conversions

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
Binance	385	0.1% (spot) and 0.02% / 0.04% (Futures)	Rating We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. 4.8 / 5	Up to $100 welcome bonus	Visit Binance	Binance Review
ByBit	331 (608 trading pairs)	0% (spot), 0.06% / 0.01% (futures)	Rating We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. 4.8 / 5	0% trading fees for 30 days (spot only)	Visit ByBit	ByBit Review
Coinbase	241	0.4% (maker), 0.6% (taker)	Rating We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. 4.7 / 5	$5 BTC bonus (USA only)	Visit Coinbase	Coinbase Review
CoinList	60+	0.5% per transaction	Rating We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. 3.8 / 5	None available at this time	Visit CoinList	CoinList Review
Poloniex	BTC, ETH, TRX & 287 others	0.1450% (Maker) / 0.1550% (Taker)	Rating We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. 3.5 / 5	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 Verification

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

Placing Orders

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.

CoinList Fees

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 (0.1%), 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 notable, given that several exchanges like Binance do not charge for staking services.

CoinList App

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.

Security

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

How We Rated CoinList

Review Category	Hedge With Crypto 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