Coinmate bitcoin exchange is registered in London but carries out its operations from the Czech Republic. The company was founded in 2014 by two graduates of economics in Prague. Coinmate team comprises of a diversified group of software developers, traders, and economists. Coinmate, despite arriving late to the scene has managed to carve out their own niche. They have set up for Euro customers, allowing cheap and instant bank deposits. Coinmate is a great option for traders due to its low fees and localized way to get money into accounts.

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Score - 7.3Score7.3
Score Android - Score Android
Score iPhone - Score iPhone
Location - CzechLocationCzech
Currencies - EUR, CZKCurrenciesEUR, CZK
Languages - EN, DELanguagesEN, DE
Buy with - EUR, CZKBuy withEUR, CZK
Fees - Maker 0.05% - Taker 0.35%FeesMaker 0.05% - Taker 0.35%
Altcoins - LTCAltcoinsLTC
Margin trading - NoMargin tradingNo (Exchange does not support margin trading)
Trust score - ATrust scoreA
Beginner friendly - YesBeginner friendlyYes (Exchange is simple for beginners)
Stability - 4. VeryStability4. Very (Exchange is very stable)
Fiat - YesFiatYes (The Exchange supports Fiat currency as USD, EUR, etc.)
Support speed - WeekSupport speedWeek (Technical support responds during the week)
Safety - ASafetyA (Very secure)
API - YesAPIYes (API is available for public to use)
Rest API - YesRest APIYes (The Exchange has Rest API support)
Websocket - YesWebsocketYes (The Exchange has Websocket support)
Mobile app - NoMobile appNo (Exchange does not have a mobile app)
Credit card - NoCredit cardNo (Exchange does not support credit cards)
Referral - YesReferralYes (Exchange offers an affiliate program)
Two factor authentification - YesTwo factor authentificationYes (The Exchange supports two factor authentication)
Withdrawal limit - By degree of verificationWithdrawal limitBy degree of verification (Exchange has a withdrawals limit)
Verification time - DayVerification timeDay (The Exchange verifies the user during the day)
Lending - NoLendingNo (Exchange does not support lending)
Stop limit - NoStop limitNo (Exchange does not support stop limit)
US licence - NoUS licenceNo (Exchange don't have US licence for Money transmitter)
PGP support - NoPGP supportNo (Exchange does not have PGP encryption)

There are two separate trade interfaces offered by Coinmate; a “quick buy/sell” which is just really a market order interface which shows the best available price from the order book in a big blue bubble. Clients simply enter the amount they wish to buy/sell, and hit confirm, to have their account credited with the corresponding bitcoin.

Depending on the amount of bitcoin desired, the prices change according to supply in the order book. Coinmate trades in BTC/EURO. Coinmate makes use of the maker/taker trading model where orders that give liquidity to the market (makers) get a lower trading fee (0.05%) than those which reduce the liquidity of the market (takers) with a fee (0.35%).

Manuals for CoinMate

Security rating of CoinMate

On the client side, all accounts are secured by 2fa, and passwords are hashed prior to storage on the coinmate serve. Apparently, all cash and bitcoin are kept separately from coinmate operational accounts, and 95% of customer coin is kept offline and distributed in multiple locations - within safety deposit boxes. We are unable to independently verify these claims.

Review of CoinMate

Coinmate is an innovative outfit that has managed to carve their own little niche in the market despite arriving late to the scene. They've set up Sofort for eur customers, allowing instant and cheap bank deposits - a welcome change from the 1-3 day SEPA wait. Through the integration of MoneyPolo, they have leveraged a massive network of local brick and mortar cash deposit points across the globe, offering a localized method of getting cash into the bitcoin ecosystem for most anyone, anywhere. Minimal KYC is required for MoneyPolo depositing accounts. From the moneypolo side if you are using the cash deposit option - which is really why the option is there - you'll need to verify identity only at the brick and mortar money order branch, which should be more convenient depending on your particular location.

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