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Comprehensive Review of Coinmerce Exchange (2021)

Richard Bradley
Verified writer

Fact checked

Updated Sep 13, 2021.
What changed?
What changed What changed?
Coinmerce-Partner-Logo
7.2.0
(729 User Reviews)
User-friendliness
10.0
Functions
6.4.0
Fees
7.2.0
Trust
5.6.0
Help & Support
6.7.0

Meet Our Reviewing Team

Richard Bradley
Verified writer

Richard Bradley is a writer and editor who has published in several online publications specialising in cryptocurrencies and stock trading. He focuses on topics that include investing, price analysis and blockchain developments. He is passionate about the promise of blockchain technology to democratise the global financial system and its potential to become a driving force for social and political change around the world.

Best Crypto Exchange Brokers 2021

Broker Rating Cryptocurrencies Special features A list of features that provide a given broker with a competitive edge. Regulated by A list of features that provide a given broker with a competitive edge. Warning & Ad Disclosure A list of features that provide a given broker with a competitive edge.
Rating
8.5 Nexo review
Cryptocurrencies
89 crypto pairs
Special features A list of features that provide a given broker with a competitive edge.
No deposit fees for all payment methodsCheap method to buy Bitcoin instantly.One of the few providers that offer PayPalVery user-friendly trading for beginners
Regulated by A list of features that provide a given broker with a competitive edge.
EUUSAUKAUS
Rating
8.9 Nexo review
Cryptocurrencies
89 crypto pairs
Special features A list of features that provide a given broker with a competitive edge.
the largest range of functions of all brokers (savings plan, crypto index)very clear, easy to understand, modern designthe provider (support, payment methods)many coins, also metals, shares, and ETFs
Regulated by A list of features that provide a given broker with a competitive edge.
AT
Rating
7.2 Nexo review
Cryptocurrencies
89 crypto pairs
Special features A list of features that provide a given broker with a competitive edge.
many cryptocurrencies, also smaller coinsDirect payment to own wallet possibleUp to 500 euros without verification with IDIntuitive operation
Regulated by A list of features that provide a given broker with a competitive edge.
NL

Buy from Coinmerce. Here’s how

  • Open an account at coinmerce.com
  • Carry out verification (level 1: with bank transfer, level 2: with ID)
  • Select and buy cryptocurrency
  • Transfer the purchase amount (SEPA for free, SOFORT transfer costs 2.5%)

Information on how to use

Info

Coinmerce is a broker, which means you don’t buy cryptocurrencies like on an exchange, but directly from the provider. When buying cryptocurrencies on Coinmerce, you can choose whether you want to use the provider as a “hosted wallet” or whether you want to pay out cryptocurrencies directly to your wallet. This brings flexibility for both beginners and crypto professionals that is not common with brokers.
However, the platform is structured so beginners can quickly find their way around, even without having dealt with cryptocurrencies before. The purchase is carried out as if you were purchasing normally on the internet: Select the product (cryptocurrency), select the amount, complete the purchase and pay depending on the payment method selected.

1
Step 1: Select coin and amount

amount

2
Step 2 and 3: Select payment method and transfer money

transfer money

Coinmerce in the test: user-friendliness

User-friendliness of the website: With its website, Coinmerce also wants to enable beginners to access cryptocurrencies. The user interface is correspondingly simple and intuitive. Besides the website, there is also an app, which is not so well-rated in the app stores. However, the website is also easy to use on mobile devices. Overall, Coinmerce scores full marks for user-friendliness.

The number of cryptocurrencies: Coinmerce offers over 100 cryptocurrencies for purchase, including many very obscure ones. This selection is good for a broker and is otherwise only found on real exchanges. This is made possible by the fact that Coinmerce does not offer its own wallet for all coins, but stores the coins with the exchange from which it buys them. However, large cryptocurrencies such as BTC or ETH (and all ERC-20 tokens), have their own wallets and also cold storage.

Payment methods: In addition to the commonly used SEPA bank transfer which is free, Coinmerce also offers SOFORT bank transfer and GiroPay. Both payment methods incur extra fees of 2.5 percent. Payment by credit card is not available at Coinmerce. A small point deduction.

Registration and verification: Registration is done as usual with an email address. Before you can buy your first coin, you have to verify your bank account by transferring 1 cent. After that, you are verified for level 1, which allows you to buy up to 500 euros per week. To buy more, you have to verify for level 2. To do this, you must photograph your ID and upload it. Within 15 minutes of uploading, level 2 is usually unlocked. Other providers offer a live employee who carries out the verification via webcam instead of uploading the ID.

Other functions: Coinmerce offers the function of buying coins directly to one’s wallet. This eliminates the risk of being the victim of an exchange hack, as has happened with many exchanges.

In the future, coin-to-coin transfers will be added, and the possibility to make regular purchases with savings plans to benefit from the average cost effect.

Coinmerce features: Pros and Cons

A relatively new broker from NL. At Coinmerce there are also many smaller cryptocurrencies available for direct purchase

Things we didn’t like:
Still relatively small, new provider
Cryptocurrencies supported by Coinmerce
Richard Bradley
Verified writer
quote

Richard Bradley is a writer and editor who has published in several online publications specialising in cryptocurrencies and stock trading. He focuses on topics that include investing, price analysis and blockchain developments. He is passionate about the promise of blockchain technology to democratise the global financial system and its potential to become a driving force for social and political change around the world.

Coinmerce: Fees and conditions

Fees for buying and sellingCoinmerce’s fees are included in the purchase price and are not shown separately. Depending on the coin and the amount you want to buy, they are between 0.4% and 2.5% above the price displayed on Coinmarketcap, for example. This is absolutely competitive for a broker (see next point).
Price compared to market pricesSince the fees are not shown separately, it is important to know at what rate cryptocurrencies can be purchased from Coinmerce. In a long-term test, we examined the actual purchase prices with various providers. Coinmerce ended up relatively far ahead in the ranking
Fees for withdrawalsThe fees for withdrawing cryptocurrencies vary from coin to coin and only amount to the transaction costs of the respective network, so it is not a source of revenue for Coinmerce. An overview can be found here.
Fees for alternative payment methodsFor customers, SOFORT Überweisung and GiroPay are of particular importance. For both payment methods the fee is 2.5%, so it is better to pay with SEPA (free) unless it has to be fast.

Top 3 Crypto Exchange Brokers 2021

The newly launched eToro Wallet is a new addition to this popular social trading platform.

The wallet can be used by any existing and verified member of eToro as it is synchronised with the site’s accounts.

With this wallet app, users can buy or sell assets, transfer assets between wallets, or exchange one crypto for another.

They can also use the wallet as an easy place to keep their digital coins safe. The biggest advantage of the eToro Wallet is its ease of use and security. You need not worry about security as the wallet is managed by the eToro servers. eToro is known for its industry-leading security standards.

43 crypto pairs
Pros:

• Easy to set up
• Supports the German language, just like the eToro platform.
• High level of security
• Direct buying and selling of cryptocurrencies in the wallet.
• It is synced with the user’s existing eToro account for easy access.
• 120+ supported coins

Cons:

• Custodial Wallet – you do not own your private keys

Bitpanda from Austria is an innovative provider for the direct purchase of cryptocurrencies.

Bitpanda is a provider with a so-called “hosted wallet”.

At Bitpanda, there is a separate online wallet for each currency.

43 crypto pairs
Pros:

• the largest range of functions of all brokers (savings plan, crypto index)
• very clear, easy to understand, modern design
• the provider (support, payment methods)
• many coins, also metals, shares, and ETFs

Cons:

• source of funds necessary for sales over 10,000 euros

A relatively new broker from NL. At Coinmerce there are also many smaller cryptocurrencies available for direct purchase

Coinmerce is a broker, which means you don’t buy cryptocurrencies like on an exchange, but directly from the provider.

When buying cryptocurrencies on Coinmerce, you can choose whether you want to use the provider as a “hosted wallet” or whether you want to pay out cryptocurrencies directly to your wallet.

43 crypto pairs
Pros:

• many cryptocurrencies, also smaller coins
• Direct payment to own wallet possible
• Up to 500 euros without verification with ID
• Intuitive operation

Cons:

• Still relatively small, new provider
• Cryptocurrencies supported by Coinmerce

Coinmerce – help, and support

Like virtually all other providers, Coinmerce does not offer telephone support. On the other hand, the support in other ways is exemplary: The website contains a large section with frequent questions. There is both mail support and a Telegram chat option (Telegram is very popular in the crypto community).
In our test, the response times were fast and our queries were answered well. However, we took the precaution of writing in English. However, since Coinmerce is based in the Netherlands, it can be assumed that queries would also have led to the desired result.

Recomended brokers 2021

According to their website support forum, this is “for security, regulatory compliance and fraud prevention”. The limits are based on several factors that include the payment method you used, how old your account is, your purchase history, and more. These limits are calculated automatically.

etoro ee
eToro
Register now
bitpanda blue
Bitpanda
Register now
coinmerce blue
Coinmerce
Register now

Coinmerce – Trust & Security

1
Deposit protection/insurance:

crypto assets are not insured with Coinmerce (as with most providers) and are not subject to government deposit protection.

2
Regulatory clarity:

As a Dutch provider, Coinmerce is subject to EU law.

3
How long on the market:

Coinmerce launched in June 2018 and is therefore still a relatively young provider. For the rating, this is a deduction, as in the world of cryptocurrencies, large exchanges that have proven their legitimacy on the market for a long time are preferable.

4
Known hacker attacks:

Nothing known

5
Bug bounties, security audits

We have no information on this

6
Security precautions (login protection)

Coinmerce offers the possibility to secure the account with 2-factor authentication, but you are neither forced to do so nor are you particularly obtrusively advised to do so. This has advantages for convenience, as you are still logged in even if you have not been on the site for a few days. However, this is rather negative from a security viewpoint. There is also no verification of the login for new computers via emails. Again, Coinmerce takes the more user-friendly but insecure route here.

7
Big investors / financial reserves

Coinmerce is a start-up without big names in the background. The founders are well-known, but there are some deductions here in the valuation. A large company such as Coinbase, for example, can compensate for major setbacks much better.

Coinmerce Conclusion

Coinmerce is a relatively new provider from the Netherlands that boasts excellent user-friendliness and a very large number of coins. In addition, Coinmerce has competitive rates and fees. Another positive aspect is that you don’t have to verify your identity card for amounts up to 500 euros and you can have cryptocurrencies paid out directly to your wallet.

Another special feature of Coinmerce is that you first buy and then pay (by bank transfer), instead of having to deposit euros first, as is the case with many others.

Richard Bradley
Verified writer

Richard Bradley is a writer and editor who has published in several online publications specialising in cryptocurrencies and stock trading. He focuses on topics that include investing, price analysis and blockchain developments. He is passionate about the promise of blockchain technology to democratise the global financial system and its potential to become a driving force for social and political change around the world.

Best Crypto Exchanges
1.
eToro
2.
Bitpanda
3.
Coinmerce
Crypto Prices (USD)
Bitcoin
$62024.65
–0.04%
Ethereum
$4157.19
–0.03%
Binance Coin
$481.81
–0.17%
Cardano
$2.16
+0.01%
Tether
$1
+0.02%
Solana
$204.92
–0.19%
XRP
$1.1
+0.08%
Polkadot
$43.58
–0.17%
Dogecoin
$0.27
+0.08%
USD Coin
$1
+0%
Coinbase
(729 User Reviews)

Cryptoasset investing is unregulated in most EU countries and the UK. No consumer protection. Your capital is at risk. CFD crypto trading is unavailable for clients residing in the UK and US. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.