Should I trade on coin-coin.trade
Before trusting your money to this broker, carefully study what conditions it offers. After all, a good intermediary who has nothing to hide must publish this information on his website.
What to trade
The main page of coin-coin.trade is replete with bitcoin symbols. That is, it can be assumed that the broker specializes in cryptocurrencies.
But if you rummage around, you can come across references to CFDs, currency pairs and other assets. Moreover, their number, names and other data for some reason are not indicated. You need to get this information yourself. Such a scheme cannot be called convenient.
The broker divides his clients into 3 categories based on how much money they are willing to deposit. That is, if you have up to $ 10 thousand, you will be offered “Standard”. And those who are richer (has up to and more than $ 50 thousand) – VIP and Premium, respectively.
The transition from one category to another does not happen automatically. First you need to apply to the broker. The new status will be awarded only upon the results of its consideration.
Which category is better
“Premium”. The conditions that Coin-Coin offers to other traders can hardly be called friendly.
Who trades how
Let’s start with the “standard” clients. Let’s see what conditions they are offered.
|Monthly cost of maintaining an invoice||90 euros|
|Loan interest||24 %|
|Deposit interest||2 %|
|Maximum number of bonuses||100 %|
|Minimum volume of all positions||25 Euro|
|Maximum volume of all positions||500/5 thousand euros|
Conclusion: not only will novice traders be able to realize the potential of their capital, but they will constantly pay for service, regardless of how many transactions they conclude. The interest on the loan cannot be called fair either.
VIP clients are doing a little better. They pay only 50 euros for the monthly maintenance of the account. The interest rate on the loan was cut by half (to 12%), but the deposit rate was doubled to 4%. Coin-Coin promises improved spreads. That is, they will not be marketable in any case. The amount of bonuses is one-fourth more (equal to 125%). But the total volume of positions should be no less than fifty euros, and the maximum – no more than 1,000 / 10,000 euros.
If you are ready to replenish the deposit for more than 50 thousand euros, more acceptable conditions will await you:
Free account maintenance.
Loan interest of 6% (and the same for the deposit).
But you will have to trade more than others. The minimum volume of transactions is hundreds of euros, and the maximum is 1.5 thousand / 15 thousand euros.
For most intermediaries, the difference between accounts lies in the number of additional services. But Coin-Coin doesn’t want to be like everyone else. His task is to squeeze out the most money.
Giving money left and right
The broker asks you to pay for the account maintenance if you are trading. But not when more than 2 months have passed since the last transaction. In this case, he acts differently: he begins to write off money for the so-called downtime. Over time, the amount will only grow. Let’s see how.
|Term||How much will the account maintenance fee in euros rise?|
|More than a year||300|
But these are not all surprises. One day Coin-Coin will simply write off all your funds in its favor.
And what about those who have temporarily lost access to the deposit and do not know what to pay for inaction? Start the recovery procedure. But do not flatter yourself. Most likely, it will be delayed in order to get as much money as possible.
At first, entering coin-coin.trade seems like a fairy tale. The broker generously distributes bonuses that can be used in the course of trading. Seeing the numbers 100%, 125% and 150%, many lose their minds and rush to open an account. In fact, the broker accurately counts the money earned on bonuses. And sometimes he writes them off.
This page of the site explains what bitcoin is, how it is received and why it is so popular. The promise is striking that transactions with him take place instantly and without commission. Not like the banks.
It’s time to stop and think. But Bitcoin.cash separated from Bitcoin precisely due to the fact that transactions take several hours or even a whole day. Whether such training is worth trusting is not clear. And the commissions that many exchangers charge significantly exceed bank fees.
So what exactly is Coin-Coin? This is either a dubious broker, or one who does not know how to properly submit information.
Finally, I must say about the commissions that are taken for withdrawing funds. They reach a fantastic 5%. This is discouraging, to say the least. After all, most brokers ask for only 2-3%.