Coinone Exchange Review
Coinone is a centralized exchange that occupies #48 on Guru InvestingExchange Tracker. Coinone trading volume is US$74,480,199 in the last 24 hours and US$29,086,976,076 in the last 7 days.
Coinone currently has 246 cryptocurrencies, 1 paper currencies and 248 markets (cryptocurrency trading pairs). The most popular trading pair on Coinone is BTC/KRW.
Compare Koinone next to other exchanges here: Exchange comparison tool.
Coinone is a South Korean centralized cryptocurrency exchange (CEX). Founded in 2014, it offers crypto-crypto and KRW-crypto trading on the Coinone spot market. Clients must comply KYC requirements. Service not available in the US.
Markets
Coinone cryptocurrency exchange offers spot trading as its core service. Clients can trade using over 170 listed tokens. In total, there are over 195 Coinone trading pairs available for individual and institutional traders.
The Coinone spot market has a fixed producer-buyer fee of 0.2%. However, clients who are part of VIP or Market Maker (MM) programs are entitled to discounts and other benefits. The default and only specified currency for Coinone cryptocurrency price listing and trading is the Korean Won (KRW).
There are minimum and maximum order quantity requirements. The minimum Coinone quantity for one order is 5,000 won, and the order amount must be at least 0.0001. The maximum order quantity should not exceed 1 billion won. However, there are no restrictions on the order amount.
Clients have the right to VIP program if their monthly trading volume on Coinone exceeds 3 billion won. VIP users receive benefits such as multiple account functionality and IP whitelisting. Coinone cryptocurrency fee discounts apply to receiving producer fees. The VIP taker commission rate is 0.01%, and makers are not required to pay.
Members Market Maker Program (MM) must ensure constant market liquidity. Only corporate traders can join the MM program. In return, they receive various benefits. Coinone exchange fees have been reduced to 0% for makers and 0.01% for takers. In addition, participants benefit from the exchange of closing commissions.
There are no fees or deposit limits for digital assets listed on the platform, as well as KRW. Withdrawal limits depend on the customer verification step completed, and fees depend on the asset. There are two stages of verification. However, additional individual or corporate steps are available upon request.
In Phase 1, Coinone’s daily withdrawal limit is up to 100 million won in cryptocurrency or 5 million won in digital assets for bank-verified users. Users using other non-bank verification can withdraw up to 500 million won in virtual assets.
Stage 2 users must comply with bank verification requirements if they wish to withdraw fiat currency. They can withdraw up to 100 million won or up to 20 million won in cryptocurrency daily. Users who have not passed bank verification are limited by the price of Coinone cryptocurrency to withdraw digital assets up to 1 billion won.
About company
Coinone cryptocurrency exchange was founded in 2014 Cha “Kevin” Myung-hoon. Over the years, it has grown into one of the largest cryptocurrency exchanges in South Korea. The company’s headquarters is located in Seoul.
A market study conducted in September 2021 showed that the Coinone cryptocurrency exchange occupies a leading position. third largest in South Korea, lagging behind Upbit and Bithumb. According to, Coinone’s average 24-hour trading volume was approximately $364 million..
In August 2021, Coinone was one of several South Korean crypto exchanges to submit a business report to Financial Intelligence Unit (FIU). The audit was conducted to transparently demonstrate compliance with regional regulations. Once the report is accepted, the exchange is considered accredited and can legally process cryptocurrencies.
In December 2021, it was announced that Coinone will no longer allow withdrawals from wallet addresses that have not been verified through the KYC verification process. The service ban was introduced in January 2022.
Cha Myung Hoon is the CEO of Coinone. He is known as a white hat hacker with an interest in digital security. Cha created the cryptocurrency exchange Coinone after the collapse of the Japanese bitcoin trading platform Mt.Gox.
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A cryptocurrency exchange is an online platform where you can buy, sell, or trade cryptocurrencies like Bitcoin, Ethereum, and others.
Safety varies by exchange. Look for platforms with strong security measures, like two-factor authentication and cold storage for funds.
Consider factors like security, fees, available coins, user interface, and customer support.
Centralized exchanges are managed by a company, while decentralized exchanges operate without a central authority.
Many exchanges require Know Your Customer (KYC) verification for security and regulatory compliance.
Trading fees vary but typically include maker fees (for adding liquidity) and taker fees (for removing liquidity).
Yes, most exchanges offer cryptocurrency-to-cryptocurrency trading pairs.
Withdrawal times depend on the exchange and the cryptocurrency. Some are instant, while others may take hours or even days.
A wallet address is like a bank account number for cryptocurrencies. It’s required to send your crypto to the right place.
Yes, depending on your country’s tax laws, trading cryptocurrencies may have tax consequences. Consult a tax professional for guidance.
Yes, many cryptocurrency exchanges operate 24/7, allowing you to trade at any time.
A market order buys or sells at the current market price, while a limit order sets a specific price at which you want to buy or sell.
Yes, each exchange sets its own minimum and maximum trading limits, which can vary widely.
It’s not recommended. For security, it’s better to use a cryptocurrency wallet, especially for significant holdings.
Exchanges typically have account recovery processes, including password reset options and support for forgotten usernames.
Some exchanges offer insurance, but coverage can be limited. It’s essential to check an exchange’s insurance policy.
Use strong passwords, enable two-factor authentication, and be cautious of phishing scams and suspicious emails.
Yes, but it’s recommended to learn the basics of trading and understand the risks involved before you start.
Stablecoins are cryptocurrencies pegged to the value of a fiat currency like the US dollar. They provide stability and are commonly used for trading and transferring funds on exchanges.
Yes, regulations vary by country. Many countries have implemented or are considering regulations to govern cryptocurrency exchanges for consumer protection and financial stability.
