What is CoinEgg? Is it one that is performing well in its industry? Is it one that you can trust as an alternative to the platform that you are already using? Join me in today’s reviews we unpack what CoinEgg has in store for its customers. Here are the main elements of the review that we shall dig deeper into:
Name of the platform: CoinEgg
Official Website URL: https://www.coinegg.com/
Overall Rating: (2.3 / 5)
Recommended: Not really (the ratings suggest that we should keep off)
Table of Contents
- What is CoinEgg?
- What does the exchange platform look like?
- What are the exchange markets that are available?
- Which fees can you expect to be charged on this platform?
- How secure and fair is this platform?
- How is support offered on this platform?
- Is CoinEgg Legit or Is It A Scam?
- Pros and Cons
What is CoinEgg?
Coinegg is a cryptocurrency trading platform that is based in the United Kingdom. This exchange platform was launched back in 2017, and it has its headquarters at Hunstanton Avenue, UK. This platform has managed to build a large following, and our reputation for offering a wide variety of digital tokens, including the ones that you cannot access on any other exchange platform. This is the reason Coinegg has picked many people’s interests in the cryptocurrency industry. Like many other exchange platforms in this industry, CoinEgg is not regulated by any well-established regulatory authority. It has however still managed to build a strong reputation amongst its users.
What does the Exchange platform look like?
As is the case with other crypto exchange platforms, CoinEgg has its own web-based trading platform. The trading view is somehow nice but is not as intuitive as most other exchanges that we have reviewed on the side. At the very top of this platform, you will find a basic chart of the talking that you are trading, along with their recent history and time frames.
Coinegg’s charting tools are somehow limited, but they are good enough for those who are getting started with crypto trading. One can access the available cryptocurrency assets on the left side of the platform quite easily. The order book and order history lie directly below the chart. The layout, I would say, is pretty much organized but it lacks some features that are available in other trading platforms. You will for instance find out that the order book is quite limited, and it only offers simple market orders as opposed to the other more advanced features such as limit orders and stop-losses. All in all, this platform operates quite smoothly and is one that we can say is technically sound.
The exchange markets available
CoinEgg Is well known for having a massive collection of cryptocurrencies that are available for trade. As of now, it has more than 40 tradable cryptos, and the platform is actually adding more from time to time. It is for this very reason that it has gained popularity amongst traders who in most cases love platforms that present them with many options when it comes to tradable assets. Another thing about this platform that traders love is that they can access some coins even before they get listed on other trading platforms. This helps them maximize the income-earning potential since they lay their hands on the tokens very early enough.
You can therefore access cryptocurrencies such as Bitcoin, Ethereum, as well as this platforms’ coin known as USC token. Bitcoin and this USC talking happen to have the most tradable asset pairs. for Ethereum, there are only five cryptocurrencies that traders can form pairs with.
CoinEgg does not feature fiat currencies in its trading pairs, thus you can look for an alternative currency exchange that can allow you to pair up Cryptos with Fiat currencies.
Which fees can you expect to be charged on this platform?
This is another area that CoinEgg also stands out- a competitive fee structure. This platform is actually very transparent with the fees that it charges, hence lists all the associated fees on the official website, as well as in their order book. The withdrawal can go as high as 1% of the total amount being transacted. They are set at:
- 0.001 BTC for Bitcoin
- 0.001 LTC for Litecoin
- 0.01 ETH for Ethereum
These fees happened to be quite low in comparison to most of the other exchange platforms in this industry. They may not be the lowest, but they are quite competitive.
When it comes to the trading fees, you can expect to be charged 0.1% of the amount in question. This is significantly lower than what other popular cryptocurrency exchanges are charging, with some charging as much as 0.25% of the amount in question.
How secure and fair is this platform?
So far, CoinEgg is yet to be hacked. Given that some other platforms in this niche have already lost millions of dollars worth of customers’ money, it is safe to say that CoinEgg is a trustworthy exchange platform. Unfortunately, it is not regulated by any outstanding financial body, thus traders should practice caution When going about their trading activities. The owners of the platform claim that they offer top-level security, though there is not much information available on the official website to prove this. I would therefore urge anyone who wants to use this platform to proceed carefully since anything can happen- including the loss of once funds.
If it is a question of fairness, I think this platform is quite fair to all customers, in that they all have one account type to choose from, hence it is upon each individual to take advantage of the features and tools that are offered to the best of their ability.
How is support offered on this platform?
You can reach the support staff at Coinegg, through email or live chat. I cannot promise you that there will always be somebody waiting to respond to your issues through the live chat platform. The same happens even with the email option, where you may not get a response as fast as you would want to get one. The platform does not also have an FAQ section, Which in most cases makes it easy for customers who want to simply help themselves with regards to certain issues that they run into. Ultimately, I think the customer support here is not the best.
Is CoinEgg Legit or Is It A Scam?
In my own opinion, this platform is genuine. It is one that has been attracting customers who want to access cryptocurrencies that are not available on other trading platforms and offering them at relatively low fees. Unfortunately, the platform seems not to be doing very well with regard to customer service. This is actually the reason behind its very poor rating on Trustpilot, where it has a rating of (2.3 /5 ) stars. I would therefore not be very quick to recommend this platform to anyone who is getting started with crypto exchanges, or one who is looking for an alternative to what they are currently using. here is an alternative, I would however recommend:
Pros and cons
- It has many crypto assets
- Relatively low and competitive fees
- Poor customer service
- It is not regulated
- Limited charting tools
Final Words and Verdict
Verdict: Legit (But Not Highly recommended)
Overall Rating: (2.3 / 5)
CoinEgg is amongst the crypto exchange platforms that support quite a wide variety of crypto tokens. It is actually well-known for supporting tokens that other platforms no longer support. If you are therefore looking for a place to trade such coins then CoinEgg can be a go-to place. The customer service here is unfortunately not the very best so I am not very sure if you will enjoy the services. In that case, I’d just recommend that you have a look at the alternative to CoinEgg that you will have an easier time with.
That will be all for my review about what CoinEgg is about. I hope that you got enough knowledge to help you decide whether this is a platform that you can rely on or not. Mind sharing what your thoughts are about this platform? Please do so in the comments section.
Eric, investor, and blogger at Start Make Stop Waste!