Starting as an ICO investment portal, CoinList strives to help investors get into the crypto world by giving them access to new projects. It serves as both an ICO and IDO platform and a crypto exchange. This article provides a detailed CoinList review regarding transaction fees, trading features, token sales, etc.
CoinList Overview
In 2017, a group of crypto fans in San Francisco, California, came up with the idea for CoinList. Starting as an ICO investment portal, the exchange has since evolved to facilitate various crypto-based transactions. Its main goal is to handle compliance issues, technical details, and the regulatory burden of launching new coins, whether they are ICOs or security token offerings.
It is now a fully functional trading system that provides solutions for both individuals and businesses. The platform is available in two variants: CoinList, which is the standard version, and CoinList Pro, which has more sophisticated features.
Pros
Good ICO platform for new token launches
Crypto lending, borrowing & staking are available
Mobile app for both iOS and Android users
Knowledge hub as a great source of info for users
OTC service dedicated to institutional investors
Offline cold storage to safeguard crypto funds
Cons
Debit/credit cards not supported
Poor customer feedback on token sales
No live chat for customer support
A limited number of tokens on its lineup
I.D. verification takes three business days
Cryptocurrencies Supported
Getting access to new cryptocurrencies and projects that could potentially grow is one of the main concerns of speculators and investors. This constrains them from investing in the same projects that are already popular or those that have lost the potential for significant short-term gains.
CoinList accommodates all kinds of merchants and investors. Whether you want to play it safe or invest in new initiatives, the platform provides access to 40 high-quality cryptocurrencies. However, it’s too limited compared to top exchanges such as Binance or CoinSpot, with up to 500 coins supported (Refer to our Binance review and CoinSpot review to learn more). It also allows users to buy new coins and invest in good tokens at a competitive price.
Deposits & Withdrawals
CoinList only supports USD, which may not be appropriate for all traders and investors. Users outside the United States cannot deposit or trade using their local currency, as there is no P2P market available to make this feasible.
Even though CoinList supports fewer fiat currencies than some other exchanges, it makes it easy to deposit USD. It does not charge any fees for USD deposits. The exchange provides U.S. customers with convenient, hassle-free deposit options, including ACH and wire transfers.
Although CoinList does not support fiat currency withdrawals, it does offer crypto withdrawals with fees that vary based on the blockchain. For Bitcoin withdrawals, CoinList charges 0.0005 BTC, while Ethereum withdrawals cost a steep 0.004 ETH. The fee for withdrawing ERC-20 USDT is 6 USDT, higher than most other cryptocurrency exchanges.
CoinList Transaction Fees
Maker and taker fees on CoinList Pro are slightly higher than fees on other cryptocurrency exchanges, ranging between 0.25% and 0.45% depending on your 30-day trading volume. Pemex, for example, has a competitive creator fee of 0.1%, while Kucoin and Binance charge a maker and consumer fee of 0.10%. On the other hand, some exchanges, such as Hotbit and Bitstamp, charge significantly higher fees.
CoinList’s fees are reasonable and comparable to those of other exchanges. However, the exchange platform features extremely low liquidity, which results in wider spreads and higher prices.
CoinList ICO Platform
CoinList’s ICO and IDO platform gives consumers access to the best new crypto tokens before they are listed on major cryptocurrency exchanges such as Binance and OKX. The projects listed on the platform are all high-quality ventures with strong teams and exciting goals.
Additionally, they screen users to ensure the long-term success of the project. To invest, users must answer a series of questions about the project, and different sale tiers have varying purchase limits and lockups to prevent selling. If you are discovered using malware, your funds will be confiscated, and your account will be closed.
CoinList successfully launched numerous new and promising projects, including Solana, Algorand, Casper, Flow, etc., with hundreds of thousands of participants on the line when IDO was released. As seen, CoinList has effectively launched Solana, Flow, and Casper, with ROIs exceeding 250x, 430x, and 650x, respectively.
As the funding requests ranged from $100,000 to $500,000 and the number of participants ranged from 10,000 to one million, CoinList created a random queue. They request that users arrive at a specific time, and then randomly assign each user a queue number between 1 and 100,000. Users can purchase tokens sequentially following their queue numbers.
CoinList Trading Features
Crypto Buying & Selling
This feature is beneficial not only for novice investors but also for seasoned investors. Nobody desires a cumbersome experience when purchasing a crypto asset from an exchange. It should be as simple to acquire online as any other product.
This is available on CoinList Pro, which makes purchasing and selling cryptocurrencies simpler than ever. You must put cash or digital currency into your account and then go to the buying and selling section to complete the transaction. With just a few clicks, acquiring the tokens or coins you want is easy.
CoinList Crypto Lending
If you are looking for a crypto loan, CoinList Pro can help you with this. The only downside is that there is a limited selection of crypto assets. To get their users started, CoinList Pro only enables the lending of Filecoin. You can always exchange Filecoin for other cryptocurrencies and continue trading and investing.
CoinList Pro provides various forms of loan arrangements based on duration. You must verify this before applying for a loan to avoid problems in the long run. Users must make interest payments at the end of each month, failing which their contract may be terminated or other action taken.
Cryptocurrency Staking
When you stake a cryptocurrency, you put money into an account that pays interest to get rewards or more money. CoinList Pro provides seven distinct cryptocurrencies for account-based wagering. This is modest compared to larger crypto-staking platforms with more extensive staking lineups.
CoinList Pro accepts bets on the following cryptocurrencies: ALGO, CELO, FLOW, ROSE, CSPR, MINA, and VEGA. CoinList Pro will likely add other currencies depending on market conditions and benefits.
The annual percentage yield (APY) ranges up to 26% at the time of writing. The platform charges high commissions for this service, which vary per coin. The commission per yield ranges from 8 to 15% APY, which is extremely high.
Token Conversion
You can convert their existing cryptocurrency to any other coin you want. In addition, if you convert your BTC to wrapped BTC (WBTC), you can participate in the CoinList Pro DeTi portal. CoinList Pro claims to be one of the most popular places to buy WBTC online. It enables users to mint WBTC and EFIL instantaneously. It is also compatible with all of the leading DeTi protocols.
CoinList Trading Experience
CoinList is now partnering with TradingView to make accurate charts available for trading hundreds of coins. This part eliminates the risk of wrong data, slow data processing, bad order placement, and other problems. You can place buy or sell orders in seconds and monitor the order book on the trading screen’s right side.
As a starting point, there are several options for customising or adjusting the trading charts. You can personalise the candles by transforming them into bars, hollow candles, lines, and other shapes. You can also choose the period of any asset’s chart and evaluate it according to your preferences.
If you want a more advanced trading experience, you can add indicators from the library. You can even capture snapshots and store them on your device to monitor market movements, spot sudden changes, or compare different assets.
CoinList Mobile App
If there is one item that the current generation cannot live without, it is undoubtedly their mobile phones and the internet. Considering the benefits smartphones have brought people, you will realise how much simpler everything has become. To keep a finger on the pulse of crypto investing and trading, you must be able to access your crypto exchange via a mobile app.
CoinList mobile applications are available, and you can download them from Google Play or the Apple Store. The CoinList Pro mobile apps allow you to quickly sell and buy assets, stake, hold, and convert tokens. All these options will be accessible on your mobile device; sign in to your account to get started.
CoinList Knowledge Hub
CoinList Pro claims to be a user-friendly platform for beginners, but it goes beyond that. A full-service knowledge centre is meant to guide and help new traders and investors with their questions and inquiries.
Go to the platform’s blog section for the CoinList Pro knowledge base. This is where you will find all the articles in one convenient location, including informative posts, guides, how-tos, and much more.
If you still have inquiries and concerns after reviewing the knowledge base, you can email the CoinList Pro support team and await their response.
CoinList Security Features
CoinList is proud of how much it cares about security since no attacks or data leaks have been reported. CoinList has taken extensive precautions to safeguard the funds of its users. The platform does not presently offer proof of reserves. Still, they are registered with FinCEN in the United States and work with top custodians such as BitGo and Gemini Custody to ensure the safety of user funds.
The insurance policies of their partner custodians give the funds in cold storage an extra layer of protection. Besides its partnerships with leading security personnel. CoinList employs two-factor authentication (2FA) for every account and most transactions, ensuring that only authorised users can access their accounts. Like most other crypto exchanges, CoinList focuses on security measures to keep user funds safe.
CoinList Customer Support
CoinList has a 1.2-star rating based on hundreds of customer reviews, indicating that CoinList users are primarily dissatisfied. Many users complain that CoinList has a poor technical team and poor support team, and if you lose your money due to a technical error, it is irrecoverable.
There is no online chat or 24/7 customer support as is offered by some exchanges like CoinSpot (refer to our CoinSpot review to learn more). Thus, you should send their queries via the ticket portal or email and wait. The technical support claims to respond to tickets within a few days. However, some users report not receiving CoinList’s responses despite trying to reach them via email and other social media like Facebook and Twitter.
CoinList FAQs
Is CoinList crypto exchange legit?
CoinList and CoinList Pro are legitimate since they have licences in numerous U.S. states to offer their services. The exchange employs industry-leading security measures such as offline storage and 2FA authorisation to safeguard the funds and data of investors.
What is CoinList Pro?
CoinList pro service is called CoinList Pro, which offers market orders, limit orders, and order books to more advanced traders. CoinList Pro is the superior option to maintain your trading and investment experience.
Does CoinList have its token?
CoinList has yet to issue its token at this time. Still, there is a good chance of a CoinList token sale since the platform has gotten much community interest.
Can we participate without KYC?
Since CoinList is situated in the United States, KYC is required. CoinList must adhere to existing regulations and the BSA/AML program.
How does the CoinList token sale work?
Participants with successful registration will receive an email with a unique URL to enter the queue before the Umee Token Sale begins. All participants will check into a waiting area, and once the sale starts, they will be allocated random locations. Participants who appear late will receive a lower priority in line.
Final Thought
CoinList is a platform for trading cryptocurrencies that only offers a few services, mostly ICO and IDO services. The exchange only offers 40 cryptocurrencies for purchase via spot exchange or swapping. Despite limited liquidity, CoinList’s fees are reasonable compared to other exchanges. The platform only supports USD fiat currency, and its customer service is poorly rated. If you are interested in an Australian crypto exchange with more supported deposit methods and better customer service, you can consult our list of the best Australian crypto exchanges.
