Coinmate

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CoinMate.io is a cryptocurrency exchange established in 2014 by Dan Houška and Roman Valihrach. Coinmate is located in London and currently offers a bilingual version of the website. You can trade BTC, LTC, ETH, XRP, DASH, BCH, and DAI for FIAT currency such as euros or Czech crowns.

The exchange is open to individuals and companies across the world, although it does not accept US citizens to register on the exchange. Client funds are secured using Trezor wallets.

History

The cryptocurrency exchange Coinmate was created in 2013 in cooperation with leading development company PROFINIT, which specialises in banking software. The first beta version was unveiled on the 20th of October 2014. The fully functional alpha version was released on the 15th of April 2015, offering two trading pairs (BTC/EUR and BTC/CZK). Thanks to its long history, Coinmate has developed a loyal following and a strong community. This stems in part from the reputation of co-founders Roman Valihrach and Daniel Houška, who have been in both the investment field and the cryptocurrency field for more than ten years. They have another successful project under their belts, a crypto payment gateway called Confirmo.net (bitcoinpay.com). Coinmate is one of the few crypto exchanges which has never been hacked. In March of 2020, FIO bank cancelled Coinmate's bank accounts, which was the main driving force for most of the capital leaving the exchange. Coinmate fulfilled all commitments towards its customers. In the summer of 2020, Coinmate announced a new partnership with Gopay to secure CZK payments. At the same time, the exchange also announces the opening of a new EUR account. As of August 2020, the exchange has two languages and offers 20 trading pairs.

Coinmate platform

Coinmate gives you two trading options, ‘Quick Buy’ and ‘Trade’. The ‘Quick Buy’ feature allows you to buy quickly and easily at the current market price. Users only need to enter the desired price of BTC or how many bitcoins they want to buy, and Coinmate does the rest automatically.

The ‘Quick Sell’ option works the same way. The trading view offers a price chart, order book, transaction history, and a designated area for creating orders. You can use three options when making an order: ‘Market’, ‘Limit’, and ‘Stop-limit’. You only have to input the desired amount of crypto you want to buy via the first option, then it matches it with the best available counter offer. With ‘Limit’, you choose the price and amount, which can, of course, mean that your offer will never be fulfilled if you choose an unrealistic price. The last order is used to buy or sell under conditions when the currency reaches a certain price. For the trading itself, a simple registration process and subsequent verification of identity are enough. Thanks to the new IDnow automated process, the whole process takes up to 10 minutes. You can use several methods to deposit. You can deposit a cryptocurrency by following the instructions of the stock exchange, deposit EUR by bank transfer, or deposit CZK via the GoPay payment gateway. These deposits are made in the Funds tab, where the client clicks on Deposit. On the next page, select the deposit method and follow the instructions.

Sign-up to Coinmate

Registration for the Coinmate exchange is free and can be done via the link on the main page of the exchange's website. Unlike many other exchanges, it is very simple and fast. First, the person interested in trading enters their email address and a potential password. Following this, they will receive a confirmation email with instructions on how to activate their account. To secure the account, the user can choose from several options. The user can use two-factor verification from Google, or have a special code sent to their email. Another option is to connect to the Trezor hardware wallet.

New functions and news

The exchange regularly releases new versions that contain new features or tweaked functionality of existing ones. These new versions are based on user feedback.

You can find information about the content of new versions and how the new functions work on the stock exchange blog.


Coinmate Deposit Options

Coinmate Withdrawal Options


Account Security

Key actions on the account are protected by email 2FA, and the exchange also supports Google Authenticator or Trezor Hardware wallet

API

API keys can be generated, and allowed to trade or withdraw bitcoin from the exchange. Documentation on the API is available http://docs.coinmate.apiary.io/

References

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