Anycoin Full Exchange Review
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If you’re looking to purchase Bitcoins and other digital coins, AnyCoin is one of the numerous platforms online that you could purchase from. The exchange lets you buy and sell BTC and other cryptos quickly, easily and securely. The main aim of the company is to make the process of buying and selling as easy and fast as possible for their users without the need to compromise their safety.
What is Anycoin?
Anycoin is a Dutch cryptocurrency exchange platform that facilitates the trading, buying and selling, of Bitcoins and other altcoins. Their services are available across Europe. The exchange site offers its services in English, Dutch, Spanish, Italian, German and French.
Anycoin exchange was originally founded in 2013 by Bram Ceelan and Lennert Vlemmings as Bitplaats, providing the Netherlands with a payment method called iDEAL. On January 2014, the company began offering Belgian customers with their services of a payment method Mister Cash or Bancontact. They later changed the name to AnycoinDirect on that same year and expanded their services to the whole of Europe adding other payment methods including MyBank, SEPA, Sofort Banking, Giropay and online bank transfer.
Trading on Anycoin
Anycoin exchange’s main purpose is to simplify different forms of crypto coins. To start using Anycoin’sservices, you will be required to register on their website, and you can start making your purchase. Within minutes, you will be able to receive your coins in your wallet. Moreover, the platform does not have any kind of restriction on who can join.
The buy and sell services of Anycoin exchange are available to European residents. However, if you are located in a country not listed on their website, you are still allowed to use their services by contacting their customer support directly first. Keep in mind though that you will not be able to buy coins using your credit cards or PayPal account. They also do not offer leveraged trading in digital coins.
Anycoin Supported cryptocurrencies
The exchange platform provides a fairly good list of crypto that you can exchange for Euros and vice versa. Currently, Anycoin is one of the leading Dutch exchanges offering a wide range of altcoins.
- Bitcoin (BTC)
- Ethereum (ETH)
- Ethereum-Classic (ETC)
- Litecoin (LTC)
- NEO (NEO)
- Stratis (STRAT)
- Monero (XMR)
- Dash (DASH)
- Dogecoin (DOGE)
- Zcash (ZEC)
Anycoin exchange offers also a good payment options
What makes AnyCoin rather different from other cryptocurrency exchange is that it doesn’t control the funds of its client in any way. So basically, as soon they receive a successful payment transaction, the funds will be sent to your address directly and automatically. In the case of an order via SEPA, your digital coins will be sent once the transfer you made has reached their bank account. Using Anycoin’s services provides people a way to purchase and receive cryptocurrencies within a span of five minutes.
- Bank transfer
- SEPA transfer (available only in Europe)
- My Bank
- Biancontact or Mister Cash
The rate in Anycoin is based on the rate of Bitstamp USD/BTC. Fees will vary depending on the size of your transaction.
- The rate for buying BTC is 0.3%
- The rate for selling BTC is 1%
The Dutch payment system, iDEAL offers the cheapest payment or funding option, where their fee for purchasing one BTC is 0.005% or around 30 cents in Euro money. On the other hand, Sofort charges more than €250, while the transfer costs in SEPA is the second cheapest at about 0.5% or around €32
- Cryptocurrency transaction fees will vary depending on the network fee of its blockchain.
- Bank deposit or other payment option fees will also vary depending on your chosen method but will not exceed a few Euros per order.
- You can only withdraw fiat currencies through the use of a SEPA transfer or via PayPal.
- Be aware that most wallets may add additional fees on top of the amount you’re trying to transfer. This is needed for your transfer in the blockchain to be confirmed.
Like any other crypto exchanges, Any Coin features a tier system of account verification. It is also mandatory for you to create your own personal account, wherein the minimum age required is 18 years old. You don’t need to get verified if your transaction is only up to €100 a day but not exceeding €250 every week. If you want to upgrade to the next levels, you have to send a digital copy of your ID, video verification and your proof of residence.
To better protect their clients, Anycoin has incorporated a level system. Your limits will be raised on a higher account level for buy and sell orders as well as increase your amount of transactions per day. This is optional and not mandatory though for privacy reasons. With every step, you are required to provide them more information about you by submitting certain documents.
- For level 3 and level 4, you will be asked to provide a copy of your proof of residency and a copy of your official ID document.
- For level 5, you will be asked to have a short interview with their team via Skype.
- The documents you submitted will have to be approved first by Any Coin’s compliance department. During office hours, the process could take at least a couple of hours,and you could be approved within the day.
Is Anycoin Safe?
Anycoin exchange is not regulated, but it actually doesn’t need to be as the Netherlands and Europe on a fundamental level, do not have any exact requirements for cryptocurrency regulation. Well, at least not at the time of this writing. However, crypto exchanges are expected to strictly comply with all know-your-client requirements as well as anti-money laundering laws.
The EU Commission has stated that they are planning to introduce additional requirements, mostly having to do with preventing terrorism funding and all other illegal activities. The time frame, however, is not yet clear. The Netherlands, on the other hand, has been a fairly crypto-friendly country, and even boasts of having its very own altcoin called the Gulden cryptocurrency. You can also find Arnhem here, the town named as the city of Bitcoin. Plus, many businesses and establishments here, from gas stations to fast food restaurants,thataccept BTC as a mode of payment.
When it comes to security, Any Coin is not clear on what measures they are taking. Furthermore, they don’t offer an e-wallet of its own either, but instead, you will be redirected to external platform services.
The good thing is, trading crypto coins in Anycoin exchange is much secure compared to other exchange of its kind due to the following reasons:
- You only need to provide the address of your wallet.
- You are not required to provide your bank details.
- If you are okay with the daily limit they have set, you don’t need to provide them with your personal details.
- Uses SSL two-factor authentication.
In terms of speed, once you have been verified, which will only take 2 hours upon submission of requirements, you will be able to use most of the services right away.
- Cryptocurrency speed will depend on the coin’s network.
- When you are selling coins, your money will be transferred to the bank account number you specified, normally within a period of 12 hours. The most are within 2 working days.
Anycoin’s website also offers numerous ways on how you can contact their customer support including the following:
- A contact form wherein you can detail your concern or any type of inquiries.
- Email: firstname.lastname@example.org
- Phone number: (+31)-(0)800-2692646
- If you prefer in writing, you can write to them at Marshallweg 5, 5466AH Veghel
- They also have social media presence via their official Facebook and Twitter accounts
In addition, their customer support team also answers complaints made through review sites. Although, there are some customer complaints that contacting them via phone call is very difficult and that they don’t reply to emails.
How to Use Anycoin?
Using the exchange platform requires very little to get you started.
- Register on the website.
- You can instantly make transactions without getting verified, but there is a limit per day as we have previously mentioned in this article.
- If you want higher limits, just follow their verification process which will only take a day once you’ve completed all the required documents to be submitted.
- Your coin will be available in your wallet in a matter of minutes.
Overall – 7.5/10
Any coin is an exchange that doesn’t offer a trading platform, but it does offer an easy way to buy and sell cryptocurrencies and provides the important details customers need to know like transaction costs.
In a Nutshell
Pros of Using Anycoin
- You can buy crypto coins within minutes.
- They offer a huge list of cryptocurrencies.
- The exchange also accepts fiat currency.
- Offers a lot of payment options.
- You can buy cryptocurrencies without verification but with a €100 limit per day and €250 per week.
- You can choose the level of verification process you want which lets you control the information you’re willing to provide them.
Cons of using Anycoin
- Limited extra services, you won’t see graphs and tools similar to other exchanges.
- You can’t use your credit cards or PayPal account.
Anycoin exchange aims to provide services to a broader audience who are interested in investing in digital assets, which doesn’t have the deep financial know-how. With this in mind, its creators developed an intuitive, clear, clean and simple platform for the average user. Any Coin may not attract advanced and professional investors, but that’s hardly its purpose. The platform, however, has been praised numerous times on reviews when it comes to its speed and ease of use, as well as some mentions of costs being reasonable. The fees are not cheaper but comparable to other crypto exchanges offering the same services though. But what makes it stand out is that even occasional or casual users who don’t want to go through the lengthy process of verification can access the platform. So overall, Anycoin is a good exchange for beginners as it is user-friendly.
Thanks for reading our Anycoin review. Do not forget to check out all our other articles to learn more about the ins and outs of cryptocurrencies.