Coinhouse.io Exchange Review

/Coinhouse.io Exchange Review

Coinhouse.io Exchange Review 2018-02-22T16:57:01+00:00

Review for Coinhouse.io

If you are a crypto trader or enthusiast, you at least have an idea which crypto exchange to use if you want to trade cryptocoins. But if you are green at crypto trading, you will quickly realize that finding an exchange that works for you is not a walk in the park.

Reason being, not all crypto exchanges are alike. Some exchanges like Bitstamp and Kraken have so many features and services that figuring out how each work can be a long and tedious process. Most users want an exchange with a simple easy to use interface and a limited number of uncomplicated features.

This is why Coinhouse.io is popular. The exchange caters only to EU clients, supports a small number of cryptocurrencies and provides a few essential features. This makes it easy for the platform to offer fast and superior services.

But with that said, let us analyze Coinhouse.io to determine if it is good, reliable and safe.

COINHOUSE.IO review

Coinhouse.io is a crypto exchange that supports the buying and selling of BTC and Ether. Originally, its services were only open to French nationals; however, the company has since expanded to accommodate EU nationals. Coinhouse.io is based in Paris, France. Coinhouse.io was established in 2014 by a company called La Maison du Bitcoin (The House of Bitcoin), which is based in Paris, France. Coinhouse.io is also affiliated with the popular hardware wallet LedgerWallet.

Coinouse.io Supported countries

Coinouse.io accepts clients only from the EU countries.

Coinouse.io Limitations

Coinhouse.io has put in place trading limits. After the initial verification, you are limited to buying no more than €500 per day or €2,000 per week or €10,000 per month.

Buying and Selling on Coinouse.io

There are three ways you can buy and sell BTC or Ether on the exchange. You can make payments via bank transfer, 3D secured credit cards (Master and Visa) or Neosurf tickets.

Available cryptocurrencies

Coinhouse.io supports Bitcoin, Ethereum and EUR.

Verification factors

When you register an account with Coinhouse.io, you have to verify your account. To do this you need to send a scanned copy of your ID or passport (front and back), a selfie of you holding your ID or passport, and a proof of address (telephone bill, gas or electricity bill).

The verification process takes 24 hours. It should also be noted that Coinhouse.io accepts national IDs of French nationals only. For other EU nationals, only passports are accepted. This is a bit of an inconvenience for EU nationals who do not have passports, given that they only need a national ID to travel within the European Union.

Coinhouse.io Fees

Fees are based on the total buying volume of the user. Here is the breakdown.

SEPA Bank Transfer

Amount and fees

0 to 500€- 10%
500€ to 1,500€- 9%
1,500€ to 3,000€- 8%
3,000€ to 5,000€ – 7%
5,000€ to 10,000€- 6.5%
>10,000€- 6%

Credit Card Transfer

€ 5,000: 10%
€ 5,000 to € 20,000: 9%
>€ 20,000: 8%

Transactions via Neosurf attract a fee of 17%.

Coinhouse.io Special features

  • There is a Network Affiliate program where users get a referral commission of 20%.
  • High liquidity owing to its connection with Kraken.
  • No hidden charged.
  • Protection against chargebacks.
  • Account verification.
  • Payments via 3D secured Credit cards.

Is COINHOUSE.IO safe?

Is coinhose.io legit? Can I trust cinhouse.io? To do any kind of buying and selling on Coinhouse.io, you have to first be a verified user. To make payments via credit card, the card has to be 3D-secured. This allows for safe and secure credit card based transactions.

Furthermore, Coinhouse.io KYC compliant and has implemented the Anti-Money Laundering regulations.

If this does not give you, some assurance, consider that the company that runs Coinhouse.io is reputable and trustworthy. Therefore, in no way can they can provide a service that doesn’t have high-security standards.

Security

Coinhouse.io complies with the AML (Anti-Money Laundering) and KYC (Know Your Customer) regulations. Also, the fact that all accounts registered with Coinhouse.io have to be verified shows that they take strict measures to ensure the level of security remains high.

It is also good to note that Coinhouse.io has partnered with Ledger, a reputable company that is well known for developing infrastructure and security solutions for cryptocoins and blockchain applications.

This should give you enough confidence about the standards of security Coinhouse.io upholds. Furthermore, Coinhouse.io provides an easy connection with the Ledger Nano S hardware wallet and accepts credit cards with 3D secure authentication.

Customer support

Coinhouse.io support team can be reached via email or phone. There also have a comprehensive FAQ page on their website.

Handling speed

  • Accounts are verified within 24 hours.
  • Bitcoin transfers are instant.
  • Support team response is quick.
  • Bank payments take 1-3 days.

How to use Coinhouse.io?

To use Coinhouse.io, you must have a verified account with the exchange in order to buy or sell Bitcoin or Ether. The only acceptable fiat currency is EUR.  

Once your account has been verified, go to the Coinhouse.io login page and enter your email and full names to access your account.

  • Payment methods

There are two ways in which you can make payments on Coinhouse.io: 3D-secured credit card and bank transfer. Neosurf tickets are also accepted.

  • Buying and Selling Bitcoin from Coinhouse.io

To buy Bitcoin from the exchange, you need to transfer some Euros to your account, which you can do via bank transfer or credit card (Master or Visa 3D secured credit card). Then navigate to the Buy page, enter the required details including the amount of BTC or Ether you want to buy and that’s it.

Coinhouse.io has made it easy for clients to buy Bitcoin from its platform by buying them from the Kraken Exchange and selling them to its clients at a fee. This reduces the complications that would otherwise exist if the Kraken process of a buying Bitcoin was incorporated into their system. In any case, Kraken does not accept credit card payments, so with Coinhouse.io, at least you can buy and sell Bitcoin or Ether using your credit card.

The exchange is very transparent about their dealings with Kraken. They sell Bitcoin to their users at Kraken price plus their commission. There are no hidden fees.

If you want to sell your Bitcoin or Ether on the exchange, the process is easy and straightforward. You simply navigate to the Sell page, enter the required details and you are done.

Review Summary

Pros

  • High-security level
  • Fast and rigorous verification process
  • Phone and email support
  • It is regulated
  • Instant delivery of BTC
  • Easy to use

Cons

  • High fees
  • Supports EU countries only
  • It does not support mobile
  • No leverage trading
  • No in-house wallet

Despite the high fees, Coinhouse.io has put itself on the map for being a reputable exchange with high-security standards, superior services, and a reliable support team. Unfortunately, not everyone can join the Coinhouse.io community because it only accepts EU nationals. The other downside is the high fees, not many people are, willing to pay exorbitant fees to trade cryptos on Coinhouse.io especially if there other equally reputable exchanges that offer much lower fees.

Thank you for reading this review. For more about Crypto exchanges and more, feel free to check our site.