Coinibank Rating
Coinibank Review
These days, everywhere you turn, people are talking about cryptocurrencies. Of course, they are not the only financial instrument in the market, but they have generated a lot of hype after 2017. That was the year when Bitcoin and several other cryptocurrencies saw a massive increase in their prices, which meant many investors were able to rake in fortunes. This fueled the interest of many other people and now people are jumping on the bandwagon. In addition, there has been an inflow of new cryptocurrencies in the market, which means there is plenty of room for investment.
But, in order to start trading cryptocurrencies, you will require the services of a broker. If you are already an online trader, it is possible that your existing broker may give you the option of trading cryptocurrencies. However, it is better to find a broker specializing in crypto trading because they will provide you with specific tools and features that can provide a smooth trading experience. Do such brokers exist? Indeed, you can easily find some options if you do a simple search. But, it is important to bear in mind that you cannot just pick one out of a hat.
You have to be very cautious when making a choice because crypto scams are also widespread and you can end up losing your investment. If you are looking for the best trading conditions and a comprehensive option, Coinibank is the top choice for you. The unique thing about this broker is that even though it is authorized to offer CFDs on a variety of trading products like forex, commodities and stocks, Coinibank prefers to offer only cryptocurrencies to its clients to help them enjoy a more customized trading experience. What can you get when you go with Coinibank? Let’s take a look at in detail:
Introduction to Coinibank
Coinibank has almost nine years of experience in the crypto market, which goes a long way in reassuring potential clients. Due to its experience, it has understood how the market works and is able to provide traders with everything they need to navigate it without any hassles. This brokerage was established by a company named Capital Letter GmbH and it is registered in Munich, Germany. The fact that the brokerage is registered does work in its favor because it tells you that the broker will not vanish the next day with your money. Apart from that, the broker has offices in three other locations for catering to traders all of the world. These locations include Cyprus, Wenlock (London) and Germany.
One thing you need to know before you sign up with Coinibank is that it supports CFD trading, which is referred to as Contract for Difference. It means you will not be purchasing or selling physical cryptocurrencies and will only buy and sell a contract for it. This is actually a good thing because the possibility of profits is higher in CFD trading and the risk is more controlled. While all of this does show that Coinibank is committed to providing its traders with the right conditions and environment, it still doesn’t tell its prominent features. Let’s see what else the broker can do:
- It can offer you the trading platform you need
You have to look at the overall services of a broker before you choose it for trading, but the most prominent aspect that needs to be weighed is the trading platform they provide. If the trading platform is not up to the mark, there is no point in signing up with them at all because it is what you use for making your trades. The other tools, trading conditions and features will be irrelevant if the trading platform has security vulnerabilities or lags during trading. Coinibank has gone to great lengths to ensure that its clients don’t have any trouble with their trading platform. Instead of coming up with a desktop client, the broker has opted for a web-based solution.
The web-based platform is convenient because it is capable of offering the benefits of a desktop-based platform and a mobile one as well. How? It can be accessed through a web browser on any device, whether it is a PC, laptop or smartphone. This means that unlike a desktop platform, you don’t have to be bound to a specific device and like a mobile platform, you can trade wherever you are. A web-based trading platform saves traders from having to download anything on their devices, which means it doesn’t depend on the device for its performance.
Coinibank has incorporated cutting-edge technology in its trading platform to ensure it delivers speedy performance. You will not have any lags, one-click trading is supported and there are customized layouts that can be used. The platform is user-friendly and easy to navigate. It boasts some of the best charting tools and trading indicators you can find in the market, which can be immensely helpful in making good decisions. Moreover, you are not responsible for its security upgrades as Coinibank takes on this responsibility and you can use the platform without any issues.
- It offers you access to many crypto options
Obviously, you want to trade cryptocurrencies when you sign up with Coinibank or any other broker, but do they offer you enough choices. Sure, you may wish to start out with a couple of options, but eventually every trader wants to spread out and take advantage of the growing market. Therefore, it can be disappointing to learn that your broker only provides a handful of options to choose from. This is not a complaint you will have with Coinibank because the broker has added a horde of cryptocurrencies to its asset index.
You can find the market leaders like Bitcoin and Litecoin, but this is not where the choices end. You can also trade Ripple, Ethereum, Bitcoin Cash, Digital Cash also referred to as DASH. There are approximately 500 coins that you can trade via Coinibank. The availability of this many coins means that you can diversify your portfolio within the crypto market and keep your risks at a minimum. Plus, Coinibank does its research and only adds viable crypto to its asset index instead of adding every new one that’s introduced.
- It offers you custom and unique account choices
When you sign up with any broker, you are given account options to choose from. The complaint most traders have is that the accounts are not very accommodating. They are designed for standard traders and not everyone falls into those categories. They have to choose an account that doesn’t give them everything they need and this can ruin their experience. With Coinibank, you don’t have to be concerned in this regard because this broker has customized their account options so they work for everyone. Here are the account options you can get:
Explorer: You have to deposit a minimum of $250 and a maximum of $2,000 and it comes with basic features because this account is for traders who have absolutely no experience. You can get 24/7 customer support, the education center along with professional charts and news alerts.
Basic: This account can be opened with a minimum deposit of $2,500 and a maximum of $9,999. This account gives traders additional features, such as market reviews, weekly financial research and an introductory private session with a personal analyst.
Silver: With a minimum deposit of $10,000, you can open the Silver account at Coinibank, which gives you additional monthly sessions with a private analyst. You can invest as much as $24,999 and they can help you in making good decisions.
Gold: Coinibank has come up with this account option for experienced traders due to which its deposit requirement begins at $25,000 and you can invest as much as $99,999. Therefore, a money management plan is included in this account to help traders in managing their funds.
Platinum: This account type was developed for seasoned and advanced traders at Coinibank and the deposit requirements start at $100,000 and go as high as $499,999. This account comes with a senior account analyst who can help you in developing a financial plan for the long run. You also get protected trades under this account.
- It offers you excellent trading conditions
It is a given that every trader wants to earn as much money as possible via crypto trading. However, you also have to consider the costs of trading before you start counting your profits. The costs depend on the broker you choose because there are some brokers out there who are only interested in exploiting their clients. You don’t want that to happen, which means you have to be careful when choosing a broker to ensure they offer you the trading conditions acceptable to you.
If you go with Coinibank, you don’t have to worry about the trading conditions because they offer some of the best and flexible ones in the market. The first thing you need to know about Coinibank is that they are straightforward with their pricing and don’t spring up any hidden charges on you later on. There are no account inactivity fee, transaction fee etc. to worry about. Withdrawals do incur a cost, but it is very small and is only due to crypto transactions. Deposits are free of charge and are instant.
The question is how does Coinibank makes its profits? Rather than going for the commission model, this broker makes its money via spreads. It is the difference in the price of an asset when you buy and sell it. Even in terms of spreads, the broker is very competitive and keeps them very low, which means you can earn a significant amount.
- It offers comprehensive educational resources
The crypto industry is still evolving, which means there is plenty to learn about the industry and how it works. It is true that beginners have a lot to learn and understand, but even experienced traders need help every now and then because new strategies are introduced regularly. In order to ensure its clients don’t step into this market without armed with proper knowledge, a trading academy has been developed by Coinibank. The educational resources are quite comprehensive and are available in the form of e-books, webinars and online video courses and tutorials. There are multiple courses available on different topics pertaining to crypto trading and can offer valuable information.
- It offers other earning opportunities
When you opt for Coinibank, you don’t just earn by using the brokerage’s trading platform for buying and selling crypto CFDs. There are other earning opportunities that can also be explored like through the referral program the broker has devised. Put simply, when you refer someone to the broker and they create and account and use it for trading, you can earn a commission. Every single referral, which involves depositing more than $2,000 with Coinibank earns you $200. This makes it easy for you to earn a substantial sum just by asking your friends and family to use this broker for their trading needs.
- It offers round the clock assistance
During your trading journey, if you have any questions for the broker or you are stuck with a problem, you would need to reach out to their customer support department. Coinibank has made this process very easy as they have developed an FAQ section that can be used for seeking common answers. If you have a unique issue, you can get in touch with them through various channels, which include email, phone and an online contact form. Their agents are polite, responsive and very friendly and they will answer your questions quickly to help you avoid any further issues.
Conclusion
By offering these features and services, Coinibank is able to provide the right trading conditions that any trader would need for investing in cryptocurrencies. Even the most experienced traders will enjoy the experience. The security infrastructure is also exceptional and banking is super-smooth, making it a good choice over other crypto brokers in the market.
