CoinCola 2021 Review
CoinCola is an over-the-counter (OTC), peer-to-peer (p2p) cryptocurrency marketplace and digital currency exchange. Though based in Hong Kong, CoinCola provides trading and exchange services to users across the globe with Africa and other developing markets being areas of interest. It has gained a reputation within the crypto industry for having some of the market’s lowest fees and an easy-to-use, integrated platform. Margin trading is also available on the platform.
OTC is a form of trading where buyers and sellers directly trade cryptocurrencies for local fiat currencies in a p2p manner. The exchange component of the platform allows users to convert cryptocurrencies from one form to another, at current market prices.
Overview
- CoinCola offers fast and secure trading services at competitive fees and exchange rates.
- By providing both a peer-to-peer ‘over the counter’ (OTC) trading platform and a crypto-to-crypto pair trading exchange, CoinCola has good features.
- OTC platforms like CoinCola are particularly attractive as they cater to residents of restricted or sanctioned countries – who would normally fail to KYC on most regulated and main exchange platforms.
- By matching buyers and sellers through advertisements, CoinCola provides a secure online escrow to facilitate trustless trades. Other platforms that work in a similar manner include Paxful, Remitano and LocalBitcoins.
- The integrated platform enables digital currencies stored in the CoinCola wallet to be used on their crypto-to-crypto exchange with Bitcoin, Ethereum, Tether, Bitcoin Cash and more.
- Traders on the platform accept multiple payment methods including gift cards so users can easily sell their unwanted gift cards for bitcoin or any other digital currencies. Many fiat currencies are supported including USD, EUR, GBP, JPY, CNY and even Kenyan Shilling, Algerian Dinar, Botswana Pula, South African Rand and most currencies from Asian and African countries that you generally wouldn’t find pairs for on most crypto exchanges.
- Trading is done on a person-to-person basis and transactions are completed via secure online escrow.
- CoinCola claims to enforce multiple layers of security including bank-level encryption, cold storage and SSL to ensure customers can trade with confidence.
- The mobile app makes it easy for users to buy and sell crypto instantly and on the move.
- CoinCola ensures compliance with KYC/AML regulations and provides an intuitive and easy verification process, without compromising user safety and security.
- CoinCola offers 24/7 customer support in multiple languages.
- CoinCola is known for having attractive trading bonuses. For example you can use our rewards code SJ1BHegK to redeem offers. Existing and new users can also earn free BTC via the platform’s referral program. Registered users are entitled to 30% of the transaction fee every time a referred friend completes a buy order on the OTC platform. CoinCola’s Partner Program is another way users can earn free Bitcoin on the platform.
- Fees on the CoinCola platform are reasonable. We’ll explore the fee structures in more detail below.
Fees on CoinCola Platform
Buying/selling cryptocurrencies from an existing advertisement is free. Posting an advertisement is free of charge, however, users who post buying/selling ads will be charged a trading fee of 0.7% of the transaction amount after the order is completed. On the exchange market 0.1% trading fee of the exchanged amount is charged but the specific rate during the trading event is subject to the event details. Withdrawal fees are fixed, regardless of the withdrawal amount. Depositing crypto on the exchange is free and so is transferring assets between your OTC and Exchange Accounts.
| Crypto Asset | Withdrawal Fee |
| BTC | 0.0005BTC |
| ETH | 0.015ETH |
| USDT-OMNI | 15USDT |
| USDT-ERC20 | 10USDT |
| EOS | 0.1EOS |
| XRP | 0.25XRP |
| BCH | 0.0005BCH |
| LTC | 0.009LTC |
| GUSD | 10GUSD |
| DASH | 0.002DASH |
Internal Transfer Fee Structure
| Crypto Asset | Free internal transfer line (per month) | Transfer free/transaction (Excess Amount) |
| BTC | 0.5BTC | 0.0005BTC |
| ETH | 10ETH | 0.015ETH |
| USDT | 1000USDT | 10USDT |
| XRP | 3500XRP | 0.25XRP |
| BCH | 10BCH | 0.0005BCH |
| LTC | 50LTC | 0.009LTC |
| EOS | 150EOS | 0.1EOS |
| DASH | 20DASH | 0.002DASH |
| GUSD | 1000GUSD | 10GUSD |
Conclusion
If you’re new to p2p platforms, CoinCola provides some easy to follow guides on how to create an offer on the platform, how to buy crypto on the app and on their website.
