Coinmetro Review

Are you overwhelmed by the hundreds of cryptocurrencies or complex trading tools you find on a crypto exchange? Well, Coinmetro can be your oasis of simplicity. You'll find out why in this Coinmetro review!

In short, this platform has a user-friendly interface, adequate trading features, and major assets that suit those new to the crypto world – they don't have to be overwhelmed by choice. For more details, scroll down to see the pros and cons of the exchange, as well as answers to questions like “Is Coinmetro safe?” and “Can I withdraw my funds from the platform?”.

Still, if you're more experienced, I think more established options like Binance or Bybit offer the advanced tools and extensive crypto listings you need.

Verdict at a glance: The Coinmetro crypto exchange caters primarily to beginner and intermediate traders. It offers a user-friendly interface, a sufficient range of cryptocurrencies, and additional financial services. While it's a good starting point for those new to crypto, more experienced traders might find its features and asset listings limited.

What is Coinmetro?

To start this Coinmetro review, let's get familiar with the platform. Coinmetro is an Estonia-based centralized cryptocurrency exchange. Led by Kevin Murcko, the platform was created in 2017 by a team with a proven track record in technology, trading, and finance. Their previous venture, FXPig, a Forex trading platform, has been operational since 2011.

With numerous exchanges already existing, what is Coinmetro's unique mission? As stated on its official website, this platform aims to make the world of finance accessible and transparent for people around the world, regardless of their location or experience.

To achieve this purpose, besides trying to be user-friendly and regulatory compliant for many countries across the globe, it provides 24/7 helpful and responsive live support and multiple communication channels, from Telegram to social media like TikTok and X (Twitter). You can even talk directly with Kevin Murcko via YouTube Live.

This focus on accessibility and community engagement sets Coinmetro apart from its competitors.

Overall, I see that this exchange has evolved since the Coinmetro ICO. Reviews on websites like Trustpilot and app ratings on Google Play and App Store also indicate that this platform is reliable. “The platform focuses on giving their users the best experience possible”, some users say.

Moreover, Coinmetro claims to cater to both beginners and professionals, with an easy-to-navigate interface and advanced trading tools, like placing market orders or setting up limit and stop orders without hassle. Well, is it true? Let's see and find out in this review about Coinmetro.

Coinmetro Review: PROS

After discussing the basic concept of the platform, let’s explore what makes this exchange an appealing option. In this part of the Coinmetro review, I’ll discuss its compliance with security standards and regulations, user-friendly interface, diverse trading options, and innovative investment features.

Adheres to Regulatory and Security Standards

As many major exchanges exist with robust security measures, you may question, “Is Coinmetro safe?” or “How does it compare in terms of security?”.

Coinmetro claims that it uses many security features that have proven the success of FXPig, helping users feel more secure in terms of logging in and payment approval.

One key security feature is two-factor authentication (2FA). With this added layer of security, accessing this account needs both a password and a unique multi-digit code sent to a registered physical device, such as a phone.

Besides 2FA for account access, you can activate IP address verification and SMS verification to confirm your identity on Coinmetro during the know-your-customer (KYC) process. With IP address verification, an email is sent to your registered address to confirm you’re the one logging in. Meanwhile, SMS verification involves receiving a one-time six-digit code on your phone.

Is Coinmetro safe enough with those measures? Well, if you download the mobile app and your phone is equipped with Face ID, you can further enhance your account security by activating this feature and setting a passcode.

Another security protocol worth mentioning in this Coinmetro review is multi-signature transactions, which require two signatures to confirm a transaction. One signature is stored on BitGo’s server, and the other is kept at the Coinmetro backend. To compromise this multi-signature wallet, an attacker would have to breach both BitGo’s and Coinmetro’s highly secure servers.

Also, remember that I mentioned its purpose is to make crypto accessible globally earlier in this review about Coinmetro? To realize that vision, this platform has taken regulatory compliance seriously since day 1. At the time of writing, it has partnered with six top-tier financial institutions and regulatory bodies across the globe:

• Estonia
• Lithuania
• Canada
• USA
• UK
• Australia

It’s also an EU-licensed exchange, demonstrating its commitment to meeting stringent financial regulations. Besides these established partnerships, ongoing efforts to expand regulatory compliance include the EU, Mexico, and UAE.

Your Trading Experience Elevated With Various Features

Coinmetro offers several trading features that can be beneficial for both beginners and seasoned traders. These are the spot exchange and margin trading, copy trading, and the Swap Widget.

Coinmetro's core exchange functionality offers all the necessary tools:

• Order types. You can choose the market and limit orders to execute trades at desired prices.
• Trading pairs. Coinmetro offers a diverse selection of cryptocurrency pairs to choose from, catering to different trading preferences and strategies.
• Trading chart. It’s a real-time price chart with various technical indicators and tools to assist in market analysis, such as pitchfork to identify potential support and resistance levels and magnet mode to snap price points to specific chart levels.
• Order book. It’s a visible representation of buy and sell orders for a specific cryptocurrency pair, providing insights into market depth and liquidity.

Beyond its exchange platform, Coinmetro provides margin trading, allowing you to increase your trading potential.

Margin trading means you borrow funds from the platform to boost your purchasing power^[1]. In this case, Coinmetro provides up to 5x leverage, meaning you can potentially invest five times your initial amount. For example, instead of investing your entire $100, you could trade with $500.

Margin trading typically requires collateral, which usually poses a problem.

Don’t worry! In this case, you can rely on Coinmetro. Crypto exchange platforms often provide limited options for collateral, but this platform offers multi-collateral, letting you choose which assets to use as collateral (e.g., USD, EUR, USDC, and BTC) and how much of each asset to allocate. This flexibility allows you to manage your risk and optimize your trading strategy.

To add even more flexibility, Coinmetro allows you to open both long and short positions using margin. A long position means betting that the price of the cryptocurrency will increase, while a short position involves betting that the price of the cryptocurrency will decrease.

The margin trading interface shares similarities with the exchange, but integrates specific tools like the profit/loss bar for real-time position tracking and stop-loss orders to manage potential risks.

If margin trading isn’t appealing to you, you can try another feature on the Coinmetro crypto exchange: copy trading or it’s called TraM on Coinmetro, short for Trade Mirror.

This feature allows users to mirror the trades made by a manager. They can automatically copy the manager's trading activities, including buying and selling cryptocurrencies. With copy trading, users don't have to constantly monitor the market or make complex trading decisions, benefiting from the manager's expertise and market insights.

TraMs can be either public or private, with most being private. Private TraMs are exclusive, and accessible only through a link shared by the manager. Meanwhile, public TraMs undergo a detailed evaluation by Coinmetro and are managed by experienced traders with a proven history of successful trading.

Besides copy trading, any Coinmetro review I think might highlight the Swap Widget on this platform. It’s a convenient tool located on the Coinmetro dashboard or on the Swap page of the mobile app. With just a click of a button, it lets you swap most of the assets listed on the platform, offering a quick and easy way to buy or sell cryptocurrencies.

Unlike the exchange functionality that only supports specific exchange pairs, the Swap Widget enables you to swap any crypto-to-crypto, fiat-to-crypto, or crypto-to-fiat. This means you can get more of all your assets in a single trade, removing the hassle of performing multiple individual transactions.

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Maximizing Your Crypto Earnings

After reading the previous advantages, you may think, “What is Coinmetro’s unique selling point other than trading features and user-friendly interface? Many exchanges have those!”. If that’s the case, I think you might be interested in its variety of earning features: staking, Multi-Asset Rewards (MARs), and Levels. Let’s discuss these options one by one in this section of the Coinmetro review.

Coinmetro provides attractive staking rewards – you can earn up to a 16% annual percentage rate (APR)! Meaning, there’s a possibility that you can double your investment in just a few years, depending on the specific APR and the cryptocurrency staked.

This rate is quite high because, generally speaking, APRs on many cryptocurrency exchanges range from less than 1% to around 10%.

More importantly, Coinmetro has a wide variety of staking options including XCM, ETH, and KSM, so you can pick which coins align with your interest. You can also set your own staking preferences, which may include the staking duration and the amount of crypto you want to stake.

Besides staking, this exchange lets you earn money through Multi-Asset Rewards. With MARs, users can buy and stake XCM, Coinmetro’s utility token, and earn additional cryptocurrencies as rewards for doing so on a daily basis. This provides diversification benefits while generating passive income regularly.

At the time of writing, the additional “bonus” token is KDA (Kadena), but you’ll see FLUX (FLUX), THT (ThoughtAI), VSP (Vesper Finance), and many more coming soon. Coinmetro MARs eliminates gas fees on rewards, which are claimed off-chain for instant access to your earnings. This way, you can sell, trade, withdraw, or even re-stake your rewards immediately.

Moving on to the other earning feature is Levels. It’s Coinmetro’s loyalty program designed to reward active users. The "Level" determines specific benefits each user receives, and it's based on the points they accumulate through trading activity.

Levels has eight tiers, with increasing benefits as you advance. Some benefits when using this system include:

• Free monthly swap. Enjoy one commission-free cryptocurrency exchange per month for transactions under €100.
• Discounted trading fees. Benefit from reduced fees on both maker and taker orders.
• Credit card deposit savings. Reduce fees on instant credit card deposits.
• Faster fiat withdrawals. Experience lower charges and quicker processing times for EUR and GBP withdrawals. Meanwhile, Coinmetro USA Business account holders can enjoy the benefits of USD domestic wire transfers.
• Priority customer support. Receive dedicated assistance from the Coinmetro support team.

Every trade you make on Coinmetro, whether through the Swap Widget, "Exchange", or "Margin", accumulates points that determine your Level.

Each euro (or equivalent) traded on "Exchange" or "Margin" earns one point, while the Swap Widget trades double that value. Furthermore, users with active XCM staking plans benefit from a points multiplier, which significantly boosts their Level progression and rewards.

Overall, what I want to highlight in this Coinmetro review is that all these earning features, from the exchange functionality to Levels, definitely make an appealing choice when you want to pick the best cryptocurrency platform. For example, by doing one activity, such as stacking XCM, you can get points for Loyal and additional cryptocurrencies through Multi-Asset Rewards.

Convenient Interface on Both Mobile and Desktop

Coinmetro boasts an impressive range of features, but accessibility is key. Thankfully, navigating the platform is straightforward (I think you won’t get lost in the process!).

The platform's layout is clear and easy to follow, with essential features readily accessible.

I personally can quickly find the information and tools I need without confusion because Coinmetro already categorizes the main features on the top bar (if you access it via desktop), making the navigation much easier. The remaining functionalities, like making a deposit or initiating a withdrawal, are also clearly visible and organized.

For mobile phone users, the mobile app provides essential information and functions right at your fingertips, divided into four icons on the lower bar. You can easily track your favorite cryptocurrencies, monitor market trends, and check your Level progress, all from the homepage.

One feature I find interesting is Twitter Sentiment (although the name is outdated – it should be named “X” now). It’s a sophisticated tool that analyzes millions of tweets to determine overall market sentiment toward cryptocurrencies. This sentiment data is crucial for informed trading decisions and is also used by major financial institutions like Fidelity, Sequoia, and CME.

All information, from trading pairs to fees, is presented clearly and understandably. The Help Center provides detailed explanations for various processes, such as signing up, buying crypto, adjusting security settings, and using trading features.

If you're confused with certain terms or features within the platform, you can find an “i” or question mark symbol conveniently placed throughout the exchange to provide clear and concise explanations. You either see a bubble or a changed interface, or you’re directed to a new page showing the information.

Another thing boasted in several user Coinmetro reviews is that you can customize the trading interface to suit your preferences. For example, you can reposition the "Order Book" and "Order Form" on the "Exchange" page. Additionally, your mobile app's home screen can be personalized to display only your preferred assets.

XCM: Your Key to the Coinmetro Ecosystem

XCM is among the platform’s most important products since it acts as the platform's utility token. Utility tokens are exclusively designed to access specific goods or services provided by their issuer^[2].

From the previous sections of this review about Coinmetro, you may already notice that this token is essential for various platform functions, including fee payments and staking rewards. Also, XCM holders benefit from discounted fees and exclusive access to certain platform features.

As an ERC-20 token, XCM adheres to the Ethereum blockchain's standard for fungible tokens, ensuring compatibility and interoperability with other Ethereum-based platforms and wallets.

XCM's value is fortified by a unique tokenomics model. The Coinmetro crypto exchange uses part of its trading fees to buy back XCM tokens and then burns half of these tokens to reduce the total number of XCM available. This deflationary mechanism can positively impact token prices.

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Coinmetro Review: CONS

No platform is perfect, and Coinmetro is no exception. While it offers a robust set of features, there are certain areas where improvements can be made. In this section of my Coinmetro review, I'll talk about some of the platform's shortcomings.

Limited Crypto Availability

One drawback that I want to highlight in this Coinmetro review is the limited cryptocurrency selection. With only around 50 cryptocurrencies available, traders seeking a wide variety of options may find their choices restricted compared to other platforms like Binance and Bybit offering hundreds or even thousands of digital assets.

While this might seem limited compared to some platforms, it focuses on providing access to the most established and widely traded digital assets, like Bitcoin and Ethereum. This curated approach can be beneficial for traders who are new to the crypto market and want to avoid the overwhelming number of options available on larger exchanges. If you're primarily interested in these major cryptocurrencies, this limitation won't be a significant issue.

However, if you're looking to explore more niche or emerging cryptocurrencies, Coinmetro might not be the best choice. In that case, you might want to consider a platform with a broader range of digital assets.

Fewer Deposit Choices

Similarly, the platform's fiat currency options are also limited, which could inconvenience users who prefer to use specific currencies on Coinmetro. USA, European, Australian, and Canadian citizens can easily use the platform because it supports fiat deposits and withdrawals in AUD, EUR, GBP, and USD only.

With this fiat limitation, other countries that don’t use the mentioned fiat currencies might face challenges. They must convert their currency to supported fiat currencies or cryptocurrencies before purchasing assets on Coinmetro because this platform lets you deposit using crypto but doesn't support direct fiat-to-fiat currency exchanges. This could add extra steps and potential costs for users from countries outside the supported regions. 

Past Security Incident

As I mentioned in the earlier part of this Coinmetro review, this platform actually has decent security measures to protect users. However, it experienced a hack in 2020, resulting in the theft of small amounts of cryptocurrencies, including PRQ tokens, from the exchange.

Luckily, Coinmetro's response to this incident was swift and reassuring. They noted that the losses were mitigated quickly and that customers' funds remained secure. The exchange claimed that all affected users were fully reimbursed, thanks to their "snapshot technology." This technology recorded user balances before the hack, allowing Coinmetro to restore the stolen funds to their rightful owners.

While this incident highlights the potential risks associated with cryptocurrency exchanges, it demonstrates Coinmetro's ability to handle security breaches effectively. Their swift response and use of advanced security technology to protect user funds are positive indicators of their commitment to security.

Coinmetro Fees

After weighing the pros and cons, if you're considering joining Coinmetro, understanding the fee structure is essential. In this section of the Coinmetro review, I'll outline the platform's trading, deposit, and withdrawal costs to help you make an informed decision.

Trading fees vary a lot depending on your Level and the trading features you use. For example, the Swap Widget users can enjoy a fixed exchange rate guaranteed for 30 seconds, which differs from rates on the main exchange. As a bonus, Levels 1-8 members get one free swap per month (for swaps with a maximum transaction of €100).

Meanwhile, you either incur a taker or maker fee when placing an order on the Coinmetro crypto exchange and margin trading:

• Taker fees. These apply to orders that are executed immediately, which typically happens when you place a market order, as it removes liquidity from the order book. On the Coinmetro Exchange and Margin, taker fees range from 0.06% to 0.1%, depending on your Level.
• Maker fees. These apply to limit orders, placed in the order book waiting to be filled. Because those add liquidity to the market, they're considered "maker" orders. On Coinmetro, maker fees range from 0.005% to 0.10% based on your user level. For margin trading, a 0.1% fee is charged both when entering and exiting a position.

If you use the copy trading feature, a “flat” fee applies to all user levels, which includes an exchange fee (0.1%), manager performance fee (1-5%), and Coinmetro's performance fee (1-5%).

Besides trading fees, Coinmetro users incur charges for fiat currency deposits and withdrawals. These costs vary depending on your Level, selected currency, and payment method.

The deposit charges range from free to $40 or use a percentage fee for debit/credit card transactions, which can be dynamic and substantial depending on your deposit amount. Meanwhile, the withdrawal fees can range from €3 to €50 or around $5 to $60 for Coinmetro USA users or anyone with US dollars.

Coinmetro USA Business account holders can also have the option to make USD domestic wire deposits with a $40 flat fee for amounts up to $200k or a 0.02% fee for larger sums.

If deposit fees apply to fiat currencies, cryptocurrency deposits are free on Coinmetro. However, withdrawal fees (which include a fixed fee in asset and network fee) apply and vary based on the asset. Network fees are added to withdrawals based on the specific blockchain used and are shown before you confirm the transaction.

This Coinmetro fee system looks a bit complex, right? Where do all the money go? Well, Coinmetro's fee structure is designed to benefit XCM stakers. All of the exchange fees are used to purchase XCM from the market, rewarding those who support the network. Stakers can earn up to 50% of their trading fees back in XCM, creating a positive feedback loop within the platform ecosystem.

How to Use Coinmetro?

Having explored Coinmetro's strengths, weaknesses, and fee structure, it's time to delve into the practical aspects of using the platform. In this final part of the Coinmetro review, let's explore the signup process and cryptocurrency purchasing on the platform.

How to Sign Up on Coinmetro?

Signing up on Coinmetro is pretty straightforward. You just need to register an account and verify your identity. Before proceeding, note that the platform requires its users to be at least 18 years old. If you’re qualified, follow these steps to create an account on Coinmetro via desktop:

Step 1: Visit the Coinmetro homepage and click the “Create Account” button at the upper top of the page. Choose whether you want to create a Personal or Business account.

Personal accounts can only receive funds from a personal bank account in the account owner's name, provided the owner has completed their profile verification. Business accounts have stricter requirements, allowing deposits only from verified business bank accounts or the personal account of the sole business owner.

Step 2: Fill out the form to set up your login details by typing in your email address and setting up a password.

Alternatively, sign up using Single Sign-On with your Facebook or Google account and log in with the click of a button. Those with Apple devices can have the option to sign up with their Apple ID. Don't forget to read and check the terms and conditions box to agree to the platform's rules and policies before proceeding.

Step 3: Then, you'll receive an email asking you to confirm your account and verify your email address. After confirming it, you can log in or scan a barcode displayed using your mobile device to start the profile verification process. There are four steps you need to complete the process:

• Personal verification. It involves answering questions related to your job, source of income, and expected activity (filling in your estimated net monthly income and monthly deposit) while taking a live selfie using its advanced verification system. This step aims to verify your identity, assess your financial situation, and comply with anti-money laundering (AML) regulations.
  
• Phone verification. To verify your phone number, you'll receive a 6-digit code via SMS. Simply enter this code into the provided box or paste it directly for quick verification. This type of verification helps improve your account security. Therefore, it’s important to sign up with your own phone number when making an account since it’s against the terms of use to register with another user's phone number.
• Identity verification. In this step, you need to provide a clear photo of your passport, driver's license, or identity card. While passports from any of our licensed regions are accepted, driver's licenses and identity cards are primarily valid for residents of the European Economic Area and most EU countries. The platform automatically determines the required document based on your selected country of residence.
• Address verification. This last step of verification requires you to submit a photo of your proof of address documents, such as utility bills (gas, water, or electric), bank statements, tax income letters, or residential property rent/lease agreements. Whatever address document you choose, it must display your name, and the issue date, which must be dated within the past 3 months.

Only after you upload these documents can you access the features of Coinmetro, from making a deposit to withdrawal. This process can sometimes take up to 48 hours for the team to review your documents. You can see the progress on your dashboard – just click the “Verify My Account” button within the Portfolio box.

The complete verification is green, while the rejected document is marked as red with a note of why the document is rejected and how you can resubmit it.

How to Buy Crypto on Coinmetro?

To get started, you need to fund your account with either fiat or cryptocurrency. In this Coinmetro review, I show you how to deposit fiat into my Coinmetro using a credit card, and here’s the process:

Step 1: Navigate to your Coinmetro Dashboard and select the "Add Cash" option.

Step 2: Choose the fiat currency you want to deposit by clicking on the dropdown.

Step 3: Enter the amount you want to deposit.

Step 4: Select the credit card method.

Step 5: Hit the “Add Cash” button, and then you’re redirected by its payment processor to enter the card details and complete the payment. Note that pre-paid or virtual cards are not accepted.

For security purposes, you may be required to enter a one-time password (OTP) provided by your bank to verify the transaction.

When funding your account, make sure to follow the specific instructions for each currency. For example, at the time of writing, you’re only able to send AUD, GBP, and EUR to Coinmetro via bank transfer. Also, depositing via a debit/credit card is only available for EUR, GBP, and USD.

Once your account is funded, you'll be able to make your first crypto purchase on the platform. There are two ways you can do it: using the Swap Widget, "Exchange", or margin trading feature.

Buying Crypto via Swap Widget

Beginners can benefit from the easy usability of the Swap Widget by following these steps:

Step 1: Navigate to the widget on your dashboard or the “Swap” page on the mobile app.

Step 2: Select the crypto from and to the box. To buy from fiat, just click on the “Fiat” menu, but you can also swap from a crypto. Scroll down or type the asset on the search bar for easier navigation.

Step 3: Enter the amount you want to trade or swap. Red text error with caution will appear if your account balance isn’t enough to swap.

Step 4: Click “Review” to see the fees, price difference, and exchange rate, and then hit the “Swap” button to complete your transaction.

By following the four simple steps outlined above, you can easily buy cryptocurrencies directly from their dashboard or mobile app. The Swap Widget offers a fixed rate for 30 seconds, providing certainty and helping mitigate potential price fluctuations during the transaction.

Buying Crypto via Exchange

If you consider yourself an experienced trader or want to try the advanced tools, use the exchange platform to buy crypto on Coinmetro. Here are the steps to do so:

Step 1: Hit the “Exchange” menu on the top bar, and you should see the price charts with built-in trading indicators and the order book for all orders for trading pairs.

Step 2: Select the trading pair at the top of the chart.

Step 3: Click “Buy” on the “Order Form” section and select a “Market” or “Limit” order.

Step 4: Enter the amount of crypto you want to buy and click “Buy”.

Step 5: Hit the “Place Order” to complete your transaction.

Tip: Try the demo version for a risk-free exploration of Coinmetro's features.

Pros

• Very low trading fees
• Exceptional functionality
• Mobile trading app

Main Features

• Very competitive trading fees
• An intuitive mobile app
• Up to 100x leverage available

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Pros

• A very well-known crypto exchange platform
• More than 500 different cryptos available
• Two-factor authentication

Main Features

• Over 500 different cryptocurrencies available
• Strong security
• Small withdrawal fees

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Pros

• Fully reserved and transparent
• Multiple tradable asset classes
• Early new token support

Main Features

• 265 supports cryptocurrencies
• Secure & transparent
• Fully reserved

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Conclusions

After reading this Coinmetro review, I bet you noticed that this platform is a promising option for those new to cryptocurrency.

Yes, it covers certain features that may appeal to more experienced traders, but I think the overall platform design and functionality lean towards catering to beginners. Its user-friendly interface and straightforward approach make it an accessible entry point into the world of digital assets.

Still, you should consider its fee structures and limited cryptocurrency and deposit choices. While Coinmetro offers a user-friendly experience, it's essential to evaluate these factors against your specific trading needs.

So, what is Coinmetro’s alternative that’s more suitable for professional traders? Well, you can consider more established exchanges like Binance and Bybit, as these offer advanced trading tools, a wider range of cryptocurrencies, and greater liquidity. Those platforms cater to both beginners and professionals, providing a more comprehensive trading experience.

The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor.

Scientific References

1. D. Ladley, G. Liu, J. Rockey: 'Losing Money on the Margin';

2. J. Kaisto, T. Juutilainen, J. Kauranen: 'Non-fungible Tokens, Tokenization, and Ownership'.