CoinCola Review: Is it a Reliable P2P Cryptocurrency Trading Platform?
Crypto trading is one popular way people make money online today. Even though some world governments do not believe in crypto and have gone the extra mile to regulate and ban crypto trading in their countries, crypto trading is still a thing.
An essential factor every crypto trader considers is the crypto trading platform to use. This is essential to you as a crypto trader because it affects your trading experience in general. An excellent crypto trading platform should offer you good features, competitive trading fees and a wide range of crypto coins.
CoinCola is a powerful peer-to-peer crypto trading platform where people trade cryptocurrencies.
CoinCola is designed for both over-the-counter trading and crypto-to-crypto pair trading.
The crypto exchange supports the purchasing of crypto with fiat money and gift cards. Traders are attracted to this exchange for many reasons, including speed and ease of use.
The abundance of fraudulent crypto exchanges in the crypto space has raised anxiety and doubts among crypto traders about the legitimacy of the CoinCola crypto platform.
I have written a review about the crypto exchange, which gives every detail you may want to know about the exchange.
Table of Contents
Is CoinCola Reliable?
The truth is that CoinCola is a legit crypto exchange that has positively impacted the crypto space since it was launched.
The platform is an excellent route to buy cryptocurrency with gift cards or fiat and sell crypto for fiat.
In case you are still in doubt, I will explain why CoinCola is a legit and reliable crypto exchange in the next part of this review.
CoinCola is one of the fastest and most user-friendly crypto trading exchanges in the crypto space. The platform operates as a web page and an app version that can be downloaded from the app store.
Users can buy and sell any listed crypto coins with bank transfers, online wallets and gift cards. The common crypto coins listed on the exchange are; BTC, ETH, USDT, EOS, BCH, LTC, DASH and XRP, and the trading pairs supported are about six, which are; BTC/USDT, ETH/USDT, LTC/USDT, EOS/USDT, BCH/USDT, and XRP/USDT.
CoinCola is a peer-to-peer exchange that hosts traders from around the world to interact and facilitate their trades. As a buyer or seller, when you find an offer that suits you best, you engage with the other party to further discuss the terms of the trade.
Don’t worry about trust, CoinCola verifies every vendor on the platform to ascertain they are reliable, plus an extra measure of security is in place with the escrow system.
CoinCola has relatively low trading fees, making it a good choice for most traders. Deposits on the exchange are free of charge, and the transfer of assets between OTC and exchange accounts is also free.
On CoinCola, purchasing or selling crypto from an existing advertisement and posting an ad is free.
However, if the advertisement is a buying/selling ad, he will be charged 0.7% of the transaction amount as a trading fee after the deal is sealed.
The trading fee for the exchange market is 0.1%, and the withdrawal fee for BTC is about 0.0004BTC. Other coins also have outstanding withdrawal fees, which you can learn about on the Coincola fees page.
CoinCola is an exchange that can boast of high security given the escrow system on the platform, which holds the traders’ crypto until both parties are satisfied.
Also, the know-your-customer (KYC) policy helps to identify and verify users and their information, making it hard for users to misbehave on the platform.
You can also add another layer of security to your account, making it impossible for a third party to access it. This is called two-factor authentication, which can be in the form of a password, fingerprints, etc.
CoinCola offers cold wallet storage services to users by storing their digital assets in secure offline storage.
CoinCola User Experience
The user experience of a crypto trading exchange is significant in determining your choice. The platform is available as both a webpage and mobile app, in which both versions are excellent.
The platform is swift, devoid of bugs, and very easy to use and navigate so that a novice crypto trader can easily find his way to completing his first trade.
Customer support is excellent and active on the live chat feature on the platform. A long list of frequently asked questions was curated to help users find their answers.
Why CoinCola Is Best For You
CoinCola is an OTC P2P trading platform and an exchange where you can buy crypto from peers and trade cryptocurrency pairs.
The trading and withdrawal fees on CoinCola are relatively low compared to other platforms.
There are multiple deposit options like bank transfers, online wallets and gift cards. Users can easily make deposits with their fiat money or gift cards.
As an OTC exchange, CoinCola lists six crypto pairs that can be traded. Some similar businesses do not have up to this.
Why CoinCola May Not Be Your Best Choice
While we have listed why CoinCola is an excellent crypto exchange, some limitations may prove otherwise.
If you’re a prominent trader who trades many crypto pairs, CoinCola may not be for you because you can only access six crypto pairs.
The P2P trading platform may still pose a threat of scams to you despite the security measures that have been put in place.
CoinCola Reviews and Reputation
CoinCola has commendable user reviews online, and with such reviews, it has a good reputation in the crypto market.
This is evident in the over 1 million users that use the platform, 100,000 transactions processed daily and its presence in over 140 countries.
So far, the exchange has more positive reviews and a few negative reviews, which are pretty typical for every business. The app’s average rating on the Google Play store is 3.8 out of 5.
Crypto trading is a lucrative online business that will fetch you good money if you know the game. The first step to understanding the game is identifying a good crypto exchange like CoinCola and beginning your trading journey.
CoinCola offers the best and very affordable P2P crypto trading and exchange services.