how to use cobinhood: Cobinhood Exchange: User Review Guide

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how to use cobinhood

Cobinhood offers comprehensive fundraising methods that make ICOs successful. With Cobinhood’s help, ICOs have raised 29,400 ETH, which is about $64,056,882 USD. Cobinhood are guaranteed five percent of the funds raised during an ICO.

If the referred user reaches the Level 2 verification within a month of registration, both the owner of the link and the user get the reward. The Daily Bonus Draw can be reached by making a successful transaction on COBX, with a maximum of one entry per day. The awarding is done through Cobinhood’s “Candy Machine”; crypto prizes are random and can include up to 1 BTC. Cobinhood does need to make money and the profits come from performing underwriting services for ICO’s. These services include listing the coin on the platform immediately after ICO, to help with its liquidity and initiate the coin trading. They also offer reviews for smart contract technology, business advice and other general blockchain technology consultancy.

The co-founder of the platform and its current CTO is Wei-Ning Huang, a three-year long employee of Google and a seasoned veteran in the development game. Huang specialized in building large scale web applications which demand a lot of availability and throughput, which are key features required for a working blockchain product. Moving forward, however, Cobinhood seems to plan to continue operating as normal.

The exchange is also known for having limited regulatory oversight and due diligence. Cobinhood is a cryptocurrency exchange that promises low fees and convenient desktop or mobile trading. The popular exchange appears to have survived some controversy in 2019, although it still has its share of issues. After receiving the response, you will receive a snapshot of the candle data,
followed by updates upon any changes to the chart. The withdrawal fees are there, but COBINHOOD does not profit from withdrawal transactions, these fees will go to the miners who are responsible for maintaining the network. Master The Crypto is a financial publisher that does not offer any personal financial advice or advocate the purchase or sale of any security or investment for any specific individual.

To find a reliable exchange where you can start an account, just use our Exchange Filters and we’ll help you find the right platform for you. Cobinhood is a coin exchange registered at the Cayman Islands. After subscribing this topic, you will start receiving recent matched loans,
followed by any loan that occurs at COBINHOOD. Returns available precisions in scientific notation of orderbook by given trading pair. A key element in your trading experience will be the small window positioned on the upper right of your chosen pairing screen.

The total supply is 1 billion tokens with something over 300 million in trading. The token did rise to 1.20 in price at the turn of the year and has since been in a slow downward spiral. They create custom promotion campaigns which aim to reach the audiences that would be the most interested in a token.

how to use cobinhood does not offer any sort of financial or investment advice. Please make sure to do your own research, make educated financial decisions and consult your Financial Advisor. Torsten Hartmann has been an editor in the CaptainAltcoin team since August 2017.

The zero-fee exchange quickly became popular, fueled by high-volume traders interested in a cheap market with limited regulation. Cobinhood is an exchange on which you can trade for free, there are no transaction costs for buying and selling other cryptocurrencies. Cobinhood offers more services, such as Initial Coin Offering (ICO) underwriting services. You can trade around 25 cryptocurrencies including BTC, ETH, and their own token COB. Cobinhood also does airdrops which can be surveyed at this link.

Exchange Fees

Then you have to check the boxes by which you accept the terms and conditions and confirm that you don’t reside in New York State, Japan or are a Japanese citizen. After you’ve signed up, you will receive a confirmation mail that contains an activation link. After receiving the response, you will start receiving recent trade,
followed by any trade that occurs at COBINHOOD. After subscribing this topic, you will start receiving your positions’ status updates. Check whether withdrawal is blocked because of recent suspicious account activities.

how to use cobinhood

Cobinhood does not list US-investors as prohibited from trading, but US-investors should do their own independent assessment of any problems arising from their residency or citizenship. In a worst-case scenario, they may not be able to trade at one or several exchanges that could be the best cryptocurrency exchange site for them (maybe including this one). You can view your current funds from the Deposit/Withdraw tab.

User’s position updates

This is the equivalent of 3 USD for QRC-20 tokens and the equivalent of 8.4 USD for the ERC-20 tokens. The Cobinhood claims that the part of the fees is used to “cover internal transfer fees between deposit wallets and hot/cold wallets”. A serial entrepreneur and a holder of a Master’s Degree in Electrical Engineering named Popo Chen founded Cobinhood and is its current CEO.

how to use cobinhood

If you want to deposit or withdraw with USD, then you’ll need to pass Cobinhood’s level two KYC verification. Both methods will enable you to import your transaction history and generate your necessary crypto tax forms in minutes. File these forms yourself, send them to your tax professional, or import them into your preferred tax filing software like TurboTax or TaxAct. This exchange does not accept any other deposit method than cryptocurrencies, so new crypto investors are actually restricted from trading here.

Cobinhood Account Signup & Verification

If you want a no-fee, limited-regulation trading platform, then Cobinhood is a decent option, although there’s certainly some risk involved. You can choose to receive an alert every time someone logs into your account. As with other exchanges, Cobinhood recommends setting up 2FA to increase security. Click on ‘’Sign up’’ and fill in your email and create a password.

Every time you log in from a new IP address or a device, the platform will send you a “New Device Confirmation” message in your inbox. Two factor authentication measures are also available, either by Google Authenticator or SMS. An ICO for COB was held from 13th September to 23rd October 2017.

How To Do Your Crypto Taxes

All timestamps exchanged between client and server are based on server Unix UTC timestamp. Please refer to System Module for retrieving server timestamp. The team at only recommends products and services that we would use ourselves and that we believe will provide value to our readers. Affiliate partners cannot pay CaptainAltcoin to guarantee favorable review or higher ratings on the website.

Cobinhood offers its users a chance to trade either via their browsers or via a mobile application. If the previous steps were completed you are now free to click the “Sign Up” button. Click the link provided in the e-mail and your account will become active, of which you will be notified with a follow-up automated e-mail from Cobinhood. Cryptocurrencies like bitcoin are treated as property by many governments around the world—including the U.S. Other forms of property that you may be familiar with include stocks, bonds, and real-estate. If you need to take care of your cryptocurrency trading while on the go, Cobinhood makes it possible through the COBINHOOD Exchange App.

Cobinhood is a quality exchange that excels at offering zero transaction fees trading. It offers underwriting services and a nice, expanding collection of tokens that can be traded via a quality interface. It will be a good option for anyone wanting to trade cryptocurrency, from the absolute beginner to most advanced traders. There are 4 major trading pairs available on the Cobinhood exchange, BTC, ETH, USDT and COB, which is the platform’s token. The contents of every coin page include the same parameters like the latest trading price, 24 hour change and 24 hour highs and lows. You can also view the trade history for the selected pair plus the order books.

  • File these forms yourself, send them to your tax professional, or import them into your preferred tax filing software like TurboTax or TaxAct.
  • It offers underwriting services and a nice, expanding collection of tokens that can be traded via a quality interface.
  • According to information on its website, it has users from more than 100 different countries.
  • Cobinhood prides itself with the fact that they are the first exchange in the world that does not charge any trading fees for spot trading.
  • All content on CaptainAltcoin is provided solely for informational purposes.

Activities which can cause withdrawal to be temporarily blocked include changing password, resetting password, disabling two-factor authentication. Returns recently 50 periodly updated, cached trades of given trading pair. Pass the JSON stringified JSON array as the order query parameter in url to order the queried data. Order array will be evaluated to ORDER BY arguments in a SQL query. Each element is a order object with column to order by and the order keyword(asc|desc).

The company discloses the names of three employees, including company founder Popo Chen. Cobinhood also links to each person’s contact information and LinkedIn profile. However, the exchange is less transparent about where it’s based, and it’s difficult to trust an exchange that requires users to go through limited KYC verification. The bankruptcy issue in May 2019 makes it even more difficult to trust Cobinhood, especially given that many users had deposit and withdrawal issues in the months following the incident. Cobinhood has no trading fees whatsoever, including 0 taker fees and 0 maker fees. The company does have a withdrawal fee of 0.001 BTC, which is high compared to most competitors.

A team of lawyers handles the regulatory and legal risks while helping with issues related to paperwork, whitepapers, identification of investors and more. Cobinhood offers its ICO’s marketing and promotion services designed to create a positive public image and brand awareness via social media and strategic communications. Users are given an option to favorite trading pairs by clicking on the star next to them.

Cobinhood has a standard trading interface for desktop and mobile users. It’s generally easy to use and is user-friendly for both beginner and advanced traders. A guided tour introduces you to the interface for the first time. You can create market, stop, or limit orders and view exchange data from one display. Pick your market, then price the green “Exchange Buy” or the red “Exchange Sell” button to complete a trade.

Months later, much of the exchange’s functionality is available again, although users reportedly had trouble withdrawing or depositing currency throughout the summer. You can test out the software and generate a preview of your gains and losses completely for free by creating an account. File these crypto tax forms yourself, send them to your tax professional, or import them into your preferred tax filing software like TurboTax or TaxAct. After receiving the response, you will receive a snapshot of the book, followed by updates upon any changes to the book.

Most markets are very liquid (thanks to the zero trading fees), so orders are filled quickly around the clock. However, lesser-known cryptocurrencies may not have sufficient liquidity – especially after the May 2019 incident. Without any further verification, you can already deposit and withdraw crypto and make trades. To deposit and withdraw USD, you will need to complete level two or three KYC verification, which requires submitting your passport or similar identification card.

Controversy aside, Cobinhood offers a wide range of trading options in a low-regulation environment. Spot trading, market orders, limit orders, stop limit orders, and other trading options are all available both in the browser version of Cobinhood and the mobile app. An extensive selection of trading pairs are available, including well-known major cryptocurrencies and dozens of minor, lesser-known tokens. One of the first things you’ll notice about Cobinhood is that there are no trading fees.

Clicking on the “History” tab will show you your previous deposits and withdrawals while the “Withdrawal Address List” keeps track of all the addresses you sent your tokens to. With the total cap of the cryptocurrency market exceeding 400 billion dollars, the exchanges that are basically powering it are popping up left and right. Cobinhood is one such exchange that markets itself as a next-generation cryptocurrency platform. Their main sales pitch in this oversaturated market is that they are the first cryptocurrency exchange that offers its customers zero fees. Cobinhood was launched in 2017 during the height of the crypto boom. The exchange burst onto the scene with promises of no trading fees and an easy trading environment.

Mary Davis
My name is Mary Davis. I am successful broker. I want to share my experience with you through tutorials and webinars. For any questions of interest, please contact us by e-mail: [email protected]. +1 973-709-5130


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