When you start investing in cryptocurrency, you have a wide choice when it comes to the different kind of brokers. Especially if you are looking for brokers that offer big projects like Bitcoin, Ripple and Ethereum, the choice is enormous. There are dozens reliable brokers to choose from. If you are looking for a broker with top service and nice features such as an app for Android and iOS, then Coinmerce is the right place for you. Coinmerce’s app and website are both available in English and are the perfect starting point in the world of cryptocurrency. In this Coinmerce review, you will find out everything about this company.
First impression of Coinmerce
Coinmerce was one of the first brokers with an app and realized how important an app was for their users. Fortunately, almost all leading brokers nowadays have an iOS and Android app available. So in 2020 that’s not really an USP anymore.
The platform is accessible via the web-based interface and via your mobile phone. On the Coinmerce website, you can access all your information and transactions. In the app, you have your cryptocurrency wallet and you can easily see what the charts are doing and keep an eye on your portfolio.
The platform went through several transformations, making it easier for the customer to buy or sell crypto. Because that is the main goal of Coinmerce, simplicity. They’re still working hard to make the customer journey as good as possible.
Get 10 euros of Bitcoin with Coinmerce
So, you can always visit Coinmerce’s platform via the app and the broker’s mobile site. The support for Coinmerce is also very good and there are multiple possibilities to contact them. Via Whatsapp, Facebook, e-mail and the live chat integrated in the platform, customer service is available 24 hours a day, 7 days a week. This is another area where Coinmerce really distinguishes itself from other brokers. This is experienced as very positive by users of the app, since crypto trading is available 24/7.
Coinmerce has a simple and clear trading platform which is easy to navigate for beginners, but even for experienced traders, the platform has many appealing features. For example, you can use stop-losses and limit orders to place your orders. Coinmerce makes cryptocurrency accessible to everyone and through the app at any time.
The last thing we would like to mention is that they are registered with the Dutch Central bank.
Summary
| Offer | 140+ coins. |
| Fees | 0.4% up to 2.5% + payment costs (compare Bitcoin prices). |
| Payment methods | iDEAL, Bancontact, credit card (Mastercard and VISA), SOFORT, MyBank, EPS, Zimpler and bank transfer. |
| Built-in wallets | Yes, available for all coins. |
| Promotions | No deals for users. |
| Account | Yes, mandatory. |
| Customer service | 24/7 via a live chat, mail and social media. |
| Telephone number | Not available. |
| Email address | support@coinmerce.io |
Coinmerce Pros and Cons
| Pros | Cons |
|---|---|
| Simple portal | Costs for small and large purchases differ widely. |
| A wide offer + built-in wallets | Additional transaction costs. |
| Unavailable by phone. |
Coinmerce offer
With Coinmerce you can buy and sell more than 140 different cryptocurrencies. Together with Bitladon (who offers over 200 different coins), they offer the biggest number of cryptos when looking at other European brokers. The offer has grown rapidly on Coinmerce, so it might be a surprise for some. Until recently there were “only” 75 different cryptocurrencies available. Check the website for the current offer: https://coinmerce.io
All the different cryptocurrencies are available via the app and on the website. The 140 cryptocurrencies can be bought, sold and managed via the app. Read this Coinmerce review to discover more about the buying and selling process, limits and costs.
How to buy crypto with Coinmerce?
Coinmerce is slightly different from other brokers. With many brokers, you first have to deposit credit from your bank account. You can then convert euros into cryptocurrency. With Coinmerce this is not necessary. You choose a cryptocurrency; indicate the amount you want to buy and then pay with your preferred payment method.
So, you pay the exact amount in euros that you are going to exchange for the cryptocurrency of your choice. This saves you an extra step in the process, which we think is a huge plus. The bad side is that you have to pay transaction costs every time when you want to make a purchase.
Before you can buy your cryptocurrency, you must create an account. This is very simple and self-explanatory. In case you don’t know something, you can always contact customer service. They can be reached any time of the day. Creating an account can be done via the website.
| Payment Method | Costs |
|---|---|
| Bank Transfer | Free |
| iDEAL | €0,30 |
| SOFORT | € 0,35 + 2,50% |
| Bancontact | € 0,40 + 1,75% |
| EPS | € 0,30 + 1,75% |
| MyBank | €0,30 + 1,75% |
| Zimpler | € 1,50 |
| Mastercard | 3,50% |
| VISA | 3,50% |
Selling crypto
If you are going to sell a cryptocurrency, you can do so simply by a few clicks on the site or in the app. Because you have no credit in euros in your account like other brokers, your cryptocurrency will be converted into Coinmerce Coins when you sell your coins. 1 Coinmerce Coin is equal to 1 euro. You can more or less see this as a stablecoin of Coinmerce, but you can assume that 1 Coinmerce Coin always equals exactly € 1. With these coins, you can buy new cryptocurrency, but you can also request a payout to your bank account. Payment to your bank account takes about 1 working day, just like any other brokers.
Get 10 euros of Bitcoin with Coinmerce
Verifications and limits
- E-mail address.
- Bank account details by doing a payment.
- Identity card.
- Selfie with proof of identity.
| Registered | Verified | Pro | |
|---|---|---|---|
| Limit (1D) | N/A | € 20.000 | custom |
| Limit (7D) | N/A | € 60.000 | custom |
| Yes | Yes | Yes | |
| Bank | No | Yes | Yes |
| Identification | No | Yes | Yes |
| Selfie | No | Yes | Yes |
| Source of Funds | No | No | Yes |
| Proof of Residence | No | No | Yes |
Fees and costs
Coinmerce’s fees are between 0.40% and 2.5% per transaction. The trading fees are variable and depend on the currency and current supply and demand. Coinmerce’s trading costs are more on the low side when compared to other brokers. Keep in mind that Coinmerce has a more favorable price for 1 BTC and that the fee can be quite high for 0.01 BTC.
The trading fees are variable and can vary at any time of the day. It is therefore advisable to check before buying which broker is currently the cheapest. For example, you can compare Bitcoin or Ripple. Chances are that Coinmerce is high up on the list.
Is Coinmerce safe for trading?
Coinmerce is a very accessible broker and aims to make cryptocurrency available to everyone. Partly due to the app and the customer service that is offered 24/7, is this broker an attractive choice for start-up investors. You can check your investments anywhere via the app.
Coinmerce is officially registered with the Dutch Central bank (De Nederlandsche Bank) since November 2020, which resulted in a more in-depth KYC. This is in any case a sign that Coinmerce is reliable and lays a good foundation for growing in the rest of Europe.
The Dutch based company has created a good reputation in Europe and we can assure that Coinmerce is safe. If you run into problems or have any questions, you will be helped quickly, the transactions will go quickly and without any problems. Because of this, the experiences of users are very good with this broker.
Get 10 euros of Bitcoin with Coinmerce
What are the Coinmerce fees?
Each broker charges trading costs for the user. The trading costs at Coinmerce are between 0.40% and 2.50% and depend on the trading volume, supply and demand. The costs are therefore variable.
How many coins are available at Coinmerce?
At this moment the assortment consists of 140 different coins. Their offer is regularly updated, which means that new coins are added, but also removed.
How do I contact customer service?
Contact support 24/7: support@coinmerce.io, the live chat on the website or social media.
Is there also an app available?
Yes, the Coinmerce app is available for Android and iOS smartphones.
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