The meteoritic rise present in the cryptocurrency world has led to the development of a lot of websites all promising to offer crypto enthusiast a chance to get their hands on the digital assets. While these exchange services are now featuring all over the internet, not all of them live up to the apparent expectation of their services. Consequently, this man that before taking time to invest in an exchange service or wallet, it's always wise to get a background information review of the service. Luckily for Asia crypto enthusiasts and in particular Singapore, today's discussion will feature one of the region's favorite cryptocurrency exchange that offers to trade and investing services.
Coinhako is a bitcoin-only exchange and wallet that provides user-friendly platforms for Singapore and Malaysia resident who want to buy and sell bitcoin. The platform prides it services as one of the easiest ways for Asians to trade, exchange and stores the digital assets. A further look at their website features also indicates that the platform operates as an entry-level service for users seeking BTC exchange services from throughout Asia.
Characteristics Of Coinhako
Sign up, And Verification
The account creation process on Coinhako only need for one to provide for the name, email address and have a password. Once the verification email is present, the user is further required to have a phone number from Malaysia and Singapore for further account verification in the mentioned countries
Deposits And Withdrawals
Coinhako will accept wire transfers from Singapore and Malaysian-based banks at no fees at all. However, each transaction, whether a deposit or withdrawal will have a cost on the part of the bank. The two processes will also work under a two-factor authentication mechanism to allow for a secure account
Fees And Costumer Service
The Coinhako exchange platform will carry a 0.90% for each transaction hold. Customer service for traders and users with any queries, Coinhako provides for an email support system, and a live customer chat box found on the website. Additionally, they have also their contact and physical addresses where people can call in or visit in case of an situation
Pros And Cons That Come With Using Coinhako
- The price indicator provides for a live price display of the investment and merchant services
- Accepts fiat deposits with no charge for the deposits
- The wallet service offers exchange services directly for convenient trading
- The security of the service is somewhat reputable with no reports of hacks.
- The trading fees are somewhat cheaper compared to other exchange platforms we have come across.
- Offers only three tradable coins that are BTC, LTC, and ETH
- Coinhako is currently available only for Singapore and Malaysian resident who want to participate in Bitcoin trading
- Does not offer a lot of trading options with no derivatives, futures or margin trading available
The Verdict On The Exchange And Wallet
Unfortunately, we did not get an in-depth look at what Coinhako offers, but judging from the exposure the platform is an excellent option for beginner level crypto enthusiasts. Their user-friendly interface provides for a solid look at the quality of their service. However, there are still mixed feelings as to whether the services do work as they promise for investors in either of the participant countries. All-in-all, the BTC platform provides simple functionality for crypto investors starting off.