Cryptocurrency Exchange Coinegg
CoinEgg is a UK-based cryptocurrency exchange. Does not support pairs with fiat currencies. At the same time, a large number of pairs with altcoins, including several less popular coins, are distinguished. It should be understood that such pairs are usually characterized by low liquidity.
Attracts with low commissions – all transactions on the platform are subject to a 0.10% commission.
Among the pluses is the fact that the CoinEgg exchange has been operating since 2013 and during this time it has never been hacked or seen in other similar incidents.
The functionality of the CoinEgg crypto exchange is quite modest. There are no training opportunities, automatic trading with bots is not provided. Withdrawal of funds raises many questions and occurs from a few seconds to seven banking days. Judging by the reviews, there are delays for a much longer period of time.
Analytics cannot boast of specialized programs and is standard:
- Quotation charts;
- Current currency turnover;
- Market depth;
- Minimum / maximum prices;
Experienced traders recommend using additional sources of information to make a forecast. Integration of analytical programs is not possible. At the same time, the interface is intuitive, which allows you to simply figure out how to add pairs to priority transactions and evaluate quotes according to trends.
Trading on the platform and external transactions are supported only in cryptocurrency, since the exchange does not have its own tools for working with fiat funds. On the other hand, this approach guarantees anonymity in transactions within the platform, and also reduces the time required to replenish the account and withdraw funds. Currency storage is carried out on the accounts of the company.
A key factor in the platform’s work is a low commission for the transaction — regardless of the side of the bidder, both the creation and execution of an order are subject to 0.1% of its size. The size of the commission is not affected by the personal trading turnover of the trader. There are no fees for replenishing an account, regardless of the instrument used. For withdrawing funds, the system takes a commission depending on the specific token: on average 1%, for BTC, ETN, ETS, BCH, LTC – a fixed payment, for NEO and KTC – not charged.
More than 40 trading instruments are available for traders to work with. The exchange supports both leading virtual currencies, such as Bitcoin and Ethereum, as well as quite popular and promising altcoins: from Ripple to Docademic.
The tendency of the exchange against the MTC is clearly visible. As already mentioned, CoinEgg does not offer any type of fiat currency integration. Even the slightly controversial Tether tokens (USDT cryptocurrency supported by US dollars) are not listed.
Leverage is not provided. CoinEgg does not allow traders to borrow money, which allows for more aggressive speculation. However, this leads to the fact that users are limited by the available amount of cash and are unable to organize profitable large transactions thanks to borrowed assets.
Trading on the exchange is carried out on 3 main markets: BTC, ETN, USC. Trading against Ethereum is represented slightly – only 5 trading instruments are available for transactions. When choosing each of the markets, traders are offered a list of assets, as well as primary statistical information: last price, token value in dollars, price change, highest / lowest price for the last 24 hours, trading volume for a pair, as well as price trend for the last 3 days . This allows you to evaluate the feasibility of bidding without going to a specific asset.
Selecting a specific pair takes the user to a graph of the movement of the exchange rate. If necessary, you can switch to the depth of the market. Below the chart are orders for the sale and purchase of cryptocurrency, a glass of prices, as well as the history of trading.
For professional traders, a special price chart is available that can be customized. The users are provided with basic indicators that allow for technical analysis.
Protection and Access
- Exchange security is ensured by AML and protection against DDOS attacks.
- Own platform.
- Two-factor IP authentication.
- A pin code is not required for transactions.
- Execution of orders Market Execution.
- User verification is carried out by IP address, two keys are assigned: private and public. In case of loss, the closed code cannot be restored; access to the account is permanently blocked.
The English cryptocurrency exchange CoinEgg is not as advanced as it might seem at first glance. Most of the widely represented currencies are of little value. Therefore, before trading ‘exotic’, it is necessary to analyze the life of the coin, the date it was added to the listing, dynamics and other factors. The service is recommended for trading on the main forks during the period of their activity or in search of a take-off of demand for rare coins for novice traders, players with average volumes.
Advantages and disadvantages
Among the undoubted advantages of the trading platform, one can distinguish:
- Reliability – since 2013, the resource has never been hacked by attackers.
- Low trading fees: a 0.1% commission regardless of the trader’s turnover makes CoinEgg a very competitive exchange.
- Support for major trading tools, as well as less popular altcoins. In total, over 40 assets are available.
- The ability to use advanced graphics functionality. The platform is suitable for inexperienced traders, providing only a graph of price changes from
- Different time periods, and for experienced customers, allowing the use of technical indicators.
- Lack of integration with fiat currency. Deposits and withdrawals are only possible in cryptocurrency.
- Low liquidity on some instruments. Despite the presence of a wide range of altcoins, trading is concentrated on the main tokens, which significantly reduces
- Liquidity of most trading instruments.
- Lack of leverage. Traders can only work with their own assets.
- Orientation of the exchange to the western and Asian markets.
Despite certain shortcomings, users rated the platform high enough, to someone it seemed quite easy to learn, someone on the contrary noted certain difficulties with understanding the platform in question. Only one thing can definitely be said: CoinEgg is for those who are used to working with European exchanges.
Of the positive aspects, users unanimously identified the platform as reliable, noting the European approach to business. There is also a low trading commission.
Thus, the CoinEgg cryptocurrency exchange is a project focused primarily on European and Asian traders, which offers fairly loyal conditions for working in the virtual currency market.