In our comprehensive Coinmerce review 2023, we’ll take you through the most important topics about this crypto provider to help you answer the questions of whether this provider is reliable and right for you. This review is a snapshot and we do our best to keep the facts up to date. Do you have any comments, complaints, compliments, ideas or anything else you’d like to share obout our Coinmerce review? Please don’t hesitate to contact us.
This Coinmerce review was created by comparing this provider with Bitvavo, BCM, BLOX and Knaken, among others. We also use the trading platform and have included our experience in this review in order to give our opinion and assessment of the platform. In addition to the previously mentioned questions to get you started, we also provide answers to:
Coinmerce is represent itself as a crypto exchange rather than a broker through its strategic partnership with Binance. Through the partnership, Coinmerce now offers an exchange service in addition to its standard trading platform called Lite. Their offering has also been significantly expanded from 200 to over 300 different cryptocurrencies. This means that Coinmerce now has the largest offering in Europe! Transaction fees have also become more attractive and are now the lowest in Europe for the exchange service. In fact, they start at 0.2% for the exchange service and 0.5% if you trade via Lite. Overall, the trading platform focuses on simplicity, which is well reflected in the platform’s design. Crypto itself is already cryptic enough. This is because it has a user-friendly interface and an accessible platform available via web and app. You can also count on them 7 days a week whenever you need support. If this is what you are looking for, join the Coinmerce trading platform! Not only will you get access to an extensive crypto market with the best prices, but you will also join a growing, dedicated and fun community. A community where knowledge is shared to help each other. It is good to know that you can also use the Staking and Earn services on the platform. Other services they offer are a knowledge base, Bots, sentiment indicators, stop limit orders, candle charts, etc. In short, as indicated in this Coinmerce review, a true all-in-one crypto platform where anyone can easily get involved with crypto. Their mission is “Crypto for everyone, accessible, easy, fast and reliable”.
| Broker or exchange: | Exchange |
|---|---|
| Supported EU countries: | 37 |
| Crypto offerings: | 300+ |
| Coins and tokens: | Bitcoin & altcoins |
| Trading pairs: | Euro and crypto |
| Fees exchange: | 0.2% |
| Fees Lite: | 0.5% |
| Customer service: | Email and live chat |
| Swap crypto: | Yes |
| Staking and Earn: | Yes |
| Verification required: | Yes |
| Minimum order: | 10 euro |
| Buy crypto with iDEAL: | Yes |
| Trade via web: | Yes |
| Trade via app: | Yes |
| Trade via Bots: | Yes |
Coinmerce B.V. was founded in 2017 in Amstelveen, Netherlands by two brothers and the company later moved to Schiphol-rijk. The brothers Smits van Oyen didn’t found a good way to buy Ethereum for them and their family. This created a common goal; to make buying and selling crypto as accessible as possible for everyone. Easy, fast and reliable. These are the pillars with which they want to distinguish themselves from their competitors and which we substantiate in this Coinmerce review.
“Our focus is on you, the real person using Coinmerce. We welcome all experience levels and focus on safety and turning beginners into professionals.“
In 2018, they launched their multi-based trading platform, and in between, they updated the design and functionalities, making it more accessible and user-friendly today. In 2023, Coinmerce and Binance partnered up to make the platform even better. More on this in a moment. The platform can be accessed via a web browser and by downloading the iOS or Android app. It allows users to easily buy crypto from as little as € 10 using the most convenient payment methods, including iDEAL. It is also possible to exchange crypto for crypto, stake, earn crypto by lending out and trade via bots. In addition to the well-known coins and tokens like Bitcoin (BTC) and Ethereum (ETH), they also offer Shiba Inu (SHIBA) and Cardano (ADA), among others. With a total offering of over 300 different crypto coins, Coinmerce is the largest provider in Europe in terms of numbers.
The languages supported by the trading platform, both web and app, are Dutch, English, German and Spanish. Their news and blog page changes in these languages. Some articles are available in all languages, others only in Dutch and English.
Not Coinmerce review related, but important to know! There is a big difference between a broker and an exchange. A broker acts as an intermediary and uses the order books of large exchanges like KuCoin and Binance, where an exchange manages its own order books. A broker pays a fee to the exchange for making their order books available. This is the main reason why brokers are often slightly more expensive than exchanges. You end up paying for this. The advantage of a broker is that you are not overwhelmed by the large exchanges, get customer service in your language and can easily buy crypto using iDEAL. More about this on our dedicated crypto exchange page. Coinmerce as a provider presents itself as an exchange due to its partnership with Binance, as we do in this Coinmerce review, but technically they are still a broker. This means that it does not manage its own order books, but uses the order books of exchanges. Binance’s in particular. As a result, your transactions are processed elsewhere and not on Coinmerce. You won’t even notice this when you trade. The advantage of this is in the ‘smart order system’ where the order books are used and where the best prices are automatically retrieved. As a result, Coinmerce is able to offer more than 300 crypto exchanges.
Coinmerce was a Dutch crypto broker from 2018 until mid-2023. Technically, it still is, but due to a strategic move, the crypto provider now presents itself more as an exchange. In fact, in mid-2023, Binance announced that its trading platform would no longer be accessible to residents of the Netherlands, among others. All Dutch crypto traders were no longer able to trade with the crypto giant and had to move their holdings. Simply because Binance had failed to secure a DNB registration to continue its operations in the Netherlands. The Dutch provider saw a golden opportunity and was smart enough to enter into a partnership with Binance to redirect all of Binance’s Dutch customers to its own platform.
Coinmerce obviously had to pay for this and had to get its trading platform up and running quickly to welcome customers. This worked well with the arrival of Coinmerce Exchange! A key part of the partnership was to offer all the crypto that were tradable on Binance. If a Dutch customer on Binance had crypto ‘x’ in their wallet, the Coinmerce exchange needed to support it so that this crypto could be sent from Binance to a Coinmerce-affiliated vested wallet. To this end, they introduced a ‘one-click’ agreement option, whereby traders on Binance could agree to send the crypto from Binance to Coinmerce with the click of a button. This action also automatically created a Coinmerce account to access the crypto. This was well received by the crypto community. Unfortunately, due to the large influx of customers, the Coinmerce exchange was forced to temporarily reduce its staking rewards.
When we published this Coinmerce review, there was still no regulation for crypto in the Netherlands. That came to an end in 2020 and all providers operating in the Netherlands had to register with De Nederlandsche Bank (DNB). The registration had to do with a new law in the Netherlands instructing crypto providers to comply with the terms of the Money Laundering and Terrorist Financing (Prevention) Act (Wwft) and the European Anti-Money Laundering Directive (AMLD5). In November 2020, Coinmerce was successfully registered with De Nederlandsche Bank (DNB) and thus complies with the imposed conditions. It is important to note that registered companies are not subject to prudential supervision by DNB or conduct supervision by the Netherlands Authority for the Financial Markets (AFM). This means that there is no supervision of financial business risks and no specific financial consumer protection. Something that needs to be clear in this Coinmerce review.
In addition to trading via desktop or laptop, Coinmerce’s trading platform is also accessible via app. The exchange has developed a user-friendly iOS and Android app for all new and existing investors. The app is free to download for both operating systems and gives you access to almost the entire range of functions. Only Bots and the Exchange option are not yet available through the app. Are you waiting for the bus or on a break at work, through the Coinmerce app you can access the market to buy crypto anytime, anywhere. The Coinmerce app distinguishes itself partly because it is possible to deposit and withdraw crypto from this crypto app. This is not possible with all crypto at providers such as Bitvavo and BLOX.
In order to qualify for a Coinmerce account and use the trading platform, you must be at least 18 years old and live in the European Economic Area (EEA). Given the existing laws and regulations, in this Coinmerce review we describe the three levels of registration, namely “Registered”, “Verified” and “Pro” with each having its own restrictions and capabilities.
To access the trading platform of the exchange you must be at least ‘Registered’. It is not possible to trade at this level. Press the link above and fill out the registration form with your first name, last name and email address. Make sure the details are correct and match the details on your bank account and identification document for a smooth verification. Finally, make sure you create a difficult password and accept their Terms and Conditions and Privacy Policy. Complete the registration by clicking on the link in the email sent to your email address.
With a ‘Verified’ account you can start trading crypto and have a deposit and withdrawal limit of 20,000 euros per day and 60,000 euros per week with an order-limit of 10,000 euro. Verification is performed by providing a valid government-issued ID such as passport, driver’s license or identity card. Coinmerce is required to verify your identity to prevent fraud, terrorist financing and money laundering. The process takes about 2 minutes if you use good photos. Registration approval is normally done on the same day.
The next step is to verify your bank account by transferring 1 cent. Your bank account will then be linked to your Coinmerce account. You may not use a bank account that belongs to someone else. Make the verification payment via iDEAL or SEPA. If you choose iDEAL, the verification will be completed within a few minutes. SEPA transfers take one business day to be received and processed. The reason for linking is done to ensure that your name matches the registered name on your bank account. The bank verification is the final step before you can deposit and withdraw funds and start buying, depositing, withdrawing and selling crypto.
The final level of verification we’re discussing in this Coinmerce review is called ‘Pro’. With a Pro account, you get customized limits; you then have the ability to deposit, trade and withdraw unlimited money and crypto. Verification is done by providing proof of residence or domicile and a source of money in the form of a receipt, annual statement, tax return or other requested documents. Finally, a video interview is scheduled to discuss your needs and determine specific limits. Planning to trade as a whale? Then contact customer service to request a Pro account.
When you have purchased crypto coins or tokens they will be stored in your Coinmerce wallet. This wallet is online and is linked to your account. So only you have access to it when you log into your account. The wallet of Coinmerce ensures that you always have access to your crypto with the app, so you can quickly switch when you want to buy and sell. Using it is not required. It is possible to send your purchases to an external wallet.
So you are not dependent on the wallet on the exchange. Note that it requires a bit more experience and takes away from the ease of use. Coinmerce applies a cool-down of 24 hours before you can withdraw crypto to an external address. This cool-down starts when you have created an account. In addition to depositing, storing and withdrawing, the Coinmerce wallet also allows you to start Staking, Earn and Bots with the crypto you own.
The money you deposit is displayed as Coinmerce coins and represent the same value as your money. The ratio is 1-to-1. These coins serve as credit to buy and sell crypto easily and user-friendly. So you buy crypto not with iDEAL or any other payment method, but with Coinmerce coins you deposited via iDEAL or other payment methods. When you sell crypto you will receive the credit back in Coinmerce coins. This only applies to the Lite option. Through Coinmerce Exchange you trade with Tether (USDT). For the exchange, you must first buy Tether (USDT) with your Coinmerce coins and use them for the Exchange to trade there. If you want to cash out and withdraw money to your bank account then you have to sell the Coinmerce coins. Read how further in this Coinmerce review.
We want to make sure you learn as much as possible through our Coinmerce review. Also the Coinmerce costs either trading costs, transaction costs or fees, among the many names. These fees are calculated during the process of buying crypto by an algorithm and depends on a number of factors:
These factors make it difficult to calculate the cost and final price of your order in advance. The exchange charges transaction fees starting at 0.2% and 0.5% with the Lite feature. However, the cost can be higher for crypto with very low trading volume. For direct market orders with low trading volume, you are always informed in advance when this is the case. For stop limit orders, it is impossible to indicate in advance whether a higher fee will be applied. It is therefore possible that you will not be informed in advance. Some providers, including Bitvavo and BCM, offer discounts or VIP levels on transaction fees the more you trade. Coinmerce has no form of discounted fees. The prices of this exchange are shown on CoinCompare including the transaction fee of 0.2%.
Did you know that Coinmerce was the Best Deal Provider of the Year in 2019 and 2020 on CoinCompare?
If you want to buy crypto at Coinmerce you need to deposit at least 10 euros. You can do this with iDEAL, Bank transfer (SEPA), SOFORT, MyBank, MasterCard and Visa. All payment methods have their own service fees. The use of SEPA is free, but when using iDEAL 30 cents is charged. See below the complete overview of all costs and limits of the supported payment methods. For most payment methods the money will be in your account within 24 hours. As mentioned before the deposited money is displayed as Coinmerce coins, which you can use to buy crypto:
When you have sold your crypto you will also receive the amount in Coinmerce coins in your wallet. To pay out money, you need to sell these coins. The money will then be sent to your verified bank account. When paying out, Coinmerce does not charge any fees as it is processed as a SEPA transaction and usually takes place on the same day.
Want to deposit and withdraw crypto? From the 300+ crypto offered, that’s possible for the most! If you have crypto elsewhere, go through the following steps in this Coinmerce review to send the crypto from your external wallet or from another provider to your Coinmerce wallet:
There is no fee for depositing crypto to your Coinmerce wallet. However, you must charge a sufficient transaction fee for the transaction to succeed on the blockchain.
If you have crypto in your Coinmerce wallet and want to withdraw it, there are fees and wallet verification involved. These are not Coinmerce fees, but fees to support the miners who verify the transaction on the network. The amount of these fees depend per crypto and how busy it is on the network.
The withdrawal fee is mentioned when initiating a withdrawal, so you always know what the fee is. Unfortunately, they do not have a clear overview of all withdrawal fees per crypto. It may happen that you have enough crypto to pay the fee and meet the minimum amount required and yet the transaction is not initiated. If so, contact customer service or make an appointment through this Coinmerce review.
Trading crypto comes with a lot of risks. That it may be clear through this Coinmerce review. Not only financially, but also think about hackers or traders with too little experience. These risks lie not only with the trader, but also with the provider. Therefore, they do everything possible to protect and secure its customers, data and assets.
“Providing our users with a high level of security is one of our top priorities.“
They use and offer the following measures to secure your account, personal data and crypto storage and keep you sharp not to share personal data:
Is Coinmerce safe? An important question to ask in our Coinmerce review. The answer is yes! With the above measures, security is well taken care of and guaranteed.
It may happen that you need support with a transaction or want to know how the exchange handles your data. Don’t worry, the trading platform is easy to reach in all support languages when needed. Did you know that they offer the most contact options for reaching customer service? In fact, there are six different channels you can go to with your question or problem. In this Coinmerce review, we’ll outline where you can contact Coinmerce:
When contacting Coinmerce, it is important that you provide as many details as possible. Are you using email for customer service? Then use the same email address you used to create your account. Include any screenshots, so they can quickly provide you with a solution to your question or problem.
Do you have a short question? Then the Coinmerce live chat or their Telegram is a good option. You can start the live chat by clicking on the chat icon on the bottom right of their website. This live chat icon can be found on almost every page.
If urgency is required, it is better to call customer service or drop by their unique physical Crypto Information Center. At Info and Social media in this Coinmerce review you will find all the info and links to the contact options.
We have not had one bad experience with their customer service. The response time is usually within one day and it is rare that it is within two days. Also, 9 times out of 10, the initial response is resolving.
There should be no doubt after reading this Coinmerce review that the exchange operates transparently and with the best of intentions. No matter if you are an entry-level starter or a switching expert in crypto trading, the trading platform is a perfect fit for everyone. It is a simple, user-friendly and responsive trading platform where depositing and withdrawing is fast. At the time of writing, they have the largest selection of crypto coins and tokens in the Netherlands. Where the competition also under-performs is that Coinmerce offers many options like Staking, Earn, Bots, swap crypto, sentiment indicators and stop limit orders. It is a true “all-in-one” crypto platform.
In addition to offering trading opportunities, they also offer a “Knowledge Base” on the website to inform and educate their users. These learning articles will help you understand the ins and outs of blockchain and cryptocurrencies.
The platform is simple, responsive, user-friendly and processes deposits and withdraws fast
It is clear in the Coinmerce review that we appreciate the operations of the exchange from Schiphol-rijk. Nevertheless, we believe that the following points will take the platform to the next level:
So what are the pros and cons of this exchange? We would like to summarize this in a simple way in this Coinmerce review:
Still not convinced to get in or switch after reading this Coinmerce review? Did you already know that you can be verified in less than five minutes?
Coinmerce is technically a broker, that represents itself as an exchange, with a crypto trading platform connected to several crypto exchanges. As a result, they offer more than 300 crypto that you can buy and sell. They also offer an exchange service, staking and earn services, a knowledge base, bots, sentiment indicators and stop limit orders. In short, a true ‘all-in-one’ crypto platform.
Coinmerce was successfully registered with De Nederlandse Bank (DNB) in November 2020. With this, they comply with the requirements and the Prevention of Money Laundering and Terrorist Financing Act (Wwft) and the Anti Money Laundering (AML) for Europe.
Coinmerce operates with the right intentions and has sufficient security measures in place to ensure reliability and safety.
The exchange of Schiphol-rijk has variable costs that are determined based on the type of trading option, trading volume, order size and crypto transaction costs. If you trade via the exchange you will have a transaction fee of 0.2%. If you trade via your Lite, the transaction fee is 0.5%. Via Exchange, the provider is the cheapest in Europe.
With as many as 300+ different crypto, the exchange has the largest crypto offering in Europe.
Coinmerce can be contacted through six different channels. That’s the most of any crypto provider in the Netherlands. You can reach them for all your questions in the following ways; email, live chat, Telegram, phone, callback request and by making an appointment with the Coinmerce store.
Every purchase you make on the platform is automatically stored in your account’s online wallet. It is possible to send the purchased crypto to an external wallet later. Please note that a cool-down of 24 hours applies if you have just signed up.
Coinmerce offers an iOS and Android app for every new and current user. With this app, you are connected to the market anytime, anywhere and can trade at your convenience.
There are no promotions running at the moment. Also, no discounts are given when you trade more volume. Keep an eye on our site for future promotions.
