Coinome Review : Cryptocurrency exchange website in India

Cryptocurrency is a computerized cash, which is planned in a way that it is secure. It is nearly connected with web that makes utilization of cryptography, which is essentially a procedure where readable data is changed over into a code that can’t be read by third parties so that the transaction remains secure.

Bitcoins:

The demands of Bitcoin which one form of cryptocurrency is increasing from past few months. There are several reason for this demand:

The limitation of generating bitcoins from a particular website is 21 million when something is limited its price increase. Bitcoins are decentralized. Mainstream institutions finding merit in it, especially the technology backing it.

It is also believed that the banning of bitcoins in China in September has also led the rising demand of bitcoins.

As the demand of Bitcoins are increasing day by day the number of exchange  and apps have increased. You can invest in this website to buy some bitcoins which will have value more in future than today which will ultimately give you profit when you will sell the bitcoin in future. As because the price of bitcoins is rising every passing day we can assume that in future when the bitcoin will be sold it will earn you profit.

Some of this cryptocurrency exchanges are authentic and can be easily trusted. The exchanges are:

  1. Coinome
  2.  Coinsecure
  3. Koinex
  4. Unocoin
  5.  Zebpay

Zebpay is available in android also. Customer has a major complaint about Coinsecure that it takes time to deposit money. Complaint about Koinex that comes always is its customer care department which is not good .Our review is about Coinome how much authentic it is and how fast and reliable it is. We will show how Coinome works and will guide you with best possible ways how to use Coinome.

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Coinome Crypto Currency Exchange – Buy/Sell Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC) in India

coinome-review

This is the homepage of coinome.com, for exchange we have to create an account. The user can create account using their Google id, Facebook id or twitter id. User can open only one account on coinome. Coinome may ask the user to undertake any KYC process in order to access the Website or User Account. The User undertakes to provide all information and disclosures as required by Coinome. Coinome may ask the user to update the document from time to time and the Users may be directed to furnish additional documents to Coinome.

The user has to link his/her bank account in order to facilitate deposit of money. The User may link his/her Indian Bank Account with Coinome in the following manner: Click on the “Bank” link on the web page after logging into your Account. Fill in the bank details requested on the web page including bank account number, IFSC Code, etc. and submit the same. Your Coinome Account will, after verification, automatically get linked to your Bank Account.

The user have several ways to deposit money in coinome:

  1. Bank Transfer – The user need to login to his/her Internet Banking account, add this account number as his/her beneficiary, and then transfer funds via NEFT/RTGS/IMPS. Cash and cheque deposits are not allow in coinome. The user Coinome account will be automatically credited within 15 minutes of the amount hitting our account.
  2. Net banking – The user will be redirected to his/her bank page, where you need he/she needs to enter credentials, and authorize the transaction. Coinome currently support all banks except SBI and HDFC.
  3. Coinome dosen’t support any third party app for transaction like paytm, freecharge or other.

Coinome is very fast in depositing/withdrawal money to/from User Coinome account:

If the user deposit money using the Netbanking option, then the user coinome account will be credited instantly.

If the user chooses Bank Transfer option, then coinome automatically credit the user coinome account within 15 mins of the money hitting coinome’s account. Coinome recommend IMPS transfers because they are near instant. NEFT/RTGS is processed as a batch transaction, and is limited to bank working days.

Withdrawing INR from coinome is done instantly and bank account gets credited instantly.

Once the User creates an Account by registering with Coinome, the User will be allowed to enter the exchange area. Each Account will be linked with the User’s bank account as per the details provided by the User who can use the money in such linked bank account and start trading with other users.

HOW TO SELL/BUY IN COINOME:

The User can input the specific amount at which the User intends to buy Cryptocurrencies. This value can be entered when placing the Buy Order by manually changing the amount at which the User intends to buy the Cryptocurrencies in the field provided and clicking the “Buy” button to place the trade request. Each Cryptocurrency that the User intends to buy should be specified separately.

Similarly the user can enter the amount at which he/she want to sell the cryptocurrencies by entering manually in field provided and clicking the “Sell” button to place the trade request.

The User also has the option to buy Cryptocurrencies from the orders pending on the exchange platform.

The “Sell Orders” tab of each Cryptocurrency tab displays the list of a specific quantity of the said type of Cryptocurrency that is available for sale and if a Buyer buys a specific type of Cryptocurrency from the “Sell Orders” tab of that Cryptocurrency, the exchange will automatically execute the sale for the said Cryptocurrency available first, followed by the next highest price and so forth.

The User also has the option to sell Cryptocurrencies from the orders pending on the exchange platform.

The “Buy Orders” tab of a specific Cryptocurrency that displays the list of a specific quantity of the said Cryptocurrency available for sale and if a Seller sells the said Cryptocurrency from the “ Buy Orders” tab for the same, the exchange will automatically execute the sale for the said Cryptocurrency available for sale, followed by the next lower price and so forth.

The user can also see all the last trade that took place between users listed under TRADE HISTORY tab.

So as we can see that it is very convenient and easy to use the website as we can see how the exchanges is taking place among the users and at what rate it is taking place. Having an idea of trade we can place our amount for buying or selling wisely. We can choose any option from the list stating the amount of cryptocurrency to buy at a given price and if that option gets unfulfilled the website will automatically select the next preferable option which will be better for the user.

TRADE COMMISSION CHARGED BY COINOME:

coinome-exchange-fee

The fees charged by the coinome.com to maintain their website and their company is very minimum. Compare to other website like Koinex where trade fees is higher than coinome.com.

Coinome follows a maker-taker fee structure.  The user become the “Maker” when he/she place a limit order that sits on the open exchange book. If the user place a market order that matches or crosses an order already on the book, then he/she becomes a “taker”. Additionally you have to pay GST of 18% on the fees you pay.

HOW SECURE COINOME IS?

Now comes to how secure coinome.com is. Coinome is absolutely secure and the information which you provide to the company during registration or during linking your bank account is absolutely secure with them and their will be no leaking of the information. Being a company of BillDesk which is India’s one of the payment gateway its transaction is totally secure and authentic. There is no chance of fraud case. If any unexpected thing happens contact coinome support desk.

Performing any illegal act on coinome may result in permanent ban of the account or the user.

Rules and Regulation of this website:

The user can withdraw an amount of 2 lakh per transaction and can withdraw overall an amount of 5 lakh, however there is no limit for deposit.

No same user can open multiple account in this website.

If any of the documents provided by the user is false the account of the user may gets permanently banned.

If any of the user tries to perform any illegal activities in coinome may gets permanently banned or performing any act of transferring money to third party account may also result in banning of account.

CONCLUSION:

Coinome is still new in market, and the platform is developing day by day. The website is very easy to use, and should not encountered any problem for the user who is new to cryptocurrency exchange. However, the website is missing feature of not having wide variety of mode for depositing money in coinome user account. Apart from this, I think Coinome is a best Bitcoin and cryptocurrency exchanges in India than other exchange websites available. Another thing expected from the Coinome team is a dedicated mobile app. It is something that most of the young users need to make the most out of fastest growing cryptocurrency industry.

From my side, I think other exchanges websites like CoinSecure, Zebpay for Bitcoin trading are quite ahead in the league than coinome as because their wide range of option available for depositing money, multiple cryptocurrencies to trade.

Coinome is very easy to onboard, it deposit money quickly and withdrawal of money from bank account is very secure. So you can blindly trust on this website.

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Sureshkumar N

I did a INR withdrawal but they didn’t credit yet. It’s been 5 days. No proper customer care in place.