Others Monitors Review (cryptowisser)
CoinLim is an exchange registered in Singapore (previously Hong Kong). It launched in April 2018 and is available in both English and simplified Chinese.
If you live in Singapore and want a cryptocurrency exchange to trade at that is based in the same country as you ? you are spoiled. All of the following exchanges are registered in Singapore: Coinbene, Coinut, COSS, Coinhako, Cointiger, Kryptono, DragonEX, Coinhub, Tokenomy, Bitrue, ABCC, CRXzone, Kyber Network and Liquid. But there are also others.
The exchange also has an OTC-function, where users can create ads and sell their shares through that medium of exchange instead.
The platform is also available as a mobile application, for the investors who prefer to do their cryptocurrency trading and monitoring while ?on the go?.
US-investors
CoinLim permits US-investors, but US-investors should still do their own independent assessment of any problems arising from their residency or citizenship anyway.
Liquidity
On the date of first writing this review, 17 April 2019, CoinLim?s 24 hour trading volume was USD 3.5 million, placing it just north of the top 100 exchanges in the world listed in Coinmarketcap?s list based on 24 hour trading volumes. On the date of last updating this review (16 March 2020, right in the middle of the crisis with COVID-19), the trading volume had improved significantly. It was then USD 65.8 million, placing Coinlim on place no. 84 on the same list.
CoinLim Trading View
Different exchanges have different trading views. And there is no ?this overview is the best?-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you. This is the trading view at CoinLim:
CoinLim Fees
CoinLim Trading fees
Trading fees are naturally very important. Every time you place an order, the exchange charges you a trading fee. The trading fee is normally a percentage of the value of the trade order. At this exchange, they don?t divide between takers and makers. Each party to a transaction pay the same fee: 0.10% of the order value.
0.10% is below the industry average.
Industry average has for a long time been 0.25%, but we are currently seeing a shift towards lower fees. Many exchanges now charge e.g. 0.10% or 0.15% instead.
CoinLim Withdrawal fees
When transferring cryptocurrency from CoinLim, you only have to pay the relevant network fee. And you always pay network fees when transferring crypto anyway. Accordingly, the exchange doesn?t charge any withdrawal fees of their own and thus makes no profit on your withdrawals. This withdrawal fee model, that the exchange doesn?t charge any withdrawal fees of their own, is very consumer friendly and substantially below the global industry average of 0.000812 BTC per BTC-withdrawal.
All in all, the fees at CoinLim are very competitive.
Deposit Methods
This exchange does not accept any other deposit method than cryptocurrencies, so new crypto investors are restricted from trading here. If you are a new crypto investor and you wish to start trading at this exchange, you will have to purchase cryptos from another exchange first and then ? as a second step ? deposit them here. Don?t worry though, you can find a so called ?entry-level exchange? simply by using our Exchange Finder tool.
CoinLim Security
We run all the exchange-websites in Mozilla?s Observatory-test (https://observatory.mozilla.org/). The score in such test is only one of many indicators of the exchange?s security. CoinLim received an F-score in this test. You should note though that F is the Mozilla Observatory-score received by most exchanges in our Exchange List.
