CoinCola is a cryptocurrency exchange based in Hong Kong. Coincola also functions as an over-the-counter (OTC) marketplace where you can buy and sell cryptocurrencies from people close to you.
CoinCola was founded in 2016 and is based in Hong Kong with Allan Zhao as its present CEO. The company is currently active in over 150 countries with millions of users.
Coincola supports eight cryptocurrencies: Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, Dash, Tether, and Gemini.
Features And Services Of Coincola
- Buying and selling cryptocurrency (over the counter)
This service allows you to be able to buy and sell cryptocurrencies with your local fiat currency from people close to you.
CoinCola does not sell or buy cryptocurrencies directly from its users; it only connects buyers and traders together and serves as a middleman between them using the Escrow system to avoid any form of cheating or fraud.
- Exchange and Margin Trading
With this service, you can exchange one cryptocurrency for another and trade different cryptocurrency pairs to make profits. The pairs you can trade on CoinCola include the following
CoinCola provides safe and secure wallets for all the eight supported cryptocurrencies in its system where you can store your coins safely but does not give you access to your private key.
- Payment using Gift cards
You can use gift cards to exchange cryptocurrencies on CoinCola as long as you can find a seller who is willing to accept it as a payment method. The gift cards you can use on CoinCola are:
- The iTunes gift card.
- Amazon gift card.
- Google play gift card.
- Steam wallet gift card.
- eBay gift card.
- Sephora gift card.
- The Walmart gift card.
How Does Coincola Work
You can register an account with CoinCola through their website or download their mobile application on your devices app store and register.
- Mobile app
Coincola has a mobile app that makes navigating through the platform easier and quicker.
- Payment method
The methods of payment accepted by CoinCola are the use of the supported gift cards, the use of the eight supported cryptocurrencies, and the use of the local currencies of the over 150 supported countries either by bank transfer or cash payment.
Verification of your account is not compulsory on CoinCola but you will be limited in the amount of purchase or transactions you can make if your account is not verified. Verification of account includes the Face ID verification and the Government issued ID verification.
- Transaction limit and fee
The transaction limit of your CoinCola account depends on your level of account verification. If the account is not verified, there is a buying limit of $1000.
An account that has only done the face ID verification has a buying limit of $1500, while the account that has been verified with a government-issued ID, passport, or driver’s license has no buying limit attached. The CoinCola transaction fee depends on the service you are using.
When you are using the P2P marketplace, there is no fee attached to buy cryptocurrency, but a fee of 0.7% is charged to the seller.
CoinCola charges an exchange fee of 0.2% in its exchange market. A withdrawal fee is charged when sending your coins to an external wallet.
A withdrawal fee of 0.0005BTC is charged for Bitcoins, 0.009ETH for Ethereum, 10USDT for USDT, 0.0005BCH for Bitcoin Cash, 0.009LTC for Litecoin and 0.002DASH for Dash.
- Customer support
The customer support of CoinCola can be contacted through their live chat, email address, and their social media accounts (Telegram, Twitter, Facebook, and Instagram).
CoinCola- A P2P platform with good features beyond cryptocurrency trading
CoinCola has many users around the world with a good reputation for being safe and secure using the KYC and AML security measures. It is available to users worldwide and accepts all fiat currency as a mode of payment.
The platform has more plans of boosting the adoption of cryptocurrency in Africa and other parts of the world in the nearest future
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