CoinCola is a HongKong based company that provides Crypto-to-Crypto exchange trading, Crypto currency Trading and all Gift cards exchange services.
It’s actually among the top most exchanges in Africa.
It’s main mission as said in it’s official site was to provide a trust base trading services for traders.
CoinCola was established in 2016 and currently has over one million users in 150 countries..
To get a full and more detailed review and information, here are exactly what I’d cover in this article
1. CoinCola Overview
2. CoinCola services
3. Supported Currencies and methods of payment
4. Transaction Charges
5. Transaction Limits
6. Supported Countries
7. Customer support
8. Future plans
1. CoinCola Overview
CoinCola is a HongKong based crypto currency company. It’s an exchange offering both peer to peer trading and also coin to coin pair trading in an integrated platform. They serve fast, secured and easy-to-use trading at a very competitive price. It’s OTC market place allows people around the world to use their “local fiat” currency to trade(buy and sell) bitcoin and exactly six other crypto currencies.
Trading is done on a person-to-person basis and transactions are made/completed through secured online escrows.
The CoinCola Exchange allows traders to expand their portfolio by trading one digital currency for another. CoinCola provides bitcoin (BTC) and tether (USDT) as base currencies and supports an accumulating list of crypto-to-crypto trading pairs. Its also have new gift cards trading features which allows users to easily sell their unwanted gift cards for bitcoin or any other digital currency
Allan Zhao is currently the CEO of CoinCola.
2. CoinCola Services
The services offered in this platform are much enough to meet the basic needs of a Traders or investors, in detailed words,
This is a Person-to-person market place, where you can buy and sell any of the 8 supported digital (crypto) currencies with your local fiat currency i.e Naira, USD, ZAR, etc depending on your country. The supported cryptocurrencies are:
- Bitcoin (BTC)
- Ethereum Ether (ETH)
- Ripple (XRP)
- Bitcoin Cash (BCH)
- Litecoin (LTC)
- Dash (DASH)
- Tether (USDT)
- Gemni (GUSD)
Note that CoinCola does not directly buy or sell cryptocurrencies to traders in the market place rather they bring connections between the buyers and sellers to trade and modulate the process using an escrow system to ensure no one is cheated. This is the same system used on Remitano and local bitcoin.
To further understand this better, let’s use an example.
Supposing Daniel wants to buy Bitcoin from the CoinCola Market place, he will have to follow the following steps
He goes to the market place and clicks on ‘Buy BTC’ from anybody available e.g
He enters the amount of BTC he wants to buy and then proceed.
(This BTC will then be held in the CoinCola Escrow and no longer in full control of Roland..Roland can release the bitcoin to Daniel but cannot release it to himself).
Daniel Transfers the Bitcoin equivalent in her local Currency (e.g Naira) to Roland’s bank account.
Once Roland receives the money, He will release the bitcoin to Daniel. He will see this in his Coincola BTC wallet
(in case of dispute when Roland claims not to receive the money sent, they will both have to present evidence of payment or bank statement as the case may be. CoinCola will release the bitcoin to the person that is correct.
The Cryptocurrency pairs traded in the exchange are
The CoinCola exchange is where you can profitably buy and sell cryptocurrency pairs to make a profit. It has various indicators and powerful charting tool to help you carry out analysis before trading.
Gift Card Exchange
Due to the high demand for gift cards Cryptocurrency exchange, CoinCola now allows the peer-to-peer(p2p) exchanges of these assets.
You can exchange bitcoin for any of the following gift cards below;
- Amazon gift card
- iTunes gift card
- Steam Wallet Gift Card
- Google Pay Gift Card
- eBay Gift Card
- Walmart Gift Card
- Sephora Gift Card
3. CoinCola Currencies and Payment method
This platform supports traders from over 140 countries in its market place. Therefore, the supported currencies and payment methods are;
- The 8 supported cryptocurrencies
- The supported gift cards
- The local currency of the “over” 140 supported countries either by wire transfer or cash.
4. CoinCola Transaction Fees
The complete report of the transactions that can be done on CoinCola can be found on its official page. Highlighted below is the summary of these fees.
OTC Market place Fees:
At the peer-to-peer market Place, the buyers are charged nothing to buy cryptocurrency while the Sellers are charged 0.7% on a completed transaction.
CoinCola Exchanges fees
CoinCola charges 0.2%. This fee is applied to both the Makers and Takers
The MAKERS are those that set the price while the TAKERS are those that buy and sell at the set price.
The following standard fees are paid when you send Cryptocurrencies from a CoinCola wallet to an external wallet.
- BCH………………. …..0.0005BCH
5. Buying Limits/Verification Methods
Traders can send and receive any amount of cryptocurrencies into their CoinCola wallet. However, following limited applies when trading on the exchange on the OTC market place.
Not verified 1,000 USD
Face Verification 1,500 USD
Document verification No limits
Any of the following documents is used for the verification
- Your Identity Card
- Driver License
6. Supported Countries
Over 140 countries
7. Customer Support
There is a support desk dedicated for any inquiries on any exchange.
Way to contact CoinCola Customer support include;
• Live Chat (on the website): Click on the ‘help’ icon and the ‘contact us’ to activate the live chat
• Telegram group:
8. Future Plans
CoinCola has over 1 million traders; with most of its traders coming from Hong Kong and China. Its currently planning to help Africans adopt cryptocurrencies more smoothly.
“Our future plan is to provide a fast and secured platform for Africans to adopt cryptocurrency in their daily life. We truly believe in this crypto journey and we are committed to helping push this procedure smoothly”
9. Conclusion – Is Coincola safe to use?
CoinCola has proved that it’s here to stay Serving over a million Users since 2016. It’s a trading platform and it has a good trading Volume.
The website is Solid and user-friendly providing users with all thebasic tools they need in trading Cryptocurrencies and Gift cards as well as trading cryptocurrency pairs. It also has a mobile App for easy trading.
Clik Here to Join Coincola