Introducing Cobinhood - A Crypto Exchange with Zero Trading Fees! Part 1 Of My Review.

Thanks to @starkerz for drawing this exchange to my attention - on first glance it appears to be have a well designed format and tools that match existing sites such as Bittrex - plus, they run their own coin (COB) and have extra support for ICO launches, free coin drops and even zero trading fees! Let's take a look in more detail...

Cobinhood Homepage: https://cobinhood.com/home

Sharing!

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First up, I am not in communication with or being paid by the team at Cobinhood - however, if you like the sound of the exchange, then it would be great if you'd use this link to join up and use their service as it includes a referral code that will result in both of us receiving free tokens at Cobinhood!

First thoughts about Cobinhood

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I found the name for this exchange to be a bit odd, I'm still not sure exactly where it came from - it is obviously a mixture of 'Robin Hood' - the old British tale about 'wealth redistribution' and the letter 'C', which maybe refers to 'Crypto'?

If that's the case, then it's a bold and intriguing move to name an exchange in a way that suggests rebellion and deliberate wealth redistribution! Let's dig deeper.

The About Page gives us the following description:

COBINHOOD is the next-generation cryptocurrency service platform, our vision is to shape future economies by creating a crypto financial center for the blockchain era.

COBINHOOD is a place for dreamers and doers.
We are looking for top-notch talents worldwide, you’ll work on the bleeding edge of blockchain technology, including Bitcoin, Ethereum, and other cryptocurrencies; playing as a leading force in taking today’s economies into the future. Join us to work on the edge and help create more opportunity and innovation in this new era.

The team behind the exchange includes two younger tech specialists of Asian heritage (Popo Chen and Wei-Ning Huang) and an ex US Gov Federal Chief Information Officer - Tony Scott. Their backgrounds sound quite extensive, so far so good!

The company listed in the Terms and Agreements is Being Inc. and an address is given in the Cayman islands - a typical tax haven.

Zero Fees? Really?

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Well, it does indeed appear that standard trades incur no fees - pretty nice! However, the terms and conditions for the site reveal that there are still fees that may be incurred:

The Company features ZERO trading fees to maximize traders’ profit and market liquidity. However, the Company charges fees for margin trading loan interest, subscriptions to COBINHOOD PrimeTM, use of the COBINHOOD High-Frequency Trading Server, and any other Services the Company may make available from time to time. For a list of the currently available Services and their corresponding fees, please refer to the Fee Schedule published on COBINHOOD’s website; the Company may modify the Fee Schedule from time to time). Please check COBINHOOD’s website from time to time to ensure that you are aware of the latest Fee Schedule. Changes to the Fee Schedule are effective as of the effective date indicated in the revised Fee Schedule to the Services, and will apply prospectively to any activities that take place following the effective date of such revised Fee Schedule.

There may be certain regulatory or other fees charged by third parties relating to your use of the Services. You acknowledge and agree that the Company will not be liable for any such fees charged on your deposits or transactions and that you are solely responsible for such fees.

Although I have hunted around on the website, I have not yet been able to find the 'Fee Schedule' that is referenced in these terms.

Security and protection?

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From what I have seen, the exchange is fairly standard in that there does not appear to be any insurance protection on offer in the event that the exchange loses your money due to error or financial collapse. I have only seen one exchange so far that offers this but it is a big deal.. Adding this would hugely help the cause of Cobinhood in the future.

Trading Features

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As you can see, the UI is pretty nice (And dark - which I like). It has a variety of options for viewing trading data, as you will find on other trading platforms:

Market trades, limit, stop and stop limit trades are available as options on the trading pages - I would have liked to have seen 'trailing stop' too (as is available on bitfinex) as it is a powerful option.

There appears to be about 50 trading pairs available, including options for USDT, BTC, ETH and COB exchanges.

EOS is listed, as too is BAT, BCH, LTC, NEO, OMG, but no Monero or a few of the other well known coins as of yet. However, having a way to trade the common coins that I use for free is definitely a great incentive for me to use the platform.

Next in Part 2...

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Next up I'll look at making a trade in Cobinhood and start to explore the options for free coins and other unique selling points of the service.. Stay tuned!

Wishing you well,

Ura Soul

Disclaimer

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This shall not be taken as financial advice. I am not a financial advisor and none of your investing should be carried out based on any information presented here. You can lose all of your money investing in crypto currencies. The information above is for educational and entertainment purposes only.

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