To trade cryptocurrency on Coinone, users must first deposit funds (primarily KRW) through the D/W button on the homepage, with transaction limits ranging from 5,000 KRW to 1 billion KRW. The exchange applies a standard 0.2% maker-taker fee, though high-volume traders (exceeding 3 billion KRW monthly) can access VIP benefits including fee reductions. With access to 170+ tokens across 195 trading pairs, Coinone serves primarily Asian markets—particularly South Korea. The platform’s interface requires JavaScript enabled for full functionality.
The labyrinthine world of cryptocurrency exchanges has, for better or worse, produced an array of platforms that cater to various geographic and functional niches—among these, Coinone has established itself as a formidable player in the South Korean market.
Currently ranking #59 on BitDegree’s Exchange Tracker, this Asian-focused exchange offers traders access to over 170 tokens and 195 trading pairs, all within a secure trading environment that prioritizes low fees and user protection.
Navigating Coinone’s interface proves surprisingly straightforward for neophytes and veterans alike.
Users can initiate their trading journey by accessing the “D/W” button on the homepage to deposit funds—primarily Korean won (KRW), the exchange’s supported fiat currency.
With a minimum order threshold of 5,000 KRW and a ceiling of 1 billion KRW per transaction, Coinone accommodates both modest retail investors and substantial market participants (though one might question whether such parameters truly constitute “accessibility” in the fullest sense).
Unlike Korbit, which was South Korea’s first cryptocurrency exchange established in 2013, Coinone entered the market later but has still carved out a significant position for itself.
The exchange’s fee structure merits particular attention: a fixed maker-taker fee of 0.2% applies universally, though this apparent simplicity belies a more nuanced reality for high-volume traders.
Those whose monthly volumes exceed 3 billion KRW qualify for the VIP program—a status that confers considerable advantages, including maker fee exemptions and taker fees as minuscule as 0.01%.
Additional perks encompass multi-account functionality and IP whitelisting, incentives clearly designed to court institutional clientele.
The platform has maintained an impressive security record with no hacks recorded throughout its operational history, reinforcing its credibility in the cryptocurrency space.
Coinone’s $56 million 24-hour trading volume suggests a robust marketplace, particularly within its Asian stronghold.
The platform’s security protocols—featuring advanced encryption and secure fund storage—have contributed substantially to its reputational standing among traders seeking reliability in a notoriously volatile space.
For those trading primarily in KRW and seeking an exchange tailored to Asian markets, Coinone presents a compelling option in the increasingly crowded cryptocurrency exchange ecosystem—provided one can navigate the inherent regulatory complexities of cross-border trading.
Users should note that proper functionality of Coinone’s trading interface requires JavaScript enabled in your browser, similar to many modern cryptocurrency platforms.
Frequently Asked Questions
What Are Coinone’s Withdrawal Fees for Different Cryptocurrencies?
Coinone’s withdrawal fee structure features a significantly above-average 0.0015 BTC charge for Bitcoin transactions (approximately $5.28 higher than industry standards), while fiat withdrawals incur a modest 1,000 KRW fee (under $1 USD).
Though specific altcoin withdrawal fees aren’t prominently displayed, they’re reportedly competitive within South Korean exchange markets.
These fees remain fixed regardless of transaction size—a flat-fee approach that, unsurprisingly, disadvantages smaller withdrawals.
Users seeking precise fee information for particular cryptocurrencies should consult Coinone’s official schedule.
Does Coinone Offer a Mobile App for Trading?
Yes, Coinone offers a fully-featured mobile app available for both Android and iOS platforms.
The application mirrors the web platform’s functionality, providing access to TradingView charts, indicators, and trading capabilities for over 250 cryptocurrencies.
Security features include Two-Factor Authentication and benefit from the exchange’s zero-hack record.
Users can manage their entire account—from KYC verification to deposits, withdrawals, and trading—while accessing specialized features like Coinone Plus (staking) and Coinone Swap (DeFi services).
How Does Coinone Handle Security During Server Downtime?
During server downtime, Coinone deploys multisignature wallets and cold storage systems to shield user assets from potential vulnerabilities.
The exchange activates maintenance mode—preventing inconsistent transactions that might otherwise compromise platform integrity—while implementing crisis management protocols to minimize security risks.
Unlike some competitors (who’ve offered compensation after lengthy outages), Coinone’s relatively brief 40-minute downtime periods haven’t warranted such measures.
Regulatory oversight from South Korean authorities has since intensified, compelling exchanges to fortify emergency response mechanisms against future incidents.
Can Non-Korean Residents Use Coinone’s Full Trading Features?
Non-Korean residents can technically access Coinone’s trading features, but practical limitations create substantial hurdles.
While account creation remains possible for foreigners, the exchange’s infrastructure—requiring a South Korean bank account for KRW deposits/withdrawals—effectively restricts full functionality.
The stringent verification processes, typically demanding documentation associated with Korean residency, further complicates matters.
This curious arrangement (ostensibly open yet functionally restrictive) exemplifies the regulatory tightrope many regional exchanges walk in today’s crypto landscape.
What Customer Support Options Does Coinone Provide?
Coinone offers a quartet of support channels (because why settle for less when traversing crypto’s treacherous waters?): phone support via 1670-9756 during Korean business hours (10:00-19:00), email assistance at [email protected], live chat for immediate hand-holding, and an online customer center at support.coinone.co.kr.
The platform’s South Korean focus means support primarily operates in Korean time zones—potentially problematic for international users seeking assistance during their respective waking hours.
