CoinMetro Review: What Can You Do with CoinMetro in 2024?

This CoinMetro review shows that to increase the confidence of non-crypto investors to join the crypto space, cryptocurrency platforms are reworking their approaches. For instance, some offer trading options to mimic those in the conventional finance world, while others are focusing on crypto-backed loans. Still others are simplifying the process of buying Bitcoin and other cryptocurrencies with fiat.

Apart from products and features, the teams behind cryptocurrency platforms have extensive experience in traditional finance. CoinMetro is a good example of a cryptocurrency-focused platform that’s making investing easier for both pro and novice virtual currency traders.

What is CoinMetro, and Who’s Behind It?

CoinMetro is an Estonian-headquartered virtual currency exchange that was founded in 2018. The app-based exchange has a simple but professional layout, allowing users to easily find their way around the platform. Mainly, the exchange aims at easing investors’ transition from the legacy finance industry to the crypto ecosystem.

Additionally, CoinMetro operates a native token that powers different aspects of the platform. The company adheres to guidelines set by financial watchdogs in the European Union, United States, and Australia.

Kevin Murcko is the founder and CEO of CoinMetro. Prior to founding the platform, he was the CEO of FXPIG (Premier Interchange Gateway LP) and the co-founder, CEO, and chairman of the European Crypto Association. Also, he’s the co-founder of Ignium, an international crypto custody platform.

Salvatore Cunsolo is CoinMetro’s chief technology officer (CTO). Cunsolo has a Ph.D. in Mechanical Engineering. Before joining the cryptocurrency project, he held various roles including positions as the head of system development and a researcher at different organizations.

What Can You Do with CoinMetro?

Standard Cryptocurrency Trading

The CoinMetro exchange allows you to trade virtual currencies with ease. It’s not hard to see why it appeals to professional traders and newcomers excited to own their first BTC. The platform supports cryptocurrency purchases using credit cards and offers advanced tools to help traders make informed and timely choices.

For instance, traders can set automatic buy and sell orders using self-defined prices. Additionally, they can conduct market trades or initiate standard stop and limit orders.

Margin Crypto Trading

CoinMetro allows traders to boost their profits using its margin offering. The exchange offers up to 5 times leverage. It’s important to note that leverage amplifies profits as well as losses. While CoinMetro works with lenders to provide the leverage amount, the mechanics are hidden from margin traders, offering a streamlined experience.

Margin trading on CoinMetro lets participants access all the leading virtual currencies and pay some of the lowest fees in the industry. It also allows traders to settle their profit and loss using Euros and doesn’t charge market makers.

The margin trading platform has basic and advanced tools that cater to a wide range of user levels.

Copy Trading

This feature enables novices to trade like seasoned traders by following in the footsteps of market experts. Tapping into the offering is simple since CoinMetro users only need to pick a trade, add BTC/EUR to mirror their crypto trades, and let the experts take over. Proven experts manage copy traders’ funds. However, the service isn’t free – trade managers take a management fee. These funds aren’t subjected to a lockup period, giving copy traders the option to add more or withdraw whenever they like.

CoinMetro Markets

CoinMetro Markets shows listed assets, exchange pairs, margin pairs, and CoinMetro token (XCM). You can sort assets based on when they were listed or which assets you have in your wallet. This feature also shows each asset’s market capitalization, 24-hour change, and 24-hour chart. The exchange pairs section shows details such as the pair, primary asset, last price, 24-hour low/high, 24-hour change, volume, and 24-hour chart.

Investing in Digital Securities

CoinMetro takes its product range up a notch by allowing its users to invest in digital securities. These securities include equities and bonds issued by reputable startups. Interest rates vary between projects.

For example, the Encrypgen Bond offered 7 percent fixed interest per year while the CoinMetro Bond offered investors 12 percent per year.

CoinMetro Fees and Commissions

CoinMetro Trading Fees

The exchange charges varying fees depending on which platform you access. Market takers using the standard cryptocurrency trading platform have to part with 0.1 percent of their trading value and 0.0 percent for makers.

Fortunately, CoinMetro offers makers up to 50 percent of takers’ fees as rebates. Takers also receive 20 percent of their fees returned to them as incentives.

Margin traders part with 0.1 percent in fees and get 20 percent in rebates. The interest paid is 0.082 percent, calculated after every four hours based on the amount borrowed as leverage.

Copy trading is another aspect of CoinMetro that attracts charges. When copy trading, the exchange takes 0.1 percent in fees and gives 20 percent back in rebates. Additionally, the trading manager charges anywhere between 5 and 25 percent in manager performance fees. Copy trading also results in a CoinMetro performance fee of between one and five percent.

CoinMetro Deposit and Withdrawal Fees

Apart from trading, CoinMetro also charges deposit and withdrawal fees. EUR-based deposits through SEPA incur a fee of 1 EUR while using Swift incurs 5 EUR. USD deposits attract a fee of 5 USD, 20 USD, and 50 USD for ACH, domestic wire, and international wire methods, respectively.

Australian dollar deposits through Swift incur a charge of 5 AUD, while deposits using the British pound have a 1 GBP fee. Depositing funds using a credit card issued within the EU, you’ll part with 2.99 percent of the transaction, while non-EU issued cards incur a fee of 4.99 percent per transaction.

Also, CoinMetro users incur fees when moving funds off the platform. For instance, withdrawing EUR through SEPA and Swift attracts a fee of 1 and 50 EUR, respectively. USD withdrawals attract a fee of 5, 20, or 50 USD depending on whether you interact with ACH, domestic wire, or international wire.

Cryptocurrency deposits are free, while withdrawals require traders a 0.15 percent fee plus network fees for Ethereum (ETH) and other cryptocurrencies built on top of the Ethereum blockchain. Virtual currencies without links to Ethereum have a withdrawal fee of 0.15 percent.

Referral and Sign-up Promotions

The CoinMetro referral program provides referrers with 40 percent of their referrals’ net trading fees for a lifetime.

That’s not all; inviters earn 10 percent of their referrals’ referral’s net trading fees. These referral rewards are paid instantly. For detailed information about CoinMetro’s referral program, read this CoinMetro referral article.

Currencies and Available Countries

On fiat currencies, the exchange supports major currencies such as the US dollar, the Australian dollar, the British pound, and the Euro. It also supports leading virtual currencies. These include Bitcoin (BTC, Ethereum (ETH), Chainlink (LINK), OmiseGo (OMG), Ripple (XRP), USD Coin (USDC), and Bitcoin Cash (BCH). Available trading pairs vary depending on fiat currency.

For example, GBP is only paired with BTC, ETH, and XRP, while USD pairs with13 virtual currencies. EUR-based trading supports more than 15 cryptocurrencies. CoinMetro is available in more than 100 countries.

How Does CoinMetro Compare with Binance?

CoinMetro and Binance are similar in some ways and different in others. Binance takes the win for having more features and a greater number of listed cryptocurrencies. While CoinMetro boasts of less than 20 listed cryptocurrencies, Binance users have more than 200 coins to choose from. Both platforms charge a taker fee of 0.10 percent. However, CoinMetro beats Binance on maker fees since it charges 0.00 percent against Binance’s 0.10 percent.

Both platforms support wire and credit card-based deposit methods and derivative products. However, Binance.com isn’t available for United States users, while CoinMetro does operate in the US.

Additionally, CoinMetro and Binance both operate native tokens, XCM and BNB, respectively. These base assets are used to offer discounted trading fees to holders and may be used for other functions such as staking and investing in projects. Binance’s native token acts as the key to projects listed on the Binance Launchpad, while CoinMetro’s token gives users access to digital securities like bonds.

When it comes to order types, CoinMetro supports more sophisticated options tied to market, limit, and stop orders compared to Binance. For instance, CoinMetro users can initiate an order type called One Cancels Other (OCO) that combines a limit and a stop order on a single trade. Also, CoinMetro is home to extra customizable charting tools that beat Binance’s advanced charting features. For example, with CoinMetro charting, a trader can create graphs to mimic orders.

Along with CoinMetro, Binance also offers 40% back in commissions when you sign up with a Binance referral code. For the complete guide on the Binance referral program, read this Binance referral article.

Conclusion

Our CoinMetro review reveals that the exchange is a great stepping stone for those looking to join the cryptocurrency space. Additionally, it provides sophisticated options for seasoned virtual currency traders. Using the platform allows beginners in the cryptocurrency industry to learn from experienced crypto traders (for a small fee). CoinMetro fees are among the lowest in the industry. The platform doesn’t even charge a fee for market makers. And finally, CoinMetro offers the highest referral rewards in the industry when you consider the steps required to earn incentives.