Coinone supports 250+ cryptocurrencies with Kakao Ventures and Daily Financial Group as its funders. Maker and taker fees range from 0.0% - 0.1% and 0.02% - 0.1%, respectively.
You can earn rewards of up to 3.88% per year on your ETH assets with Coinone exchange.
Coinone; An Introduction to the Crypto Exchange
Founded in 2014 and headquartered in Seoul, Coinone is one of South Korea’s leading cryptocurrency exchanges. Established by Myunghun Cha, a well-known figure in the local blockchain space, Coinone officially launched operations in 2015 and has since become one of Asia’s most recognized digital asset platforms.
Serving primarily South Korean traders, the exchange is known for its streamlined user interface, reliable execution, and strong emphasis on compliance and security. Coinone supports major cryptocurrencies such as Bitcoin, Ethereum, and Ripple, and has earned a solid reputation as a beginner-friendly yet feature-rich platform.
Although Coinone is a well-established exchange, it operates without Tier-1 or direct government regulation. This means it does not offer a dedicated investor protection fund or participate in international deposit insurance programs. Still, the platform compensates with several robust internal security features.
Coinone Exchange Table of Specifications
The Crypto exchange ranked second in global Ethereum trading volume in 2017. Let’s see what features have made Coinone so special.
Exchange | Coinone |
Launch Date | 2014 |
Levels | 9 levels |
Trading Fees | 0.2% |
Restricted Countries | 32 countries, including Iran, North Korea, Russia, and Syria |
Supported Coins | 250+ |
Futures Trading | No |
Minimum Deposit | 1 KRW |
Deposit Methods | Crypto, Bank Transfer |
Withdrawal Methods | Crypto, Bank Transfer |
Maximum Leverage | 1:1 |
Minimum Trade Size | 5,000 KRW |
Security Factors | 2FA, Cold Wallet, Multisig Wallet |
Services | Coinone Plus, Margin Trading, Early Bird Fee, Robo Advisor, Open API |
Customer Support Ways | Ticket, Live Chat, Tel |
Customer Support Hours | 24/5 |
Fiat Deposit | Yes |
Affiliate Program | Yes |
Orders Execution | Market |
Native Token | N/A |
Coinone Pros and Cons
In this Coinone review, we must mention that multiple companies, including Kakao Ventures and Daily Financial Group, have funded the exchange, helping it become one of the four largest crypto platforms in South Korea.
Pros | Cons |
User-friendly interface | Primary focus on the South Korean market |
Robust security | Limited fiat currencies |
Regulatory compliance | Limited educational materials |
Mobile Trading | No leverage options |
Does Coinone Offer User Levels?
Coinone’s tiered user level system ranges from LV 1 to LV 9, based on monthly trading volume. Users in higher tiers benefit from reduced fees and enhanced services.
Level | 30-Day Trading Volume (KRW) |
LV 1 | < 100,000,000 |
LV 2 | < 1,000,000,000 |
LV 3 | < 5,000,000,000 |
LV 4 | < 10,000,000,000 |
LV 5 | < 20,000,000,000 |
LV 6 | < 30,000,000,000 |
LV 7 | < 40,000,000,000 |
LV 8 | < 50,000,000,000 |
LV 9 | 50,000,000,000 or more |
The exchange evaluates user levels on a daily basis at 00:00 GMT+9.
Trading and Non-Trading Fees
Coinone exchange offers a flat fee of 0.2% for most Spot market trades. However, traders at higher user levels enjoy reduced fees.
- Maker Fee: From 0% to 0.1%
- Taker Fee: From 0.02% to 0.1%
- Withdrawal Commission for BTC: 0.0015 BTC
- KRW Withdrawal Charge: 1,000 KRW
- No deposit fees
Listed Cryptocurrencies on Coinone
Coinone provides access to over 247 cryptocurrencies, offering a strong range of coins for spot trading. Key supported assets include:
- Bitcoin (BTC)
- Ethereum (ETH)
- Ripple (XRP)
- Litecoin (LTC)
- USDT, KLAY, CELEB, and more
However, the platform only supports spot trading; users will not have access to futures, options, or NFTs.
The only fiat currency supported is the South Korean won (KRW), which may limit international traders looking for multi-currency flexibility.
Does Coinone Support Leveraged Trading?
According to CoinMarketCap, the exchange went through a prosecution by Korean authorities for offering margin trading on cryptocurrencies in 2017.
Since then, Coinone has removed leverage options and such services from its platform.
Account Opening and KYC
Traders can easily create a new account with the Coinone exchange and begin using its services. Coinone registration:
#1 Enter the Coinone Website
First, search for Coinone exchange on your browser. Once you have entered the official website, navigate to the sign-up section.
#2 Complete the Coinone Registration Form
Now, accept the terms and click on the “Start” option. Enter your email address and set a strong password for your trading account.
#3 Verify Your Email Address and Login to your Account on Mobile
Now, verify your email address using the email sent by the Coinone exchange. Then, open the Coinone app on your mobile and log in to your account using your credentials.
#4 Select the KYC Method
You have two options for verifying your account:
- If you select “Authenticate with Kakao Bank”, you’ll be redirected to the bank’s website to open an account and verify it by providing a resident registration card or driver's license;
- If you select “Verify mobile phone”, you must provide the 6-digit code sent to you via SMS and then upload your resident registration card or driving license.
Coinone Exchange Application
The company provides its clients a proprietary WebTrader and mobile application with access to TradingView indicators and charts. The mobile application is available across two operating systems, including:
Security Factors
Coinone founder and CEO, Myunghun Cha is a white hat hacker who developed the exchange’s security system.
He has won multiple prizes in DEFCON CTF Codegate hacker tournaments. The platform’s measures to protect user data and funds:
- Two-Factor Authentication (2FA): Adds an extra layer of security;
- Multi-Signature Wallets: Enhances cryptocurrency storage safety;
- Cold Storage: Majority of user funds are stored offline to prevent cyberattacks;
- Anti-Money Laundering (AML): Implementing a Dedicated AML Center and the CODE system for compliance with the FATF travel rule;
- Zero Hacks: Coinone has maintained a flawless record of no external breaches since its launch in 2014.
Deposit and Withdrawal
The platform supports fiat and cryptocurrency payment methods. While the supported digital assets for deposits and withdrawals are vast, KRW is the only fiat option. Important notes:
- KRW can be withdrawn to a linked bank account for a 1,000 KRW transaction fee;
- The only method for KRW deposits is bank transfer.
Coinone Reviews
While the platform is one of the biggest crypto exchanges in South Korea, it hasn’t performed well in users’ eyes.
- Coinone Trustpilot score: 2.1/5 (based on 9 reviews)
- CoinGecko score: 5/10
All reviews on Coinone TrustPilot profile are negative and 1-star. The main issues in the comments are withdrawal refusal and hidden fees.
Coinone Features
While Coinone is a well-known centralized exchange, its services extend beyond cryptocurrency trading. Coinone features:
Feature | Availability |
Staking | Yes |
Yield Farming | No |
Social Trading | Yes |
Liquidity Pool | No |
Gift Card | No |
How to Reach Coinone Support?
In this Coinone review, we must mention that the company has provided a comprehensive customer service center offering phone support and many more.
info@coinone.co.kr | |
Telephone | 1670-9756 |
Live Chat | Not reachable |
KakaoTalk Consultation | Available on the website’s footer |
Help Center | Frequently asked questions and user guides |
Offline Customer Center | Yongsan Prugio Summit 1st floor, 69 Hangang-daero, Yongsan-gu, Seoul |
Copy Trading and Growth Plans
While the Coinone exchange doesn’t provide a dedicated crypto copy trading software, it offers various programs for earning passive income.
Coinone Plus
- Daily: Rewards on your crypto holdings on a daily basis with APR of up to 6.97% on assets like Solana, Kaia, Ethereum, and Polka Dot
- Staking: APR of up to 16.34% for staking Cosmos and 3.88% for locking Ethereum
Coinone Auto Trading
Zenport Robo advisors with the following features:
- Strategy Customization with 100 indicators
- Targeting 200 coins on the 15-minute time frame
- 24/7 trading
Coinone Geo-Restrictions
Coinone primarily serves South Korean users but also provides services to international clients. Due to regulatory compliance, it prohibits residents of 32 countries, including:
- Iran
- North Korea
- Myanmar
- Bulgaria
- Burkina Faso
- Cameroon
- Democratic Republic of the Congo
- Croatia
- Haiti
- Kenya
- Mali
- Mozambique
- Namibia
- Nigeria
- Philippines
- Senegal
- South Africa
- South Sudan
- Syria
- Tanzania
- Vietnam
- Yemen
- Afghanistan
- Central Africa
- Iraq
- Libya
- Nicaragua
- Russia
- Somalia
- Sudan
- Venezuela
- Monaco
Comparing Coinone with Reputable Crypto Exchanges
The table below provides key information about the advantages and disadvantages of trading with the Coinone exchange compared to other exchanges.
Parameters | Coinone Exchange | |||
Number of Assets | 250+ | 400+ | 800+ | 2800+ |
Maximum Leverage | 1:1 | 1:125 | 1:125 | 1:100 |
Minimum Deposit | 1 KRW | $1 | $1 | Varies by Payment Method |
Spot Maker Fee | 0% - 0.1% | 0.02% - 0.1% | 0.005% - 0.1% | From -0.005% |
Spot Taker Fee | 0.02% - 0.1% | 0.04% - 0.1% | 0.02% - 0.1% | From 0.025% |
Mandatory KYC | Yes | Yes | Yes | Yes |
Futures Trading | Yes | Yes | Yes | Yes |
Mobile Application | Yes | Yes | Yes | Yes |
Fiat Payment | Yes | Yes | Yes | No |
Staking | Yes | Yes | Yes | Yes |
Copy Trading | Yes | Yes | Yes | Yes |
Writer’s opinion and conclusion
Coinone provides a crypto spot trading platform offering various promotions, including up to 200,000 Won bonus on BTG deposits and a 60,000 Won gift for new users’ first transactions.
The platform supports Crypto payments as well as KRW withdrawals (with a 1,000 Won transaction fee). While the exchange is well regulated, there are negative Coinone reviews on TrustPilot resulting in a poor trust score of 2.1 out of 5.