Coinut offers access to 6 cryptocurrencies with support for 9 fiat currencies, including CAD, USD, and SGD. The minimum trade size on the exchange is $10. It charges no commissions for crypto swaps.
Coinut; An Introduction to The Exchange
Coinut, short for "Coins U Trust", is a Singaporean cryptocurrency exchange with locations in Singapore, Canada, and Switzerland.
The company was founded in 2013 by Xinxi Wang (Litecoin Core developer) and Tao Huang. Coinut is backed by Boost VC from Silicon Valley, Bitmain from Beijing, and the National University of Singapore Enterprise from Singapore. Key features of Coinut:
- Regulated by Canada FINTRAC as a Money Services Business
- Regulated by VQF in Switzerland
- Applied for licenses from the Monetary Authority of Singapore (MAS) and the Ontario Securities Commission
- Support for SGD,USD, and 7 more fiat currencies
Coinut Exchange Table of Specifications
The crypto exchange supports only six cryptocurrencies and two fiat currencies. Let’s take a quick look at Coinut offerings.
Exchange | Coinut |
Launch Date | 2013 |
Levels | 5 Levels |
Trading Fees | Variable based on the user level |
Restricted Countries | United States, Iran, North Korea, Syria, Cuba, Hong Kong, Afghanistan, Croatia, Taiwan, Albania, Macedonia, Costa Rica, Haiti |
Supported Coins | 6 |
Futures Trading | No |
Minimum Deposit | $10 |
Deposit Methods | Apple Pay, Google Pay, VISA, MasterCard, Crypto |
Withdrawal Methods | Bank Transfer, Crypto |
Maximum Leverage | 1:1 |
Minimum Trade Size | $10 |
Security Factors | 2FA, Coinbase Custody, Semi-manual process of significant withdrawals |
Services | Spot Market, Crypto Swap, Referral, Wrapped Litecoin (WLTC) Services |
Customer Support Ways | Email, Ticket |
Customer Support Hours | N/A |
Fiat Deposit | Yes |
Affiliate Program | Yes |
Orders Execution | Market |
Native Token | No |
Coinut Advantages and Disadvantages
The exchange supports direct SGD deposit via FAST transfers. However, the limited asset offering is a big letdown in this Coinut review.
Pros | Cons |
Regulated in multiple countries | No leverage trading available |
Fiat currency support | Limited cryptocurrency options compared to larger exchanges |
Wrapped Litecoin (WLTC) services | Not available in all jurisdictions |
Fee discounts | Relatively lower liquidity compared to major exchanges |
User Levels
The exchange features a tiered fee structure with five user levels based on 30-day trading volume.
User Level | 30 Days Trading Volume (USD) |
Normal | < 10,000 |
VIP 1 | > 10,000 |
VIP 2 | > 100,000 |
VIP 3 | > 500,000 |
VIP 4 | > 2,000,000 |
Coinut Fees Explained
The exchange prides itself on offering competitive fees across various trading activities. In BTC and LTC markets, Makers pay no charges, and Takers pay a 0.1% commission.
The platform also supports Wrapped Litecoin (WLTC) with fees of 0.3% for minting and 0.3% for redeeming. Coinut Fees for Crypto/USDT and Crypto/XSGD trading pairs:
User Level | Maker Fee | Taker Fee |
Normal | 0.45% | 0.50% |
VIP 1 | 0.40% | 0.45% |
VIP 2 | 0.35% | 0.40% |
VIP 3 | 0.30% | 0.35% |
VIP 4 | Free | 0.30% |
Note that Coinut charges no fees on crypto swap transactions.
Listed Digital Assets on Coinut Exchange
Coinut offers access to a limited but focused list of just 10 cryptocurrencies, including major coins like BTC, ETH, LTC, and USDT. While suitable for basic crypto trading, the platform does not support derivatives such as futures, perpetuals, or options.
Users can trade pairs involving major fiat currencies, such as SGD, USD, and CAD, although the number of active markets is limited. Notably, staking, NFT trading, and passive income features are not available on Coinut, which may limit its appeal to long-term investors or DeFi participants.
This lean asset offering caters primarily to spot traders who prioritize simplicity and regulatory clarity over token variety.
Does Coinut Offer Leverage Options?
At the time of writing this Coinut review, the platform does not offer leverage trading options. The exchange focuses on spot trading, providing users with a straightforward and less risky trading environment.
This approach aligns with Coinut's commitment to security and compliance with relevant regulations.
Registration and Verification
To begin trading in the Coinut exchange, traders must complete a few easy steps. Coinut registration:
#1 Enter the Coinut Account Opening Section
Visit the Coinut exchange official website and click on the "Sign Up" button.
#2 Complete the Sign-up Form
Now, provide an email address and set a strong password to complete the Coinut exchange registration form.
#3 Verify Your Email
Open your inbox and click the verification link sent to your email to verify your email.
#4 Complete Coinut KYC
Now, enter your phone number and complete ID and address verification.
Coinut Exchange App and Trading Platform
The company offers both web-based and mobile trading platforms with access to TradingView charts and tools.
TradingFinder has developed various advanced TradingView indicators that you can use for free.
Coinut Safety and Security
In addition to a strong regulatory framework, the exchange holds certificates from two global organizations: Straits Interactive (Data Protection) and TÜV SÜD. Coinut security measures:
- Partnership with Coinbase Custody
- Real-time internal audit
- Semi-manual process of significant withdrawals
- Two-factor authentication (2FA)
Deposit and Withdrawal Options
In addition to Crypto deposits and withdrawals, the platform supports payments in 9 fiat currencies, including AUD, USD, EUR, CAD, CNH, SGD, MYR, HKD, and JPY. Coinut payment methods:
- VISA
- MasterCard
- Apple Pay
- Google Pay
- Local payment methods (e.g., Xfers, iBanking, cheque in supported countries)
Note that the availability of methods may differ based on your location.
Coinut Trust Scores
At the time of writing this Coinut review, the exchange is ranked #565 on CoinMarketCap. There are only nine comments on the Coinut Trustpilot profile, resulting in an average score of 3.5 out of 5.
Coinut Exchange Support Channels
One of the biggest letdowns in this Coinut review is the lack of proper support channels. The exchange only offers a ticket system and email as contact methods.
- Email: support@coinut.com
- Ticket: Available through the “Support” page
Coinut Features
Unfortunately, Coinut doesn't provide various trading services besides crypto trading.
Feature | Availability |
Staking | No |
Yield Farming | No |
Social Trading | No |
Liquidity Pool | No |
Gift Card | No |
Does Coinut Offer Investment Plans?
While the platform doesn’t offer any copy trading or staking services, it features a comprehensive referral program with the following features:
- Referrer: 0.062 LTC + 30% of all trading commissions for the first 2 years
- Referred Friend: 0.203 LTC
- Requirements: Completing KYC and trading $3,000 or more within 180 days
Restricted Countries
While Coinut serves a global user base, some countries are restricted due to regulatory requirements, including:
- United States
- Iran
- North Korea
- Syria
- Cuba
- Hong Kong
- Afghanistan
- Croatia
- Taiwan
- Albania
- Macedonia
- Costa Rica
- Haiti
Coinut Compared to Other Exchanges
Let's compare Coinut's key features with other famous exchanges.
Parameters | Coinut Exchange | |||
Number of Assets | 6 | 2800+ | 400+ | 700+ |
Maximum Leverage | 1:1 | 1:100 | 1:125 | 1:100 |
Minimum Deposit | $10 | Varies by Payment Method | $1 | $1 |
Spot Maker Fee | 0% - 0.45% | From -0.005% | 0.02% - 0.1% | From 0.005% |
Spot Taker Fee | 0.3% - 0.5% | From 0.025% | 0.04% - 0.1% | From 0.025% |
Mandatory KYC | Yes | Yes | Yes | Yes |
Futures Trading | No | Yes | Yes | Yes |
Mobile Application | Yes | Yes | Yes | Yes |
Fiat Payment | Yes | No | Yes | Yes |
Staking | No | Yes | Yes | Yes |
Copy Trading | No | Yes | Yes | No |
Writer's Opinion and Conclusion
Coinut provides access to 11 trading pairs in 4 markets, including LTC, BTC, USDT, and XSGD. While the maker fees in LTC and BTC markets are $0, USDT and XSGD markets incur a maker fee ranging from 0% to 0.45%. The exchange has an average trust score of 3.5 out of 5 on Trustpilot.