CoinLim is an exchange registered in Singapore (previously Hong Kong). It launched in April 2018 and is available in both English and simplified Chinese.
The exchange also has an OTC-function, where users can create ads and sell their tokens through that medium of exchange instead.
The platform is also available as a mobile application, for the investors who prefer to do their cryptocurrency trading and monitoring “on the go”.
CoinLim permits US-traders, but US-traders should still do their own independent assessment of any problems arising from their residency or citizenship.
On the date of writing this review, 27 July 2019, CoinLim’s 24 hour trading volume was USD 19.5 million, placing it just north of the top 80 exchanges in the world, based on 24 hour trading volumes.
CoinLim Trading View
Different exchanges have different trading views. And there is no “this overview is the best”-view. You should determine which trading view suits you best. What the views normally have in common is that they all show the order book or at least part of it, a price chart of the chosen cryptocurrency and order history. Normally they also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can ascertain it feels right to you. This is the trading view at CoinLim:
CoinLim Trading fees
Naturally, trading fees are very important. Every time you place an order, the exchange charges you a trading fee. Trading fee is normally a percentage of value of the trade order. At this exchange, they don’t divide between takers and makers. Each party involved in a transaction has to pay the same fee: 0.10% of the order value.
0.10% is below the industry average.
Industry average has for a long time been 0.25%, but we are currently seeing a shift towards lower fees. Many exchanges now charge e.g. 0.10% or 0.15% instead.
CoinLim Withdrawal fees
When transferring cryptocurrency from CoinLim, you only have to pay the relevant network fee. But you always need to pay network fees when transferring crypto anyway. Accordingly, the exchange doesn’t charge any withdrawal fees of their own and thus makes no profit on your withdrawals. This withdrawal fee model, that the exchange doesn’t charge any withdrawal fees, is very consumer friendly and substantially below the global industry average of 0.000812 BTC per BTC-withdrawal.
All in all, the fees at CoinLim are very competitive.
This exchange does not accept any other deposit method than cryptocurrencies.
Check the CoinLim exchange and let us know what do you think about this exchange.