Today, I will introduce you to another cryptocurrency exchange. CoinTree is an Australian based cryptocurrency exchange that allows to trade with some coins.
CoinTree is a platform that allows customers to buy and sell bitcoins safely and quickly. Established in 2013, CoinTree underwent a rebranding and launched a new trading platform in June 2018.
In this CoinTree review, you will get the answers to these questions. What is CoinTree? Is CoinTree safe? What are the CoinTree fees? What are the CoinTree withdrawal limits? Which cryptocurrencies are available in CoinTree?
I reviewed CoinTree based on the following criteria.
- No major hacks yet
- Various cryptocurrencies
- Relatively competitive fees
- Basic functionality. Advanced trading features not available.
About the Company
What is CoinTree?
CoinTree is a crypto service provider that offers the opportunity to buy and sell cryptocurrencies. They sprung up in Melbourne in 2013 at cointree.com.au with a belief that these amazing technologies should be made more accessible and more understandable to the everyday person.
They are nowhere. With 60,000+ members and over $100 million worth of lifelong successful transactions. They continue to move forward with their Quick, Simple and Secure service.
Is CoinTree Safe?
At Cointree, they take their security very seriously. They are committed to protecting your information. Their security measures include, but are not limited to:
- They use a hot/cold wallet system
- 2-Step verification is required for any fiat or digital currency withdrawal
- Their website traffic runs entirely over encrypted SSL (HTTPS)
- All passwords are hashed and salted in the database
- Application credentials are kept separate from database and code base
- All Cointree employees must pass a criminal background check as part of the hiring process
- Secure server and closed network environments
- Management of access privileges, to ensure that only those who really need it can see your personal information
- Ongoing training and security reviews
CoinTree says it encrypted all website traffic by using SSL. All the important user details are encrypted using the latest encryption technology. And the Bitcoin wallet they produce for you is encrypted several times with different encryption methods.
User Bitcoin wallets are protected with a salted encrypted passphrase per user, and then the encrypted wallet is encrypted again before being stored.
User verification is handled by a trusted identity verification provider that is 100% compliant with Australian laws and regulations.
Two-factor authentication is a great way to ensure your account cannot be compromised. An application on your phone is used to generate a unique code every 30 seconds.
Cointree offers one of the lowest fees in the market, globally. Their tiered approach which will suit different levels of investors, the more you trade, the better the Reward Tiers you unlock!
Cash Deposits, Blueshyft fee is 3%
Electronic Fund Transfers have no fee
POLi payments deposit fee is $3.50 AUD
Cryptocurrency Transfer have standard transaction (mining) fee
It is free to withdraw AUD from your Cointree account to your Australian bank account.
Purchase Limits on Cointree
Internet / mobile banking purchase limit $8,000 per daily limit and $20,000 AUD per weekly limit (actual limits vary per customer).
The minimum purchase amount is $20.
|Buy/Sell Coin||Coin-to-Coin Trades||Referral Commission||Trade Volume (AUD)||Referals|
To unlock each reward tier, you’ll only need to meet one of the unlock goals, being either trade volume or referrals in a 30 day period.
Trading Instruments (Cryptocurrencies)
Cointree allows you to trade the following cryptocurrencies:
- 0x (ZRX)
- Aeternity (AE)
- Aion (AION)
- Augur (REP)
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- DigixDAO (DGD)
- EOS (EOS)
- Ethereum (ETH)
- Cardano (ADA)
- Dash (DASH)
- Ethereum Classic (ETC)
- Litecoin (LTC)
- ICON (ICX)
- IOSToken (IOST)
- OmiseGO (OMG)
- Populous (PPT)
- Status (SNT)
- Tronix (TRX)
- VeChain (VEN)
- Zilliqa (ZIL)
- Zcash (ZEC)
- Monero (XMR)
- Nem (XEM)
- Neo (NEO)
- Lisk (LSK)
- Decred (DCR)
- Siacoin (SC)
- Steem (STEEM)
- Golem (GNT)
- DigiByte (DGB)
- Basic Attention Token (BAT)
- Komodo (KMT)
- Bitcoin Gold (BTG)
- Ontology (ONT)
- Qtum (QTUM)
- Ripple (XRP)
There are a few payment options at CoinTree. These are Bank wire transfer, Cash at a bank branch, and Poli Payments.
The exchange offers an expansive help center section. There are answers to a wide range of questions that investors can ask here.
CoinTree is an Australian based exchange, which allows clients to buy and sell cryptocurrencies. There are a lot of trading products. The platform is fast and reliable. It offers competitive fees.
You can find this exchange insufficient, for alternatives you can find more exchanges on my website. There are pros and cons of CoinTree in the table below.