Launched in 2017, Cobinhood is a cryptocurrency exchange / digital asset platform with its own platform and utility token named Cobinhood (Ticker symbol: COB). It boasts real time trading and high security standards.
COB token is based on the ERC20 token standard and has a total supply of 1 billion tokens with 405 million in circulation.Users can pay in COB tokens in order to qualify for 50% off margin trading loan interest or 50% off withdrawal fees. It also seems that COB tokens received as payment for withdrawal fees get burned on a quarterly basis.
Cobinhood is the first blockchain financial hub that offers zero trading fees. It trades in Bitcoin, Etherium, and many more, with multiple trading pairs. In addition it offers a FIAT to crypto trading service in USD. Cobinhood runs a centralised and decentralised platform with the intention of migrating the centralised platform into the decentralised one.
One of the main priorities of Cobinhood is security. It implements features such as two-factor authentication, offline vaults, insured online wallets and multi signature wallets. COB tokens held in Cobinhood exchange accounts qualify holders for substantial savings when it comes to the ICO tokens that get underwritten by Cobinhood. COB tokens are also required for trading contests and in order to join airdrops via Cobinhood’s Airdrop Center. In addition, the transfer of COB tokens from one Cobinhood account to another seems to be free of charge.
The Cobinhood website is available in various languages, including English. A Cobinhood exchange review also reveals that they reward both referrers and referrees. They get rewarded in the form of “Candy Machine” tickets. The tickets can be used at Cobinhood’s “Candy Machine” in order to win free BTC, ETH, and other digital assets / cryptocurrencies.
This crypto exchange seems to offer an instant listing service to ERC20 tokens. The listing of a token can be finalized in one day and in a one click process. They also offer various ways to get “free” tokens, investment tools, and other services.
Cobinhood Exchange Score Analysis
Cobinhood is a Cayman Islands-based Cryptocurrency exchange with headquarters in Taiwan. The exchange’s main benefit is the fact that it charges zero trading fees (similar to the stock market app Robinhood), alongside other services, such as an ICO platform and margin trading. Cobinhood is fairly easy to use and is accessible, on par with similar cryptocurrency exchanges of its magnitude. In comparison to big cryptocurrency exchanges, such as Binance or Huobi, Cobinhood doesn’t manage to attract as much volume (hovering around $80K daily as ofwriting this), partly due to the reason that it does not list a large amount of coins – 36, to be exact. There is also an option to trade cryptocurrencies against USD on Cobinhood, although the option is only accessible to those who have underwent extensive KYC. The daily trading volume on fiat pairs amounts to almost zero. The risk factor of entrusting funds with Cobinhood is hard to assess, as while there are many roadblocks on the way to access funds – including email verification and 2FA, it is hard to assess the level of threat management the internal Cobinhood team is capable of performing We have not determined if there is a dedicated security expert on the team. To conclude, Cobinhood is a medium-sized exchange with many traders drawn to its zero-fee platform, but not enough coin listings and volume to justify becoming a major player at this point in time. The exchange displays some risk to those who prefer to keep their funds on the exchange.