What is CoinZoom?
CoinZoom claims to be more than just a simple crypto exchange. It claims to make it possible for the masses to explore the blockchain industry. It also plans to close the gap between the FX, future and stock markets. CoinZoom currently operates in more than 190 countries. It is even available for residents of the US and Australia, two giants in the crypto industry. The platform was established in 2018, and it is currently headquartered in Utah.
With more than 100 trading pairs, premium security features, a professional interface, a seamless experience and convenient payments, CoinZoom is one of the very few crypto exchanges offering it all in a single place. Besides the usual trading features and easy crypto purchases, CoinZoom brings two of its own interesting features: crypto cards and CoinZoom Cash. These features are not only beneficial but very convenient and easy to use.
My Overall Thoughts on CoinZoom
CoinZoom has thought outside the box. In addition to the standard features, it brings rare offerings, such as the ability to buy crypto assets with hard cash and the platform’s own crypto debit cards to make it easier for users to make purchases all over the world.
While the platform supports trading and purchasing cryptocurrencies, these things are not the focus of the exchange, as it is trying to transform the whole concept of crypto payments and everything related to it. This brings me to a few of my favorite things about CoinZoom:
1) You can buy cryptocurrencies with cash: Through the CoinZoom Cash service, you can purchase cryptocurrencies with physical money by going to an affiliated retailer. Users can top off their accounts with cash and then use the money in their accounts to buy crypto assets. The exchange also supports the old-school payment methods of debit cards and wire transfers.
2) CoinZoom offers crypto debit cards: You might have a debit card issued by your bank, but do you have one offered by your crypto exchange? CoinZoom offers crypto debit cards that users can use anywhere they want. You can opt for either a physical card or a virtual card.
3) The trading interface is advanced: CoinZoom hosts a full-fledged trading interface with a professional layout and fast and accurate charts. You can also find the order book, trading history, depth charts and other similar options right on the platform.
CoinZoom just has to work a little on expanding available trading markets to include options like futures, derivatives or ETFs, all of which are popular among traders.
Key Features and Advantages of CoinZoom
CoinZoom is definitely a one-of-a-kind cryptocurrency exchange due to its features and options. They have not only made it easy to get your hands on different cryptocurrencies or trade them professionally but also given their users the options to obtain crypto VISA cards and buy cryptocurrencies with physical cash.
This is just a glimpse of what CoinZoom offers to its users. To learn exactly what CoinZoom offers, look at the list of their key features and advantages below.
Negatives and Disadvantages of CoinZoom
CoinZoom has worked a lot on transforming the crypto industry through innovative crypto payments and purchases. Although it offers many benefits, there are a few things you should keep in mind.
What Services Does CoinZoom Offer?
CoinZoom has excellent variety when it comes to offering features that help you buy or trade crypto assets with ease. Many of these features are unique to CoinZoom. They have transformed the concept of buying crypto assets—you can even buy them with hard cash.
With CoinZoom crypto cards, you can pay millions of merchants from all over the world with your cryptocurrency. But that is not all. Read on to see what services CoinZoom offers.
Several methods to buy crypto: Purchasing cryptocurrency on CoinZoom is a quick and efficient process where users can choose between more than 40 cryptocurrencies. There are many methods to buy cryptocurrencies on the platform. Aside from the popular payment methods like bank transfers, credit and debit cards and crypto transfers, CoinZoom offers the option to buy cryptocurrencies with hard cash.
The platform makes this possible with the CoinZoom Cash service. The service works like a bank. You have to visit one of the hundreds of retailers all over the world to top off your account directly. Users can transfer up to $999 of hard currency to their CoinZoom wallet through the retailers without a service fee. This money can then be used to purchase crypto from your CoinZoom account wallet. Before selecting this option, be sure to check if you have a CoinZoom Cash retailer near you.
Crypto debit cards with cashback: This feature is hands down one of the best for traders and investors. Only a few cryptocurrency exchanges offer users a physical debit card that they can use in ATMs or anywhere online. It’s a difficult feat to accomplish, as an exchange needs the proper infrastructure to support the cards. Surprisingly, CoinZoom has done it.
CoinZoom cards can be used anywhere in the world, and the best thing is they are not limited to merchants who accept cryptocurrencies. You can use the cards at any merchant that accepts VISA. During a purchase, CoinZoom will convert your crypto asset into USD, deducting the appropriate value.
CoinZoom cards also offer premium cashback and other rewards. And users who have second thoughts about using a debit card online can request virtual debit cards. Virtual cards allow you to top off your account only temporarily, so you can use your funds online without worrying about breaches or hacks.
Due to currency conversion complications and restrictions all over the world, CoinZoom debit cards are available only to users in the United States, and even then, users must hold a particular amount of ZOOM, the platform’s utility token, to be eligible for one.
40+ cryptocurrencies to trade and buy: In this era of crypto exchanges, offering hundreds or even thousands of cryptocurrencies has become the new normal. But do you actually need that many? Almost all traders stick to the same popular cryptocurrencies, since they can better evaluate the market rather than go with coins that have no analytics. The same goes for investors, as they prefer to play it safe and think for the long term.
This might be why CoinZoom has kept its variety of cryptocurrencies minimal. The exchange focuses on the more significant assets with an enormous market cap so you can have a better understanding and evaluation of your chances. In total, there are about 40 crypto assets that you can trade or buy. Some of those cryptocurrencies are:
- ADA
- ALGO
- BTC
- BCH
- LTC
- SHIB
- ZRX
- ETH
Some traders might feel a little restrained by the variety of cryptocurrencies, but this is how CoinZoom plans to offer the best possible experience to its users.
Mobile apps: If you are the type of trader or investor who values simplicity, portability and feasibility over anything, then I’m guessing you would love to have crypto apps on your mobile devices. These apps allow you not only to trade your heart out wherever and whenever but also to make mobile purchases and use the application as your crypto wallet.
CoinZoom’s mobile apps are professional and efficient. You can download the app on an iOS or Android device. The app allows you to keep track of your account, can send money to anyone, keep your debit card in check, hold assets, earn interest and trade. You can either quickly sign up or sign in with your existing account to start using the app.
Advanced trading interface with useful features: The trading interface is just another aspect that CoinZoom has aced, proving it can be an excellent choice. For starters, the overall look of the interface is highly professional. Every inch of space is well utilized. It does not lack in details or features. On the left side, users are provided with the complete list of assets they can trade on the platform. Simply click on any of them to view the details for that asset.
Right below the assets list is the order-placing section, where users place buy or sell orders. You can also set the stop-loss or other limits to secure your trades here. The center displays the complete chart of any asset you have chosen. The charts at CoinZoom are accurate, fast, and precise, and you will not be disappointed by their customization options. Users can replace the candles, choose different timestamps, select different themes, add comparisons or even check out the depth charts for better market evaluations.
The panel on the right is filled with the order book and your trade history, which you can check anytime you want.
NFT marketplace with no gas fee: NFTs are the new big thing in the era of digitalization. Apparently, thousands of people have made millions from NFTs by minting them or buying and reselling them. However, there are not as many NFT marketplaces as there are crypto exchanges. But if you use CoinZoom, you will be provided with a complete package of digital assets, including NFTs.
CoinZoom claims to make it hassle free for users to mint NFTs. But its main selling point is there is no gas fee for buying or selling NFTs. A gas fee can cost you a fortune on a high-demand day, so many traders look for alternatives just to avoid it. With CoinZoom, users also get funding options, an integrated wallet, perpetual royalty and an easy interface.
Excellent staking program: If you want to earn a little extra with the assets you are holding, CoinZoom has the perfect program. With the CoinZoom staking program, you can stake a few assets and earn APY on them. CoinZoom allows staking on more than 40 cryptocurrencies. Of course, each of them comes with a different APY, so some assets have great returns and some don’t.
The highest you can earn on the platform is 10% of your staked amount, although VIP members can earn up to 20% APY. To see the list of assets that can be staked, along with their return values, visit the CoinZoom Earn page.
Easy to get started: It is effortless to get started with CoinZoom. All you need is an email address, a mobile phone number and a password. After signing up and verifying your phone number and other details, you can start utilizing the exchange’s services. Be sure to check if your country is supported on the exchange before you begin the signup process, though, to avoid headache.
Premium security features: It is a fact that CoinZoom has a few of the best security measures, making the platform secure and safe for everyone to use. Aside from integrating multilayer security and protective systems, CoinZoom claims that user funds are also insured by certified institutional custodians. In short, you can expect a safe environment from CoinZoom.
Good customer support: The customer support is quite efficient and quick, and is available 24/7. The platform even has a massive FAQ section where users can sort out their issues on their own. If a problem persists, simply fill out a short form and explain your situation to get a reply from the support team. Typically, issues are solved within hours, but in a few unfortunate cases (especially if it is a complex issue), it might take more than a day or two.
Attractive referral program: CoinZoom’s referral program can help you earn a side income. Each referral can earn you $5 in ZOOM tokens, but your referral will first have to fulfill certain requirements.
Things I Don't Like About CoinZoom
Despite all the benefits and advantages of CoinZoom above, there are a few things that I don’t like about the platform. Keep reading to see if they would be dealbreakers to you.
Restricted from a handful of countries: Although CoinZoom is available for users in the United States of America, the exchange is not available in many Asian countries.
No variety of trading markets: The only trading market on CoinZoom is the spot. There is no option to explore ETFs, futures, derivatives, fiat or other markets that would offer diversity. The exchange does not even let users use leverage on their trades for better results. If you have no problem with trading in a single market, CoinZoom can be a great choice, but if you desire diversity, you might choose a different exchange.
CoinZoom Fees
CoinZoom Deposit Fees
The deposit fee at CoinZoom is as follows:
- Crypto transfers: Free
- ACH transfers: Free
- Wire transfers: Free
- Debit Cards: 2.99%
- CoinZoom Cash: 5%
CoinZoom Trading Fees
The trading fee for makers starts at 0.36%. The fee for takers starts at 0.44%. This fee can be lowered depending on your ZOOM holdings. Take a look at the chart below to get a better idea.
CoinZoom Fiat Withdrawal Fee
The fee for fiat withdrawals at CoinZoom is as follows:
- ACH transfers: Free
- Wire transfers: $25
- CoinZoom Instant (for US only): $1.50 or 1.5%
CoinZoom Crypto Withdrawal Fee
The fee for withdrawing crypto assets varies for each available asset. To get an accurate idea of the crypto withdrawal fees, refer to the exchange’s fee page.
Pros and Cons of CoinZoom
- Easy crypto purchases via several methods
- Professional trading interface
- Stake and earn interest on assets
- Advanced mobile apps
- NFT marketplace available
- Not available in a few countries
- Not the best diversity in trading markets
The Verdict
If you are looking for a cryptocurrency exchange that has been doing every possible thing to make the crypto industry both more advanced and more feasible, then there is no better choice than CoinZoom. They have not only made trading, buying and selling crypto assets easy but changed the concept of paying for and with crypto assets. The exclusive CoinZoom Cash service and CoinZoom debit cards give the platform a great upper hand.
As for standard features, CoinZoom offers many features a trader or investor would want. You can even earn extra money through the staking and referral programs. The availability of popular crypto assets also allows you to hold potentially better assets or trade them at your convenience. In the end, CoinZoom can be a great choice for any crypto enthusiast who is tired of using the same old cryptocurrency platforms.
If you are interested in researching other platforms, you can have a look at these articles on the best crypto margin trading platforms, and best cryptocurrency exchanges in the USA. There is also a quick comparison table below which you can use to help you make up your mind.
Comparison Table of the Best Crypto Exchanges in the USA
Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk.
Frequently Asked Questions
Yes, CoinZoom is available for users in the US. But the exchange restricts users from a few other countries — check out the exchange’s official page for more details.
CoinZoom is a trusted and secure platform offering exclusive services to millions of people from all over the world.
CoinZoom offers users over 40 crypto assets to buy, sell and trade.
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