By Frank Martin (MoneyAmped.com)
Introduction to Coinsdrom
Coinsdrom is a well-established cryptocurrency exchange offering services to users in various countries, excluding some restricted regions. With its headquarters in Vilnius, Lithuania, the platform is fully authorized to provide virtual currency services.
This Coinsdrom exchange review will highlight the platform’s key features, focusing on its compliance, robust security measures, and transparency, which have earned it a strong reputation in the crypto space.
Crypto Services for Individuals
Coinsdrom offers users the ability to buy and sell several popular cryptocurrencies, including Bitcoin, Ethereum, and Tether (USDT). A standout feature is the ease of use, making it accessible even for beginners. The platform provides step-by-step guidance, ensuring that even those unfamiliar with purchasing Bitcoin online can navigate the process with ease.
Another key benefit is Coinsdrom’s collaboration with reputable liquidity providers, ensuring customers get access to competitive market rates. It’s important to note that Coinsdrom does not store fiat or cryptocurrencies on behalf of its users, in line with regulatory requirements.
When purchasing crypto, payments can be made via debit/credit cards or bank transfers. Once the payment is received, the platform quickly finalizes the exchange and sends the tokens directly to the wallet address you provide. The same process applies when selling crypto, with the funds being transferred to your bank account.
KYC Requirements and User Levels
Coinsdrom follows a tiered system for its users, which affects the KYC (Know Your Customer) process depending on the amount of cryptocurrency they intend to exchange.
- Level 1 users can exchange between 200 EUR and 5,000 EUR, with a simple KYC process that involves providing proof of identity and a live selfie for verification.
- Level 2 users, exchanging between 5,001 EUR and 75,000 EUR, are required to provide additional documents, including proof of address and Form 501.
- Level 3 users, who deal in amounts over 75,001 EUR, must submit all previous documents as well as Form 502, proof of funds, and undergo a video call verification.
These tiered levels allow Coinsdrom to maintain a high standard of regulatory compliance while catering to a wide range of users with varying transaction volumes.
Customer Support and Educational Resources
Coinsdrom offers a variety of support channels, making it easy for customers to reach out for assistance. Live chat is available during working hours, ensuring prompt responses, while email and phone support are also offered for more in-depth inquiries.
In addition to customer support, Coinsdrom provides valuable educational content. The platform’s blog features insightful articles about the crypto market, while their YouTube channel offers helpful video tutorials on topics like account registration and KYC procedures, making it easier for users to navigate the platform.
Final Thoughts
Coinsdrom stands out as a secure, compliant exchange that prioritizes the needs of its customers. By not holding user funds, it ensures that clients have full control over their assets, acting purely as a gateway to the crypto market.
Based on this Coinsdrom exchange review, the platform’s focus on security, compliance, and user support positions it as a competitive choice for those looking to buy or sell cryptocurrencies in a safe and authorized environment.
