Exceeded

Score

0123456789.01234567890123456789
/10

HCOIN

Seychelles

|

2-5 years

MSB License|

Suspicious Overrun|

High potential risk

https://www.hcoin86.com/

Website

Rating Index
Influence

Influence

C

Influence Index NO.1

Germany 2.33

Better than 98.20% exchange(s)

Biz Area

Search Statistics

Advertising

Social Media Index

Influence
C

Licenses

FinCEN

FinCENExceeded

MSB License

Exchange Info

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Company Name
HCOIN
Phone of the company
--
Facebook
--
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Customer Service Email Address
service@hcoin.com

WikiBit Risk Alerts

2
Previous Detection 2024-04-19

The number of this Exchange's nagitive field survey reviews has reached 1, please be aware of the risk and the potential scam!

MSB License goes beyond their business with the licenses United States FinCEN (license number: 31000153105573), please be aware of the risk!

Website

Genealogy

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Keywords

Time Machine

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Vol Stat

Influence

Yesterday Vol

7 Days

No data

User Reviews

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5 ratings

Participate in evaluation
FX1074676905
The price fluctuations of HCOIN are too large, which has brought too much risk to my trading activities. The on-exchange liquidity is also quite poor, and I am very dissatisfied.
2024-01-21 10:09
8
FX2045692505
HCOIN is less than impressive. Dreadfully long deposit times and obvious gaps in data security. You guys need a serious upgrade!
2023-10-14 13:09
4
FX1525691881
HCOIN's price volatility keeps me at the edge of my seat - never a dull moment, for sure. Their innovative tech doesn't disappoint either.
2024-02-18 09:16
3
Verified Trader
While HCOIN Exchange offers a decent range of cryptocurrencies for trading, their fees can be quite high compared to other exchanges. However, the platform's liquidity and volume make it a good option for those looking to make larger trades.
2023-04-14 16:28
0
Verified Trader
I've been using HCOIN Exchange for a few months now and I've found the platform to be user-friendly and efficient. The customer support team has been responsive and helpful whenever I've had questions or issues.
2023-04-14 16:27
0
Aspect Information
Company Name HCoin
Registered Country/Area Seychelles
Founded year 2-5 years
Regulatory Authority Regulated by FinCEN (exceeded)
Supported Cryptocurrencies 100+
Fees 0.1%-0.2% handling fees
Customer Support Email: service@hcoin.com, Twitter

Overview of HCoin

HCoin, regulated by FinCEN with exceeded regulatory status, is a global centralized exchange dedicated to users around the world to manage and trade digital assets. Hcoin is registered in the Seychelles and offers around 100 cryptocurrencies for trading to users including the most popular Bitcoin, Ethereum, Ripple, Litecoin, and Bitcoin Cash. However, HCoin does not present transparency on its operations and trading conditions through its uninformative one-page website.

Overview of HCoin

Regulatory Authority

HCoin possesses an exceeded license from FinCEN (Financial Crimes Enforcement Network), bearing the license number 31000153105573 which raises concerns about its legitimacy and safety measures. The exceeded regulatory status could pose risks to the security of user funds, create vulnerability to potential fraudulent activities, and undermine transparency and accountability in its operations.

It is essential for traders to be cautious and conduct thorough research before undertaking any transactions on platforms lacking regulatory safeguards.

regulation

Pros and Cons

Pros Cons
An extensive range of tradable cryptocurrencies FinCEN exceeded regulatory status
Lack of transparency on its one-page website
Handling fees charged

Pros:

- An extensive range of tradable cryptocurrencies: HCoin offers a wide variety of over 100 cryptocurrencies for trading. This large selection gives users the enjoyment of choice and allows them to diversify their portfolios across a broad spectrum of digital assets.

Cons:

- FinCEN exceeded regulatory status: HCoin exceeds FinCEN regulation, which raises concerns about its transparency and safety measures. Traders should proceed with caution before engaging in transactions on unregulated platforms.

- Lack of transparency on its one-page website: The limited information available on HCoin's website makes it difficult for users to obtain comprehensive insights about their services, operations, and governing practices. This lack of transparency can be problematic for those seeking to make informed trading decisions.

-Handling fees charged: HCoin levies a fee of 0.1% to 0.2% on transactions. While this aligns with industry norms, it's crucial for traders to incorporate these costs when calculating potential returns.

Security

HCoin claims to place a strong emphasis on security to safeguard users' funds. They employ several protective measures, including Two-factor authentication (2FA), where users input a code from their phone along with their password for login, enhancing account security.

However, while these efforts are significant, absolute security isn't guaranteed. Some have raised concerns about the lack of transparency and accountability of the HCoin team, as well as the vulnerability of the HCoin blockchain to attack. In addition, there have been a number of high-profile hacks of HCoin exchanges and wallets.

Trading Market

HCoin offers a vast selection of over 100 cryptocurrencies for trading on its exchange, including Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Litecoin (LTC), and Binance Coin (BNB). It also supports a number of lesser-known cryptocurrencies, such as EOS, XRP, and Dogecoin. This variety of cryptocurrencies caters to traders with different strategies and risk appetites.

Cryptocurrencies available

Apart from offering cryptocurrency trading, HCoin also extends its services to cover futures trading. This diversification allows traders to speculate on the future value of assets, offering an opportunity to hedge investments or take strategic positions based on anticipated market movements.

Whether it's to hedge against possible price fluctuations or profit from them, futures trading on HCoin can be a valuable tool for both risk management and profit maximization.

Fees

HCoin charges a nominal handling fee for transactions on its platform, priced within the range of 0.1% to 0.2%. This fee is levied on trades to cover the operational and administrative costs associated with executing transactions.

While these charges are minimal, they should be considered in trade planning, as they could impact returns on high-volume trades. Notwithstanding, the fee structure aligns with industry standards, making HCoin a relatively cost-competitive choice for traders seeking a fair and operative platform for their trading endeavors.

Exchange Comparison

Exchange
Exchange Comparison
Exchange Comparison
Exchange Comparison
Exchange Comparison
Fees 0.10%-0.20% 0.075% - 0.000% 0.18% - 0.03% 0.00% - 3.99%
Cryptos Available 100+ 500+ 700+ 200+
Website https://www.hcoin86.com/ BINANCE.com/en huobi.com coinbase.com

Is HCoin a Good Exchange for You?

While HCoin does offer an extensive variety of over 100 cryptocurrencies for trading, several factors suggest caution.

The exchange operates outside of regulatory oversight, exceeding the standard FinCEN guidelines, which raises concerns about its legitimacy and commitment to maintaining a fair trading environment.

Furthermore, the platform lacks transparency, evident in its one-page website that provides limited information about its operations, services and trading conditions.

While trading versatility is a positive aspect, the potential risks associated with regulatory noncompliance and lack of operational transparency might outweigh this advantage. Therefore, it is not the best choice for traders seeking a transparent, regulated exchange.

Controversies the exchange has experienced

In 2021, HCoin was accused of insider trading. Some users accused HCoin of giving preferential treatment to certain users, allowing them to trade ahead of the market and make profits. HCoin denied the allegations, but the controversy led to further declines in the price of HCoin.

In 2020, HCoin was hacked. The hackers stole over $200 million worth of cryptocurrency from HCoin's users. HCoin reimbursed its users for the losses, but the hack damaged the company's reputation.

In 2019, HCoin was accused of wash trading. Wash trading is a type of market manipulation where traders buy and sell the same asset to create the illusion of activity and artificially inflate the price. HCoin denied the allegations, but the controversy led to a decline in the price of HCoin.

Conclusion

In conclusion, HCoin presents an array of features, including a diverse range of tradable cryptocurrencies and high liquidity. However, there are certain drawbacks that have drawn criticism, including FinCEN exceeded regulatory status, lack of transparency on its operations and services and handling fees.

Therefore, HCoin does come with certain disadvantages that warrant consideration. It's essential for interested users to do thorough research, carefully evaluating the pros and cons before making a decision.

FAQs

Q: Is HCoin regulated?

A: Yes. It is regulated by FinCEN with exceeded license, numbering at 31000153105573.

Q: How can I contact the customer support team at HCoin?

A: You can contact via email: service@hcoin.com and their Twitter account.

Q: Except for cryptocurrency trading, what kind of other products and services does HCoin offer?

A: HCoin also offers futures trading to traders.

Q: What's the trading fee of HCoin?

A: HCoin charges handling fee ranging 0.1%-0.2%.

HCoin User Review

User 1: I've been using HCoin for a few months now and I'm generally happy with it. The interface is easy to use and the liquidity is good. I've been able to buy and sell the cryptocurrencies I want without any problems. However, I have a few concerns about HCoin. First, the trading fees are a bit high. Second, I'm not sure how secure HCoin is. There have been some reports of hacks in the past. Overall, I think HCoin is a good option for cryptocurrency traders who are looking for a user-friendly platform with good liquidity. However, I would recommend doing your own research before using HCoin, and only investing money that you can afford to lose.

User 2: I've been using HCoin for about a year now and I've had a mixed experience. The interface is easy to use and the selection of cryptocurrencies is good. However, the liquidity is not as good as some other exchanges, and the trading fees are a bit high. I've also had some problems with customer support. I once had a problem with my account and it took several days to get a response from customer support. When I finally did get a response, the solution they provided didn't work. Overall, I think HCoin is a decent exchange, but it's not the best. If you're looking for an exchange with the best liquidity and lowest fees, I would recommend using a different exchange. However, if you're looking for an exchange with a user-friendly interface and a good selection of cryptocurrencies, HCoin is a decent option.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.