Regulated

Score

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/10

CoinZoom

United States

|

5-10 years

MTL License|

Digital Currency License|

MSB License|

Suspicious Overrun|

Medium potential risk

https://www.coinzoom.com/

Website

Rating Index
Influence

Influence

A

Influence Index NO.1

United States 3.81

Better than 99.79% exchange(s)

Biz Area

Search Statistics

Advertising

Social Media Index

Influence
A

Licenses

NMLS

NMLSRegulated

MTL License

DFI

DFIRegulated

Digital Currency License

FinCEN

FinCENExceeded

MSB License

BMA

BMAExceeded

Digital Currency License

Exchange Info

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Company Name
CoinZoom
Phone of the company
--
Customer Service Email Address
--

WikiBit Risk Alerts

2
Previous Detection 2024-04-21

Digital Currency License goes beyond their business with the licenses Bermuda BMA (license number: 202201103), please be aware of the risk!

MSB License goes beyond their business with the licenses United States FinCEN (license number: 31000205754157), please be aware of the risk!

Website

Genealogy

Social Media

Trade Type

Keywords

Time Machine

White Paper

Related Software

Github

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New Arrival

Vol Stat

Influence

Yesterday Vol

7 Days

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User Reviews

More

41 ratings

Participate in evaluation
Lala27
So many, complaint in CoinZoom. DYOR before use.
2023-10-19 15:18
4
jazziejai
needs improvement hard to navigate.
2023-10-10 08:01
2
Dexter 4856
Coinzoom,is difficult to understand ..not reliable exchange..
2023-11-05 03:15
6
Scarletc
Coinzoom company aims to offer a user-friendly experience with features like fiat-to-crypto trading, a mobile app, and additional services.
2023-11-20 22:53
4
Chairman3231
Coinzoom is simple and easy to access, wishes for more improvement.
2023-12-26 21:42
2
Precious Andy
Unlike other platforms I love buying my cryptocurrencies from coinzoom cause the never tell me and I have been use this platform to trade for some month now and I can say boldly is the best.
2023-11-24 16:17
2
emma7756
The exchange's commitment to compliance and regulation is commendable and instills trust.
2023-12-29 02:30
4
Precious Andy
coinzoom is really a reliable platform trading with is really great
2023-11-28 04:54
9
Dexter 4856
Coinzoom need improvement.althougt the navigation is friendly..
2023-11-26 04:36
5
Kenny wise
coinzoom is one of the best platform for buying and selling of your cryptocurencies it has low fees and easy to run.
2023-11-25 10:22
8
Teemi
coinzoom is very good, I have used it for so long and it's very accessible. life is incomplete without crypto and this is the best token
2023-11-24 22:12
9
Gentle Tommy
Really good crypto trading app! I was skeptical at first of using an app that is fairly new.but it has met exceeded all my expectations.
2023-11-24 16:14
4
Teemi
coinzoom was complained about but me myself I don't see anything wrong with it coz it's also like the other token which are safe, reliable and secure
2023-11-27 13:50
2
Teemi
coinzoom is easy to use with fast network process, even if it's hard to navigate it's more efficient than other exchange
2023-11-03 01:11
5
dayo1320
Special promotions and bonuses add excitement to the trading experience. It's great to be rewarded for loyalty and active participation.
2023-12-28 01:47
2
catherine321
The user interface is clean and straightforward, making navigation a breeze.
2023-12-28 00:08
5
selim5140
As a beginner, I was worried about getting overwhelmed, but this exchange has a welcoming vibe. The tutorials and community make learning about crypto fun.
2023-12-24 09:30
9
cahgo
Being a newbie, I was worried about making mistakes, but this platform's support team is so patient and helpful. Big thumbs up!
2023-12-24 02:07
9
daniel611
Appreciate the leverage options available. It's great for maximizing gains in a volatile market.
2023-12-28 01:57
2
FX patricia
The mobile app is my trading companion. It's intuitive, responsive, and allows me to manage my portfolio on the go. Perfect for the modern crypto trader.
2023-12-27 01:17
3

View all comments

Aspect Information
Company Name CoinZoom
Registered Country/Area United States
Founded Year 2017
Regulatory Authority NMLS, DFI, FinCEN (Exceeded), BMA (Exceeded)
Cryptocurrencies offered 29
Deposit & Withdrawal ACH, Wire, Debit/Credit Card, CoinZoom, Cash
Fees Maker: 0.18%-0.36%; Taker: 0.22%-0.44%
Customer Support Address: 4640 S Holladay Village Plaza, Suite 206, Salt Lake City, UT 84117; live chat; Phone: 1-888-355-1924; FAQ; ticket

Overview of CoinZoom

CoinZoom is a virtual currency exchange platform that was founded in 2017. It is registered in the United States and operates under various state regulatory licenses. The company offers a wide range of cryptocurrencies for trading, including Bitcoin, Ethereum, Chainlink, Litecoin, and more.

CoinZoom-home-page

Pros and cons

Pros Cons
Variety of Services Trading fees charged
Security Measures
Regulatory Compliance
Wide Cryptocurrency Selection

Pros:

Variety of Services: CoinZoom offers a broad range of services such as CoinZoom Commerce for businesses to handle payments, ZoomMe for peer-to-peer transfers, and a Crypto Visa card, giving customers diverse options for crypto transactions.

Security Measures: CoinZoom places a strong emphasis on security with multi-factor authentication, cold storage, and insurance on stored assets.

Regulatory Compliance: It is registered and regulated by multiple U.S. authorities, which lends credibility and reliability.

Wide Cryptocurrency Selection: CoinZoom offers a range of popular cryptocurrencies, allowing users to diversify their portfolios.

    Cons:

    Fees: One downside could be the fees involved in certain operations. For instance, trading fees charged for make and taker, and CoinZoom Cash has a fee of 5% for deposits, and withdrawals involve certain costs.

      Regulatory Authority

      CoinZoom operates under the regulation of various regulatory agencies. The regulatory agencies involved in overseeing CoinZoom include the Nationwide Multistate Licensing System (NMLS), the Washington State Department of Financial Institutions (DFI), the Financial Crimes Enforcement Network (FinCEN), and the Bermuda Monetary Authority (BMA).

      The Regulation Number for CoinZoom in the NMLS is 1735216, and it is designated as a regulated platform. The license type for CoinZoom in the NMLS is the MTL License, and the license name is CoinZoom, Inc.

      regulated-NMLS-license

      CoinZoom is also regulated by the DFI, with the same Regulation Number of 1735216. It is designated as a regulated platform under the Digital Currency License, and the license name is CoinZoom Inc.

      regulated-DFI-license

      The Financial Crimes Enforcement Network (FinCEN) regulates CoinZoom, with a Regulation Number of 31000160686786. However, it is important to note that CoinZoom has exceeded the requirements of regulation by FinCEN. CoinZoom holds an MSB License under the name CoinZoom, Inc.

      exceeded-FinCEN-license

      Finally, CoinZoom is regulated by the Bermuda Monetary Authority (BMA) with a Regulation Number of 202201103. Similar to FinCEN, CoinZoom has exceeded the requirements of regulation by the BMA. CoinZoom holds a Digital Currency License under the name CoinZoom (Global) Ltd.

      exceeded-BMA-license

      These regulatory agencies play a crucial role in ensuring the compliance and regulatory status of CoinZoom, providing users with confidence in the platform's legitimacy and adherence to industry standards.

      Security

      CoinZoom places a strong emphasis on the security of its users' assets by providing robust multi-layer security protections.

      It features multi-factor authentication, a crucial measure requiring users to provide multiple verifications before accessing their accounts, thus increasing account security.

      A significant portion of users' assets are held in cold storage, managed by Institutional Qualified Custodians, further enhancing security.

      Additional layer of protection is provided by the insurance taken by their qualified custodian, safeguarding assets up to $100 million.

      The use of multi-signature wallets adds to the security measures, as multiple approvals are required for transactions.

      Furthermore, the platform allows account-level security controls and sends notifications to users, making the account management more transparent and secure.

      Security

      Trading Market

      Cryptos

      On CoinZoom, users have access to 29 popular cryptocurrencies for trading. Some of the cryptocurrencies available include Bitcoin, Ethereum, Chainlink, Litecoin, and more. The availability of these cryptocurrencies allows users to diversify their virtual currency holdings and take advantage of price fluctuations in the market.

      Cryptocurrency price fluctuations on exchanges are a common occurrence and can be influenced by various factors such as market demand, investor sentiment, and regulatory developments. It is important for users to closely monitor these price fluctuations and make informed trading decisions.

      Services

      In addition to its core offering of crypto trading, CoinZoom provides a range of value-added services designed to enhance user experience and financial flexibility.

      The platform features a proprietary service called ZoomMe, a free and instantaneous money transfer solution that enables users to send and receive funds globally, at any time. Regardless of the distance - be it across the room or across the world, what you send is precisely what the recipient gets, directly enhancing the transfer efficiency.

      ZoomMe

      Furthermore, CoinZoom also offers a Crypto Visa debit card, which allows users to spend their USD or crypto balance at more than 53 million merchants worldwide. The unique proposition of this service is that users can earn up to 5% back in ZOOM, CoinZooms native token, with every card swipe.

       Crypto Visa debit card

      CoinZoom Commerce is a global solution allowing businesses to instantly and freely pay and accept payments in both fiat and cryptocurrencies, serving as a versatile financial facilitator for companies, its suppliers, customers, employees, and distributors.

      CoinZoom Commerce

      CoinZoom Cash is a quick funding service, allowing users to load up to $999 into their CoinZoom account from numerous retail locations. After funding, users can purchase Bitcoin or other top coins at a low 5% fee, much less than the high fees at Bitcoin ATMs.

      CoinZoom Cash

      CoinZoom® App

      CoinZoom is a comprehensive cryptocurrency management platform that caters to both beginners and experts in the crypto world. It provides users with the functionality to send, spend, save, and invest in various cryptocurrencies through a secure and trusted interface.

      The web-based CoinZoom app, available for download on iOS and Android platforms, makes managing and transacting in crypto assets convenient and user-friendly, enabling users to carry their digital portfolio wherever they go. It positions itself as a reliable tool in the fast-paced and burgeoning field of cryptocurrency management.

      CoinZoom® App

      How to Open an Account?

      The registration process of CoinZoom is relatively straightforward. Here are the steps:

      • Visit the CoinZoom website and click on the “Get Started” button.

        click-on-the-Get-Started-button
      • 2. Enter your email address and create a password for your account.

        fill-in-personal-details

        3. Provide your personal information, such as your name, date of birth, and address.

        4. Verify your email address by clicking on the verification link sent to your inbox.

        5. Complete the identity verification process by submitting the required documents, such as a valid government-issued ID.

        6. Once your identity is verified, you can start funding your account and trading cryptocurrencies on CoinZoom.

        Fees

        CoinZoom implements a transparent fee structure for its trading services. Here is the detailed information on trading fees and other associated fees:

        Trading Fees:

        - CoinZoom charges trading fees based on a tiered structure, which is determined by the user's trading volume over a 30-day period. The trading fees range from 0.18% to 0.36% for makers and 0.22% to 0.44% for takers.

        - Trading Discounts: If you hold ZOOM tokens in your account AND use ZOOM tokens to pay your trading fees, you can receive up to a 50% Discount on your trading fees.

        Action Fee
        Maker Orders 0.18%-0.36%
        Taker Orders 0.22%-0.44%
        Trading Fees

        Deposit & Withdrawal

        CoinZoom offers multiple deposit and withdrawal methods to provide convenience for users. Here is the detailed information on deposit and withdrawal fees:

        Deposit fees Withdrawal fees
        ACH* Free Not available
        Wire (USD) Free $35 for domestic; $50 for international
        Credit Card Deposits 2.99% /
        Debit Card Deposit 2.99% /
        CoinZoom Cash Deposits 5.00% /
        Zoom Me/Crypto Free $1.50 or 1.50%(whichever is greater)

          *ACH deposits take 3-4 business days to post to your account and are available on the day of deposit for trading, but can't be withdrawn for 7 - 21 days. The maximum transaction amount is $500 - $10,000/day, depending on your staking VIP level. **ACH Reversal Fee $100. ACH withdrawals coming soon.

          Select $500, Preferred $1,000, Gold $2,500, Platinum $5,000, Black $10,000.

          Any funds deposited from your card will be held in your account for 21 days (generally) and up to 90 days (rarely), depending on your financial institution's policies. You can still use these funds to buy and sell crypto currencies but you will not be able to transfer the USD amount or any crypto purchased with those funds out of your account until the hold expires.

          CoinZoom Instant takes only seconds to complete. Customers staking ZOOM at the Gold level receive 1% back in ZOOM tokens, Platinum level staking receives 2% back, and Black level staking receives 3% back for all CoinZoom Instant withdrawals.

          For more fees regarding deposit and withdrawal, you can visit https://www.coinzoom.com/fees-and-limits/#deposit-and-withdrawal-fees for details.

        Is CoinZoom a Good Exchange for you?

        CoinZoom excels in bridging the gap between traditional finance and crypto: seamless cash purchases, Visa debit cards for crypto spending, and beginner-friendly tools make it ideal for newcomers seeking a secure and familiar entry point into the crypto world.

        ACoinZoom's target groups can be categorized into three main segments:

        1. Individual Users: This includes both beginner and expert cryptocurrency users seeking a convenient and accessible platform for managing and transacting cryptocurrencies. Additionally, this group also targets those who desire to have their crypto assets work for them, such as using the CoinZoom® Crypto Visa debit card to make purchases and earn rewards.

        2. Businesses Users: Particularly multinational businesses, are targeted with the CoinZoom Commerce feature, which enables these entities to conduct payments and payouts in both fiat and cryptocurrencies, benefitting from the ease and flexibility of crypto transactions.

        Conclusion

        CoinZoom is a well-regulated cryptocurrency platform based in the United States, offering a comprehensive set of services to individual users, businesses, and investors. Featuring a wide selection of cryptocurrencies, and various innovative services like ZoomMe and CoinZoom Commerce, it facilitates both crypto trading and real-world transactions. CoinZoom positions itself as an accessible platform for people new to the crypto world and a sophisticated tool for experienced users and businesses.

        However, you should always be cautious with crypto trading due to its highly volatile and unpredictable nature.

          Comparison with Other Exchanges:

          Exchanges CoinZoom Huobi Binance
          Suitable Traders Verstatile crypto exchange forboth novice and experienced traders A prominent exchange for advanced traders A top-tier crypto exchange caterting traders of all expertise levels
          Fees 0.15%-0.35% 0.2% 0.012%-0.10%
          Cryptos Available 40+ 700+ 350+
          Website https://coinzoom.com/ https://huobi.com/ https://binance.com/en

          FAQs

          Q: How long does it take to process deposits and withdrawals on CoinZoom?

          A: The processing time for deposits and withdrawals on CoinZoom usually takes 1-3 business days.

          Q: Are there any additional fees or charges on CoinZoom?

          A: CoinZoom uses a maker/taker fee model. For maker orders, you can expect to pay between 0.18%-0.36% per executed transaction. Taker fees range from 0.22% to 0.44%.

          Q: Does CoinZoom offer other services besides of crypt trading?

          A: Yes, CoinZoom also offers services including CoinZoom Cash, CoinZoom Crypto Visa Debit Cards, ZoomMe and CoinZoom Commerce.

          User Review

          User 1:

          Yo, so I've been using CoinZoom for a bit now, and I gotta say, their security game is on point! It's like Fort Knox for my crypto. Plus, they're totally legit with all the regulations stuff, which gives me peace of mind. The interface is slick too – easy peasy to navigate. But sometimes, I've noticed a bit of a lag during peak trading times. They've got a good range of cryptos, but I wish they had more altcoins. When I had a prob, their customer support was quick to respond, so thumbs up for that. The trading fees, though? Meh, a bit steep. All in all, solid choice for a reliable exchange.

          User 2:

          Alright, listen up folks. I've had my share of ups and downs with CoinZoom. Let's start with the good – their liquidity is pretty decent, no complaints there. And the crypto options? Man, it's like a buffet of coins! But hold up, their customer support needs a reality check. It's like talking to a brick wall sometimes. And those trading fees? Don't even get me started. It's like highway robbery, seriously. And privacy? Yeah, right. I've heard rumors about data leaks, so be cautious. Withdrawal speed varies, which is a bummer when you're in a hurry. Stability-wise, they've had a couple of hiccups, nothing major though. So, proceed with caution, peeps.

            Risk Warning

            Cryptocurrency exchange investments come with inherent security risks. It is important to be aware of these risks before engaging in such investments. Cryptocurrency exchanges are susceptible to hacking, fraud, and technical glitches, which can result in the loss of funds. It is recommended to choose reputable and regulated exchanges, stay updated on security measures, and be vigilant in detecting and reporting any suspicious activities.

            Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.