No Regulation

Score

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/10

cointree

Australia

|

5-10 years

Suspicious Regulatory License|

Medium potential risk

https://www.cointree.com/

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Influence

A

Influence Index NO.1

Australia 4.62

Better than 98.50% exchange(s)

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No effective regulatory information has been founded yet, please pay attention to the risks!

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Company Name
cointree
Phone of the company
1300 389 414
Company website
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Customer Service Email Address
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WikiBit Risk Alerts

1
Previous Detection 2024-04-17

It has been verified that this Exchange currently has no valid regulation, please be aware of the risk!

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Aspect Information
Company Name Cointree
Registered Country/Area Australia
Founded year 2013
Regulatory Authority Not regulated
Numbers of Cryptocurrencies Available 240+
Fees 0-0.9%
Payment Methods PayID, Online Bank Transfers and physical cash deposits
Customer Support Phone, live chat, social medias, help center

Overview of cointree

Cointree is a virtual currency exchange based in Australia. It was founded in 2013 and is currently under no valid regulations. The platform offers a wide range of cryptocurrencies, with over 240 options available for trading including the most popular Bitcoin and Ethereum.

Cointree has a varied fee structure that is dependent on the type of transaction, ranging from 0 to 0.09%. Users can make deposits and withdrawals using PayID, Online Bank Transfers and physical cash deposits. The exchange also provides customer support through phone (1300 389 414), live chat, help center and social medias such as YouTube, Facebook, Instagram, Twitter and telegram.

Overview of cointree

Pros and Cons

Pros Cons
Wide range of cryptocurrencies available Lack of specific regulatory authority
User-friendly platform No mobile app
Multiple payment methods Varied fee structure

Pros:

- Wide range of cryptocurrencies available: Cointree offers over 240 cryptocurrencies for trading, providing users with a diverse selection to choose from. This allows for greater flexibility and the opportunity to explore different investment options.

- Multiple payment methods: The exchange supports various payment methods, including PayID, Online Bank Transfers and physical cash deposits. This enables users to conveniently deposit and withdraw funds using their preferred method.

- User-friendly platform: Cointree's platform is designed to be accessible and easy to use, making it suitable for individuals new to cryptocurrency trading. The user interface is intuitive, allowing users to navigate and execute trades effortlessly.

Cons:

― Lack of specific regulatory authority: COINEGG's absence of clear regulatory oversight might raise concerns about the platform's adherence to industry standards and user protection measures.

- No mobile app: Cointree does not currently offer a mobile app. This may limit the accessibility and convenience for users who prefer to manage their trades on the go.

- Varied fee structure: Cointree's fee structure varies based on the type of transaction and account types. While this may provide flexibility, it can also make it challenging to anticipate and account for costs. Users should carefully review the fee schedule to understand the potential charges associated with their trading activities.

Regulatory Authority

Cointree operates without any specific regulatory authority, making it an unregulated virtual currency exchange. The disadvantage of unregulated exchanges is that they lack oversight and accountability, which can lead to potential risks for traders. Without regulation, there is a higher likelihood of scams, security breaches, and market manipulation. Additionally, in the event of any issu es or disputes, users may have difficulty seeking legal recourse or protection.

To mitigate the risks associated with unregulated exchanges, it is important for traders to exercise caution and conduct thorough research before engaging with a platform. Here are some suggestions for traders:

1. Research the exchange: Take the time to thoroughly research and understand the exchange's history, reputation, and security measures. Look for user reviews and feedback to gauge the overall satisfaction and trustworthiness of the platform.

2. Security measures: Pay attention to the security measures implemented by the exchange, such as two-factor authentication, cold storage for assets, and regular security audits. Trustworthy exchanges prioritize the safety of user funds.

3. Transparent fees and policies: Ensure that the exchange provides clear and transparent information regarding fees, policies, and procedures. This will help avoid any potential hidden costs and issues related to fund withdrawals.

4. Diversify investments: It is advisable to diversify cryptocurrency investments across multiple exchanges. This reduces the risk of losing all funds in the event of an exchange failure or security breach.

5. Stay updated with regulations: Stay informed about the regulatory landscape surrounding virtual currency exchanges. Changes in regulations or new developments can significantly impact the security and legitimacy of exchanges. Keep an eye on any updates or announcements from regulatory authorities to make informed decisions.

Remember, trading in virtual currencies always carries inherent risks, and it is crucial to exercise caution and due diligence when choosing and using any exchange platform.

Security

Cointree employs several security measures to protect its users and their funds. These measures include:

1. Two-factor authentication (2FA): Cointree implements 2FA, which adds an extra layer of security to the login process. Users are required to provide a second form of verification, usually through a mobile app or email, in addition to their password.

2. Cold storage: The majority of funds held by Cointree are stored in offline cold storage wallets. This helps protect against the risk of hacking and unauthorized access.

3. Encryption: Cointree uses encryption protocols to secure user data and communications. This ensures that sensitive information, such as personal details and transaction data, is safeguarded from potential threats.

It's important to note that while Cointree implements these security measures, no platform is completely immune to risks. Traders should also take personal precautions, such as using strong passwords, keeping software and devices updated, and being cautious of potential phishing attempts. By adopting best practices for online security and staying informed about potential risks, users can enhance their overall security when using Cointree or any other virtual currency exchange.

Cryptocurrencies Available

Cointree offers a wide range of cryptocurrencies for trading, with over 240 options available. This includes popular cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Ripple, and many more. The platform allows users to buy, sell, and trade these cryptocurrencies, providing individuals with opportunities to explore different investment options and participate in the virtual currency market.

Cryptocurrencies Available

Overall, Cointree provides a comprehensive platform that caters to both beginner and experienced cryptocurrency traders. With its diverse range of cryptocurrencies and additional features, users have access to a variety of options and tools to navigate the virtual currency market.

How to Open an Account?

The registration process for Cointree can be summarized in the following steps:

1. Visit the Cointree website and click on the “STAR NOW” button. This will take you to the registration page.

How to Open an Account?

2. Enter your email address and password, and create a unique password for your account. Make sure to choose a strong password to protect your account.

How to Open an Account?

3. Verify your email address by clicking on the verification link sent to your registered email. This step is essential to activate your account.

4. Provide your personal information, including your full name, date of birth, and country of residence. This information is necessary for compliance with regulatory requirements.

5. Complete the identity verification process by submitting a valid form of identification, such as a passport or driver's license. Cointree will review and approve your identification within a period of time.

6. Once your identity has been verified, you can start using your Cointree account to deposit funds, trade cryptocurrencies, and access other features provided by the platform.

Please note that the registration process may vary depending on the jurisdiction and regulatory requirements.

Fees

Account Tier Buy Sell Fee Coin-to-Coin Trade Fee Referral Commission Unlock Threshold Trade Volume (AUD) Threshold or Referrals
Bronze 0.90% 0.25% 30% - -
Silver 0.80% 0.20% 40% $10,000 2
Gold 0.70% 0.15% 50% $50,000 10
Platinum 0.60% 0.10% 60% $200,000 25
Diamond 0.50% 0.05% 70% $1,000,000 50

Deposit Fees:

AUD/Money: No fees for PayID and Online Bank transfers. Physical cash deposits have no specified fee.

Cryptocurrency: No fees for crypto deposits.

Withdrawal Fees:

AUD/Money: No fees to withdraw AUD to your Australian bank account.

Cryptocurrency: Crypto withdrawals incur dynamic network fees determined by the destination network. These fees will be listed on the withdrawal coin page.

Payment Method

Cointree supports multiple payment methods, including PayID, Online Bank Transfers and physical cash deposits . Users can conveniently deposit funds into their Cointree accounts using these payment options. The processing time for each payment method may vary. It's important for users to consider the processing times when depositing funds into their Cointree accounts to ensure that they have the necessary funds available for trading or other activities on the platform.

Educational Resources

Cointree provides a range of educational resources and tools to support users in their cryptocurrency trading journey through a learning hub. These resources include articles, guides, and tutorials that cover various topics related to cryptocurrency trading, blockchain technology, and investment strategies.

Educational Resources

Is cointree a Good Exchange for You?

Cointree is a versatile exchange that caters to a wide range of traders, from beginners to experienced individuals. Here are some trading groups that may find Cointree suitable, along with recommendations for each group:

1. Beginner traders: Cointree's user-friendly platform and extensive educational resources make it an excellent choice for individuals new to cryptocurrency trading. Beginners can take advantage of the educational articles, guides, and tutorials provided by Cointree to gain a solid understanding of the basics. It is recommended that beginner traders start with small investments and gradually increase their trading activities as they gain confidence and experience.

2. Long-term investors: Cointree's diverse range of cryptocurrencies and ability to set up recurring purchases make it an ideal platform for long-term investors. Traders looking to hold onto their investments for an extended period can utilize the recurring purchase feature to automate their investment strategy and consistently accumulate cryptocurrencies over time. It is important for long-term investors to conduct thorough research and select cryptocurrencies with strong fundamentals and growth potential.

3. Risk-averse traders: These traders can take advantage of Cointree's cold storage wallets, encrypted communications, enhance their security. It is recommended that risk-averse traders diversify their portfolio by investing in a mix of established cryptocurrencies and projects with solid reputations.

4. Traders seeking convenience and ease of use: Cointree's intuitive user interface and multiple payment methods make it suitable for traders who prioritize convenience and ease of use. The platform supports various payment options, allowing users to deposit and withdraw funds using their preferred method. It is suggested that traders in this group explore the different payment methods available and choose the one that aligns with their preferences and requirements.

5. Traders interested in altcoins: Cointree's wide range of available cryptocurrencies includes numerous altcoins, offering opportunities for traders interested in exploring alternative investment options. These traders can utilize Cointree's platform to diversify their holdings and potentially capitalize on the growth of lesser-known projects. It is important for traders interested in altcoins to conduct thorough research and analysis to understand the unique features, potential risks, and market dynamics of individual altcoins.

Regardless of the trading group, it is recommended that traders carefully review Cointree's fee structure, stay informed about market trends and news, and develop a solid risk management strategy. By taking these factors into consideration, traders can maximize their experience on the Cointree exchange and potentially achieve their trading goals.

FAQs

Q: What are the different payment methods supported by Cointree?

A: Cointree supports various payment options, including bank transfers, POLi, PayID, and BPAY, providing users with convenient ways to deposit funds into their accounts.

Q: Can I automate my cryptocurrency investments on Cointree?

A: Yes, Cointree allows users to set up recurring purchases, enabling them to automate their investment strategy and regularly invest in cryptocurrencies.

Q: What cryptocurrencies can I trade on Cointree?

A: Cointree offers over 240 cryptocurrencies for trading, including popular options such as Bitcoin, Ethereum, Litecoin, and Ripple, providing users with a diverse range of options to explore in the virtual currency market.

Q: Is Cointree suitable for beginner traders?

A: Yes, Cointree's user-friendly platform and educational resources make it suitable for beginners. The platform provides articles, guides, and tutorials to help new traders navigate the complexities of cryptocurrency trading.

Q: Can I store my cryptocurrencies on Cointree?

A: Yes, Cointree provides a secure cold wallet for users to store their cryptocurrencies, offering added convenience and peace of mind.

Q: What should risk-averse traders consider on Cointree?

A: Risk-averse traders can benefit from Cointree's security measures and diverse range of established cryptocurrencies. It is recommended for them to diversify their portfolio and conduct thorough research on selected cryptocurrencies.

Q: What advantages does Cointree offer for traders interested in altcoins?

A: Cointree offers a wide range of altcoins, providing opportunities for traders interested in exploring alternative investment options. Traders in this group can diversify their holdings and potentially capitalize on the growth of lesser-known projects.

User Review

User 1: I've been using Cointree for a while now, and I must say, their security measures are top-notch. I feel confident in trading on their platform, knowing that they have cold storage wallets and encryption in place to protect my funds and personal information. Their regulated status also gives me peace of mind, knowing that they adhere to anti-money laundering and counter-terrorism financing laws. The interface is user-friendly and easy to navigate, making it simple for me to buy and sell cryptocurrencies. They offer a good selection of cryptocurrencies, which is great for diversifying my investments. However, I did have a minor issue with customer support response time. Overall, I'm satisfied with Cointree's security, regulation, interface, and range of cryptocurrencies.

User 2: Cointree is my go-to exchange because of their excellent customer support. Whenever I have a question or encounter an issue, their support team is quick to respond and provide helpful solutions. The trading fees are reasonable, and the liquidity is generally good, allowing me to execute trades efficiently. I appreciate their strict focus on privacy and data protection, as they prioritize keeping my information secure. The deposit and withdrawal speed is generally fast, ensuring that I can easily access and manage my funds. They offer various order types, which gives me flexibility in executing my trading strategies. However, I sometimes experience minor interface glitches that can be a bit annoying. Overall, Cointree proves to be a reliable exchange with great customer support, competitive fees, and strong privacy measures.

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.