Common Financial Service License
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The number of the negative comments received by WikiBit have reached 15 for this Exchange in the past 3 months, please be aware of the risk and the potential scam!
Common Financial Service License goes beyond their business with the licenses Canada FINTRAC (license number: M20648695), please be aware of the risk!
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|⭐Trading Fees||0.15% for the taker and 0.08% for the maker|
|⭐24-hour trading volume||$269 million|
|⭐Customer Support||Email, Social Media|
CoinTiger is a cryptocurrency exchange that started in 2017 and is based in Singapore. Currently, they've got more than 337 different cryptocurrencies available for trading. In a single day, they handle trading worth about $269 million. If you're making a trade, they charge you 0.15%, but if you're the one kickstarting the trade, it's a bit less at 0.08%%.
COINTIGER excels in these areas:
With a diverse selection, the platform boasts a listing of over 330 different coins.
Enjoy cost-effective trading with consistently low fees.
Access the markets seamlessly through a user-friendly mobile app designed for easy navigation.
Explore the potential for higher returns with leveraged futures contracts that the platform offers.
The opportunity of crypto staking to earn rewards.
Benefit from the advantageous feature of high liquidity.
Experience the convenience of reasonable withdrawal fees that won't burden your overall trading costs.
COINTIGER lacks in these areas:
Users have access to only a restricted range of customer support options.
The regulatory framework appears weak, as indicated by licenses with an “Exceeded” status.
The exchange's tutorial and support section is noticeably limited, potentially affecting users' learning experiences
|Over 330 coins listed||Limited tutorial and support section|
|Low trading fees||Limited customer support options|
|User-friendly mobile app||Weak regulation, licenses with “Exceeded” status|
|Leveraged futures contracts offered|
|Crypto staking available|
|Reasonable withdrawal fees|
COINTIGER Technologies Ltd. holds a Common Financial Service License issued by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), and the regulatory status is marked as “Exceeded”. FINTRAC, or the Financial Transactions and Reports Analysis Centre of Canada, is a government agency responsible for detecting, preventing, and deterring money laundering and terrorist financing in Canada. It was created in 2000 under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act.
CoinTiger Corp. holds an MSB License issued by the Financial Crimes Enforcement Network (FinCEN), with the same regulatory status as the license above, marked as “ Exceeded” .The Financial Crimes Enforcement Network (FinCEN) is a bureau within the United States Department of the Treasury that collects and analyzes information about financial transactions in order to combat domestic and international money laundering, terrorist financing, and other financial crimes.
CoinTiger teamed up with several partners specializing in smart contract auditing and network security. These partners include Chaitin Tech, SECBIT, KNOWNSEC.COM, Lianan.org, and John Wick Security Lab. All these collaborations are focused on safeguarding the cryptocurrency assets of the platform's users.
According to CoinMarketCap, CoinTiger currently lists over 337 cryptocurrencies. The exchange has been adding new coins at a relatively fast pace in recent months. In the past 6 months, CoinTiger has added over 100 new coins.
The registration process of COINTIGER is straightforward and can be completed in a few simple steps. Here is a step-by-step guide:
1. Visit the COINTIGER website and click on the “Register” button.
2. Fill out the registration form with your email address, password, and any other required information.
3. Agree to the terms and conditions of COINTIGER.
4. Verify your email address by clicking on the verification link sent to your inbox.
5. Complete the KYC (Know Your Customer) process by providing necessary identification documents, such as a passport or driver's license.
6. Once your account is verified, you can start trading and depositing funds into your COINTIGER account.
Please note that the registration process may vary slightly depending on the platform's current requirements and policies. It is important to carefully read and follow the instructions provided by COINTIGER during registration.
Cointiger applies a fixed 0.15% fee for takers and 0.08% for makers on spot trades. For futures trading, the fee is 0.025% for makers and 0.07% for takers. They introduced a VIP system in July 2021 that rewards traders with tiered discounts based on their trading volume within a certain timeframe. The table below shows the VIP levels and their corresponding reduced rates:
|Level||7-Day Average Spot Trade Volume||30-Day Average Spot Trade Volume||Spot Maker Fee||Spot Taker Fee||Futures Maker Fee||Futures Taker Fee|
|VIP 4||50,000 - 1,500,000||1500,000||0.06%||0.11%||0.021%||0.050%|
COINTIGER only supports deposits and withdrawals for cryptocurrencies. They do allow fiat currencies like United States Dollars (USD), Vietnamese Dollars (VND), Australian Dollars (AUD), Bulgarian Lev (BGL), Canadian Dollars (CAD), and Brazilian Real (BRL), but you can only buy USDT and BitCNY directly using fiat.
To put crypto into your COINTIGER account, you can transfer it from your own wallets or other exchanges. Similarly, you can take your crypto out of COINTIGER by moving it to your personal wallets or other exchanges.
How fast this all happens can change based on network traffic and which crypto you're using. In general, these crypto transactions get processed quickly, usually within minutes. Just keep in mind that during busy times, it could take a bit longer.
When it comes to depositing crypto, there are two main ways. First, you can go through blocks and pay deposit fees, which is a common process in the crypto world. The other way is through Bixin Pay, a crypto wallet. This second way is fast and free, but you need to first deposit those assets into a Bixin wallet.
Also, it's good to know that COINTIGER charges different withdrawal fees for different coins.
Cointiger has a customer support chat available all the time, but it seems to be handled by bots instead of real people, which isn't very helpful. They also have how-to guides and articles in the Help Section that cover common questions.
COINTIGER may be a good exchange for traders in the following types:
Traders who want to explore a large selection of coins listed.
Traders who prioritize lower trading fees.
Traders who pursue a exchchange that was not hacked in the past.
|Trading Fees||0.15% for the taker and 0.08% for the maker||Maker: 0.04%, Taker: 0.075%||Maker: 0.05% - 0.1%, Taker: 0.1% - 0.5%||Up to 0.40% maker fee and up to 0.60% for taker fee|
|Regulation||Regulated by FINTRAC( Exceeded）||Regulated by NMLS, MAS/FinCEN (Exceeded)||Regulated by FSA ( Japan), NMLS, CSSF, DFI, NYSDFS||Regulated by NMLS , FCA, NYSDFS, SEC (Exceeded), FINTRAC (Exceeded)|
August 18, 2023
“Cointiger's got a heap of crypto choices, which is cool. But I've gotta say, their customer support was a bit of a letdown. That chatbot thingy is a pain – no real human to talk to. Also, the trading fees felt a bit steep for my liking. On the plus side, the interface is pretty straightforward. But here's the catch – while they say they've got strong security, the lack of clear info on regulations and privacy stuff left me unsure. I'd say there's room for improvement on those fronts.”
August 22, 2021
“Had a go at Cointiger recently and I'm in two minds. On one hand, they've got a load of cryptocurrencies to pick from, which is a plus. But then again, the site's stability had a couple of hiccups during high-activity times. The trading fees are alright, not too bad. The deposit and withdrawal speeds surprised me – pretty quick, I must admit. I tried their customer support too. The chatbot was a bit of a miss, but their how-to guides were somewhat helpful. I'd say it's got potential, just needs some tweaks.”
In summary, COINTIGER offers over 330 coins and a user-friendly app. It features low trading fees and reasonable withdrawal costs. You can also explore leveraged futures and crypto staking. However, customer support and educational resources are limited. The platform's weak regulation and exceeded licenses raise concerns. Consider these aspects before using COINTIGER.
Q: What is the fiat trading fee？
A: No fiat trading fee for now.
Q: Could CNY be used for buying LTC(other coins)？
A: COINTIGER only provide BTC\USDT\BitCNY for fiat trading.
Q: How to pay when buying tokens in fiat trading？
A: You need to pay the merchants in the way they provides, such as online banks, mobile bank, Alipay, WeChat, or other third-party payment platforms. Please click 'paid' in the order details after finishing the payment.
Q: What is the trading fee of COINTIGER？
A: The trading fee is 0.15% for the taker and 0.08% for the maker.
Q: What is a stop-limit order？
A: A stop-limit order is a market order that has both a stop price and a limit price. When the stop price is reached, it triggers the limit order. The limit price is the specific price of the limit order the stop price triggers.
Cryptocurrency 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.