Coinsdrom Review
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Overall Exchange Score
Summary
Coinsdrom offers a secure and user-friendly platform for buying and selling Bitcoin, Ether, and Tether. With strict compliance, transparent fees, and multi-layered security, it’s a solid choice for crypto exchanges, though UK users are restricted by FCA regulations.
About the exchange
Coinsdrom is an authorized cryptocurrency exchange platform promising transparency, efficiency and security when buying and selling digital assets. Using this platform means you can purchase popular coins with a credit/debit card or bank wire in a safe environment.
Additionally, as our Coinsdrom exchange review is about to show, the company is committed to maintaining the highest possible compliance with applicable laws regarding AML, KYC and KYT procedures. Things look promising so far, which is why we want to proceed and see what other benefits could be unlocked.
The exchange process
Let’s begin by analyzing how the actual exchange works and right off the bat, Coinsdrom looks to have designed a user-friendly ecosystem. Buying and selling crypto is accessible to any person out there since it doesn’t require any special knowledge.
As the brand claims, the platform uses a multi-layered security protocol to make the exchange process quick and safe. Upon registering on the website, the first thing to do is pass the verification. Then, you should link your crypto wallet, because Coinsdrom doesn’t store crypto or fiat on customers’ behalf. Once your transaction is settled, the company will send you the tokens through your wallet.
Obviously, you also have to select the cryptocurrency you want to exchange. At the time of writing, Coinsdrom supports Bitcoin, Ethereum and USDT. Lastly, you have to wait for the transaction to be approved. It might take a while depending on what payment method you choose. For instance, a bank wire could take up to a couple of business days, based on your country of residence.
Verification
Since Coinsdrom is an authorized exchange, it greatly emphasizes verification or KYC. There is a dedicated section on their website on this topic, where you can see what documents should be provided, based on the amount you want to exchange.
If the order is between 200 – 5000 EUR, things are pretty simple given you need only proof of identity and selfie liveness verification. There is also a level 2 (orders between 5001 – 75000 EUR) and a level 3 (orders between 75000 and above) which carry more stringent requirements in terms of KYC.
However, most of the users will fall under Level 1, where KYC is fast and smooth. Be aware that verification is mandatory and you won’t be able to proceed to the actual exchange transaction without it.
Security
To ensure optimal security, Coinsdrom is using the latest technologies. These are meant to secure your transactions and keep your data private. Additionally, the exchange operates transparently, with no hidden fees or conditions.
As a registered exchange, headquartered in Vilnius, Lithuania, the company must meet stringent requirements that are meant to protect customers’ interests.
Final thoughts
Summing up, using Coinsdrom looks suited if you want to exchange Bitcoin, Ether or Tether. With a transparent and secure environment, this company stands head and shoulders above most competitors out there. Unfortunately, users from the United Kingdom won’t be allowed to use these services due to the latest regulatory requirements imposed by the FCA.
