Coinhub crypto exchange was launched in July 2021 to serve residents of Asia and Mongolia in particular. The exchange is in control of about 80% share of the local trading volume.
The exchange is supported in many countries all over the world, and there is no indication of it being banned in some countries. However, it is advisable for you to be familiar with the laws of your country when it comes to crypto trading. In terms of KYC requirements, all users must verify their identity using government-issued identification cards. This increases access to the service and prevents cases of money laundering or the financing of terrorist activities.
Markets
The platform is dominated by Mongolian Tugrik (MNT). The MNT market is the only market available for trading. All trades are carried out on the Coinhub spot trading option. The platform does not support margin or leveraged trading. There are over 29 Coinhub trading pairs available for users to choose from. Additionally, major cryptocurrencies like Bitcoin, Ethereum, Bitcoin Cash, Ripple, and others are supported for trading on the platform.
Coinhub exchange fees for takers are 0.25% and 0.20% for maker trades. For deposits, the Coinhub crypto exchange does not charge. However, there are minimum amounts that must be deposited and no maximum amounts. The minimum Coinhub crypto price for BTC deposits is 0.0002, while ETH deposits have a minimum of 0.005 ETH. In terms of withdrawals, the Coinhub crypto fee for BTC withdrawals is 0.0008 BTC, while there is a 1% fee on all MNT withdrawals. Besides, the platform accepts both fiat and crypto deposits, so this makes it easy for users to carry out their transactions.
The native token of Coinhub is CHB. This token serves as the utility token of the platform and grants discounts and rebates to its holders. Staking the CHB token gives access to rewards of up to 12 APY. Though users can stake USDT as well and earn up to 10% per year in profits. Besides, the platform gives weekly rewards to CHB holders without them needing to stake their tokens.
About the Company
Coinhub cryptocurrency exchange was founded by Battulga Otgonbaatar in 2021. He is a decentralized finance enthusiast passionate about building the DeFi economy and increasing its adoption in Asia. Before starting Coinhub, he was the Head of Business Transformation at Khan Bank, one of the foremost banks in Mongolia. He has been listed on the Forbes 30 under 30 list – a platform that celebrates budding entrepreneurs building wonderful solutions for the world.
The management team consists of young professionals with banking/finance, capital markets, IT, marketing, and business backgrounds. They are backed by experienced advisors from Japan, the USA, and Mongolia, who have immense knowledge about token issuance, global expansion, compliance, and governance.
The platform is insured against losses with up to $30 million reserved as insurance. Taking into context the Coinhub trade volume of $1.3 million, the amount is very sufficient to guard against any loss that may come from system breaches.
In terms of its corporate responsibility, Coinhub crypto exchange is helping children in various ways. One of the projects that have been implemented is instilling financial literacy in younger children in cooperation with an education tech start-up.
