CoinMate is a centralized cryptocurrency exchange founded in the Czech Republic. The digital token trading platform was founded in 2014. The platform allows users to buy and sell cryptocurrencies using fiat currencies.
Only a verified personal bank account through BankID can be used as a payment method on the CoinMate crypto exchange. The platform requires users to verify their identity in compliance with AML and KYC requirements. Users may not transact some amount of funds without passing the verification process.
CoinMate is optimized for the European market. While there is generally no restriction on who can sign up with the CoinMate cryptocurrency exchange, the platform does not accept customers from some countries such as the United States.
Coinmate is available on the web platform, which is accessible through a browser on any device. Though it does not have a mobile app.
Markets
CoinMate crypto exchange supports spot trading. CoinMate spot allows users to buy and sell supported digital assets using fiat currencies to make a profit.
The exchange supports crypto-fiat trading. Listed tokens include nine of the most popular cryptocurrencies: BTC, ETH, USDT, SOL, ADA, LTC, XRP, and DASH. The base currencies for CoinMate trading pairs are Euro (EUR) and Czech Koruna (CZK). CoinMate crypto prices are displayed on the platform’s trading interface.
CoinMate crypto exchange offers two interfaces for trading digital assets. Quick Crypto Trading is a web platform designed for the quick purchase and sale of cryptocurrencies for fiat money. Advanced Trading is based on TradingView for spot crypto trading. It supports limit and market orders. Market orders allow users to execute the trade as quickly as possible at the current market price. On the other hand, limit orders allow traders to set maximum or minimum prices for selling or buying a digital asset.
CoinMate exchange fees use the Maker/Taker fee model to boost the liquidity on the platform. CoinMate exchange fees also depend on CoinMate trade volume-based tiers. The lowest tier includes a trading volume of up to 10,000 EUR. This tier attracts 0.35% takers fees and 0.3% makers fees. The highest tier includes 15 million EUR and above trade volume. Users in this tier are charged CoinMate crypto fees of 0.07% for takers, with zero makers fee.
Quick buy or selling of crypto also attracts zero fees. These trades are subject to applicable exchange rates, which are displayed before each trade. CoinMate crypto price for quick trade includes spread and is guaranteed at the time of the trader’s confirmation.
The deposit fee is generally zero, except when transferring Euro through SEPA transfers, which attracts a 1EUR fee. The platform charges withdrawal fees, which depend on the type of currency or digital token the user is dealing with. Withdrawing Bitcoin can be done in two ways: Economically and Priority. Economical withdrawal processes the transaction within 60 minutes and is confirmed within 2 hours. This service charges 0.0002 BTC. Priority transactions are processed within 7 minutes and confirmed within 30 minutes. It attracts a withdrawal fee of 0.0004 BTC.
Other Services
CoinMate cryptocurrency exchange offers ultra-low latency API services that enable users to outsource important data from the platform. Merchants can apply this service to integrate crypto payments on their platforms. The API service also supports Bitcoin ATMs, Mass Payouts, and Payroll. The platform's exchange Java library streamlines the API of more than 50 Bitcoin and Altcoin exchanges.
CoinMate also allows users to set up automated trading bots such as Liquidity making bot, Trending bot, and Arbitrage bot.
Lastly, users can also earn passive income through the platform’s referral program.
About the Company
CoinMate cryptocurrency exchange was founded by Roman Valihrach and Daniel Houška in 2014, becoming the first Czech crypto exchange. Its headquarters are in Prague, Czech Republic.
During the first year of operation (2014), the CoinMate crypto exchange managed to secure permanent clientele. On April 2015, the fully functioning alpha version of CoinMate was released. The platform offered two trading pairs, BTC/EUR, and BTC/CZK. CoinMate experienced rapid growth between 2015 and 2019. They added Ethereum, Bitcoin Cash, Litecoin, Dash, and Ripple during this period. CoinMate trade volume also increased during this time as more users joined the platform.
In 2020, CoinMate volume surpassed 1 billion EUR worth of cryptocurrencies.
In 2021, CoinMate received support for further development from the investment company Miton and its subsidiary Miton C crypto fund.
CoinMate founders Roman Valihrach and Daniel Houška have been active in the cryptocurrency industry for about a decade. In 2013, they attended the first major Bitcoin conference, The Future of Payments held in San Jose, California. They represented their country by selling Pilsner beer for bitcoins.
