An In-Depth Look: Cobinhood Explained for Those Starting Out

CobinHood is an exchange for trading cryptocurrency Cobinhood prides itself on being a cutting-edge cryptocurrency platform, positioned as the pioneer of fee-free crypto exchange services globally.

Popo Chen, a seasoned entrepreneur, launched Cobinhood and serves as its visionary CEO. He astonishingly completed his Master’s in Electrical Engineering by age 22. The platform boasts over five million active participants and has managed to deliver an impressive 20-fold return to initial investors within just a year.

Teaming up with founder is Wei-Ning Huang, the talented CTO. Huang spent three years honing his skills at Google and has over five years in the open-source sphere. His forte lies in crafting extensive web applications demanding peak performance and reliability.

Huang also quickly embraced cryptocurrency trading and devoted five years to refining his skills in this field, developing a deep-seated blockchain expertise. Cobinhood's circle of advisors features notable names like Tony Scott, the U.S. government’s ex-Chief Information Officer, and I-Cheng Liu, once the head honcho at EasyCard.

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Cobinhood Account Creation: Registration and Identity Verification

Creating an account Registering at Cobinhood is relatively hassle-free. Start by selecting ‘Create Account’ on the main page. Complete the form, agree to terms, and authenticate that you’re human before proceeding. After signing up, check your email inbox for a confirmation prompt. Once verified, your account will be active.

Verifying your identity involves visiting the ‘Accounts’ and ‘Limits’ sections, where you'll find details about Level 1 and Level 2 verifications, alongside associated daily caps. Crypto deposits have no daily boundaries. Withdrawal, however, starts at 3 BTC for Level 1 and extends to 100 BTC upon achieving Level 2. Basic verification only needs your email and password for Level 1.

To elevate to Level 2, you'll need to provide a gamut of information: name matching your passport, current address, nationality, a form of ID (like a passport or a local driver’s license), a selfie with your ID, FATCA compliance, and a contact number.

Navigating the Process: How to Access, Add, and Withdraw Your Digital Assets

Upon logging in, go to the screen’s top corner, select ‘Funds,’ and navigate either to the Withdraw or Deposit sections to view your assets, including a comprehensive view of your total, available, and USD-equivalent balances.

Initiate a deposit by clicking on ‘Deposit’ in the ‘Funds’ menu. Select your desired currency and retrieve the requisite wallet address. Ensure the cryptocurrency aligns with the designated address. Withdrawal mirrors this process via the ‘Withdraw’ tab, where you’ll input the specific external address for your tokens and the withdrawal amount prior to hitting ‘Submit.’

How to Trade on Cobinhood

Whether you prefer desktop or on-the-go trading, Cobinhood offers browser-based functionality as well as dedicated mobile apps for both Android and Apple gadgets, ensuring seamless exchange operation on most smartphones and tablets.

To guide traders in making savvy decisions, Cobinhood’s ‘Exchange’ section is a treasure trove of pertinent insights. Here, you’ll find comprehensive graphs detailing chosen cryptocurrency pairs, highlighting peak values and dips. Additionally, historical trade data and order books furnish crucial information.

Logging in reveals the ‘Trade’ section with order specifics like pair types, price, volume, and status. On the opposite side, check your balance, detailing what’s available and the total accumulated amount. Crafting an order is seamless in the top-right corner, with available options like ‘Market,’ ‘Limit,’ or ‘Stop.’ Specify the quantity, observe the price per token, then choose to ‘Buy’ or ‘Sell.’

Switching between cryptocurrency pairs is effortlessly done by selecting ‘Select Product’ from the top-left menu, choosing from categories like BTC, COB, ETH, or USDT. By selecting a tab, you explore available pairs within that category. Choose your desired pair to engage a specialized trading page complete with pertinent details.

The layout for desktops integrates intuitive teal and crimson buttons showing current highest bid prices and the lowest ask prices, respectively. The buttons also compute maximum buy or sell capacities contingent on your available balance.

Exploring the Range of Order Options at Cobinhood

As previously mentioned, Cobinhood provides both market and limit order types. Market orders are optimal for rapid trading, where specifying quantity displays both market price and total order cost. These transactions are executed promptly, precluding cancellations.

Limit orders afford you control over the minimum or maximum trading prices. Specify your order's size and desired price, with the system showing total costs. Fulfillment is based on prevailing conditions, meaning partial fills and price modifications are potential outcomes.

You can prioritize preferred trading pairs by marking them with a star. Access all favorited pairs by clicking the star-adorned tab above the BTC option in the ‘Select Product’ dropdown menu.

One standout feature of Cobinhood is its high-speed order matching system, boasting sub-millisecond processing time while managing a flood of orders. This architecture is resilient, highly distributable, and auto-scalable, promising top-tier trading experiences.

COBINHOOD Fees

Being a trailblazer as the first fee-less crypto exchange, Cobinhood imposes no charges for spot or margin trading, even offering margins with leverage as high as 10x without fees.

Withdrawal fees at Cobinhood support miners directly, without adding to the exchange's revenue. Fee scales adapt with the token type: 0.001 for BTC, $20 for USDT, 0.007 for ETH, approximately $3 for QRC-20 tokens, and about $8.4 for ERC-20 tokens.

Without regular commission charges, Cobinhood’s revenue stemmed from its underwriting service, tapping into 5% of capital amassed during ICOs. Post-ICO earnings derive from further underwriting services for significant projects. like Kyber Engagement in Filecoin-related activities further bolsters revenue through those underwriting avenues.

What are COB Tokens?

Token holders of COB tokens benefit from numerous perks, including halving interest costs on margin loans when paid with COB. They also receive discounted access to COBINHOOD-underwritten ICO tokens. Future plans promise additional privileges for COB holders.

The Details Behind Cobinhood’s Referral Scheme

Cobinhood’s youthful referral program incentivizes user expansion through sign-ups. Introducing new users allows the referrer to collect ten Daily Bonus Draw tickets for a commission, with the potential to win BTC. Referrer and new user rewards apply upon the latter completing Level 2 Identity Verification within their first month.

Bonuses, Airdrops & Free Tokens

An initiative to entice Cobinhood’s use is its Daily Bonus Draw. Completing a successful COBX transaction earns an entry, capped at one entry per day. Prizes are random, with values reaching up to 1 BTC.

Cobinhood’s airdrop initiatives offer participation in its ‘COBINHOOD prized quest,’ with current rounds covering releases like the Bread (BRD) Lottery and LALA World Airdrop-lite. A deeper dive on the airdrop webpage reveals more offerings.

Occasional competitions add excitement, leading to sizeable BRD trading rewards, ranging from 25,000 BRD for top achievers to other prizes. ABT competitions spanning February to March also showcased various engaging challenges, even hosting API development contests with substantial COB prizes.

A Dive into Cobinhood’s Contributions to ICO Underwriting

In addition to functioning as a cryptocurrency exchange Besides hosting in-house ICOs, Cobinhood's underwriting services propose valuable fundraising guidance for budding ICOs. With Cobinhood's expertise, projects have successfully generated 29,400 ETH, equating to about $64 million in today's economy.

The 2019 Overview for Beginners on Cobinhood - Is It a Secure Choice?

Are you contemplating using the Cobinhood Cryptocurrency Exchange and wondering about its safety? Be sure to check out our detailed beginner's guide review to discover all the essential information.

Is Cobinhood Safe?

Cobinhood: A Comprehensive Overview for Newcomers

It positions itself as a pioneering cryptocurrency platform, aiming to revolutionize the market. Cobinhood takes pride in claiming the title of the world's inaugural zero-fee cryptocurrency exchange.

The visionary behind Cobinhood is Popo Chen, who serves as the founder and CEO. As a seasoned entrepreneur, he had already attained a Master's Degree in Electrical Engineering by the remarkable age of 22. This platform boasts a user base exceeding five million active individuals, and it has provided angel investors with an impressive 20-fold return in just a year.

Conclusion

His co-founder, Wei-Ning Huang, serves as Cobinhood's CTO. He's known for his expertise, having garnered experience from working at Google for three years and contributing over five years to the open-source community, particularly in crafting expansive web applications demanding high availability and throughput.

An early entrant into the world of cryptocurrencies, his involvement over five years of trading and a profound comprehension of the blockchain reflect his adeptness. Cobinhood's advisory board includes distinguished individuals such as Tony Scott, the former U.S. Federal Chief Information Officer, and I-Cheng Liu, the previous Chairman of EasyCard.

Guide for Creating and Verifying an Account on Cobinhood

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