About Coinsdrom
Coinsdrom is an online crypto exchange platform serving people from various countries, except for residents in the UK and other restricted areas. It is headquartered in Vilnius, Lithuania and it’s authorized to provide virtual currency services.
Exchanging crypto with this brand could be advantageous because as our Coinsdrom review is about to show, people benefit from compliance, tight security and transparency. If you want to learn more about the company, feel free to read our insightful analysis.
Private Clients
In terms of crypto coverage, Coinsdrom allows customers to either buy or sell Bitcoin, Ethereum and Tether (USDT). One of the key features to highlight is convenience, because, even if you don’t know how to buy BTC online, the exchange provides comprehensive instructions, free of charge.
Additionally, Coinsdrom claims to work with reputable liquidity providers to ensure people gain access to the best market rates. In terms of the actual exchange process, you should keep in mind that due to regulation, the company can’t store fiat or crypto on customers’ behalf.
When purchasing crypto, you pay with a debit/card or bank wire and as soon as Coinsdrom receives your payment, it will complete the exchange and send the tokens to the wallet address you initially provided. Conversely, the process is similar when you want to sell crypto, this time the difference is that you will receive fiat.
KYC
Coinsdrom ranks its users on three levels, depending on the amount they want to exchange on the platform. This has implications for KYC, so we want to discuss this matter as well. Level 1 users are those who wish to exchange between 200 EUR and 5000 EUR. KYC is simple in this case, requiring proof of identity and selfie liveness verification.
Level 2 users are those who want to place orders worth 5,001 EUR – 75,000 EUR. On top of the documents from Level 1, proof of address and Form 501 will be necessary as well.
Lastly, Level 3 is meant for users with orders larger than 75,001. The above-mentioned documents will have to be accompanied by Form 502, source of funds evidence and video call verification.
Support
This looks to be a convenient brand in terms of customer support as well. Coinsdrom agents are available even via live chat during working hours, which is great since you can get a reply pretty fast. Email and phone support are also part of the mix.
Users who fancy this exchange can also learn more about the crypto space by reading blog posts offered by Coinsdrom for free. We noticed they also offer YouTube videos on how to register for an account and how to complete KYC.
Summary
Coinsdrom is an authorized exchange centered around customer needs. Security is emphasized and when using this brand, you are in full control of your funds. It simply acts as a gateway to the market and once the transaction is completed, you will get the coins in your wallet. We think that as a compliant exchange, Coinsdrom holds a competitive advantage.