Top Cryptos

CoinZoom Review 2024

In CoinZoom review article, we provide a clear and objective overview of CoinZoom cryptocurrency exchange platform. 

We analyze its key features, services, what sets it apart, and its CoinZoom limits. This will help you understand whether CoinZoom is the right choice for your cryptocurrency needs.

Table of content

CoinZoom Exchange Pros & Cons

CoinZoom offers various features and services for different user needs. Here's a brief overview of its pros and cons:

Pros

Wide Range of Products: Offers various financial products and services globally.

CoinZoom Visa Card: Allows real-time trade analysis and cryptocurrency withdrawals.

ZoomMe Service: Free global peer-to-peer remittance service.

Zoom Token Benefits: Perks for holding Zoom Tokens, including fee discounts.

Regulatory Compliance and Security: Compliant with U.S. regulations, offering FDIC insurance.

Cold Storage for Assets: The majority of assets are securely stored offline.

Advanced Analytics: Technical analysis tools for crypto and market trends.

✅ Accessible Mobile App: Simplifies trading, transferring, earning interest, and spending crypto.

coinzoom-exchange-wallet-app-review-pros-cons

Cons

Fee Structure: Potentially higher maker/taker fees and additional charges for certain transactions.

Card Availability and Holding Period: Requirement to earn ZOOM tokens for the Visa card; holding period for funds from card deposits.

Limited Withdrawal Options: Restrictions on withdrawals for ACH deposits.

High Fees for Certain Deposit Methods: Relatively high fees for CoinZoom Cash deposits.

Understanding CoinZoom exchange

CoinZoom is an ideal choice for cryptocurrency enthusiasts looking for a platform that offers a wide array of financial products. Founded in 2018 by Todd Crosland and headquartered in Salt Lake City, Utah, CoinZoom has grown significantly since its inception. 

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As a cryptocurrency exchange, it caters to users in over 192 countries, offering various financial products tailored to each customer's home country.

One of the standout features of CoinZoom is its Visa card, the CoinZoom Card, which allows for real-time trade analysis and strategies using its advanced algorithm. This feature is of premium quality.

Additionally, the platform enables investors to conduct peer-to-peer transactions through the ZoomMe remittance service.

Furthermore, CoinZoom crypto exchange has introduced its digital token, the Zoom Token. Holding this token provides users with extra perks, including fee discounts and access to exclusive VIP programs.

As a fully legal entity, CoinZoom is recognized by the Financial Crimes Enforcement Network as a “registered money services business,” ensuring a safe and reliable platform for investors to engage in cryptocurrency transactions.

CoinZoom Platform Features

CoinZoom, as detailed on its official website, provides a range of services and features to its users:

✔️ Buying and Selling Cryptocurrencies: Users have the opportunity to trade in various top-rated cryptocurrencies, such as Bitcoin, Ethereum, Ripple, ZCash, and others, instead of using traditional fiat currency.

✔️ Crypto Debit – The CoinZoom Visa Card: This card allows users to withdraw cryptocurrency from their accounts at over 53 locations supporting Visa cards. There are five tiers of the CoinZoom Visa Card, ranging from Select to Black, each offering increasing withdrawal capacities.

However, these cards are not automatically provided; users must earn a specific amount of ZOOM tokens to request one. Benefits of having a CoinZoom Visa card include trading fee discounts and additional cashback, with offers such as 50% trading fee discounts and 5% cashback for Black cardholders.

✔️ ZoomMe: CoinZoom’s own peer-to-peer transfer and remittance service, ZoomMe, allows the free transfer of Bitcoins and fiat currencies. It allows users to send money and Bitcoin to friends and merchants worldwide, with a daily spending CoinZoom limit of up to $10,000.

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✔️ Deep Liquidity: CoinZoom boasts a vast network of market policy strategists, providing investment advice, over-the-counter transaction trading desks, and proprietary stock trading pairs. This service caters to both retail and institutional clients.

✔️ CoinZoom Staking: Users can earn passive income through CoinZoom's utility tokens, such as DASH and ALGORAND, without liquidating their digital assets or funds. Staking capital in the exchange can yield rewards and bonus funds, with bonuses ranging from 7 to 13%.

✔️ Advanced Analytics: CoinZoom offers advanced analytics to aid clients in making informed decisions about staking their assets for maximum profit. This service includes a technical crypto and market trends analysis in an easily understandable chart format.

How to Use CoinZoom?

CoinZoom provides a fast and affordable way for users to add cash to their accounts and buy cryptocurrencies. This is particularly beneficial for those who want to avoid the higher fees of Bitcoin ATMs.

How It Works?

  1. Download the CoinZoom App.
  2. Set up your CoinZoom account.
  3. Log in to your account.
  4. Tap “Wallet, choose “Deposit” and select CoinZoom Cash.
  5. Select the retailer most convenient for you – generate a barcode.
  6. Activate the barcode for the cashier to scan when you arrive at the retailer. Pay your cash, and the money is instantly in your account.
  7. Buy crypto.

CoinZoom Cash vs. Crypto ATM

CoinZoom Cash offers a more efficient and cost-effective alternative to Crypto ATMs. It charges one of the lowest fees in the market, only 5%, compared to the high fees of up to 25% at Bitcoin ATMs. 

Transactions with Coin Zoom crypto Cash are instant, while Bitcoin ATMs can have delays of up to 50 minutes. Also, users get real-time crypto exchange prices with CoinZoom Cash, avoiding the 13-20% loss of crypto value often experienced at ATMs. 

Additionally, CoinZoom Cash is available at thousands of retail locations, with this number continually increasing.

Available Cryptocurrencies 

CoinZoom provides its users with a diverse selection of over 40 digital currencies for purchasing, selling, and trading. 

Some of the cryptocurrencies available include:

available-cryptucurrency-coinzoom-limits

✔️ Aave (AAVE): Aave is a decentralized finance protocol that allows people to lend and borrow crypto. Users can earn interest on the cryptocurrency they lend and borrow against it.

✔️ Bitcoin (BTC): The pioneer of cryptocurrencies, Bitcoin is the first and most well-known digital currency. It's often referred to as digital gold and is considered by many as a store of value in the cryptocurrency space.

✔️ Chainlink (LINK): Chainlink is a decentralized oracle network that aims to connect smart contracts with data from the real world. It is a key player in the DeFi space, enabling blockchains to interact with external data feeds.

✔️ Dogecoin (DOGE): Initially started as a joke based on a popular meme, Dogecoin has gained a massive following and has been used for tipping and charitable donations. It's known for its vibrant community and has been endorsed by high-profile personalities like Elon Musk.

✔️ Ethereum (ETH): Ethereum is a decentralized platform that enables smart contracts and decentralized applications (DApps) to be built and run without downtime, fraud, control, or interference from a third party. Its native currency, Ether, is used to power these applications.

✔️ Litecoin (LTC): Often referred to as the silver to Bitcoin's gold, Litecoin is a peer-to-peer cryptocurrency that aims to provide fast and low-cost transactions.

✔️ Ripple (XRP): Ripple is both a platform and a currency. The Ripple platform is an open-source protocol that allows fast and cheap transactions.

✔️ Cardano (ADA): With a research-driven approach and a commitment to security and sustainability, Cardano is a proof-of-stake blockchain platform that aims to provide a more balanced and sustainable ecosystem for cryptocurrencies.

✔️ Polkadot (DOT): Polkadot aims to enable different blockchains to transfer messages and value trust-free, sharing their unique features while pooling their security.

✔️ Stellar (XLM): Stellar is an open network that allows money to be moved and stored. It was created to link financial institutions and drastically reduce the cost and time required for cross-border transfers.

FAQ
⭐ Is CoinZoom legit?

Yes, CoinZoom exchange is legitimate. It's registered as a money services business with FinCen in all U.S. states and territories. They also hold an e-money license for money transmission in the U.S. In Australia, CoinZoom is officially recognized as a Digital Currency Exchange.

⭐ Is CoinZoom available in the United States?

Investors from nearly every state and city in the USA can join CoinZoom Exchange, but it's not available for residents of New York. The platform is approved as a capital trading platform in 48 states, except Hawaii and New York.

⭐ How do you make money on CoinZoom?

Use the app to select Bitcoin or another crypto in your CoinZoom wallet and swipe your card. It instantly turns your crypto into USD when you buy something. Plus, depending on your card, you can earn 1-5% back in crypto on every purchase. Spending crypto and making crypto is easy.

⭐ What are the benefits of CoinZoom?

Customers get $10 in Crypto for opening a new CoinZoom account. Use the CoinZoom Crypto Visa Card to spend USD and crypto at over 53 million merchants worldwide and earn up to 5% back in crypto. ZoomMe offers free and instant crypto and USD transfers to friends and family worldwide.

⭐ Does CoinZoom require KYC?

Your account type (full or limited) depends on the level of validation you've completed. We follow US regulations for Know Your Customer (KYC). Ensure your email address is correctly entered without typos.

⭐ What is CoinZoom used for?

CoinZoom is used as a cryptocurrency exchange platform that enables users to buy, sell, and trade various cryptocurrencies, facilitating the management and investment of digital assets.

CoinZoom Fees

CoinZoom implements a maker/taker fee model for its trading platform, with fees varying based on the type of order and user participation in its ZOOM Token Rewards program.

CoinZoom Trading Fees

When trading on CoinZoom, users are subject to specific fees: 

  • Market Maker Fees: These range from 0.18% to 0.36%. Maker fees apply when users add liquidity to the order book, such as placing a limit order below the market price for buying or above it for selling.
  • Market Taker Fees: These fees vary from 0.22% to 0.44%. Taker fees apply when users remove liquidity from the order book, typically by placing an order that matches an existing order.
  • ZOOM Token Rewards: Users can lower their trading fees by holding ZOOM tokens in their accounts and paying them for trading fees. Coin Zoom crypto exchange offers up to a 50% discount on trading fees for those who participate in this program.

Fiat Deposit & Withdrawal Fees

CoinZoom's fee structure for deposits and withdrawals varies based on the method used. 

coinzoom-crypto-fees

Deposit Fees:

  • ACH (Automated Clearing House): Deposits are free, but withdrawals are unavailable. ACH deposits take 3-4 business days to post to your account. While they are available for trading on the day of deposit, they can't be withdrawn for 7-21 days.
  • Credit and Debit Card Deposits: Both attract a fee of 2.99%. Funds deposited via cards are held for 21 days, generally up to 90 days in some cases, due to financial institution policies.
  • CoinZoom Cash Deposits: These come with a 5.00% fee.

Withdrawal Fees:

  • ACH Reversal: A fee of $100 is applied.
  • Wire (USD): Withdrawals cost $25.
  • CoinZoom Instant (Debit & Prepaid Card Withdrawal): The fee is $1.50 or 1.50% of the transaction, whichever is greater. This service is instant, and users staking ZOOM tokens at different levels (Gold to Black) receive a percentage back in ZOOM tokens for these withdrawals.

Is CoinZoom Legit?

CoinZoom operates under strict regulatory standards. It's registered with FinCEN as a money services business and adheres to U.S. financial regulations.

For U.S.-based users, CoinZoom provides added security through FDIC insurance, covering U.S. dollar deposits up to $250,000. Additionally, the platform offers digital asset insurance to safeguard customer assets during a hack.

Most of CoinZoom's user assets are stored in secure, offline cold storage facilities, minimizing the theft risk. The platform also encourages users to enable two-factor authentication, adding an extra layer of security for their accounts and investments.

Customer Support

The platform offers live support to its customers weekly from 8:00 AM to 5:00 PM Mountain Time.

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Here are the support services CoinZoom provides:

  • Online Help Center: CoinZoom hosts a comprehensive online Help Center with many articles and detailed guides. This resource is designed for easy navigation, allowing users to find answers to common questions and step-by-step instructions quickly.
  • Ticket Creation for Account Assistance: Customers can create a support ticket for more specific account-related inquiries or issues. CoinZoom assures prompt assistance, with team members responding within minutes to address these individual needs.
  • CoinZoom Debit Card Support: CoinZoom offers a dedicated service for issues related to its debit card. Customers can report lost or stolen cards, inquire about recent account activities, or freeze their accounts anytime by calling the provided support number.
  • Direct Contact for Account Support: Beyond the Help Center and ticket system, the platform encourages direct contact for account support, ensuring that users have multiple channels to seek assistance.

CoinZoom Mobile App

CoinZoom mobile app is designed for ease of use, allowing users to manage their crypto investments, make free transfers, earn interest, and spend their cryptocurrency with a virtual Visa card, all from their smartphone:

  • Easy Trading: Users can buy, sell, and trade cryptocurrencies directly from their mobile devices.
  • Send and Receive Crypto for Free: The app allows users to send and receive money and cryptocurrencies to friends and family globally at no cost.
  • Earn Interest: With a simple one-click feature, users can earn interest on their crypto holdings through the app.
  • Virtual Visa Card: The app includes a virtual CoinZoom Visa card, enabling users to spend their cryptocurrency at millions of merchants worldwide.

CoinZoom Review: Conclusion

In CoinZoom review conclusion, CoinZoom offers diverse services and features for cryptocurrency trading, including its unique CoinZoom Visa Card and the ZoomMe services. 

While it provides benefits like advanced analytics and a user-friendly mobile app, users should also consider its fee structure and certain limitations in withdrawals and card usage.

CoinZoom is a noteworthy option for those seeking a comprehensive crypto exchange platform.

Yana Levkovich

Crypto Analyst

Yana is an expert with a deep understanding of cryptocurrency more than 7+ years. Covering everything from traditional technology to blockchain tech and decentralized finance (DeFi). Her expertise extends to tasks like white paper creation and tokenomics consultancy. She advises companies seeking success in the cryptocurrency industry, so sh ..
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