Growth of interest in the crypto currency provokes the emergence of an increasing number of sites for trade and exchange of digital money. One of the most popular exchanges for crypto currency is the ECoin trading platform. In this article we will discuss how to work on this exchange: how to register, replenish the account, withdraw money and more.
Overview of the ECoin exchange, pros and cons
The ecoin.eu domain was registered back in 2009 in Panama. The ECoin exchange itself is managed by Wallet Capital Group Inc. and operates within the framework of offshore regulation.
ECoin provides support for 11 interface languages, including Russian, English German, Chinese, Polish, Portuguese, Italian, Spanish, French, Estonian and Lithuanian. Also, the developers of this trading platform are seriously approaching security issues and pay much attention to the protection of users’ personal data. The exchange site uses SSL certificates and an encryption key and has been carefully checked by the creators for reliability.
Users can additionally secure their account with the settings in their personal account: ip address filter, two-factor authentication service from Google, linking the account to a mobile phone number.
The ECoin exchange also offers users to attract new members of the system within the framework of the referral program. The reward is 30% of the total profit from the invited participant.
If we talk about the advantages of the ECoin crypto exchange, they are the following:
- The project functions within the framework of the legislative framework of the European Union, and you can worry less about the reliability of keeping your funds there
- Presence of the Russian-language version of the interface.
- Support for the most popular digital currencies.
- Minimum commission, bitcoin can be withdrawn and completely free.
- Work in the 24/7/365 mode.
- Efficiency of specialists in the technical department who are ready to quickly solve problems of varying complexity that arise before the clients of the trading platform.
- Support for multiple payment systems.
ECoin also has its drawbacks:
- The minimum amount of output. The threshold of 0.1 BTC is not a problem for large investors, but seriously limits potential users.
- Number of trading pairs. On ECoin it is possible to buy and sell bitcoins and lightcoins only for dollars.
- Necessity of account verification. Mandatory verification is not pleasant to many users, because not all are ready to disclose their passport data and to link operations with the crypto currency with their real identity.
Registration and verification on ECoin
To register on the trading platform, you need to click on “Sign Up For ECoin” and enter the login, password and e-mail on the opened page. Email will need to be confirmed in a letter that you will receive almost immediately. You can also log in to your account using the Facebook page.
Verification on the exchange is necessary if you plan to replenish accounts by bank transfer for more than $ 1,000. In this case, you will need:
- A national identity card – this could be an internal or a foreign passport, a driver’s license.
- Scanned documents for proof of residence – tax return, bank statement, utility bills.
- The photo on which you are depicted with an ID card in hand.
Scans must be of excellent quality. The system will not accept screenshots or electronic documents. However, if you do not want to undergo verification, then the exchange functions perfectly without it, but you can only replenish the account with a crypto currency or a bank transfer of less than a thousand dollars.
How to use ECoin
The interface ECoin Exchange inherent minimalism and ease of navigation. All the main functions and additional options are located on the main page.
You can buy or sell the required crypto currency on the “Trade” tab. Here, the graph of the exchange rate of the selected currency pair is immediately displayed. By the way, only two trading pairs are available on the exchange: BTC / USD and LTC / USD. The graph shows the rate for 1 day, a week, a month and six months to choose from.
Next are the tabs, where you can directly buy or sell the crypto currency. Also, below you can see the suggestions of other users. On the left there are active applications for purchase, on the right – for sale.
Trade takes place in an automatic mode. Trading volumes are quite good. Among the users the greatest demand is for the pair BTC / USD. Its turnover for 24 hours is 2 631 573.888 USD. While in LTC / USD this figure is only 52 540.090 $.
How to replenish your wallet and withdraw funds?
You can replenish the balance and withdraw dollars from the site using such systems:
- Perfect Money;
Input and withdrawal of funds occurs through intermediaries – currency exchange services, which are certified exchange partners. Among them:
- Сryptopay24 and many others.
It happens this way: first the user is asked to choose the payment system, and then the intermediary who will make the exchange process. After that you need to fill in all the fields and confirm the transfer of funds.
You can also withdraw both the Crypto-currency and the Fiat. For bitcoin this operation is free, but a minimum threshold of 0.1 is set, which is quite a lot. Lightcoin is displayed with a retention of 0.01 LTC, but the limit is only 0.01. Dollars from the account balance are transferred through banks and payment systems. In the first case, this can take several days (no more than 5), and payment systems process transfers almost instantly. In addition, periodically the commission is set to zero: for example, AdvCash very often does not take money for the transaction.
Also, the platform offers an express translation service for withdrawing funds. It costs money, but it allows you to save time considerably.
Commission on ECoin approximately correspond to the commissions on other crypto-exchange exchanges. For example, 0.2% of its amount is charged for conducting a trade transaction.
Reviews about the ECoin crypto exchange
ECoin Exchange has been working for many years. There were almost no complaints from users about her work during this time. Administrators of the site always warn in advance on the technical works at the forums and react quickly to the comments.
Despite the obvious shortage of trading pairs, this service is an excellent way to buy crypto currency. Bitcoins and lightcoins can be purchased for dollars through banks or popular payment systems under the control of European law.
In general, traders are satisfied with the site, as there are many opportunities to earn a lot. Positive feedback deserves and favorable conditions of work, the presence of a referral program, the speed of transactions.