Coinumm Review

Coinumm is an instant exchange platform that provides virtual currency services that can be purchased using several payment methods, including bank cards.

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Our Rating:
4
5

Quick summary

With numerous payment methods, quick verification, fast access to digital assets, easy withdrawals, and short transaction times, users can focus on the parts of crypto exchange that they like – buying, selling, and trading.

Pros and Cons

Pros

  • 15 minute transaction times
  • VISA, MasterCard and SEPA options
  • Championing customer experience
  • Considerable expertise

Cons

  • €50 minimum deposit
  • Requires an account
  • Requires personal documents
  • Three fee types

You may have heard of Coinumm, a platform simplifying digital asset exchange. It’s become quite popular in the crypto community, and a friend may have even urged you to take advantage of it. 

We were curious about the hype, so we decided to investigate Coinumm and answer any questions you may have about this trading platform.

Who Is Coinumm For?

The platform is for anyone interested in crypto exchange. As a digital asset exchange platform, the platform appeals to anyone interested in managing their assets and using crypto as easily as they would traditional forms of money.

Coinumm Company Information

The exchange is a start-up based in Estonia with offices in Tallinn. The team behind the exchange is dedicated to crypto and blockchain as a mechanism to revolutionize outdated personal finance models. They are focused on customer experience, so they offer 24/7 assistance and are committed to making the platform simple to navigate.

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What Makes Coinumm Unique?

It is unique as a digital asset exchange platform because of the number of payment methods. It is unusual for users to purchase crypto using both SEPA international bank transfers and VISA and MasterCard credit and debit cards. It is also unique for its focus on speed – its quick verification and transfer times mean that users can have fast access to crypto.

Coinumm Deposits and Withdrawals

After making a deposit and trading on the exchange, you can then simply withdraw your crypto back into your bank account, bank card, or digital wallet.

Coinumm Fees

As with most digital asset exchange platforms, there are fees within Coinumm for crypto purchases: a credit card fee (4%), a Coinumm fee (4%), and a network fee (which depends on the coin purchased). There is no processing fee for using SEPA/Swift bank transfer, but there remains a Coinumm and network fee.

Coinumm Reviews and Reputation

Although a start-up, Coinumm has already gained a great reputation with over a hundred Trust Pilot reviews, 100% of which rate the crypto platform ‘Excellent.’

Final Verdict

This digital asset exchange platform is all about simplicity and ease of use, and it shows. If you’re tired of complicated exchange interfaces, Coinumm could be for you.

With numerous payment methods, quick verification, fast access to digital assets, easy withdrawals, and short transaction times, users can focus on the parts of crypto exchange that they like – buying, selling, and trading.

Bottom line: your friend was right to urge you to open an account.

Is Coinumm Safe or a Scam?

This digital asset exchange platform is not a scam. Not only does it have a track record of excellent reviews, but the exchange is dedicated to customer security, even including a warning page on its website to help users avoid falling into crypto scams and other online investment traps.
The platform also never stores user deposits for extra security – users must provide their own wallet address. Its verification process is also part of its efforts to prevent fraud.

What Can I Trade On Coinumm?

You can trade ten cryptocurrencies. They are: 
•      Bitcoin
•      Ethereum
•      Tether (ERC-20)
•      Tether (TRC-20)
•      DOGE
•      Tron
•      Bitcoin Cash
•      Stellar
•      Ethereum Classic
•      Litecoin

How Do I Open an Account With Coinumm?

Opening an account with the digital asset exchange platform is relatively simple.
1.    By clicking ‘Get Started’ at the top right of the page, you will see a new window to fill out a short form to create your account.
2.    Next, you’ll be asked to upload the necessary documents to confirm your identity. Validating your identity usually takes around just 15 minutes.
3.    Finally, you select your chosen payment method, and you are ready to go.

Do I Pay Tax on Coinumm?

As well as fees, it’s likely that you will pay tax on your crypto exchanges traded on the site, but this will largely depend on your location. Each country has set out its own tax rules for the crypto sector, and users have to follow the tax laws of the country they reside in.

How Much Is the Coinumm Minimum Deposit?

The minimum deposit is around 100 EUR/USD. 

Our Rating:
4
5