Koinal Review 2022

KoinalReview

Table of Contents

Introduction

Koinal is a global crypto investing platform designed to support the buying and selling of cryptocurrencies. The platform delivers an easy-to-use interface to buy and sell crypto instantly with credit and debit cards or bank transfers.

Founded in 2017 and headquartered in UK with worldwide offices,  Koinal has a global reach, providing services to all countries except Argentina, Canada, India, the Philippines, Russia, South Africa, and the United States.

Koinal supports the buying and selling of the following cryptos: Avalanche (AVAX), Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and stablecoins, including Tether (USDT).

Koinal Platform Attributes

Key attributes of the Koinal platform include:

  • The instant buying and selling of crypto in just three steps.
  • Koinal supports the buying and selling of cryptos globally.
  • Koinal freezes the crypto price for 60 seconds once a user has started a transaction.
  • Users can purchase crypto with credit and debit cards or by bank transfer.
  • Strong focus on security, with KYC requirements in place and 2FA on offer.
  • 24-7 customer services via Live Chat and Bot.

The Pros and Cons

Pros

  • Crypto Offering: Koinal supports the buying and selling of some of the largest cryptos by market cap.
  • Customer Support: 24/7 customer support via Live Chat and Bot.
  • Fiat Purchases and Withdrawals: Users may purchase crypto instantly with credit and debit cards and deposit EUR/GBP/USD by bank transfer. Users may also withdraw EUR and GBP by bank transfer.
  • Multi-Client Focus: Koinal offers services to retail customers and businesses.
  • KYC: While unregulated, Koinal requires users to complete the verification process to improve platform security.
  • Security: 2FA is in place to provide an additional security layer.
  • Simple Registration: An easy-to-navigate registration and verification process.

Other positives include

  • Competitive Fee and Price Structure: Lower processing fees, with Koinal holding its price for 60 seconds once a user has started to execute a transaction.
  • Checkout Adoption: Koinal provides checkout services to more than 52 partner exchanges, including Huobi, Stormgain, and OKEx.

Cons

  • No demo account. A responsive support team and easy-to-navigate platform remove the need for a demo account.
  • A limited range of cryptos. While limited, users can access some of the largest cryptos by market cap.
  • There is no referral program.
  • Koinal does not support the deposit and withdrawal of cryptocurrencies.

Koinal Video Review

Brokerage Services, Supported Cryptocurrencies & Payment Methods

Koinal is an online platform supporting the buying and selling of cryptos, including Avalanche (AVAX), Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and stablecoins including Tether (USDT).

Headquartered in the UK, Koinal provides services globally, except in Argentina, Canada, India, the Philippines, Russia, South Africa, and the United States.

Users may deposit EUR via bank transfer and SEPA and GBP by bank transfer or purchase crypto instantaneously with credit and debit cards.

Registration

To open an account, go to the Koinal homepage and click ‘Sign Up.’

To complete the registration process:

  • Enter your email address and password, retype your password, confirm you are not a robot, then click Register.
  • Go to your email and verify your email.
  • Log into your Koinal account and complete the verification process to make a deposit.

You will not be able to make any deposits or purchase crypto by credit and debit cards without completing the verification process.

To complete the verification process,

  • Go to your account dropdown menu and select Verification.
  • Enter your personal and address information and click Next.
  • Upload a copy of your identity card, driving license, or passport.
  • Take a selfie.
  • Koinal will then review your ID and notify you by email once the review is complete. It takes no longer than 3 minutes.
  • Upon approval of your ID, go to the email notification and click Verify Address Now.
  • Select the document type you wish to use and upload your address document, noting the document requirements.
  • Enter your residential address and click upload document.
  • The address verification process can take up to 6-hours. Koinal will notify you by email.

Once you have signed up and completed the verification process, we recommend that you set up your 2FA to enhance your security settings before making any deposits.

Post Registration Deposit

Upon registering and completing the verification process, you need to deposit fiat to purchase crypto.

To make a deposit, users may:

  • Deposit EUR by bank transfer or SEPA or GBP and USD via bank transfer.
  • Purchase crypto by credit or debit card.

To deposit EUR, go to the My Balance page.

  • Select the currency you wish to deposit and click deposit.
  • Review the critical information regarding the process, then click the “deposit” icon.
  • Review your account information and then complete the bank transfer.
  • Remember to enter your unique reference ID in the description field of your bank transfer to ensure the funds reach your Koinal account.
  • Bank transfers can take up to seven business days and three business days within the SEPA region.

Upon funding your Koinal account, you may begin buying cryptos.

Supported Crypto Currencies

Koinal gives users access to some of the largest cryptocurrencies. These include Avalanche (AVAX), Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and stablecoins, including Tether (USDT).

Users can select the Buy&Sell Coins page to buy and sell crypto or the My balance to deposit and withdraw fiat money.

The Details

Koinal supports the buying and selling of cryptos.

Traders can buy and sell crypto, with all crypto purchases deposited in external wallets.

Koinal provides a simple to use platform enabling users to access the crypto market with fiat currency.

Balances and Trading History

Koinal provides users with a breakdown of platform activity and asset balances in multiple currencies.

Transaction History

Koinal provides users with a dedicated Transactions page, which gives a full breakdown of all crypto activity.

Balances

Additionally, users may view balances in EUR, GBP, and USD via the My Balance dropdown menu. Here, users may also review balance histories.

Fees and Charges

Koinal does not charge deposit and withdrawal fees. Users may incur bank and card charges for fund transfers and crypto purchases by credit or debit card.

There is a 3.99% processing fee for the purchase and the sale of cryptos.

Koinal Wallets

The Koinal platform does not provide users with crypto wallets. Users will need to link external crypto wallets to their Koinal account to buy and sell crypto.

To link an external wallet, go to the Wallet Address page,

  • Click Add New Address.
  • Select the crypto you wish to link.
  • Give the wallet a name.
  • Copy your external wallet address into the Crypto Wallet Address section.
  • Confirm that you have checked the wallet address and click Save.

Deposit & Withdrawal Options

Koinal supports GBP and EUR deposits and withdrawals and USD withdrawals. Users may also purchase crypto by credit or debit card.

Additionally, users may purchase crypto via Koinal Checkout.

Fiat Deposits:

Users may deposit EUR via bank transfer and SEPA and GBP by bank transfer.

To deposit EUR, go to the My Balance page.

  • Select the currency you wish to deposit and click deposit.
  • Review the critical information regarding the process, then click the “deposit” icon.
  • Review your account information and then complete the bank transfer.
  • Remember to enter your unique reference ID in the description field of your bank transfer to ensure the funds reach your Koinal account.

Bank transfers can take up to 7 business days and three business days within the SEPA region.

Withdrawals

To withdraw EUR from your Koinal account,

  • Go to the My Balance page and select the currency you wish to withdraw.
  • Click the withdraw icon.
  • Fill in the bank account form and confirm that the bank details are correct and belong to you. Users are only able to withdraw funds to their own bank accounts.
  • Enter the amount you would like to withdraw and click Withdraw.

It can take up to 4 business days for funds to reach your bank account.

Credit / Debit Card Purchases

To make a credit or debit card crypto purchase,

  • Go to the Buy&Sell Coins page.
  • Select the crypto you wish to purchase from the dropdown menu.
  • Enter the amount of crypto you wish to purchase, either in crypto or USD.
  • Review the details and then click Buy Now.
  • Enter your card details and complete the transaction.

Users may pay with Visa, Mastercard, Pay Union, and corporate cards.

Koinal Checkout

Koinal allows crypto investors to purchase crypto from other exchange servers using Koinal Checkout. Here, Koinal is an intermediary, with all crypto purchases funded to a user’s wallet on the exchange server.

  • Go to your exchange server and start a purchase.
  • Select Koinal as the payment method.
  • Provide your crypto wallet address and complete the transaction.

First-time users of Koinal Checkout will need to complete the verification process to complete the transaction.

Trading Platform

Koinal supports the buying and selling of crypto via the Buy&Sell Coins page.

Buy&Sell Coins

To purchase crypto, go to the Buy&Sell Coins page.

  • Click on Buy Cryptocurrency or Sell Cryptocurrency.
  • Select the crypto you wish to buy or sell.
  • Enter the amount you wish to buy in USD or crypto or sell in EUR or crypto.
  • Click ‘Buy Now’ or ‘Sell Now.’
  • Once you have completed the transaction, the transaction details will appear on the transaction page.
  • In the case of crypto purchases and sales, Koinal will credit or debit your external crypto wallet accordingly.

Key features of the Koinal platform

Trading Features

Buy&Sell Coins: A simple to use platform allowing investors to buy and sell supported cryptos. Koinal does not provide crypto wallets, with all cryptos credited or debited from a user’s external crypto wallets.

Tracking Options

Transactions: Via the Transaction page, users may view historical transactions.

My Balance: Users may view fiat currency balances and balance histories in EUR, GBP, and USD.

Communication

SUPPORT: Users may contact customer support 24/7 via live chat.

Additionally, users may contact customer support by email at contact@koinal.io.

Social Network Platforms: Koinal has a presence on Twitter, LinkedIn, Instagram, and Facebook.

Privacy and Security

Koinal has appropriate security and privacy measures in place.

Privacy and security features include 2FA to enhance account security.

Koinal does not provide users with crypto wallets, with all purchased cryptos deposited to external wallets.

Customer Support

Koinal provides support via live chat and by email. There is also a HelpCenter where users can search for instructions.

Social Media: Koinal also has a social media presence.

Facebook: Koinal.io – Home | Facebook

Instagram: https://www.instagram.com/koinal.io/

LinkedIn: https://www.linkedin.com/company/koinal-io/

Twitter: Koinal.io (@koinal_io) / Twitter

Additional Information

FAQ

Some of the more frequently asked questions available on Koinal include:

Why does my account need to be verified?

Verification is one of the fundamental steps in our security system. Before any transaction, users of Koinal are requested to complete verification.

  1. Email Verification is the first step.
  2. Then, KYC Verification is required. The users are requested to submit proof of identity, proof of address, and a Selfie with ID.

Once it is completed, verified users start using our services.

In case of necessity, Koinal may ask for other compliance documents as well.

Are there any other bank fees?

You will be informed of the fees applied on the screen, and you will be confirmed by email, too.

In card payments, your card is charged for the order amount you confirmed by the creation of your purchase order. All the fees & applied currencies are included in the summary page after you input your card information. It is shared before the 3D approval page where you give the authorization.

How long will it take for my cryptos to arrive?

A Bitcoin transaction starts as soon as your payment is initiated. The duration depends on the mining speed, however, Koinal uses a high priority speed that allows users to receive the amount, approximately within 30-45 minutes (in most cases it can take less then 10 minutes.

There might be a delay in the mining process if the Bitcoin network is congested. Please kindly wait till the process is over. You can check the status of your transaction on blockchain anytime with full transparency.

Conclusion

Koinal is a simple-to-use platform giving users access to some of the largest cryptos by market capitalization.

While unregulated, users need to complete Koinal’s verification process to deposit funds, buy and sell crypto, and withdraw funds.

With a global presence, Koinal has some value-add features that give Koinal a competitive edge. Koinal freezes crypto prices for 60 seconds once a user initiates a transaction, and there is the Koinal Checkout feature, used by some of the leading crypto exchanges.

In conclusion, Koinal is a go-to platform for users looking to gain exposure to cryptos in a secure environment and hold purchased cryptos in external wallets.

 

KoinalUser Reviews

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KoinalFeatures

Coins Available
  • Bitcoin
  • Ripple
  • Bitcoin Cash
  • Ethereum
  • Litecoin
  • Tether
  • USD Coin
  • Avalanche
Accepted Countries
  • Australia
  • Cameroon
  • Chad
  • Dominica
  • christmas-island
  • Denmark
  • France
  • Greece
  • Haiti
  • Iceland
  • Libya
  • Mexico
  • antarctica
  • Nepal
  • Belize
  • Romania
  • Cape Verde
  • saint-pierre-and-miquelon
  • Senegal
  • Sri Lanka
  • United Kingdom
  • Eritrea
  • Faroe Islands
  • Gambia
  • Indonesia
  • Lebanon
  • Angola
  • Malta
  • Bahamas
  • Benin
  • Mayotte
  • Chile
  • Ghana
  • norfolk-island
  • Serbia
  • Guinea-Bissau
  • Syria
  • Tonga
  • arab-league
  • Kenya
  • Finland
  • Namibia
  • gaza-strip
  • Oman
  • Jamaica
  • Palau
  • saint-barthelemy
  • Solomon Islands
  • Kyrgyzstan
  • Tunisia
  • virgin-islands-u-s
  • Macao
  • americas
  • martinique
  • Montenegro
  • Peru
  • Puerto Rico
  • reunion
  • saint-martin-french-part
  • Sweden
  • Trinidad and Tobago
  • american-samoa
  • Yemen
  • Aruba
  • Bahrain
  • Belarus
  • Bulgaria
  • Colombia
  • Cuba
  • Cyprus
  • Algeria
  • bouvet-island
  • Burkina Faso
  • Cambodia
  • Curacao
  • Kuwait
  • Saint Lucia
  • South Sudan
  • Tanzania
  • Turkey
  • guadeloupe
  • Virgin Islands, British
  • Maldives
  • Botswana
  • Qatar
  • Saint Vincent and the Grenadines
  • Slovenia
  • Sudan
  • Taiwan
  • Tuvalu
  • Vatican City
  • Uruguay
  • western-sahara
  • Malaysia
  • Moldova
  • Nauru
  • Papua New Guinea
  • svalbard-and-jan-mayen
  • Zambia
  • Andorra
  • anguilla
  • Bolivia
  • Afghanistan
  • Congo
  • Cote d'Ivoire
  • Laos
  • Dominican Republic
  • Mauritania
  • Egypt
  • Gabon
  • New Caledonia
  • Morocco
  • sint-maarten-dutch-part
  • Uganda
  • Nigeria
  • Swaziland
  • Vietnam
  • wallis-and-futuna
  • Austria
  • Barbados
  • Bosnia and Herzegovina
  • Equatorial Guinea
  • Comoros
  • Estonia
  • Fiji
  • Ethiopia
  • Guam
  • Guernsey
  • Mali
  • Hong Kong
  • Ireland
  • Italy
  • Macedonia
  • Poland
  • Madagascar
  • Sierra Leone
  • montserrat
  • Vanuatu
  • Panama
  • Portugal
  • Samoa
  • pacific-islands
  • Saudi Arabia
  • Timor-Leste
  • Albania
  • Burundi
  • Guinea
  • Iran
  • Armenia
  • Bangladesh
  • Belgium
  • Lithuania
  • Bhutan
  • Mongolia
  • Cayman Islands
  • Myanmar
  • Niger
  • Rwanda
  • Cook Islands
  • saint-helena-ascension-and-tristan-da-cunha
  • Sao Tome and Principe
  • Slovakia
  • Czech Republic
  • Thailand
  • United Arab Emirates
  • Ecuador
  • united-states-minor-outlying-islands
  • Germany
  • India
  • North Korea
  • Liechtenstein
  • Luxembourg
  • Marshall Islands
  • New Zealand
  • niue
  • Pakistan
  • Uzbekistan
  • Venezuela
  • Zimbabwe
  • atlantic-islands
  • Antigua and Barbuda
  • Croatia
  • aland-islands
  • falkland-islands-malvinas
  • Guyana
  • Central African Republic
  • Norway
  • Paraguay
  • San Marino
  • Spain
  • Suriname
  • Switzerland
  • Guatemala
  • asia-pacific
  • Honduras
  • Singapore
  • Somalia
  • turks-and-caicos-islands
  • Bermuda
  • Brazil
  • Brunei
  • China
  • Costa Rica
  • El Salvador
  • Georgia
  • Greenland
  • Hungary
  • jersey
  • Jordan
  • Latvia
  • Micronesia
  • Seychelles
  • South Africa
  • Turkmenistan
  • Ukraine
  • Isle of Man
  • french-guiana
  • French Polynesia
  • Gibraltar
  • Saint Kitts and Nevis
  • cocos-keeling-islands
  • Japan
  • Netherlands
  • Malawi
  • South Korea
  • Djibouti
  • Kiribati
  • tokelau
  • Liberia
  • pitcairn
  • Togo
  • Northern Mariana Islands
  • Azerbaijan
  • Tajikistan
  • Lesotho
  • Kazakhstan
  • Mozambique
  • Monaco
  • europe
  • Nicaragua
  • Mauritius
  • Iraq
  • Kosovo
  • Israel

Payment Method

Deposit Options
Credit Card, Debit Card, Wire Transfer, cryptocurrency
Withdrawal Options
credit-card, wire-transfer, debit-card, cryptocurrency
Company Information
Exchange DetailsInfo
Headquarters Country
Foundation Year2017
Typeexchange
Trading AllowedNo
Contact Information
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