CoinFalcon Experience 2021: The Crypto Exchange Test
10 Stars
What CoinFalcon experience can you expect after signing up? The review provides answers and informs about fees, cryptos, functions and more. The review is essential reading for anyone interested in CoinFalcon.
CoinFalcon is a crypto exchange where you can also make deposits with the fiat currency "euro".
But what is behind the company, which has its headquarters in London, although you have to specify "Lithuania" as the destination country for transfers? How high are the CoinFalcon fees?
What is done for the security of the investments? What can be traded and is CoinFalcon reputable?
All questions will be answered in the CoinFalcon test. A final judgement can only be made after a close examination of the matter.
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Regulated provider
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Advantages and disadvantages of CoinFalcon at a glance
The website has average security measures and you can have cryptocurrencies and euros credited to your account.
However, no credit cards or PayPal are supported, only bank transfers.
The operators of CoinFalcon require almost no personal information for registration, unless you want to deposit euros.
The CoinFalcon FAQs contain very detailed step-by-step instructions for all users, illustrated with animated GIFs.
However, there is only an iOS and no Android app.
Support is available 24/7 but only via email or contact form. You can't find a phone number for direct contact.
CoinFalcon Review - The offer
Coinfalcon allows buying, selling and exchanging cryptocurrencies.
The only fiat currency currently supported is the euro.
In addition, one has to pay certain CoinFalcon fees to the operators for certain services.
The website is also represented on Facebook, Reddit and Twitter and offers its own blog.
Support is supposed to be available 24 hours a day, every day of the week. However, this point was not checked in the following test.
The CoinFalcon cryptocurrencies
When it comes to crypto exchanges, it comes down to fees, security and, above all, the number of tradable cryptocurrencies.
Here, CoinFalcon is rather in the midfield with 'over 20 cryptocurrencies' advertised by the platform.
After logging in, however, you only get access to "up to 13" cryptocurrencies, the number of which has fluctuated more often in the past without notice.Coinfalcon cryptocurrencies overview
The most well-known are, of course, present:
Bitcoin | Litecoin |
|---|
However, you should not make deposits of other coins. If you deposit coins that are not supported by the platform, there is a risk that they cannot be recovered.
These cannot be retrieved and are therefore lost forever.
For this reason, you should always check beforehand which digital currencies are offered for deposits.
Our recommendation: Buy cryptos with eToro
Incl. wallet
Buy and sell cryptocurrencies directly in the wallet
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Regulated provider
Real cryptos or CFD trades
CoinFalcon experience: The functions
A big advantage of CoinFalcon is that you can trade cryptocurrencies with little effort and without sharing personal data.
However, the platform seems to be more for newcomers because no advanced trading options are offered.
Moreover, the step-by-step instructions can be especially helpful for new users.
Animated GIFs explain almost every point in a simple way!
Open an account with CoinFalcon
Registering on CoinFalcon works just like on any other portal.
You only need an email address to register. If you already own cryptocurrencies, no further personal data is needed.
CoinFalcon does not charge any fees for the creation, account management and in case of inactivity, nor for all deposits of digital currencies.
CoinFalcon only charges fees of €1 for bank transfers.
After entering your email address, you will receive an email within a few minutes to verify your account.
You will then be redirected to the platform. Here, every new user should select two-factor authentication under Settings to protect their account from unauthorised access.
Of course, the content or design of the site can change at any time due to technical updates, which is why you should check all important points again before registering.
Buy Coins with CoinFalcon
CoinFalcon makes it easy to buy, resell and exchange coins of various digital currencies.
Step 1: Deposit cryptocurrencies
To make your first deposit, click on the button provided and select your currency.
It is important that you only deposit the currency that you have previously selected.
The operators create an account that only allows deposits of the selected cryptos. All other coins cannot be accepted and are probably lost forever.
So if you want to transfer several different coins, you have to do it one after the other.
For a deposit, you copy the address of the new wallet and paste it into your own digital wallet.
Step 2: The trading platform
After that, you have to go to the advanced mode and you will already find the trading platform there. From here you can control all purchases and sales as you wish.
Step 3: Withdrawing coins
Withdrawals work in the same way as deposits.
You link your private wallet to the account and transfer the respective cryptos.
You can also find clear step-by-step instructions on this point in the FAQs.
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Incl. wallet
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Paypal, credit card and instant bank transfer
Regulated provider
Real cryptos or CFD trades
The CoinFalcon App
The CoinFalcon app is a very recent invention and was launched on 4 October 2018 with version 1.0.
So far, the offer is only available to Apple users. Android users can only trade via the browser.
However, those who prefer to access the trading platform from their computer can do so exclusively via the website.
If someone should find an Android version, it is definitely advisable to check whether these are not third-party offers.
It is often fraudsters who want to obtain the login data of CoinFalcon investors. One should only stick to programmes licensed and monitored by the operators.
According to the description, one can easily buy and sell cryptocurrencies. Apparently, one only needs €10 as a minimum balance.
However, it is not a private wallet from which you can buy items. The application is only used for transactions and to monitor the market.
Of course, a CoinFalcon app for Android may be released by the operators in the future, but until it is presented on their website, Android users should keep their distance from all possible programmes for mobile devices.
CoinFalcon Experience: Payment methods
Apparently CoinFalcon sees itself as a crypto exchange and no deposits via PayPal are allowed!
Depositing by credit card is also advertised, but is only possible after identification and verification of the bank transfer, all other payment institutions are not supported.
Payment method | duration | Currencies |
|---|---|---|
Banj transfer | 2-3 business days | - |
Cryptocurrency | 0-4 hours | 13 currencies |
The only way to top up your credit via a fiat currency is by bank transfer. However, you first have to verify your account.
You also have to bear in mind that the bank must carry out the transaction in euros.
All other currencies are not accepted and you still have to pay the fees. In addition, the name of the account holder must be the same as in the customer account.
If this is not the case, the transfer is rejected and there is no possibility to load money onto the account.
This is to prevent attempts at money laundering, because withdrawals can only be made to the same account from which the deposits were made.
For each transfer you have to pay an additional 1€ as a handling fee to the operators of CoinFalcon.
Because it is a trading exchange for cryptocurrencies, you can of course also fill your account with digital currencies.
The supported coins are listed on the site, unfortunately not always complete and also fluctuating in number.
It is important to deposit only the coins that are offered, because all other cryptos are lost forever during the transfer.
There are no fees for all credits of digital currencies in the account.
However, there are fees for withdrawals and you can find a detailed list in the FAQs.
There are also helpful step-by-step instructions prepared for each deposit option. They are even made easier to understand with animated GIFs.
As an investor, you should know all additional fees beforehand and plan them into your trades.
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Cryptowallet included
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CoinFalcon Experience: Security
There don't seem to be any major peculiarities when it comes to "security".
The entire website is encrypted via SSL and you have to provide almost no personal data.
However, since the first deposit must be made by bank transfer, you are forced to verify your personal data.
Otherwise, 98% of the deposits are kept offline and only 2% in protected systems online.
This is supposed to protect against hacker attacks, because a system that is exclusively offline can only be hacked on site.
The operators do not disclose more information about their security system.
Additional protective measures
In the account, you have the option of setting up a two-factor authentication.
To do this, you need a mobile device and a certain application from the respective stores. Afterwards, you should synchronise your mobile phone or tablet with the account.
After the connection between the mobile phone and the account, a code is generated for each new login attempt. You have to enter the random sequence of numbers into your web browser.
Only then can you carry out transactions again. However, the tan is only valid for 30 seconds and can only be used once.
Of course, you can set up further protective measures yourself.
For example, it makes sense not to save your access data on your computer.
If the PC is stolen, the new owners have access to the trading platforms and can carry out transactions in the name of the user.
If you cannot remember your login information, you should keep it on an encrypted USB stick.
It also makes sense to compare the IP addresses and locations in your profile with your own login attempts from time to time.
If there are any differences, it would be advisable to contact support and change your own password!
Hackers may have gained access to the account.
Last but not least, you can see the activities on the account and you should immediately recognise if something is wrong. All the points described here can be found under the "Settings" of the account.
Fee-free trading with eToro
Cryptowallet included
Buy and sell cryptocurrencies directly
No deposit or withdrawal fees
15 cryptocurrencies can be traded permanently
social trading possible
CoinFalcon Experience: Customer service
As soon as a user has difficulties, most like to contact support directly.
Of course, they sometimes don't keep up and users complain about long response times.
The first step should always be to consult the FAQs. Here you will find helpful step-by-step instructions on common problems. In addition, a search via common search engines could lead to the desired success.
However, if all attempts have failed, you can of course contact the customer service.
The operators offer information via form or e-mail. There is no telephone number for a direct conversation, which is very unusual for an exchange.
According to the website, however, support is supposedly available 24/7, which was not verified in the CoinFalcon test. Questions can also be asked via a Facebook page, a Twitter account and Reddit.
Often you can also reach the operators via the platforms, but the employees are only allowed to give information on general questions. In case of account-specific problems, you have to verify yourself and better call the customer service!
How high are the CoinFalcon fees?
Another important point for investors are the fees.
Of course, as with all other exchanges or brokers, CoinFalcon charges fees.
Art | fee |
|---|---|
Deposit / Withdrawal | 1 € / bank transfer |
Crypto credits | free of charge |
Crypto credits (private wallet) | depending on the operator |
FIAT withdrawal via SEPA | 1 € |
FIAT withdrawal via SWIFT € 30 | 30 € |
Maker fees | no |
Taker fees | depending on the operator |
Our recommendation: Buy cryptos with eToro
Incl. wallet
Buy and sell cryptocurrencies directly in the wallet
Paypal, credit card and instant bank transfer
Regulated provider
Real cryptos or CFD trades
CoinFalcon experiences and user opinions
Many new investors first look online for reviews of their favourite exchange.
Trustpilot is often one of the first places to look.
But you won't find any CoinFalcon experiences on the platform. The search via Google also has little success because almost exclusively test reports from private providers are shown.
However, one cannot determine the origin of the websites with certainty, which is why they were not used for the assessment in the CoinFalcon test.
Moreover, one should not blindly trust every report online, because some websites buy their ratings or are allowed to pay that other platforms are rated badly.
Online, one otherwise only finds comparisons to other users, except on the company's Facebook page.
There, the offer is rated with 3.7 out of 5 possible stars.
Some speak positively about the website and others judge the trading platform badly.
Individual ratings
„The best exchange I’ve ever used. Everything just works, the UI is great and the support is very responsive. They also listen to user feedback and are very quick to implement suggested features.“
Andere geben an, dass sie die Handelsplattform durchaus weiterempfehlen würden:
„I’m loving CoinFalcon. Very nice exchange platform, easy and nice design, every time they constantly improve the site. Support are the best that I have ever met in this sphere. Always very fast, friendly, all problems are solved with easy. Thank you“
Natürlich finden sich nicht nur gut gelaunte Anleger unter den CoinFalcon Reviews:
„Was happy to see IOTA and buying it went well. Unable to withdraw into my wallet though. Well I was dumb enough to try buying more and trying it again. Transactions still pending a week later. No reverse of the transactions, no support WHATSOEVER.“
Apparently, there was a problem with IOTA withdrawals for a certain period and some users complain in their CoinFalcon experiences that when the number of cryptocurrencies was reduced, they were not notified and lost their coins.
From such founders, one should have already researched about the website and the associated offer beforehand, so that difficulties or positive aspects are known.
Is CoinFalcon a scam?
CoinFalcon is most likely not a scam, but a reputable platform.
The CEO is a real person, which is often not the case with scam websites. The standard safety precautions are offered and the risks are pointed out.
The platform is a crypto exchange for buying, selling and exchanging digital currencies.
As an investor, however, you should not switch off your mind at any time and blindly trust offers that sound too good to be true!
Most of the time, there are scammers behind them who want to get their hands on the money saved by unsuspecting investors.
You should also check the blog or news website of the operators from time to time so that you are aware of changes in cryptocurrencies or fees and can act in time.
CoinFalcon Experience - The Conclusion
CoinFalcon is a pure crypto exchange.
You can buy, sell and exchange cryptocurrencies with each other.
Only 13-20 coins are offered, which is rather mediocre compared to other trading platforms!
In addition, the stated number of tradable coins is confusing and even misleading on the homepage!
Deposits with Euros are allowed via bank transfer, but otherwise you have no possibility to load your account with funds via fiat currencies.
Here you can often not only buy different digital currencies, but also copy trades of successful investors.
As an Android user, you also have the option of carrying out transactions on the go, which is not offered by CoinFalcon.
The platform in the test seems to have specialised more in Apple.
As a forward-looking investor, you should also first test the platforms in demo mode before depositing your saved money.
Our recommendation: Buy cryptos with eToro
Incl. wallet
Buy and sell cryptocurrencies directly in the wallet
Paypal, credit card and instant bank transfer
Regulated provider
Real cryptos or CFD trades
FAQ
The provider is a crypto exchange where cryptocurrencies can be bought and sold.
In our test, CoinFalcon was convincing. The diverse trading options and the excellent customer support attract many customers, most of whom are very satisfied with the provider.
The amount of your own investment should depend on your own liquidity, the chosen cryptocurrency and your own risk tolerance. In general, you should never invest money that you actually need elsewhere, as profits can never be guaranteed.
Here, too, the platform is convincing. Payouts are processed very quickly and are in your account within a few minutes to 2 working days, depending on the selected payout method.
You should always know what you are investing in. Cryptocurrencies are highly volatile, so you should first get to know the selected coin in detail. If you have the necessary know-how, as well as the necessary bit of luck from time to time, then nothing will stand in the way of early profits.
