Koinal is an easy to use cryptocurrency exchange founded in 2017. The exchange offers an interface that’s easy on the eye, and is simple to navigate for beginners. Koinal allows users to buy and sell cryptocurrency instantly with credit and debit cards or bank transfers.
Koinal was founded in 2017 and is headquartered in the UK, but it has worldwide offices. The platform has global reach, and is available to users in all countries except a handful. Most notably missing is the US. There are regulatory prohibitions that stop US traders using platforms with brokers regulated outside the US.
Koinal supports the buying and selling of the following cryptocurrencies: Avalanche (AVAX), Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and stablecoins, including Tether (USDT). This list grows constantly.
When a user registers and completes the KYC process, they need to make a deposit to begin trading. Euro can be deposited via SEPA or bank transfer, while the Pound Sterling and USD can be deposited via bank transfer.
Koinal does not charge deposit and withdrawal fees. However, users can be charged by their bank for fund transfers or when using card.
There is a 4% processing fee for buying cryptocurrency, which is quite high in the crypto space.
Koinal doesn’t offer a wallet of its own. Instead, users need to link to external wallets to their Koinal account.
Withdrawals can be done in Euro, Pound Sterling, or USD.
The platform has decent customer support, with a live chat and email ticket system being available. There is also a help center, which is full of good information for customers feeling lost.
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.
Overall, Koinall is a fantastic platform for new users looking to gain exposure to cryptocurrency in a secure environment. US customers may wish to look at other options, however.
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