Coinhouse, previously known as “La Maison du Bitcoin,” is a cryptocurrency broker that helps to ease your cryptocurrency trading experience. It is a good trading platform for beginners who wish to get into the business of cryptocurrencies. Coinhouse features a mobile app and a desktop version. In this Coinhouse review, I will give all the necessary details that you have to know about this exchange service.
Coinhouse Review: In a nutshell
Coinhouse is a trading service that was specifically designed to make the process of buying and selling cryptocurrencies easy and fun. If we do not take into account the complexity of the platform for the newcomers, Coinhouse is one of the most convenient exchange services. The drawback of this trading platform is the difference in cryptocurrencies you may buy and sell depending on your account status. All “Classic” users that use the free version have only three cryptocurrencies available (BTC, ETH, and LTC), whereas “Premium” users pay a certain monthly fee to use a wider variety of coins.
The company has been on the crypto market for about 5 years now with a plethora of customers that give this broker service a good review. Meaning that the reputation Coinhouse has manifested over the years is a solid one.
In this Coinhouse review, I will cover the basics that clients want to know, that is:
- Review: Coinhouse as a company
- Company Services
- Currencies and Payment Methods
- Coinhouse Fees
- Buying and selling limits
- Supported Countries
- Customer Support Service and Online Coinhouse Review
- Bottom line
Review: Coinhouse as a company
It all started with a co-working place with the name of ‘La Maison du Bitcoin’ launched by Eric Larcheveque and Thomas France in 2014. At the time, clients worked with digital currencies and blockchain projects at a real location in Paris, France, at 35 Rue du Caire. Later the launchers added an online exchange with a fancy domain name of Coinhouse.
Coinhouse is a broker service that helps customers to buy, sell and store their coins. Usually, new users prefer a broker service since this way the process is way faster and easier. You do not have to search for the people with the coins you want to buy on your own. The broker does it for you but, for sure, for a certain price.
Nowadays, the company works as a full online trading platform that also provides broker services all over Europe. The main goal of Coinhouse, now still located in Paris, France, which is quite unusual for cryptocurrency exchanges, is to make cryptocurrency accessible to individuals and qualified investors. Now Coinhouse serves more than 200,000 customers.
This section covers the services that you can get with Coinhouse. There is quite a list of things that Coinhouse as an online exchange can provide to ease buying, selling, and storing cryptocurrency process.
The brokerage service
To use the platform, you have to sign up via a quick process that includes a verification process. You have to provide identification documents (such as a passport or driver’s license) that the company will check in accordance with KYC and AML protocols. All legit trading platforms do it this way, including Coinhouse.
When the verification process is done and the registration is complete, you end up at a dashboard with a few clear tab sections such as “Buy,” “Sell,” and “Transaction history,” where you can easily look up what and where you have bought.
For buying cryptocurrencies, there are several quick steps:
- Click on “Buy” and choose a payment method: either bank cards (credit or debit cards) or a bank transfer.
- Enter the amount you would like to purchase and a wallet address where you want your coins to be sent to: to your own wallet or an external wallet.
- Confirm the transaction. Then in some time, you get the coins to the wallet of your choice.
- An easy withdrawal process.
If the user-friendly design is also as vital as it is for me, then Coinhouse is a definite choice. With this platform, the trading process becomes clear and fast.
Users can also choose a premium service for as little as €27 a month. Premium gives a user a few perks, with the major ones being able to use over 300 cryptocurrencies (and not just BTC, ETH, and LTC). Other perks include access to a personal account manager, market insights, cheaper transactions, and regular credit card payments.
I personally think that paying monthly just €27 is not that big amount of money you pay for what you get. Just look at this full comparison of the services:
Scheduled recurring investments
Dubbed “Coinhouse Savings,” users can schedule automatic, recurring cryptocurrency purchases to benefit from dollar-cost averaging. They can select both the frequency and duration of the purchases to suit their needs for a range of supported assets.
At Coinhouse, a user can have 4 types of portfolios. That is why it is easy to choose what investments you want to make. The portfolio types are the following:
A “Defensive” portfolio: meaning it is built to minimize the risk of a market downturn.
A “Fundamental” portfolio: users have only Bitcoin and Ethereum.
A “Balanced” portfolio: with this type, a user can have a few promising cryptocurrency assets.
An “Offensive” portfolio: here, customers can add high-risk cryptocurrencies with the potential of higher reward.
Finally, Coinhouse provides a cryptocurrency custody solution for institutions, utilizing 100% cold storage. The service targets funds and corporate investors, as well as digital issuers such as stable coins or tokenized security providers.
Currencies and Payment Methods
Free customers have access only to three cryptocurrencies (Bitcoin, Ethereum, and Litecoin), while Premium account holders may have up to 300 major cryptocurrencies. All trading is governed by SEPA transfer in EUR. You do not have to place some fiat currencies (like USD, EUR) on your account since the payment is taken at the time of purchase.
Here, we come to the most interesting part of the bitcoin exchange’s description for us, the clients of Coinhouse, the trading and transaction fees. Coinhouse has a few fees that vary depending on your account status, portfolio type, and payment method. One more factor that impacts fees is trading volume: the lower it is, the higher the fees are.
First, I have to state that you will pay a 3.49% fee if you pay with a credit card, no matter what account type you have.
SEPA transfer also has a fee of 3.49%, but it drops when you have a premium or a platinum account.
- “Premium” account holders pay €27 monthly for a 3-year membership, but there are cases when such customers pay as high as €39 per month.
- “Platinum” account holders pay a customized price according to the customer’s personal requirements.
It does not matter what account type have if only you are doing crypto-to-crypto trading.
Blockchain fees Coinhouse does not include in its fees, so you have to add a fee that a love market charges you.
I have to say that fees are not the cheapest at Coinhouse though the service is convenient. All exchanges will charge you a credit card fee. With bank transfers, there is a little discount, especially for the premium account holders. However, €27 seems quite a lot, especially if you are a newbie in the business.
Buying and selling limits
As with many other trading platforms, the Coinhouse bitcoin exchange tool has minimum and maximum buying and selling limits.
For buying with credit or debit cards, you have to get an amount no less than €20 while there is no information provided on the maximum limit.
The same goes for selling, and the minimum amount is €20, while the maximum amount depends on your account verification level. There are two levels:
Level 1 account verification allows you to only sell as much cryptocurrency as you have bought within Coinhouse.
At Level 2 verification, you can sell cryptocurrency that you have bought purchased anywhere else. Here, the maximum you can sell is €10,000 over a year. However, you can sell more if you provide some kind of proof of where you got the money.
Coinhouse works only in Europe and supports European bank transfers. Users need to have a SEPA zone bank account. You can get to Coinhouse from anywhere in the world; however, only with a European bank account will you have the chance to make trades.
The supported countries are Austria, Belgium, Bulgaria, Cyprus, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Iceland, Italy, Latvia, Lithuania, Liechtenstein, Luxembourg, Malta, Monaco, Netherlands, Norway, Portugal, Poland, Romania, San Marino, Spain, Slovakia, Slovenia, Sweden, Switzerland, Roumanie, United Kingdom.
Customer Support Service and Online Coinhouse Review
Coinhouse is a trading platform that prides itself on being the exchange that is aimed to help people in their investment journey. For a certain price for such services, you get access to a physical location in Paris, France. You can also participate in online training courses and get an analysis of the investments you make and personal advice. You can also get email notifications for all the transactions you make.
On the Coinhouse website, on the page with the contact information, you can find an active telephone number, the address of a physical location in Paris, France, as well as some other information.
The support team also works by email and usually answers with 2 days. Though, in my case, it took less than 2 hours.
You can also find Coinhouse social media accounts, though most of the information is in French since the company is Paris-based. Users seem to be content with the services Coinhouse provides. Some people did share only positive Coinhouse reviews on Reddit.
Trustpilot rates Coinhouse with 4.4-stars with personal responses to any issues, including customer support telephone numbers.
Coinhouse or “La Maison du Bitcoin” is a cryptocurrency exchange where the trading experience is easy and enjoyable, no matter what you want to do. Buy and sell cryptocurrency is made easy with this broker exchange. A user-friendly platform has been developed in such a way that even for new users, it is easy to find what button to click on to start the trading process. A nice addition is the ability to trade funds directly into an external crypto wallet.
Unfortunately, on this exchange, free users can only use Bitcoin, Ethereum, and Litecoin with Euro as a trading pair. I personally would pay premium membership fees to access coins readily available on other platforms.
The fees are quite expensive, although you pay for the broker service, and in case of a failure, you will get compensation. When you pay with credit cards, you for sure get a higher fee than with other exchange platforms. So, choosing the right payment methods is vital to save up on fees. Moreover, Coinhouse has a plethora of payment methods: credit/debit cards, bank transfer, SEPA transfer, wire transfers.
Customer support and online reviews confirm that Coinhouse beats most of many Bitcoin companies in terms of services. Getting support is easy through a number of methods, including telephone or over email.
All in all, Coinhouse is one of the best exchange platforms that are well developed and reliable, although a bit pricy.
Is Coinhouse safe?
Coinhouse has quite a high system security and acts according to KYC and AML regulations with no disclosure of your personal details. This fact makes the exchange platform reliable for any bank transfer you require. And the private data is untouched.
How do you procure Bitcoins?
Buying Bitcoin with Coinhouse is easy: you have to get a Bitcoin wallet, enter the address into the Coinhouse system and go shopping for Bitcoin.
Is ethereum a DeFi coin?
The short answer is yes. It is a DeFi coin, meaning it runs on a smart contract exchange platform. Reread the review to get to learn the basics better.
What are NFTs?
Non-fungible tokens (or NFTs) are coins that are unique and cannot be traded for any other coins existing. Such tokens have been on the market since 2017.