CoinCap Review: Real-Time Bitcoin and Altcoin Conversion on CoinCap Website
Coincap is a popular cryptocurrency exchange that allows the purchase of cryptocurrencies such as Ethereum and Bitcoin using USD. The platform was launched back in 2015 by ShapeShift -ShapeShift Global Limited, a corporation established under the laws of the United Kingdom. Coincap.exchange should not be confused with Coincap.io, which is a high authority market tracking website.
CoinCap provides consumers with a reliable ecosystem to trade more than a thousand different types of cryptocurrencies in real-time. The fact that you can buy any type of cryptocurrency and sell it later when the price is high makes this the best site for beginners and experienced traders.
With the fast-changing world of cryptocurrencies, it is vital to have the latest information, statistics and data of what is trending in the crypto space. CoinCap ranks crypto coins starting with the most frequently traded to the least. As of the time of writing this review, Bitcoin was the leading on the list followed by Ethereum, XRP, Litecoin, Bitcoin Cash, Tether, EOS, Bitcoin SV, Stellar and Cardano.
These rankings are based on market capitalization volume and current price. Additionally, CoinCap website comes with the 24-hour WAP that updates the value of each coin in relation to the previous day’s price. Other than indicating real-time market prices, this site provides users with the latest news through detailed articles of everything in the crypto space.
Coincap recently received a thorough facelift, including major upgrades of its user experience and quality of customer support. Some of the functionality upgrades of the new platform include real-time market prices and price movement, including hourly changes. This is a rare feature that even CoinMarketCap, the leading platform for cryptocurrency price comparisons, doesn’t have.
Commissions and Fees
One of the key strength of this cryptocurrency exchange is it’s low cost of trading. Market makers, crypto traders who add new orders on the platform are allowed to use the platform for free. The takers, traders who accept the orders/offers made by the market makers, may pay as little as 0.01% in trade fees. However, when we created the account and traded on the platform, the lowest we were charged was 0.20%.
CoinCap aims to offer transparent transactions and up to date exchange rates. All the latest changes in exchange rates are published through the WebSocket.
Trust, Security, and Safety
CoinCap values the safety of its customers which is why they handle all personal data with great care. The fact that you can access the websites and get all the information you want without disclosing your identity makes this site safe for everybody. The personal data which is collected such as type of browser, IP address and time of access helps the operator to offer the best user experience and to enhance the security of the site.
The two most notable security features that the exchange offers its traders are 98% cold storage and 2FA. Of course, we could not use and evaluate the cold storage policy of the site, but the two-factor authentication policy works nicely.
Two factor authentication links your CoinCap Exhange trading account with your smartphone through a technology provided by Google. Once you enable 2 factor authentications, you will have to manually approve each login attempt from your smartphone. This means that even if someone somehow gets to know your password, he or she can’t access your account unless they also have access to your smartphone.
CoinCap uses Zendesk to answer live questions on various topics. The safety of this platform is enhanced by KeepKey, the premier crypto security software. KeepKey comes with a wide range of features like Stress-Free Security, Straightforward Backup and Recovery, Sleek and Simple Display and Effortless Exchanges.
CoinCap has a sleek and straightforward user interface on desktop computers. The site is available in the Standard and Dark themes. You can switch between the two in the settings option. The top bar on the homepage features the ‘Coins’ ‘Exchanges, Charts, API, USD, English and the Search Window. As aforementioned, the currencies are rated based on the current price. Customers are provided 24-hour trading data by order quantity and by value.
CoinCap has two official mobile apps for Android and iOS devices. Like the desktop platform, no account or sign up is required. Additionally, mobile apps are absolutely free to download and accessible for everyone in the world. Users need iOS 10.0 or later and are compatible with iPhone, iPad and iPod touch. The Android version (5.00 and up) supports a range of new features like the Altfolio History that precisely monitors the performance of your favorite assets, Customization, Watchlist and an updated design. Some of the key selling points of CoinCap mobile app include:
- A clean and friendly user interface
- All prices are perfectly arranged by the market cap
- Allows access to hundreds of renowned crypto coins
- Direct access to charts and coin purchased
Opening an Account
You must sign up for ‘ShapeShift Members to start trading. There are several benefits enjoyed by ShapeShift Members, including higher trading limits, rewards on trading volume, private market, better pricing, access to new coins and more. The first step requires users to offer their personal information, including email and password.
Next, you need to confirm that you are not a robot by checking the available box. The third step requires you to verify your email. The last thing will be to verify your personal information using either your passport, government ID or driver’s license. Log in your new account and enjoy trading through ShapeShift from anywhere. All the personal information you provide is immediately secured with an air-gapped encryption key.
Deposits and Withdrawal Options
Most traders prefer using Paper Wallet when depositing funds in ShapeShift accounts. A paper wallet is a physical representation of your virtual assets. All deposits are made to the ShapeShift deposit address which is sent to you upon request. The first step in depositing requires you to locate your private key. Second, you import your private key into a wallet of your choice. Note that you must import everything from the paper wallet. The last step is to authorize your deposit to ShapeShift account. If the deposited funds don’t reflect in your KeepKey, chances are high that the exchange failed. In such cases the deposited coin is automatically returned to your wallet.
There is a miner fee that applies to all transactions across the network. Exchanges made via this platform may take from thirty seconds up to several hours to be completed. Alternatively, you can use ShapeShift through Jaxx Liberty.
The objective of ShapeShift is to become the most prominent companies in the crypto world. They do this by creating digital asset products that protect and empower the users. The main products and services of this platform are:
- ShapeShift.io: This platform is easy to use, where you are required to create an account, select your crypto, add the receiving address and then send your money. Also, all the exchange rates are updated in real-time and there are no additional fees.
- CoinCap: You will find all the crypto currencies in this section, from the highest-ranking to the least rated.
- KeepKey: This is a purchasable device that protects your crypto by storing your private keys offline. Some of the top digital assets on the platform include Bitcoin, Bitcoin Cash, Bitcoin Gold, DASH, Dogecoin, Ethereum and Litecoin.
Research Tools and Insights
One of the most fundamental tools used on this website is CoinCap API 2.0. It is designed to deliver real-time prices and market activity for more than 1000 crypto coins.
CoinCap websites offer educational information to all users. Click on the ‘Explore’ section on the homepage to access different sections. The first option is ‘Blog’ where they share the latest education topics, news and inspirational information. You can also access the ‘Media’ section where you will find featured press releases and news. To add on, customers can view the current and upcoming events on the platforms by visiting the ‘Events’ section.
This website employs the latest ShapeShift API that requires members to sign up for an account. Registered members enjoy higher $10,000 transaction limit on all trades, 100 FOX tokens and 0.05% FOX back trade.
Cryptocurrencies are rapidly taking over the fiat or traditional currencies because they are convenient, safe and anonymous. Although there are different risks involved in this trade, it is worth it. At CoinCap, you will find dozens of different types of cryptocurrencies. One of the most appealing things about this platform is that all exchanges are done in real time.
Is this your final decision?
We suggest you visit one of the most popular crypto trading platforms instead!
- The platform offers higher leverage as compared to Forex trading sites.
- Customers are not charged for transacting on CoinCap.
- Offers the safest form of trading as cryptocoins don’t require customers to disclose their personal information.
- Trading is not limited by global boundaries or government rules.
- The site is built with the latest API tool that works across all devices.
- There are not many features like on many other platforms
- CoinCap has high leverage costs and volatility
- Multiple exchanges on Bitcoin may cause varying rates
7 Binary Options review: CoinCap: 4 stars