Frequently Asked Questions

Why do we need Coinbook when we have Coinbase and Gemini?

The larger US based exchanges are moving towards servicing institutional investors. There is a need for an exchange that focuses on individual retail investors.

Why use Coinbook? What's the advantage?

We have no fees, you can buy coins for US Dollars directly, we make it fun with achievements, and we might even send you a free T-shirt or two! We also make it so easy, your sweet Grandma can understand and buy bitcoin.

Why are your prices sometimes higher or lower than the rest of the market?

Our exchange determines price based on the activity on Coinbook. At times our prices will be better or worse depending on who is buying or selling. Chances are, if the buy price is a little high, the selling price is better than other exchanges.

What is the minimum investment amount?

One penny.

How do you make money if you aren't charging a fee?

We make money on the difference between the buy and sell price.

Why do you sell hardware wallets on your exchange?

Many exchanges want to be a bank and control your money. We don't. We want to teach you the philosophy of cryptocurrency which is to control your own wealth. If you use your own wallets you can be your own bank.

How did you choose the coins listed at Coinbook?

We choose coins that are over 4 years old that have a strong community. As we started Coinbook, we really relied on the support of the community and the most supportive coins were listed first.

Can I add a new coin to Coinbook?

If your coin is over 4 years old and has a strong community, we will consider it. Send us a support ticket with the request. Coinbook reserves the right to list or deny any coin for any reason.

Why do you only list coins that are over 4 years old?

If the coin is over 4 years old and still has a strong community and active development team, these coins should be safe to invest in even for an unsophisticated investor.

Why aren't some of the most popular coins listed on Coinbook?

We don't list coins with anonymous features due to US anti-money laundering laws. We also only list coins that are not considered securities.

Why do all of your coins trade against the US Dollar?

There are many exchanges that allow crypto to crypto trading. We focus on direct buying and selling from fiat to simplify taxes and make cashing out easier.

Why do you have achievements on your site?

Coinbook wants to make trading approachable for all investors. Achievements mix things up and make it more fun. We also want to reward users for making Coinbook a success.

Why do you ask for a T-shirt size?

While the T-shirt size is optional, we do send T-shirts out to successful traders as well as anyone who uses the platform quite a bit. The shirts are free.

I would like to talk to a person. Do you have a phone number?

Yes call us during business hours at 385-247-COIN.

How long does it take to get verified?

Most people are verified instantly. If it takes more than 60 seconds then feel free to contact us.

How long does it take to verify my bank account?

The micro deposits are put into your bank at the bank's pace which is usually 3 business days. However, we have seen accounts get verified in 1 business day before, but still plan on 3 days.

How long does my USD deposit take to show up?

Here we are at the mercy of the old fashioned banking system. It takes 3 business days.

When was Coinbook established as a company?

Coinbook was born on September 7, 2017.

When did Coinbook launch the site for trading?

We opened our doors on October 31, 2018 - the 10 year anniversary of the bitcoin whitepaper. Moment of silence please.

Why do you ask for my Social Security Number to verify the account?

When opening an account with us, it's the same as opening a checking account. The positive side of this is that all funds deposited belong to you, not Coinbook.

Can employees of Coinbook see my personal data?

Coinbook only stores address, email, name, and phone. This is to send T-shirts or contact you if there is a problem. Not even the CEO can see your Social Security Number since that is passed directly through to the bank.

Is my money safe at Coinbook?

Yes! All US funds are FDIC insured up to $250,000. The majority (98%) of crypto is stored in cold wallets offline.