We are an exchange not a bank. The entire point of our service is to help you go from dollars to crypto and back again. Bitcoin was invented as an alternative to the traditional banking system and we are here to facilitate the Bitcoin ideology.
A bank is a place where you give control of your money over to an institution in hopes that they will keep it safe and eventually give it back to you. In the process you might get a small amount of interest but usually incur fees for their service. Bitcoin was meant to allow you to be your own bank. Since Bitcoin is deflationary, the coins you hold should increase in purchasing power over time so you earn "interest". In order to own your Bitcoin, you need to hold them in your own personal wallet, not leave them in the control of a third party. We want to help you discover that freedom.
Our platform is designed for optimal transparency and ease of use. While we serve all levels of bitcoin traders from beginners to seasoned veterans, we want to help the smaller investor. You will see that everything on the site is simple, clean, and intuitive. We will teach you about Bitcoin and Altcoins and hold your hand until you are ready to dip your toe in and buy crypto for the first time. With the ease of this site, your grandmother can set up an account and buy $1 of Bitcoin without any confusion.
We have no deposit fees, no withdrawal fees, no minimum balance fees, no needy customer fees, and no other made up fees. Our trade fees are already built into the price so when you buy or sell, the price you see is the price you get. No more getting sideswiped with fees after you make your trade! This gives you the freedom to buy a penny's worth of Bitcoin without prohibitive trading fees! Do you see what we are creating? Coinbook is the ultimate onramp and offramp into the crypto world.
We offer Bitcoin and selected altcoins on our site. You will notice that there are some very big coins missing. There are also some very successful coins missing from our exchange. We are more interested in our customer's success than making a bunch of money off of the newest most-hyped coin on the market. Some coins are excluded due to anti-money laundering laws and compliance with US banking rules, but others are simply excluded because we don't want customers to get hurt.
For example, when a new coin comes out everyone gets in as fast as possible. They shout at the top of their lungs about how amazing it will be and price goes up dramatically. The slow movers get on board in the middle or at the top, and then the early buyers sell and crash the market. This happens over and over again in crypto. To avoid this, the coins we offer are years old not months old. All the hype has long gone. Our coins have been vetted, and tested over time, and still have dedicated developers interested in the success of their coin even after half a decade of working on it. We see a future in the coins we offer and are dedicated to their success. You can expect all the coins on our platform to be something worth trading.
Banks, Exchanges, and Financial Institutions are very boring. We have plans to take our exchange into the future with a fresh attitude. When you sign up you'll notice that you can optionally include your t-shirt size. If you include that, there's a small chance that we'll send you a gift. We can't give everyone a shirt, but when we do we want to see a picture on twitter. We also want to implement achievements and make things a little fun.