Coinhouse Review – A Beginner’s Guide
By: Eliot Prince | Last updated: 5/1/20
Coinhouse is a cryptocurrency broker that makes buying your first digital currency easy from its online platform or brick and mortar store. This review covers everything our need to know about the company before using its services.
Coinhouse Review Summary
Coinhouse.com makes it easy, and enjoyable, to buy and sell cryptocurrency. The platform is slick and well developed removing all complexities for new users. The main thing to be aware of is that “Free” users can only access BTC, ETH and LTC while “Premium” users get access to a wider variety of coins (at a monthly cost).
The company seems to be keeping a solid reputation throughout the 5 years it’s been operating with a barrage of happy customers.
That’s Coinhouse in a nutshell. For a more detailed review keep on reading, here’s what I’ll cover:
- Company Overview
- Company Services
- Currencies and Payment Methods
- Supported Countries
- Customer Support and Online Reviews
Launched and operated in Paris, France, since 2014, Coinhouse aims to make cryptocurrency accessible to individuals and qualified investors. Its broker service removes the complexities facing new users looking to buy, sell and store cryptocurrency.
Eric Larcheveque and Thomas France initially launched ‘La Maison du Bitcoin’, a coworking space for digital currency and blockchain projects. It was a brick and mortar location that added an online exchange coinhouse.com
Now completely rebranded as Coinhouse, the company operates a slick online trading platform and in-person exchanges in-store.
In its quest to support people on their cryptocurrency investment journey, Coinhouse has expanded across Europe with over 200,000 customers.
Coinhouse’s online exchange is an easy user-friendly platform that really does make buying, selling and storing cryptocurrency a breeze.
The brokerage service
The signup process is fluid as the reactive system guides you through the process quickly including immediate identity verification in accordance with KYC and AML banking regulations.
Once registered the platform is clean and simple with a small selection of clear tabs. From the dashboard, you have quick buy and sell options along with your transaction history.
Nothing is over complicated, users can buy cryptocurrency in just three quick steps. After hitting the buy button you quickly select a payment method – either credit card or bank transfer.
Next, you enter the amount you would like to purchase. At this point, you have a choice to either send cryptocurrency to your Coinhouse custodial wallet or an external wallet.
Finally, you confirm the transaction and the job is done. The trade is processed and funds are delivered to your chosen wallet address.
I was really impressed with the modern user interface which felt clean fast and reactive without any complications.
Users are also offered a premium service which adds some extra benefits for $39 a month. One major advantage of this service is the addition of over 300 cryptocurrencies (and not just BTC, ETH and LTC).
You’ll also gain access to a personal account manager, market insights, cheaper transactions and regular payments. €39 a month feels like a little overkill for what you actually get in my opinion. Here is a full comparison of the services:
All trades are processed in Euros via SEPA bank transfers or credit cards. There is no need to make a deposit or hold fiat currencies on your account. All payment for trades is made at the time of purchase.
Fees vary depending on the payment method and account type.
Free account – For all transaction types: Buy: 4.9% Sell: 3.9% + €9.90 in store
Premium account – Membership: €39 a month
Credit card: 3.9%
Crypto swaps: 0.5%
The trades are made at live market rates with no markups and blockchain fees are not included in the Coinhouse fees. You can check the full information on fees here.
The fee structure is certainly not the cheapest around. The service is convenient and the credit card fee is actually around industry standard. You do get a little discount using the premium membership, especially with bank transfers. Although at €39 a month I wonder how much you are actually saving?
Users are limited to €10,000 per bank transfer and €2,000 per credit card purchase.
There is a pro bespoke service for people looking for big trades over €100,000 although this will cost you an added €249 a month.
Coinhouse is exclusively a European cryptocurrency exchange. Users need to have a SEPA zone bank account. You can access the web-based platform for anywhere in the world but essentially need a European bank account to make trades.
The supported countries are:
- Czech Republic
- San Marino
- United Kingdom
Coinhouse prides itself on being more than just another cryptocurrency exchange. Its ethos is to help people in their investment journey. As such they have created a bricks and mortar store, online training courses, analysis and personal advice (for a price).
It’s great to see an active telephone number on the website along with physical addresses and other contact information.
The email support aims to respond to all queries within 48 hours, but actually it was much quicker, responding to my question in less than 2 hours.
Its social media is busy and filled with helpful content although a lot of it is in French, which is understandable for the Paris based company.
Around the web, users seem pretty satisfied with the Coinhouse service. Reddit has several positive threads with little bad to say. Minimal complaints or scandals.
On TrustPilot Coinhouse maintains a healthy 4.5-star rating with personal responses to any issues including customer support telephone numbers.
Coinhouse makes it easy, and enjoyable, to buy and sell cryptocurrency. The platform is slick and well developed removing all complexities for new users. A nice addition is the ability to trade funds directly into an external crypto wallet.
For regular users, the currency selection is very limited with only Bitcoin, Ethereum and Litecoin to Euro pairs. Personally I think it is a sting to pay a membership fee to access coins readily available on other platforms.
The fees structure is not cheap, although is industry standard for credit card buys you’ll usually face a bigger fee for the convenience of a broker service like Coinhouse.
Customer support and online reviews shine through in an area where many Bitcoin companies fall down. Getting support is easy through a number of methods including telephone plus not many have a bad thing to say about Coinhouse.
Overall, you can’t go far wrong with Coinhouse. You might be paying a little more for the service but it is well developed and reliable.
Have you used Coinhouse yourself? I’d love to hear about your experience in the comments section below.