Coinhouse Review – My Personal Experience with This Bitcoin Exchange

5

If you’re trying to buy your very first Bitcoin, dealing with Bitcoin exchanges can be a bit confusing. Exchanges like Kraken or Bitstamp sometimes have too many options (e.g. limit trading, margin trading etc.). This is exactly where Coinhouse comes in. Coinhouse.io aims to be “The House of Bitcoin” for all European customers.

The company is affiliated with LedgerWallet – the extremely popular hardware wallet and is located in Paris. Initially the company supplied its services solely to the residents of France, however since it was established in 2014 the company has expanded and now provides the option to buy Bitcoins to all European countries. The company fully complies to KYC (Know Your Customer) and AML (Anti-Money Laundering) regulations.

The process of buying Bitcoins on the site is pretty simple:

  1. Open an account on Coinhouse
  2. Validate your identity by supplying a copy of a government issued id and a photo of you holding the actual document
  3. Buy your Bitcoins

Behind the scenes, the company buys the coins from Kraken and sells them to you for a “convince fee”. This allows you to buy Bitcoins with your credit or debit card and without any confusing process (Kraken doesn’t accept credit cards). The fee depends on the accumulated amount of Bitcoins you’ve bought on the exchange.

  • 0 – 500€ : 10% fee
  • 500€ – 1,500€ : 9% fee
  • 1,500€ – 3,000€ : 8% fee
  • 3,000€ – 5,000€ : 7% fee
  • 5,000€ – 10,000€ : 6.5% fee
  • > 10,000€ : 6% fee

For instance, if you buy for 500€ you will have 10% fees. If you come back and buy another 500€ of bitcoins, your fees will be only 9% for this transaction. The max amount of Bitcoins you can buy after getting validated is €2000 a day or €10,000 a month. Payment options include credit cards, debit cards and Neosurf (a prepaid card to buy stuff on the web). You can also buy Ethereum or even sell your Bitcoins on the site (and get paid via SEPA).

Personally I’ve been dealing with Coinhouse since October 2015 and haven’t had any issues with them. Payment is made quickly and support is fast to respond via email or phone. Other than the time it takes to verify your identity, transactions are instant.

The only downside is the high fees. If you’re planning on buying a small amount then it may be worth avoiding all of the hassle in the exchanges, however for buying large amounts of Bitcoin other methods are preferable.

All in all Coinhouse.io is a solid Bitcoin broker, mainly for people living in Europe who are looking to buy Bitcoins with their credit card.

Coinhouse.io

Coinhouse.io
8.25

Fees

7/10

    Ease of use

    9/10

      Support

      9/10

        Reputation

        8/10

          Pros

          • Accepts credit and debit cards
          • Fast transactions
          • Easy to use

          Cons

          • Relatively high fees

          5 Comments

          1. Fees

            10

            My experience with coinhouse;
            After waiting for 2 days for confirmation I decided to send an email, they answer on my questions was that my selfie wasn’t accepted. I replied “Thanks for the info” where they proudly replied “welcome” for it.
            After being accepted I was able buy some coins wich where delivered instantly the first and the second time. The third time was another thing..
            I payd around 12am, an hour later I decide to send an email to the support asking for some info about iit, no-one toke the time to answer, so after another hour I called the client’s services, where they claimed to take care instantly, there was some kid of problem with my card, while it was the same card I used for my first purchases.
            An hour later I call again and this time i speak with another person who clearly was overwhelmed by the calls and short and clearly told me that it was the price of the exchange and that they blocked the transactions, I asked what the next step was where he replied that I should wait and that there is nothing he could do about it, I should contact the support he replied… (I was allredy loosing my patience by now.),
            What’s your job over there was my question and told him that I allredy send 5 mails and still haven’t got any answers.
            I call back around 7pm asking just if I was gonna get my money back of if I should forget about it, the guy I spoke with that time felt my disappointment and ensure me it would be delivered without knowing when. I told the guy the effect that it has with my reputation, where I promised to deliver those coins for investment and wasn’t able to do so.
            He suggested to come back with an other payment method and things would be faster, I told him not to promote it, if they can’t handle a fast delivery, that I was open to listen but nobody answer my mails, so I was not going to give my money back to them. The guy didn’t even knew that they promote fast delivery on his own work site ???.
            I wasn’t mad anymore, just realized that they where holding the coins till the dollar raised some more, those guys actually prefer to lose some clients and have comments like this online about their way of working instead of keeping their promises wich is a fat delivery.
            Delivering the coins or give the money back and maybe loose some in the exchange while making your client’s happy by keeping your word is not an option for this kind of coinhouse.io
            Around 8.40 I received the coins, my business opportunity was over and toke with her my reputation.
            Today, 26 hours after my first mail, the support replied that the coins where allredy sent to my address.
            It makes actually sens now that I know they buy from kraken and that they don’t accept prepaid over there.
            If you ask me…
            It’s not cheap, they are not very kind once they have your money, they make you wait if it’s not in their advantage, they make you loose some good investment and mess up with your reputation on the go also.
            This is what I told them today while suggesting them to come over here and have a look at my comment;
            The world is not f..k’d up by people who do wrong like you guys, but by people like me that see you acting and do nothing.
            With this I’m putting an and to that!
            THanks for the motivation I told them, and here I am.

            • Zsofia - 99Bitcoins support on

              We have not experienced such delays with them until now. Thanks for sharing your story!

          2. Jon-Tokes Platform on

            Good insight! you saved me some time trying to figure it all out on my own! Thank you Ofir!!

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