FAQ

General
What is Coinmerce?

Coinmerce has been founded by cryptocurrencies enthusiasts, with 1 purpose; making buying and selling cryptocurrencies as simple as possible for everyone. Easy, fast and safe.

What are cryptocurrencies and what can I do with them?

Cryptocurrencies are digital currencies with each another value. These cryptocurrencies can be traded just as any other currency and are independent of central banks.

Why would I choose Coinmerce?

Coinmerce believes everyone should be able to invest in this strong growing market. Our mission is making it as simple as possible to trade cryptocurrencies.

What is Level 1?

With Level 1 we require a email and bank verification which gives you a weekly trading limit of 500 euro.

What is Level 2?

With Level 2 we require a copy of a government issued document such as; personal ID, passport or drivers license. This gives you a deposit and withdrawal limit of €20.000 per day and €60.000 per week.

What is Level 3?

Need higher limits? After completed Level 1 & 2, you can apply for Level 3. We require a Source of funds, Proof of residence and a Skype call. Please contact our support team.

Cool-off period

A cool-off period of 8 hours applies to new users. This period means that users can buy and sell crypto. However, sending crypto to an external wallet is impossible during this period.

Payment methods
Why does Coinmerce requires a copy of my ID, passport or drivers license at level 2?

Brokers of digital currencies are required to follow Customer Due Dilligence and Anti-Money Laundering guidelines. The verification of a copy by ID, passport or drivers license is a required standard. Identity verification helps protect Coinmerce users from theft, fraud and prevents abuse of the Coinmerce

What is the difference between a deposit and withdrawal?

Through a withdrawal you can send coins from your Coinmerce wallet to an external wallet, with a deposit you will receive an address where you can send coins to your Coinmerce wallet. Warning; each coin has an unique address

Do I receive airdrops at Coinmerce?

At this moment you can't receive airdrops at Coinmerce. The reason for this is that often little is known about airdrops, as a result of which we can not offer the safety and service you are accustomed to.

Does Coinmerce support tokenswaps?

In most cases Coinmerce supports tokenswaps of digital currency. We do this automatically for you and therefore do not have to do anything yourself. In case we do not support a tokenswap, we always inform our users about this.

Coinmerce hard fork policy

Coinmerce looks at every hard fork individually. This has the following reasons: The trade volume of new forks is often too low to be able to offer them. A hard fork can pose unknown safety risks. Do you still want to receive the funds that arise as a result of a hard fork? Then withdraw the appropriate cryptocurrency to an external wallet.

Do I receive GAS, VeChain Thor and Pundi X at Coinmerce by holding related cryptocurrencies?

Currently it is not yet possible to receive GAS, VeChain Thor and Pundi X by means of staking. Do you want to receive rewards for staking? Then withdraw the appropriate cryptocurrency to an external wallet.

Crypto
What is cryptocurrency?

Straightforward: cryptocurrency is a digital currency for the digital age. It’s similar to regular currencies like EUR or USD but it’s digital-only.

Different cryptocurrencies?

Bitcoin is the oldest and most acknowledged cryptocurrency, but there are thousands of others. Cryptocurrencies like Bitcoin Cash and Litecoin, share Bitcoin’s core characteristics but seek new ways to handle transactions. Others offer a wider range of features. Ethereum, for example, can be used to create smart contracts and run applications.

Do I have to buy a whole coin?

No, you don’t need to own a whole coin. You can buy and sell them in increments. You can own for example 0.004 Bitcoin.

What is Bitcoin?

Bitcoin was founded in 2009 by Satoshi Nakamoto with a software and a whitepaper describing how it works. Because Bitcoin is decentralized software, everybody can run it on their computer and therefore participate in a new global economy. One of the important elements of Bitcoin is the so called blockchain, which tracks and saves who owns what, similar to how a bank tracks assets. Bitcoins can be sent to someone across the world as easily as someone can pay with cash at the counter. Bitcoin payments are more secure than standard card transactions. Besides there is a very low risk of your information being compromised, or having your identity stolen.

What is Ethereum?

Ethereum is a decentralized blockchain platform founded in 2014 by Vitalik Buterin. Like Bitcoin, Ethereum is an open-source project that is not owned or operated by a single entity. This means that anyone, anywhere can download the software and work with the network. The primary purpose of Ethereum is not to act as a form of currency, but to allow those interacting with the Ethereum Network to make and operate 'smart contracts' without having to trust each other or use a middleman. Smart contracts are applications that run as programmed without any possibility of downtime, censorship, fraud, or third party interference. Ethereum uses a 'virtual machine' to achieve all this, which is like a giant, global computer made up of many individual computers running the Ethereum software. The virtual currency unit that allows this system to work is called ether. People interact with the Etherum network by using ether to pay the network to execute smart contracts. Ethereum aims to take the decentralization, security, and openness afforded by blockchains and extend those to virtually anything that can be computed.

What is 2FA (Two Factor Authentication)?

Two Factor Authentication, known as 2FA, is an extra layer of security that is known as 'multi factor authentication' that requires not only a password and username but also something that only the user has on them. Using a username and password together with a piece of information that only the user knows makes it harder for potential intruders to gain access and steal that person's personal data or identity. (https://www.google.com/landing/2step/)

Experts about cryptocurrencies?

Experts often discuss the many ways cryptocurrency can address the shortcomings of our current financial system. Identity theft, high fees, and extreme economic inequality are an unfortunate component of our current financial system.

The value of cryptocurrency?

The economic value of cryptocurrency comes from supply and demand. Supply assigns to how much is available, like how many Bitcoin are accessible to buy at any moment. Demand refers to people’s desire to buy it. The value of a cryptocurrency will always be a harmony of both factors.

What is blockchain?

Blockchain is the technology behind Bitcoin. At the beginning, people were enthusiastic about the application of Bitcoin itself, but it soon became clear that the technology behind Bitcoin is much more interesting. 

Blockchain technology

Blockchain is a data structure. A blockchain can be described as a global one ledger or database. Basically, a spreadsheet that is shared with members of the network. But blockchain has different characteristics than traditional databases. Traditional databases are centrally managed by one organization. Clients must be confident that this organization carries out its duties in charge. There are several drawbacks to this way of working. What happens if the organization is no longer there tomorrow? How do I know who has access to my data? So, there is little transparency, security risk and these systems also have long transaction times and many costs with him. Blockchain brings three domains together in one technology. Cryptography, database technology and peer- to- peer make blockchain what it is.

Characteristics of the blockchain

1. Distributed
2. Pear- to- pear
3. Recorded data cannot be mutated
4. Public a transparent
5. Open for innovation
6. Trust

What is decentralized?

Blockchain is decentralized. This means that the data is not stored in one place but multiple places. With a public blockchain, everyone can keep and check this data by downloading a software. You then become a so-called 'node', or parts of it the network with the task of checking and keeping track of the general ledger. In addition to full Transparency also ensures that hackers get more difficult when they, for example want to adjust data. This is because each node has a copy of the ledger, so suppose the hacker changes data on one computer, then that data no longer corresponds to the data on the other nodes and your computer is excluded. Moreover, it sometimes happens that central systems are offline, this can have multiple editions. With a decentralized system this is virtually impossible, if one node fails, the rest will continue to work. The applications of blockchain are very wide and there are still new ones every day applications. The invention of blockchain is sometimes compared to the invention of the internet.

What is an ICO?

ICO is the abbreviation of; Initial Coin Offering. An ICO is a way to collect money. A crypto currency is created and is then offered to the public. It is similar to a term which will sound more familiar to most people, an Initial Public Offering (IPO). The difference is that you buy a share at an IPO and so become a co-owner of the company. You are also entitled to a profit distribution. In addition, ICOs are not regulated and it is often difficult to find out whether they are legitimate projects. It is therefore essential to do proper research yourself at the ICO. Check whether the team members are reliable. Is there a whitepaper that you can read and what is being said is logical? Also try to find out what others think of it, for example through forums. In most ICO's it does not work as you are used to through Euro's or Dollars but you pay with cryptocurrency. After all, it is a cryptocurrency product. In most cases it will be Ether or Bitcoin that you transfer and then get your ICO coin back. Cryptocurrencies are risky, it is well known but at ICO's coming there's a lot more risk. There are countless examples of teams that disappear with money or simply failed projects, the ambitions are often high but these are rarely realized. Determine for it yourself or you are willing to take that risk. Do you know how to pick out the right ICO? returns of 10,000% are not impossible, but with high returns there are also high risks.

Crypto-money, cryptocurrency: What is it?

Cryptocurrency is registered in a blockchain. Sometimes there is a separate blockchain for one cryptocurrency, in other cases one blockchain registers multiple currencies and / or other data. The data per transaction is the public key of the new owner, a hash (combination of the data of the previous transaction and this public key) and the digital signature of the previous owner. The new owner himself can not easily check whether the previous owners have not spent the amount several times. This does a network of nodes that each have an overview (general ledger) of all transactions. It may take a while before the new owner has certainty about this. That takes at least until the transaction is processed in a block; this can take a long time, depending on the cryptocurrency (if the payer pays a low fee to the network). Often a proof -of- work schedule used for a system of consensus-based computing which should provide protection against tampering and counterfeiting. Multiple transactions are often processed in a block. As soon as a block is found, it is made public. The other nodes control it, and the nodes start on the basis of this and the new transactions that have now been carried out start with the search for a new block.

Safely store your recovery-seed?

Are you working on a Ledger Nano S, TREZOR or KeepKey? Or do you use a Jaxx or Exodus software wallet?


During the installation you will receive a recovery seed of 24 words. This is often saved on a piece of paper, unsafe. That is why the CryptoTag is developed, a titanium (resistant to extreme temperatures, erosion and corrosion) plate where you can easily engrave your recovery seed. This way your recovery seed stays safe.

By means of a simple hammer blow, you can permanently secure the recovery seed of your Ledger or Trezor in the titanium. All requirements for engraving the CryptoTag are included.

Is your recovery seed on a piece of paper and if there is a flood or fire you have lost your recovery seed. The CrypoTag is heat resistant and can withstand temperatures up to 1665 ° C.

The CryptoTag
• Engrave up to 48 words (2x Ledger, 4x TREZOR and KeepKey)
• Functional with all BIP39 wallets: Exodus, Jax etc.
• Resistant to temperatures up to 1665 ° C
• Easily and quickly engrave with the hammer system
• Lifetime warranty from the manufacturer
• Resistant to erosion and corrosion
• Made in Amsterdam

Protect your crypto safely with this strong product from Dutch soil. https://cryptomaan.nl/products/cryptotag?ref=5bb3035442c6d