CoinMena Review | Best Exchange Plantform
The first cryptocurrency exchange that complies with Sharia and has received certification from Bahrain’s Shariyah Review Bureau is CoinMENA. It has grown to be the most well-liked local marketplace for digital assets, enabling residents of Qatar to sign up for accounts and use all of CoinMENA’s services. It has a license from the Central Bank of Bahrain to conduct services related to cryptocurrency assets. According to our investigation and assessment of CoinMENA, we can conclude that the company’s entry has significantly advanced the provision of new features, including competitive and cheaper fees, bilingual customer assistance, a referral program, an OTC desk, and many more.
| Official Website | https://www.coinmena.com/ |
| Headquarters | Bahrain |
| Found in | 2019 |
| Native Token | No |
| Listed Cryptocurrency | Bitcoin, Ethereum, Ripple, USD Coin, Litecoin, Bitcoin Cash, Chainlink, Uniswap, USD Tether, FTX Roken, etc |
| Trading Pairs | N/A |
| Supported Fiat Currencies | Bahraini Dinar (BHD), Omani rial (OMR), United Arab Emirates Dirham (AED), Kuwaiti Dinar (KWD), Saudi Arabia riyal (SAR), United States Dollars (USD) |
| Supported Countries | Bahrain, Saudi Arabia, United Arab Emirates, Oman, Kuwait, and Qatar |
| Minimum Deposit | Variable |
| Deposit Fees | Bank Deposits – Free Card Deposits – 3.5% Crypto Deposits – Free |
| Transaction Fees | 0.75% |
| Withdrawal Fees | Money Withdrawals – Variable Crypto Withdrawals – Variable |
| Application | Yes |
| Customer Support | Submit a Request Form, Help Center, & Social Channel Support |
To enable simplified deposits and withdrawals, the Bahrain-based company recently launched capabilities that let users link their bank accounts to personal CoinMENA wallets.
Users can deposit and withdraw money in their local currency as well as buy, sell, receive, and store cryptocurrency on the website in the safest possible way. The CoinMENA cryptocurrency exchange in the UAE strives to be the most reliable option for a larger audience of investors and traders in the MENA area by facilitating simple payments of digital currencies and offering high liquidity, competitive fees, bonus prizes, and a rich instructional approach.
This CoinMENA review goes through the platform’s rules, functions, services, OTC desk, advantages and disadvantages, registration requirements, costs, security precautions, supported regions, etc.
What Is CoinMENA?
Since CoinMENA’s inception in 2019, the team has worked tirelessly to expand restricted trading to new nations. The cryptocurrency marketplace with its headquarters in Bahrain has made history by introducing restricted trading for MENA and Qatari citizens to choose the price or value at which they want to buy and sell cryptocurrency.
The website’s co-founder intends to grow its business activities around the world by establishing new markets. In terms of the company’s long-term market expansion objectives, this revelation marks a significant turning point. Users that have access to the CoinMENA platform can purchase and trade cryptocurrencies including Bitcoin, Ethereum, Ripple, Litecoin, Bitcoin Cash, etc. By using the referral program, prospective investors can also take advantage of earning additional incentives by referring their friends, relatives, and other traders. Cryptocurrency does not require regulation from a financial institution or the government because it is a decentralized digital currency intended to function as a means of trade.
How Does CoinMENA Work?
The first cryptocurrency exchange with the lowest fees is CoinMENA, which has its corporate headquarters in Bahrain. It is subject to Central Bank of Bahrain regulation and has a license for a Crypto Assets Services Company (Category 2). The platform has gained a lot of traction with investors in the Middle East, and the company has ambitions to expand its operations by allowing additional investors to buy, sell, store, and receive cryptocurrency in other locations. Ever since CoinMENA entered the market, this enormous move has grown to be a significant turning point for the cryptocurrency exchange. On the website, the platform’s complete control is provided.
Users of the platform in the Middle East can swap digital assets through the CoinMENA website. Using their local fiat money to fund their accounts, investors can buy cryptocurrencies at a fixed price or value. A trader can start investing their cryptocurrency funds on the cryptocurrency exchange platform after transferring their cryptocurrency funds to a CoinMENA wallet or personal bank account.
By enabling them to participate in the new digital economy, CoinMENA has developed one of the best ways to connect with investors of all types, including novice and experienced traders, and offers high liquidity, competitive trading fees, and all the features typically needed for an investment purpose in a digital assets exchange.
Why Choose CoinMENA Exchange?
The first and biggest cryptocurrency asset website in Qatar is now called CoinMENA, and users from all around the Middle East may now quickly and securely use the website to make their very first investments in digital currencies. Residents of Qatar can open an account with CoinMENA and take advantage of all the key features, including the ability to securely link bank accounts to wallets and make quick payments of cash and cryptocurrencies in minutes.
The benefits of using the website include news and updates about cryptocurrency investment opportunities, regulated and direct access to the world of digital assets, competitive transaction fees based on trade volumes, a rewarding referral program, a private and customized OTC desk for those who want to buy or sell large orders, and many more.
Is CoinMENA Legit and Regulated?
In the MENA region, CoinMENA is a company that operates digital assets under official supervision. It is authorized by the Central Bank of Bahrain and concentrates on offering Oman, Kuwait, Saudi Arabia, the United Arab Emirates, and Bahrain residents affordable investment options. Users can deposit and withdraw cryptocurrencies including Bitcoin, Ethereum, XRP, Litecoin, and Bitcoin Cash on the Bahrain-based exchange.
The operators also provide access to Chainlink, which provides Middle Eastern consumers with improved crypto assets. Compound, USD Coin, Uniswap, and Chainlink are just a few of the recent additions to the platform’s portfolio that the exchange operators have made. The website received a legitimate license from the Central Bank and is one of the largest regulated exchanges in the Middle East. All of its users can take advantage of its affordable trading costs and bilingual client support.
Coinmena Withdrawal Proof
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Features of CoinMENA
Competitive Fees
Based on trading volumes, the website offers the most affordable pricing structure. As traders continue to make larger investments, their costs will decrease.
Bilingual Client Support
The CoinMENA website’s bilingual customer service team provides services in both English and Arabic. The website’s traders enjoy their investment trip because to the courteous and supportive customer service system.
Referral Program
By recommending the website to their friends and family using specific referral links, website users can also get payments in actual money as rewards.
CoinMENA Wallets
The platform’s safe crypto wallet is completely under your control thanks to the website. Through the CoinMENA cryptocurrency wallet, users can access their past deposits and withdrawals as well as begin purchasing and selling operations.
rusted Digital Asset Platform
Since the majority of client funds are kept in a secured offline vault that provides the highest level of security, the website is the most reliable digital assets platform.
Officially Regulated
The Central Bank of Bahrain has completely authorized the cryptocurrency exchange as a crypto-asset operator.
Sharia Compliant
The Sharia Review Bureau has given the Sharia-compliant exchange full certification to operate.
CoinMENA Services
MENA Region
The operations of CoinMENA will be extended to other countries. The team will offer investment services outside of the MENA region, according to this report, which reflects a long-term market expansion strategy. Users have access to their accounts to deposit and withdraw currencies including USDT, BTC, ETH, and BCH, among others. Suppose a certain nation is prohibited from using the website. The operators advise customers to subscribe in that situation and to regularly check for news and updates so they may be the first to learn when the parent company and the business grow.
CoinMENA OTC Desk
The website also offers OTC (over-the-counter) desks in addition to its crypto exchange services. Users that sign up for OTC trading benefit from a number of features provided by the provider of digital currency services, including deep liquidity pools, specialized OTC management, aggressive pricing, quick transaction resolution, and complete transparency. Keep in mind that $100,000 is the minimum investment volume on CoinMENA OTC.
CoinMENA Review: Pros and Cons
Pros
- Offers access to over 21 cryptocurrencies, including Bitcoin, Ethereum, Bitcoin Cash, Litecoin, and many more.
- Competitive fees are based on trade volume.
- Trusted digital asset website, officially regulated and Sharia-compliant.
- OTC desk offers a more personalized and private service to those who want to deposit or withdraw a large order.
- The referral program allows users to earn bonuses.
Cons
- Relatively high fees compared to other providers.
CoinMENA Registration Process
At CoinMENA, the registration procedure is one of the quickest, taking only 5 minutes to complete. To begin trading using local currency at the website right now, just follow these easy steps:-
- Visit the official website and select the Sign-Up link on the home page.
- Type in your name, email address, and a secure password after that.
- Adhere to the exchange’s terms and conditions, compliance and anti-money laundering policy, and privacy statement.
- Press or click the Create an Account button.
- An email confirmation will be sent from the website to the registered email address.
- After receiving confirmation, users must click the Verify Email button or paste the link into their browser to confirm the email.
- Users are required to enter their contact information after verification.
- The platform will text the registered phone number a confirmation code.
- The website will take the user to the platform’s dashboard after confirmation so they may immediately begin their trading activity.
CoinMENA Fees
Money Deposits
The CoinMENA website now accepts bank transfers and debit or credit card deposits as payment methods. Although there are no deposit fees associated with bank deposits, there are minimum deposit amounts that vary based on the currency. Regardless of the users’ preferred currency, card deposits are subject to a 3.5% deposit fee.
Money Withdrawals
Money withdrawals at the website are not free. The fees charged for money withdrawal vary depending on the currency chosen:-
| CURRENCY | MINIMUM LIMIT | FEE |
| Bahraini Dinar | 50 BHD | 1.51 BHD |
| United Arab Emirates Dirham | 500 AED | 110.63 AED |
| Omani Rial | 50 OMR | 11.6 OMR |
| Saudi Arabia Riyal | 500 SAR | 112.96 SAR |
| Kuwaiti Dinar | 40 KWD | 11 KWD |
| United States Dollar | 150 USD | 50 USD |
Digital Asset Withdrawals
Because cryptocurrencies operate on decentralized blockchain networks, withdrawals are typically processed almost instantly. The fees associated with digital asset payment methods vary based on the selected currency. For instance, the withdrawal cost for Bitcoin is 0.0006 BTC, 0.0095 ETH for Ethereum, 0.03 BCH for Bitcoin Cash, and 0.08 LTC for Litecoin. In a similar vein, depending on the coin used, different minimum restrictions apply to cryptocurrency payments. To learn more about the CoinMENA fees, traders must review the website’s terms and conditions.
Supported Currencies
Bitcoin, Ethereum, Ripple, USD Coin, Litecoin, Bitcoin Cash, Chainlink, Uniswap, Compound, USD Tether, FTX Roken, and more cryptocurrencies are supported by CoinMENA.
Additionally, the website accepts fiat money such the Bahraini dinar (BHD), Omani rial (OMR), United Arab Emirates dirham (AED), Kuwaiti dinar (KWD), Saudi Arabia riyal (SAR), and US dollars (USD).
CoinMENA Referral Program
An innovative referral program that provides simple ways to earn rewards is available on the CoinMENA website. Existing users can create referral links in their accounts to share and invite their friends. When the invited friends sign up for the platform using the link, build accounts, and make deposits, both parties can earn incentives. Before creating personalized referral links to share with others, users must register and authenticate their accounts.
CoinMENA Supported Countries
Users in Bahrain, Saudi Arabia, the United Arab Emirates, Oman, Kuwait, and Qatar can access the CoinMENA website.
CoinMENA Security Measures
The Central Bank of Bahrain has granted CoinMENA website a category 2 license as a Crypto Asset Services Company, and the business is safe and secure and registered in the Kingdom of Bahrain. In order to safeguard client information and provide the safest possible investing experience, the platform employs a number of security features, such as firewalls, encryption protocols, penetration testing, controls, and a two-factor authentication system. The platform’s servers are monitored around-the-clock.
However, as methods of transfer over electronic storage or the internet are not completely secure, it is the customers’ obligation to safeguard their money. Since cryptocurrency transactions are stored on decentralized blockchain networks and are therefore anonymous, the CoinMENA website does not have any rights to delete, amend, or modify personal data.
CoinMENA Customer Support
Regarding customer service, the CoinMENA website does not offer email or a live chat feature. Users can submit a request from their registered email ID and type their question in the message box if they have any questions about the cryptocurrency website, payment options, referral program, security precautions, account verification and higher limit requests, user account change requests, press, and business development. On the Support page, you may find links to the team’s social media accounts for Facebook, Twitter, LinkedIn, and Instagram. Last but not least, CoinMENA provides a comprehensive knowledge base to share a wealth of information and respond to the majority of client commonly asked questions.
CoinMENA Reviews: Conclusion
The Central Bank of Bahrain’s top-tier licensed cryptocurrency exchange website is called CoinMENA. The website complies with Sharia law and has the best security features currently accessible. The website promises a trustworthy OTC desk and a premier exchange for securely depositing and withdrawing cryptocurrency. With more significant cryptocurrencies now accessible to users in the United Arab Emirates, Saudi Arabia, Kuwait, Oman, Qatar, and Bahrain, the user-friendly platform is growing in popularity. It is a reputable cryptocurrency website offering profitable trading and investing opportunities. However, it still lacks some of the crucial components, such as effective customer assistance, educational content, marketable assets, and many more, when compared to other major competitors in the digital industry.
FAQs
Is CoinMENA Real and Safe?
CoinMENA is a regulated and licensed crypto-asset trading website in the Kingdom of Bahrain.
Is Coinmama’s Mobile App Available?
There is a mobile app available for iOS and Android CoinMENA users.
Is CoinMENA Reliable?
Yes, it is reliable with all the important security measures like two-factor authentication, access controls, penetration testing, encryption protocols, and firewalls.
How Do You Earn Money on CoinMENA?
CoinMENA users can earn bonuses with the referral program available on the platform.
How Do I Withdraw Money from CoinMENA?
Investors can withdraw funds from CoinMENA through debit or credit cards, bank transfers, and cryptocurrencies.
How Do You Use CoinMENA?
CoinMENA is a simple website to use. All users need to do is sign up at the official website with their name, email ID, and password and enjoy the platform’s various advantages and safety measures.
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