After a long time and many tries to buy some tokens from the Coinlist ICO’s – token sales, I finally succeeded. In the last token sale line, I got lucky and entered with the first 2000 users, triumphing in purchasing some Covalent CQT tokens. I believe that in the Coinlist ICO’s are one of the most impressive blockchain projects, and that’s why is so hard to buy. Keep on reading my Coinlist review to find out more about this platform, the Coinlist mobile app, Coinlist exchange, how to enter the token sales, and a little trick on how to avoid the high fees. Also, if you are a new user of Coinlist, you can benefit from $10 in Bitcoin for free, if the sign-up is done with my referral link, and once you make a trade of at least $100.
Other referral terms and conditions apply, with Coinlist having a limited referral amount per month. Therefore, depending on the time when users register, there can be the possibility of not remaining funds for the referred users.
Table of Contents
What is Coinlist?
Coinlist is a digital asset platform and a great blockchain project, overlooking the fact that is going to give you some headaches when you are in the 144,000th place in the token sale round, and not just once. But, I finally succeeded to buy some tokens. Maybe we just need to be lucky once, and regarding this, I can’t wait for the Covalent token to hit the crypto markets.
So, the Coinlist platform offers many tools which come in handy for crypto enthusiasts. Firstly, the token sales, which in my opinion is the best feature, and also that the Coinlist platform, is the launchpad for some of the most impressive blockchain projects. Therefore, the lucky Coinlist users can make some huge gains from these token sales. The second feature in line would be the staking process, where users can earn up to 32% APY, from different crypto assets. And while you wait for a token sale, you can earn cryptocurrency. Also, with the Coinlist PRO, users can trade their cryptocurrency assets held in the Coinlist wallet.
Coinlist is also available as a mobile app, supported by both Android and iOS operating systems. More about the app below, in this Coinlist review.
Coinlist token sales – ICO
Every user who wants to take part in a token sale will need to pass the KYC/AML ( know your customer/ anti-money laundering ) verification procedures. The verification process is pretty fast, and the platform doesn’t ask for many documents. In my case, I only needed my passport, but users can choose from any government-issued document. Also, a selfie, my name, my address details, and a utility bill.
Once you are a verified user, entering a Coinlist token sale is very easy. Users will just need to access the token sale section and register for a specific blockchain project, where many campaigns will be available regularly. Also, depending on every project, there can be more than one sale for the same project, but with different terms and conditions. In this case, users can choose for the sale they want to register, or it can be for all sales.
For every blockchain project that holds a token sale on Coinlist, there will be different terms and conditions applied. For example, the residents from different countries are not eligible to enter a specific token sale. Therefore, anytime you want to enter a Coinlist ICO, read carefully the terms.
After a successful registration process for a token sale, users will just need to wait for that sale to begin. Also, Coinlist will send e-mails with a link to every registered user, before the token sale starts, approximately 2 hours in advance. With this link, users will enter a token sale waiting room, and after the sale starts also the fun begins. Users from the waiting room will be assigned a token sale place, based on randomness. Also, the users who enter after the token sale starts will be placed after the users who were in the waiting room. Anyway, only the users who are lucky enough to receive a good place in the token sale will be able to buy tokens.
As a personal experience, in every token sale that I entered, the maximum number of users who were able to buy was around 40,000. And in most sales, there will be more than 300,000 users registered. Therefore, say your prayers and hope for a good place.
Also, be informed that once is your turn to buy tokens, you will only have 10 minutes to make a purchase.
Next token sale on Coinlist
The next Coinlist ICO is the Centrifuge blockchain project and it will start on May 26, 2021. But the sale registrations are already opened, and they will last until May 21, 2021. The Centrifuge CFG token will have two sale phases. In the first sale, the CFG token will have a price of $0.55, and the tokens purchased will be unlocked on July 14, 2021. In the second sale, the CFG token will have a price of $0.38, but the purchased tokens will be released linearly over a 2 years stage, starting with July 14, 2021.
The interested users can enter both CFG token sales. But be informed that the maximum capital per user and per sale to purchase tokens is $500. Therefore, if a user is lucky enough to catch a good place in both token sales, he can purchase tokens valued at a maximum of $1000.
Centrifuge is a blockchain project built on the Polkadot blockchain, and it will connect real-world assets with the DEFI world. Although the Centrifuge chain is built on Polkadot, the Dapp is bridged on the Ethereum blockchain. Therefore, Centrifuge can access the biggest liquidity from DEFI, which is on the Ethereum blockchain, and the biggest speed from the blockchain world, which is Polkadot.
Users of Coilist can view in-depth articles on the website, about every project that holds a token sale on Coinlist. Interested crypto enthusiasts in the Centrifuge token sale can find out more once registered on Coinlist.
Staking cryptocurrency on Coinlist
There are not many cryptocurrencies that can be staked on Coinlist. But, as I use the Coinlist platform, especially for the token sales, while I wait for a Coinlist ICO, the staking process brings earning possibilities until a token sale begins.
The staking cryptocurrencies are NuCypher – NU with an APY of up to 32%, Terra USD – UST with an estimated APY of 20%, Flow with an estimated APY of 5%, Celo – CELO with an estimated APY of 5,2%, Algorand – ALGO with an estimated APY of 5,18%. Celo and Algorand will automatically start gaining interest once users deposit them in the Coinlist wallet. The rest of the crypto assets will need to be transferred to the staking wallet.
Note for every reader that the interest APY rates can change at any time, and the rates presented in this Coinlist review are at the time of writing this article. Also, as I always say, everybody should do their research before investing in cryptocurrency.
Regarding the rewards on the Coinlist platform, users can find learning articles and answering some simple questions, can bring cryptocurrency rewards. For example, at the time of writing this Coinlist review, is a learning article about Orchid Protocol, which can bring $5 in the native token OXT – Orchid, for free.
The Coinlist exchange
The platform offers a quick crypto exchange and a classic cryptocurrency exchange, which is the Coinlist PRO. The fast exchange can be accessed in the BUY & SELL section, where users can rapidly switch between two crypto assets, or even between the US Dollar – USD and any supported cryptocurrency.
The US Dollar can be deposited via Wire transfers. At the time of writing this Coinlist review, the bank transfers seem to be temporarily disabled.
The Coinlist PRO exchange also offers a trading terminal for crypto traders, where users can trade their supported Coinlist crypto assets in different pairs. For now, the exchange doesn’t support many cryptocurrencies, but as I see it, Coinlist regularly ads more.
Supported cryptocurrency assets
For now, Coinlist supports the following cryptocurrency assets:
- Bitcoin – BTC;
- Ethereum – ETH;
- USD Coin – USDC;
- Wrapped Bitcoin – WBTC;
- Orchid Protocol – OXT;
- Maker – MKR;
- Algorand – ALGO;
- Celo – CELO;
- Dai – DAI;
- Ocean Protocol – OCEAN;
- NuCypher – NU;
- Tether – USDT;
- Celo Dollar – cUSD;
- Uniswap – UNI;
- ChainLink – LINK;
- tBTC – TBTC;
- Filecoin – FIL;
- Numeraire – NMR;
- Tezos – XTZ;
- Compound – COMP;
- Terra Dollar – UST;
- Skale – SKL;
- Flow – FLOW;
- Aave – AAVE;
- Internet Computer– ICP;
- Casper Network – CSPR.
The Coinlist app can be used as a mobile crypto wallet, where users can deposit and withdraw cryptocurrency. Also, in the mobile app users can use the fast exchange to switch between cryptocurrencies. Classic trading is not yet available in the app.
Coinlist app is available to download from Google Play Store and Apple Store, being supported by both Android and iOS platforms.
The token sales section is not available on the Coinlist app, but mobile users can utilize the mobile browsers to register in any sale, and purchase tokens. Also, regarding the token sales, be informed that specific projects might require additional wallets or browser extensions that will not be available on mobile devices. Therefore, every time you want to join a Coinlist ICO, read carefully the terms and conditions.
A not-so-fun event that happened with a friend of mine, he reached a good spot in the token sale, he was next in the token sale to purchase tokens, but didn’t install a wallet extension. Therefore, only having 10 minutes to purchase the tokens, he missed the sale.
How to avoid the high fees?
As I promised at the beginning, I will tell you my little trick on how to avoid high fees and save some time with your deposit and withdrawal. I use one cryptocurrency to deposit and withdraw from Coinlist, and this one is CELO, which has very low transactional fees.
But be informed that regarding the deposit of CELO, Coinlist has a few partnerships with custodians and exchanges, which will make your transaction go faster. For example, Ledger wallets, Anchorage platform, Bittrex exchange, and OKCoin exchange. The one that I frequently use and from which I can buy CELO directly with my bank card is the Bittrex exchange.
Once you have deposited CELO into your Coinlist account, you can leave like that and earn interest, or simply exchanged it in USDC, USDT, or any other cryptocurrency. Also, keep on notice that when entering in token sales and buying with USDC and USDT, there will be no fees in most token sales carried on Coinlist.
Overlooking the Coinlist suggestions regarding the CELO deposits, the first time when I deposited CELO in my Coinlist account, it was to transfer some from my Binance account. That was not a good idea. The transfer took more than 5 hours. Therefore, it can be done, but it will take a lot of time to reach the Coinlist wallet.
I really like the Coinlist platform, with its best feature, and this is the token sales. Coinlist holds some of the biggest token sales of the most impressive blockchain projects. Therefore, with some good research, users can easily find their next gem, before striking the crypto markets.
The Coinlist ICO’s can bring huge gains for every lucky user, just take a look at the most recent one, the Mina Protocol token sale, which was carried on Coinlist at a price of $0.25. Furthermore, at the time of writing this Coinlist review, MINA has a price of around $66, with an all-time high of more than $170.
That’s it for this review. I hope it is helpful to you, and don’t forget that new users will benefit if the sign-up is done with my referral link. $10 in Bitcoin for free, once the new user passes the KYC verification and makes a trade of at least $100. Also, other terms apply, therefore, for a better understanding, new users can read the referral terms on the Coinlist website. For example, one of the terms is the Coinlist referral allocation amount, being a limited monthly referral fund.
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This Coinlist review is intended for informational purposes only. Therefore, the views expressed in this document are not, and should not, be construed as investment advice or recommendations. Readers of this document should do their own research, taking into account their specific financial circumstances. Also, the investment objectives and risk tolerance before investing. This document is not an offer, nor the solicitation of an offer, to invest, buy or sell any of the assets mentioned herein.
This Coinlist review article might contain affiliate/referral link(s) or referral codes. All this means that I may earn advertising/referral fees if you purchase/register through my link.
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