Coinhako Reviews 106

I have used Coinhako for about 4 years now. I just tried to transfer money out for the first time (a $100 payment). The multi-part authentication process they emailed me was stunning, the worst request being a selfie holding both my ID card and a hand-written note with details of the transfer, held beside my head - basically impossible to do without some part of the photo going out of focus. After sending to Coinhako, they then claim they cannot approve because the photo is blurred. I attempted this 4 times, took more than 1 hour. It appears Coinhako is scammy, and all the 1-star reviews are warranted. I first opened an account with them based on a recommendation from a friend in Singapore (I am PR), and I also saw their advertising and PoS promos at restaurants, they look legit. I know Singapore can go overboard on security, but Coinhako has taken it to the next level. I wonder if the CEO has ever tried the selfie process? Or defined it as is, impossible for people to make withdrawals? Coinhako claims to be “ensuring my security” by denying me access to my funds due to an impossible KYC process. Avoid. Side note: I am currently in Sri Lanka; using Wise, today I added a new local recipient and transfered money to them, all done in 1 minute.

𝗪𝗼𝗿𝘀𝘁 𝘀𝘂𝗽𝗽𝗼𝗿𝘁 𝗮𝗻𝗱 𝗮𝗽𝗽 𝗪𝗼𝗿𝘀𝘁 𝘀𝘂𝗽𝗽𝗼𝗿𝘁 𝗮𝗻𝗱 𝗮𝗽𝗽! 𝗜 𝗻𝗲𝘃𝗲𝗿 𝗿𝗲𝗰𝗲𝗶𝘃𝗲𝗱 𝗺𝘆 𝗺𝗼𝗻𝗲𝘆 𝗮𝗻𝗱 𝘁𝗵𝗲𝗶𝗿 𝘀𝘂𝗽𝗽𝗼𝗿𝘁 𝗱𝗶𝗱𝗻'𝘁 𝗵𝗲𝗹𝗽 𝗮𝘁 𝗮𝗹𝗹! 𝗥𝘂𝗻 𝗳𝗿𝗼𝗺 𝗶𝘁 𝗜 𝗴𝗼𝘁 𝗺𝘆 𝗿𝗲𝗳𝘂𝗻𝗱 𝗮𝗳𝘁𝗲𝗿 𝗜 𝗿𝗲𝗽𝗼𝗿𝘁 𝘁𝗵𝗲𝗺 𝘁𝗼 𝘁𝗵𝗲 𝗻𝗮𝗺𝗲 𝗼𝗻 𝗺𝘆 𝗽𝗿𝗼𝗳𝗶𝗹𝗲

This website is an absolute nightmare. I deposited my money, and when I tried to withdraw, I was suddenly “restricted” without any explanation. Customer support is nonexistent, and all I got were automated responses. I have lost $2000 before realizing it was a scam. Thankfully, the name on my display picture helped me recover my funds. Stay far away from this shady platform.

It a scam please be save out there, I was on of their victims

DO NOT USE.
IT IS A SCAM/ FAKE website, that does not let you make withdrawals.
Hence you lose all your deposited funds.

I was trading with coinhako almost 4 to 5 month and I was doing very good in trade but only problems I found which is more then 3 month now that not letting me to withdraw any of amount, and customer service also failed to reply, as I found this coinhako completely scam and fruad.

I have come to the conclusion that this is indeed a dubious exchange. I have made request for sending out my tokens to my wallet and having jumped through the hoops of verifying with the disclaimer etc have not receive my tokens. This is coming to 2 weeks. Every email I sent is answered mechanically requesting more information which despite my dutiful compliance is met with more of the same. I fear I may have been duped. I am willing to correct this review if the act quickly to effect my transactions immediately.

I never give review but for coinhako I must write this negative experience. You can open account and is easy and fast but if you are not resident in Singapore you not be able to buy to sell any crypto. If I can't do anything, why do you let me open the account?
It is very stupid. Bad experience.

The most stupidest exchange coinhako . Crypto should be fast lighting when. Withdrawal or transfer wallets. Guess what they ask for more un necessary verification like stupid picture take and sent them with id card of yourself holding it. Stupidity of this exchange. Close it. Coin hako stupidity. Bankruptcy soon . They will probably lock your funds becareful

Worse experience ever, They keep asking me to invest more for my assets to become withdrawal able. i advise, do not make more investments. Report them instead to the right authorities.
I regret ever listening to my friend about them thinking they were good people to invest in!
thank you phantomgeeks for your investigation.

Scam, really bad experience, still waiting for my money.

absolute dissatisfaction

Be prepared, if you decide to withdraw funds for the first time - everything will go flawlessly. Then everything is much worse, your request will be under consideration, without any progress. Then you will be asked to go through full authentication, after your requests. Then you will be asked to make a deposit in order to withdraw funds, which will supposedly be returned to you. Everything smells of frivolity and deception. Be careful, I have not yet been able to withdraw my funds and am very unhappy with such a shady scheme for working with clients.

I have been a customer of Coinhako for several years, but unfortunately, my experience has been consistently disappointing. One of the main issues I have encountered is the repeated need to verify my account each time I attempt to withdraw crypto or fiat, even when using the same crypto address. This process is not only inconvenient but also time-consuming and frustrating.

Additionally, the customer support at Coinhako has been consistently poor. Responses are often delayed, and the assistance provided is inadequate, leaving issues unresolved for extended periods.

Despite being a loyal user, these recurring problems have significantly impacted my overall experience with Coinhako. Improvements in the withdrawal process and customer support are crucial for retaining long-term customers.

When i try to withdraw they ask for a selfie which i provided more than 10 times on different days and different days and they always say its not good they wont release my funds I don't know what else to do this company act like scammers!!

Transferring of crypto to another exchange is manual and tedious. even if you sent asset to the same freaking address before. very lousy

The same excuses experience by previous customer.
Very bad customer support. Email reply always the same answer even though documents require by them is despatch and send.

Avoid Coinhako at all cause. Your money will be stuck,
even if can profit handsomely thru trading.

THIS IS THE WORST PLATFORM EVER, MY ACCOUNT GOT LOCKED, COMMUNICATED WITH THEM THROUGH EMAIL , ASKED ME TO TAKE A SELFIE WITH MY I.C .

MY ACCOUNT GOT UNLOCKED AND LOCKED AGAIN FEW MINS LATER, MARKET CRASHING AND I CANT EVEN SELL .

NOW THERES NO REPLY ANYMORE

PLS AVOID AT ALL COST

Sold my USDT for SGD on coinhako and did SGD withdrawal to my bank. Withdrawal status is on pending since 23th November 2022. Send email to helpdesk without any reply.

Updated
Fiat received on 1st Dec 2022.

I have use many exchanges in the past, this is the worst. Brought some BTC with them to send to my own wallet during a dip, I thought it will be a breeze, but never have I know, it took half a month(!!) for them to send out(finally!!) with their send out KYC policy. They will, not reply you, tell you that your KYC is wrong, kept asking for your KYC and not reply you, closing the ticket when the issue isn't resolved at all! If not for the pressing and "stronger words" and opening a new ticket and sending them their KYC in the same email, I think they will consider to drag. Please, for your own safety, avoid them at all cost.

I wonder how does Coinhako earn its 4+ rating on Apple AppStore. This app is incapable of handling high volume transactions, often causing me to lose out, or the app just crashes. Whenever I do a transfer to another exchange, the support team will write in email to verify some details and take a lame selfie for verification purpose, when my account is already verified.

Moreover, I have to write in to ask for the status of my transaction as it was pending for over 20 minutes, when the transaction is supposed to be 3-5 minutes max, which resulted in an opportunity cost.

Seriously, the company needs to look into its KYC process and also invest in the whole system architecture, and not make it so cumbersome for users. And your support team should look into response time to the users. Timing is critical.