Coinhako Reviews 106

I bought $2k SGD before 2.00pm and was in within the day.

I had withdrawn money from their platform. I had still yet to receive them after 2 weeks.

Had Contacted them via email and their support platform but no one is responding. No updates and what so ever.

On top of it,their fees are high, I thought at least the service was good but no. It is the worst.

Worst or non-existent customer service and funds do not get credited on time!

Coinhako is a brokerage and not a crypto exchange. So basically this means they are a middleman between you and an exchange like coinbase, Binance, etc.

Their fees are excessive. Upfront you are charged a 1% fee per transaction, you can redeem Coinhako points for 25% discount on the fees which brings down the transaction fee to 0.75%. However what is not transparent is the spread that they makan from on the FX and the Crypto price as well. Example: You buy 1 ETH, the price for that 1 ETH on Binance is USD 2200, but you pay USD 2202 when you get it through Coinhako (Coinhako buys it through Binance and sell to you). So if you add up all the cost, it is very excessive!

Do not use this exchange
Sent 15,000 SGD from my bank to the exchange. No deposit has been made for a week. They claimed it takes 1 business day. Very likely its fraud.

ABSOLUTE worst crypto exchange out there. Complete scam with ridiculous spreads and non existent customer support. AVOID AT ALL COST. you have been warned!

Horrible service. Use them at your own risk. I had problems transferring my crypto from Coinhako to my hardware wallet. Sent them emails every 3-5 days. It's been 2 weeks and no reply. The authorities should investigate their dirty business practice and shut them down.

Very bad customer service! Wanted to reset 2FA but kept getting told for 3 times that quality of photo is bad. They are actually just too lazy to change it for me!!

I'm reading the horrible reviews, but I didn't experience anything bad using Coinhako. The website did crash last week I think due to high volume of trades. As for their fees, its like this:

Credit Card Fee (if using card to purchase crypto) 3%
Coinhako Fee 1%
Network Fee (depends on the currency)

I was buying Etherium and noticed their network fee is double compared to other places. Network is always 0.012 ETH. Other places are usually 0.005 or 0.006. So if you bought SGD100 worth of ETH and wanted to send it to another wallet, at the current price (13FEB)it would be around SGD28. Not sure about the other currencies since it wasn't my focus.

Registration wasn't an issue as it was just through SingPass. If not using Credit Card, you will need to add either Coinhako account or Xfers Account to your banking services to make transfers. Xfers transfers will be immediate but Coinhako, they will only check for deposits into their account twice a day.

I've bought a few different cryptos already on the site, like I said didn't come across any issues whatsoever. Its a simple interface, easy to use. No issues with transferring your coins to other wallets.

Giving 4 stars due to high fees I guess.

Oh forgot, when the website crashed and couldn't use the whole night till next morning, I did send them an email to complain, they did reply me the next morning with apologies etc.

Coinhako has a simple user interface and seamless payment system.

However, I had a terrible experience today when BTC hit an all-time high and I was unable to recognize my returns because the site was down!

This was when I found out it happened before when XRP hit an all-time high as well.

This is highly unacceptable for a wallet site to just take downtimes as and when without prior warning and when the market is in a critical state.

People end up losing lots of money due to unrealized gains and all coinhako does about that is a simple textbook apology.

I reiterate, this has happened before, I highly recommend against using coinhako.

Coinhako Singapore really has the worst customer support ever.
They do not respond, nor do they even bothered to update or indicate to clients whats happening to the issues being raised.
Totally a useless exchange and will only give those who uses this platform a severe headache and sleepless nights.
Avoid Coinhako at all costs.

Rgds
JasonC

Absolutely terrible way to buy crypto. They charge crazy high fees plus the spread which is rarely advertised. Depositing money is painful and their system will fail at absolutely the worst time. Writing to customer support is no use as they will take forever to respond. Why ther is no withdrawal via Xfers? Because they want to charge more fees to take your own money out. Check out other easy to use platforms like Luno or Gemini. Taking my money out and moving to better offferings. Learnt my lesson.

I bought coin for my friend and withdraw to his wallet , Status show pending and hold forever . Contact to support but no one response to me . I lost my coin i already refund to my friend 's money . I think they are not legit need to report to MAS . I hope other people will not get into trouble as my case ..

I lose money because they delayed due to their system having issue.
Please do not join. Waste money! Because if the time delayed I bought MKR at high price and sold low just because of their min plus their charges quite high 0.8% but their rate not accurate. Totally cheating ppl money and when you tried to contact them their support but no one will bother to reply. Please compensate your customers!

The email confirmation doesn't arrive if you wanna withdraw out from Coinhako. You will never ever get the money or coin out of Coinhako. The support team is terribly poor and you will not be receiving any response from their support team. COINHAKO IS DEFINITELY SCAMMING PEOPLE MONEY. CONSUMER SHOULD REPORT THIS SCAM TO SINGAPORE POLICE AND MAS!

Inveterate spammers who send mail again and again and again despite multiple attempts at unsubscribing. Ask yourself: do you feel comfortable placing your coins with a bunch of folks who can't even seem to manage their mailing lists properly?

DO NOT USE! They will hold ur withdrawals for no reason, a report to MAS should be made about this company.

WARNING! COINHAKO SCAM ALERT!!! Beware guys, please don't ever deposit money in your wallet. Their customer service will never give you a satisfactory answer. The payment will not reflect in your wallet and they will hold it for no reason and ask you to pay ransom for your own money. The admin will keep increasing the ransom and ask you to transfer them in bitcoins and promise to release your money if you pay a certain amount but they will keep increasing the amount until you will have no more left to ransom your deposit. End up you lose money even more and more and more. They are scammers and robbers. I have had a very bad experience with them and would like to share this for public awareness. Please withdraw whatever money or bitcoins you have with them or you will be in deep trouble. Pull them out now before it's too late...You will thank me for writing this warning. I have kept so many evidence for proof!