In this post we will take a detailed look on How To Use CobinHood Exchange App;
Step 1: Visit the official CobinHood site HERE .
Step 2: Scroll down to the Apps section ( It reads “Cobinhood Exchange Apps” ). You have the links to Google Play Store and Apple App store. Click the link you want > Opens the respective App stores.
Step 3: Tap on the Install button ( If your mobile prompts with any messages, hit OK ).
Step 4: You will see the app getting downloaded & installed ( will take a few minutes, based on your internet speed ).
Step 5: Once the app is installed, Tap on the Open button.
You are now all set to begin your crypto venture on Cobinhood!
The landing page of the application [Home] consists of a space where advertisements are laid out, which are directly linked to updates that are running in the application itself. It also has 4 other tabs under the heads;
- Financial Products
- Coin Offering
- Market Info
A live market update is also shown on this page, in comparisons with the other cryptos that are available on the application. On the bottom are another set of 5 tabs.
To activate all the offerings of this application and to get the best service, you need to sign up for the application.
The Signup Process
The wallet option cannot be accessed without signing up on the app. Therefore it is mandatory that you registered yourself an account on Cobinhood. To do this, tap on the “Account” option found at the bottom of the screen.
Account > Log In > SIGN UP
[Make sure you check the small box that is found on the next page, whereby you agree to adhere to all the policies of the app] and click “NEXT”. The next step is to create your account, by entering all your credentials. Enter your Email, Password and a Referral Code (if you have one.) It is also important to make sure that your password is not weak, else the page will not allow you to proceed. Next, check the two boxes at the end. Once you are done, Hit “Sign Up”!
Once you are done with that, the app will send a verification mail to the email address that you had used to sign up on the app. Incase you don’t receive the verification mail, you can hit the RESEND option, after the stipulated time gets over. Now open the mail that you have received from Cobinhood and hit on the “ACTIVATE YOUR ACCOUNT” green colored link!
On clicking the “Activate” option you will be redirected to the wesite and the confirmation will be shown. You will then have to sign in again to access your account. Congratulations your account is now fully functional and you can start trading.
Setting Up A Two-Factor Authentication
1) Click Account > Security
2) Choose between two options, two-factor authentication via SMS or Google Authenticator. At this time, you can only pick one.
If you wish to receive the code via SMS, you will be asked to key in a valid mobile number where a unique number combination will be sent.
Else, to access the code via Google Authenticator, you need to download this app on your phone to scan the QR code where your access code will be revealed.
4) Key in the code you received via SMS or Google Authenticator on the 2FA window on your profile then Verify.
If successful, you should receive a 2FA Activation Request on your registered email.
5) Click Activate 2FA Now on the email to confirm this action.
After clicking, you will be redirected to a confirmation window and receive another email to confirm that your 2FA setting has been updated. Once your 2FA is activated, the system will ask for a 2FA code sent to you via SMS or from Google Authenticator whenever you log in, request a withdrawal, or add a new IP address. You will also receive a Successful Authorization email for every successful verification you perform on the platform.
To deposit or withdraw tokens to or from your COBINHOOD account, your account needs to be verified.
How to get verified;
1) Once logged in, click the top right button for the menu to slide out.
2) Click Account > Identity Verification.
3) Choose which level you want to apply for.
4) Provide the necessary information accordingly.
Making a deposit on Cobinhood
Follow these quick steps to deposit into a COBINHOOD Exchange account:
- Once logged in, Click on “Wallet”. Next click on the “DEPOSIT” tab.
- Use the search field to find the token that you want to deposit in the wallet and click on it.
- A deposit address will then appear which you can copy by clicking the Copy Address button. Alternatively, scan the QR code. Use this deposit address to transfer your assets into COBINHOOD Exchange.
- You will receive an e-mail confirming your deposit. If you do not receive it, make sure that you immediately contact the support team on [email protected] or via the support widget (Web).
Withdrawing your tokens on Cobinhood
Follow these quick steps to withdraw from a COBINHOOD Exchange account:
- Once logged in, Click on “Wallet”. Next click on the “WITHDRAW” tab.
- Use the search field to find the token that you want to withdraw from the wallet and click on it.
- Select the external address to which you want your tokens to be sent to. Type the amount you want to withdraw and later when everything is set, hit on the “SUBMIT” button.
Cobinhood is one of the latest exchanges to join the cryptocurrency service platform. With a vision to shape the future economies by creating a crypto financial center, Cobinhood is a place for dreamers and doers. With the latest technology on board, Cobinhood is a step ahead of all the other exchanges in the industry presently. COBINHOOD supports bitcoin, Ethereum, Tether, Litecoin, Bitcoin Cash, NEO and more than 40 altcoins along with multiple trading pairs. They run both centralized and decentralized trading platforms with plans to migrate the centralized exchange onto the decentralized trading platform.
COBINHOOD promotes investor security as a top priority, as evidenced by features like two-factor authentication, an offline vault, insured (in the case of the centralized exchange) online wallets, multi-signature wallets and more. There are no major security breaches to speak of since the exchange went live in December 2017. More than 13,000 users signed up for the exchange on their debut trading day.
The decision to create a zero-fee trading platform came from Chen’s [CEO] personal experience trading cryptocurrencies, in which he said he felt like he was being robbed when he discovered the cut that the exchanges were taking. That was the inspiration for offering zero-fee trading to investors, but COBINHOOD still must earn money, and they do so via a two-pronged business model. COBINHOOD attaches an interest rate to the loans they provide for margin trading of up to 10x leverage, and they generate revenue from the ICO underwriting business.