CoinMena Review

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CoinMENA is a relatively new Sharia compliant crypto exchange from the Middle East. Traders choose its services because of its competitive fee structure, simple to use trading app and a great customer support. CoinMENA is a secure exchange for retail and institutional clients licensed by the European Union and the Central Bank of Bahrain. In 2022, CoinMENA started to offer new in-demand digital assets. It follows strict rules under the Central Bank of Bahrain supervision. Compared to the bigger player in the industry like eToro, CoinMENA is still lacking in trading features, asset classes and supervision.

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CoinMENA Overview 

CoinMENA is a fully regulated crypto-asset exchange in the MENA region. It focuses on offering competitive services to clients from: UAE, Bahrain, Saudi Arabia, Kuwait and Oman. This exchange offers popular crypto assets, including BTC, ETH, XRP, LTC, and BCH. It offers access to Chainlink to bring enhanced assets in the Mena region.

The exchange includes four other popular digital assets in its portfolio. The new coins available are Chainlink, Compound, Uniswap, and USD coin. CoinMENA is the only regulated exchange in the region to receive a license from a central bank. The Central Bank of Bahrain oversees its activities. It offers bilingual client support and competitive fees.

Fees

Coinmena charges a trading fee of 0.75% for each trade which is industry average.

The minimum deposit amount for UAE users is $100 and differs based on your citizenship.

Deposits & Withdrawals

Bank and all crypto deposits are free of charge, card deposits cost 3,5%.

Coinmena-deposits

The minimum withdrawal amount is $150 for UAE users. The costs for money and crypto withdrawals are below:

Coinmena- withdrawals
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Coinmena Vs eToro

Coinmena is a new player in the industry with great ambitions in the Gulf region. They are expanding their business fast by adding new coins to their portfolio, new features and new countries. Compared to the bigger players like eToro, Binance, Kraken and other exchanges they are still laking in assets, trading features, demo account options and educational material.

Compared to Coinmena eToro has a similar fee structure, but they offer more assets, copy trading feature, an advanced trading app and easy account opening. eToro has a better trust score based on their long standing tradition, tier 1 and 2 licenses from different regulatory bodies.

Summary 

CoinMENA has a top-tier license from the Central Bank of Bahrain. It is certified Sharia-compliant and follows the best safety measures available today. The Coinmena OTC desk is reliable. It is a top exchange to deposit, trade, and withdraw digital assets safely. All its services are user-friendly, and the new coins in its portfolio attract more and more customers. CoinMENA is available in the UAE, Saudi Arabia, Bahrain, Kuwait, and Oman. It is a trusted digital asset platform with cryptocurrencies lucrative investment opportunities. Compared to the big players in the industry it still lack in trading features, tradable assets, educational material.


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Methodology 
Business24-7 aims to help those interested in cryptocurrency make safe and informed investing decisions. We are dedicated to offering our readers unbiased reviews of leading cryptocurrency exchanges for traders at all levels. Cryptocurrency exchanges are included in our reviews if they are safe, liquid, regulated by proper authority, or decentralized. 

Disclaimer:
All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.

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Braden Chase is an investor, trading specialist, and former research specialist for Forex.com who helps aspiring investors develop the confidence and habits they need to make an income from the market. Braden has served as a registered commodity futures representative for domestic and internationally-regulated brokerages and has also spoken & moderated numerous forex and finance industry panels across the globe.

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