Coinstore Exchange Review: OG Score & Community Audit

Coinstore is an exchange operated from Singapore that offers spot and futures trading but does not serve users in the US, Singapore, mainland China or Hong Kong. It does not publish Proof of Reserves and Trustpilot reviews include many unverified reports of frozen accounts and blocked withdrawals.

Platform Background & Leadership

Coinstore was founded in 2020 by Johnson Zhao, who is CEO and Jennifer Lu and is operated by COINSTORE PTE. LTD. in Singapore. It launched trading in April 2021 and says it has more than 10 million users in about 175 countries. Coinstore is a member of the Singapore Fintech Association and it has no native exchange token.

Coinstore Security Track Record

No major hack of Coinstore has been publicly reported. Coinstore says it keeps about 70% of assets in cold storage and uses AES-256 encryption, 2FA and KYC. As of our latest review, it did not publish Proof of Reserves, so users cannot check its reserves against customer balances.

Its Trustpilot page shows a low rating, with many reports of frozen accounts, withdrawals blocked after profitable trades and slow support (Trustpilot: Coinstore). These are user reports that Trustpilot does not verify and they do not prove wrongdoing, but they are a common theme in public reviews.

Auditors in our community give Coinstore a score of 13.1 across 5 reviews. The missing Proof of Reserves and the number of withdrawal complaints are the main concerns in our assessment.

Coinstore Fees & Fee Structure

Coinstore spot fees are 0.20% maker and 0.20% taker and futures fees are 0.02% maker and 0.04% taker. There are no direct fiat deposits, so buying crypto by card through third-party processors adds extra fees.

Coinstore Staking & Earn Products

Coinstore offers staking, IEO participation and promotional events. Locked products cannot be withdrawn until the lock-up period ends, so the early exit terms are worth reading before depositing.

Trading Experience & Platform Features

Coinstore offers spot and futures trading, with up to 100x leverage on futures, through its website and mobile app. Volume figures for smaller exchanges can differ between data providers, so the order book depth on the pair you plan to trade says more than headline volume.

Coinstore FAQ

Does Coinstore publish proof of reserves? No. As of our latest review, Coinstore did not publish Proof of Reserves.

Is Coinstore available in the US? No. Coinstore does not serve users in the US, Singapore, mainland China or Hong Kong.

What do users complain about on Coinstore? Trustpilot reviews include many reports of frozen accounts, blocked withdrawals and slow support. These reports have not been independently verified.

To bring you this Coinstore breakdown, we reviewed public sources like the Coinstore Official Website, Coinstore X (Twitter) Account. We provide these insights strictly for education and research, not as professional trading advice. If something looks incorrect or out of date, drop us a line through our contact form.