CoinZoom is a new US regulated cryptocurrency exchange that allows users to buy, sell, and spend their crypto with the CoinZoom Visa card.
What is Coinzoom?
CoinZoom, established in 2018 and launched for trading in March 2020, is a U.S.-based centralized cryptocurrency exchange headquartered in Salt Lake City, Utah, designed to bridge traditional finance and digital assets. Registered as a Money Services Business (MSB) with FinCEN across all 50 U.S. states and territories (MSB Registration Number: 31000160686786), CoinZoom also holds U.S. Money Transmitter Licenses and is licensed as a Digital Currency Exchange in Australia. The platform supports over 32 cryptocurrencies and 105 trading pairs, including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and ZCash (ZEC), with a 24-hour trading volume of approximately $746,665, ranking 158th globally per BitDegree Exchange Tracker.
CoinZoom offers a comprehensive suite of services, including spot trading, crypto-to-fiat and crypto-to-crypto trading pairs, and innovative financial products like the CoinZoom Visa Debit Card, which allows users to spend crypto at over 130 million merchants and 1 million ATMs worldwide, earning up to 5% rewards. The ZoomMe feature enables free, instant international crypto and fiat transfers to friends and family, while CoinZoom Earn provides up to 7.5% APY on USD and crypto deposits. The platform supports fiat deposits (USD) via ACH, wire transfers, debit cards, and retail cash loading at 30,000 U.S. locations, as well as Apple Pay, Google Pay, and Samsung Pay. Its mobile apps (iOS and Android) and desktop platforms offer three trading dashboards—basic, Pro, and Advanced Trader—with over 100 technical indicators, real-time charts, and order types (market, limit, stop).
Security is a key focus, with CoinZoom employing two-factor authentication (2FA), encryption, and cold storage, though specific reserve details are not publicly disclosed. The platform complies with KYC and AML regulations, prohibiting users from sanctioned countries like North Korea and Syria. However, a 2022 decision to pause new Russian accounts due to Ukraine conflict-related payment restrictions reflects its cautious approach to geopolitics. User reviews praise the Visa card and intuitive interface but note limited educational resources, high trading fees (0.18%–0.44% maker-taker), and occasional customer support delays via email or X. Recent X posts highlight the CoinZoom Visa card’s adoption, with users testing it in Las Vegas and the platform partnering with brands like the Utah Jazz. For U.S. traders seeking a regulated exchange with real-world crypto spending, CoinZoom is compelling, but its smaller coin selection and fees may deter advanced users.
What are the trading fees on Coinzoom?
CoinZoom uses a maker-taker fee model for spot trading, charging 0.18% to 0.36% for makers and 0.22% to 0.44% for takers, based on 30-day trading volume. These fees are above the industry average of 0.178% (maker) and 0.221% (taker). Users can earn 10%–50% discounts through the VIP Reward Program or by holding ZOOM tokens. Crypto deposits are free, but withdrawal fees apply (e.g., 0.0005 BTC for Bitcoin). Fiat deposits via ACH or retail cash loading may incur fees (e.g., $1.99 for Visa/Mastercard), and CoinZoom Visa card usage carries additional costs. Users should check CoinZoom’s fee schedule at coinzoom.com for precise rates.
Does Coinzoom offer leverage trading?
No, CoinZoom does not currently offer leverage trading, margin trading, or futures trading. The platform focuses on spot trading and financial products like the CoinZoom Visa card and Earn program, prioritizing accessibility over high-risk derivatives. Traders seeking leverage should consider alternatives like BloFin (up to 150x leverage) or Nami Exchange (up to 125x leverage), noting regional restrictions.
Is there a research audit report for Coinzoom?
CoinZoom does not publicly disclose comprehensive third-party audit reports or proof-of-reserves data, with exchange reserves listed as unavailable on CoinGecko and CoinMarketCap. The platform emphasizes security through 2FA, encryption, and cold storage, and its FinCEN registration enhances regulatory credibility, but the lack of transparent reserve audits raises concerns compared to exchanges like WOO X or Kinesis Money, which provide reserve dashboards. Users should approach with caution and monitor CoinZoom’s official channels for updates on reserve transparency.
Is Coinzoom safe?
While many major CEXes boast stronger firewalls than most governments, history has witnessed numerous instances where exchanges have fallen victim to hacks, resulting in the loss of customer funds. DEXes are generally safer option as you have control over your funds at all times as long as blockchain is up and running. It's all based on contract code so you can clearly look at what's behind the scenes, and how their contracts work.
Does Coinzoom have customer support?
Almost all exchanges provide customer support, but the quality, speed and continuity of this service varies from time to time depending on the budget conditions of the companies. We recommend that you experience the customer support service provided by the centralized crypto exchange by asking a question to the support section on its website.
