Coinhako is Singapore’s most established homegrown Bitcoin platform
Coinhako provides the Asian market with an easy and secure way of buying and selling cryptocurrency.
Founded in 2014, Coinhako is a leading digital assets wallet from Singapore and one of the longest-standing platforms in the Asia Pacific region. The platform provides safe but simple access to Bitcoin, Ethereum, and other digital assets for more than 200 000 users.
Coinhako is homegrown and was established by Singapore National Service buddies and industry experts, Yusho Liu and Gerry Eng. It was built on the vision of easy and seamless access to bitcoin and cryptocurrencies for the mass market in Asia and handles multi-million dollar daily trading volumes.
Coinhako could be seen as Singapore’s very own “Bitcoin incumbent business” as the industry only began with the emergence of Bitcoin in 2009, and Coinhako followed fairly soon after. Ever since then, the company remains one of the most trusted crypto brokerages in the region, according to Matthew Tan, the Founder of Etherscan.
What can users do on Coinhako?
Coinhako users only need a small amount of cash to buy bitcoin and a wide range of cryptocurrencies on the platform – users will only need as little as S$30 to make a purchase in Singapore. This is one of the key features of the platform that reduces the friction beginners face when starting on cryptocurrencies.
Developed for convenience and seamless trading, Coinhako also functions as a bitcoin wallet that allows users to trade bitcoin with local currencies and other cryptocurrencies on the go. This is in addition to everyday transactions that can be made using the mobile app, like sending bitcoin as payment for goods and services. The wallet can easily be topped up with your local currency so that you can start trading in no time, and it’s available on web browsers, the App Store, and Google Play.
Coinhako also has a referral program where users who refer others to the platform get 20% off the trading fee for every cryptocurrency trade made by the referred user.
Well-planned features and highly-interactive designs are what Coinhako has as the go-to platform for a wide variety of regional customers to fulfill their bitcoin and cryptocurrency trading needs. Bobby Ong, a co-founder of CoinGecko, believes that “Coinhako is the easiest way to buy and sell cryptocurrencies” and, as such, has been utilizing Coinhako’s services since its establishment.
How Coinhako protects your assets:
Coinhako has established its reputation as a highly trusted brand name over the years through constant updates of its security measures, and its commitment to employ industry best practices across its platform.
For one, the platform has employed mandatory two-factor authentication for all user accounts since as early as 2017, and stores at least 99% of its assets offline at any one point in time.
The company has continuously committed itself to also actively expanding its compliance and development teams to align its business practices with the latest requirements put forth by global and local financial regulators, which requires cryptocurrency businesses to meet a certain level of security standards to continue its provision of services.
Coinhako was also recognized and awarded a top spot at the inaugural Blockchain hackathon arranged by the DBS Bank in Singapore in 2015 and is backed by prominent investors such as Tim Draper and Josh Jones as well as established venture capital firms such as Boost VC.
What lies ahead for the business?
Yusho Liu, CEO, and co-founder of Coinhako believes that their extensive support of numerous cryptocurrencies and continual additions “puts us at the top for a variety of cryptocurrency and fiat trade pairings, and also showcases our leading infrastructure and the technical expertise of our team. We are absolutely sure that Coinhako will continue to play a crucial role in improving access into the blockchain ecosystems in the region.”
In 2020, the company introduced new tokens, US dollar trading on Coinhako, Automated Verification Processes, and timely updates to pander to the changing regulatory landscape for cryptocurrency businesses in Asia. Its founders are determined that the company will never be static, but rather continuously seek to meet the needs of its diverse clientele.
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