CoinZoom - Quick overview
CoinZoom began operations in 2020, based in Salt Lake City and fully registered with FinCEN in the U.S. It claims presence in over 169 countries and offers a multi-utility ZOOM token. The platform includes services like wallet, card, and merchant tools.
Volume appears modest - CoinGecko shows daily trading around $200K, while CoinMarketCap lists similar low figures. That signals limited liquidity compared to major platforms.
What it offers
You can trade a limited set of coins via fiat pairs and a basic trading interface. It caters to everyday use with features like the ZoomMe money-transfer system and its crypto debit card. The native token offers staking perks and fee discounts for active users.
However, product depth is low. There are no margin or futures markets and advanced tools are missing. Coin selection is minimal, and professional traders may find the setup restrictive.
Security and regulation
CoinZoom is SOC 2 audited and regulated in all 50 U.S. states as a registered Money Services Business. It supports two-factor authentication and stores assets in cold wallets for added safety. Fiat balances may be FDIC insured up to legal limits.
That level of compliance gives it credibility - but trust metrics tell another story.
Fees and transactions
Maker and taker fees tend to start around 0.18-0.36 percent, depending on volume. Debit card deposits incur fees near 3 percent. Deposits via bank are free - withdrawals may involve wire fees. Token holders may reduce trading costs via discounts and rewards programs.
Inactive accounts may attract idle fees, and fee structure transparency has frustrated some users.
Trust score and user feedback
Trusted review platforms assign CoinZoom a trust index of around 2.4 out of 5. Trustpilot ratings average about 2 out of 5, with many complaints about frozen accounts and delayed withdrawals. Loyalty and positive sentiment scores are also weak - suggesting dissatisfaction among a sizable user segment.
Community commentary includes both praise for usability and criticism for poor support and fee opacity.
Current status and outlook
CoinZoom remains operational and compliant in regulated markets. Its domain stability score is high, reflecting continuity across years. User retention and online visibility, however, remain plateaus rather than growth trajectories.
Expansion plans include European regulatory licensing and broader merchant services. Yet execution quality - namely transparency and timely support - needs improvement.
Final thoughts
CoinZoom may suit casual users seeking simple fiat access, debit card spending, and global transfers. It's backed by regulation, with basic security in place and everyday tools available.
But beware: limited coin selection, mediocre volume, and problematic support may hamper serious trading. Test the platform with small amounts first, check withdrawals, and only scale if your experience holds up.