Coinfalcon

The exchange supports two ways of trading – Instant (the easy way to buy cryptocurrencies, as they describe it) and Advanced (a fully-functional trading platform). However, many users report that the Instant feature charges excessively high fees that are calculated as a multiple from the average price of the particular instrument on other exchanges. When it comes to identity verification, CoinFalcon’s users are required to verify themselves only in case they plan to make deposits and withdrawals in Euro. To do that, they should provide real names, address, email, and a selfie with a valid ID document – basically nothing different from other KYC-compliant exchanges.

The platform also offers a referral program. However, from the details on its website, it doesn’t sound as promising as those of other exchanges. According to the information in the FAQ article and the Referral Program section, once the referred user registers and spends 200€ within 180 days from the date of sign up, both he and the one who invited him get 10€. Yet, in the “Terms and Conditions” page, it is stated that both the referral and the referred user get 5€ each, which contradicts the information mentioned above. The referral program is available only for transactions involving cryptocurrency and Euro.

Users on forums like Reddit and Bitcointalk express a positive attitude towards the exchange’s UI/UX and overall system functionality. However, many of them report of missing funds, prolonged or impossible withdrawals, and inability to keep track of cryptocurrency transfers. In fact, at the time of this writing, CoinFalcon is one of the exchanges with the biggest number of user complaints about stolen funds. However, some clients state that they had managed to identify a part of the reason why they have lost their cryptocurrencies. CoinFalcon allows for a change of the associated email address without any confirmation. This means that users who take control of someone’s profile can easily steal it and make it their own. Despite having two-factor authentication enabled, at the time of this writing, many users complain about losing access to their accounts. When it comes to customer support, CoinFalcon falls short as well. The platform has various social media profiles and also supports a ticket system. However, numerous users claim that getting in touch with the exchange’s representatives often is very hard – there are several reported cases where the support team stops responding to their users or fail to solve their issues, especially in the case with missing funds.

At the time of this writing, CoinFalcon has no history of hacker attacks, security breaches, or governmental investigations.