Description
UpdateCoinMKT is a US-based currency exchange which supports USD for trading between Bitcoins and other crypto currencies including Litecoin, Peercoin, Namecoin, Feathercoin, Primecoin, Worldcoin, Megacoin, and Quarkcoin.
Reviews
Write a reviewbusted - January 17, 2014
The guy who runs this site has been posting the positive reviews here. CoinMKT is not an honest operation. Beware. You will lose your coins and/or money with them.
Iluvbtc - January 14, 2014
I recently purchased a couple litecoins and a few other coins and they wont let me withdraw my coins to trade or put them in my wallets.. can anyone help me with this problem
Mike Mayor - January 12, 2014
This is really one of the only site where i feel my coins and everything is secured. and i was able to trade and get the money back. I traded on Coins-e (they are literally hackers my 3000 $ worth bitcoin is gone 8.5 million Dogecoin gone hacked no response). BTC-E one of the website which is popular i can never get payments out of it ever. Cryptsy.com Still its better but very slow due to its huge amount of transaction
Max - January 5, 2014
I can't withdraw my BTC, LTC, it is written all the the time "You cannot perform this withdrawal for security reasons, please contact support for assistance."my account is level 2, I wrote about it so many times and no any anwser from support.
how I can trade if it is not possible to withdraw??? Please keep away from site, you loose money and time.
Martin - December 20, 2013
Beware. Not a professionally run operation.
Rajeev Singla - December 19, 2013
This is one of the website that gave me easy opportunity to get into Crypto Currency. Easy to send payment methods without even charging a single $. (Super impressed). Then I did trade even though the volume of coins were very less initially but it has grown huge from mid November to Mid December. There are quite a few strong people in the exchange. I did had several issues with them, once the website was literally down for more than 10 hours. Then i was not able to withdraw money for literally 10 days and i tried after 10 days i was able to put my request at-least. Now i am waiting for the check to be received. If it comes i will continue trading on this website.
Kurt - December 17, 2013
Tried a few trades on this site, not terribly impressed with the execution of orders, they tend to lag or not fill at all.
Ryan - December 16, 2013
Great site. Good and improving technology. There is still work to be done, but if you pay attention, you can see the almost daily improvements in the site. Money Orders are currently processed manually and do take a bit of time. I received my first of three about 1 week after the withdraw transaction. To make it 5 stars, I would like to see a status page of outstanding transactions. For instance, if you withdraw USD, I would like to see that it is in a queue to be processed, when it was processed, when it was shipped and a tracking number. At this time, I will continue to use CoinMKT as my primary exchange.
Jason DaRosa - December 16, 2013
I've been trading bitcoin on other platforms. These guys might be lagging behind in terms of speed, but when it comes to security, I feel secure and know they have systems in place. Cameron - December 14, 2013
Trading is spotty, most trades do not execute. Price listings are buggy and often list the price for the wrong coin. Support is arrogant and dismissive. Lots of better trading sites out there.
Satan - December 13, 2013
Scam site. Stay away!
Will - December 12, 2013
I got my money orders today, though they were delayed, and got a personal apology from the CEO.I challenge every whiner on this thread to build a Bitcoin exchange and scale it to 100,000 users if they're not happy with the service.
Ken F - December 12, 2013
I signed up with CoinMKT several weeks ago. I took a cautious approach by depositing small batches of coin. I had problems with coin withdraws nor did I get any restrictions as some here have stated. Most coin deposits showed up in the account in less then 20 minutes. I did have a problem with canceling a trade and it took several hours for funds to be returned. I sent an email about the issue and Travis looked into it and problem was resolved. I requested a cash withdraw via a direct deposit but the funds failed to show up after several days. I contacted support and again, Travis informed me that Wire Transfers were not available at the time but I would be sent money orders instead. While it took some time, the money orders did arrive as stated. I would like to see the Wire Transfer for USD withdraws operational. Well done CoinMKT!
Bert - December 12, 2013
These guys seem to be in way over their heads. It was a functioning site for a while, but every time they have a problem with their systems they shut down all withdrawal activity and hold your money and coins for days on end with no explanation. They do answer support emails now and then, but their answers are vague and do not result in appropriate action.My biggest issue with CoinMKT is this: I had been transferring coins in and out, mostly altcoin, over several weeks, all was well, then they informed me that they had accidentally double credited me 100 LTC at an earlier date, whch did not notice in all the furry of activity (I might have thought I made a really good trade one day). By the time they informed me of this, it has been at least 10 days later, and I had already sold all the LTC I had at $10 (I had bought much of it at $2 or less) and wanted to cash out but they froze my cash balance and then removed the equivalent of 100 LTC at $27 (the value on the date of the removal), rather than admitting their mistake and deducting 100 LTC at the price I sold it for, effectively ripping me off for about $1600.
I have had an initial conversation with support about this before they made the deduction, but then they went ahead and took the funds and have not acknowledged me since and I have received no communication for almost 5 days now.
I was also unable to withdraw any remaining funds or coins but kept trying and finally got all my coins out to cut my losses. If they correct their error and credit me back the money they took I might be satisfied, but I am unlikely to ever use this service again when there are other sites out there for coin trading and cashing out that actually work and lack this type of drama.
What a sham - December 11, 2013
My account is frozen - the support is slow - I am unable to withdraw any money - their site is lagging: All together a painful and a costly affair :-(
blownute-454 - December 10, 2013
COMPLAINT - cannot withdraw funds not available? I hope this passes - does anyone have any decent support contact line? web and forums turning up nil.
Pete H - December 10, 2013
I used this site a number of times over the past 5 weeks with no problems, always able to send and receive coins, make trades, and withdraw coins. Then, at one point, I attempted to withdraw funds in USD, which seemed to go through. Then suddenly my account was frozen, the money is not showing up anymore, and support first said they mailed a money order (which never arrived) and then they later said they found an accounting error, and the check did not go out, and were working on fixing it. Then, nothing. It's been 48 hours since they promised to fix it and they do not reply to my emails any more.I am going to give them the benefit of the doubt for another day, if this is a glitch or a programming issue I am happy to work with them but communication is the key.
If I do not get a response after 72 hours have passed I will be filing a formal complaint with the State of California and the US FinCen.
MRZA - December 8, 2013
Been trying to withdraw my bitcoins for the last few days with no luck. Just continuously have a message stating that transaction could not be processed due to security reasons please email support. 48 Hours later still waiting for reply from support.Also tried withdrawing funds to OKPay no luck just times out.
Sad really as the site seems nice and the interface fluid. The withdrawal issue is a big one though so if your don't mind depositing your data indefinitely it seems then go ahead.
Jason - December 7, 2013
I've tried a number of other exchanges. The US legal system is tough. I've had my lawyer look over things. Coinmkt.com has the most current optimal legal configuration in the USA especially given its size and scale. If I had the cash, I'd back these guys/girls or whatever the team consists of in a heartbeat.
John - December 7, 2013
CoinMkt recently went through a period of 1.5 weeks or so where withdrawing anything was near-impossible (you kept getting an error for any coin or USD)... an exchange that only works in one direction obviously isn't worth investing in, however, it looks like they got it all resolved now. I like the UI and I'm willing to give them another chance (as they didn't really lose any of my coins... I just couldn't move them around a week) however, the "Beta" tag on there site is definitely there for a reason. Like any exchange, don't put more in than your willing to potentially lose
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