Coinhako Reviews 106

Will never stop spamming you. Ever.

Very, very horrible.

Back then, when I tried to open their account they took their own sweet time to activate my account. I remember it took like 6 months (which by then I totally forgot about them and used other exchanges).

The other worse part is they WILL spam you to death. They kept emailing you about their 'promos' and nonsensical spams. Despite vividly UNSUBSCRIBING from their list, they CONTINUE SPAMMING ME. I UNSUBSCRIBED again and they SPAMMED ME again later.

This IS illegal.

God knows what will they do with your identification papers which they will force you to submit when registering with them.

Slow, email spams, and horrible rates.

Don't even think about registering with them, you will regret it. They don't seem to even know how to operate a proper business... look at all the bad reviews that's flooded online and they don't even have a PR manager to salvage their reputation. This shows they only care about your money and will take their own sweet time.

Very low earn interest rates, and they keep changing whenever they wish! Coins in earn always get oversubscribed, don't know if it is genuine or fabricated. And very terrible, high platform fees at 1% on every transaction you make. Not suitable for crypto investing. Stay away from coinhako.

Evaluated this platform for 2 weeks. Heres my feedback based on various transactions.
1. Fiat Deposit is straight forward
2 Crypto Deposit is straight forward
3. Crypto Withdrawal is nightmare. Executed 2 transactions and none went through. Contacted CS and was asked to do ridiculous document verification. such as take selfie and writing down first 7 character of receiving address?!
4. Fiat withdrawal is not instantaneous. Took a few days and it was only after contacting CS.
5. Rates are not competitive at all. It wont take long for users to know the differences in rates among other exchanges.

The platform has a beginner friendly interface but does not offer more advance trading tools. Probably due to the fact it is a brokerage and not a real exchange. Management ought to know purpose of crypto transactions need to be fast and secure and not creating more obstacles for users. You will lose customers once they get to trade on other better platforms.

Giving a 3 stars (my personal evaluation should be 2 to 2.5 stars) but hope the company can improve on the weakness as mentioned by other reviewers. Also will be good idea to respond to the reviews, especially the negative ones. This is how you rebuild credibility,

Avoid at all costs. This company is out to retain your money and assets by making it very very difficult to withdraw your fiat money and crypto assets. No problem in depositing but BIG PROBLEM in withdrawal. Be prepared to have all your money EATEN by this crook company. When withdrawing, this notorious customer service "MARIE" will contact you and ask for all sort of nonsense documents. so that your money will be held by these crooks.

I will be lodging an official complaint with MAS.

AVOID AVOID AVOID!

Coinhako has decent fee rates, but I still wouldn't use them because of their horrible customer service and processing. It takes HOURS to withdraw a transaction because they need to manually "verify" it. They normally do this by sending you an email asking for details and a picture of your ID every time.

They are extremely slow. Rather use services like crypto.com and coinbase.

Coinhako has ridiculous transaction fees and a very limited selection of coins which you can deposit or withdraw to and from wallet address. While there are many reasons why a website might charge high transaction fees, the problem with these sites is that they deprive users of their hard-earned money without giving them any tangible value in return. In fact, Coinhako is not a genuine exchange, it is a middleman.

I also had a horrible experience with Coinhako team. My withdrawal of BTC of value <60 USD has been pending for over twelve hours. After raising many support tickets, I was contacted over mail by one Marie and after providing all the identity verification docs, selfie with ID etc., the problem was not resolved. I even got a police investigating officer contact me. After giving them a satisfactory response that I am withdrawing the BTC from my wallet into another of my own wallet in another exchange, I was hoping the issue will be resolved and my withdrawal will happen. But alas! even after almost two hours after my talk with the Investigating officer, the status remains "Pending".

high charges and crashes during times when trading volume increases...wont recommend

Had the most terrible experience with Coinhako and their customer service, was trying to perform a withdrawal of crypto (only 70$ SGD) to make an online purchase i was contacted by customer support staff named "Marie" and she asked for more details about the transaction(which was fair)and part of KYC and i responded promptly, she probably responded only after 7hours or more and warned me about "fraud" and i had to acknowledge that i was ok to proceed with the transaction. However it has been a grueling <24hours and my crypto transaction has not gone through and i have not receive any response despite the countless emails that i have sent. It is a horrible experience and this isnt the first time i encounter withdrawal problems when doing business with Coinhako. Crypto transactions suppose to be fast and secure but it doesnt seem anything like that. Would highly suggest all Singapore Users to consider other platforms, where withdrawal of fiat (SGD) and crypto currencies to other wallets are faster. They obviously do not understand that crypto is volatile and any delays(i.e. Coinhako holds the transaction) can cause potential financial losses.

Super Horrible Company. Settle the issue Now. Reference number 243295.
I want to withdraw every token out as fast as possible.

You horrible Site. Don't say got office in Singapore lah. No face... close down better.

Coinhako - I thought would trust them. My first withdrawal came in 3 days including weekends. Second withdrawal below 1000 never happened. I withdrew on 19 Sept and today is 11 Oct. The funds never came. The app says ‘withdrawal completed’ - but am still waiting to get deposited in my DBS account. Delay tactic - they were buying time asking for my bank statement. It was Sent last week. Very sad service. I am looking at closing the account now and shift to a more reliable platform.

Do not engage in their service. Poor service quality. I will not hesitate to write to MAS to have them review the sop of this company for providing financial services.

This is a poor and irresponsible company. I wired money into their associated bank so as to fund my account. Only after the wire transfer was processed was I informed that they had switched their bank. Apparently the money I wired in has now disappeared into the nether realm, and Coinhako--to this day--refuses they either take responsibility or refund me my wire transfer. In fact, they took 17 days just to reply to my email on this problem, and they do not even provide a phone number or a physical address for customer service. That alone tells you the kind of company they are and the service they provide.

Stay away unless you want your money bilked.

Worst customer service you will ever experience. Does not respond in more than a week, and when they do, they do not address your query and use a standard response. Non-existent. Beware if you want to use it.

Such a stressful experience with the latest Fiat deposit via matchmove pay. Initiated a $10 transfer to see if it works. It was credited. Then, transferred a higher amount last Thursday 9/sep 21. Payee details ditto as the first transfer. Today is 15/sep 21 and the deposit is still not credited. Confirmed with my bank that there was no reversal on the transaction. No response from coinhako support in spite of raising support ticket and repeated mails following up on the same ticket. Anyone else faced similar issue? Any other way to reach support except the support via app and their page. Very unprofessional way to handle things.

hi everyone , I have just requested for a withdrawal of 5 figure sums and I had my fund in 3-4 working days. So I am happy with Hako. I must also mentioned that through out their support and reply by email is very fast and prompt. Their crypto list is a bit limited but holds many important ones like SOL , which some other exchanges do not have, to their credit. According to Hako's email update , some clients experienced delay due to the fact they were changing their bank that process payments and end up with processing issues .

I don't know how a tech company can be so slow, ineffective and inefficient with the basics of deposits. They keep changing bank deposit details which is very suspicious and annoying. There are better alternatives, use those

I submitted a fiat withdrawal 1 month ago.
Funds Not received, almost a month now.
The customer service does not reply....

Not to sure what to do next. I probably need to raise a complaint with MAS.

Worst platform to put finds in.