Coinhub is a cryptocurrency exchange that launched in July 2021, primarily serving users in Asia, with a strong focus on Mongolia. The platform has established a significant presence in its target region, facilitating access to digital asset trading for a growing user base.
All users are required to complete identity verification using government-issued identification documents. This process aligns with global Know Your Customer (KYC) standards, enhancing service accessibility and helping prevent financial malpractices.
Supported Markets and Trading Pairs
The exchange primarily operates using the Mongolian Tugrik (MNT) as its base currency. The MNT market is currently the sole trading market available on the platform. Coinhub focuses exclusively on spot trading and does not support margin or leverage trading.
Users can choose from over 29 trading pairs. Major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Ripple (XRP) are all supported for trading against MNT.
Fee Structure and Transaction Limits
Coinhub implements a straightforward fee schedule:
- Trading Fees: 0.25% for takers and 0.20% for makers.
Deposit Fees: The platform charges no fees for deposits. However, minimum deposit amounts are enforced:
- Bitcoin (BTC): 0.0002 BTC
- Ethereum (ETH): 0.005 ETH
- There is no maximum deposit limit.
Withdrawal Fees:
- Bitcoin (BTC): 0.0008 BTC
- Mongolian Tugrik (MNT): 1% fee on all withdrawals
The exchange accepts both fiat currency and cryptocurrency deposits, simplifying the onboarding process for new users. 👉 Explore more strategies for efficient trading
Native Token (CHB) and Staking Rewards
Coinhub's native utility token is CHB. Holding CHB provides users with benefits such as trading discounts and rebates.
The platform offers staking opportunities:
- CHB Staking: Users can stake CHB tokens to earn rewards of up to 12% APY.
- USDT Staking: Staking Tether (USDT) can yield annual profits of up to 10%.
Additionally, CHB holders receive weekly rewards, regardless of whether their tokens are staked, providing an extra incentive for community participation.
Leadership and Company Background
The exchange was founded by Battulga Otgonbaatar, a decentralized finance enthusiast focused on building DeFi economies and increasing their adoption across Asia. Prior to launching Coinhub, he served as the Business Transformation Lead at one of Mongolia's most prominent banks, Khan Bank. His work has been recognized on the Forbes 30 Under 30 list.
The management team comprises young professionals with diverse expertise in banking, finance, IT, marketing, and business. They are supported by experienced advisors from Japan, the United States, and Mongolia, who provide guidance on token offerings, global expansion, compliance, and corporate governance.
Security Measures and Insurance
Security is a priority for the exchange. The platform is protected by a loss insurance fund that covers up to $30 million. This substantial coverage provides a strong safety net against potential system vulnerabilities, offering users peace of mind regarding the safety of their assets.
Corporate Social Responsibility
Beyond its core services, Coinhub is engaged in initiatives aimed at supporting education. One notable project is a partnership with an ed-tech startup to teach financial literacy to young children, demonstrating a commitment to social impact.
Frequently Asked Questions
What is Coinhub?
Coinhub is a cryptocurrency exchange that provides spot trading services for a variety of digital assets, with a focus on the Mongolian market. It supports trading pairs primarily against the Mongolian Tugrik (MNT).
What are the trading fees on Coinhub?
The platform charges a 0.25% fee for taker orders and a 0.20% fee for maker orders. Depositing funds is free, but withdrawals incur fees, such as a 0.0008 BTC fee for Bitcoin.
Does Coinhub have a native token?
Yes, the native utility token is called CHB. Holding it provides benefits like staking rewards, trading discounts, and weekly airdropped rewards, enhancing the overall user experience on the platform.