Cobo review 2023
Investing options: 3.1
Platforms & usability: 3.2
Products, markets, & assets: 2.5
Safety & reliability: 3.7
Deposits & withdrawals: 3.1
Research & analysis tools: 2.5
Fees & costs: 3.6
Education & learning resources: 2.9
Cobo review Summary
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Cobo.com is a crypto storage and staking platform that allows investors to store and earn interest on their cryptocurrency. The platform is designed for large investors and institutions, and has more than $1.5 billion of assets under management. It offers crypto custodian services with military grade security features, along with decentralised financial services and tools to help institutions build their own DeFi services.
What is Cobo.com?
Cobo is an asset management company that focuses on cryptocurrency. It’s designed for large institutions and helps them to buy and sell large amounts of crypto. In addition, it provides crypto wallet services to store coins and a staking platform so those coins can earn interest.
Cobo.com was founded in 2017 in Beijing by two Chinese cryptocurrency enthusiasts, Discus Fish and Dr. Changhao Jiang.
How does Cobo.com work?
Cobo works much like any asset management company in the financial world. It offers some managed investment opportunities and pays an attractive rate of interest on crypto stored on the platform to encourage people to deposit money into Cobo.
In addition, it sells software-as-a-service (SaaS) to businesses for a fee. So any company can set up its own wallet or DeFi platform using Cobo’s technology. The money Cobo earns from this goes towards investing in exciting projects within the Web3 or blockchain space.
Cobo.com cryptocurrencies and trading options
What cryptocurrencies can you trade on Cobo.com?
Cobo.com is a few different things in one centralised location.
From military grade crypto custodianship to asset management company and much more. The platform supports 60 chains and 1,600+ cryptocurrencies across 11 exchanges, some of which are as follows:
All Cobo.com trading options
Cobo.com is not a crypto exchange, but rather a crypto custodian offering wallet and DeFi services. It does not offer any derivative trading services at this time, but it does offer crypto staking across 3 cryptocurrencies: Bitcoin, Ethereum, and Tether.
What cryptocurrencies pay interest on Cobo.com
Crypto interest accounts allow users to stake their cryptocurrencies in order to earn interest. It is similar to lending shares for short selling. You can lend your cryptocurrency to someone who wishes to take a short trade on it.
In return, the borrower will pay interest on the borrowed amount which ranges from 5%-8% depending on the markets. Cobo offers crypto interest across 3 cryptocurrencies:
Can I trade with leverage on Cobo.com?
No, Cobo.com is a crypto custodian offering wallet, NFT and DeFi services. It is not an exchange and leverage is solely dependent on the exchanges where trade is taking place and the account type one has opened with a particular exchange.
Note that leveraged trading carries extra risk and should be treated with caution by beginners.
What are the spreads?
Spreads depend on the exchange where trading takes place. Cobo is a crypto custodian and asset management company and does not determine spread.
Cobo does not charge any commission or make any commission on spreads.
Fees, limits, and payment options on Cobo.com
What are the deposit and withdrawal fees, limits, and speeds?
To access most of Cobo’s services you need to contact the company and speak to a representative first. This is because Cobo is aimed at business customers, rather than individuals.
That means details about fees, commissions, and trade sizes are all rather opaque and you can only find out the information by contacting the platform directly.
What are Cobo.com account types and commissions for each?
Cobo.com is not an exchange, but rather a crypto custodian and asset management company with a sole focus on institutional clients.
As a non-retail platform, pricing and terms are highly subjective and variable on a case by case basis which can be determined by contacting the company directly.
Cobo.com trade sizes and limits
Cobo.com does not impose any restriction on trade sizes or limits. Trade sizes and limits are factors of the exchange where trades are executed.
Cobo.com trading platform
What devices can I use Cobo.com on?
Cobo.com offers wallet and DeFi services along with NFT minting and storage. All of the above can be accessed via a web browser on your desktop, laptop as well as mobile devices.
Additionally, Cobo also offers a mobile app for its wallet through which cryptocurrency transactions can be made.
- Android/iOS only for wallet
Can I use Cobo.com in my country?
Cobo.com is a company that targets the Asia-Pacific region but its services are widely available across the world. Some of its supported countries are as follows:
- Hong Kong
- United States of America
- United Arab Emirates
Is Cobo.com available in my language?
Cobo.com is currently only available in English and Mandarin.
How easy is it to use Cobo.com?
Using Cobo requires at least some basic knowledge on relatively new blockchain features, such as decentralised finance, non-fungible tokens, and how crypto transactions take place. It is easily accessible via web browser and its wallet is also available on both Android and iOS devices.
It isn’t designed for the average retail trader, rather it is meant to be for serious cryptocurrency investors. Security and institutional adoption are two of its core tenets, which means it has prioritised those areas above usability and intuitiveness.
Geared primarily towards institutions, Cobo offers the tools and features organisations need to build their own products on the blockchain. Here are a few of Cobo’s key features:
Military grade security
Cobo offers a virtually unbreakable wallet with self-destruct features. Some of its security features include 3-tier key storage architecture, HSM (Hardware Security Modules) signing, multi-signature access, Key Sharding, and Global Key Distribution.
Crypto interest accounts allow for traders and investors to earn interest on their acquired cryptocurrencies by lending them out to third-parties.
Cobo offers this feature known as crypto staking on Bitcoin, Ethereum, and Tether, with 5% to 8% yields on average.
Bulk mint NFTs
Cobo offers a minting-as-a-service feature to institutions, allowing for minting of NFTs at scale. The newly minted NFTs can then immediately be connected to the marketplace for trading.
Security and regulation
Is Cobo.com safe?
Yes, Cobo is a safe and secure platform. Some of its security features include 3-tier key storage architecture, HSM (Hardware Security Modules) signing, and more. Its services are geared towards institutions and hence designed to be highly secure.
Am I and my cryptocurrency protected?
Yes, crypto stored in a Cobo wallet is protected by military grade security measures.
Is Cobo.com regulated?
No, Cobo is not a crypto exchange and hence is not regulated.
Do I have to verify my account with Cobo.com ?
Cobo does not require any account verification to use its wallet. You may need to provide more ID or proof of identity in order to use its investment services.
Cobo has precious little to offer in terms of educational resources. They have a help center with basic information on how to get started, but nothing in depth as compared to some of the other more retail oriented services out there.
Tools and charting
Seeing as how Cobo is not an exchange, it does not offer any trading tools or charting features.
Cobo has a contact us option on its website which allows one to fill in an information request form and submit it to the company.
You can also submit a request via the help center. User reviews for customer support on Trustpilot have been unfavorable for Cobo.
Cobo is a relatively new entrant in the world of cryptocurrency asset management. Founded in China, it has since grown to build a name for itself in terms of security and managing crypto investments at scale.
Geared towards institutions and businesses, it offers features like a military grade wallet & wallet-as-a-service. With DeFi tools, NFT minting and storage facilities, and crypto staking rounding out its services, Cobo is designed to be a captive platform, serving all your needs in one place.
With the exception of its crypto wallet, retail customers do not have access to Cobo services. A lack of educational resources, limited language options, and purportedly slow customer support pose other problems.
The biggest hurdle for Cobo and its customers however is its base in China. With China coming down heavily on cryptocurrencies, the future of the company might be in jeopardy should the Chinese government decide to target it. Barring these concerns, Cobo is a robust institutional service.
Cobo.com was founded in 2017 in Beijing by Discus Fish and Dr. Changhao Jing who are both crypto experts and enthusiasts with a wide range of experience.
Cobo offers its wallet, DeFi, NFT and other crypto related services for a fee. The fee is subjective and varies client to client.
Taxation depends on your country of residence. Kindly check with local authorities on the taxation laws that may apply to you.
Yes, Cobo’s crypto wallet is anonymous.
Yes, Cobo offers individual wallet services and a wallet-as-a-service to institutions.
Cobo offers wallet services. One can withdraw from the wallet at any exchange supported by the wallet.
No, to date Cobo has not been hacked.
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