What is Coinroom?

Coinroom is a Poland-based centralized cryptocurrency exchange that lets users buy and sell digital assets like Bitcoin and Ethereum using euros and other fiat currencies. Unlike decentralized platforms where you hold your own keys, Coinroom acts as a middleman-you deposit money, they buy crypto for you, and store it in their wallets until you withdraw. It’s not as big as Binance or Coinbase, but it’s become a go-to option for people in Poland and parts of Europe who want a simple, no-nonsense way to get into crypto without getting lost in complex trading interfaces.

Why transparency matters in crypto exchanges

Most crypto exchanges hide fees in fine print. You think you’re buying $100 worth of Bitcoin, then realize you only got $94 because of hidden charges. Coinroom doesn’t do that. According to user reviews on Rotten Tomatoes from mid-2023, the platform stands out because it clearly explains fees, processes, and policies. There are no surprise charges when you withdraw or deposit. If you’re new to crypto, this alone makes it easier to trust the platform.

Transparency isn’t just nice-it’s rare. In an industry where exchanges have been fined for misleading users, Coinroom’s approach reduces anxiety. You know exactly what you’re paying. That’s why many Polish users stick with it, even when global platforms offer more coins.

How Coinroom works: Step by step

Getting started is straightforward:

1. Visit the Coinroom website or download the mobile app.
2. Create an account with your email and a strong password.
3. Complete KYC verification: Upload a photo ID and a selfie holding it. This takes 10-30 minutes.
4. Enable two-factor authentication (2FA) using an app like Google Authenticator.
5. Deposit euros via bank transfer or card (depending on your region).
6. Buy Bitcoin, Ethereum, or other supported coins with a few clicks.
7. Withdraw to your personal wallet or use the ATM option to get cash.

The interface is clean. No confusing charts or advanced trading tools. It’s built for buying and holding, not day trading. If you’re a beginner, this is a plus. If you’re looking to trade futures or use leverage, you’ll need another platform.

Supported cryptocurrencies and trading pairs

Coinroom doesn’t list hundreds of coins. It focuses on the big ones: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and a few others like USDT and XRP. You won’t find obscure altcoins like Shiba Inu or Dogecoin here.

This limited selection might seem like a downside, but it’s intentional. By keeping the number of coins small, Coinroom reduces technical risks and keeps fees low. You’re not paying for a marketplace full of risky tokens-you’re paying for reliability. If you want to buy Bitcoin and hold it, this is enough.

It’s also confirmed on Etherscan that Coinroom supports Ethereum-based tokens, meaning you can send and receive ERC-20 tokens directly from your Coinroom wallet.

Fees: What you actually pay

Coinroom’s fee structure is one of its strongest points. There are no hidden fees. Here’s what you’ll see:

• Deposit fees: Free for bank transfers. Card deposits may have a small processing fee (usually under 2%).
• Trading fees: Around 0.5%-1% per trade, depending on volume. This is lower than many European exchanges.
• Withdrawal fees: Fixed and clearly listed-for example, Bitcoin withdrawals cost about €1.50.
• ATM withdrawal: Coinroom partners with local ATMs in Poland. You can convert crypto to cash and get it instantly. The ATM fee is transparent and posted at the machine.

Compare that to Coinbase, which charges up to 4% for card purchases, or Binance, which hides fees behind tiered systems. Coinroom keeps it simple: you see the price before you click buy.

Security: Two-factor and KYC

Coinroom requires full KYC (Know Your Customer) verification. That means you must show your ID. This isn’t a flaw-it’s a requirement under EU law, specifically MiCA (Markets in Crypto-Assets), which came into effect in 2024. All regulated exchanges in Europe must do this.

On the security side, every account must have two-factor authentication (2FA) enabled. There’s no option to skip it. Your data is encrypted using standard TLS protocols, and user funds are stored in cold wallets (offline storage) as much as possible.

But here’s the trade-off: since Coinroom holds your keys, you’re trusting them with your assets. If their system gets hacked, you’re at risk. That’s the price of convenience. For most retail users, the security features are strong enough-but if you’re holding large amounts, consider moving crypto to a hardware wallet after purchase.

ATM withdrawals: A rare feature

Not many crypto exchanges let you turn digital money into cash with a swipe of a card. Coinroom does. Through partnerships with local Polish ATM networks, users can withdraw euros directly from their crypto balance.

This is huge for people who don’t have bank accounts, need quick cash, or just prefer physical money. You log in to the Coinroom app, select the amount, get a QR code, and scan it at a partnered ATM. The cash comes out in minutes.

It’s not available outside Poland, but for users there, it’s a game-changer. No waiting for bank transfers. No third-party services. Just crypto → cash, fast.

Who is Coinroom for?

Coinroom isn’t for everyone. Here’s who it works best for:

• Polish residents who want to buy crypto with euros and withdraw cash easily.
• Beginners who want a simple, transparent interface without trading jargon.
• People who hate hidden fees and want to know exactly what they’re paying.
• Those who don’t need 500 altcoins-just Bitcoin and Ethereum.

It’s not for:

• Advanced traders who need margin, stop-loss orders, or futures.
• Users outside Europe-Coinroom doesn’t support international accounts.
• People who want anonymity-KYC is mandatory.

How Coinroom compares to other exchanges

Here’s how Coinroom stacks up against two major competitors:

As you can see, Coinroom loses on coin variety and global reach. But it wins on simplicity and cash access. If you live in Poland and just want to buy Bitcoin without getting buried in options, Coinroom is a better fit than Binance or Coinbase.

Downsides and limitations

No exchange is perfect. Coinroom has a few clear drawbacks:

• No international access-if you’re outside Poland or the EU, you can’t sign up.
• Very limited advanced tools-no charting, no limit orders, no staking.
• Small user base-there aren’t many reviews on Trustpilot or Reddit, so it’s hard to gauge long-term reliability.
• Dependence on local ATMs-if the ATM network shuts down, you lose cash-out access.

These aren’t dealbreakers if you fit the profile. But if you’re looking for a global, feature-rich exchange, Coinroom isn’t it.

Final verdict: Should you use Coinroom?

If you’re in Poland and want to buy Bitcoin or Ethereum without worrying about hidden fees, Coinroom is one of the best options available. It’s simple, secure, and transparent-three things most crypto platforms aren’t.

The ATM feature alone makes it unique. Turning crypto into cash at a machine? That’s not something you get from Binance or Kraken. For everyday users who don’t trade daily but want to own crypto and access it as cash when needed, Coinroom delivers.

It’s not a platform for investors chasing the next moonshot coin. But if you want to buy, hold, and cash out with confidence, Coinroom does exactly what it says it will do-and it does it without the usual crypto chaos.

Frequently Asked Questions