CoinEx exchange was founded in 2018 by a team of entrepreneurs and engineers with extensive experience in the blockchain industry.
The company is known for providing users with a secure trading platform that is also easy to use, as well as for having comprehensive customer service offerings.
In this post, we will explore some of their features and benefits so you can decide whether or not they are right for you.
What is CoinEx?
CoinEx is a global digital currency exchange service provider which can process up to 10,000 transactions per second using its high-speed matching engine. Hence, it can quickly process cryptocurrency transactions so that users can deposit/withdraw funds within a few minutes. Unfortunately, it is not possible to purchase crypto with fiat with CoinEx.
Source: Cryptimi
CoinEx is one of the leading cryptocurrency exchanges and also a blockchains-based service provider. CoinEx offers a variety of products for individuals who are either investors or are beginning to trade.
The platform supports an imposing and diverse range of crypto coins, tokens, or other assets. The users can buy/sell or trade cryptocurrencies through a user-friendly interface available for both desktops and mobile devices (iOS & Android).
Signing up on the platform is a simple process, and users can start using the trading platform right away from their account with CoinEx. Each token available on the platform has several trading pairs and constantly changing pools.
How Does CoinEx Work?
CoinEx, as an exchange, acts as a platform that has support for various assets and cryptocurrency transactions. These transactions come with an associated fee.
As a service provider, the services offered by the company have respective prices for them that become the company’s revenue. Through the deposit methods, the platform does have a minimum limit for the number of crypto-assets.
The transactions can use two 2FA ways, which can be either through email or SMS. The platform claims to complete the delivery within 15 to 30 minutes for withdrawals (5 to 15 minutes for relatively smaller amounts).
Features of CoinEx
- CoinEx shows quick and reliable transactions that usually take place within a few minutes, instead of some other industry exchange that might even take days for the transfer.
- CoinEx has a seamless user interface for both computers and mobile phones.
- CoinEx also has a cryptocurrency wallet that can quickly transfer assets traded at the exchange within the company’s digital ecosystem.
- CoinEx also includes mining provisions. However, the mining events on the platform are not ongoing and happen after intervals.
Services/Products Offered by CoinEx
Unlike many exchanges, CoinEx primarily has five products and services that they bring to the marketplace. These are:-
- CoinEx Exchange.
- CoinEx Smart chain (a public chain ecosystem)
- OneSwap (a crypto asset swapping platform)
- ViaBTC Pool (multicurrency)
- ViaWallet (a digital wallet)
These services have been architectured well into a hassle-free ecosystem for trading any coin. These services and products can be paid for by either digital assets or dozens of fiat currencies that the exchange supports. Each of these products charges corresponding fees from the users, although some of the processes are free of charge on the platform.
CoinEx Account Sign Up Process
The individuals who wish to start trading with the platform can sign up through the website or the mobile application. Primarily, the basic credentials required are email, name, and phone number. The platform does have a KYC option, but it is not an absolute necessity for starting small trades to get familiar with the trading system of CoinEx.
The verification is a way for the users to withdraw large amounts while the pre-verification limit is substantially lower. Spot and market trading can be used through an unverified account across most nations, including the United Kingdom.
As previously mentioned, the signup process is simple and logically laid out. Individuals can create an account by entering their email ID and a password. Mobile phones can also be connected to the account, which enhances the overall security.
Since the company has incentives for referrals, new users can also enter a referral code (if they have one) while signing up. After entering the verification code through email, the primary trading account is ready to go. The resetting of the account is also simple, which has a robust 2FA mechanism as well.
CoinEx Fees
The fees charged by the platform for various transactions can be considered less than the industry average. The large volume of daily trades enables the company to stay competitive at low rates. The fees do vary depending on whether the user adds to the liquidity or takes away from it.
While making this CoinEx review, we notice that it provides discounts on the trading fees after certain tiers of membership based on the user’s total trade volume (and the discounts also depend on CET holdings).
The withdrawal fee is different for each pair and can be referred from the company website. On the other hand, deposit fees are all free from any charges. Get to know more about its fee standard by visiting its official site.
CoinEx Wallet
ViaWallet is one of the products released by CoinEx to offer a built-in system for all user requirements.
ViaWallet is a multi-currency digital wallet that has been built with a similar interface as the CoinEx exchange and engineered to some of the highest safety standards.
The wallet also has dedicated applications for mobile devices (ex iPhone). ViaWallet supports more than 30 coins and over a million tokens based on BTC and ETH blockchains.
ViaWallet can be contacted if any registered coins are added to the valet through their contact form.
CoinEx Deposit and Withdrawal Method
Based on many online reviews and our research, the deposit and withdrawal methods only support cryptocurrencies. Deposits are alleged to be instant, while the withdrawal takes place through a few methods. The deposits can be made through various currencies that include USD, GBP, INR, etc.
However, these deposits don’t always support credit cards, in which case the users would have to buy other digital assets using fiat assets and then exchange them for crypto.
If the minimum value for deposit/withdrawal is not met and the money is sent, the users would have to bear losses since funds are not refundable and do not have any potential for retrieving.
CoinEx Accepted Payment Method
The payment method for most of the regions and trading pairs is solely cryptocurrency. However, some of the purchases in a few select regions can be made through VISA and MASTERCARD.
CoinEx Supported Currencies & Countries
The direct usage of fiat currencies is not supported on the exchange. Users would need to either win crypto or use the platform to buy crypto through digital funds, implying an extra step.
However, the list includes numerous currencies such as INR, USD, EUR, GBP, etc.
CoinEx supports almost all countries across the world as the users are free to trade from most regions. This broad support over continents is also the reason behind a large user base in this competitive industry.
CoinEx is awesome exchange. Everything is good, fast and secure while the team is supportive. I can say it is even better than Binance. CoinEx offer services to all countries without any prejudice and racist view which may make many oppose it. I don’t know why people from some countries should be restricted to use exchange market when it is famed for its independence and Unprejudiced features. This is why CoinEx is really a crypto exchange following the rules of crypto world and has a bright future. However it stores its customers identification data for any possible fraud which makes it more secure and trustworthy as well.
Source: Trustpilot
What Is a CoinEx Exchange Token (CET)?
CoinEx has its token based on the Ethereum blockchain, and CET or CoinEx token is based on the ERC-20 token protocol. Trading any coin through this token on the platform brings in concessions and other benefits.
The holding of these tokens is what determines the trading fee that will be charged from the users. The daily trading value of the token is usually within the range of $1 Million. This token serves as gas on the platform.
CoinEx Security & Privacy
CoinEx is known to have an impeccable security infrastructure that includes the popular two-factor authentication (2FA). Furthermore, for security reasons like many exchanges, CoinEx has also adopted HTTPS protocol as well as cold wallet storage.
All of these are some of the latest safety measures for crypto platforms. A high-speed matching engine, fast deposit and withdrawal transactions, and 100% reserves also fortify the digital coin exchange from various dimensions.
In terms of privacy, the company states that some of the users’ personal information will be shared outside the platform to share, advertise, or recommend products from CoinEx and third parties.
The bottom line
It’s not too late to sign up for a free account and start trading today.
Coinex Exchange is one of the most promising cryptocurrency platforms in the world. They offer all major cryptocurrencies as well as fiat-to-crypto transactions that are processed quickly and securely by experts who have years of experience working in this industry.
There has never been a better time to join us than now – so head over to CoinEx.com right away!