CoinEx Review: A Trading Platform With Powerful Spot Trades

CoinEx was established in Hong Kong and has become one of the most recognized brands among cryptocurrency exchanges worldwide. CoinEx is both a cryptocurrency exchange and a product service provider that uses blockchain technology. It is a popular platform for trading coins and has many appealing features. It supports a variety of fiat currencies and cryptocurrencies, giving customers a wide selection of options. CoinEx has a user-friendly interface and offers many rewards to both new and experienced traders who trade high volumes of bitcoin. Its headquarters are located in New York. It is part of the ViaBTC Group. They claim to have over two million subscribers, spread across more than 100 countries and regions. The exchange supports 15 languages, including English, Japanese and Korean. Haipo Yang is the CEO and creator. In the past, he worked at Futu Securities as well as Tencent TEG/Weibo. He has a mathematics background and wrote all the code for ViaBTC’s mining pool in 2016. It was released two months later. The CoinEx exchange was then launched. According to the exchange’s website, the key members of its team include early adopters and experts in cryptocurrency with extensive expertise in international operations. CoinEx is one of the most popular exchanges for assets in Bitcoin cash (BCH) and offers reliable access to millions of users around the world. While China was their primary market at the time, CoinEx believes that China is now the majority of their client base. It also introduced a trade-driven mining program that quickly made it the largest global exchange by 24-hour trading volume. They currently hold the forty third position among the more than 500 cryptocurrency exchanges on CoinMarketCap. However, there is no information available about the exchange’s insured funds. However, the exchange’s insured money is not available to anyone except for those countries where trading cryptocurrencies is prohibited. Information about CoinExFounded: December 2017
Founders: Haipo Yang
Global Areas of Service
Key people: JHaipo Yang (CEO)
Products: Cryptocurrency exchange, digital assets
Revenue: $6.4 Million (2022).
This CoinEx review will cover the main aspects of the exchange. It will help you decide if it is right for you, or if you should look elsewhere. Here is a brief summary of the exchange’s advantages and disadvantages.Create CoinEx accountProsConsNever been hackedNo direct ways to do fiat deposits and withdrawalsLow and competitive feesOverwhelming verification processSecurity is on a high-levelNo staking featureAvailable almost globallyAdvanced trading features such as margin and future tradingAn enormous number of cryptocurrencies is supportedServices/Products Offered by CoinExUnlike to many exchanges, CoinEx principally offers five products and services to the market. These are: CoinEx Exchange
CoinEx Smart chain (a public ecosystem of chains)
OneSwap (a crypto asset swapping platform)
ViaBTC Pool (multicurrency).
ViaWallet (a digital currency)
These services have been carefully integrated into a seamless trading environment for all coins. The exchange can accept a wide variety of fiat currencies as well as digital assets to pay for these services and goods. Some of the services and goods are free, but each one costs the consumer separately. CoinEx should have more supported currencies. Our evaluation of the platform shows that it offers a wide range of exchange capabilities. CoinEx allows for fast and reliable transactions, unlike other industry exchanges that can take several days to complete.
The platform offers a seamless user interface that works with both mobile phones and computers.
The exchange also offers the best cryptocurrency wallet, which allows you to quickly transfer assets within the company’s digital ecosystem.
It also includes mining provisions. The mining events on the platform do not occur continuously and are only scheduled at intervals.
Spot trading is possible with CoinEx. CoinEx supports spot trading. It is not recommended for beginners. Only experienced traders should use it. Margin trading on CoinEx requires that you transfer money from your spot account to your margin trading accounts. This is because margin trading involves high risk and can result in significant losses. You can trade with a larger amount of money (loaned by a third party), but it does not allow you to make more than you would with your real budget. All exchanges have withdrawal fees that vary by coin. This is a common practice. They are, for instance, 0.0001 BTC per BTC withdrawal and 0.009 Ethereum per ETH withdrawal. For stablecoins (USDT or USDC), they can range between 0.01 and 80+ depending on which mainnet type you choose. These fees seem fair considering that they are lower than the market average. CoinEx charges a fee of $1 for depositing fiat through a third party provider. However, the relatively small fees CoinEx charges can be greatly reduced by using the CET token. The overall fee percentage will depend on how much CET you have (both in the exchange and in the wallet you may tie to it). The entire cost is displayed in the table below in the column labeled “Spot Fees with Deduction” if the two potential discounts are combined.The following chart displays the trading charge reductions based on CET holdings.VIP LevelCET HoldingSpot FeesSpot Fees with DeductionMargin Daily InterestPerpetual FeesVIP00 CET0.2%0.14%0.1%Maker 0.03% / Taker 0.05%VIP11,000 CET0.18%0.126%0.09%Maker 0.028% / Taker 0.048%VIP210,000 CET0.16%0.112%0.08%Maker 0.026% / Taker 0.046%VIP3100,000 CET0.14%0.098%0.07%Maker 0.024% / Taker 0.044%VIP4500,000 CET0.12%0.084%0.06%Maker 0.022% / Taker 0.042%VIP51,000,000 CET0.1%0.07%0.05%Maker 0.02% / Taker 0.04%It is always advisable to keep your money out of any exchange and in a private wallet if you have more CET than what is in your exchange wallet. Your CoinEx account can be linked with the address of a wallet. Your fund remains completely secure. The exchange can only see how many CET tokens your account holds. If your monthly trading volume exceeds $10 million, you may be eligible to receive additional discounts under the Spot Market-Making levels. Takers pay more for trading than makers. According to the exchange, they provide the “gasoline” needed for the market. Their funds supply liquidity to the exchange when they place an order and wait for all the conditions to be met before the order is executed. Takers, on the other hand, are those who fulfill orders that manufacturers have placed, which lowers market depth. CoinEx also offers liquidity providers with exclusive pricing through its automated market-making features. CET discounts and VIP rankings do not apply to these percentages. The AMM market has its own fees. Our CoinEx review revealed that the company offers 24/7 customer support via email and other online channels. The support team has not always been reliable due to clients having issues with trading services. An analysis of online exchange review data shows that market makers have had better interactions than CoinEx’s support team.CoinEx WalletViaWallet is one of the solutions offered at CoinEx. It has a built in system that can be used for all user needs. ViaWallet is a multi-currency digital wallet that was designed to mimic the CoinEx exchange’s user interface and adhere to the highest safety standards. The wallet also supports mobile device-specific apps (ex iPhone). ViaWallet supports more than 30 currencies and 1 million tokens based upon the ETH or BTC blockchains. ViaWallet supports the addition of any registered coins to the valet. ViaWallet can be notified using their contact page. Native tokenThe CET token or CoinEx token is built on Ethereum’s network, while CoinEx’s token uses the ERC-20 token standard. This token allows you to trade any coin on the platform. The holders of these tokens will determine the trading cost. The token can trade for $1 million to $1 million daily. This cryptocurrency is used to power platform gas. CoinEx is a reliable cryptocurrency exchange. CoinEx offers security and protection for your money, which is always a benefit. It is not clear how much of the money that is placed with CoinEx is kept offline. They do offer multi-sig cold storage. However, CoinEx does not disclose how much of the money they hold offline. They claim that they work with the best security team in the world, but they don’t specify who that security team is. The exchange has been in operation for four years and has never been hacked. CoinEx is licensed to deal digital assets in Estonia so all your money will be kept safe. Withdrawals are quick and easy and they will reimburse any money that was spent elsewhere. This means that they can’t be used for any other purpose. As the lowest payment is USDT 200, even the slightest exploitable bugs will be acknowledged and paid.LevelRewardLevel 1USDT 200 – 1,000Level 2USDT 1,500 – 4,000Level 3USDT 5,000 – 10,000Users can set up an API withdrawal whitelist on WEB and API separately as one of the security precautions that are suggested of them, in addition to creating a strong password and enabling two-factor authentication (either using Google Authenticator or SMS codes).If it wasn’t you logging into the exchange, you will be alerted right away by an SMS or email that includes your IP address, time, and location. Also, all deposits and withdrawals are communicated to your email address or through SMS, and if your IP address changes regularly (for instance, if you use many devices or travel frequently), you will be alerted.CompetitorsCurrently, CoinEx’s daily trading volume is only ranked 55th according to CoinMarketCap, so the exchange is still only at a stable level but cannot compete with today’s leading platforms.ConclusionFor those seeking a robust spot trading market with the option of perpetual futures and margin trading for more seasoned investors, CoinEx is a great cryptocurrency exchange. Because of the large and growing number of supported tokens, you will find a wide range of low-cap altcoins. The exchange is suitable for those who respect their privacy. It can be accessed from most areas and provides a smooth and easy way to exchange assets. CoinEx is a leader in bitcoin exchanges due to its extensive network of online platforms. We encourage you to do your own research before investing.Join us to keep track of news: NewsTags: #BitcoinCETCoinExcryptoexchange reviewReviewViaBTC