CoinEx Review Is CoinEx Scam or Legit?
CoinEx does have some guides and videos to show people how to use its site. However, there’s no easy convert function for new investors to trade crypto without using the main trading page. Moreover, because there are so many trading tools — including some that are only suited to advanced traders — the site can be intimidating if you’re new to crypto. It doesn’t help that the English on the site hasn’t been checked by a native speaker and is at points confusing.
There are always upgradeable protection measures that you can enhance the security of your account. If you default on the loan, payments will be deducted automatically from your account. Also, 30% of the daily interest paid goes to an insurance pool to cover bankrupt positions. CoinEx places no geographical restriction on any region or country. Therefore, the company accepts customers from all over the world and offers multilingual support as well.
Even though it has not yet set any limits for deposits, the withdrawal limits vary based on the level of verification . The documents required for the advanced account verification can be found on the account page itself. CoinEx doesn’t have a full-fledged wallet like the Coinbase exchange with its custom crypto wallet.
Is CoinEx Exchange Safe?
A high-speed matching engine, fast deposit and withdrawal transactions, and 100% reserves also fortify the digital coin exchange from various dimensions. CoinEx lists over 500 cryptocurrencies, which is much more than many top cryptocurrency exchanges. It trades almost all the top 20 cryptos by market cap, including Bitcoin, Ethereum, Binance Coin , Cardano, Solana, and Dogecoin. It also trades several stablecoins, such as Tether, USDC, UST, DAI, and more. CoinEx’s crypto withdrawal fees vary depending on the cryptocurrency.
- Each payment processor has a different fee structure, but there’s usually a set fee as well as a subpar exchange rate.
- Also, CoinEx supports mobile apps to facilitate a convenient and quality trading experience.
- The large volume of daily trades enables the company to stay competitive at low rates.
- Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions.
It is assumed that the user has already deposited BCH on their CoinEx account. Once your transaction gets completed, BTC will be available on the wallet. To be part of the coin distribution, users must be verified, and only those with a minimum of 100 CET tokens will get a share of the tokens. All token holders will receive their dividends at the start of the next day. Besides, when you submit a withdrawal request, you will be asked to reconfirm your withdrawal on your email before it gets automatically processed. That protects users from losing their funds due to withdrawal mistakes.
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There are more than 500 cryptocurrencies available for trading at CoinEx, including most of the popular assets with high market caps and high daily trading volumes. The whitepaper of CoinEx Chain was officially released on 28 June 2019. The token claims to be the world’s first public chain especially designed for DEXs. CoinEx Chain aims to create a decentralized trading system with community-driven operations, transparent trading rules, and self-controlled user assets.
Based on our judgment of the company and other reviews, it has built an excellent track record in the few years it has existed. CoinEx is designed for both beginners and advanced users due to its seamless executions, low cost, and suitable trading platform. But, US-investors should do their own independent assessment of any problems arising from their residency or citizenship. In a worst-case scenario, they may not be able to trade at one or several exchanges that could be the best cryptocurrency exchange site for them . Kraken Exchange is the first cryptocurrency exchange to appear on the Bloomberg terminal. This exchange ticks virtually all the boxes when it comes to sought-after features by both novice and experienced traders.
The fees are similar to or even often cheaper than other crypto exchanges. CoinEx offers professional, advanced, and fast crypto trading applications to give their mobile users a portable experience. With all the advanced features available, your trading experience won’t be compromised on mobile—you can have a full-fledged trading or investing experience. While making this CoinEx review, we noticed that it provides discounts on the trading fees after certain tiers of membership based on the user’s total trade volume . The withdrawal fee is different for each pair and can be referred to from the company website. Get to know more about its fee standard by visiting its official site.
CoinEx has set no cap on the number of people you can bring on the platform or the amount you can earn. 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. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.
This allows for the fast withdrawals and transfer of assets on the platform. The platform also has several mining pools that accelerate transactions to ensure the swift processing of deposits and withdrawals. The CET is a value-added service and privileges plan that is based on the CoinEx ecosystem. It also functions as gas on the CoinEX Chain and complies with ERC-20 protocols. CET can also be used as transaction fees for both spot and margin trading on the platform, provided you have enough tokens.
To trade or exchange cryptocurrencies on the go, users can download the CoinEx mobile app which is available for both iOS and Android platforms. Once your transaction gets completed, the coins will be sent to the given crypto address. The status of your withdrawals can be checked from the order history. CoinEx has stated that it won’t be using customers’ assets anywhere else and they are 100% reserved.
Some Awesome Benefits of the CoinEx Exchange
For VIP levels, the VIP0 makers pay 0.2% for spot trading and 0.14% when paying with CET. On the other hand, VIP5 members pay about 0.1% spot transaction fee and can enjoy about a 30% (0.03%) discount when paying with CET. For V1P1, VIP2, VIP3, VIP4, their spot fees fall between https://cryptolisting.org/ 0.2 – 0.1% without CET and 0.14 – 0.07% when paying with CET. However, the fee structure about to be explained is for spot trading and is quite different from the Perpetual transaction fees. The inexpensive fees on CoinEx exchange are one of the many draws of the platform.
While we may receive compensation from some of the products we review, you do not incur any extra charge whatsoever for using our content and clicking external links. Should you experience any issues with your account, the only method to contact their support team is by submitting a ticket. To do this you need to scroll down to the bottom right-hand corner and select ‘ticket’ in the Support section. For general queries, users can refer to the FAQs found in the same section available on the CoinEx website. Every cryptocurrency exchange will have its own fee structure and limits and CoinEx is no exception.
CoinEx Withdrawal fees
Unlike other crypto platforms, CoinEx does not let you deposit fiat money for free using a bank transfer, though users can deposit most cryptos for free. Users can buy Tether , USD Coin , Bitcoin , and Ethereum from various third-party payment processors on the site. In addition to spot trading, CoinEx offers margin and futures trading.
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Categories, thus enjoying greater convenience when investing in different cryptos. But the company got registered in Estonia and has been a fully registered and regulated exchange since 2019. However, the mining events on the platform are not ongoing and happen after intervals. CoinEx has a seamless user interface for both computers and mobile phones.
Security should always be at the core of every crypto exchange, and users should also take it seriously. The user interface of a service provider should be in a way to enhance user experience. Another crucial factor to consider is the privacy of user data and information on the platform, and how they are used. Since a platform is an avenue for users to access the services of an institution, it has a direct influence on customers. Again, in the crypto markets, the borrowed assets are given out as loans by other traders who earn profits in return.
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 what is coinex 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).
CoinEx has won the hearts of many customers due to the quick response of their support team. Although the platform does not support a live chat, they reply fast to the support forms submitted by customers. Another security function set up by the firm is the inspection of IP addresses. The security team of the company tracks irregularities in IP addresses.