Having started in Hong Kong, CoinEx has become one of the more reputed names in cryptocurrency exchanges worldwide. CoinEx is a cryptocurrency exchange and a service provider for various blockchain-based products. The exchange has multiple features that make it an enticing option as a coin exchange platform. CoinEx has many supported crypto assets and fiat currencies on its trading platforms, offering users many options. CoinEx has various incentives for high-volume cryptocurrency trading as well as for beginners through an attractive and easy-to-use interface.
To know more details on this crypto asset exchange platform then read this below CoinEx review thoroughly and start exploring!
|Supported Fiat Currencies||INR, USD, EUR, GBP, & more|
|Minimum Deposit||Depends on Currency|
|Transaction Fees||Depends on Currency|
|Withdrawal Fees||Depends on Currency|
|Customer Support||Help centre,FAQ & Submit Ticket|
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What Is CoinEx?
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.
CoinEx Platform Interface
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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
Based on our CoinEx review, the platform offers a wide range of features as an exchange:-
- 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 the best 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.
Products Offered by CoinEx
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CoinEx Exchange Review: Pros and Cons
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 Sign Up Process
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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.
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.
Multi-cryptocurrency Wallet by CoinEx
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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 Supported Cryptos
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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 Review: 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.
CoinEx Security & Stability
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CoinEx Customer Support
Based on our CoinEx review, the company provides round-the-clock customer service through emails and other digital mediums. The support team has not had a clean record as some customers have faced difficulties with trading services. Market makers have had better experiences with the support team of CoinEx as per an aggregate of online exchange review data.
CoinEx Customer Support
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CoinEx Review: Conclusion
CoinEx is a cryptocurrency exchange that can be accessed from most geographic regions and offers a fluid, seamless & friendly platform for individuals to do the largest asset exchange. With a highly capable ecosystem of digital platforms and services, CoinEx stands as one of the giants in the domain of cryptocurrency trades.
Is CoinEx Regulated?
CoinEx was not regulated in the past. But the company got registered in Estonia and has been a fully registered and regulated exchange since 2019.
How Do I Withdraw Money From CoinEx?
The process of withdrawing money on CoinEx is simple. The users can enter the asset they wish to withdraw (with respective charges) and submit a request. After the internal clearance, the exchange will issue the transfers to the entered wallet addresses.
Is CoinEx Exchange Safe?
CoinEx has implemented a variety of security measures on its various platforms. It upholds a reputation of a safe and trustable exchange.
How to Cash Out on CoinEx?
The users can not withdraw the funds in the form of cash or fiat currencies. Only crypto-assets can be withdrawn from the platform.
Source link: https://www.cryptonewsz.com/cryptocurrency-exchange/coinex-review/