CoinEx – A Convenient Global Digital Coin Exchange

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CoinEx is a digital asset trating platform which is aimed at both beginner and professional traders. The platform combines best practices and advanced technical features to meet the needs of different users.

As the cryptocurrency market is on the rise, seasoned traders and investors are looking for reliable and comprehensive trading platforms where they can buy and sell coins safely.

Unfortunately, a large majority of cryptocurrency exchanges only target a small audience, their teams don’t go out of their way to make the platforms truly convenient for everyone.

The CoinEx cryptocurrency exchange is an exception here. Let’s take a closer look at what sets it apart from the crowd.

Overview of the main features of CoinEx

CoinEx is a digital asset exchange founded in 2017. At the end of May 2021, the platform ranked 55th in the CoinMarketCap based on the total volume of transactions in the cash market.

Important facts about CoinEx:

  • Number of listed cryptocurrencies: 264
  • Number of trading pairs: 497
  • Traffic rank in the digital cash asset market: 41
  • Supported languages: Russian, English, Chinese (Mandarin and Traditional), Japanese, Korean, Indonesian, Turkish, Spanish, Vietnamese, Arabic.
  • Negotiation without registration: ** No
  • Buy cryptocurrency for fiat: *** Yes
  • Privacy Mode: **** Yes
  • Multilingual support attracts users from all over the world and thus helps increase liquidity.

** You must create an account before you can start trading. The procedure is simple and straightforward: users are asked to provide their e-mail and phone number (the system will send an SMS with the verification code). Additionally, the phone number can be used to enable two-factor authentication.

*** The exchange partners with several payment service providers that allow the purchase of crypto for fiat. For example, you can buy bitcoins through Simplex or MoonPay, Advcash, Paxful. Each system has its limits. The minimum deposit is the equivalent of $ 100. In total, CoinEx allows you to buy cryptos for 32 fiat currencies, including the US dollar and the euro.

**** Several limitations apply to unverified accounts. See more details below.

CoinEx displays prices in a user base currency, for example, US dollars, rubles, or Swiss francs. The exchange has a simple interface and instruments for professional trading, including various technical indicators.

CoinEx interface. Source: CoinEx Exchange

CoinEx has a mobile app for Android and ios. As reported on the official project website, the exchange serves clients from over 100 countries around the world.

Recently, the developers released a new interface which allows users to track prices and trading volumes of cryptocurrencies.

In addition, the platform has convenient filters to sort assets and settings. For example, by using favorite tags, you can quickly find DeFi projects or NFT tokens.

In addition, the developers have added information on market trends and analysis tools for the referral program.

CoinEx Fees

The fees depend on transaction volumes and the amount of CoinEx native currency, CoinEx Token (CET), held by the user. Below are the trading fees based on the amount of CET parked in the account:

CoinEx Fees. Source: CoinEx official website

In addition, the fees depend on the user’s transaction volume. The system calculates the data on a monthly basis.

CoinEx fee table. Source: CoinEx official website

Refer to official site to learn more about trading platform fees, including deposit and withdrawal fees.

CoinEx Referral Program

The exchange pays its users if someone signs up on the platform through their referral link. You can find it in the “account” section on the top panel of the platform, in the “referral reward” field.

CoinEx pays up to 40% of commissions received from guest users. However, the actual percentage depends on the number of CET tokens held in the invitee’s account:

  • VIP0 – up to 1000 CET – 15%;
  • VIP1 – from 1000 to 10,000 CET – 20%;
  • VIP2 – from 10,000 to 100,000 CET – 25%;
  • VIP3 – from 100,000 to 500,000 CET – 30%;
  • VIP4 – from 500,000 to 1,000,000 CET – 35%;
  • VIP5 – from 1,000,000 CET – 40%.

Guests can set the percentage of cashback they want to share with the people they have invited. For example, if a user with VIP3 has set a 5% cashback, the fees will look like this:

  • 25% to the invitee;
  • 5% to the guest.
  • Additionally, users can create up to 20 referral links and set different cashback percentage for different friends.

As of this writing, the main benchmarks of the platform by overall revenue are:

CoinEx Referral Program Income

It is important to mention that the invitee will receive the referral fee for one year after registration. To obtain payments for an unlimited period, you must register for the Ambassador program. CoinEx Ambassadors receive up to 50% commissions and up to $ 500 for marketing assignments.

Cryptocurrency exchange security

CoinEx uses a variety of tools to ensure the security of users’ assets and personal data. for example, the exchange offers two-factor authentication which can be enabled during the registration process.

TOTP authentication, anti-phishing codes, and transaction confirmation tools can also be used to enhance security. You can find them in the account settings section.

There is no information on CoinEx.com hacks. It confirms the effectiveness of the tools and strategies implemented by the team to ensure user safety.

Verification levels

Cell phone numbers and email addresses are all you need to start working on CoinEx. However, the verification level defines the limits applicable to the user account.

For example, a verified phone number and email address can withdraw up to $ 10,000 per day. To increase the limit to $ 1,000,000, you must verify your ID. The account status is displayed in the Account Level section.

What users are saying about CoinEx

In most cases, traders are positive about CoinEx. They like the fast system operation, low fees, user-friendly interface, and efficient customer support.

Most of the critical comments center around a small list of tokens available on the platform compared to other popular exchanges.

However, CoinEx believes that this approach makes it easier to focus on the most liquid coins instead of wasting energy on short-lived projects that regularly appear in the market and often create risk for investors.

Communication channels

The CoinEx team strives to get regular feedback from users. Moreover, the developers have launched several communication channels. For example, you can get answers to questions on the platform’s official website in a dialog box. In addition, users can get in touch with the team through social media platforms. Below are the most popular communication channels used by the exchange:

CoinEx ecosystem

CoinEx developers have chosen an integrated approach. Instead of focusing on a digital asset trading platform, they created a full suite of complementary projects. In addition to the trading platform, the ecosystem includes:

  • CoinEx smart channel. The CoinEx Chain team recently announced the transition from CoinExChain to CoinEx Smart Chain.
  • ViaBTC mining pool. One of the largest digital asset extraction platforms.
  • ViaWallet/ Decentralized multi-currency crypto wallet. It can be used to store digital assets and conduct transactions.

CoinEx has official APIs that can be used to integrate the company’s products into user platforms.

CoinEx also offers passive income through financial account and automated market making (AMM).

Users can deposit money into the CoinEx liquidity pool for automated market making. 50% of the trading costs are distributed among all liquidity providers on a pro rata basis.

For example, the ONES / USDT market generated a trading fee of 1000 USDT. If the user contributed 10% of the liquidity to the pool, he would receive 1000 * 50% * * 10% = 50 * 10% = 50 USDT as payment. (For CET trading pairs, users can receive 100% commissions).

A financial account helps earn passive income by providing loans for margin trading. As of May 21, the 7-day APY on the USDT was 13.3%.

Final thoughts

Despite some minor shortcomings, the CoinEx exchange deserves attention for several reasons, among which we can distinguish:

There is no information about the security vulnerability of coinex.com. The developers have provided users with all the tools they need to protect their accounts and assets.

The CoinEx exchange is easy to use. The platform has all the tools necessary for professional trading.

On CoinEx, you can buy cryptocurrency for rubles and tenge.

The developers used an ecosystem approach. The project offers a wide range of complementary digital asset products.

CoinEx supports anonymous trading. Email address and phone number are all you need to start trading.

CoinEx has a fully functional mobile application.

Disclaimer

All information on our website is posted in good faith and for general information purposes only. Any action that the reader takes on the information found on our website is strictly at his own risk.


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