The CoinEx cryptocurrency exchange is an international crypto trading platform founded in 2017. It is a rather developed platform, offering its clients not only 860+ markets for trading cryptocurrencies, but also quick coin exchange, access to partner services for buying crypto with fiat and vice versa.
CoinEx website and apps offer traders all types of trading: spot and futures. The exchange’s platforms feature interactive CoinEx TradingView charts to help traders quickly evaluate market situations.
According to CoinMarketCap, over 500,000 users from across the world visit the exchange daily. CoinEx offers 579 cryptocurrencies, which is one of the best indicators in the market.
The crypto exchange also offers several passive income options. They include a possibility to become a market maker of the platform, and also create a financial account to earn interest from the funds you provide. Also, CoinEx regularly has various special offers. For example, users can improve their rating and receive additional bonuses or a financial reward. The services of the exchange are described in more detail below.
|Commissions and fees||7|
|Security and regulation||5|
|Deposit and withdrawal||8|
|Regulation||Information not available|
|Taker’s fee||0.2% – spot, 0.05% – futures|
|Maker’s fee||0.2% – spot, 0.03% – futures|
|Minimum deposit||from 0.001 BTC|
|BTC withdrawal limits||from 0.001 BTC|
|USD withdrawal limits||$10,000 for verified clients|
|Withdrawal in Fiat||Not available|
|Time frame for account opening||5 minutes|
|Leverage||Up to 10x for spot trading and up 100x for futures trading|
|Passive income options||Market making, financial wallet, partnership programs|
|Customer support languages||English, Russian, etc.|
|Withdrawal fee||Depends on the chosen currency|
|Deposit methods||Crypto wallets|
|Withdrawal methods||Crypto wallets|
|Account currencies||USDT, BTC, BCH, ETH|
At first glance, it may seem difficult to a beginner to understand the fee schedule of CoinEx. Indeed, the exchange offers several VIP levels. Also, there are market making levels, with discounts on various types of fees once a specific level is achieved. Notably, you need the trading volume for the previous month to be ≥ $5,000,000 in order to achieve the first market making level. Therefore, only experienced traders who have spent some time on the platform trading crypto can expect certain discounts.
As for VIP levels, users need to hold CET, the exchange’s native token, to improve their level. The more CET you have, the higher the level, and the lower the fee. The discount on the fee applies to both spot trading and futures trading. As for deposit/withdrawal fee, and the use of borrowed funds in margin trading, the interest rate directly depends on the chosen currency. The website features a detailed table with all types of fees here: www.coinex.com.
Trading fees charged by CoinEx are not fixed. New users who just registered and haven’t received any discounts yet are offered the following conditions:
The first way to get discounts is to use CET, the token of the exchange, in trading. The higher your CET holdings are, the higher the VIP level you can reach. The discounts are specified in the table below.
Notably, discounts will be the highest, if a trader decided to pay the fee with CET. In this case, the fee for spot trading will be 0.16% for makers and takes even at VIP 0 level.
The exchange offers additional discounts for market making. To be eligible for the discount, a trader’s trading volume for the previous month must be at least $5,000,000. Next, based on the rating, a trader will be able to reach higher levels thereby reducing the fee.
The average indicator for each category is calculated for spot trading, without taking into account discounts for the token level.
CoinEx provides users with leverage for spot and futures trading. In spot trading, leverage is available only for certain currency pairs. The maximum leverage is 10x for BTC/USDT and ETH/USDT. For other currency pairs, leverage is limited to 3x and 5x. In futures trading, leverage is available for all currency pairs: 100x for BTC/USDT and ETH/USDT, and 50x for other pairs.
Traders pay a daily interest rate for using borrowed funds. Its size depends on the chosen coin and the VIP level. For example, beginners with the VIP 0 level pay 0.1% for using borrowed funds in most popular cryptocurrencies: USDT, BTC, ETH, etc. Interest rate is higher, ranging from 0.15% to 0.3% for using such currencies as ICX, IOST, ENJ, DCR and others. The rate can be reduced by two times once you reach the top VIP level.
Despite the fact that CoinEx claims to be highly reliable, and there is information on its website stating that the crypto exchange has had no hacks, no specific information about security measures was found. Assets of users are stored in cold wallets, and the exchange also executes up to 10,000 TPS using a proprietary trade matching mechanism. Numerous reviews about the CoinEx exchange also speak of a high level of security.
There is no information about the official license and regulation on the website. Internet search yielded that the regulatory authorities of the exchange are located in Estonia and the U.S. Also no information was found about the owner of CoinEx, as the support service did not respond to the request. Wikipedia also does not provide any information about CoinEx.
CoinEx provides traders with access to spot and futures trading. There is leverage available for both.
The most popular currency pairs include CET/USDT, USDC/USDT, BTC/USDT, etc. The first pair has a CoinEx Token, the native token of the exchange. The daily trading volume on the exchange is $47.6 million. CoinEx is considered to have average liquidity, according to CoinMarketCap.
|Cryptocurrency funds (a basket of cryptocurrencies in one lot)||No|
The CoinEx crypto exchange offers access to trading 570+ coins including USDT, BTC, BCH, ETH in the spot market. Less popular coins include AAVE, CELR, REQ, SCRT and others. Most of the popular cryptocurrency pairs are available. Unlike many exchanges, CoinEx still provides access to trading Luna.
Future trading is also available on CoinEx. Traders can choose both linear and inverse contracts. For the prior, they can use margin in USDT. This means that it is not necessary to transfer assets into other coins, as well as pay margin – everything is available in USDT. If you choose an inverse contract, you need to receive a margin in specific currency, for example ETH, in order to buy it.
The exchange offers a rather high leverage for futures trading. For some contracts it is as high as 100x. For most contracts, leverage is 50x. The interest rate payments for using borrowed funds are described above.
If a trader needs to swap currencies, such an option is available in the top menu. You only need to specify the amount for both coins, review conversion conditions and, if they are suitable, confirm the action. It is important to know that the swap option is available only to verified users.
In cases when you don’t have cryptocurrency in your wallet and want to buy it for fiat money, for example using a bank card, you can use the services of the exchange’s payment partners. For that, you need to click Fiat in the top corner and select a suitable offer. Notably, the specified exchange rates may turn out to be invalid. You need to check partners’ websites to find accurate information.
Creating a financial account is one of the ways to earn passive income on CoinEx. By keeping assets on such an account, a user can expect to earn a certain percentage yield for providing funds as a loan. The exchange distributes 70% of the paid margin. The total amount of such yield directly depends on how much money was attracted.
Each client can also become a market maker. For this, first you need to select the market in Automated Market Making, and then deposit funds to the pool. This way, liquidity of the market is supported as well. And the user can earn up to 50% in dividends.
One should also not forget such a feature of CoinEx as token listing. This service allows you to list your own tokens and earn from selling them. Partnership and referral programs are available. There are several options. For example, a user can become an ambassador of the exchange and promote the platform on various resources, earning a percentage for referred clients within the month. The rewards can reach up to 50% of the fees paid by referred users.
The registration on CoinEx is quite simple – just a small electronic form. Once the registration is complete, you will also need to verify your email. You will use the information specified in the registration form to sign into your user account. If you complete all steps correctly, you won’t have any issues with depositing funds and trading.
According to the CoinEx Terms of Service, residents of a number of countries may not be able to use all functions of the platform due to regulatory policies of certain countries. However, the list of such countries is not provided.
The algorithm for opening an account on the CoinEx crypto exchange is very simple. However, if this is your first time registering on an exchange, it is best to read a detailed guide in order to avoid mistakes and issues. This is a step-by-step guide:
Click Sign Up in the top right corner of the website, or the same button on the homepage of the website www.coinex.com.
In the registration form that opens, provide your email, and come up with a password. Users are advised to use random combinations of letters and numbers to ensure that the password is secure. Tick the box confirming that you’ve read and agreed to the terms of service and click Sign Up.
Next you will have a captcha, which you will need to complete to go to the next step.
Next, you will see a window for email verification. Enter the code sent to your email and click Confirm.
You can now access your account, make a deposit and start trading.
|Minimum deposit||0.001 BTC||$1 (for trading Spot 10)||$1 (for trading Spot 20)|
There is only CoinEx Wallet available at the exchange, which traders can use to make deposits. Once the deposit is made, the funds can be distributed among accounts – spot, futures, margin, etc. by using internal transfers.
It is not difficult to deposit funds. Go to the Wallet tab, which you can find in the top menu and follow this simple instruction:
The minimum deposit depends on the chosen currency. For example, the minimum deposit in Bitcoin is 0.001 BTC. There are no limits on deposits in USDT. You can learn about the minimum deposit amount by simply selecting the currency and viewing the information on the right side of the screen.
As for withdrawal, a similar mechanism is used. You need to select the coin and network for withdrawal and enter the recipient's details. To complete this transaction, a user will need to set up two-factor authentication. This will improve transaction security. As for the minimum withdrawal amount, it also depends on the cryptocurrency. The maximum withdrawal amount is $10,000 per day. If you want to raise the limit, you will need to verify your identity.
Note that a fee may be charged on deposits and withdrawals. It varies depending on the currency and chosen payment method. Deposits in most coins are not charged with a fee, but there is a withdrawal fee. You can view more detailed information here: www.coinex.com.
Traders can use CoinEx for spot and future trading on a single platform, available on the main website and as apps for various mobile devices. CoinEx apps can be downloaded by using the QR code or links on the crypto exchange’s website.
All platforms of the cryptocurrency exchange offer the same set of functions and features. They are available in several languages, including English, German, Spanish, etc. Users can also select the fiat currency they will use to evaluate the current price. Available currencies include U.S. dollar, euro, Kazakhstani tenge, etc.
|Web version||Mobile version||Apps|
|Time frame range1 minute – 1 month||1 minute – 1 month||1 minute – 1 month||1 minute – 1 month|
|Order typesLimit, Market, Stop-Limit, Stop-Market||Limit, Market, Stop-Limit, Stop-Market||Limit, Market, Stop-Limit, Stop-Market||Limit, Market, Stop-Limit, Stop-Market|
The CoinEx trading platform has a classic design and set of features. This means that even a newcomer to cryptocurrency trading can quickly understand and use it. In addition, if you’ve already been a client of other exchanges, most options of the CoinEx platform are similar and you won’t have any difficulty using them. As for experienced traders, CoinEx offers the full set of features required to execute trades of any complexity.
Interface of the CoinEx crypto exchange deserves special mention. It is quite simple and intuitive, which user reviews about CoinEx confirm, although it is not as colorful and multimedia-intense, unlike many other platforms. Users can see all main sections on the homepage, at the top of the screen.
There is an advanced menu in the page footer with contact information and links to its pages on social networks. The interface of the mobile version of the platform and apps is similar, although the design is customized for the use on vertical screens of smartphones. All sections and features are the same. Below is a detailed review of the CoinEx cryptocurrency exchange, which reveals its strengths and weaknesses.
Understanding how to work with spot trading on this cryptocurrency exchange, traders need to consider the several order types available here:
The special feature of spot trading on CoinEx is that margin lending can be used for it. However, it is only available for some currency pairs. Detailed information about leverage was provided above.
The CoinEx crypto exchange does not have an analytics section on its website. However, once you access the blog, you can find a section with the latest research about the exchange and cryptocurrency world in general. The blog also features news and latest updates on the platform.
The crypto exchange offers several options for education and learning about its features and functions. The first option is the CoinEx Academy, which you can access by going to the Blog. The Academy features explanatory articles, step-by-step instructions, and guides. The second option is tutorials, which are available on many pages of the exchange’s website. Tutorials provide explanations on how to make a deposit and withdrawal, open a financial account, and start trading.
Users also should check out the Help Center in the footer of the website. It has a question-answer format and contains answers to frequently asked questions of traders.
Traders can contact CoinEx customer support via email or live chat. There is a live chat button, and you can also read FAQs.
Despite the fact that the cryptocurrency exchange claims to quickly respond to user requests, we received no response to our questions.
You can use the following communication channels to contact the CoinEx customer support:
Users can also visit social media pages of the cryptocurrency exchange.
Customer support of the crypto exchange is multilingual. You can send requests in English, Spanish, German or other languages.
CoinEx offers many promos to its clients. For example, users can earn rewards in a specific cryptocurrency for completing tasks, such as participating in trading of 8 futures contacts, including DOGEUSDT. At the time of this review, no promotions of this kind were available on the website. However, previously held ones allowed users to earn worthy rewards.
Airdrops is another promotion offered by the crypto exchange. To receive crypto coins in this case, users need to answer questions. Designation of such assets may differ. All details can be found in the Promotion section on the CoinEx website.
Like many other exchanges, CoinEx has its advantages and disadvantages. The undisputed advantages include a wide choice of cryptocurrencies, using which every trader can find the best market at any time. A possibility to participate in special programs for earning passive income is also an advantage.
In terms of the fees charged by the exchange, it is difficult to give a straight answer to the question of whether they are high or low. Newbies are not offered the best conditions, with the trading fee set higher than by other popular exchanges. However, by raising your account level, you have an opportunity to reduce your fees. Also, the conditions for depositing funds to the account cannot be considered good or bad. On the one hand, there is no deposit fee, but one the other – the minimum amounts are rather high.
The crypto exchange also does not provide for deposits and trading with fiat money. However, it is possible to use partner services to deposit funds in fiat from a bank card, for example. Considering all of the above, the CoinEx cryptocurrency exchange is a good option for experienced traders, who are prepared to trade in large amounts. Meanwhile, the conditions of this platform are not the best for a person who is only starting to trade crypto.
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