COINEX REVIEW

Overview

CoinEx is one of the largest exchanges for bitcoin cash-priced assets (BCH) in the world, offering reliable access to hundreds of thousands of customers worldwide. Due to the fact that 85% of their users are international, and only 15% of China still uses them as a hub, China used to be their main market. CoinEx is a leading cryptocurrency firm that provides access to a diverse range of stablecoins as well as spot and perpetual markets. The exchange offers low fees as well as margin trading with security and a good User Experience. For many, forced KYC is the biggest draw, but the exchange has a lot more to offer.

In August 2020, the exchange created a hugely popular trade-driven mining programme that was hugely popular for a short while. Because of this, they currently rank between 40th among the 500+ cryptocurrency exchanges listed on data aggregator CoinEx MarketCap.

What Is CoinEx

CoinEx was launched in December 2017 and is headquartered in Hong Kong. It has more than two million customers in over 100+ countries and regions. Languages available include Chinese, English, Japanese, Korean, Russian, etc.

CoinEx is a start-up founded by Haipo Yang. He worked for Tencent TEG/Weibo and Futu Securities prior to founding CoinEx. He independently completed all the code for the ViaBTC mining pool in 2016, which was then launched two months later.

After that, he set up the CoinEx exchange. The rest of the team remains hidden, but the website proclaims that CoinEx core team members are veterans of world-renowned internet and financial firms, including the first adopters and experts of cryptocurrency who have decades of experience in global operations and services in the industry.

CoinEx does not require knowledge of customers (KYC), but those who want to proceed with them do so in exchange for significantly higher withdrawal limits and full access to all promotional activities on the platform. Those who do not want to verify their accounts either only need to submit their email address and set up a password (with a two-factor authentication option highly recommended) or use a simpler alternative such as their email address.

CoinEx Features

CoinEx includes all the features necessary for advanced and beginning crypto exchanges alike. Even veteran traders with high demands who prefer privacy will find everything they need on CoinEx. Here are some given features are given below:

Low Fees – Their fees are competitively low, in addition to that, they can also be reduced further by holding CET Coinex (CoinEX Token), their native token, or choosing it to pay your fees. Even if you pay with CET, you can get these discounts.

Huge selection of altcoins – CoinEx has a large variety of altcoins, including those that come on different protocol networks, as well as constantly adding new exciting projects that go through their vetting process.

No forced KYC – To get verified, all you need to do is enter an email address, a strong password, and 2-Factor Authentication; however, if you want to raise your daily withdrawal limit to 1 million USD, you must be verified.

High-Level Security – The cold wallet storage platform lets you be notified whenever anything happens on your account, just in case it is not you.

Detailed Help Center – The exchange’s support page has step-by-step instructions for just about anything you may have difficulty with, and you may contact them directly if you’re not sure how to proceed.

Free Deposit and Withdrawal – When a transaction is made on a blockchain, the miner fee will be charged depending on the blockchain, but deposits are free.

Coin Ex Fees

Using the CET token on CoinEx is the same as any other token on the platform. You can bind the CET token to the exchange (which affects the fee percentage) and transaction fees with CET (which nets you 30% off the amount owed). The total amount can even be displayed in the Spot Fees with Deduction column in the tables below.

The coinex trading fee discounts based on CET holdings are listed below.

VIP Level	CET Holding	Spot Fees	Spot Fees with deduction	Margin daily interest	Perpetual Fees
VIPO	0 CET	0.20%	0.14%	0.196	Maker 0.03% / Taker 0.05%
VIP1	1,000 CET	0.18%	0.13%	0.09%	Maker 0.028% / Taker 0.048%
VIP2	10,000 CET	0.16%	0.11%	0.08%	Maker 0.026% / Taker 0.046%
VIP3	100,000 CET	0.14%	0.10%	0.07%	Maker 0.024% / Taker 0.044%
VIP4	500,000 CET	0.12%	0.08%	0.06%	Maker 0.022% / Taker 0.042%
VIP5	10,00,000 CET	0.10%	0.07%	0.05%	Maker 0.0296 / Taker 0.04%

In case you have more CET than what you hold in your exchange wallet and you always wish to keep your funds off an exchange and in a private wallet, you may bind the address of a CoinEx wallet to your account. Your funds are still perfectly safe; all the exchange has is information about how many CET tokens you have. You can increase your VIP levels by this, so it might be worth considering.

Using Spot Market Making Levels, high-volume users can obtain additional discounts on Spot Market Making fees. Makers provide the “gasoline” for the market, as the exchange puts it; in other words, as they place an order and wait for the appropriate conditions to be met, their funds provide liquidity for the exchange. The takers are those who take up the orders that makers have placed, reducing market depth.

CoinEx offers free cryptocurrency deposits for all tokens, but deposit amounts and withdrawal amounts vary considerably between hundreds of different tokens, many of which are also available on different mainnets. Withdrawals do have a fee, but this also changes on a case-by-case basis. Users can check the exchange’s exhaustive list of all available tokens and their fees here.

CoinEx also offers special discounts on its automated market-making functions in order to liquidity providers on the AMM market. The AMM fee is calculated according to the market rules and the VIP rankings, CET discounts do not apply to these fee percentages. Every token has a minimum deposit and withdrawal amount that varies according to its type.

User Type	Normal AMM Fee Rate	Stablecoin AMM Fee Rate
Market makers	0.3%	0.1%
Coin Ex Users	0.3%	0.1%

All participants in CET markets can become liquidity providers, and 100% of transaction fees in all CET markets will be rewarded to them, along with 50% of transaction fees in other markets.

Advantages & Disadvantages Of CoinEx

This cryptocurrency exchange is suitable for experienced investors who are confident with advanced trading products.

Advantages Of CoinEx

There is a possibility of a discount on trading fees.
An easy-to-use interface
Performance payouts are high
There are a number of trades available.
The favourable fee structure
Core team is very experienced.
It is available in several languages.

Disadvantages Of CoinEx

Customers must be aware of licensing in order to use products
It is expensive to deposit fiat currencies.
Interest earning options are limited.
No support is provided for live/telephone questions.

Is CoinEx Secure?

The top priority when buying cryptocurrencies is obviously protecting the trading accounts and the marketplace itself. Coinex has taken steps to ensure the safety of the platform in order to facilitate development.

A high-performance matching engine	Many transactions with guaranteed stability
Complete Security	Coins and tokens are completely reserved and are not used for any other purpose
100% reserve	Two-factor authentication and HTTPS security protect user data.
Using IP data to track address changes	Guarantee safety
Multi-signature method and cold storage mechanism	Users are sent an alarm notification via SMS or email if the IP address changes frequently within a short period of time.

Final Thought

It’s an excellent cryptocurrency trading exchange for people looking for a high-volume spot trading environment with the possibility of making perpetual futures and margin trading decisions. There are currently a lot of supported tokens, which means you’ll be able to find a large variety of low-cap altcoins here. The user who prefers their privacy is especially well suited to the exchange.