CoinEx: The Exchange For Trading Bitcoin With 300 Exchange Pairs

CoinEx: The Exchange For Trading Bitcoin With 300 Exchange Pairs

If you are looking for a platform to do different types of trading with bitcoin, CoinEx is an exchange that represents an alternative. It is a crypto exchange with a daily trading volume of almost $ 200 million and about 380 exchange pairs, according to Coinmarketcap. It has official licenses from countries such as Estonia and provides its services in multiple regions around the world.

You may wonder what makes this exchange different from the rest and if it is a good option to operate in the cryptocurrency market. You can find out in this review that we have for you, where we will explain in detail and precisely what you should know about CoinEx before making a decision.

What is CoinEx?
It is an exchange for bitcoin and other cryptocurrencies that was founded in December 2017, and its headquarters are currently in Hong Kong . This exchange house provides its trading services in more than 100 countries, including many in Latin America. The company claims to be dedicated to building a highly secure, efficient and stable platform for users around the world.

CoinEx was created by the ViaBTC trading group , a cryptocurrency mining pool that is considered a market leader. The exchange belongs to an open and mature ecosystem made up of CoinEx Chain, a public chain for decentralized trading, and ViaWallet, a cryptocurrency wallet that stands out for its security and practicality.

The exchange has an exclusive trade machine system, that is, a patented matching engine that allows operations to be faster and safer. In addition, it strives to provide a good user experience. As revealed on its website , the members of the company’s main team are pioneers and experts in the world of cryptocurrencies, so they are able to contribute to designing a platform that meets the needs of the most demanding clients.

In CoinEx you can do different types of trading with crypto assets, but it is important that you take into account the risks involved in operating with digital currencies. On its website , the exchange makes the following warning:

‚ÄúTrading digital assets is considered high risk. Digital assets are NOT backed by any government or central bank. The risk of loss in trading or holding digital assets can be substantial. You should carefully consider whether interacting, holding or trading digital assets is right for you in light of your financial situation. ”

What are the services of the CoinEx exchange?
An advantage of CoinEx is that it has a wide variety of services, from cryptocurrency exchanges to margin trading. Let’s talk a little more about each of them.

Exchanges
The trading section of the platform is quite comprehensive. In it you can buy, sell or exchange bitcoin and other digital currencies for national currency, such as the US dollar, the euro and the Japanese yen. Upon entering this section, you will find a graph provided by TradingView showing the fluctuations of bitcoin in the market, as well as the option to buy or sell this cryptoactive. If you want to trade in another currency, simply select it.

Spot trading
You have more than 300 trading pairs to trade cash on CoinEx. You will have the option to buy or sell crypto assets simply and efficiently. The interface of the platform is designed so that anyone can use it without problems, which is an advantage for those who are starting in the world of crypto assets. In the spot trading section you will have access to multiple markets and relevant information that will probably help you when trading.

Margin trading
In this exchange you have the option to operate with leverages of up to 5x for bitcoin. However, the higher the level of leverage, the greater the risk of forced liquidation. Although it is true that you can magnify your gains, the same happens with losses, so it is advisable that you be cautious and make sure you understand all the risks involved.

Perpetual trading
At CoinEx it is possible to trade perpetual contracts. If you’re wondering, perpetual contracts are a type of futures contract that don’t have an expiration date. This means that you can hold a position for as long as you want. It operates with a leveraged margin to multiply the value of the funds.

CoinEx Token
The platform has its own token, CoinEx Token (CET), which was issued in January 2018 and is based on the CoinEx business ecosystem. Users who acquire this token have access to different benefits , such as discounts on fees, exclusive customer service, and faster withdrawals and other operations. It is possible to exchange CET for other currencies or tokens.

What do you need to sell or buy bitcoin with CoinEx?
The process to sign up for CoinEx is straightforward and only takes a couple of minutes. The necessary data are email, password, a reference code and a verification code that they send to the email you indicate. Once you read and agree to the terms and conditions of the company, they will request that you activate two-factor authentication to increase the level of security of the account.

You have two options of 2FA, receive a code by SMS or use the Google authenticator. After you enter the code, you can make a deposit to start trading.

User registration screen on the CoinEx exchange
With a Visa credit card, you can buy cryptocurrencies with national currency or deposit crypto assets to the wallet address of your CoinEx account. The minimum deposit for bitcoin is 0.001 BTC.

To increase the maximum withdrawal limit in 24 hours, you must verify your identity. If you don’t, the limit is $ 10,000. To verify identity you have to provide personal data such as name, surname, country in which you reside, passport number, front and back photo of the identity document and a photo in which you hold your identity document and the statement, which is a poster in which “CoinEx” is written and the date of sending of this data. After completing this process, the maximum withdrawal limit will increase to $ 1,000,000 .

Characteristics of the bitcoin trading exchange

Safety
The company claims to have an elite technical team to make the platform one of the safest on the market. With its patented high-speed pairing motor , every operation is done correctly, adding stability to your system. To log in, you must do it with two-factor authentication, so it is more difficult for your account to run the risk of being compromised.

To prevent identity theft, money laundering, and other crimes, CoinEx is KYC verified. On the other hand, CoinEx ensures on its website that all user funds have a 100% reserve guarantee, which means that your money is protected in case of any inconvenience. The exchange has cold storage and multi-signature strategy. If your IP address changes frequently in a short period of time, you will receive a notification by email or SMS.

Interface
In general, the interface is well suited to the needs of all types of traders. The system provides graphs with data taken from TradingView, which allows you to obtain market information in real time . It is possible to access different markets easily and opening an order only takes a few minutes. There is a section in which the orders placed are detailed, classifying them according to the type of trading.

Screen for trading on the CoinEx exchange
The platform is available in 11 languages, including Spanish, English, Russian, Turkish, Chinese, Japanese, and Indonesian. Making withdrawals or deposits is not a problem due to how intuitive its interface is, you simply have to choose the currency and the payment method.

A point in favor of CoinEx is that it has a community of traders in which investment strategies are discussed and relevant information about the crypto market is shared. It has media such as Telegram, Facebook, Twitter, WeChat, Medium, and Reddit.

CoinEx has a mobile application available for iOS and Android devices. Something striking is its simple and practical design , which makes it a really useful tool for all those who want to operate from anywhere.

In the home of the application you will find two menus of well differentiated functionalities. The first is in the center of the home and contains the links for various CoinEx services and information, while the second menu is at the bottom and is exclusively for trading crypto assets.

It has the same functions as the desktop version of the platform, but in a simpler way. Its GooglePlay score is 4.3 / 5.

Customer service and support
In case you have any questions or problems, the platform has a help center with articles that answer the most frequently asked questions. The downside is that, for now, it is not available in Spanish. Another option is to send them a message through their chat, in which they request your email address and specify the type of problem you have. If you want, you can attach up to five files before sending the message. This service is available 24/7 .

Payment methods
A negative point of this exchange house is that it has few methods to deposit and withdraw funds. It allows you to use a credit card to deposit in national currency , be it USD, EUR, GBP, JPY, RUB and others.

To make deposits with national currency, you have to verify your identity. The company is associated with other payment systems, such as Simplex, MoonPay, and Mercuryo. As for withdrawals, you can only make them with cryptocurrencies.

Cryptocurrencies
Today, CoinEx has more than 200 different cryptocurrencies , including the most popular ones such as bitcoin, ether, bitcoin cash, litecoin, EOS, XRP, NEO, cardano, dogecoin, dash, TRX, and chainlink. It is also allowed to trade with CET, the platform’s own token. With more than 300 trading pairs, there are many possibilities on this global exchange.

Liquidity
According to Coinmarketcap , the liquidity for its most traded pair, BTC / USDT, is 532/1000 points. The higher this score, the greater the liquidity in a market. This places CoinEx as an intermediate liquidity exchange, which means that you shouldn’t have too many inconveniences when trading large orders.

In which countries is it available
CoinEx provides its services in more than 100 countries , including several in Latin America, such as Brazil, Bolivia, Venezuela, Uruguay, El Salvador, Paraguay, Puerto Rico, Peru, Panama, Nicaragua, Mexico, Honduras, Guatemala, Ecuador, Costa Rica, Cuba, Dominican Republic, Colombia, Chile and Argentina. It also operates in the United States and Spain.

What are CoinEx fees and commissions ?
CoinEx trading commissions are based on two schemes, one of them is the maker-taker. The highest commission for maker and taker is 0.2% . This is an average fee in the market, although it is higher than that of exchanges such as Binance , which is only 0.1%, or Bitpanda , which is 0.1% for maker and 0.15% for taker. However, the commission decreases the higher the volume of trade.

The second scheme is based on the number of CET tokens the user has, which is known as the VIP level. The highest spot rate is 0.14%, while the lowest is 0.07% , so there is a significant reduction in the cost of operating for those customers who have CET.

There is no deposit fee for any crypto asset. Withdrawal fees vary according to the cryptocurrency. In the case of bitcoin it is 0.00064 BTC , while that of ether is 0.0076 ETH. On the CoinEx website you will find more information about their commissions .

Advantages and disadvantages

Advantage
The company obtained official licenses from Estonia.
Available in more than 100 countries, including several in Latin America.
You can buy cryptocurrencies with national currency.
There are several trading options, such as spot, derivatives, margin, and perpetual.
There are more than 300 pairs to trade in different markets.
It has a decentralized trading platform.
It has a community of traders to exchange ideas.

Disadvantages
Few payment methods are accepted.
The support and customer service is not available in Spanish.
Withdrawal fees are high.
Conclusion: Is it safe to trade bitcoin with the CoinEx exchange?

The performance of the CoinEx platform is satisfactory in most cases. As for its level of security, it is high. In fact, according to the company itself, its clients’ funds have a 100% reserve guarantee and are kept in cold storage. Besides, it is a regulated exchange that has Estonian licenses. It operates in a large number of countries, including Spain, the United States and most of Latin America.

Provides multiple options for trading bitcoin, such as spot, margin, and perpetual contracts. It is one of the exchanges with the most available exchange pairs and has a decentralized platform from which it is possible to trade with its token, CET. Additionally, it has a community of traders that provides you with really useful information, regardless of whether you are a beginner or an expert.

Now, you must bear in mind that, like any platform, it also has weak points. Deposit and withdrawal methods are limited, and trading and withdrawal fees are high compared to other exchanges. In addition, the support and customer service is not available in Spanish, at the moment. Despite this, CoinEx can be considered a good option for trading bitcoin and other cryptocurrencies.

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