CoinEx is a cryptocurrency exchange based in Hong Kong. It was founded in 2017 and offers over 100 different cryptocurrencies for trading, including Bitcoin, Ethereum, Litecoin, Ripple, NEO, and more.
The coinex exchange review is a cryptocurrency exchange that offers trading for Bitcoin, Ethereum, Litecoin, and more.
If you’re looking for additional information about the CoinEx cryptocurrency exchange, you’ve come to the correct spot. Read our in-depth analysis of CoinEx to learn more about it and decide whether it’s the perfect exchange for you. We’ll go over the basics of CoinEx and teach you how to sign up for an account. So, without further ado, let’s get down to business using CoinEx.
Who are CoinEx and what do they do?
CoinEx is an international cryptocurrency exchange that was founded in late 2017. The members of the CoinEx core team, headed by Yang Haipo, are among the finest financial and internet experts in the world. Early bitcoin adopters with extensive international expertise make up the CoinEx team.
The business, like Binance and Bitifinex, is based in Hong Kong and is a sub-brand of ViaBTC, which Haipo also established. CoinEx has formed and maintained connections with other cryptocurrency-related organizations. They have notable collaborations with Blockchair and Bitcoin Cash.
CoinEx services are now accessible in over 100 countries. It does not, however, cover locations where digital currencies are prohibited. It is only accessible to inhabitants of the United States, owing to the absence of conventional money. CoinEx provides its customers with a proprietary trading system and claims to be committed to delivering an efficient, reliable, and secure exchange.
Our Step-by-Step Guide to Using CoinEx
We’ve covered all you need to know about the CoinEx digital currency exchange in the tutorial below. Everything you need to know about CoinEx, from account creation to trading costs, is covered in this step-by-step CoinEx tutorial.
Finding a bitcoin exchange that is suitable for you may be difficult. Thankfully, you have us here at Total Crypto to cut through the noise and provide you with the knowledge you need. Here are some important information about CoinEx that you may find helpful to get you started.
A Wide Range of Crypto Trading Options
Users may select from a wide variety of coins. Users will identify the main currencies as being utilized on all other major exchanges. Bitcoin, Tether, Ethereum, Bitcoin Cash, and a slew of other cryptocurrencies are among them.
When it came to protecting its foundation, the Coinex platform used a variety of methods. You can be certain that all of your transactions and payments are safe and secure thanks to its “Full Dimension Protection.”
Interface that is easy to use
The CoinEx platform is easy to use and understand. Whether you’re new to the CoinEx system or a seasoned cryptocurrency trader, moving around and navigating the exchange is simple.
OTC Transactions that are quick
CoinEx has the ability to handle Over-the-Counter transactions rapidly. This implies that transactions on CoinEx aren’t restricted to particular currency standards; instead, trades may be conducted using digital currencies.
Methods of Payment
The CoinEx platform, which is similar to other exchanges like Poloniex and Binance, is the sole place where you may trade cryptocurrencies. CoinEx does not presently accept deposits in fiat currencies, therefore you’ll have to start trading with cryptocurrencies from another site.
Many digital currencies are supported by CoinEx, and more are added as users vote them in. Users may guarantee that the digital currencies they wish to trade are accessible in the marketplace by voting them in.
Referrals from friends
Users may recommend friends to the exchange in order to receive extra incentives. Users may earn CET (CoinEx Token) to trade on the CoinEx platform by referring their friends.
Exchange Fees on CoinEx
When utilizing the CoinEx digital currency platform, users may anticipate to pay the following fees:
Maker and taker fees are used on CoinEx’s platform. Traders that will sell or purchase at a certain price are known as market makers. The market’s depth is created by these users. Takers, on the other hand, go out of their way to find a suitable buy/sell option before accepting it. Both the maker and trader fees are 0.1 percent.
Withdrawals and deposits are subject to fees since CoinEx does not charge as much as other exchanges. Other currencies, with the exception of Bitcoin Cash, which does not have a charge, must pay a fee that fluctuates. The costs for withdrawal and deposit may be seen on the CoinEx website.
Consider the following:
Here are a few things to think about before we get into how to set up your CoinEx account and start trading.
When it comes to security, CoinEx employs a Captcha identical to the one used by Binance. Along with trade authentications, customers may set up SMS or two-factor authentication (2FA) for account security. Every time a user conducts an action on their account, CoinEx provides an alert system that serves as a login and trade notice.
However, keep in mind that the exchange isn’t secured and that the online wallets don’t utilize cold storage. As a result, keeping significant quantities of your coins on the exchange is not advised.
Information on Trading
From a trading standpoint, there are a few factors to keep in mind. BitMEX and Bitfinex both provide margin trading, while CoinEx does not. Stop, limit, and market orders are among the standard trading features. The interface provides more experienced traders with the information they need to make well-informed transactions.
The color style and charts on the trading page may be customized by users. As required, they may add indicators and extend graphs. Unfortunately, unlike BitMEX, these parts do not have the possibility of being relocated.
CoinEx, like many other digital currency exchanges, does not offer a phone number, live chat, or email option if you have a problem with their site. You do, however, have a few choices. CoinEx offers a Help Center where you may sift through problems and attempt to find a solution that meets your requirements. The second option is to file a ticket and wait for the platform to respond.
To open a CoinEx account, go to https://www.coinex.com
The first step in getting your CoinEx account up and running is to join up. Go to the CoinEx website and click the “Sign Up” link in the upper right corner.
You’ll input your email address on the following page, which will send a message to your inbox. Get the verification code from your email and paste it into the box below your email address. If you got an invitation code, enter it together with your password. You’re ready to go on to the next stage after clicking that you agree to the terms and services.
Keeping Your CoinEx Account Secure
You’ve successfully logged into your account. You may change your password here by clicking on “Security.” You may also enable your trade verifications and set up your two-factor authentication. You have the option of selecting Never, Every Two Hours, or Every Time.
Authentication using two factors
2FA is a fantastic method to boost the security of your account. Even if someone gets to obtain your password, they’ll need a randomly issued code to gain access using two-factor authentication.
Enable 2FA with CoinEx by selecting the “Bind” option on the right side of the Security screen. You may use Google Authenticator, mobile SMS, or both to do this. When you choose “Bind,” a popup will appear, guiding you through the process of protecting your account with 2FA.
Keep an eye on what’s going on with your account.
Enable “Trading Authentication” in your security settings as well, and you’ll get alerts whenever your account is used. Sure, the notifications may be annoying, but isn’t a little annoyance worth the assurance that your account is safe?
For identity verification, CoinEx employs a tiered-level screening method. Users may choose from three different levels. The initial level is made up of unverified users. To get started trading, you just need to validate your phone number and email address. You may withdraw up to $10,000 each day at this level.
Users with the Basic level of authentication may withdraw up to $1 million per day. However, users must submit either a scanned passport or another kind of identity. The advanced verification level, which has no withdrawal restrictions, is completed utilizing the mobile application and webcam confirmation.
CoinEx is a cryptocurrency exchange.
CoinEx is an excellent platform for both beginners and experienced cryptocurrency traders. The user interface is basic enough for beginners to use, yet it provides enough data and information for traders to conduct technical analysis when necessary. Let’s have a look at how to purchase and sell coins on CoinEx for now.
You’ll need to deposit your coin of choice before you can begin trading on CoinEx. At the top of the screen, choose the “Wallets” option. You’ll be presented with a list of digital currencies from which to pick. Select “Deposit,” then follow the prompts to add your chosen coin to your wallet.
Return to the main CoinEx screen, and approximately halfway down the page, you’ll see tabs for some of the more popular cryptocurrencies. BCH, BTC, ETH, CET, USDC, and USDT are all options. Select the desired tab, then click the far right-hand “Go Trade” option.
We’ve arrived at the point when the magic occurs. As you can see, your choices to “Buy” and “Sell” your chosen cryptocurrency are located approximately halfway down the page. Limit, Market, and Stop-Limit are the three kinds of trades available here.
You may also choose how much of your current total you wish to purchase or sell from this screen. From 0% to 100%, you may choose in 25% increments on CoinEx. You may also manually input an amount if you want. Click “Buy” or “Sell” when you’re satisfied with your decisions. You’ve just completed your first CoinEx transaction. Congratulations!
Invest in an Offline Wallet.
Remember that after you’ve finished trading for the day, the safest way to keep your coins safe is to save them in your own offline wallet. Digital currency exchanges enable you to trade your coins and the assumption is that they will keep them secure, just like a bank would with conventional money.
The disadvantage of storing them on the exchange is that if it goes down or is hacked, you will almost certainly lose all of your coins. When everything is said and done, moving your digital currency to your own wallet is the wisest course of action. As a result, you will know precisely where they are and have complete control over them.
The following is a brief rundown of some of the benefits and drawbacks of utilizing the CoinEx bitcoin exchange.
- There are a plethora of cryptocurrencies to choose from.
- Deposits are free of charge.
- Fee structure that is open and transparent
- Low trading commissions
- Simple to use
- Available all around the world
- Signing up is simple.
- Application for mobile devices
- There are no fiat currencies accepted.
- Margin trading is not possible.
- Minimum deposit and withdrawal amounts are needed.
- Fees for withdrawals are levied.
CoinEx is an excellent choice if you’re new to cryptocurrency trading and searching for a decent place to start. You won’t be able to utilize leverage or margin trading, but if you’re still learning, these features are likely to be essential to you. While paying a charge for withdrawals isn’t ideal, CoinEx does provide liquidity if that’s a feature that’s essential to you.
CoinEx may not be as helpful to people with more expertise trading cryptocurrencies as some of the other exchanges that provide more in-depth trading strategies. CoinEx does not provide margin trading, and although you may personalize your screen, the platform has certain restrictions that seasoned traders may find frustrating.
CoinEx, on the other hand, is a good location to trade if you’re looking for a long-term investment. You may use two-factor authentication and notifications to be notified if trade is taking place without your knowledge. It may have flaws, but it does provide users the option of making their accounts more secure.
From a general standpoint, CoinEx is a reliable exchange. It’s simple to join up and get started, and the several degrees of authentication allow users to choose what restrictions they want on their accounts. Buying and selling is easy and uncomplicated, and withdrawing and depositing money is more simpler than on other exchanges.
Although there are certain areas that might be improved, CoinEx does an excellent job of making things simple for novice traders. As a result, if you’re searching for a simple way to get started with cryptocurrencies, CoinEx is a fantastic place to start.
DISCLAIMER: The activity of the cryptoassets discussed in this paper is uncontrolled. This post is not intended to provide financial advice. Always do independent research.
The coinex withdrawal is a cryptocurrency exchange that allows users to trade and purchase cryptocurrencies with fiat currencies.
Frequently Asked Questions
Is CoinEx a good exchange?
I dont know.
Is CoinEx safe and legit?
CoinEx is a trustworthy exchange that has been around since 2014.
Can US residents use CoinEx?
Yes, US residents can use CoinEx.
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