Coinexchange: The Best Place To Invest Your Money?

CoinExchange is a third-party cryptocurrency exchange that is no longer available, having closed in 2019 due to financial issues. It was a crypto-to-crypto platform, meaning it did not deal with real-world currencies such as USD, GBP, or EUR. The exchange offered a range of features, including a simple platform, hundreds of different coins, anonymous trading, and good security tools. However, it also had several drawbacks, including a lack of information about the company, poor customer support, high withdrawal fees, and low trading volumes. While CoinExchange was a well-known platform, there are now more reliable exchanges available, such as Binance, Coinbase, and Kraken.

CoinExchange's trading fees

CoinEx offers a range of fees for its users, depending on their status and the type of transaction. The CoinEx trading fee rate varies by different VIP Levels and Market Making Levels. VIP levels are based on any one of the conditions being met: CET balance, total asset value, 30-day spot trading volume, or 30-day futures trading volume. On the other hand, market maker levels are determined by varying trading volumes, with main and sub-accounts combined for calculation.

CoinEx does not charge any fees for deposits of cryptocurrency. However, there may be network fees when transferring cryptocurrency from a personal wallet to a CoinEx account. CoinEx withdrawal fees are dynamic and charged according to the current network conditions. The fee amount is based on an estimate of the network transaction fees and can fluctuate without notice due to factors such as network congestion.

CoinEx also offers a maker-taker model for fees, where maker fees are paid when adding liquidity to the order book by placing a limit order below the ticker price for buy, and above the ticker price for sell. Taker fees, on the other hand, are paid when removing liquidity by placing any order that is executed against an order on the order book. The maker-taker fee for CoinEx is 0.2% for both.

CoinEx also offers a negative rate for spot transactions that meet the requirement, where the trading fee is calculated at 0%, and the rebate is settled in USDT on the following day.

CoinExchange's withdrawal fees

CoinExchange is a crypto-to-crypto trading platform, meaning it does not deal with real-world currencies such as USD, GBP, or EUR. The platform is purely for depositing, trading, and withdrawing cryptocurrencies.

CoinExchange is known for its relatively low trading fees, charging a flat rate of 0.15% for buying and selling coins. However, its withdrawal fees have been reported to be quite high. The respective withdrawal fees for each token are displayed on their website. For example, withdrawing BTC will cost 0.0005 BTC, while withdrawing ETH or LTC will cost 0.01 ETH or LTC.

The platform does not require account verification, allowing users to start trading quickly and anonymously. It also offers enhanced security through a two-factor authentication system, which is common among other cryptocurrency exchanges.

While CoinExchange offers an impressive range of hundreds of different cryptocurrencies and relatively low trading fees, there are some concerns about the platform. There is very little information available about the exchange, including its location, establishment date, and headquarters. Additionally, users have reported negative experiences, including delayed withdrawals and downtime.

Overall, while CoinExchange may be suitable for those looking to trade small amounts of lesser-known coins, it is not recommended for those trading large amounts due to its anonymity and lack of transparency.

CoinExchange's verification process

CoinExchange is a purely crypto-to-crypto trading platform, meaning new cryptocurrency investors may encounter some problems when starting out on this platform. Users can deposit existing cryptocurrencies into their account for no fee, which is advantageous. However, it is not necessarily friendly towards new investors.

CoinExchange does, however, make use of a two-factor authentication system for enhanced security. A code will be sent to users' mobile phones when they make a request to withdraw funds from their account, preventing a third party from withdrawing funds from a user's wallet.

CoinEx, on the other hand, offers an official verification channel to ensure users are visiting the correct website, email or telegram, and not a fraudulent one. CoinEx also provides information on how to secure accounts, and how to avoid phishing attacks.

CoinExchange's security measures

CoinExchange was a cryptocurrency exchange that is no longer in operation. It closed down in 2019 due to financial issues. While it was active, CoinExchange had a two-factor authentication system for enhanced security. This meant that users would receive a code on their mobile phones when they requested to withdraw funds, preventing third-party withdrawals.

However, there was very little information available about the exchange, such as its location, headquarters, and ownership. This, combined with negative user reviews, meant that the platform did not appear completely trustworthy.

In terms of security, CoinExchange also had a verification process that allowed users to start trading without ID verification. This meant that users could trade anonymously, but it also raised concerns about accountability if anything went wrong.

Overall, while CoinExchange did have some security measures in place, such as two-factor authentication, the lack of information and negative reviews meant that users were advised to be careful when trading on this platform.

CoinExchange's customer support

CoinExchange is a third-party cryptocurrency exchange that specialises in alt-coins. It is a crypto-to-crypto platform, meaning it does not deal with real-world currencies such as USD, GBP, or EUR. Instead, users deposit and withdraw cryptocurrencies only.

CoinExchange has been flagged as inactive since October 2019, when it closed due to financial issues. However, when it was operational, it was known for its relatively low trading fees of 0.15% for both buying and selling coins. This is lower than the industry average of 0.25%. However, its withdrawal fees were reported to be quite high.

Regarding customer support, CoinExchange has been described as having "unhelpful customer support" and "poor customer support". There is no live chat or phone support, and users can only get help by submitting an online ticket. The help section is also quite limited.

CoinExchange did not require users to verify their identity, allowing for anonymous trading. Users only needed to confirm their email address to start trading. This lack of identity verification, combined with the fact that there is very little information about the company, has raised concerns about trustworthiness and accountability.

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