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Understanding CoinEx exchange and its features

CoinEx is a professional global exchange based in Hong Kong and is known as a reliable platform for both newcomers and veteran crypto traders. This is thanks to several features that the site offers such as impenetrable security, affordable fees, an impressive trade matching system and more. 

If you’re eager to learn more about this, here’s everything you need to know about CoinEx exchange: 

History of CoinEx

CoinEx is a centralized exchange developed by a group consisting of world-class internet and finance companies in Hong Kong. The exchange’s team members are also some of the first individuals who adopted cryptocurrency equipped with knowledge and experience on how the crypto sphere works. 

CoinEx aims to provide traders with an exchange that offers world-class security and an excellent user experience to cater to different kinds of users. It also does its trades under the ViaBTC Group and has now amassed over 2 million customers.

Fast forward to today, CoinEx is now available worldwide with its supported countries including Sweden, the United Kingdom, USA and more.

Important features of CoinEx

CoinEx exchange proposes several features that give them an edge over other trading platforms in the market. They help traders experience more convenience with their transactions and generally make their lives easier. 

These features also help draw in users from around the globe to use their site and have been proven effective as evidenced by how many traders are currently using it. Here are some of the most important features of CoinEx that you need to know:

Affordable fees

One of the biggest advantages of using CoinEx exchange is its relatively low fees and free of charge deposits. However, do keep in mind that the site requires a minimum amount before you can process transactions. On the other hand, it doesn’t have a maximum cap for deposits.

As for the market’s trading fees, it’s a little under the global industry average, sitting at only 0.15% for takers. On the other hand, makers are given a discount of 0.05% where they can trade for only 0.10%.

High-speed transactions

Another highlight this site emphasizes is its high-speed system that can process a whopping amount of 10,000 transactions per second. This benefits the users because it allows them to deposit, withdraw and trade their assets in minutes which reduces the waiting time that they would usually experience with other sites.

Wide variety of supported altcoins

The cryptocurrency has more tokens than just Bitcoins. With CoinEx exchange, people won’t have to worry about not being able to find a coin that they can use to deposit into their accounts because the site supports various altcoins.

Aside from Bitcoin (BTC), here are some of the altcoins that this trading platform supports:

  • Ethereum (ETH)
  • Ripple (XRP)
  • Bitcoin Cash (BCH)
  • Tether (USDT)
  • Tron (TRX)
  • Monero (XMR)
  • EOS
  • IOTA.

User-first help centre

To help newcomers create a smooth transition over to CoinEx, the exchange site follows a user-first approach. This is evident in their professional customer service that offers strong community connections to help users with their inquiries.

Additionally, the site also provides its customers with a built-in support page that contains in-depth answers to inquiries that they may have regarding CoinEx.

User friendly

Seamless site navigation is an important user feature you should consider when choosing an exchange site. With CoinEx, this feature is evident right from the start with its registering process.

New users won’t have a hard time creating their accounts and start trading right away because the site has an easy signup process. Know your Customer (KYC) is optional, meaning that all the user has to do is input their email address and password.

CoinExchange is being used worldwide which is why it features a variety of languages. This makes it more accessible for people living in other countries to navigate the site and make trades more smoothly.

State-of-the-art security

Although the site doesn’t force its users to go through KYC which helps verify the user’s identity, the site remains to be secure thanks to its use of various security measures. One of these measures is two-factor authentication or 2FA, which is highly recommended as it can help protect the user’s funds.

Moreover, the site also opts for cold wallet storage which stores your cryptocurrencies offline and away from cyber attacks and hackers. With cold wallets, the system gives the user private keys that are in an offline environment to ensure that only they can access their digital assets.

What is CET?

In 2018, CoinEx introduced CoinEx Token or CET which they claim to be a ‘Value-Added Services Privileges Scheme’ according to their website. This token is the local coin of the exchange and its main use is to serve as gas which are trading fees that are automatically deducted from the user’s account. Additionally, it also maintains the exchange site’s ecosystem.

However, aside from serving as gas, CoinEx have other uses and values for the users of the site which includes:

Exclusive privileges

Holders of CET are eligible to join promotional campaigns held by CoinEx itself. Some of the programs that the platform has already done in the past until today include:

  • Referral programs
  • Accelerator support for upcoming projects
  • Airdrop incentives.

VIP services

CoinEx also has a dedicated VIP membership where only users with a certain amount of CET can join. In this prized membership, users can avail of privileges such as exclusive customer service, withdrawal acceleration, fees discount and more. 

Should you use CoinEx?

With an impressive number of features including a variety of supported altcoins, world-class security, a user-friendly interface and more, CoinEx proves to be a reliable exchange in today’s industry. Although it does have some minor cons that may bother some users such as the lack of fiat currency support, its advantages make up for it.

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