CoinEx: Comprehensive Review 2022 – Fees, Pros, and Cons

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Blockchain technology’s promising nature and offerings have fueled the extensive popularity of cryptos. As a result, almost everyone now wants to get into the crypto hype and capitalize on this opportunity.  One such prominent name among those crypto exchanges is CoinEx! The platform has done an extensive job at bringing out the best features and functionalities for users of every type. However, while the platform has some outstanding features, it still lacks particular regulatory concerns.  Continue reading as we explore and walk you through a detailed review of CoinEx to help you understand the nuances of this platform. At the end of this review, you’ll be at a better chance to determine if CoinEx is the right platform for you to get started with crypto trading. 

Pros and Cons CoinEx

Pros

  • Amazing Features
  • Massive Crypto Selection
  • Pocket-Friendly Trading Fees
  • Convenient mobile application
  • Unmatched customer support

Cons

  • Limited options to earn interest off funds
  • Optional KYC Verification

CoinEx At A Glance

Official Website  https://www.coinex.com/ 
Headquarters  Hong Kong
Founded in  2017
Native token CoinEx Token (CET) 
Number of listed cryptocurrencies  500+
Trading pairs  400+
Supported fiat currencies  USD, EUR, GBP, and more
Minimum deposit NA
Trading fees 0.2%
Withdrawal fees Variable 
Customer support  Yes

CoinEx: Overview

Having started its journey from Hong Kong, CoinEx has come a long way since its inception in 2017. CoinEx is a crypto exchange platform that allows you to buy and sell cryptocurrencies. In addition, the platform comes well-equipped with a wide range of features and functionalities that help you reap the full potential of Blockchain technology.  No matter if you are an advanced crypto trader or someone just getting started with cryptos, CoinEx has something for everyone. The exchange provides you with a wide range of crypto tokens, coins, and other digital assets. In addition, CoinEx has an extensive range of currency pairs and digital assets, making this platform an enticing option.  Many users have, time and again, the amazing user interface of CoinEx that allows one to trade in cryptocurrencies with no hassle whatsoever. Besides, the best part is that you can access the platform from desktops and mobile applications available for Android and iOS devices.  Signing up with CoinEx is as easy as it gets, and you can start crypto trading on the platform in just a few minutes. Additionally, unmatched security features are another defining aspect of CoinEx that sets it apart from most other crypto exchanges available in the market. In a nutshell, CoinEx is an amazing platform to help you get started with cryptos and work your way up with time.  coinex

Cryptocurrencies Supported On CoinEx?

CoinEx is one of those few crypto exchanges that provides its users with a wide range of cryptocurrencies. The platform offers 500+ different coins that one can trade, invest in, or purchase, which is relatively high compared to most other crypto exchanges.  Following are some of the leading cryptos and trading pairs you can find on CoinEx. However, remember that these cryptos are not all that CoinEx has but just a few of the common ones to help you get a better idea. So let’s check out these cryptos and trading pairs.  [wpdatatable id=21] Besides, the platform is also open to the idea of accepting new projects with the potential to boom in the future. Such features make this platform an excellent source for traders and investors who want to diversify their folios and invest in upcoming ventures without registering with a new platform.  

Key Features of CoinEx

CoinEx has numerous qualities that make this platform one of the best crypto trading platforms. This platform’s distinct features and functionalities are curated to cater to the interest of users and traders. So continue reading and explore some of the critical features of CoinEx. 

 

Usability And Design

There are many crypto exchanges currently available in the market. However, most of these exchanges fail to provide users with a navigable interface. As a result, traders face many challenges with crypto trading, further hampering their overall experience. Fortunately, that is not a matter of concern with CoinEx.  CoinEx provides traders with an easy-to-use user interface with designs that cater to the needs and requirements of traders. The platform makes sure that it provides users with all the necessary information instead of overwhelming them with too many numbers. The landing page of CoinEx will show you all the coins based on their performance in the market.  As a result, traders can enjoy a clutter-free trading experience on a platform that best understands their preferences. This makes it much simpler to trade your cryptos on CoinEx with no hassle whatsoever. 

CoinEx Mobile Application

Gone are the days when one had to sit in front of a desktop to trade cryptos or other assets. Nowadays, people barely use desktops to access the internet, as most people now have smartphones. These smartphones are packed with incredible computing power to help one do almost everything through their phones.  Consequently, most crypto users now want to access and trade their digital assets through their smartphones. Keeping that in mind, CoinEx also provides users with a user-friendly mobile application. The application is available for Android and iOS devices, allowing everyone seamless access to CoinEx.  The mobile application is designed to help traders access all the features they would access through the platform’s desktop version. Thus, users can now trade their cryptos and other digital assets even on the go. This ensures they never miss out on any trading opportunity, no matter where they are.  

CoinEx Affiliate Programs

Almost every crypto exchange currently provides its users with affiliate programs to attract more users and increase their market presence. Even CoinEx has an appealing referral or affiliate program to help you earn rewards for inviting new users to the platform. However, CoinEx’s affiliate programs are different from what you see in most other crypto exchanges.  CoinEx’s affiliate programs are only available for CoinEx Ambassadors. But these ambassadors are different from your conventional market makers. One cannot obtain the status of a CoinEx ambassador automatically. Instead, they will need to apply with the agents of the platform, who will approve it if all requirements are met.  You can get many privileges as a CoinEx Ambassador regarding referral bonuses. Every new user with the referral link of Ambassadors brings profit for the ambassador. This profit comes in the form of a percentage of the transaction fees. For instance, a transaction of up to $500,000 means 40% of your fees will be paid. This percentage will further increase as the transaction value increases. 

 

ViaWallet

Trading your cryptocurrencies is one thing and storing them safely and securely is another. Therefore, ensuring a safe store of crypto assets is the top priority for any crypto trader. However, this is not easy with the rising number of crypto frauds and scams. Thus, CoinEx developed its own safe and secure wallet called the ViaWallet. This is a multi-currency digital wallet with built-in adherence to the highest security standards and a user-friendly interface. As a result, traders get access to a performant in-built wallet with CoinEx. You can even access ViaWallet through your mobile devices and ensure the safe storage of digital assets even when on the go. Therefore, feel free to start your crypto trading with CoinEx. 

Additional Features of CoinEx

The huge number of offerings of CoinEx does not just end with ViaWallet. The platform offers many other features to enhance your crypto-trading experience. So let's check out some of these features. 

  1. Low Fees: Trading fees have long been a barrier for people looking to get started with crypto trading. But this should not be an issue with CoinEx, as the platform offers some of the most competitive fee rates. Additionally, you can avail of more discounts if you use CoinEx's native token, CET.
  2. Wide Range of Coin Selections: CoinEx has some of the most extensive ranges of cryptos on its platform. According to its website, the platform now supports over 580 cryptos. Thus, one thing is for certain you will never run out of cryptos to trade on the platform.
  3. Unmatched Security: Another great thing about trading your cryptos with CoinEx is security. The platform understands the security threats posed in this digital environment and takes necessary measures to counter them. CoinEx requires every user to leverage the two-factor authentication via phone or email. This ensures your crypto assets remain safe and secure at all times.
  4. Help Center: CoinEx helps many beginners to get started with their crypto journeys. As a result, you will find support pages on the platform that will help you guide you through the nuances of the crypto world. However, if that does not resolve your query, you always have the option to reach CoinEx directly.
  5. Servicing the Global Market: Unlike many other crypto exchanges in the market, CoinEx does not limit its reach based on the boundaries of countries. The platform is currently serving users from across 200 different countries. They also provide multilingual support for crypto users from all over the world. 

Trading Experience 

Basic Trading With CoinEx

The basic trading account under CoinEx introduces beginner investors to the basics of crypto trading and investments. Initially, all the users sign up with a basic account and have access to the universal tool across the crypto exchange. Then, you can get started with your trading using the seamless console, charts, and tools. 

Advanced Trading With CoinEx Key

The CoinEx Key is an advanced, more custom approach to trading for users who have access to over 30 BTC tokens. Therefore, any user holding such an amount of Bitcoin can reach out to the KA manager directly and avail themselves of the advanced feature.  This version of trading gets you zero fees, numerous account privileges (adjusted at the end of a financial year), and an exclusive channel for funding and withdrawal, among other similar functions.  

Fee Structure of CoinEx

CoinEx charges relatively lower trading fees than the most prominently available crypto exchanges. Besides, the deposit and withdrawal fees are more or less in line with the fee structure of other exchanges. So let’s check out the breakdown of this fee structure and better understand them.

Trading Fees in CoinEx

CoinEx offers spot trading services for which it charges a taker or maker fee of 0.2%. However, the platform does offer discounts on these charges based on two different criteria that follow: 

  • VIP Status: CoinEx is one of those few crypto trading platforms that offer VIP statuses to its traders. There are five different VIP levels, and you can enhance your status by either increasing your trading volumes or holding the CET token. 
  • Paying With CET Token: Every trader who uses CoinEx's native token CET to pay the trading fees can avail of a 20% reduction on the fees. 

Let’s better understand your benefits with your respective VIP status on CoinEx. 

VIP Status General Fee Discounted  Fee With CET Payments
VIP status 0 0.200% 0.160%
VIP status 1 0.180% 0.144%
VIP status 2 0.160% 0.128%
VIP status 3 0.140% 0.112%
VIP status 4 0.120% 0.096%
VIP status 5 0.100% 0.080%

 

Deposit Fees in CoinEx

When it comes to the deposit fees of CoinEx, one can barely complain about what the platform has to offer. Making deposits using cryptos means users need not pay any fees. However, making fiat deposits using bank transfers can cost you a nominal fee. The platform only allows traders to make deposits with third-party platforms.  Consequently, different third-party platforms have different fee structures. Nonetheless, let's take an example for the sake of understanding. For instance, suppose you use Simplex to buy cryptos on CoinEx. Simplex is one of the third-party processors in CoinEx, which requires you to make a minimum deposit of $200.  So if you spent $200 via Simplex, you would get cryptos worth $184. This means $7 is the fee, and the remaining $9 is the hidden fee within the spreads. The deposit charges are more or less similar to most other third-party payment processors. 

Withdrawal Fees In CoinEx

The withdrawal fees in CoinEx can vary based on the type of crypto you are withdrawing. In most cases, these fees are either similar to or even lower than the withdrawal fees charged by most other crypto exchanges. Additionally, traders cannot withdraw fiat currencies through the platform. 

Cryptocurrency Fee 
Solana (SOL)  0.00001 SOL
Bitcoin (BTC)  0.0001 BTC
Shina Inu (SHIB) 790000 SHIB
Ethereum (ETH) 0.0033 ETH
Dogecoin (DOGE) 3 DOGE
Cardano (ADA)  0.5 ADA

      

How Secure Is CoinEx?

Security is a major concern for most crypto exchanges, and CoinEx is no exception. Thus, the platform takes many measures to ensure its traders' safety and digital assets. So let's check out some of these measures and understand their effectiveness. 

  1. Two-Factor Authentication (2FA): CoinEx provides its traders with the 2FA mechanism that acts as a second wall of security for their accounts. Traders need to enable this 2FA mechanism upon which they will receive a code every time they log in or make any changes to the account.
  2. Multiple Confirmations For Withdrawals: CoinEx also ensures secure withdrawal for its traders. Every time you make a withdrawal through the platform, you will need to make a reconfirmation through email. This will prevent any unauthorized withdrawal of funds and further loss of digital assets.
  3. IP Address Change: In case your IP address frequently changes in a short period, CoinEx will notify you about the same. This measure is crucial to prevent hackers and fraudsters from accessing the account. You will receive the notification through SMS or email.
  4. Notifications on Signing In: CoinEx takes security very seriously, so it notifies the trader every time they log in to their account. The notification will have every detail about the sign-in, including time, IP address, and address. Apart from that, traders can even access their sign-in history to view the records of the preceding 30 days.             
  5. Disable Account: The other great thing about using CoinEx is the ability to freeze your account for security reasons. You can simply click on the Disable Account tab, and the account seizes from exiting almost immediately. As a result, all your transactions will be suspended with immediate effect. 

How To Open an Account On CoinEx?

Opening an account or signing up with CoinEx could not get any simpler. Additionally, the platform comes with an easily navigable interface that makes this process even easier. With just a few steps, you can start trading your cryptos in no time.    Step 1: Creating an account on CoinEx is easy. All you need to do is click on "Sign Up."  Step 2: Enter all necessary details and credentials  Step 3: Click on Create Account Step 4: Verify your account from the email Step 5: Verify your identification along with an address proof Step 6: Make a deposit using any of your preferred ways. Step 7: Buy the cryptocurrency of your choice and get started with trading in no time. 

Customer Satisfaction With CoinEx

Customer satisfaction has never been a concern for CoinEx because the platform is designed with customer satisfaction in mind. The first thing that wins over customers is the easy-to-use user interface of CoinEx. This interface makes it easier to use the platform and trade cryptos.  Apart from that, the fact that CoinEx offers many discounts to its traders also aids in enhancing overall customer satisfaction. The most notable is the 20% discounts you get when making CET deposit payments. In addition, the VIP status mechanism also motivates traders to gain more interest in crypto trading.  However, the platform could enhance customer satisfaction by extending its Ambassador benefits to beginners. Further, adding ways to help users generate a passive income through CoinEx can be very helpful for traders. Nonetheless, the overall offerings of the platform are not far behind when it comes to ensuring better customer satisfaction. 

 

CoinEx Vs. Competitors 

CoinEx is one of the leading crypto exchanges in the market. However, many such exchanges still strive to enhance their offering and cement their names on the leaderboard. Thus, as a trader, you must evaluate your offerings and then make an informed decision. So let’s check if Kraken, one of CoinEx’s leading competitors, stands a chance. 

CoinEx Vs. Kraken

Like CoinEx, Kraken is also one of the leading crypto exchanges that have earned quite a reputation. Of course, there are many similarities between CoinEx and Kraken, but there are also some noteworthy differences. So let’s check them out.   

Criteria CoinEx Kraken
Supported Cryptos 500+ 110+
Founding Year 2017 2011
Derivative  Yes Yes
Maker Fee  0.2% 0.16%
Taker Fee 0.2% 0.26%
Withdrawal Fee Depending on the type of crypto Variable
Educational Resources Yes Yes 
Access To US Residents  Yes  Yes
Deposits in USD Through third-party processors  Yes
Safety Effective Effective

   As you can see, both crypto trading platforms have many similarities and differences. For instance, while CoinEx supports over 500 cryptos, Kraken only supports 110 cryptos. But, on the other hand, there are similarities, like both platforms offer derivative trading. Therefore, the best thing to do here is to evaluate your specific requirements and make your decisions accordingly. 

Final Verdict 

Given all that you have read about CoinEx, chances are you are much impressed by its offerings. But hold your horses because everything is not well and jolly with CoinEx just yet. Like most other crypto exchanges, CoinEx has weak and strong points. So continue reading to understand them. 

Should You Consider Using CoinEx?

  1. Amazing Features: CoinEx has some of the most advanced features and functionalities compared to most other crypto exchanges. The platform offers you spot trading along with the capability to trade in futures and derivatives. Apart from that, you also get access to features that help enhance your crypto trading experience.
  2. Massive Crypto Selection: CoinEx offers its users one of the largest selections of cryptos. The platform supports over 500 cryptos and an extensive list of trading pairs with over 400 pairs. Thus, traders will never fall short of trading possibilities with CoinEx.
  3. Pocket-Friendly Trading Fees: CoinEx is one of those crypto exchanges that charge very low trading fees from its traders. The platform charges just 0.2% as trading fees which is as reasonable as it gets. Besides, there are also ways you can reduce this fee with further discounts. 

Shortcomings of CoinEx

  1. Interest-Earning Options are Limited: Most crypto exchanges these days offer users a wide number of ways to earn interest. While CoinEx allows you to earn interest on a couple of assets, adding more could be great for traders. After all, everybody appreciates passive income.
  2. Optional KYC Verification: KYC verification is an essential aspect that can affect the platform’s security. Unfortunately, CoinEx does not mandate KYC verification for most of its users. While the platform has its reasons for not mandating KYC verification, people could use this for fraudulent activities.  

As you can see, CoinEx has both strong points and shortcomings that make the platform what it is. Thus, a trader must evaluate all that before you start crypto trading with CoinEx. But two shortcomings aside, CoinEx is certainly a crypto trading platform you can trust and trade your crypto assets securely.   However, signing up for a crypto exchange is more than just being thorough about the functionalities and features of the platform. Therefore, if you’re one of those investors who like to trade with advanced tools and don’t want to sign up with new crypto platforms to trade in upcoming projects, CoinEx is the platform for you. But, if you want to explore other options, we suggest you do thorough research for the same.  

FAQs

 Does CoinEx store its cryptos in Cold Storage?

A - Cold storages are the most effective ways to keep your digital assets away from the reach of hackers. While CoinEx stores its assets in cold storage, the platform has yet to disclose the percentage of assets it stores in cold storage.

 Has CoinEx ever been hacked?

A - There is an entire list of crypto trading platforms that have succumbed to the fraudulent capabilities of hackers. But fortunately, CoinEx is not one of them, as the platform has never really been hacked. One can give credit to the amazing security features of the platform.

 Does CoinEx have its native token?

A - Similar to most other crypto exchanges available in the market, even CoinEx has its native token. The token is called CET or CoinEx Token and is based on the ERC-20 token protocol. Traders can use this token to avail of many discounts from the platform.

 Is CoinEx safe?

A - CoinEx has come a long way since its launch, and this would not have been possible if it had failed to ensure the safety of its users. CoinEx has some of the most effective and practical security features that make it one of the most secure platforms in the market. Thus you can start with crypto investments on CoinEx without any fear.

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