Not every cryptocurrency exchange is popular due to the sheer size of offerings. Some exchanges like CoinEx stand tall thanks to a best-in-class user experience and competitive trading fees. In this detailed CoinEx review, we delve deep into the platform’s extended suite of services, quality of customer support, fee structure, security implementations, and more — helping you make an informed decision about the exchange.
- CoinEx review: Overall assessment
- CoinEx
- What is CoinEx?
- Where is CoinEx available?
- How to sign up for CoinEx in 2024
- Welcome offer/bonus
- Deposit and withdrawal method and limits
- How does CoinEx compare to others?
- Features and tools from CoinEx
- CoinEx security and payment processing
- Customer support
- How did we test CoinEx?
- Regulatory compliance and safety
- Invest responsibly with CoinEx
- Is CoinEx the right trading platform for you?
CoinEx review: Overall assessment
CoinEx
Before you move ahead with the detailed review, here are a few key takeaways that might come in handy:
- Per CoinMarketCap’s data, CoinEx has over 700 coins listed on the platform, including 1124 trading pairs or markets.
- The CoinEx ecosystem extends beyond the exchange. It is part of the ViaBTC group, the entity behind OneSwap DEX, the CoinEx smart chain, and more.
- Despite being ranked 176 per CoinMarketCap’s exchange list, CoinEx is one of the first exchanges to release proof-of-reserves, championing transparency over everything else.
- Both maker and taker activities attract a flat trading fee of 0.2%, which can go as low as 0.16% if paid for in CET or CoinEx’s native tokens.
Our overall assessment of the platform is as follows:
| Criteria | Supported Cryptocurrencies | Supported Fiat Currencies | Fees | Features | User Experience | Customer Support | Security | Our Overall Score |
| Score | 4.5/5 | 4/5 | 4/5 | 5/5 | 4.5/5 | 4/5 | 3.5/5 | 4.3 |
- Some of CoinEx’s strengths include competitive fees, regulatory compliance, and extensive crypto support.
- It is ideal for seasoned traders and not for those residing in the U.S.
- The CoinEx mobile app is easy to use and boasts a host of trading options and resources.
Let us now delve deeper into the CoinEx review.
Did you know? In 2023, CoinEx experienced a cyber attack, or rather a hot wallet hack worth $70 million. However, CoinEx confirmed that only its reserve assets were targeted, and user funds weren’t compromised.
What is CoinEx?
CoinEx is a reputable Hong-Kong-based cryptocurrency exchange ideated and founded by Haipo Yang — an early bitcoin investor. The exchange came to the fore in 2017 and is a part of the ViaBTC group that also handles the ViaBTC mining pool.
Held by a robust company and adhering to the domicile regulations, CoinEx is slowly climbing the popularity charts. The exchange doesn’t only offer standard spot trading services. Instead, you can access smart trading tools, margin trading support with decent leverage, crypto-swapping support, and other features.
Do note that CoinEx isn’t an all-inclusive broker. This means you cannot access services like forex trading, stocks, etc. Instead, users can access crypto assets segregated into specific categories.
Crypto trading on CoinEx
As mentioned, CoinEx offers 700+ cryptocurrencies to trade. Per CoinMarketCap’s spot trading data, the most popular pairs include BTC/USDT, ETH/USDT, SOL/USDT, STARL/USDT, and more. CoinEx also supports perpetual contracts, with BTC, SOL, ETH, and SHIB being the top assets.
On CoinEx, the coins are sequenced according to categories, like GameFi, RWA, layer-2 tokens, top gainers, and more.
A native token in sight
Like Binance, CoinEx has a native coin in CET, which acts as a tradable asset and can be used to get trading fee discounts. You can use CET to pay for gas fees on the CoinEx Smart Chain.
Where is CoinEx available?
CoinEx’s operations are available in 100+ countries. Some of the supported countries include:
- European nations like France, Spain, Germany, the United Kingdom, and more.
- Asian countries like India, Singapore, Japan, South Korea, and more.
- Oceania zones like New Zealand and Australia
- African nations, including Kenya, Nigeria, and South Africa
- South American nations like Chile, Argentina, and Brazil.
It is worth noting that CoinEx extends its services even in Hong Kong, adhering to the regulatory guidelines laid down by the Hong Kong SFC or Securities and Futures Commission. Plus, CoinEx also aligns itself with the AML and Counter-Terrorist Financing standards.
As for restrictions, CoinEx doesn’t offer services to U.S. customers. It also cannot operate in Canada.
How to sign up for CoinEx in 2024
If the list of supported CoinEx countries aligns with your requirements, signing up is the next step to consider. For that, you need to hit the sign-up button first.
Once done, you can register using your email ID, complete a puzzle, and then feed in the verification code sent to your email ID.
Unlike other exchanges with elaborate login steps, CoinEx quickly takes you to the profile page.
CoinEx doesn’t immediately ask for your KYC details, and you can start trading after completing a quick puzzle.
Per CoinEx’s sign-up page, instead of KYC regulations, you must complete the first deposit, make a swap, complete strategy-based trading, initiate spot trading, and then futures trading to complete the entire new-user flow.
To move further with the verification process, you first need to choose between the Personal and Enterprise accounts. Once done, you must bind your mobile number to increase the security of your profile.
After that, you again need to head over to the personal profile section, upload the right ID, and finish the process with face recognition. Once you verify, you become eligible for a higher withdrawal limit.
Do note that you can start trading on CoinEx without verifying KYC. However, with identity verification comes higher deposit and withdrawal limits.
Welcome offer/bonus
As a new user, you can get a bonus worth 159 USDT post sign-up. However, the welcome reward isn’t redeemable at once. Each step of the sign-up flow makes you eligible for rewards — sign-up, deposit, swap, etc.
The final step, involving futures trading, lets you earn a cashback voucher of 100 USDT. However, terms and conditions are associated with redeeming the rewards.
Deposit and withdrawal method and limits
To make the most of any crypto exchange, you should know its deposit and withdrawal standards, including the limits, timeframe, applicable fees, and even the payment methods supported.
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For instance, CoinEx only supports crypto deposits and withdrawals from and to other web3 wallets and addresses. While crypto deposits are free, withdrawals attract a fee, courtesy of the network-specific charges. The withdrawal fees depend on the blockchain you are using to transfer funds.
Each blockchain and asset has a specific deposit and withdrawal limit. For example, if you wish to move USDT across the ERC-20 or Ethereum mainnet, the minimum deposit and withdrawal levels are set to 3.1 USDT. For the TRC-20 mainnet, the minimum deposit and withdrawal limits are 1.3 USDT.
It is worth noting that deposits are only allowed once you have verified your ID. As for the withdrawal limits, you can move around 10,000 USD worth of assets within 24 hours without verifying the ID. This limit moves up to 1,000,000 USD post-ID verification.
Deposits and withdrawals are usually instantaneous, barring a few instances when the mainnet is experiencing congestion.
Payment methods supported by CoinEx
While crypto deposits and withdrawals are supported, CoinEx allows you to purchase cryptocurrencies directly via bank transfers, Apple Pay, Google Pay, E-wallets, and other avenues. In that regard, multiple fiat currencies are supported, including EUR, USD, JPY, KRW, and more.
How does CoinEx compare to others?
Evaluating any exchange feels incomplete unless we compare it against others, especially the bigger names in the arena. As part of this CoinEx review, let us look at the key differences with others:
CoinEx vs. Kraken
Even though both Kraken and CoinEx offer the best possible user experience, the CoinEx user interface gives the impression of a more beginner-friendly exchange. Also, CoinEx offers an edge by supporting over 700 cryptos, compared to Kraken’s collection of 240 assets.
CoinEx vs. Bitfinex
Bitfinex is one of the more reputable exchanges with high trading volumes. However, at 180+ coins, it supports fewer cryptos than CoinEx. And even though both the exchanges have competitive fee structures, CoinEx gives you additional discounts, thanks to the native CET centralized exchange token.
However, all of these ecosystems do not allow you to trade anything else but cryptocurrencies. If you plan on diversifying with forex, crypto CFDs, or commodities, platforms like eToro and Exness might be more suited to your requirements. In the end, it all comes down to your preferences.
Features and tools from CoinEx
While looking at the deposit/withdrawal standards, comparative results, user experience, and other aspects of exchange make sense, nothing beats the feature sets. Let us now delve deep into the sea of offerings:
Crypto swap
On CoinEx, you can swap one crypto for another in a single click. Additionally, under the swapping interfaces, a “trendy swaps” section shows what members at CoinEx have been actively trading.
Extensive trading suite
The CoinEx trading platform lets you spot trade crypto assets courtesy of a detailed interface. But that’s not it. While you can use your own funds to trade assets, CoinEx margin trading also finds a place, offering leverage between three to 10x, depending on the asset you plan to trade.
As for orders, you can be a taker — place direct market orders, or be a maker — courtesy of the limit orders. CoinEx’s trading interface also lets you plan stop-market and stop-limit orders.
Besides an extensive spot market, CoinEx also facilitates futures trading. When it comes to trading derivatives, you can get access to 100x worth of leverage — cross and isolated — for specific crypto pairs. CoinEx leverage trading is one of the prized features of the trading platform.
AMM support
On CoinEx, you can create markets, allowing other users to experience high liquidity and enjoy fee dividends to ramp up your passive earning options. CoinEx supports AMM creation and functionality for a wide range of trading pairs.
Financial account
If you have crypto assets sitting idle in your spot trading account, CoinEx allows you to earn compound interest on the same if you plan on transferring the same to the financial account.
Crypto loans
You can borrow other crypto assets by using your existing holdings as collateral. For instance, if you feel that trading a specific memecoin, say, DOGE, might be rewarding, you can borrow against crypto, using your existing BTC holdings to acquire additional DOGE to trade.
Strategic trading tools
If you are into automated trading, CoinEx provides trading tools like auto-invest and spot grid — features that act like trading bots and help you buy low and sell high or accumulate crypto based on your preferences. At CoinEx, you can create strategies, enact them, and then end them if and when needed.
Mobile app
If you have been using CoinEx web, you would be more than happy to know that you can even get hold of the mobile apps. Termed the CoinEx Pro, the CoinEx mobile app boasts advanced features like access to CoinEx trading tools, amplified user experience, and more.
Besides the mentioned features, CoinEx offers an airdrop station, exciting referral rewards, tons of educational content courtesy of the CoinEx blog, and other traits to keep the traders interested.
CoinEx security and payment processing
CoinEx has several security implementations in place to secure data and user funds. Some of the most crucial ones include:
- Multi-signature storage system, with CoinEx using cold wallets to store user funds.
- Advanced encryption protocols to keep data breaches at bay
- Implementation of two-factor authentication while logging in via the web or the mobile interface
- Fast and secure payment processing via end-to-end encryption
- Regular security audits
However, the low rating (3.5 out of 5) can be attributed to the latest cyber attack experienced by the platform.
“Dear CoinEx community, the recent attack is the biggest challenge we’ve faced since starting CoinEx. We are truly sorry for the inconvenience caused. But my commitment to you all remains as strong as ever. Thank you for everyone’s continued support during this difficult time.”
Haipo Yang, CEO of CoinEx: Twitter
Customer support
Per our tests, CoinEx has a credible customer support setup led by the prompt ticketing system. To access the same, you must head over to the CoinEx help center, submit a request, describe the issue, provide details, and wait.
We raised a ticket for withdrawal delay, which was acknowledged in under 30 minutes and resolved within 2 hours. As part of the resolution, CoinEx highlighted that the delay was due to network congestion.
Besides the ticketing system, CoinEx boasts live chat support with a response time of under 5 minutes. Additionally, CoinEx also offers a detailed FAQ section for quick query resolution, prompt multichannel, and other credible options.
How did we test CoinEx?
Reviewing CoinEx was anything but random. We tested the platform for a number of months, taking a close look at the transaction speeds, buying and selling promptness, quality of market data, and more.
Our testing methodology also involved the following parameters:
- Careful evaluation of the withdrawal times
- Fee transparency and competitiveness
- Quality of support interactions
- Choice of assets on offer
- Trading experience, including platform fluidity and more.
Based on these parameters and several more, we tested and rated CoinEx 4.3 out of 5.
Regulatory compliance and safety
Before we conclude, it is important to know the regulatory posture of CoinEx. Here are the key highlights:
- As mentioned, CoinEx adheres to Hong Kong’s regulatory posture, aligning itself with the recommended regional KYC checks, transaction monitoring standards, and more.
- CoinEx even aligns with the compliance verification standards, including making public records available to the authorities.
All that and more make CoinEx a relatively trustworthy platform.
Invest responsibly with CoinEx
As a trading platform, CoinEx offers a wide range of trading options. Plus, it brings AMM support, loaning services, a 10x spot margin, and more — making trading and investing attractive. However, as a responsible user, you should exhibit caution and restraint as needed. On CoinEx or any other exchange, you should only invest the amount you are comfortable with losing, considering the crypto volatility.
Besides that, CoinEx comes with over 700 crypto assets to choose from, and it is imperative to have a quintessential DYOR plan in place to know more about any asset before diving deep.
Is CoinEx the right trading platform for you?
While there are several trading platforms doing well in the crypto space, the CoinEx review clearly highlights the concerned ecosystem’s strengths and weaknesses. If you are an experienced or rather an intermediate trader trying to amplify profits using futures trading, margin trading, and more, this might be the right exchange to consider. With an easy-to-use and comprehensive mobile app, competitive fees, and a tick in the “regulatory compliance” box, CoinEx’s offerings are evidently strong.
Frequently asked questions
The CoinEx trading platform is primarily used for trading cryptocurrencies. However, the CoinEx trading tools aren’t basic and restricted to the spot markets. Instead, you can deploy CoinEx leverage trading across the derivatives space, CoinEx margin trading across the spot market space, and even generate additional income on your idle crypto assets.
If you plan to use the CoinEx mobile app, it is worth noting that it is relatively safe to work with. The CoinEx user interface brings in biometric support for two-factor authentication and makes way for advanced encryption standards to protect user funds. And the safety measures extend to both Android and iOS mobile apps.
CoinEx, the trading platform, operates under ViaBTC, a group that even handles the ViBTC mining pool. The ViaBTC ecosystem also includes a DEX and other elements. The trading firm came into existence in 2017 and has eventually carved a niche for itself, courtesy of regulatory compliance and innovative feature sets.
CoinEx was ideated and founded by Haipo Yang. Yang is also the acting CEO of the company. He is also the name behind the ViaBTC mining pool. Yang is also an early bitcoin adopter and an ardent investor.
CoinEx doesn’t actually profile copy trading services out of the box. Instead, it offers strategic trading tools, which are synonymous with auto-invest and grid trading bots. Yet, if you look at the general copy trading scene, it is a profitable strategy, provided you only copy the trades of verified and experienced traders.
Yes, CoinEx is a completely legit trading site courtesy of airtight regulatory compliance, a global user base, and transparency concerning trading fees and operations. Plus, CoinEx deposit and withdrawal methods are legit, and the exchange also lets you quickly buy and sell crypto using many payment options.
Even though CoinEx actively operates in 100+ countries, including Brazil, India, South Korea, and more, the firm is based out of Hong Kong. Also, the exchange operates in the U.K. but doesn’t extend its services in the U.S., citing regulatory concerns.
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