Explanation of the CoinEx platform - cryptocurrency trading
What is the CoinEX platform?
CoinEx is a global cryptocurrency exchange launched in 2017 and headquartered in Hong Kong, China. The platform offers a wide range of currencies at a low cost and has a high trading volume, which solves the problem of liquidity. CoinEx has over 260,000 monthly visitors to their website and over three hundred active marketplaces.
After launching the company in China a few years ago, it was later registered in the UK. CoinEx is the cryptocurrency exchange arm of Chinese mining company ViaBTC. So far, the exchange has succeeded in creating a smooth and reliable operating environment for its clients with the support of its excellent staff.
Although the exchange is new, it has gradually risen to become one of the leading exchanges in the world. Based on our judgment of the company and other reviews, it has built an excellent track record in the few years that it has been around. CoinEx is designed for both beginners and advanced users because of its smooth execution processes, low cost, and convenient trading platform.
CoinEx supported countries
CoinEx does not place any geographic restrictions on any region or country. So the company accepts customers from all over the world and also provides multilingual support.
CoinEx supported languages
CoinEx currently supports multiple languages such as Chinese, English, Japanese, Korean, Russian, and Arabic. It provides global business services in more than 100 countries/regions.
Supported digital currencies
Like many other cryptocurrency exchanges, CoinEx allows users to deposit, withdraw or trade on the platform in digital currencies. Bitcoin accounts for more than 12% of the trading volume on the platform. It also supports many cryptocurrencies with a fairly huge market for them.
The largest altcoin markets are Ethereum, Litecoin, and Bitcoin Cash, with many other pairs to trade similarly. In total, you can trade more than 180 currencies on the platform.
In January 2018, the exchange also issued a local token, CoinEX Token (CET). The token runs on the COinEx network, a public network launched in 2019. Apart from the value of the coin, CET can be placed on the CoinEx network, and the token holders can also get discounts on trading fees.
CET Token is a value-added service and privilege plan based on the CoinEx system. It also acts as a gas in the CoinEX network and is compatible with the ERC-20 protocols. CET can also be used as a transaction fee for both spot and margin trading on the platform, provided you have enough tokens.
What is CoinEx Token (CET)?
CoinEx Token (CET) was released in January 2018, and is a system-based value-added service and privilege scheme for CoinEx's business. CET is issued according to the Ethereum ERC 20 protocol and launched on the CoinEx public network (coinex.org）.
How do you get CET?
Referral Bonuses: Refer your friends to register and trade and you will get CET as rewards.
Buy CET: Go to the trading page and buy CET with BCH / BTC / USDT etc.
CET Promotion: CoinEx will hold promotions and distribute CET from time to time.
CET Privileges
Deducted as Trading Fee: CET can be deducted directly at the same market value as the trading fee in the allocated deductions.
VIP services and privileges: Users with a certain amount of CET can obtain VIP membership and enjoy privileges such as fee discount, withdrawal acceleration, exclusive customer service, etc.
Promotional Campaign Rights: CET holders can get special qualifications for promotional campaigns on CoinEx such as accelerator incentives, support, etc.
Pre-installed token on the CoinEx network: CET is used as a pre-installed token on the CoinEx network and acts as a “gas”. It can also be applied to invest in or trade other cryptocurrency/token assets.
Apart from trading within the CoinEx system, CoinEx plans to extend the usage and applications to scenarios such as payments, etc.
Deposits and withdrawals
As we said earlier, CoinEX supports deposits, withdrawals, and trading in cryptocurrencies, not fiat currencies. While the platform has a different fee structure for each currency, the deposit fee is free for all currencies. However, the withdrawal fees charged and minimum deposit/withdrawals depend on the type of currency and the type of mainnet.
For example, the minimum CET deposit/withdrawal on “CoinEX Chain mainnet” is 1 CET, while for “ERC20” it is 2400 CET. However, before making any transaction, we advise you to visit the CoinEx platform to check the requirements before proceeding.
The company makes sure that all assets are fully held in reserve and are always available to the owners when needed. This allows for quick withdrawal and transfer of assets on the platform. The platform also has several mining pools that accelerate transactions to ensure fast processing of deposits and withdrawals.
In addition, when submitting a withdrawal request, you will be asked to re-confirm the withdrawal on your email before it is automatically processed. This protects users from losing their funds due to withdrawal errors.
Payment methods on the CoinEx platform
CoinEx only supports digital currency transactions, so you cannot use payment methods such as SEPA, bank transfer, or debit/credit card. Payments are made either in CET or other digital currencies.
This means that to use the platform you have to use CET as a fee, the holders of which will also enjoy reduced transaction fees. Token holders will also benefit from perks such as fast withdrawals and exclusive customer support.
Although CoinEx does not directly support fiat currencies, it partners with several payment platforms, including Visa, Mercuryo, and MoonPay. However for large cryptocurrency transactions, you will have to contact CoinEx OTC Matrixport payment partner.
You can email the payment partner to access their service. In order to be able to access this service, you must have completed the verification of your account. However, Matrixport does not support about 32 countries due to legal restrictions. You can check on the CoinEx website to see if your country is supported.
How to register on the CoinEx platform
Creating an account on CoinEx is very simple and can be completed within a minute or two. Since it did not put any geographical restrictions, anyone can create an account on CoinEx just by providing an email address. In case users forget their password, it can be easily reset by entering the verification code received on their email after clicking on the “Forgot Password” link provided on the login page.
To create an account on CoinEx, do the following:
Go to their site and click on the “Sign Up” link at the top right of the page.
Enter your email address and password and click the “Get Code” button.
Within a few minutes you should receive an authentication code via email from the CoinEx team. Enter this code in the “Email Verification Code” field and click on the “Register” button after agreeing to the terms to finish creating your account.
our end! You have successfully created your CoinEx account.
CoinEx Fee
The inexpensive fees on the CoinEx exchange are one of the many draws of the platform. Like other exchanges, CoinEX has its own fee structure. CET holders can enjoy up to 50% discount on transaction fees.
However the fee structure to be explained is for spot trading and is very different from the permanent transaction fee.
The transaction fees paid on the platform vary and depend on the VIP level and market industry level. Firstly CoinEx offers different VIP membership levels, which feature various transaction fees depending on the CET held. Also, market makers and traders pay varying fees depending on their trading volume.
Before we go any further the market makers are those who create buy/sell orders at a certain price and they represent the depth of the market. By contrast, the takers execute an appropriate buy/sell order created by the manufacturers. While makers create depth of market, listeners do the opposite: their transactions reduce market depth.
Note: Level 5 traders who trade above 100,000,000 do not pay maker fees, regardless of whether they hold a CET or not. However 0.05% beneficiary fee is charged but 0.035% when paying with CET. Beneficiary and maker fees for other spot trading tiers fall between the above caps.
How to get a VIP membership on the CoinEX platform?
You can update the VIP level when the CET contract meets the requirements.
Based on the CET contract, the entire VIP level will be updated at 1:00 (UTC) on a daily basis.
VIP fee discount applies in addition to the discount using CET as fee.
After VIP activation, discounts will be automatically calculated and applied to your orders.
CoinEx customer support
The support team is the backbone of the company because workers respond to user complaints — whether through live chat, email, or on their website. In short, they have a direct relationship with customers and act as representatives of the company. A company that takes customers seriously wins their hearts and is often considered the best.
CoinEx has won the hearts of many customers due to the quick response of their support team. Although the platform does not support live chat, they respond quickly to support forms submitted by customers.
It also provides computer chat support, where you can search for cryptocurrency articles or get faster responses to more frequently asked questions. While that doesn't sound like much, it helps when you need help navigating the site or have a question that doesn't require submitting an order form.
However to contact their support team you can access their application form on their website. All you have to do is enter your registered email address, enter the subject, select the type of problem, and enter a description of the problem. CoinEx also supports mobile apps to facilitate a convenient and high-quality trading experience.
The team alerts you via SMS or email as soon as an asset is deposited or withdrawn. The notification is sent to the phone associated with your account to monitor your assets and account activities personally in real time. CoinEx also has a blog where users are informed of available updates regarding the products offered by the company.
The CoinEx support team also provides educational content for users of the platform. Although it does not provide trading advice, it is provided to ensure that account holders have the correct information regarding the world of cryptocurrency. The platform also has an extensive library where they can get quick answers to simple issues and a short guide on navigating the site.
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