What is Coineal Exchange? Instructions to join the exchange
- 1. What is Coineal exchange?
- 2. Features of Coineal exchange
- 2.1 Advantages
- 2.2 Cons
- 3. What are the outstanding features of Coineal exchange?
- 4. The ecosystem of Coineal exchange
- 5. Instructions for registering an account on Coineal exchange
- 5.1 Register by phone number
- 5.2 Register by email
- 6. Ways to secure accounts on Coineal
- 6.1 2 layer account security (2FA)
- 6.2 Identity Verification - Basic KYC
- 6.3 Phone number verification
- 7. Instructions for depositing and withdrawing money at Coineal exchange
- 7.1 Deposit method
- 7.2 Withdrawal Method
- 8. Some limitations of the Coineal exchange Along
- 9. What is the transaction fee of Coineal exchange?
- 10. Should you trust the Coineal exchange?
What is Coineal exchange? While the investment wave is becoming stronger and stronger, the market develops with the appearance of exchanges, is this the right investment choice for you? Why do many investors choose to participate in Coineal exchange? The following article of BHO Network will provide some information that players need. Let's find out the details together!
1. What is Coineal exchange?
Coineal or CEX is an exchange developed in Korea and launched in 2018. Woo Jong Ho heads the company. Coineal is a place that provides Cryptocurrency trading services. Currently, Coineal has been present in many countries and other regions around the world. On the exchange's system, there are many languages English, Japanese, Korean, Russian, ... for customers to use easily.. The following is information about Coineal:
- Token: Coineal.
- Form: Cryptocurrency exchange.
- Year of establishment: 2018.
- Website: http://www.coineal.com/
2. Features of Coineal exchange
Players have learned about “what is Coineal”, so should you expand your investment channel by participating or not? Is Coineal a safe place to join? Before investors make a decision, BHO Network would like to mention some of the pros and cons of this exchange as follows:
Although just launched 4 years ago, Coineal already has some of the most achievements determined. What is the strength of NEAL Token? Here are the highlights that Coineal has achieved during the past process that BHO Network has compiled for readers' reference:
- Support for more than 38 Coins & Tokens and more than 86 trading pairs: Top Coins on the current market are tradable on Coineal.
- Multi-language support: Multi-language ceramic language system: English, Japanese, Korean, Russian, Vietnamese,... have all been updated.
- Relatively broad ecosystem: In addition to CEX, Coineal also builds features such as: Launch Pool, Crypto Loan.
Besides advantages, Coineal still needs to be improved a lot in the future. It would help if you made an objective assessment of any information flow. This is to ensure the safety of personal assets, followed by some disadvantages of the exchange:
- Coineal liquidity is relatively low and has Fake Volume phenomenon: Total trading volume in the past 24 hours is only about $130M and low trustcore from Coinecko (a sign of Faker volume).
- The number of Coins & Tokens that are supported is tiny: Currently, Coineal exchange only supports 36 coins and 86 trading pairs, most of which are top Coins. Top 100 altcoins are barely available on Coineal.
See more: What is CoinEx exchange? Overview of the exchange
3. What are the outstanding features of Coineal exchange?
To understand how the exchange works, you need to know the characteristics of the following features:
- Global operations: Coineal has 2 representative offices in China and Korea. The plan will be expanded to countries such as Singapore, Japan, the United States, Russia, ... Coineal is trying to strengthen its brand and gain market share.
- High level of safety and security: Security is the top priority of every exchange. With accumulated experience, Coineal has built a quality risk management system, using a distributed architecture and anti-DDOS design.
- Private Token Launch: Total NEAL supply will be 542,964,897. When you reach a certain amount, Neal, you can get a discount on the transaction fee according to the rules. In addition, when holding NEAL players can receive dividends after locking NEAL.
- User-friendly interface: You can access it through iOS, Android, on the Web and PC.
- There is a community exchange button: This is one of the unique things about Coineal. Each node will be the place to verify the cryptocurrency transaction. Every month, bonuses will be delivered in NEAL tokens to incentivize the community to be active.
- Support for multiple trading pairs: Since April 2018, Coineal exchange has offered trading pairs such as ETH/BTC, BTC/USDT, ETH/USDT, MT/BTC and MT/ETH.
- There is profit distribution: A part of the profits will be distributed by Coineal to the community for the operation of community nodes and effective exchange management.
4. The ecosystem of Coineal exchange
With 4 years of operation and development in the financial market, Coineal exchange has developed its ecosystem including:
- Coineal CEX: Concentration of Crypto with high liquidity on the market (Top Coin).
- Crypto Loan: Users can collateralize ETH or BTC to borrow USDT, loans with payment terms within 7, 14, 30 and 90 days.
- Coineal Launchpool: Users are allowed to stake any Token to receive other Tokens and 1 Launchpool time is about 3 months.
5. Instructions for registering an account on Coineal exchange
Now players want to try the market on Coineal. However, do you not know how to log in to the system? Is it difficult to open an account? You need to follow the following instructions:
5.1 Register by phone number
Now, BHO Network will detail the steps to set up an account via phone number:
- Step 1: You access the website www.coineal.com/register, then select Vietnamese language for easy operation.
- Step 2: There will be 2 options to register with gmail or phone number. Next, press register with your phone number, select the correct Vietnam country code +84, enter your phone number and press "Send Code".
- Step 3: After receiving the code sent to your phone, enter it in the required box to complete the registration.
- Step 4: After entering the verification code, enter the password. The new code section can be ignored and ticked "I agree" followed by "register". So you already have an account on Coineal.
5.2 Register by email
You register with gmail similar to a phone number. However, this form of account creation has some differences such as:
- Step 1: You also access Coineal's website.
- Step 2: You need to click the box to register by email instead of writing by phone number, click "I agree" and click "Register".
- Step 3: Coineal will send the account verification code to the mailbox. You enter 6 digits in gmail in the box in the verification code section and complete the registration steps.
6. Ways to secure accounts on Coineal
Investors already know what Coineal is, so how does Coineal protect customer accounts? Account security is the act of keeping the personal information and cryptocurrency wallets of all users safe. Therefore, this job you cannot ignore. Here are ways to secure accounts on the trading platform for everyone to refer to:
6.1 2 layer account security (2FA)
After having a Coineal account log in to the system, you access the link https://www.coineal.com/uhome/personal to set up 2FA. Players go to the "Security Settings" section, select "authenticate via Google", press "verify" and enter the password and the "password" box.
In addition, users can download the Authentication application to proceed with generating 2FA keys. After downloading the app, people scan the QR code provided by Coineal. Before going to the next step, save the private key in a notebook or notebook in case you forget or lose your phone. Finally, click “Submit” and done. All users can follow the illustration to visualise it clearly.
6.2 Identity Verification - Basic KYC
To verify basic KYC, go to “security settings”, select “real name verification” and press “validate”. The overview process through the steps is described as shown in the figure. First, you need to fill in the relevant basic information such as country, ID type, last name & first name, ... then select "Next step".
In the next step, you upload the necessary documents including a photo of the front and back of the ID card, a picture of the card held in your hand and a photo with a signature. After the download, the user clicks "send" and completes the procedure. Results of KYC will be notified within 1-2 working days via email.
6.3 Phone number verification
A more convenient way to verify your account is by phone number. Go to "Bind Mobile Phone". Then select +84 as the country code for Vietnam. Next, the player must enter the phone number and press send code. After a few seconds the code will be sent to your phone, enter it and then press “Confirm binding”. So the verification steps are complete.
7. Instructions for depositing and withdrawing money at Coineal exchange
To make more withdrawals and deposits, you need to know the correct information. Below are the detailed deposit and leave instructions for everyone to refer to.
7.1 Deposit method
After logging in to Coineal, please visit: https://www.coineal.com/assets/balance. Here, players choose what Coins or Tokens they want to import into the exchange and proceed to send them to the updated address.
Note: Investors, please confirm the Token protocol (Protocol Type) before converting assets. Otherwise, the user's deposit will disappear and no refund will be processed.
7.2 Withdrawal Method
To withdraw money, you also choose Coin or Token you want to withdraw from the exchange. Next, the user clicks on the “Withdraw” box, adds an address, and clicks “Submit”. Note: Players please confirm the Token address and protocol before taking out the assets, otherwise the money will be lost and no refund will be received.
See more: What is PancakeSwap? Summary of detailed knowledge
8. Some limitations of the Coineal exchange Along
With the benefits BHO Network has just shared above, the Coineal exchange also has many limitations. The weak points of the exchange can be mentioned as follows:
- There is no specific information about the company or the team working behind it.
- Margin trading is not supported.
- Does not support users in transactions with Fiat such as VND, USD.
- The minimum amount to withdraw is relatively high, 0.05 for BTC.
- High withdrawal fee, 0.002 with BTC.
9. What is the transaction fee of Coineal exchange?
When participating in Coineal, investors have to pay withdrawal fees and transaction fees for buying or selling on the exchange. Costs on Coineal exchange will depend on the type of Coin. The transaction fee for buying or selling (Trade Coin) for Maker and Taker is 0.15%.
10. Should you trust the Coineal exchange?
The world's leading exchanges like Binance, Bittrex or Huobi Global are also facing hacker intrusion. These transaction points always have many unpredictable dangers. Therefore, players need to be careful before participating.
However, until now, it can be said that this is still a place in the "safe zone". Investors can feel secure when participating in this community. In addition to some fundamental errors about withdrawing money, not trading or not registering, the problem of word fraud has not appeared. Therefore, you can temporarily consider trying financial investment here.
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The article has gathered what you need to know about the topic of “What is Coineal exchange?”. The necessary information surrounding Coineal is a helpful tool to help you safely participate in cryptocurrency investment. BHO Network hopes, you will be the most intelligent player in the market, wish you success!
Published on April 06, 2022
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