What is CoinEx exchange? Overview of the exchange
- 1. What is CoinEx exchange?
- 2. History of formation and development of CoinEx exchange
- 3. Outstanding Features of CoinEx Exchange
- 4. Some limitations of the CoinEx exchange
- 5. Products and services on the CoinEx exchange
- 6. What is the conversion fee model of the CoinEx exchange?
- 7. Types of expenses on CoinEx exchange
- 7.1 Spot
- 7.1.1 For the regular market
- 7.1.2 For the AMM Market
- 7.2 Perpetual Trading Fees
- 7.3 Deposit and Withdrawal Fees
- 7.3.1 Deposit Fee
- 7.3.2 Withdrawal Fees
- 8. Instructions for registering a CoinEx exchange account
- 9. Instructions for account security on the CoinEx exchange
- 9.1 Setting up 2-factor security (2FA)
- 9.1.1 Verify by phone number
- 9.1.2 Verifying with a Google account
- 9.2 Using TOTP Authentication
- 9.3 Basic KYC Identity Verification
- 10. Instructions for depositing and withdrawing money on CoinEx exchange
- 10.1 How to make a deposit
- 10.2 How to withdraw
- 11. Instructions for Trade Coin on CoinEx
- 12. Instructions for using Perpetual on CoinEx
- 13. Instructions for using AMM on CoinEx exchange
- 14. Instructions for placing Stop-Limit orders on CoinEx
- 15. Instructions to buy cryptocurrency in VND on CoinEx exchange via XanPool platform
- 16. Should I use CoinEx and invest in CET Tokens?
What is CoinEx exchange? How does it work and how is the ecosystem? What strengths does this platform have that many people are interested in and participate in the cryptocurrency market? The content she wrote below about BHO Network will help readers better understand a new product of Bitcoin. Follow us now to learn more helpful knowledge!
1. What is CoinEx exchange?
CoinEx exchange is a professional cryptocurrency exchange service provider on worldwide scale. CoinEx was first launched in 2016 with headquarters in Hong Kong. Over the years of construction and development, CoinEx has been developed by an elite team of staff from various fields such as finance, services, Blockchain.
CoinEx has brought users great experiences by owning an exclusive trading system and a friendly interface. CoinEx exchange is considered a safe, stable and highly efficient cryptocurrency exchange with global users. In addition, a total transaction volume of more than 1 billion USD per day proves the system's reliability.
CoinEx Exchange Offers Cryptocurrency Exchange Service
2. History of formation and development of CoinEx exchange
Since its first launch in 2016, after more than 6 years of construction and development, the CoinEx exchange has increasingly asserted its position. The development history of CoinEx to get to its current situation will be shared explicitly by BHO Network below.
CoinEx over 6 years and achieved much success
- May 2016: The first branch in the CoinEx ecosystem was born and developed – ViaBTC Pool.
- October 2016: ViaBTC Pool is in the top 5 in the world in terms of Hashrate.
- April 2017: ViaBTC received a strategic grant from Bitmain.
- May 2017: ViaBTC self-developed the world's first 10,000 TPS matching engine.
- August 2017: CoinEx becomes the initiator to support BCH trading pairs.
- January 2018: CoinEx Launches CET Original Token.
- July 2018: CoinEx is a formidable competitor when it surpasses significant exchanges.
- May 2019: ViaWallet was born and developed.
- September 2019: CoinEx has become one of the wealthiest management platforms globally.
- November 2019: CoinEx Chain established the world's first high-performance dedicated public chain.
- January 2020: CoinEx Launches Global Ambassador Program.
- May 2020: ViaBTC Group was officially born, with an entire ecosystem of mining pools, wallets, exchanges and public chains.
- March 2021: CoinEx implements a worldwide expansion strategy.
- May 2021: CoinEx Smart Chain testnet starts working.
- June 2021: CoinEx Smart Chain officially launched mainchain and OneSwap, this is the first category appearing on CSC.
3. Outstanding Features of CoinEx Exchange
CoinEx is considered a valuable, convenient tool and possesses many advantages. Let's learn about CoinEx through the following outstanding reviews:
- CoinEx uses a secure hypertext transfer protocol (HTTPS) combined with multi-signature to ensure maximum security for users.
- In addition, CoinEx also recognizes IP addresses and constantly notifies users when it detects strange IPs via SMS and email.
CoinEx owns the most diverse ecosystem in the industry including CoinEx Exchange, ViaBTC Pool, CoinEx Chain, OneSwap, ViaWallet.
- CoinEx CEX: A centralized exchange for crypto and blockchain assets, with various trading forms, such as CoinEx Margin, Future, P2P,...
- CoinEx Smart Chain (CSC): Similar to CoinEx's BSC.
- Viawallet Wallet: Multi-chain & Multi-cryptocurrency Wallet, CoinEx's cryptocurrency storage wallet.
- OneSwap: A decentralized exchange (DEX) whose native token is ONES, providing users with functions such as swap, trade and liquidity.
Capable of executing high-speed transactions:
- The exchange can complete up to 10000 transactions per second using a privileged transaction matching engine while maintaining a stable speed.
Potential CET Token:
- CoinEx has a native ERC-20 token called CET. Holding CET will allow users to enjoy many privileges such as reducing transaction costs, using gas fees, receiving airdrops, increasing withdrawal speed, becoming VIP guests.
Affordable Transaction Fees:
- A prominent advantage of CoinEx is the transaction fees. Compared to the common ground in the market, CoinEx's transaction fees are considered to be relatively low.
Fast deposit and withdrawal process:
- With just 5 minutes, users can quickly deposit and withdraw money on CoinEx. For small withdrawals, the process is less than 5 minutes.
Own the optimal auto market feature:
- Owning the AMM feature, CoinEx is considered an automated market. When the exchange can automatically trade for profit, pay bonuses daily and no fees when depositing/withdrawing.
Strict Token Listing:
- CoinEx is to put the interests of users first. CoinEx has a rigorous process for evaluating project potential, which helps ensure the assets listed will benefit users.
Intelligent Product Management:
- CoinEx has a Financial Account, which helps users manage their finances smartly. The user's account will be automatically calculated daily interest.
Credibility with customers:
- Quality and prestige are always the guiding principles of CoinEx, ensuring customers' interests are at the highest level. Users will always receive their total assets upon request.
- The exchange always supports customers 24/7 through various communication channels such as Facebook, Telegram, Zalo and Medium.
CoinEx exchange has a variety of generation systems
See more: What is PancakeSwap? Summary of detailed knowledge
4. Some limitations of the CoinEx exchange
Besides the outstanding advantages above, CoinEx also inevitably has some limitations. Specifically:
- Cex lacks liquidity and has a Fake Volume phenomenon: The daily trading volume is only $130M and trustcore from Coingecko. This metric is relatively low and indicates Fake Volume.
- Broad ecosystem but few users: Although the ecosystem is relatively large, the users are few plus there is excellent competition from competing platforms. This makes CoinEx have relatively slow development steps.
CoinEx has a Volume Fake phenomenon
5. Products and services on the CoinEx exchange
CoinEx Exchange supports various products, from familiar coins like Bitcoin, Ethereum, Litecoin Cash to less popular coins like Bytom, Bitcoin Candy, etc... Some Coins and Tokens are used quite a lot by the exchange such as Bitcoin (BTC), Ethereum (EHT), Bitcoin Cash (BCH), Litecoin (LTC), Bytom (BTM), Cortex (CTXC), Dogecoin ( DOGE),...
CoinEx supports many types of Tokens
6. What is the conversion fee model of the CoinEx exchange?
Unlike the fee reduction model like Binance, CoinEx's "conversion fee" model will return the fee to the user after exchanging, buying and selling. This means that when you transact there will still be a fee but refunded afterwards. Players will pay fees through CET Token (CoinEx Token) – CoinEx similar value.
The fact that CoinEx is free when trading for users helps the exchange attract many users. In addition, they both help CoinEx increase the liquidity for CET Token, bringing benefits to both parties. Developing according to this model is quite effective when both parties benefit - the win-win rule.
CoinEx exchange develops according to the "paid" model for users
7. Types of expenses on CoinEx exchange
CoinEx exchange has many types of expenses to pay. Usually divided into 3 main groups. Let's take a look at these costs below:
Trading Fees Spot trading fees will be divided into 2 main groups: Regular market trading fees and AMM market trading fees.
7.1.1 For the regular market
For the stock market, the spot trading level on CoinEx will vary based on the VIP and market maker levels. The VIP level will be calculated based on each account's number of CET Tokens. In addition, the market-making story will be based on the number of spot trades calculated over 30 days.
Transaction fees vary by level
7.1.2 For the AMM Market
Unlike the stock market, the AMM market applies a separate fee system. In particular, the fee does not apply to VIP levels or users who use CET to deduct expenses. All users can access it easily. This fee will include CoinEx users and Market makers.
You can use CET to deduct fees
7.2 Perpetual Trading Fees
Like spot trading, Perpetual trading fees on the CoinEx exchange will vary based on VIP and market maker levels. Specifically:
- Fees for VIP levels: Maker fees range from 0.02% to 0.03%. The taker fee is from 0.04% – 0.05%.
- Fees for market maker levels: Maker fees from -0.015% - 0.03% and taker fees from 0.025% - 0.05%.
Fees vary by VIP level and market making
7.3 Deposit and Withdrawal Fees
CoinEx is known as a safe platform for the benefit of consumers. Using this platform helps players save on intermediary costs. What about deposit and withdrawal fees? Please refer to the following.
7.3.1 Deposit Fee
With CoinEx, for all Coins that the exchange supports, the deposit fee is charged for free.
7.3.2 Withdrawal Fees
Depending on each coin CoinEx exchange will stipulate different withdrawal fees. It seems that CoinEx exchange has cheaper withdrawal fees than other exchanges.
Withdrawal fees on CoinEx are cheaper than other exchanges
8. Instructions for registering a CoinEx exchange account
If you have a CoinEx account to log in, how do you need to do it? Do players already know how to register an account or not? If not, please follow the steps below:
- Step 1: Access the CoinEx website, and select the Register item.
- Step 2: Enter the information according to the instructions and select “Sign Up”.
- Step 3: When completing the registration, choose the 2FA security mode for your account.
- Step 4: You can select “SMS code” to choose security on your phone, then enter the code sent back from the email.
- Step 5: Enter your phone and get the verification code.
- Step 6: Complete the security process and successfully register
6 steps to register a CoinEx account
9. Instructions for account security on the CoinEx exchange
Any trading account related to money, including cryptocurrency, needs optimal security. To avoid the risk of account hacking. For protection on CoinEx, there are many ways that you can refer to the following.
9.1 Setting up 2-factor security (2FA)
Setting up security is crucial when logging into any account on social networking platforms. For protection on CoinEx, players can choose to set up 2-layer security. 2FA security has two ways: phone number verification or email verification. For specific steps, please follow the following:
9.1.1 Verify by phone number
- Step 1: Select “SMS code” to choose security on the phone, then enter the code sent from the email.
- Step 2: Enter your phone and get the verification code sent via SMS.
- Step 3: Complete the security process.
3 steps to set up security by phone
9.1.2 Verifying with a Google account
Similar to the steps of verifying with a phone number or a Google account, you need to choose a method of sending via email and complete the instructions. So the security process has been completed successfully.
9.2 Using TOTP Authentication
Using TOTP Authentication is also a very effective way of setting up security. To implement this security process, follow along in the article below.
- Step 1: Click “TOTP”.
- Step 2: Open Google Authenticator to scan the QR code. Note, you SHOULD save the private key provided by CoinEx so that you can recover the code when you lose your phone.
- Step 3: Select "send code" and enter the code from the exchange's email.
- Step 4: Enter the code in the Authenticator app, click "send".
Security with TOTP Authentication
9.3 Basic KYC Identity Verification
In addition to implementing the 2FA security mode and using TOTP, KYC identity verification is also a way for you to make your account secure. The steps are as follows:
- Step 1: Click “account”.
- Step 2: Then select “account settings”.
- Step 3: Select the "verify" box on the ID Verification line in the Basic info section.
- Step 4: Fill in the information according to the instructions and upload the verified document.
10. Instructions for depositing and withdrawing money on CoinEx exchange
How can I deposit and withdraw money in CoinEx exchange? If you still have questions, let's find the answer right here.
10.1 How to make a deposit
To deposit money into your account, you need to do a few things according to the following instructions:
- Step 1: At the main interface select: Assets then select Deposit
- Step 2: Click to select the coin you want to send
- Step 3: Copy the receiving address, press the “copy” button or scan the QR code.
Note: choosing the chain to receive money needs to coincide with the chain of deposit
10.2 How to withdraw
Everything is done in a straightforward and fast way for the same withdrawal. Please follow these steps:
- Step 1: On the main screen select "Withdraw"
- Step 2: Click the coin you want to withdraw.
- Step 3: Fill in the information to withdraw money such as:
- Address: Address you want to withdraw
- Actual amount: Withdrawal amount
- Fee: Withdrawal fee
11. Instructions for Trade Coin on CoinEx
To be able to trade coins on CoinEx, you need to make aDo some of the following actions:
- Step 1: Select “Exchange” then click on the symbol in the left corner to select the type of transaction coin.
- Step 2: Select the order to execute Limit, Stop-Limit or Market and then enter the amount of BTC you want, then select “Buy BTC”:
- Limit: Desired Price.
- Market: Market price.
2 steps to guide Trade Token
See more: What is MEXC Exchange? Functions and usage of MEXC
12. Instructions for using Perpetual on CoinEx
For players to easily manipulate and shorten the time when using Perpetual on CoinEx, BHO Network will introduce the steps below.
- Step 1: Select “Perpetual” then click on the symbol in the left corner to choose a trading coin
- Step 2: Perform the steps
- Change leverage
- Change order
- Fill quantity
- Select “Buy Long” or “Sell Short”
13. Instructions for using AMM on CoinEx exchange
4 steps to use AMM on CoinEx trading platform for beginners are as follows:
- Step 1: In the main interface select “AMM”.
- Step 2: Select “Operate” at the token pair you want to add liquidity.
- Step 3: “Add” and enter the number of tokens you want. If you wish to withdraw liquidity, select “Remove” and enter the number of Tokens you want to start.
- Step 4: Click “Earnings” to check the reward.
User Manual AMM
14. Instructions for placing Stop-Limit orders on CoinEx
The function of Stop-Limit is to take profits, cut losses or buy more coins without you having to "stand by" the computer. In addition, the unique feature of this feature is to help traders hide the buying/selling price.
In addition, the "sharks" often use stop-limit to discharge goods to sink prices, which is highly convenient. Stop limit works on the principle of "if - then". The image below is an example of Stop limit.
How to place a Stop-limit order
15. Instructions to buy cryptocurrency in VND on CoinEx exchange via XanPool platform
The steps to buying cryptocurrency in Vietnam Dong on CoinEx's XanPool platform are as follows:
- Step 1: Click " Fiat”.
- Step 2: Select the cryptocurrency, select VND and enter the amount you want to spend.
- Step 3: Select “Buy” in the XanPool section.
- Step 4: Confirm the orderer's information and select "Buy".
- Step 5: Confirm order information, select “Buy, " and go to XanPool homepage.
- Step 6: Select “Payment Method” -> select “Buy“. (Note: In the "Payment Method" section you need to select "Viettel Pay").
- Step 7: Sign in XanPool account.
- Step 8: Fill in personal information.
- Step 9: After confirming the transaction, select “Xchange” and log in to your account to check your assets.
Instructions to buy crypto via Xanpool
16. Should I use CoinEx and invest in CET Tokens?
In reality today, the tokens of the exchanges are pretty numerous and are maintained stably. The price of CET is currently trading at 0.06 USD and the highest price CET has ever reached is 0.14 USD.
CoinEx investment can bring high returns
The trading volume of CoinEx exchange will be equivalent to ProBit Global. At today's prices, one PROB Token is currently trading at 0.4 USD. Considering this aspect, the CoinEx token can continue to grow in price soon. Investing CoinEx Token is quite a reasonable choice.
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Above is the full content of “What is CoinEx exchange?”, with this information, BHO Network has brought a lot of helpful information to readers. Hopefully, you have grasped the issues related to electronic exchanges and have made a wise decision for yourself about whether to invest in the Cryptocurrency Token on the CoinEx exchange or not. Please visit website official website to read more useful articles.
Published on April 08, 2022
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