According to Newsbtc, CoinEx had a 30,000% trading volume in just 24 hours, this exchange has already overtaken Binance, but only a few people noticed it. This happened in 2018, but why are we talking about this exchange now?
That is because CoinEx is privacy-minded for investors. Therefore, if you are curious, you must checkout for your cryptocurrency trades. Low fees + high privacy is a great combination. But does CoinEx have all the right features? How is it better than most of the exchanges we use today? Is it true that U.S. citizens can use it? Let’s get all your questions answered in this video.
What is CoinEx?
CoinEx is in the top 55 exchange list by trading volume, which started in December 2017, a couple of months after Binance Exchange launched in June 2017. Over the last four years, CoinEx has earned a firm name in the crypto ecosystem for being a privacy-centric exchange that opens access to a wide array of stablecoins.
Source: CoinEx
Also, the decentralized platform has the following ecosystem:
- ViaBTCCapital – An investment platform that incorporates cash, resources, and post-investment services.
- CoinEx Smart Chain: Decentralized public chain ecosystem –
- DEX – OneSwap
- Multicurrency pool – ViaBTC-Pool
- Decentralized multicurrency wallet – ViaWallet
However, this video will focus on CoinEx – Crypto and derivatives exchange only. The most significant selling point for many is the lack of forced KYC, but this exchange offers much more.
What Does CoinEx Offer?
While walking through CoinEx, we found it lists different kinds of tokens: Metaverse, blockchain games, DeFi, among others. This is good news for us and the exchange as it claims that over 2million customers are spread over 100 countries. But, what makes CoinEx different?
- Huge selection of altcoins: Not only does CoinEx offer a wide array of different altcoins, but they’re also constantly adding exciting new projects that go through their vetting process.
- Low fees: Not only are their fees competitively low, but they can also be brought down further if you hold $CET, their native token, or choose it to pay you. These are two different discounts that can even be stacked.
- High-level security: The exchange uses cold wallet storage. But, they also let you know whenever anything happens on your account, just in case it is not you.
- No forced KYC: All you need to enter to sign up for CoinEx is an email address, a strong password, and 2FA. But, if you want to raise your daily withdrawal limit from USD 10,000 to USD 1 million, you need to verify. I guess you might need such limitations. After all, we all aim to be crypto millionaires one day.
More Features
If you choose to go through KYC, you will get significantly higher withdrawal limits and access to all promotional activities on the platform, like a unique referral code.
- Free deposits and withdrawals: Deposits are free, while leaves generate a miner fee that depends on the blockchain in question.
- Fiat onboarding: The platform supports more than 60 fiat currencies and six third-party payment partners, which accept payments via Visa or Mastercard.
- Aside from spot trading: CoinEx also offers perpetual contracts and margin trading. Of course, these can be combined, which means you can place long buys using leverage from the exchange.
Did you know that in August 2020, the exchange launched a trade-driven mining program that was immensely popular? It made them the world’s biggest exchange by 24-hour trading volume for a short while. The last mining program was active in June 2021. Keep a look at this space to see if more such mining programs are coming up.
CoinEx Tokenomics
CoinEx’s native ERC-20 token is $CET, a marketcap of USD 346 million and a circulating supply that has achieved 93% of the total supply. Moreover, the $CET token had its ATH on April 13th, trading at USD 0.14. Likewise, since its launch in March 2018, $CET has grown more than 1230% until today.
Source: CoinGecko
Also, it’s important to mention that $CET has a burning mechanism that makes its deflationary token and creates a price squeeze. The monthly repurchased tokens are destroyed to maintain the total supply to 3 billion. But the question in our mind is, why would you buy a $CET token? Here are its use cases:
- It is used to pay transaction fees
- Using CET unlocks promotions for you
Moreover, $CET is why CoinEX can offer its users the advantage of low fees. The total fee percentage will depend on two main factors:
- First, how much $CET do you hold (both on the exchange and in a wallet that you can bind to the exchange)
- Whether you choose to pay transaction fees with $CET, which nets you 30% off the amount due, the two potential discounts can even be stacked.
You can check out the trading fee discounts based on CET holdings on this screen.
News & Roadmap
CoinEx is celebrating its 4th anniversary by giving away a lot of prizes and surprises for everyone in 2 events with tips like 1,5000 $CET / an iPhone 13 / MacBook Pro 16″. You can easily claim these prizes on Youtube /Facebook/telegram.
📢 CoinEx 4th Carnival
It's here! 🥳 We are running numerous events to celebrate our 4️⃣th Anniversary with massive rewards. Full guide in thread.
But first,
✅ Follow @coinexcom
✅ Tag 3 friends
✅ Quote Tweet with #CoinEx4th #Together4ever
to WIN 400 $CET! pic.twitter.com/LZRmcUaMWS— CoinEx Global (@coinexcom) December 10, 2021
Also, on Twitter, they are conducting some exciting giveaways. So if you want to participate in this critical event, stay tuned to their social media accounts to have chances to win such good prizes.
On the other hand, CoinEx has just celebrated its fourth anniversary. It has achieved significant milestones like the CoinEx exchange, the $CET token, ViaWallet, ViaBTC Capital, and the CoinEx Smart Chain. However, CoinEx wants more and is planning its globalization.
More About CoinEx
Nowadays, CoinEx has a total trading value of USD 722.7 million in the last 24 hours and USD 23.95 billion in the previous month. On the other hand, anyone can download the CoinEx app in:
Also, it’s exciting to see that CoinEx has worked in an API, so developers can build their trading tools to achieve a more effective trading strategy. On the other hand, CoinEx has a 24/7 client support area, and we hear from the community that their support is excellent.
Now about the exciting part. Can U.S. citizens use CoinEX? They are not saying it outrightly, but U.S. citizens are not prohibited on their services page either. So, if you are a U.S. citizen, we suggest you try using CoinEX at your discretion.
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