CoinEx Review [Complete Exchange Review 2023]

CoinEx is a global cryptocurrency exchange that has been in operation since late 2017. While not one of the biggest exchanges by volume, CoinEx strives to offer traders an easy-to-use experience with low fees.

In this review, we’ll take an in-depth look at the exchange’s features, fees, supported coins, and other important aspects to help determine if CoinEx is a suitable option for your needs.

If, after you finish this review, you decide that CoinEx is not the right choice for you, check KuCoin, one of the best crypto exchanges in the market today. KuCoin has been around since 2017 and facilitates over $150 million in daily trading volume across its vast array of listed cryptocurrencies. The exchange has fairly low fees at 0.1% and a well-optimized mobile app. Furthermore, KuCoin is running a special $3,200 promotion for new users, which is an excellent way to jumpstart your trading experience. 

What is CoinEx?

CoinEx was founded in late 2017 and is headquartered in Hong Kong. Within a few short years, the exchange has grown to handle around $200 million in daily volume across its markets. CoinEx strives to keep fees and requirements low in order to appeal to both beginner and experienced traders. The exchange also issues its own token, called CET, which can be used to lower trading fees. 

Key information about CoinEx:

• CoinEx is headquartered in Hong Kong and holds an Estonian Virtual Currency Exchange License.
• The exchange supports over 400 digital assets, including major cryptocurrencies and some smaller altcoins. It also accepts 50+ fiat currencies for deposits and withdrawals.
• In terms of features, CoinEx offers spot and margin trading, payment services, cloud mining, and its native utility token, CET.
• Security is a top priority for CoinEx, which uses bank-level multi-signature cold storage and rigorous system audits.
• CoinEx does not require KYC verification for basic spot trading unless your daily withdrawal exceeds $10,000 USD.
• Trading fees on CoinEx range from 0.1-0.2%, but can be reduced by holding the exchange’s CET token.
• CoinEx sees millions of daily visitors and consistently ranks among the top 20 exchanges by volume traded.

Visit CoinEx

CoinEx exchange review 2023: A complete overview of features, fees, and more

Now that we have a basic understanding of what CoinEx is, and its general advantages and disadvantages, let’s dive deeper into the exchange’s key features and offerings.

Trading features

CoinEx supports both spot and margin trading across its suite of markets. The exchange employs a matching engine capable of processing millions of orders per second to keep trades executing smoothly. Basic order types like market, limit, and stop-limit orders are available from both the web and native mobile interfaces.

Trading page. Image source: CoinEx

Supported cryptocurrencies

More than 250 coins are listed on CoinEx for trading, including major names like Bitcoin, Ethereum, Litecoin, and XRP. Lesser-known altcoins also have a home on the exchange. Coins can be traded against Tether (USDT) or against each other in pairs like ETH/BTC.

Fees

Trading fees on CoinEx range from 0.1% to 0.2% depending on the 30-day trade volume or if fees are paid using CET tokens. Maker and taker fees may differ. Withdrawal fees are typically less than $10 worth of crypto. CoinEx Ventures also offers a tiered fee discount program to high-volume institutional clients.

Mobile app

The CoinEx mobile app works well for both iOS and Android. All core trading features found on the website, like placing orders and viewing charts and balances, are easily accessible from the app. Interface navigation is clean and intuitive for carrying out trades on the go.

CoinEx Mobile App (Image source: CoinEx.com)

Security

CoinEx employs bank-level multi-signature security with private keys fragmented across geographically separated servers to keep funds safe in cold storage. The exchange also holds regular security assessments and maintains insurance. Two-factor authentication is available to further beef up account safety.

Customer support

While support quality can be an issue, CoinEx provides 24/7 access to live chat, email support and an active help center. Response times to tickets could stand to improve but the exchange aims for responses within 3-5 days currently.

CoinEx review FAQs

Is CoinEx a good exchange?

CoinEx provides adequate liquidity and features to be a usable exchange for the average investor or trader. Few serious complaints exist about the exchange’s matching engines or trade executions. Areas like average customer support would still benefit from refinement, however.

Is CoinEx safe and legit?

Yes, CoinEx has registered with proper financial authorities where required and appears to handle funds securely using best practices in crypto security. It is worth noting that CoinEx has been a victim of an attack in September 2023, which siphoned $70 million worth of digital assets. To CoinEx’s credit, the cold wallets were unaffected in the attack. Also, the exchange reacted very quickly and suspended withdrawals and deposits in order to update its security systems and prevent any future hot wallet breaches.

Where is CoinEx located?

CoinEx is based and licensed to operate out of Hong Kong. The exchange has an international user base, but certain limitations apply based on user location, like for those residing in the United States.

Is CoinEx available in the US?

While US residents can access and trade on CoinEx, the exchange does not actively target or market to those in America presently due to regulatory complexity. CoinEx maintains it does not intentionally serve American customers.

How much does CoinEx charge to withdraw money?

Withdrawal fees on CoinEx range from $1 up to roughly $20 or more, depending on the cryptocurrency being withdrawn. Specific on-chain token withdrawal costs are clearly listed on the exchange’s withdrawal page.

What are the fees on the CoinEx exchange?

We’ve covered this above, but in summary, trading fees range from 0.1% to 0.2% on CoinEx depending on volume tiers or paying in CET tokens. Maker-taker fees may differ slightly, and withdrawal fees average less than $10 per crypto transferred out.

CoinEx review verdict

CoinEx offers a reasonable all-inclusive experience for active cryptocurrency traders. The exchange supports over 250 coins, provides basic yet effective order types and tools, and maintains competitive fees. Areas that could still improve, like customer support response times, have shown signs of enhancement over time as well. For those seeking a mid-size crypto exchange platform without overly demanding restrictions or complex fee structures, CoinEx presents a suitable option that is well worth considering in 2023.

If you are hesitant about giving CoinEx a try due to its recent security problems, consider checking out our selection of the safest cryptocurrency exchanges.