CoinExchange (Coinexchange.io) - review, trading volume and pairs
Coinexchange.io сryptocurrency exchange was created in 2016, and, due to the presence of a great number of rare and popular altcoins, it immediately gained traction. Since it is altcoins, and not bitcoin, that are of the greatest interest to traders (due to higher volatility and prospects for price growth); at that moment, the exchange was flooded with traders interested in such assets. At the time of writing, the number of altcoins presented on the platform exceeds three hundred. It is such diversity that has determined the success of Coinexchange.io among the English-speaking audience, as today only an English version of the website is available.
The exchange offers quite acceptable commission fees, charging only 0.15% for each transaction. Besides, the exchange provides an affiliate program that allows referrals who attract new customers through an affiliate link to receive payments in bitcoin in the amount of 2.5% of the market maker turnover and 5% of the market taker turnover.
Registration on the CoinExchange website
The registration procedure on the exchange is simple and is no different from hundreds of other popular trading platforms. Once the user has confirmed that he/she is not a robot, the system offers to enter a contact email, come up with a username and password, and then press the «Register» button.
Confirmation of registration is carried out by sending a message to the contact email. By clicking on the link sent in the letter, you will immediately be taken to a website where you can set your account, as well as replenish the deposit with cryptographic coins.
As for account verification, CoinExchange is one of the few websites, where it is not necessary to confirm your data to remove trading restrictions.
Experts state that this is the right decision on the part of developers because on many crypto-currency platforms it is the need for verification that deters large market makers.
As is the case with many advanced trading platforms, Coinexchange.io has a very serious approach to security issues. Most user coins are stored in the so-called cold storages.
The so-called operational minimum is placed on online accounts. The withdrawal of funds is carried out by special divisions of the company.
What can a user do to increase the security of his/her trading account? The exchange offers a standard procedure of activating two-factor authentication through the appropriate Google app. 2FA can be used not only to log in to your account but also as an additional security gateway when conducting transactions on the exchange.
Making a deposit
A trading account on the exchange can be replenished only in cryptocurrency. To do this, go to the «Balances» section, select the coin that interests you, and generate an address for replenishment. Near each currency, there is a drop-down menu «Actions», after clicking on which the system will offer to deposit or withdraw money, get acquainted with the history of deposits and cash-outs, and see current orders. Given the number of currencies presented on the exchange, Coinexchange can be called a multi-currency wallet, designed to store rare cryptographic assets.
Trading and exchange interface
The entire trading interface of the exchange is divided into so-called active markets, where tokens are opposed to the main coin. To start trading, a trader needs to select the market type and, having read about the market conditions, choose the trading tool. Details regarding each crypto asset can be seen on the page of the specific altcoin.
Here you can find all basic tools, including a price chart, a trade blotter, and fields for opening orders. Both market and pending orders are available to the user.
Besides, the interface provides an English-language chat, which is moderated by the website administration. Here users discuss market conditions and other issues related to cryptocurrency trading.
The exchange news and notifications regarding the technical work of the website and information about changes in the exchange’s work are also published in the chat.
The main benefits of the exchange
Among the positive aspects of the exchange are:
• The variety of altcoins presented. On Coinexchange, you can find various almost unknown coins, which are not presented on larger platforms.
• Continuous improvement of the operating interface. The exchange creators are constantly adding new tools for trading.
• There is no need to verify your account. The user is not obliged to provide personal data, which is undoubtedly a great advantage for those who want to remain anonymous.
• Reasonable commission fee, which fully corresponds to the level of service provided on the exchange.
• High level of user deposits security. Only coins used to support current transactions are stored in online accounts.
Disadvantages of the exchange
Among some obvious disadvantages of the trading platform can be noticed:
• The absence of fiat currencies;
• English interface and lack of prospects for creating versions in other languages;
• Flawed design and an imperfect technical part;
• Lack of public information about the owners of the project and the development team;
• Customer service that answers too slowly;
• Relatively high fees for withdrawal of funds from the trading account.
Coinexchange is a promising project that has successfully occupied its niche among the trading platforms that focus on rare altcoins in demand.
However, despite the obvious interest of users to this website, many experts suspect the lack of information about the people who are behind its creation.
Therefore, when deciding to make a deposit on Coinexchange, a user should understand that he/she undertakes all the risks. In any case, users are not recommended to store large sums on such exchanges.