Is CoinEx a Good Crypto Exchange for Beginners?
It is important for novice cryptocurrency traders to choose the right crypto exchange. Not all companies can be used when you are just starting your path in trading, which is why the success in cryptocurrency trading depends on making the right choice. Beginners often wonder whether CoinEx is a good crypto exchange to start trading with. In this article you will learn whether CoinEx is good for beginners, what its pros and cons are and what a novice trader needs to know.
Short summary about the broker CoinEx
The CoinEx exchange is a multifunctional platform that combines the functions of the cryptocurrency market and a crypto exchange. Bitcoin, Ethereum, USDT, and dozens of other cryptocurrencies and tokens are at the trader’s disposal. Assets are exchanged and traded relative to each other, and there are pairs with world currencies, the most prominent contracts are with USD. The exchange has a large trading volume, and thanks to the patented lightning-quick match engine, the company guarantees the simultaneous stability of thousands of orders, each of which is reliably protected. The site has its proprietary CET coin, which is issued daily. In addition to the web version of the trading terminal, there’s is a user-friendly mobile application. Fees are fixed and they depend on the trading level and the presence/absence of VIP status.
| 💰 Account currency: | Any |
| 🚀 Minimum deposit: | Depends on the asset and type |
| ⚖️ Leverage: | no |
| 💱 Spread: | 0.2% |
| 🔧 Instruments: | Cryptos, currencies |
| 💹 Margin Call / Stop Out: | No |
CoinEx Pros and Cons
👍 Advantages of trading with CoinEx:
•large trading volumes, loads of cryptocurrencies, and tokens;
•convenient and functional mobile application;
•low fees (especially with VIP status);
•you can get the status of a market maker and an ambassador;
•legal license for digital assets;
•the company has a reserve fund;
•round-the-clock professional technical support.
👎 Disadvantages of CoinEx:
•affiliate program for ambassadors only;
•absence of investment programs.
What is a Good Crypto Exchange for Beginners?
In order to choose the right broker for a beginner, you need to consider several aspects.
Here are the main ones:
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Education. It is important for novice crypto traders to learn how to trade. An exchange can offer educational courses, video tutorials, articles, webinars, etc. The more learning opportunities there are the better.
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Availability of a demo account. You will need this account to practice. It provides an opportunity for a beginner to trade risk free and try out trading strategies.
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Availability of a simple method to buy cryptocurrencies. An exchange service or a P2P exchange would be an advantage for an exchange.
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Low fees. The level of income of the trader depends on the level of the fees. Therefore, it is important to choose a company that charges minimum fees. Crypto exchanges mostly use the Maker and Taker fee model. It is important that you study them.
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Instruments for passive investing. In addition to active trading, passive income is also important for beginners. Pay attention to availability of copy trading or staking.
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Trading platform. It is important for a novice trader to choose the simplest trading platform that will be easy-to-use for trading.
In addition to these factors, you also need to consider how customer support operates, as it will also be important. Bonuses for beginners are also a nice perk.
Trading Conditions for CoinEx Users
Before you start working with an exchange, it is important that you evaluate its trading conditions. CoinEx offers traders the following conditions.
| 💻 Trading platform: | Proprietary platform |
| 📊 Accounts: | Standard |
| 💰 Account currency: | Any |
| 💵 Replenishment / Withdrawal: | Bank cards and accounts, cryptocurrency wallets |
| 🚀 Minimum deposit: | Depends on the asset and type |
| ⚖️ Leverage: | no |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | zero-entry |
| 💱 Spread: | 0.2% |
| 🔧 Instruments: | Cryptos, currencies |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | Not indicated |
| ⭐ Trading features: | Flexible commission system; has its own CET coin; there are no passive earning options; you can become an Ambassador with lucrative bonuses |
| 🎁 Contests and bonuses: | Not indicated |
Commissions and Fees
The size of commissions and fees is also an important factor of choice. Traders Union analysts have prepared a short review of CoinEx commissions and fees. In this section, you will find trading fees of the exchange as well as withdrawal fees.
CoinEx's transaction fee system is based on the rank and hierarchy of users. The user's position in the hierarchy is determined by the trading volume over the last 30 days. The more trades, the higher the trading level and the lower the commission. At the initial zero levels, the maker and taker commissions are 0.2%. At the highest (fifth) level, no commission is taken from the maker, the taker commission is 0.05%. Reduced commissions are available for traders with VIP status. To obtain VIP status, high trading volumes are required using CET (platform coins). Non-VIP users can also trade CETs with reduced maker and taker fees. An additional reduction in commissions is possible upon obtaining the status of a market maker or an ambassador. The Ambassador status is assigned on an individual basis.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | From 0.2% per market order | Depends on the asset |
Investment programs of CoinEx
It is important for novice traders not only to trade actively, but also earn passive income. Passive investing can help you earn extra profit, and also compensate for the losses you may incur as a result of active trading. CoinEx offers the following passive income options.
Investment Programs, Available Markets, and Products of the Crypto Exchange
The CoinEx crypto exchange does not offer passive earning options because there are no investment programs. Traders can make money by exchanging and selling cryptocurrencies. Referral payments are provided for ambassadors.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of thedeal and all the steps from signing up to withdrawal of profits.
CoinEx’s affiliate program
The affiliate program is available only to ambassadors (partners) of the site. Please note that, unlike market maker status, ambassador status cannot be automatically obtained for significant trading volumes alone. An application must be submitted to be reviewed individually by CoinEx Exchange agents.
The requirements you need to fulfill to become an ambassador are described in detail in the corresponding section of the official website of the crypto exchange. There are a lot of advantages and bonuses for ambassadors, including referral payments for invited users. All users who came to the site using the ambassador's referral link bring him a profit expressed as a percentage of the fees for the transactions:
up to $500,000 — 40% of fees are paid;
up to $2,500,000 — 45% of fees are paid;
up to $10,000,000 — 50% of the fees are paid.
Please bear in mind that the total trading volume of all your referrals is counted, not each one individually. The referral status is unlimited. Hence, you will receive payments for all invited users while they are trading on the site. The reward is paid in USDT. If for the last 30 days the total trading volume of your referrals is less than the threshold values (specified individually), you will not receive any payments.
Conclusion. Is CoinEx good for beginners?
The CoinEx cryptocurrency exchange will be an excellent choice for beginners. The exchange offers a convenient trading platform, which a beginner can learn to work with rather quickly. There is an excellent education center with a large number of materials for novice traders. Also, traders can earn passive income on good conditions. Therefore, CoinEx could be considered as a good cryptocurrency exchange for a start.
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FAQ
What do I need to know about the fees charged by cryptocurrency exchanges?
The majority of cryptocurrency exchanges use the Maker/Taker fee model. As a rule, they use a multi-level system for traders that depends on the trading volume. The higher the trader’s trading volume, the lower the fees.
How do I choose a reliable cryptocurrency exchange?
Crypto exchanges mostly operate without licenses, as the majority of countries haven’t adopted legislation to regulate them. In order to choose a reliable exchange, you need to find out about its reputation and read the reviews about user experiences with it.
How many cryptocurrencies could a crypto exchange offer?
The number of cryptocurrencies on the listing of a cryptocurrency exchange may be very different. Some platforms offer less than 10, while others – several hundreds. It is important that you check the choice of cryptocurrency before registering on the exchange.
What are the risks of investing in cryptocurrencies?
Investing in cryptocurrencies carry high risks due to their high volatility. It could cause substantial losses, which is why it is important to observe the rules of risk management.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.