Is CoinW 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 CoinW is a good crypto exchange to start trading with. In this article you will learn whether CoinW is good for beginners, what its pros and cons are and what a novice trader needs to know.
Short summary about the broker CoinW
CoinW is a popular cryptocurrency exchange with headquarters in the British Virgin Islands. It provides services in 120 countries and has been fully translated into the world’s major languages, including English and Chinese. One can make deposits in U.S. dollars, Korean wones, Chinese yuans, and Vietnamese dongs. Cryptocurrencies are traded only for other cryptos, including Bitcoin, Litecoin, Ether, and hundreds of other altcoins. The mining pool is constantly increasing. Besides cryptocurrencies themselves, the exchange offers cryptocurrency futures and exchange-traded funds (ETFs). The fees are about average in the market and can be additionally reduced as trading volumes increase. CoinW also offers a variety of solutions for mining and staking, including hybrid programs with high interest rates up to 20%. The platform also allows large investors to participate in venture projects at the Bigtime and Memusic levels. A favorable referral program is available.
| 💰 Account currency: | U.S. dollars, Korean wones, Chinese yuans, Vietnamese dongs, and cryptocurrencies |
| 🚀 Minimum deposit: | 0.001 BTC |
| ⚖️ Leverage: | Up to 1:20 |
| 💱 Spread: | Market |
| 🔧 Instruments: | Cryptocurrencies |
| 💹 Margin Call / Stop Out: | No |
CoinW Pros and Cons
👍 Advantages of trading with CoinW:
•Bitcoin and hundreds of altcoins are traded on the platform, and the number of assets is constantly increasing;
•At the first trading level, takers and makers pay a 0.2% fee, which reduces as the trading volume grows;
•There are dozens of cloud mining and staking programs with optimized risks;
•One can trade cryptocurrencies, futures, and ETFs on the same platform;
•Trading is available in the TradingView browser or the exchange’s proprietary mobile app;
•Under the referral program, invited users get 500 USDT, and their inviters get 1 USDT for each transaction made by the referrals;
•The exchange offers large investors to invest in high-yield venture projects.
👎 Disadvantages of CoinW:
•This exchange provides many instruments but there is no crypto-fiat trading, only crypto-crypto;
•CoinW doesn’t have a call center, and technical support can only be contacted through Telegram, Twitter, or LiveChat;
•To get the lowest possible fee, you need to trade rather actively.
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 CoinW Users
Before you start working with an exchange, it is important that you evaluate its trading conditions. CoinW offers traders the following conditions.
| 💻 Trading platform: | TradingView |
| 📊 Accounts: | Standard |
| 💰 Account currency: | U.S. dollars, Korean wones, Chinese yuans, Vietnamese dongs, and cryptocurrencies |
| 💵 Replenishment / Withdrawal: | Bank cards, credit cards, cryptocurrency wallets, and electronic payment services |
| 🚀 Minimum deposit: | 0.001 BTC |
| ⚖️ Leverage: | Up to 1:20 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | No |
| 💱 Spread: | Market |
| 🔧 Instruments: | Cryptocurrencies |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | No |
| ⭐ Trading features: | The fees reduce when trading volumes grow; one can invest in venture projects; there is a favorable referral program |
| 🎁 Contests and bonuses: | Yes |
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 CoinW commissions and fees. In this section, you will find trading fees of the exchange as well as withdrawal fees.
At the start, for takers and makers, the trading fee is 0.2% of the transaction amount. The fee reduces as the trading volume increases. The trading volume in CWT (the exchange’s own token) is calculated based on transactions made within the last 30 days. For instance, if a trader gets over 2 680 CWT in a month, his fee will be 0.12%, and if his trading volume is 86 800 CWT or more, then the fee will be just 0.01%
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | Starting at $4 | Yes |
Investment programs of CoinW
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. CoinW offers the following passive income options.
Investment Programs, Available Markets, and Products of the Crypto Exchange
The main pool of the platform’s investment solutions consists of standard staking programs. There are different kinds of programs with fixed, flexible, and hybrid conditions. But what makes CoinW different from other platforms are the unique offers for the exchange’s proprietary wallet HyperPay. This wallet has built-in functions for investing in various cryptocurrencies that use the PoS protocols. And one can earn passive income by keeping the funds in the wallet without risks.
How does staking work?
Staking is an alternative to mining that doesn’t require large computing capacities. In mining, you get new coins by processing transactions. In staking, to get new coins, you first must already have coins to invest. Investors can make money by providing their funds to the staking pool at interest. Besides that, many startup companies take out development loans in PoS cryptocurrencies and pay deposit interests to investors in variable or fixed periods.
Examples of current staking programs:
DOGE mining; deposits are made for 21 or 42 days; adjustable interest rates of 3-7%; the program is permanent;
SUN mining; deposits are made for variable periods; adjustable interest rates of 5-7%; the program is permanent;
USDT/MATIC hybrid mining; deposits are made for 42 days; adjustable interest rates of 15-18%.
The company has a division called CoinW Ventures, which works with large venture projects. Any registered and verified user, irrespective of their activeness and trading volumes, can invest in CoinW Ventures. Long-term large investments are discussed individually. The leading projects of this division include Tradelize, AMARA, ClearDao, Oort Digital, and others.
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.
CoinW’s affiliate program
Every registered trader receives a unique referral link that he can use to invite other traders. An invited user gets a one-time payment of 500 USDT and brings 1 USDT to the link’s owner with every transaction by the invitee.
Conclusion. Is CoinW good for beginners?
The CoinW 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, CoinW 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.