US investors permitted
CoinEx – Detailed review
A trading cryptocurrency guide must provide reviews of all of the top crypto exchanges out there, so that you can find the best cryptocurrency exchange site for you. This review of CoinEx consists of four parts: general information, fees, deposit methods and security.
CoinEx is a cryptocurrency exchange based in Hong Kong. There are loads of coin exchanges from Hong Kong. Hong Kong is in a way the Mecca of cryptocurrency trading. A non-exhaustive list of competitors to this exchange on its home turf is Binance, Bit-Z, KuCoin, Gatecoin, BitFlip and CoinEx Market.
It does not list US-investors as prohibited from trading. But, US-investors should do their own independent assessment of any problems arising from their residency or citizenship. In a worst-case scenario, they may not be able to trade at one or several exchanges that could be the best cryptocurrency exchange site for them (maybe including this one).
The most important lesson to learn when picking a cryptocurrency exchange is that you must always check the fees.
CoinEx’s trading fees for takers are 0.10%. This fee is slightly below the industry average. The industry average is arguably around 0.25%. The fee thus constitutes a competitive advantage against the majority of other top crypto exchanges in the market and maybe even makes CoinEx the best cryptocurrency exchange site for you.
Furthermore, this exchange does not charge any fees for makers, thus promoting the liquidity at the exchange. This is a very strong competitive edge in the market and is especially beneficial for the investors not interested in picking up existing orders from the order book but rather prefers to “go fishing” with maker-orders.
The exchange charges a withdrawal fee amounting to 0.001 BTC when you withdraw BTC. This is in line with industry average.
CoinEx does not accept any other deposit method than cryptocurrencies, so new crypto investors are actually restricted from trading here. If you don’t have any crypto but want to start trading here, you will first have to purchase cryptocurrencies from another exchange and then, as a second step, deposit them at CoinEx.
CoinEx’s security score is F, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is below industry average when it comes to top crypto exchanges.
If you have concluded that this is the exchange for you, congratulations! Go for it. But if not, please use our Exchange Finder here to find out which exchange has the best cryptocurrency exchange site for you.