UPDATE 15 October 2019: This exchange closed down today, pursuant to a board decision made on 1 October 2019. Apparently, the decision was purely business driven. This was the announcement:
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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 CoinExchange.io consists of four parts: general information, fees, deposit methods and security.
CoinExchange.io is an Australian cryptocurrency exchange that launched in March 2016.
The exchange states that security is their priority. They employ an aggressive cold storage policy on all currencies in their system. The exchange also states that good support is second only to security and endeavour to answer any queries from customers as quickly as possible.
On the date of last updating this review (5 July 2019), the reported 24 hour trading volume on this trading platform was only USD 360,842. This trading volume is quite low and any trader interested in registering an account here should consider this before doing so. When trading volume is low, it might be difficult to find orders to purchase from or sell to that reflect market prices. On the date hereof, this trading volume placed Coinexchange.io on place no. 174 on the list of the exchanges in the world with the highest 24 hour trading volumes.
The platform does not forbid US-investors from trading. Regardless, all US-investors should do their own independent assessment of any problems arising from their residency or citizenship.
CoinExchange.io Trading View
Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you. The below is a picture of the trading view at CoinExchange.io:
CoinExchange.io Trading fees
Every trade occurs between two parties: the maker, whose order exists on the order book prior to the trade, and the taker, who places the order that matches (or “takes”) the maker’s order. Many – but not all – cryptocurrency exchanges have different fees for the makers and the takers. Coinexchange.io does not distinguish between the different types of order placers. Instead, it has what we call “flat fees”, meaning that the fee is the same for both maker and takers. CoinExchange.io offers a flat trading fee of 0.15%. 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 CoinExchange.io the best cryptocurrency exchange site for you.
CoinExchange.io Withdrawal fees
The exchange charges a withdrawal fee amounting to 0.0005 BTC when you withdraw BTC. This is below the global industry average. Global industry average for BTC-withdrawals is 0.000812 BTC, so this exchange’s withdrawal fee is roughly 40% lower than the industry average.
All in all, the fees charged by CoinExchange.io are definitely competitive.
This trading platform does not accept any other deposit method than cryptocurrencies, so new crypto investors are 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 this exchange.
CoinExchange.io’s security score is D, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is in line with industry average when it comes to top crypto exchanges.
The exchange reviewed above has a large number of supported cryptos. If a large number of supported cryptos is an important factor for you in your choice of exchange, you could also check out the following exchanges: