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 CoinField consists of four parts: general information, fees, deposit methods and security.
CoinField is a Canadian cryptocurrency exchange that launched in January 2018. As its main selling points, CoinField particularly promotes that it is easy to use (with 24/7 support as well), and that is secure and transparent. We consider all of these things as important factors when picking which cryptocurrency exchange to trade at.
On the date of writing this review (2 July 2019), CoinField had a 24 hour trading volume of USD 13 million. With this figure, it landed on place no. 87 on the list of the top 100 exchanges in the world sorted in order of 24 hour trading volumes. Accordingly, liquidity here is acceptable, but there is definitely some room for improvement as well.
US-investors may not trade here. This is primarily due to the US-legal regime that imposes obligations on companies that accept funds from the US-investors. Such obligations include, inter alia, preparing marketing material in accordance with SEC-standards and registering them with the SEC. This is a very burdensome process. Don’t be too sad though, there are many other venues that offer the type of trading this exchange does. Use our Exchange Finder to find out which alternatives you have.
If you are on of the people who prefers to do his/her trading while “on the go”, then you’ll be happy to learn that CoinField is also available through mobile use.
CoinField 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. They also show 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 CoinField:
CoinField Trading fees
The one thing we can’t stress enough is that you must always ascertain the trading fees at any exchange you are interested in. 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. Makers make the liquidity in a market and takers remove this liquidity by matching makers’ orders with their own.
CoinField’s trading fees vary significantly depending upon which trading pair you are working with. The range is between 0.05% to 0.25% for makers, and between 0.15% to 0.50% for takers. However, for most crypto-to-crypto trading pairs, the trading fees for takers are 0.24% and for makers 0.15%. These fees are in line with the historic industry averages.
CoinField Withdrawal fees
CoinField charges a withdrawal fee amounting to 0.002 BTC when you withdraw BTC. This is actually substantially above the global industry average. The global industry average is 0.000812 BTC per BTC-withdrawal. It is a bit surprising to us that CoinField has chosen to charge a withdrawal fee that is almost 150% higher than the industry average.
All in all with respect to fees, CoinField have reasonable trading fees but their withdrawal fees are unnecessarily high.
At CoinField, you can deposit through both wire transfer and credit cards. This can be helpful especially for newer crypto investors putting in their first funds in the crypto world. It also makes CoinField what we call an “entry-level exchange”.
In addition to the wide range of cryptocurrencies, CoinField also accepts six fiat currencies: USD, CAD, EUR, GBP, JPY and AED (the latter being the United Arab Emirates Dirham).
We run all the exchange-websites in Mozilla’s Observatory-test (https://observatory.mozilla.org/). The score in such test is one of many indicators of the exchange’s security. Coinmerce received an F- score in this test. This should however be viewed in light of the fact that F is the Mozilla Observatory-score received by the majority of all exchanges in our Cryptocurrency Exchange List.
As mentioned above, this exchange supports credit card deposits. Either alone or through the use of any of its associated payment service providers. Other cryptocurrency exchanges that also have this option include: