UPDATE 1 September 2021: When trying to access the website of Coinhe today, we received the following message on the platform being in maintenance mode:
We saw the message when visiting the website on 1 August. Accordingly, we have decided to mark the exchange as "dead" and move it to our Exchange Graveyard. If the exchange's website would become accessible again and it is in fact just in a maintenance phase, we will "revive" it and bring it back to our Exchange List.
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CoinHe is a cryptocurrency exchange from Singapore that has been active since January 2019.
Why do so many exchanges not allow US citizens to open accounts with them? The answer has only three letters. S, E and C (the Securities Exchange Commission). The reason the SEC is so scary is because the US does not allow foreign companies to solicit US investors, unless those foreign companies are also registered in the US (with the SEC). If foreign companies solicit US investors anyway, the SEC can sue them. There are many examples of when the SEC has sued crypto exchanges, one of which being when they sued EtherDelta for operating an unregistered exchange. Another example was when they sued Bitfinex and claimed that the stablecoin Tether (USDT) was misleading investors. It is very likely that more cases will follow.
It is unclear whether CoinHe permits US investors or not. We have not been able to understand their Terms and Conditions. We urge any US investors to form their own opinion on the permissibility of their trading at CoinHe though.
CoinHe Mobile Support
Most crypto traders feel that desktop give the best conditions for their trading. The computer has a bigger screen, and on bigger screens, more of the crucial information that most traders base their trading decisions on can be viewed at the same time. The trading chart will also be easier to display. However, not all crypto investors require desktops for their trading. Some prefer to do their crypto trading via their mobile phone. If you are one of those traders, you’ll be happy to learn that CoinHe’s trading platform is also mobile compatible. You can download it to/from both the AppStore and Google Play:
CoinHe Trading View
Every trading platform has a trading view. The trading view is the part of the exchange’s website where you can see the price chart of a certain cryptocurrency and what its current price is. There are normally also buy and sell boxes, where you can place orders with respect to the relevant crypto, and, at most platforms, you will also be able to see the order history (i.e., previous transactions involving the relevant crypto). Everything in the same view on your desktop. There are of course also variations to what we have now described. This is the trading view at CoinHe:
It is up to you – and only you – to decide if the above purchase interface is suitable to you.
CoinHe Trading fees
Every time you place an order, the exchange charges you a trading fee. The trading fee is normally a percentage of the value of the trade order. Many exchanges divide between takers and makers. Takers are the one who “take” an existing order from the order book.
CoinHe charges what we call flat fees, meaning that both the takers and the makers pay the same fee. In this case, that fee is 0.40%. These flat fees are substantially above the global industry averages for centralized exchanges. Sure, industry averages have historically been around 0.20-0.25% but we now see new industry averages emerging around 0.10%-0.15%. Regardless of whether you compare with the historic or new industry averages, CoinHe's trading fees are way above though.
CoinHe Withdrawal fees
CoinHe charges a withdrawal fee of 0.0005 BTC per BTC-withdrawal. This fee is in line with industry average, or even slightly below. The current global industry average is around 0.0006 BTC per BTC-withdrawal.
In addition to depositing cryptocurrency to the platform, CoinHe also lets you deposit fiat currency. However, only through wire transfer (not credit or debit card).
Seeing as fiat currency deposits are possible at this trading platform, CoinHe qualifies as an “entry-level exchange”, making it an exchange where new crypto investors can start their journey into the exciting crypto world.