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Official licenses of Coinx exchange
To be completely honest with you, choosing a cryptocurrency exchange that fits your goals and has all the features and services you need at a given time is probably one of the most complicated things in the crypto world. Why? Well, it’s simple – there are so many quality exchanges out there. One of them is definitely the CoinEx exchange. Continue to stay with Erzdigital website.
Quinx is a well-known name in the crypto industry. In this article, we will take a detailed look at the features, supported coins, deposits, withdrawals, fees, supported countries, safety and other important parts of the Coinx exchange.
Quinx can be used in more than 10 languages including English, Chinese, French and Spanish.
This exchange offers a beginner-friendly interface – it’s very easy to use. The Coinx exchange landing page looks well organized and has good explanations of the platform’s core features. viaBTC is the parent company of Coinx while it is headquartered in Hong Kong.
Introduction of Coinx exchange and its licenses
The contents of the description of the Coinx exchange include:
Types of altcoins
Low costs (competitive).
High level security
No mandatory KYC
Free deposits
Excellent help center
Mobile app available (both for iOS and Android)
Note: Keep in mind that these are just my opinions based on my thorough research on the Coinx exchange. In any case, please do your research before deciding whether or not you want to use it.
Services and Features
Buy and sell crypto
As mentioned above, Coinx is an exchange for beginners, so buying and selling cryptocurrencies is just a few clicks away. Of course, first you have to go through the registration process (it will be explained later in the article).
Coinx exchange offers spot trading. For those unfamiliar with the term, spot trading is the process of buying and selling tokens and coins at spot prices for immediate settlement.
Tap the “Exchange” tab at the top of the home page and you’ll be taken to a new window. You will be directed to a window as you can see below. Let me describe the entire exchange page:
Search bar and market area
Trading pairs and basic market information
Market and K-line depth chart
Adjustment of cost discount and rate of manufacturer and recipient
Market selection area
Order placement area
Purchase and sale ratio
Disability depth area of the market
Last trades area
Current orders area
Order history area
Complete step-by-step training of the Coinex exchange platform
Margin exchange
Coinx also supports margin trading – an advanced trading feature for experienced traders. In fact, I would say that it is only suitable for experienced traders because I would not recommend it to a beginner. If you want to do margin trading on Quinx exchange, you must first transfer your funds from spot trading account to your margin trading account.
Margin trading involves a significant level of risk and should be undertaken by traders who are not ready to lose some serious money from their budget. However, it allows you to trade with a larger amount of money (borrowed from a third party), meaning you can earn more than your “real” budget.
Margin transactions of the Quinx exchange
No, Quinx exchange does not require KYC (Know Your Customer) verification process. You will be able to verify your account with full confidence and also increase the daily withdrawal limit and have an exclusive support manager.
However, these are the only two differences between an unverified and a verified account, so my suggestion here is to wait, try the exchange first, and then decide if you really need to verify your account for just the two listed changes. Do you have it or not?
According to the CoinEx team, they have over 2 million users in over 100 countries. In fact, Coinx is available almost globally with few exceptions (countries where trading of crypto-assets is prohibited).
The numbers show that 15% of quinx comes from China and 85% internationally.
Is CoinEx legit and safe?
When you look at the large user base of the Coinx exchange, it is definitely a legitimate legitimate exchange. When it comes to the safety and security of your funds – Quinx takes this very seriously which is always a plus. Coinx offers a multi-sig cold wallet storage, although it is not clear what percentage of funds deposited with them are kept offline.
The exchange was never hacked. CoinEx’s Bug Bounty program is definitely worth a mention – if you report any kind of bug or problem to the exchange, you can get rewarded in USDT. Depending on the type of issue you report, rewards can range from 200 USDT to 10,000 USDT. In this exchange, like other similar cases, they set their own tariff for currencies. For example, the price of Bitcoin in Quinx for buying and selling may be slightly different from other exchanges.
Legal and official licenses of CoinEx exchange
Or is CoinEx regulated?
Coinx exchange is regulated under Estonian laws as the exchange has an Estonian digital asset trading license.
Coinx exchange is definitely a good cryptocurrency exchange and crypto service provider, especially if you want to find a place for permanent margin and futures trading. I would say that the exchange is suitable for both beginners and experienced traders as it is very easy to use and offers advanced trading services.
Like any other exchange, Coinx has its downsides, such as an extensive verification process and direct ways for fiat deposits. However, none of these are deal breakers in my opinion.
You can also share your opinion about Coinx exchange with us in the comments section.
