Coinex Exchange is not reputable 1

Coinex Exchange is not reputable

The Chinese govt crackdown on most cryptocurrency companies led to the ousting of Exchanges from china and also caused some to emerge around its neighborhood like Hong Kong. Today, Hong Kong has become a common headquarters for such Exchanges.

Coinex, as one of such Exchanges was launched recently and offers a platform for trading only cryptocurrencies. The platform supports nine cryptocurrencies and several altcoins. There is unclear evidence that it is owned by Viabtc.
The exchange is known for fast transaction as a result of its multi process matching engine, it is capable of completing thousands of transactions in a second.

In terms of security, it uses advanced SSL protocol, multisignature wallet, 2 factor authentication and cold storage.

For Deposit and withdrawal methods, it accepts cryptocurrency and credit card. It Trading fees charges flat fees on takers and makers. It also charge 0.0015BTC on withdrawal.

However, there is a lot of negative report about the exchange. While some have queationed the true identify of the exchange, others acclaimed that withdrawal are poorly handled.

Users should do further research before using this Exchange

Pros & cons

It is licensed by UK govt

Does not offer margin Trading

Can process transaction speedily

Poor customer service

Withdrawal are poorly managed

No clear information about the owner

Does not support flat Currencies

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