CoinExchange is this a scam? Review and Customers Reviews

Cryptocurrency exchange CoinExchange is a contemporary platform stably serving different operations (deposit/withdrawal, transfers, wallet keeping) using over 500 kinds of tokens, among which are both main (Bitcoin, Ethereum, Litecoin) and rear currencies (Accelerator, Argo, BitCrownCoin, CACHeCoin, E-Coin, Flash, Mbit etc.).

And yet, is CoinExchange a scam, prank or a proven and safe service, where any trader can easily trade cryptocurrency and withdraw the gained money quickly? Will try to answer these questions in our exchange review.

The platform CoinExchange was founded in 2016. The main focus of the platform operation declared on the home page of the website is the service safety, quality customer support, variety of tokens for trading (read the full truth about cryptocurrency here). The exchange is developing continuously, updates and enhance its tools with new options for traders.

Upon further acquaintance with CoinExchange website some positive aspects are worth noting: maximal simplicity and laconism of elements, sexy and user friendly interface (with day and night chart display options), useful information, which works for newcomers, too. The service suits well both for experienced traders and newcomers. The platform supports just English language yet, this complicates trading from different countries. And yet it doesn’t disturb the exchange from performing exiting figures in amount of business, which make a bit over 11 000 000 USD.

The main advantage of CoinExchange before competitors is the huge amount of token and Altcoins for trading. Here you can find both main and popular, and even rare tokens. In the personal account there are over 550 cryptocurrencies available now. Fiat money for purchase/sale aren’t available, neither for deposit/withdrawal. The platform developers suggest using exterior services and exchange dollars, euro or other currency into tokens and only then start trading with the exchange. To start trading with CoinExchange you need just to sign up (usual procedure with confirmation through e-mail). You shall remember that you need to keep several e-mail addresses in different services, as the system doesn’t pass through all the addresses (for example you won’t manage signing up with yandex mail). You don’t need verification for trading, which is logical since there are no transactions with fiat money available.

There is the full list of cryptocurrency on CoinExchange  website, after the registration you can execute transactions with 6 main token (Litecoin, Bitcoin, Dogecoin, Ethereum Classic и Ethereum). The most popular couples are REC/BTC, ETH/BTC, SIC/BTC, ETG/BTC, ELIX/BTC. There is the performance chart available on the website with period settings, color and candle sticks display choice, blocks with orders, lists of transactions completed, updating online. Also there are the news from Twitter on the platform, online chat for traders in English, the list of tokens available for trading, under the tab «Markets», recently deleted and added cryptocurrencies. On other pages of the resource there is the information about commissions, FAQ, deposit/withdrawal, online feedback form for commincation with the customer service. There is the great volume of data for analytics on the website, affiliate program providing payouts up to 5% of the transaction sum of traders attracted to the platform.

Deposit and withdrawal

The main focus crypto exchange developers set on the variety of the currencies available, both main and rare (for example, Bitcoin, Zcash, Litecoin, Ethereum, TigerCoin, Solar, Powercoin, Fujinto, Antimatters etc.). There are over 550 currencies in total and there are more coming continuously. As the platform does not support fiat money, the deposit may be done by digital assets. For that after the registration of your personal account you need to go to the tab «Balances». There you choose tokens you want to add to your account, from the list in the right column of the sheet, you can use search for ease. After you found the token you need, press «Action» button and choose «Deposit» from the options suggested. Then the system generates automatically the address of your crypto wallet on the exchange, where transfers will be executed. If the credit transfer took over 30 minutes or the funds didn’t appear on the account, don’t hesitate to apply to the customer support. Mostly the deposit takes less than 10 minutes.

There is the certain deposit limit on the platform. If you are a beginning trader and didn’t yet manage to purchase the digital currency (read here how to get quite a profit on crptocurrency) for trading on CoinExchange, we recommend you to use external proven services for purchasing tokens and then transfer them to exchange. As you may imagine, there is no need of verification with such operation process, but the company representatives encourage for adjusting the strong authentication for the account. It’s worth noting that CoinExchange can be used as multicurrency crypto wallet supporting the huge amount of tokens, transferring the balance to other wallets quickly.

For withdrawal you need to go to the «Withdraw» tab. In the form there you set the withdrawal sum, wallet address and enter the password. You have to confirm the transfer following the link you find in your e-mail. The transaction commission depends on the cryptocurrency and changes occasionally. If you balked at transferring the funds, the transaction can always be cancelled, with the same process of confirmation through the ling in your e-mail. There are no withdrawal restrictions with this exchange, which is the reason of users’ joy.

Complaints against Coinexchange

CoinExchange fully matches up to the advantages described on the website: focus on safety, impressive number of cryptocurrencies, quick feedback from the customer support and advanced tools for traders. Here is lots of tokens available: for 2 years the platform nearly doubled their list and keeps it being extended. The trader can find main and rare tokens and make a suggestion for currency adding trough the customer support. The trade volume is increasing fast, now it’s just about to reach 11 million dollars, which positively effects the currency liquidity (especially the main ones – Bitcoin and Ethereum).

Talking the platform advantages we point the simple and user friendly personal account, well done pages with trading information, online charter of market moods, along with small commissions for transactions, quick withdrawal and deposit, no need of verification. With plenty of feedback about CoinExchange some issues about its operation come up, too. The first disadvantage is the website is in one language (English), only. But this issue may be cleared with online translator. The exchange doesn’t support fiat money, so if you want to deposit dollars or euro, you have to purchase cryptocurrency, at that by external service. The links to the proven platform are available right here. It certainly complicates the collaboration among companies, and yet, traders don’t need to go through the verification due to this.

Some users don’t like the look of the lack of the information about developers and executive management of the company. Indeed, you can’t find on the website the information about the foundation location, headquarters of the resource and so on. At that it effect no way the CoinExchange activities. Users point some faults in interface. It may seem first, that the design of the website is too simple and minimalistic, but after detailed lore into the platform services you get it clear, that the main focus here is not trading, but visual effects. The long feedback from the customer support also draws disfavor of users, this happens because of a great number o traders served. And yet you should remember that for all the time of the platform operation no e-mail was left with no response.

CoinExchange regulation

Since there are no legal information in internet about CoinExchange, we can’t say which country the headquarters of the platform is located in and who is the founder of the exchange. But this doesn’t disturb the platform from protecting its users at its best, their funds and data from hacking. For this, you need to set in your personal account the two factor (strong) authentication, through the applications Google (Authenticator) – not only for entering the personal account, but also for completion any of transactions available here. All assets of traders are on cold accounts. On the run are only the tokens you work on at the given moment. The detailed information on the platform operation rules you can find clicking the tab  «Service conditions».

Check «Service conditions» on CoinExchange website

Is CoinExchange a scam?

CoinExchange was created just 2 years ago, but still keeps being a welcome surprise for registered users and attract new traders by extending its services and enlarging the list of tokens available for trading. Despite of its yet short operation period the platform managed to meet the eye and gain confidence of experienced and beginning traders, which becomes clear from the great number of positive feedback about the platform. There is no surprise though as this platform is one of the few offering trading over 500 cryptocurrencies (check this the latest cryptocurrency forecast 2018), at that it strives to keep this list growing. Adding new currencies happens here very quickly, any user can send a request to the customer support about next token disposition. Please note that there were just 300 digital assets by the moment of trading start on this platform.

The motivation to grow and attract traders is clear apart from that: the website services are enhanced continuously, the currency deposit/withdrawal commission is minimal; no mandatory verification for users; the trading funds are secured through the strong authentication and cold storages. You will fully realize the comfort of working with the website interface right after the registration: the trading moods data updated every other second, there is the option to set the color of the chart displaying, the online chat for the communication with other traders is available and used regularly. The service offers a profitable affiliate program. There are some issues I Internet concerning the platform, too: there is no information the country of the platform registration under the tab «About company», neither there is the information about the exchange owners, apart from this the resource supports just English language.

Can we call CoinExchange a scam, prank and fool’s bargain? We answer with the absolute no! the platform gained the stable image of the reliable company of middle class. This happened due to the huge number of factors mentioned above: simple and functional website with convenient personal account, the latest information for trading updated online, maximal security level for users, small commissions and plenty of positive feedback about the platform from experienced traders and newcomers.

Conclusion

Generally, CoinExchange is a contemporary platform for smooth trading cryptocurrency, getting profit and withdrawing funds with no delays. The platform started operating in  2016 and now offers over 500 cryptocurrencies for trading. The daily trade volume reaches 11 million dollars, these figures prove the stable position of Coinexchange in the market along with its motivation to grow better than any other facts. No need of verification, low deposit and withdrawal commissions, high security level, user friendly platform services – all this confirms the commitment of the company to take the dominant position over competitors and keep effective operation on the cryptocurrency market.

The editorial staff of FraudBroker.com project doesn’t consider CoinExchange as a prank and scam. Yet we would like to know the opinion of the users. Your real feedback about the platform will help to get the fair view of the company informing traders interested about the possible issues with the exchange and correcting its service position in our rating.