What is CoinW Exchange?

CoinW cryptocurrency exchange platform was established in 2017. The current CEO is Bai Mingguo. The exchange is reportedly registered in the British Virgin Islands and has a presence in the USA, Hong Kong, Singapore, Middle East, and many other jurisdictions, serving clients from all over the world. 

CoinW claims to have more than 7 million users worldwide and it is said to hold a MSB financial licence in the USA, a MAS licence in Singapore, a SVG FSA licence, an Abu Dhabi FSRA financial licence and other financial regulatory licences. The platform supports over hundreds of currencies and trading pairs. 

The CoinW team apparently has technical experience working for entities such as Alibaba, Oracle, and Google. The focus of the team is mainly on providing top-tier products and best-in-class services that crypto users need. CoinW provides its users with spot trading, contract trading, ETF & OTC trading, interest-bearing products and much more. The company also has a venture capital and a research arm of the business. 

The CoinW crypto trading app is available on Google Play and App Store. 

Buying crypto i.e. USDT on CoinW is possible with many fiat currencies including USD, GDP, EUR, and others. 

Users can also deposit crypto to trade or use their balances from the crypto that they purchase using a Visa credit/debit card. CoinW offers crypto swaps, spot, leveraged ETF and futures trading. 

Advantages of Using CoinW Exchange

Users can earn up to 40% rebates on referrals.

• CoinW offers bonuses to incentivize users to trade especially when using leverage. 

• The exchange has a zero transaction fee for trading coins on the spot market.

• CoinW has local trading service centres that are located in different countries and the platform supports several languages including Chinese, Korean and English.

• CoinW also offers copy trading for novice traders who may wish to follow trades of more experienced traders. 

• CoinW Earn allows users to stake cryptos and earn interest and it also offers flexible savings and hybrid financing options. 

• The exchange does decent trading volumes. 

• CoinW is trying to contribute to the growth of the crypto ecosystem by partnering with other entities and providing funding for blockchain projects which signals a long-term vision. 

Fees on CoinW Exchange

CoinW exchange makes revenues to support platform operations by charging fees for its various services. When a user trades on CoinW, the platform will charge a certain fee from the user. Maker and Taker handling fees are charged according to different rules, however, the current basic fee of maker and taker is 0.2%.

Disadvantages of Using CoinW

• CoinW although having launched earlier than some of the giants in the industry e.g. FTX, it is still relatively unknown. In addition, there are numerous other platforms that could be considered more reputable and also that perhaps offer more sophisticated products, more trading pairs, better liquidity and digital asset options. Some of CoinW’s competitors include Binance, OKX, KuCoin, among others. 

• CoinW doesn’t have a lot of independent reviews. 

Conclusion

CoinW appears to be a functional exchange which has not experienced any hacks or been involved in controversial practices publicly. It is still important for all users of any crypto exchange platform to do proper due diligence before using their preferred platform. 

Originally published on Decentralised News

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