Review of the Coinex Trading Platform
Coinex Trading Platform is a cryptocurrency exchange that claims to assist investors in managing their crypto assets.
Cryptocurrency trading has become a lucrative business that everyone wants to get into as a way to earn a passive income. However, because of the unpredictability involved, you should exercise caution before trading.
The underlying mechanism, blockchain technology, has contributed to the creation of an unregulated healthy environment for cryptocurrencies. The market, however, is rife with con artists.
I conducted some research to ensure that Coinex TP is not a scam, and this is what I discovered.
Cryptocurrency trading has become a lucrative business that everyone wants to get into as a way to earn a passive income. However, because of the unpredictability involved, you should exercise caution before trading.
The underlying mechanism, blockchain technology, has contributed to the creation of an unregulated healthy environment for cryptocurrencies. The market, however, is rife with con artists.
I conducted some research to ensure that Coinex TP is not a scam, and this is what I discovered.
What Exactly Is the Coinex Trading Platform?
Coinex Trading Platform was founded by like-minded professional traders who saw an opportunity in the market and wanted to have a cryptocurrency exchange, according to their official website.
I should point out that "Coinex Trading Platform" or "Coinex TP" (which we are discussing here) should not be confused with "Coinex." They are two distinct entities. The Coinex TP website can be found at Coinex website, which is located at coinex.com:
Coinex TP claims to be a UK-based entity with the primary goal of collaborating with other analytic agencies to obtain valuable data on future investment opportunities. They also claim to have an impressive success rate on exchange deals, with nine out of ten deals being winners.
Bitcoin and other cryptocurrencies were popular in 2017. rose exponentially, which resulted in the current popularity of cryptocurrency trading. There are numerous cryptos on the market today, including Ethereum, Litecoin, Dogecoin, and Ripple.
Making extra money is a wise financial decision, and investing in digital assets is one way to do so. I searched the internet and discovered hundreds of companies that offer digital currency exchanges, including the Coinex TP. Bitcoin Frontiers and Crypto Coin Sniper are two similar games.
Coinex TP positions itself as a trustworthy cryptocurrency trading platform. They also claim that the company has a legal license in accordance with European law and that it is a member of the Enterprise Ethereum Alliance.
The company's website interface is user-friendly and simple to use, but it is missing some critical information. Furthermore, there is a demo video available on their website that provides an overview of Coinex TP.
Let's look at some of the advantages of becoming a potential user of Coinex trade platform ltd all over the world.
Products on the Coinex Trading Platform
Coinex TP specializes in a wide variety of cryptocurrency exchanges with diverse trading pairs, where they trade on behalf of users worldwide for a fee known as trading fees. Perpetual contracts, mining, and margin trading are also activities.
Coinex TP users are also encouraged to recruit new users and open accounts in order to earn a percentage commission through the affiliate program. Both the company and the user benefit from this marketing strategy. The company receives free publicity, while the users earn money. Later in this review, we will go over the various levels an investor can reach.
Products on the Coinex Trading Platform
Coinex TP specializes in a wide variety of cryptocurrency exchanges with diverse trading pairs, where they trade on behalf of users worldwide for a fee known as trading fees. Perpetual contracts, mining, and margin trading are also activities.
Coinex TP users are also encouraged to recruit new users and open accounts in order to earn a percentage commission through the affiliate program. Both the company and the user benefit from this marketing strategy. The company receives free publicity, while the users earn money. Later in this review, we will go over the various levels an investor can reach.
The issue is that there is very little information available about Paul on the internet. This is problematic because you should know who you are entrusting your money to. This is a warning sign.
Packages for Investing
Coinex TP generally accepts clients starting with $10 to invest in one of their eight plan packages. The profit line grows in proportion to the length of time a client chooses to invest and the amount of money raised. The following is a breakdown of these packages and their associated returns:
Plan 1
Invest $10 or more & receive 120% after 1 day
Plan 2
Invest $10 or more and receive 210% after 5 days
Plan 3
Invest $10 or more and receive 800% after 30 days
Plan 4
Invest $10 or more and receive 2,300% after 90 days
Plan 5
Invest $10 or more and receive 4,600% after 180 days
Plan 6
Invest $10 or more and receive 10,000 % after 360 days
Plan 7
Invest $10 or more and receive 15,500 % after 540 days
Plan 8
Invest $10 or more and receive 24,000 % after 720 days
If you invest $10,000 in Plan 7, you could profit $230,000 on your initial investment.
How Does the Coinex Trading Platform Work?
To open a free Coinex exchange account, navigate to the "private client section" and enter your personal information, which should only take a few minutes.
After you register, you will receive an email confirming that your account has been successfully created. The email contains information such as your password and username. For security reasons, do not share this information with anyone.
Following that, you can fund your account with any of the accepted cryptocurrencies to gain access to the investment plan of your choice. Your account balance will have changed.
To begin, select one of the six investment packages available. The experts will then evaluate the market and trade on your behalf.
Profits are directly credited to your account after your investment period expires, and you can withdraw them at any time (processing time is one day or less).
Affiliate Compensation Plan
You can enroll others in the program, and the platform provides tools to help you do so. Typically, most representatives use financial material published on social networks, blogs, and business forums online to attract new customers.
This program's primary goal, in my opinion, is to attract new investors. You earn a percentage of the deposit made by investors who you refer to the platform.
Here's how it works:
Level 1- $5000 – $10,000 earn 1% from investment amount of your affiliate
Level 2-$10,001 – $50,000 earn 3% from investment amount of your affiliate
Level 3-$50,001 – $100,000 earn 5% from investment amount of your affiliate
Level 4- $100,001 – $500,000 earn 7% from investment amount of your affiliate
Level 5 -$500,001 – $1,000,000 earn 10% from investment amount of your affiliate
You can also earn more from the referral program by unlocking three additional levels known as the Coinex smart chain campaign.
On Level 1, a representative receives 10% of the deposits made by each investor they bring in. Level 2 is attained when representatives bring in new investors and invite new investors. These are referred to as second-level investors. In this case, the representative receives 7% of all deposits. Third-level investors automatically receive a 7% commission on deposits made to their representatives
Reserve Fund and Insurance
The risks associated with crypto spot trading are numerous and are frequently influenced by uncontrollable factors. I mentioned earlier that Coinex TP has insurance and a reserve fund to help with unforeseen bad situations. Unfortunately, they do not demonstrate how the insurance works, which makes me doubt its legitimacy.
I won't speculate on why they lack this critical information to back up their claims, but this should serve as a scam warning.
Accepted payment methods
To begin, you must have an account with one of the popular electronic payment systems, such as bitcoin, in order to deposit on the site. You can make withdrawals and deposits at any time if you have an existing working account for cryptocurrencies such as Bitcoin, Bitcoin Cash, Bitcoin Gold, Ethereum, DASH, Litecoin, Dogecoin, Payeer, and Perfect Money
Payments on completed transactions are processed twice daily, while withdrawals are processed within 24 hours. There is a disclaimer, however, stating that there may be delays in processing these transactions. The minimum amount that can be withdrawn is $0.10. The maximum is indefinite.
Is the Coinex Trading Platform Trustworthy?
The Coinex Trading Platform is NOT a legitimate company. I discovered a few things about Coinex TP during my research that indicate it is not what it claims to be.
First, Coinex TP claims to have been trading in the cryptocurrency exchange market for over two years. This is a false claim because the platform makes no investments.
Second, Coinex TP's official website lacks critical information such as their team's professional credentials (portfolios), contact information, and how it trades.
Third, there is no documentation to show whether they operate in accordance with European laws, as they claim. The site also contains numerous spelling errors, indicating a lack of professionalism.
Customer Feedback
I read online comments from previous global users and discovered some damning negative feedback. Some Coinex users had issues making deposits or withdrawals, while others lost money under mysterious circumstances.
This should serve as a warning to those looking for a crypto trading online platform to get started trading. A few customers from around the world were pleased with their services, with claims of earning a consistent income from Coinex TP, but these could always be paid-for reviews.
Verdict on the Coinex Trading Platform
Based on the customer reviews I was able to access, Coinex TP is a mixed bag of surprises. Coinex is speculating that external factors will have no effect on projected returns on investments, which is false.
It is worth noting that any company in this market should not promise investors consistent daily returns. In general, these statements are intended to entice people to join.
Scammers in this industry have come up with inventive new ways to defraud unsuspecting people out of their money. Due to the high demand for crypto exchanges, various exchanges are devising new strategies to attract gullible investors.
Other exchanges, such as Coinbase, should be used by investors looking for genuine services. The bottom line is that if an online company promises market returns while running a referral program, you should be skeptical.
Finally, trading in cryptos has advantages and disadvantages, so only use the best exchanges to reduce the risk of losing money in the future.