Coinw Cryptocurrency Exchange Review : Pros & Cons

About Coinw Exchange

Coinw Exchange is a Singapore-based digital asset trading platform, providing transaction services of BTC, ETH, HC and other mainstream cryptocurrencies to users all over the globe. When a user operate Exchange trading in CoinW, the platform will charge a certain fee from the user to support the platform operation. The handling fee of maker and taker on the platform will be charged according to different rules.

The current basic fee of maker and taker is 0.2%. The order entrusted by the user is not immediately traded with the dealer’s order, but is pending on the order list, waiting for the dealer’s order to trade. The order immediately executed by the user is successfully filled with the same or better price of the dealer’s order. Bank level risk control, global compliance layout. Ultra high performance matching, sufficient liquidity.

Information Table

How To Register At Coinw Exchange ?

To register on Coinw, click Register Now button at the top of the page. You can also start creating an account directly through.

You only need to enter your e-mail and come up with a password. If there is a referral code, it is also entered at this stage. Password requirements: at least 8 characters, numbers, upper and lower case.

Click ” Create Account ” then go to your email to verify it. Enter the code you received and registration is complete. You can start replenishing your account.

How To Verify Your Coinw Account ?

There is no mandatory verification at Polyx , but you can pass it if you wish. At the moment, the only restriction imposed on unverified users is the withdrawal Fee of 0.0004  per day. In the future, depending on the actions of regulatory authorities, conditions may change.

For verification, you can use one of four documents to choose from: passport, driver’s license, identity card or residence permit. Artificial intelligence is used to evaluate the authenticity of documents. This service is provided by the Onfido online identification service, already used by the Bitstamp, Revolut platforms.

How To Buy Crypto Or Deposit Crypto At Coinw Crypto Exchange ?

There are two main options for topping up your balance on Coinw Exchange. Firstly, you can buy cryptocurrency with a bank card – it’s fast and convenient. Go to the ” Buy crypto ” -> ” Buy crypto with a credit card ” section.

Choose a cryptocurrency (currently there are 13 coins available for purchase in this way). Enter the amount and select the fiat currency to be used for payment.

Agree to the terms and confirm the transition to the site of the payment provider. Enter information about the card and its owner, confirm the transaction. Cryptocurrency will be credited to the exchange account within a few minutes.

Second Method

You can transfer digital assets to the balance of the exchange from any external crypto wallet. For this:

• Go to the “Deposit” section from the “Assets” menu.

• From the drop-down list, you can select the cryptocurrency you want to deposit into your account.
• The wallet address will appear. You need to copy it and send funds to it from another wallet or exchange. Please note that only bitcoin can be sent to bitcoin addresses, similarly with other coins.
• You can also click “Show QR code” – for transfers from a mobile wallet, this is a more convenient option.

How To Withdraw Crypto Asset From Coinw Exchange ?

Having completed all the necessary trading operations, it’s time to withdraw the received assets to an external wallet. Go to ” Assets ” -> ” Withdraw “. Please note that the operation is only available after enabling two-factor authentication in the settings. This is for added security and requires less than a minute, so don’t neglect this measure.

Select a cryptocurrency and enter the withdrawal amount. Each coin has its own withdrawal fee, for example, for BTC it is 0.00057 BTC. Click ” Output “. By default, the exchange processes applications three times a day, however, hourly withdrawals are available for Premium users. Also, the time of receipt of the cryptocurrency is affected by the workload of the blockchain network.

How To Secure Your Coinw Account ?

Also remember to go to the Security tab and activate two-factor authentication using the Google Authenticator app.

CoinW Commissions & Fees

At the start, for takers and makers, the trading fee is 0.2% of the transaction amount. The fee reduces as the trading volume increases. The trading volume in CWT (the exchange’s own token) is calculated based on transactions made within the last 30 days. For instance, if a trader gets over 2 680 CWT in a month, his fee will be 0.12%, and if his trading volume is 86 800 CWT or more, then the fee will be just 0.01%

The CoinW exchange has only one account type and doesn’t offer demo or premium accounts. There are no charges for deposits, although they may be collected by external services. Withdrawal fees depend on the asset type. For example, for Litecoin, the withdrawal fee is 0.019 LTC, and for Monero, it’s 0.012 XMR. The table below contains data on three competing exchanges that clearly show how favorable CoinW’s fees are.

Features Of CoinW Crypto Exchange

KYC/AML

CoinW, just like the absolute majority of the crypto exchanges, requires its users to complete KYC to deposit or withdraw fiat. However, for crypto-to-crypto transactions, there is no such requirement. Therefore, users can deposit, trade, and withdraw their crypto without any kind of identification. Also, considering that CoinW features privacy coins, it is possible to use the exchange anonymously.

Customer Support

CoinW provides 24/7 customer support to assist users with any questions or concerns they may have.

Security

CoinW implements a range of security measures to protect user accounts, including two-factor authentication, encryption, and secure storage of funds in cold wallets.

Trading Tools

The platform provides advanced trading tools, such as limit and market orders, stop loss orders, and margin trading, to help users make informed trading decisions.

Mobile App

CoinW offers a mobile app that allows users to access the platform and trade on the go.

CoinW’s affiliate program

Every registered trader receives a unique referral link that he can use to invite other traders. An invited user gets a one-time payment of 500 USDT and brings 1 USDT to the link’s owner with every transaction by the invitee.

Conclusion

CoinW is a platform specifically for users to conduct digital asset transactions and provide related services (hereinafter referred to as “the service” or “service”). For the convenience of expression in this agreement, the company and this website collectively use “we” or other first-person pronouns in this agreement. As long as the natural persons or other subjects who log in to this website are all users of this website, this agreement uses “you” or other second-person pronouns below for the convenience of expression.