Coinflex.com Review: It Is Safe Or Legit ?

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About Coinflex.com

Coinflex.com is a cryptocurrency exchange registered in the Seychelles. It has been active since 2019. CoinFLEX is an exchange spun off from Coinfloor and was co-founded by Mark and Sudhu. The platform is most known for having launched the world’s first physically delivered crypto futures exchange, being the first exchange to launch crypto spreads and repo markets that are allowing people to capture yield and perpetual traders to take delivery. The platform recently launched flexUSD, an interest yield bearing stablecoin, and PNT (promissory note tokens) tokenizing CoinFLEX is a cryptocurrency exchange registered in the Seychelles.

It has been active since 2019. CoinFLEX is an exchange spun off from Coinfloor and was co-founded by Mark and Sudhu. The platform is most known for having launched the world’s first physically delivered crypto futures exchange, being the first exchange to launch crypto spreads and repo markets that are allowing people to capture yield and perpetual traders to take delivery. The platform recently launched flexUSD, an interest yield bearing stablecoin, and PNT (promissory note tokens) tokenizing uncollateralized debt for trading firms. debt for trading firms.

Operating Company 

Exchange NameCoinflex.com
Support24/7
LanguageEnglish
Deposit FeeFree
Taker Fee0.10%
Maker Fee0.05%
Official SiteHomepage

How To  Start With Coinflex.com Exchange

To Start Trading With Coinflex.com Exchange Indian Residents First Have To Sign Up For An Account By Following The Steps Below.

Step 1. Click On The “Login/Signup” Link On The Top Right Hand Corner Of The Coinflex.com Website.

Step 2. In The Form, Fill In Your First Name, Last Name, Mobile Number, Email ID And Password.

Step 3. If You Have A Referral Code, Enter The Code While Creating Your Account.

Step 4. Submit The Form And Wait For An Activation Email To Be Sent To You.

Step 5. Click On The “Confirm Email” Link In The Activation Email.

Step 6. After Your Account Is Activated, You’ll Be Sent A 6 Digit One Time Password (OTP), Which You Have To Enter After Logging Into Your Coinflex.com .

CoinFLEX Trading fees

Every time you place an order, the exchange charges you a trading fee. The trading fee is normally a percentage of the value of the trade order. Many exchanges divide between takers and makers. Takers are the one who “take” an existing order from the order book. Makers are the ones who add orders to the order book, thereby making liquidity at the platform.

This platform charges takers 0.10% per trade on the spot market, which is quite in line with industry average for the newer modern exchanges. However, according to the biggest study ever performed on crypto exchange trading fees, the industry average taker fee was found to be 0.213%. So in comparison with that, CoinFLEX is far below industry average. Makers receive a 50% discount on their trading fees compared to takers and only pay 0.05% on the spot market. The corresponding figures for contracts trading are 0.06% for takers and -0.02% for makers. These fees are also discounted even further if you hold FLEX-tokens, the exchange’s native token, as follow:

Coinflex.com Review: It Is Safe Or Legit ?

CoinFLEX Withdrawal fees

Withdrawal fees are usually fixed and vary from crypto-to-crypto. If you withdraw BTC, you pay a small amount of BTC for the withdrawal. If you withdraw ETH, you pay ETH. The last time they did an empirical study of the BTC-withdrawal fees in the crypto exchange market, they found that the average BTC-withdrawal fee was approx. 0.0006 BTC per BTC-withdrawal.

CoinFLEX doesn’t charge anything for crypto withdrawals, but not only that, they also cover the network fees involved when making a withdrawal. This is actually quite unusual. Many exchanges say “they don’t charge any withdrawal fees”, but the user still has to pay network fees to the miners processing the withdrawal.

Deposit Methods

In order to trade here, you must have cryptocurrency to begin with. The only asset class you can deposit to Coinflex.com is cryptocurrency. However, if you really like CoinFLEX but you don’t have any crypto yet, you can easily start an account with an exchange that has “fiat on-ramps” (an exchange where you can deposit regular cash), buy crypto there, and then transfer it from such exchange to this exchange. 

Supported Countries

All countries except: Afghanistan, Central African Republic, Chad, Congo Dem. Rep., Congo Rep., Cuba, Eritrea, Ethiopia, Iran, Korea, North, Libya, Myanmar, Nigeria, Québec (Province), Sierra Leone, Somalia, South Sudan, Sudan, Syria, United States, United States Minor Outlying Islands, Yemen.

Customer Support at CoinFLEX

Firstly, the platform provides an extensive FAQ section. It has all the questions and details regarding trading, products, user Interface, technicalities, and many more. Secondly, It has an internal ticket system along with email support. Lastly, it has an immediate customer support solution. The team is accessible on Twitter, Telegram, and LinkedIn.

Disclaimer:

Not All The Websites Which Listed In Top List Are 100% Safe To Use Or Investment. We Do Not Promote Any Of Those. Due Diligence Is Your Own Responsibility. You Should Never Make An Investment In An Online Program With Money You Aren’t Prepared To Lose. Make Sure To Research The Website. So Please Take Care Of Your Investments. And Be On The Safe Site And Avoid Much Losing Online.

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