CoinBene is a cryptocurrency exchange which is highly secure as well as trustworthy. This provide the users with a simple-to-use platform for crypto-to-crypto trading. As one of the largest cryptocurrency exchange, Coinbene exchange has a lot to desire. Here’s our review on CoinBene.
CoinBene Exchange Review
QUICK NAVIGATION :
- About CoinBene
- How to use CoinBene?
- Setup new Account
- How To Trade On CoinBene?
- Coinbene Fees
- Advantages and Disadvantages
- CoinBene CONI Token
Coinbene cryptocurrency exchange came into existence in Nov 20, 2017, and has headquarter in Singapore. With offices in South Korea, Brazil, Malaysia, India, Hong Kong and more. Coinbene cryptocurrency exchange is the world’s leading trustworthy crypto assets platform with different and famous coins, faster listing, and more gamification.
The cryptocurrency exchange offers several languages and is open to users all over the world, making it possible for most people to use the website in a fluent language, if not a native speaker. The default language is Chinese, but you can also change the website to Vietnamese, Malay, Spanish, English, Portuguese, or Korean.
How to use CoinBene?
CoinBene is designed to deliver the most important information users need to utilize the platform and follows the look of other similar exchanges such as Binance and Kucoin. The main menu consists of categories for the exchange, APP download, FAQ guide, and information about Coni. In the top right-hand corner, you find the options for logging in or registering for an account. In the extreme right you can change the language for the platform.
There are three different cryptocurrency pairs in three different tabs depending on whether they involve USDT, ETH, or BTC. Each row displays cryptocurrency name, symbol in a pair, last price, reference price, percent change, the change in numerals, the 24-hour trading volume (in the given cryptocurrency), and the operation (which is almost always “Trade”).
There is no option to change the view of the cryptocurrencies by price or change with other platforms, so you must view them in the order listed. However, there is a search function in the upper-right corner of the listings to make it easier to find your chosen pair. Click on any point of a crypto pair’s row you will be redirected to the exchange page to trade it.
How to setup New Account?
- Go to the official website and click the “sign up” tab on the upper right corner.
- You can register either with your email or mobile phone.
(a)The steps to sign up with mobile phone:
The default option is mobile phone. Select area code and provide your phone number, then set your login password and confirm the password-click “sign up”.
Pass the human-machine verification of the pop-up window.
Input the 6-digit code in the SMS you received and complete your registration.
(b)The steps to sign up with E-mail:
Select the option, E-mail, input your E-mail address-set your login password-confirm the password-click “sign up”, and pass the human-machine verification of the pop-up window.
You will receive an email for verifying your registered email as you click “sign up” . If you can not find the email, please check your spam box, or you can click the “resend” button of the pop-up window.
Click the link “E-mail verification” in your registered email to complete the verification.
How To Trade On CoinBene?
CoinBene exchange page is similar to other Exchange platforms. List of Cryptocurrency pairs will be displayed on the left side of the page, with USDT, ETH, or BTC . There are three columns displaying the value, the pair, and the percentage change.
At the centre of page , you will find the market chart for the cryptocurrency pair you have selected. You will see the current price, the reference price, the change in percent, and the 24-hour volume right above the graph. The graph is a candlestick chart with the ability to move over any point to view particular values for the open, high, low, and close, along with the specific date and time. You can change the time intervals from one day, week, or month. There are options to add or delete MACD, RSI, and KD. While for the trading strategy you can also add dozens of indicators to the chart to help you.
On the candlestick graph there is a settings button, which lets you change the style to bars, hollow candles, Heikin Ashi, line, or area charts. Overall you can adjust colors, borders, wicks, scale location, override minimum tick, scales, backgrounds, and time zones.
Below the candlestick graph, at the right you will see the form to buy or sell the cryptocurrency. BTC/USDT for buying BTC . Click on the buy button below and similarly for selling BTC, click on the sell button. you can also enter the quantity and price or choose to sell or buy a quarter, half, or all your crypto (USDT for buy and BTC for sell in this case). Below available balance is displayed. The amount is in USDT .
Above buy and sell forms, you will see recent orders, both for buy and sell. With the asking price and quantity listed in separate columns. Besides this, you can also view the most recently completed trades with the given cryptocurrency pair. On left, you can see your orders.
Note: There is a minimal trading fee of 0.1 percent in the quote currency per transaction.
Trading fees on CoinBene are applied only to trades, not orders. Coinbene adds fees to Maker/Taker based on the trading pairs used. The fees range from 0.1% to 0.3%. If the traders are using CONI, the fees will differ. The range for CONI traders is from 0.08% to 0.24%.
CoinBene Exchange Advantages
Different type of coins supported – Bitcoin, Ethereum and USDT (US Dollar Tether) are used in trading.
Extremely competitive fees – 0.10% of the transaction value is the charge for both makers and takers. This is much lower than the charges of trading as compared to some of the major exchanges. The standard charge is around 0.20-0.25%.
Zero transaction fees – There is no extra charge apart from the mining fees .
Coinbene Exchange Disadvantages
Fiat currencies not accepted – Coinbene does not allow credit cards, bank transfers or any other similar ways to transact in the world of crypto.
Very less information – While most of the companies in the cryptocurrency space are not regulated by any financial services agency, Coinbene does not provide any details. Specially, about the way they store the digital assets, or the team behind the project.
CoinBene gives the option of additional security via Google Authenticator. Download the application for Google Authenticator. Google Authenticator will create a six digit verification code. Remember that SMS verification code will expire in 10 minutes, so enter it as soon as possible. For email verification, code expires in 30 mins. Google Authenticator code expires in just 30 mins.
CoinBene CONI Token
CoinBene Token known as coni, is the crypto token of the exchange. There are multiple benefits for coni token holders. Every month and on weekly basis coni holders are awarded 40 percent of a platform’s net profit. Also, up to 70 percent discount for Coni Holders along with guaranteed deposit and listing vote is offered.
CoinBene being a newer exchange is listed 6th on CoinMarketCap with over $300 million in trade volume in such a short span of time. This is striking, and definitely down to their CONI token – Users will get 100 percent of their trading fees back in Coni. With a percentage of the exchange’s trading fees there are rewards for token holders.