The CoinBene exchange headquarters is based in Singapore with offices also in Hong Kong, Malaysia, India, Brazil, and more. The exchange launched on November 20, 2017, making its rapid rise to a consistent top 30 exchange by 24-hour trade volume an impressive feat. On CoinBene you can also participate in token sales which are also known as IEOs (initial exchange offerings). The latest IEO that was completed on CoinBene was PRIMPY, which ended 5 years ago. The most profitable token that launched on CoinBene is W12, which is currently trading at 0.01x higher than its token sale price (expressed in USD).
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Customer support is also available via email but many customer reviews online state that this type of support is slow to respond. This crypto exchange lists many coins and trades them with the basic pairs BTC, ETH, and USDT. Based on the pairs listed on the homepage, there are 50 pairs involving ETH, 31 involving USDT, and 24 involving BTC. When it comes to the plethora of assets available at CoinBene, the most known coins are Bitcoin, Bitcoin Cash, Ethereum, Ripple, Litecoin, and OmiseGO. However, some of the usual suspects, such as NEO, NEM, Cardano, Dash, Monero, IOTA, Stellar, and so on, are not present at this exchange. What sets CoinBene apart from many competitors is that you only have to pay mining fees when you withdraw your funds.
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These reports, for the most part, were only discussed on social media platforms like Twitter and Telegram but have yet to make an appearance on the cryptocurrency news circuit — until now. You will then see a deposit address, both listed out and as a QR code. Yes, CoinBene is 100% real with transparent features and low trading fees. Yet, the Singapore-based crypto asset platform has gotten into hot water. From accusations of unlicensed trading to sexual harassment charges.
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” and “Operations Guide Introducing“, can be found below the main navigation bar. Yes, CoinBene has some aspects (i.e. mobile app user experience and customer support quality) that need to be addressed. For people who are new to crypto or for those who would like to directly exchange between crypto and fiat, CoinBene is not the best option. However, if you already have cryptocurrency funds, CoinBene could certainly be a good option.
CoinBene Customer Support
CoinBene charge a flat 0.1% on trades made on their platform, the fees are charged in the trade currency. For example if you buy or sell Bitcoin with USDT, then they will collect this fee from both sides of the trade. They only charge the fee for completed trades, so if you placed an order which is not fully matched or you cancel part of it, the fees will only apply to the completed part. The website is designed in a manner that is easy to navigate and use.
They classified the debacle as a hack, reporting that a purported $105 million in cryptos had mysteriously ended up on other platforms during the alleged hack period. To ease consumer concerns, CoinBene claimed the platform was “undergoing maintenance.” However, this announcement didn’t set many minds at ease. The platform said that all funds are “100% secure” and promised that if any users lost funds, they’ll be compensate in full. DragonEx is believed to have lost over $1 million worth of cryptocurrency, while CoinBebe’s losses are estimated at over $45 million, according to industry observers.
However, there are some specific requirements for crypto coins to be listed on CoinBene, meeting which the users can list their coins on the exchange. Fees for trading cryptos are set at 0.1% across the board when using major trading pairs. This fee is significantly below the global industry average of 0.25%, which gives CoinBene a competitive advantage as low trading fees render the exchange more attractive to the average user. CoinBene is a cryptocurrency exchange that offers users a simple-to-use platform for crypto-to-crypto trading. In our CoinBene review, we look at this exchange’s advantages and disadvantages by examining a variety of categories that are important for any cryptocurrency trader to consider.
Users can also pay an even lower trading fee, which is possible if they hold a sufficient amount of Coni. It’s also important to note that fees are the same for market makers and takers. The website is designed simple https://turbo-tax.org/ enough and features the essential information users need to utilize the platform. In the main navigation bar, you can see categories for the exchange, download the APP, the guide FAQ, and information about Coni.
To find a reliable crypto exchange where you can start an account, check our most secure and biggest cryptocurrency exchange list, and we’ll help you to find the right platform. All these security procedures and verifications are necessary to curb fraud and secure the trader and the exchange. Coinbene have also been fair to their customers by offering a modern platform and eliminating deposit fees. They also have rewards for large token deposits and frequent trading. During signups, users provide their email and create a password.
When you enter the price in USDT and quantity in BTC (in this example), the amount in USDT is automatically displayed. CoinBene employs top-notch security mechanisms throughout its platforms- in both the web and mobile versions. Moreover, it has entered into robust technological coinbene united states partnerships with leading security giants like Komodo and McAfee to add an extra layer of security to protect clients’ money and funds. Komodo uses the proprietary technology called dPoW (delayed Proof of Work) that harnesses the security offered by various Bitcoin networks.
For instance, on Google Play, the Android app has an average of 2.7 out of 5 stars with 103 total reviews. Some reviewers claim the app is not compatible with Android 9 and/or that 2FA doesn’t work whenever they enter login details. Fees for trading cryptocurrencies are set at 0.1% across the board when using major trading pairs, which include USDT, BTC, and ETH. As of October 2018, there are 29 trading pairs for USDT, 75 for ETH, and 59 for BTC. The reason for excluding US-investors are primarily regulatory reasons.
Those that have good reviews are even rarer, and unfortunately, CoinBene isn’t an exception. Like many exchanges on the market, CoinBene has a native token that you can use to reduce trading fees. CoinBene’s Coni token (CONI) cuts trading fees in half, to only 0.05%.
If you don’t have this backup QR code or key, you can send CoinBene an email and describe the situation. The IT department will then close the Google Authenticator link to your account. At the time of writing, CoinBene specifically states to email if this occurs. Google Authenticator will create a verification code that is six digits long. Remember that SMS verification codes will expire in 10 minutes, while email verification codes expire in 30.
The exchange claims to have successfully prevented over 51% of cyber-attacks and brought in huge improvements in the overall security of the entire cryptocurrency ecosystem. There is an extensive list of cryptocurrency pairs on the CoinBene platform that includes leading currencies like USDT, ETH, or BTC. A CoinBene review claims that the exchange supports over 170 digital assets listed on the platform and available for trading.
Traders registered on the CoinBene platform can trade any of their preferred crypto pairs like BTC/USDT, LTC/USDT, ETH/USDT, ETH/BTC, BCH/USDT, LTC/BTC, etc. Traders need to deposit only cryptocurrencies to begin trading on CoinBene. The exchange is supported by a robust mobile app that is compatible with both Apple and Android devices and helps traders to trade on the go. The exchange’s website proves easy to navigate, and a mobile app supports it. The SEC’s Bitwise report, inter alia, mentioned Coinbene as the largest BTC exchange in the world with $480 million in daily volumes.
- To deposit funds into your CoinBene account, start by logging into your account.
- Still, CoinBene does offer a variety of customer support contact options.
- They spent 3 BTC when the contract with the exchange was signed.
- Right above the graph, you will see the current price, the reference price, the change in percent, and the 24-hour volume.
The platform has a dedicated section on the platform’s sidebar offering guidelines to the users on how to sign up on the platform. All these features render the CoinBene exchange user-friendly and thus allow it to gain a global standing in the crypto industry. The primary focus of every crypto trader is to achieve success and grow in the crypto world, and for that, they need to partner with a reliable exchange-services provider. The team behind the ARK ecosystem and cryptocurrency reported paying 5 BTC in CoinBene fees.
Leaders even stated that previous job postings for freelance cryptocurrency traders based in Germany were fake. Once you activate Google Authenticator, it sends a code to your device verifying the user. And 170+ of its digital assets are listed and available for trading. As previously reported, community members had been closely eyeing open blockchain transaction data records in light of their suspicions surrounding CoinBene. Crypptocurrency expert Nick Schteringard said on Twitter yesterday, that the hacker appears to have stolen roughly $6 million in Coinbene Coin and $39 million in Maximine Coin, which it later dumped on the market. The second cryptocurrency to have annonced a hack this week is CoinBebe, which admitted to being targeted by hackers earlier today in a tweet.
To withdraw money, users just need to follow the on-screen guidelines by clicking on the “Withdraw” button of their “Account page”. In April of the same year, members of the cryptocurrency community were up in arms for other reasons. Large volumes of cryptocurrency went missing from the exchange overnight. This event caused users to speculate that the exchange got hacked. Remember that cryptocurrency investors and traders participate in any number of unregulated transactions using consumers’ money. But this isn’t the first time that CoinBene’s been in hot water.
Just yesterday, Singapore-based cryptocurrency exchange DragonEx notified its users that it suffered a hack on March 24, the full details and scales of which are yet to emerge. Coinbene boldly writes that they are a secure and trustworthy cryptocurrency assets exchange. However, they did not state how they store the tokens or the security protocols they follow.
The first security step is to verify this email address entered. The second step is to enable the “Google Two-Factor Authentication” (2FA). This sends a code to the user phone whenever login is initiated using the Google Authenticator app. Before, you can withdraw; you must complete the KYC verification. This is done by uploading a valid government-issued identity card such as a driving license or international passport. A web-based trading platform is available, and it is visually appealing.
