|Brief||CoinBene, one of the top 10 cryptocurrency exchanges by trading volume, is available in a 150+ countries and in various languages, including English. This leading crypto asset platform is based in Singapore...|
|Last updated:||Friday, March 5, 2021 3:00:03PM UTC|
|Volume 24 hours, USD:||3 033 018 411|
General CoinBene facts, technical details and general information about CoinBene exchange
CoinBene, one of the top 10 cryptocurrency exchanges by trading volume, is available in a 150+ countries and in various languages, including English. This leading crypto asset platform is based in Singapore. It serves the crypto community via 192 markets. A CoinBene exchange review shows that there are 170+ digital assets listed and available for trading. CoinBene is a centralized cryptocurrency exchange that operates under the auspices of CoinBene Limited, a company registered in Vanuatu as a provider of website services, as per platform’s official terms of service. However, some sources claim that this platform actually operates in Singapore, which has long become a Mecca for Asian blockchain startups and emerging crypto exchanges.
Even though the platform was officially launched not that long ago, at the tail end of 2018, to be precise, it has already gathered massive traction and earned itself a place in the CoinMarketCap Top 10 by both adjusted and reported trading volume. Those volumes are indeed impressive and amount to around $900 million on a daily basis, which consequently accumulates to the respectful monthly output of $24 million. This means that liquidity is hardly an issue for CoinBene, supplemented by the reports of an ever-increasing number of active daily users.
CoinBene seems to take a proactive approach when it comes to security. For example, a series of 51% attacks elsewhere has prompted them to act. A CoinBene exchange review reveals that they have signed a strategic technology partnership with Komodo. This was done to prevent 51% attacks and improve overall security of the crypto ecosystem. This is done through the implementation of parts of what Komodo has to offer in terms of security. Komodo is a blockchain-based platform that provides security, scalability, interoperability and adaptability. The latter uses proprietary technology called delayed Proof of Work (dPoW) that makes it possible to harness the security offered by the Bitcoin network.
The platform contains three major markets: BTC, ETH, and USDT, which include more than 70 different cryptocurrencies, both well-established and fledgling ones, that together create over 200 trading pairs, enough to satisfy even the most fastidious traders. Unlike the majority of cryptocurrency exchanges, CoinBene doesn’t impose a flat fee on trading operations. Instead, every cryptocurrency has its own trading free, which ranges from 0.1% to 0.3% for takers as well as makers. Since having an own token is a must for any popular exchange platform, CoinBene introduced a proprietary ERC-20 token CONI which can be used for trading purposes or to get the substantially discounted trading fees. It must also be brought to the attention that these fees concern only spot trading while the exchange also features the contract trading, which provides for a totally different fee allocation for the eight classes of VIP accounts. For instance, the VIP 1 account, which puts up a monthly trading volume of no more than 10 BTC, is subject to 0.006% taker fee while the maker gets -0.005%. There is no deposit fee, of course, and the withdrawal commission is the industry average 0.0005 BTC. All deposits must be made only in cryptocurrency.
CoinBene supports a flat trading fee of 0.10%, which is significantly below the global industry average of 0.25%. This gives CoinBene a competitive advantage as low trading fees render the exchange more attractive to the average user. Fiat-crypto trading is not available on this platform, hence new cryptocurrency investors will have a more difficult time trading on this exchange.The interface of CoinBene’s website is relatively easy to use, and it features multiple language options, such as Chinese, English, Vietnamese, Portuguese, Spanish, Malay and Korean.
The website is designed in a manner simple enough for any user to navigate it easily. The exchange is also supported by a mobile app, for those who prefer to trade on the go. It is very easy to sign up for the platform, as there is a guideline taking the user through the sign-up process on the platform’s sidebar. All of these features render the exchange user-friendly and allow for CoinBene to gain a global standing in the industry.Additional security is provided with the use of Google Authenticator, which can be downloaded both on your laptop and your mobile. Once activated, Google Authenticator will send a code to your device to verify that it is indeed the user itself who is trying to access the account.
One of the biggest disadvantages that the exchange has is regarding its transparency. There is not much information about the team behind the exchange on the internet, including their own website. Since their website is quite simple, it does not contain any information regarding the people behind CoinBene. Though there haven’t been any significant problems concerning CoinBene’s security, the fact that there isn’t any transparency could lead to certain problems in the future.
Apart from contract and spot trading, CoinBene affords several other opportunities for profit-making, such as margin trading with 5:1 leverage on several USDT markets, as well as Over-the-Counter trading and Call & Put options trading. In addition, the platform allows users to engage in the contract mining of CFT tokens that constitute an essential element of the CoinBene ecosystem and is tradable against CFT. Although CoinBene can’t be considered as a novice-friendly platform, it does have a mobile application with a more intuitive interface.
|CoinBene volume change 24 hours||0.81%|
|Exchange||Volume change, 24h|