|Brief||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.|
|Last updated:||Thursday, August 6, 2020 12:00:06PM UTC|
|Volume 24 hours, USD:||1 266 629 450|
General CoinBene facts, technical details and general information about CoinBene exchange
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.
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.
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.
Author: Alex Paulson for Crypto-Rating.com
|CoinBene volume change 24 hours||5.99%|
|Exchange||Volume change, 24h|