Review on CoinBene by Temitope Babatunde
Many Cryptocurrencies Available For Trading On Coinbene.
Historically, Coinbene was launched in 2017, it is at Singapore and the website has various languages like English, Chinese, Vietnamese, Spanish, Malay, Korean, and Portuguese so that users can be able to accessed it worldwide, that is why presently it has users from more than 200 countries. But one thing that is not good enough about the exchange is that the team behind the exchange is not known.
The coinbene platform has more that 170 cryptocurrencies with which one can trade, it has very good number of daily trading volume that is why it is among the top 10 crypto exchange, though there are allegations from certain quarters that the volume is fake. The base currencies are, Btc, Usdt, Eth, Neo, LTC and Pax.
Deposit is free, but you can only deposit cryptocurrencies which makes it not suitable for newbies into Crypto who will have to use exchange that accept fiat deposit. Withdrawal also is free, but one will only pay the network fee. The trading fee is flat for all traders both the makers and takers, it is 0.1 percent, but can be cut to 50 percent if one hold coni which is native coin of coinbene in the first year of trading, 20 percent cut by second year and 10 percent cut in the third year.
Security wise coinbene score F with observatory Mozilla, which is not good enough but in general that is the score of most of the crypto exchanges. But coinbene offers good security measures like Google Authenticator and others.
There is margin trading, OTC and there is API documentation for the advance traders there is also IEO launchpad. Coinbene also has self listing service, which means those that has good coin can list them by themselves.
Another thing worthy of mentioning is the customer support service that is in operation, though their response is not as fast as that of others but you will be answered within 12 hours.
In conclusion if someone want to trade he/she can consider using Coinbene.
Pros
- It is possible to access it worldwide except USA.
- The website is available in many languages
- If you hold the native coin of coinbene, you will have certain privileges on the platform.
Cons
- Not much is known about those who are behind the exchange
- There are certain individuals on some review platforms that gave some negative feedback about the exchange.
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Comments (1)
May 22, 2020
CoinBene only charges the network fee when you make a withdrawal and does not charge anything on top of the network fees. This withdrawal fee model is also far below the industry average.
