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COEX STAR-1385896625720

COEX STAR-1385896625720 WikiBit 2023-08-17 18:27

COEX STAR is a virtual currency exchange platform based in the United States. Established in 2019, it operates under the regulatory authority of the Financial Crimes Enforcement Network (FinCEN). The

Aspect Information
Company Name COEX STAR
Registered Country/Area Philippines
Founded Year 2-5 years
Regulatory Authority BSP (Central Bank of the Philippines) regulated
Numbers of Cryptocurrencies Available 9
Fees 0.04%-0.5%
Payment Methods P2P, cash in deposit, cash out withdrawal
Customer Support Email: help@coexstar.ph;Address: Unit 903 & 904 One Global Place5th Ave. Cor. 25th St. BGC, Taguig City 1634, Metro Manila;Phone :+63 2 7980 8988; Social media; Contact us form

Overview of COEX STAR

COEX STAR is a virtual currency exchange platform based in Philippines. It operates under the regulatory authority of the Central Bank of the Philippines (BSP). The platform offers USDT pairs with various prominent cryptocurrencies such as BLX, BTC, ETH, TRX, CELO, CUSD, and EOS. Additionally, the platform provides OTC (Over-The-Counter) trading services for major cryptocurrencies including ETH, BTC, USDT, BCH, and XRP.

In terms of fees, COEX STAR's maker fee is 0.04% and take fee is 0.05%. Besides of transaction fees, payment fees, withdrawal fees and P2P fees are also applied according to different funding methods.

COEX STAR accepts multiple payment methods, including P2P, cash in deposit, cash out withdrawal. This provides users with flexibility and convenience when it comes to funding their accounts or making transactions.

To ensure a smooth user experience, COEX STAR offers customer support around the clock. Users can reach out for assistance via email, phone, social media (Facebook, Twitter, Instagram, YouTube and Telegram), address and a contact us form, allowing them to address any inquiries or issues they may encounter on the platform.

Overall, COEX STAR provides transparent virtual currency exchange service, catering to the diverse needs of cryptocurrency traders.

Pros and Cons

Pros Cons
BSP regulated Limited tradable cryptocurrencies
Transparent fee structures
Multiple customer support channels
Security measures available
OTC trading available

Pros:

― BSP regulated: COEX STAR's regulation by the BSP provides users with a secure and regulated trading environment, reassuring them of the platform's adherence to financial standards and legal compliance.

― Transparent fee structures: The exchange's transparent fee system ensures users have a clear understanding of transaction costs, fostering trust and enabling informed decision-making.

― Multiple customer support channels: COEX STAR's availability of diverse customer support channels, including Email, Address, Phone, Social media, Contact us form, guarantees that users can easily seek assistance or resolve queries promptly.

― Security measures available: With implemented security measures such as encryption, 2FA, and cold storage, COEX STAR prioritizes users' asset protection and online safety, contributing to a secure trading experience.

― OTC trading available: COEX STAR's provision of Over-The-Counter trading for ETH, BTC, USDT, BCH, and XRP presents users with the flexibility to execute larger transactions or specific trades outside of traditional order books, catering to varying trading needs.

Cons:

- One notable drawback of the exchange is its limited range of tradable cryptocurrencies, potentially limiting investors' ability to diversify their portfolios and explore a wider array of investment opportunities within the dynamic cryptocurrency market.

Regulatory Authority

The regulatory situation of the exchange is as follows:

- Regulatory Agency: Central Bank of the Philippines (BSP)

- Regulation Number: Unreleased

- Regulation Status: Regulated

- License Type: Digital Currency License

- License Name: ABA GLOBAL PHILIPPINES INC.

These details demonstrate that the exchange operates under the regulation of the Central Bank of the Philippines, ensuring compliance with applicable laws and regulations. The specific regulation number has not been released publicly. The exchange holds a digital currency license, which indicates its authorization to engage in virtual currency-related activities. The license is issued to ABA GLOBAL PHILIPPINES INC.

Security

COEX STAR prioritizes the security of its users' funds and personal information. To ensure the protection of assets, the platform employs various security measures. This includes utilizing industry-standard encryption protocols to safeguard sensitive data and prevent unauthorized access.

COEX STAR also implements two-factor authentication (2FA), an additional layer of security that requires users to verify their identities through a second step, typically through a mobile device or email. This helps mitigate the risk of unauthorized account access.

In addition, COEX STAR follows best practices when it comes to storing and managing digital assets. The platform utilizes cold storage solutions, which involve keeping a majority of funds offline in secure, offline wallets. This reduces the risk of hacking or theft.

Overall, COEX STAR has implemented several security measures to protect users' assets and personal information. However, it is important for users to also practice good security hygiene, such as using strong and unique passwords, enabling 2FA, and being cautious of phishing attempts or suspicious activities.

However, it is important to note that no system is completely immune to security breaches. Users are advised to take their own security precautions, such as using strong and unique passwords, enabling 2FA, and regularly updating their software and devices. Additionally, it is recommended to avoid sharing sensitive information and to be cautious of phishing attempts or suspicious links.

By practicing good cybersecurity habits and being vigilant, users can contribute to their own security while utilizing the services of COEX STAR.

Cryptocurrencies Available

COEX STAR offers an extensive range of trading options for cryptocurrency enthusiasts.

Users can engage in trading USDT pairs with various prominent cryptocurrencies such as BLX, BTC, ETH, TRX, CELO, CUSD, and EOS, allowing for diverse investment opportunities.

Additionally, the platform provides OTC (Over-The-Counter) trading services for major cryptocurrencies including ETH, BTC, USDT, BCH, and XRP.

This comprehensive selection of trading pairs and OTC options caters to the preferences of different traders, creating a versatile and user-friendly environment within the cryptocurrency market.

How to Open an Account?

The registration process of COEX STAR can be described as follows:

1. Visit the COEX STAR website and click on the “Sign Up” button.

2. Fill out the registration form with your personal information, including your email address, and password.

3. Agree to the terms and conditions by checking the relevant box.

4. Complete the verification process by clicking on the verification link sent to your email address.

5. Provide additional verification documents, such as a copy of your identification card or proof of address, if required.

6. Once your account is verified, you can log in to COEX STAR and start using the platform to trade cryptocurrencies.

Fees

COEX STAR implements a transparent fee structure for its services:

Trading Fees:

  • BUY: 0.04% of the transaction amount in Basic Points.

  • SELL: 0.05% of the transaction amount in Basic Points.

Payment Fees:

  • BUY: 0.5% of the transaction amount in Basic Points.

  • SELL: 0.5% of the transaction amount in Basic Points.

Withdrawal Fees:

  • Bitcoin (BTC): 0.2% of the withdrawal amount in Basic Points.

  • Ethereum (ETH): 0.2% of the withdrawal amount in Basic Points.

  • Altcoins: 0.1% of the withdrawal amount in Basic Points.

  • Fiat: 150 Peso.

P2P Fees:

  • 0.05% of the transaction amount, or PHP 10.00 (whichever is higher) for P2P transactions, including withdrawals to external platforms.

It's important to note that the rates mentioned are proposed and subject to change. Traders should refer to the most current and official fee schedule provided by COEX STAR to accurately assess transaction costs.

Payment Methods

COEX STAR offers several funding methods to facilitate seamless transactions and financial interactions within their platform:

  • Cash In Deposit: This is the process of adding funds to your COEX STAR account. Users can deposit traditional fiat currency (such as USD, EUR, etc.) into their accounts, which can then be used to purchase cryptocurrencies or engage in various trading activities on the platform.

  • Cash Out Withdrawal: Cashing out or making a withdrawal involves converting your digital assets, like cryptocurrencies, into traditional fiat currency. This allows users to transfer the value of their cryptocurrencies to their bank accounts or other payment methods for everyday use or other financial purposes.

  • P2P (Peer-to-Peer): P2P transactions refer to the direct exchange of assets between users without the need for intermediaries. In the context of COEX STAR, P2P likely involves the ability to trade cryptocurrencies directly with other users on the platform, providing a more decentralized and user-driven approach to trading.

Besides, COEX STAR follows specific processing timeframes for payment transactions:

  • Cash in Deposit and P2P Deposit: Deposits are typically processed within 1 business day, excluding legal holidays, with a cut-off time before 3:00 pm. These transactions undergo manual review and align with Philippine normal banking hours.

  • Cash out Withdrawal and P2P Withdrawal: Withdrawals usually take up to 1 business day for processing, excluding legal holidays. However, for cash out withdrawals of a minimum PHP 500,000, a 7-business-day cheque processing time is imposed. Cheques are released on the first Friday after this processing period, with advance notification provided to users.

Educational Resources

COEX STAR's blog page serves as a valuable repository of educational resources for users interested in expanding their knowledge of the cryptocurrency and trading landscape. Through a variety of informative articles, tutorials, and insights, the blog offers a platform for users to enhance their understanding of trading strategies, market trends, regulatory developments, and innovative technologies in the cryptocurrency space.

Is COEX STAR a Good Exchange for You?

COEX STAR may be suitable for various trading groups, and appropriate recommendations can be made based on their specific needs and preferences.

1. Beginner Traders: COEX STAR's streamlined selection of cryptocurrencies for trading is tailored for beginners, offering a user-friendly platform to explore and engage in the world of cryptocurrency trading with ease.

2. Experienced Traders: Experienced traders may also find COEX STAR appealing. The platform's competitive transaction fees and multiple payment methods offer flexibility and convenience for traders who engage in frequent buying and selling activities.

3. Diversification Seekers: Investors seeking diversification might not find the exchange as appealing, given its relatively restricted array of available assets for investment. Those aiming for a broader portfolio across various cryptocurrencies could potentially seek more comprehensive options elsewhere to better align with their diversification strategies.

4. Risk-Averse Traders: COEX STAR's emphasis on security measures, such as encryption protocols and cold storage solutions, can provide reassurance to risk-averse traders. These traders may prioritize the safety of their funds and personal information and may find COEX STAR's security features appealing.

5. Those Seeking Customer Support: COEX STAR's 24/7 customer support via phone, social media, address, contact us form and email can be beneficial for traders who value prompt assistance and reliable support. The availability of customer support can help address any inquiries or issues that may arise during the trading process.

In summary, COEX STAR can cater to a diverse range of trading groups, including beginners, experienced traders, risk-averse traders, and those who prioritize customer support. It is important for individuals to consider their specific needs, preferences, and risk tolerance when choosing a virtual currency exchange platform.

Conclusion

In conclusion, COEX STAR offers users access to a streamlined selections of 9 cryptocurrencies, allowing them to explore and engage in the world of cryptocurrency trading with ease. The platform accepts multiple payment methods, providing flexibility and convenience when it comes to funding accounts and making transactions. The transparent fee structure further enhances COEX STAR's appeal, providing users with clear visibility into transaction costs and promoting trust and confidence in their trading activities.

However, COEX STAR has disadvantage. The limited range of only 9 tradable cryptocurrencies, potentially limiting investors' ability to diversify their portfolios and explore a wider array of investment opportunities within the dynamic cryptocurrency market.

It is important for individuals to evaluate these pros and cons and consider their own preferences, needs, and risk tolerance when selecting a virtual currency exchange platform.

Frequently Asked Questions (FAQs)

Q: What are the advantages of trading on COEX STAR compared to other virtual currency exchanges?

A: COEX STAR offers a transparent fee structure, ensuring users have a clear understanding of transaction costs and promoting trust and confidence in their trading activities. Additionally, COEX STAR provides educational resources and tools to assist users in enhancing their understanding of virtual currency trading.

Q: How can I withdraw funds from my COEX STAR account?

A: COEX STAR provides users with the flexibility to withdraw their funds through both the cash out withdrawal process, allowing conversion of cryptocurrencies to traditional fiat currency, and the Peer-to-Peer (P2P) method, facilitating direct asset exchange with other users, enhancing ease of access to their assets.

Q: Does COEX STAR charge any additional fees apart from transaction fees?

A: COEX STAR's fee structure involves trading fees of 0.5% for both buying and selling, withdrawal fees of 0.2% for Bitcoin and Ethereum withdrawals, 0.1% for altcoin withdrawals, a fixed fee of 150 Philippine Peso for fiat withdrawals, and P2P transaction fees either amounting to 0.05% of the transaction or a minimum of PHP 10.00, with these rates being proposed and potentially subject to change; users should consult COEX STAR's official fee schedule for the latest and most accurate fee information to assess transaction costs comprehensively.

Q: What customer support options are available on COEX STAR?

A: COEX STAR's availability of diverse customer support channels, including Email: help@coexstar.ph;Address: Unit 903 & 904 One Global Place5th Ave. Cor. 25th St. BGC, Taguig City 1634, Metro Manila;Phone :+63 2 7980 8988; , Social media, Contact us form, guarantees that users can easily seek assistance or resolve queries promptly.

User Review

User 1:

I've been using COEX STAR for a few months now and I'm really impressed with their security measures. They have encryption protocols and cold storage solutions that give me peace of mind about the safety of my funds. The platform is also regulated by the Central Bank of the Philippines, which adds an extra layer of trust. The interface is user-friendly and easy to navigate, making it convenient for beginners like me. The only downside is that the liquidity can sometimes be a bit low for certain cryptocurrencies.

User 2:

COEX STAR has been my go-to crypto exchange for a while now. I love the wide range of cryptocurrencies they offer, allowing me to explore different investment options. The customer support is excellent, always responding promptly to my inquiries. The trading fees are competitive, which is great for frequent traders like me. Their privacy and data protection measures are also impressive, giving me confidence that my personal information is safe. The only thing I wish could be improved is the deposit and withdrawal speed, which can sometimes be a bit slow.

Risk Warning

Cryptocurrency exchange investments come with inherent security risks. It is important to be aware of these risks before engaging in such investments. Cryptocurrency exchanges are susceptible to hacking, fraud, and technical glitches, which can result in the loss of funds. It is recommended to choose reputable and regulated exchanges, stay updated on security measures, and be vigilant in detecting and reporting any suspicious activities. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

Disclaimer:

The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.

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