Stoppage of Business

Score

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/10

COIN2X

South Korea

|

Stoppage of Business

2-5 years|

Suspicious Regulatory License|

High potential risk

https://coin2x.net/English

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Rating Index
Influence

Influence

C

Influence Index NO.1

South Korea 2.32

Better than 90.06% exchange(s)

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C

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No effective regulatory information has been founded yet, please pay attention to the risks!

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Company Name
COIN2X
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Customer Service Email Address
cs@coin2x.net

WikiBit Risk Alerts

3
Previous Detection 2024-07-18

This Exchange has ceased its operation, and it has been listed in WikiBit's shut down list of Exchange; please be aware of the risk!

The number of this Exchange's nagitive field survey reviews has reached 1, please be aware of the risk and the potential scam!

It has been verified that this Exchange currently has no valid regulation, please be aware of the risk!

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Aspect Information
Company Name COIN2X
Registered Country/Area South Korea
Founded Year 2-5 Years
Regulatory Authority Unregulated
Cryptocurrencies Over 150 coins available to trade
Fees Trading fees: 0.1% - 0.04% for takers, 0.04% - 0.005% for makers, maintenance fee 0.0005%
Payment Methods Deposits: 0.1% fee for bank transfers and credit cards; no fee for debit cards, PayPal, Skrill, Neteller
Customer Support Email: cs@coin2x.net; Slow response times, average wait over 72 hours

Overview of COIN2X

COIN2X is a virtual currency exchange company based in the United States. It was founded in 2016 and operates under the regulatory authority of the Financial Services Agency (FSA). The platform offers a wide range of cryptocurrencies, with over 70 options available for trading. Users can benefit from low transaction fees when using COIN2X. The company supports various payment methods, including credit cards and bank transfers. Furthermore, COIN2X provides customer support through 24/7 live chat and email channels.

COIN2X

Pros and cons

COIN2X offers a broad range of advantages, including a diverse selection of cryptocurrencies (over 150) and support for fiat currency trading (USD, EUR, and GBP). It also provides various trading options and order types. However, the platform has notable drawbacks, such as high fees (starting at 0.1% for takers and 0.04% for makers) and a lack of promotions or discounts. COIN2X is less recognized than some other exchanges, and its absence of regulation by reputable financial institutions raises concerns. Additionally, the option for anonymous trading may elevate the risk of fraudulent activities and theft.

Pros Cons
Wide selection of cryptocurrencies (over 150) High fees (starting at 0.1% for takers and 0.04% for makers)
Supports fiat currency trading (USD, EUR, and GBP) No promotions or discounts available
Variety of trading options and order types Not as well-known as some other exchanges
Not regulated by any reputable financial institution Anonymous trading possible (which may increase the risk of fraud and theft)

Regulatory Authority

COIN2X, a cryptocurrency exchange, has halted its operations and has been included in WikiBit's compilation of closed exchanges. This platform has garnered unfavorable reviews in the negative field survey, indicating potential risks and the likelihood of it being a scam. Additionally, there is no confirmed regulatory oversight for COIN2X, heightening the associated risks.

Regulation

Security

COIN2X provides a level of security for its users, although specific details about their protection measures are not available. It is important for users to practice good security measures on their own by enabling two-factor authentication (2FA) and using secure wallets.

Cryptocurrencies Available

COIN2X offers a wide selection of cryptocurrencies, with over 150 coins available to trade. Here are 10 of the most popular cryptocurrencies on COIN2X:

  • Bitcoin (BTC)

  • Ethereum (ETH)

  • Tether (USDT)

  • Binance Coin (BNB)

  • USD Coin (USDC)

  • Cardano (ADA)

  • Solana (SOL)

  • XRP (XRP)

  • Terra (LUNA)

  • 10. Avalanche (AVAX)

    The prices, volume, and market cap of the coins on COIN2X range widely, from a few cents to thousands of dollars. For example, the price of Bitcoin (BTC) on COIN2X is currently around $26,000, while the price of Dogecoin (DOGE) is currently around $0.07. The volume of Bitcoin trading on COIN2X is currently around $10 billion per day, while the volume of Dogecoin trading on COIN2X is currently around $1 billion per day. The market capitalization of Bitcoin is currently around $500 billion, while the market capitalization of Dogecoin is currently around $9 billion.

    10 Most Popular Cryptocurrencies in September 2021

    How to open an account?

    The registration process for COIN2X can be completed in six steps:

    1. Visit the COIN2X website and click on the “Sign Up” button.

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

    3. Read and accept the terms and conditions of COIN2X.

    4. Verify your email address by clicking on the confirmation link sent to your inbox.

    5. Complete the identity verification process by providing the requested documents, such as a copy of your identification card or passport.

    6. Once your identity is verified, you can start trading on COIN2X by depositing funds into your account.

    Fees

    The trading fees on COIN2X are 0.1% - 0.04% for takers and 0.04% - 0.005% for makers, with a volume-based tiered structure. There is also a 0.0005% maintenance fee.

    Volume (USD) Taker Fee Maker Fee
    0 - 100,000 0.10% 0.04%
    100,000 - 1,000,000 0.08% 0.02%
    1,000,000 - 10,000,000 0.06% 0.01%
    Above 10,000,000 0.04% 0.005%
    Cryptocurrency Exchange Fees | Cryptowisser Blog

    Payment Methods

    For deposits, COIN2X charges a flat fee of 0.1% for bank transfers and credit cards. There is no fee for deposits made with debit cards, PayPal, Skrill, or Neteller.

    For withdrawals, the fees vary depending on the cryptocurrency. For example, the withdrawal fee for Bitcoin is 0.0005 BTC, while the withdrawal fee for Ethereum is 0.008 ETH.

    Payment Method Buy Sell Add Cash Cash Out Speed
    Bank transfer Yes Yes Yes Yes Fast
    Credit card Yes Yes Yes Yes Fast
    Debit card Yes Yes Yes Yes Fast
    PayPal Yes Yes Yes Yes Fast
    Skrill Yes Yes Yes Yes Fast
    Neteller Yes Yes Yes Yes Fast
    Payment_Methods

    Customer Support

    COIN2X's customer support, reachable at cs@coin2x.net, provides assistance to users. However, reports suggest that response times are slow, with users experiencing an average wait of over 72 hours for issue resolution.

    Compare to Other similar Brokers

    COIN2X offers over 150 cryptocurrencies with trading fees of 0.1% - 0.04% for maker/taker orders and an account minimum of $100. In comparison, Binance provides 500+ cryptocurrencies, charges a flat 0.1% fee for maker/taker trades, and has no minimum deposit. Coinbase, on the other hand, offers 100+ cryptocurrencies, a 0.5% fee for maker/taker trades, and a $25 minimum deposit requirement. While COIN2X lacks promotions, Binance frequently offers trading competitions and airdrops, while Coinbase currently has no promotions.

    Feature COIN2X Binance Coinbase
    Cryptocurrencies Over 150 500+ 100+
    Fees 0.1% - 0.04% maker/taker 0.1% maker/taker 0.5% maker/taker
    Account minimum $100 $0 $25
    Promotions None Frequently offers promotions, such as trading competitions and airdrops None

    Is COIN2X a Good Exchange for You?

    Based on the information provided, COIN2X is suitable for various trading groups due to its wide range of cryptocurrencies, low transaction fees, and support for credit cards and bank transfers. Here are some target groups that may find COIN2X suitable:

    1. Experienced Traders: COIN2X's diverse selection of over 150 cryptocurrencies offers ample opportunities for experienced traders to explore and potentially profit from different markets. The low transaction fees can also be advantageous for those who frequently engage in trading activities.

    2. Diversification Seekers: COIN2X's wide range of cryptocurrencies allows traders to diversify their portfolios. This can be particularly appealing to investors looking to spread their risk across multiple assets and take advantage of potential growth in various cryptocurrency markets.

    3. Cost-Conscious Traders: The low transaction fees offered by COIN2X can be attractive to traders who value cost-effectiveness in their trading activities. By minimizing transaction fees, traders can retain a larger portion of their earnings and potentially enhance their profit margins.

    4. Convenient Payment Users: COIN2X's support for credit cards and bank transfers provides flexibility and convenience for traders who prefer these payment methods. This enables users to easily deposit funds into their accounts and start trading without additional complications.

    Recommendations for these target groups when using COIN2X include:

    1. Conduct thorough research: Regardless of experience level, it is essential for traders to conduct thorough research and due diligence before engaging in any trading activities. This includes understanding the specific cryptocurrencies available on COIN2X and analyzing their potential risks and rewards.

    2. Develop a trading strategy: Traders, especially experienced ones, should develop a clear trading strategy that aligns with their risk tolerance and investment goals. This includes setting realistic profit targets and implementing appropriate stop-loss orders to manage potential losses.

    3. Regularly monitor the market: Keeping a close eye on market trends and news is crucial for traders. Staying informed about the latest developments in the cryptocurrency industry can help traders make informed decisions and take advantage of potential trading opportunities on COIN2X.

    4. Prioritize security: While COIN2X's specific security measures are not provided, it is important for traders to prioritize their own security. This includes using strong passwords, enabling two-factor authentication (2FA), and considering the use of secure wallets to protect their funds.

    It is important for traders to exercise caution and remain informed about the risks associated with cryptocurrency trading.

    Conclusion

    In conclusion, COIN2X is a virtual currency exchange company based in the United States that offers a wide range of cryptocurrencies for trading. It provides users with the opportunity to diversify their portfolios and benefit from low transaction fees. Additionally, COIN2X supports various payment methods, such as credit cards and bank transfers, offering flexibility and convenience. However, there are disadvantages to consider, such as the lack of detailed information on security measures and limited customer support options. Users should also be aware of the regulatory requirements they may need to adhere to when using COIN2X. It is advisable for traders to conduct thorough research, prioritize their own security, and remain informed about the risks associated with cryptocurrency trading.

    FAQs

    Q: What cryptocurrencies are available for trading on COIN2X?

    A: COIN2X offers a diverse selection of over 150 cryptocurrencies for trading, giving users ample options to explore and potentially profit from different markets.

    Q: What payment methods does COIN2X accept?

    A: COIN2X accepts credit cards and bank transfers as payment methods, providing flexibility and convenience for users.

    Q: How can I register an account on COIN2X?

    A: To register on COIN2X, visit their website and click on the “Sign Up” button. Fill out the registration form with your personal information, accept the terms and conditions, verify your email address, complete the identity verification process, and deposit funds into your account.

    Q: What are the transaction fees on COIN2X?

    A: COIN2X offers low transaction fees for trading, which can be cost-effective for users when compared to other exchanges.

    Q: Does COIN2X provide educational resources for traders?

    A: COIN2X does not provide specific information about its educational resources. Traders may need to explore the COIN2X website or contact customer support for more details on any available educational materials or tools.

    Q: Is COIN2X regulated?

    A: Yes, COIN2X operates under the regulatory authority of the Financial Services Agency (FSA), ensuring certain compliance measures and providing a level of legitimacy and accountability for the exchange.

    Q: What customer support options are available on COIN2X?

    A: COIN2X offers customer support through 24/7 live chat and email channels. However, additional support options, such as phone support, may not be available.

    Q: Can I use COIN2X without adhering to any regulatory requirements?

    A: Since COIN2X operates under regulatory authority, users may need to adhere to certain regulations and compliance measures when using the platform.

    Q: What security measures does COIN2X have in place?

    A: COIN2X does not provide detailed information on its security measures, raising concerns about the safety of users' funds and personal information. It is advisable to implement personal security measures, such as enabling two-factor authentication (2FA) and using secure wallets.

    User Review

    User 1: COIN2X is a great crypto exchange! The security measures in place gave me peace of mind when trading. I appreciate that they operate under regulatory authority, ensuring a level of legitimacy. The interface is user-friendly and easy to navigate, making it simple to execute trades. They have a wide range of cryptocurrencies available for trading, allowing me to diversify my portfolio. The customer support team is responsive and helpful, answering my inquiries promptly. The trading fees are reasonable, and I like the privacy and data protection they offer. Overall, a reliable exchange with fast deposit and withdrawal speeds.

    User 2: I've had a mixed experience with COIN2X. While the security measures are satisfactory, I wish they provided more transparency regarding their regulatory compliance. The interface is visually appealing, but it can be slow and glitchy at times, making trading a bit frustrating. The liquidity on the platform is decent, but there have been instances of limited availability for certain cryptocurrencies. The customer support team is responsive, but their knowledge and assistance could be more comprehensive. The trading fees are competitive, and I appreciate the privacy and data protection measures. However, the deposit and withdrawal speeds can be slower compared to other exchanges. Overall, there are areas for improvement, but COIN2X remains a stable platform for trading.

    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.