CoinEx is a centralized cryptocurrency exchange that was founded back in December 2017 under the leadership of Haipo Yang, with its headquarters in Hong Kong. The CoinEx exchange was designed to provide a pleasant and convenient user experience with high levels of security and stability. CoinEx supports more than 700 different crypto tokens, letting users buy and sell the cryptocurrencies that interest them the most. Further, it offers additional trading options, such as margin trading and the use of smart trading tools. Moreover, it claims to have rapid transaction speeds, capable of handling up to 10,000 transactions every second. Plus, the CoinEx platform has its own token, CET, which can be used for discount trading fees, unique promotional benefits, and VIP services.
BothCoinExand Zengo allow crypto traders to buy, sell, and swap cryptocurrency assets, and although there are some similarities, they also differ significantly.CoinEx, first and foremost, is a centralized cryptocurrency exchange with a range of additional features like margin trading and smart trading tools. Zengo, on the other hand, is primarily focused on security and privacy. It makes use of advanced security technologies, like MPC and 3-factor authentication, for securing user accounts and assets, minimizing the risk of funds being lost or stolen. On top of that, with Zengo’s WalletConnect integration, users are able to interact with a wide range of Dapps and services.
CoinEx has variable withdrawal fees. This means that the fee you have to pay for each withdrawal can vary based on multiple factors, for instance, the type of crypto you’re withdrawing as well as market conditions at the time of withdrawal. Users should always check the fee on the withdrawal screen before proceeding to withdraw funds.
CoinEx imposes a range of withdrawal limits for different cryptocurrencies. If necessary, it is possible to apply for an increased 24-hour withdrawal limit.
Withdrawals are usually processed in a matter of minutes on CoinEx, although it could take hours or even a couple of days to get to your other wallet or account, depending on network conditions and other factors.
When withdrawing from CoinEx, it’s essential to be aware of potential challenges that may arise during the process. First, make sure that you confirm your withdrawal request within 30 minutes by email, as delays could lead to automatic cancellation. Additionally, withdrawals might remain pending for a short period due to auditing or temporary wallet maintenance. Additionally, you should always be cautious when sending assets to other platforms, as unsupported coins, wrong network selections, or incorrect memos/tags may result in unsuccessful transactions. Most importantly, exercise extreme care while entering the destination address, as any mistake could lead to irreversible loss of funds. Make sure you double-check all the details before confirming your transfer to prevent funds from being lost.
CoinEx has teamed up with six different payment providers to allow users to sell their crypto for fiat currencies like USD and EUR. The process for each payment provider varies, and some of them have strict payment limitations. You may find it easier to move your funds over to the secure Zengo wallet first and then withdraw your crypto to fiat with ease.
