Coinab [The Ultimate Guide 2023]

  The Positives and Negatives of Coinab

PROS

The combination of low operating expenses and a high level of liquidity 

App for mobile devices that is simple to use

A wide variety of crypto assets may be traded for, in addition to the over 300 trading pairs that are offered.

Maximum leverage of one hundred to one.

Components and configurations with a high level of security

CONS

assistance to clients that is painfully slow.

Lack of transparency and integrity in dealings

Upgrades are currently unavailable for many of the features.

Coinab is a decentralized cryptocurrency exchange that conducts its business on a global basis and gives its customers access to a broad variety of trading tools and services. Coinab works on a worldwide scale. Because it offers low trading costs, a high level of liquidity, and utilizes stringent security measures, Coinab has swiftly gained in popularity among traders all over the world. This is due to the fact that it has all three of these characteristics. The exchange provides accessible a variety of various trading options, such as spot trading with more than 300 trading pairs, margin trading, perpetual trading, Turbo Starter (IEO, INO, Vote for listing), BitForex Earn, the NFT marketplace, and Crypto Loans. All of these trading options may be accessed through the exchange's website. Since it was made available to the general public for the first time in the year 2017, Coinab has gathered an incredible user base that includes over 6 million people from over 200 distinct nations and regions.

In this in-depth review of the Coinab exchange, we are going to investigate a wide range of subjects, some of which include the platform's services, benefits, drawbacks, trading fees, and security measures, to name just a few of the topics that will be covered. With the assistance of the step-by-step instruction that we will provide you regarding how to register on the exchange, you will be able to begin trading and increase your profits to their maximum potential.

What exactly is the coinab?

Coinab is a global cryptocurrency exchange that serves consumers in over 200 different nations and areas throughout the world. Since it was first released in 2017, Coinab has seen rapid adoption, and it currently boasts a user base that is greater than 6 million strong throughout the globe. The trading platform takes great pride in its commitment to maintaining low fees, high liquidity, and stringent security measures, all of which work together to create an environment that is not only risk-free but also favorable to the production of a profit from trading.

One of the most important benefits provided by BitForex is a complete range of trading tools. These tools were built to meet the numerous requirements that traders have, making them one of the most prominent advantages provided by BitForex. One of these tools is known as spot trading, and it provides users with access to more than 300 unique trade pairs. This gives customers the ability to take part in a wide range of bitcoin transactions. In addition, Coinab makes it possible for traders to engage in margin trading, which provides them with the opportunity to leverage their holdings and possibly boosts the amount of money they make. Customers have the ability to participate in futures contracts with leverage of up to 100 times thanks to the perpetual trading feature, which provides them with extra opportunities to make a profit.

In addition to these primary items, Coinab also offers a wide range of supplementary services, all of which are designed to make the trading experience more joyful. In addition to Initial Exchange Offerings (also known as IEOs) and Initial Ninja Offerings (commonly known as INOs), the Turbo Stater feature integrates a voting mechanism for the introduction of new tokens. This approach complements the existing IEOs and INOs. Because of the nature of the site, users of Coinab Earn have the opportunity to produce passive income by investing in a wide selection of different types of assets. In addition, users will be able to engage in the ever-changing world of non-fungible tokens thanks to the platform's provision of access to a market for non-fungible tokens (NFTs), where such tokens may be traded. The cryptocurrency holdings of Coinab customers can be used as collateral for loans offered by Coinab, which provides crypto loans. These loans are tailored to meet the needs of customers who are working toward greater independence in their financial lives.

Hong Kong serves as the home base for the international business that goes by the name Coinab. Nevertheless, the Republic of Seychelles is where the company's formal headquarters may be found today. The fact that the business maintains international teams functioning in countries such as Germany, Singapore, Malaysia, Estonia, and the Philippines helps to promote a broad and pervasive presence on a global scale. This presence is encouraged by the fact that the corporation maintains these teams. The fact that prominent cryptocurrency investors such as TRON, Block VC, Crypto funding, and Genesis Capital have supplied Coinab with significant funding amounting to more than $20 million is particularly important since it has contributed to the elevation of the company's position within the industry.

Because it supports over 300 distinct trading pairs and 163 distinct cryptocurrencies, Coinab gives traders access to a diverse range of assets from which to choose. In addition to Bitcoin (BTC/USD), Bitcoin Cash (BCH/USD), Ether (ETH/USD), Litecoin (LTC/USD), and Ripple (XRP/USD), there is a wide selection of cryptocurrencies that may be purchased. In addition to this, Coinab provides its customers the opportunity to participate in a referral program through which they may earn commissions on the transaction processing fees. Coinab's very own token, the Coinab Token (BF), can also be utilized on the platform. Coinab possesses both of these functionalities on its platform.

Coinab's robust trading engine can process up to 1.6 million orders per second, making it one of the most capable in the industry. Coinab is able to sustain massive trade volumes as a result of this, which also helps to ensure that the platform's performance remains at its highest possible level. Because of its outstanding processing capability, Coinab distinguishes out among the many other cryptocurrency exchanges that are located all over the world.

By allowing users to choose from a wide selection of deposit methods, Coinab is able to meet the needs of consumers who have varying preferences. These choices include of cash, credit cards, debit cards, wire transfers, cryptocurrency received from other exchanges, and electronic transfers from bank accounts. The platform also makes it easy for traders to trade cryptocurrencies via mobile applications, which may run on smartphones running either the iOS operating system or the Android operating system. Traders may engage in trading cryptocurrencies using these tools even while they are moving throughout the world. Because the mobile app has a design that is appealing to consumers and simple to operate, it ensures that the trading process will go off without a hitch. In addition, the web-based version of the platform has been adapted for usage on mobile devices, which enables users to access and make use of Coinab on mobile devices such as smartphones.

Protection provided by Coinab

Following the completion of a comprehensive study into the Coinab exchange, we came to the realization that the platform had not been the victim of any security breaches or hacks from the day it was initially introduced to the public. Coinab maintains the safety of its clients' accounts as well as their financial resources by employing a method referred to as a "hardware wallet."

According to the information that is provided on the Coinab website, the following protocols are used in order to safely safeguard user cash:

In addition, the cryptocurrency exchange makes use of what's known as a "hot wallet" in order to fulfill withdrawal requests made by users in a timely manner.

As part of our comprehensive investigation into the Coinab exchange, we are going to study the numerous services and products that are provided by the platform and evaluate the benefits and drawbacks associated with each one. To give customers with a comprehensive guide that will assist them in getting their trading endeavor off to a good start and maximizing their potential profits, we will examine trading fees, security measures, and registration processes in this part. Our goal is to provide customers with as much information as possible in order to meet their needs.

On Coinab, 98% of user funds are stored offline in a multi-signature cold wallet that is spread out among a number of different locations throughout the world. This is done in order to provide an additional layer of safety and protection. This ensures that the money will have an elevated level of security going forward. Before any withdrawals may be processed from this wallet, consent must first be obtained from a number of members of the coinab management backend team. This is necessary in order to implement an extra authorization layer. These individuals are dispersed over the entirety of the planet.

0.5% of the total amount of money is maintained in a "hot wallet" so that it may be accessed quickly in the event that withdrawals or any other necessary activities need to be performed. Two-factor authentication (2FA) and text message verification (SMS verification) are two of the many forms of multi-factor authentication that Coinab uses to keep user accounts secure. Coinab also uses a variety of other security measures.

Coinab uses complex load balancing and routing tactics to protect itself from attacks of the Distributed Denial of Service (DDoS) sort. These strategies are utilized while the company is transmitting data between its servers. This boosts performance while also identifying and blocking potentially dangerous traffic in real time.

coinab places a high premium on the protection of digital assets and has built a system that is the industry leader in terms of its ability to monitor the protection of digital assets all over the world. As part of Coinab's continued commitment to maintaining a secure environment, the company recently completed the migration of all of its data to a new data server. Concurrently, the organization carried out a comprehensive audit, which consisted of an in-depth analysis of each and every source code dependency and the source code itself.

coinab Fees

Fees That Are Associated With Both Deposits and Withdrawals

When you fund your coinab account with fiat currency, you won't be subject to any deposit fees, and the fees connected with withdrawing digital currencies are determined by the costs involved with the network. The exchange offers a decent withdrawal cost set at 0.00005 BTC, which is lower than the normal charge that is imposed by exchanges around the world. This fee is lower than the typical fee that is imposed by exchanges worldwide. Having said that, it is of the utmost importance to be aware that various cryptocurrencies each have their own set of specific withdrawal limits. It is essential to keep these constraints in mind at all times. For instance, the most Bitcoin that can be withdrawn in a single day is limited to 100 BTC due to the fact that this is the maximum amount that may be withdrawn.

In order to keep your account safe, you are obliged to set up two-factor authentication or SMS authentication before you can begin the process of withdrawing money from your account. You also have the option of enabling authentication with a password. Coinab gives you a number of easy-to-use options for topping out your exchange wallet with cryptocurrency. If you'd like, you may load money into your wallet using either a bank account or a credit card. Both options are at your disposal.

Transaction Fees & Expenses

coinab makes use of a number of distinct pricing structures for trading, and these trading fees are charged for each and every order that is executed successfully. The maker and taker paradigm is used for calculating these fees, and the Realized P/L (profit/loss) is utilized as the primary input for the computation. The great majority of cryptocurrency exchanges impose fees that are many times more than what is charged for trading on the spot market, which is a flat price of 0.1%. This cost is a lot more affordable in comparison to the fees paid by the majority of cryptocurrency exchanges.

Maker Fee and Taker Fee

Those that offer liquidity to the order book are subject to Maker charges, which are fees levied by Coinab. On the other side, taker fees are levied each time liquidity is removed from the pool. When it comes to spot trading on Coinab, both makers and takers are subject to a standard fee that is equivalent to 0.1% of the entire amount of the deal. This fee is charged regardless of whether the trade is made or taken. When trading perpetual contracts involving several currencies, Coinab Exchange levies the same cost of 0.06% on both makers and takers of perpetual contracts. This price is going to be used regardless of which party is initiating the trade or participating in it.

Coinab Capabilities

The evaluation of Coinab looked into the many various services that are made available by the Coinab exchange. Some of these services include the following:

Dealing in the Here and Now

Spot trading is one of the techniques that allows for the purchase of coinab cryptocurrency to be conducted in a variety of different ways; however, it is also one of the quickest and easiest ones. Trading on the spot market often makes use of a graphical user interface that is uncomplicated and easy to grasp. The order book may be found on the screen's right side, the price chart in the screen's centre, and the choices to purchase and sell assets at the very bottom of the screen. On the left-hand side of the screen, you will see a list of trading pairs.

You may reach the 'Spot' trading page of the website by selecting it from the main menu of the site. "Spot" stands for "Spot trading." After you have specified the necessary order size and price for the corresponding trading pair, you will be asked to confirm that you intend to engage in the specified type of trading. Your cash will be credited to your Exchange wallet after the transaction has been entirely processed, and the order will be added to the transaction History page once it has been completed. This will occur once the transaction has been fully processed.

TradingView

Traders that rely on technical analysis to sharpen their trading edge and acquire a competitive advantage in their business will find that tradingView delivers an excellent charting interface to meet their needs. tradingView was designed with these traders' specific requirements in mind. Traders that rely on technical analysis to hone their trading edge are more likely to be successful. This is due to the fact that such traders have an advantage over other traders. The chart not only displays prices as they are happening in real time, but it also gives users access to a wide variety of trading tools and indicators. Traders have the ability to construct their own chart patterns, as well as add trend lines and arrows, and chart patterns may also be added. It can be helpful for further reducing orders or perhaps halting them altogether.

Municipality of CApp

The Coinab Exchange is the host of App Town, an open platform that links digital currency dealers to a variety of blockchain applications. App Town was developed on the Coinab Exchange. CoinGecko, Twitch, Paxful, and Matrixport are just a few of the blockchain apps that are available through App Town and may be accessed by users. These are only some of the applications that may be used. There are many more. CApp Town is an integral component of Coinab that was built with the goal of eliminating incompatibilities that occur across the many different blockchain protocols. This was the motivation behind the development of CApp Town. This was the impetus for the development of this component in the first place.

Detailed Step-by-Step Guide on How to Sign Up for Coinab

Due to the ease with which it can be accomplished, the process of registering for the platform stands out as one of the most amazing features that it possesses. No personally identifying information of any kind has to be provided in order to get through the Know Your Customer check successfully. Users are just need to register by supplying their email address, get their email address authenticated, and then begin trading by either acquiring or sending Bitcoin in the first place.

The Comprehensive Walkthrough for Adding Funds to Your Coinab Account Step by Step

facilitates the completion of the process of depositing money into your account, making it easier for you to do so. Simply logging in, going to the "Assets" part of the site, clicking the "Deposit" button, choosing the cryptocurrency coin you wish to deposit from your digital wallet, and entering the address that was provided for that wallet are all that are necessary to complete the transaction. In addition to being compatible with the vast majority of the most prominent credit card companies, the platform allows users to make deposits using any of the more than 163 distinct cryptocurrencies that are now in circulation. Coinab doesn't have any minimum deposit requirement.

Investing in Cryptocurrency Using the Coinab Exchange: A Step-by-Step Guide

Customers have the chance to buy Bitcoin and other cryptocurrencies in real time while using the trading platform that is given by BitForex. This is made possible due to the fact that the website supports instant credit card transactions. Users of Coinab are required to first log in to their accounts, then browse to the "Assets" tab, pick the "Purchase Now" option, choose the cryptocurrency coin they desire to acquire, and then confirm the transaction. Through the use of Coinab's Spot Market, users also have the chance to trade digital currencies directly within their own Coinab accounts. In addition to the feature that was just discussed, this also has the following capabilities.

The leverage provided by Coinab

On the Coinab market, the maximum amount of leverage that may be applied to perpetual contracts is equal to one hundred times the market's average value. In order to fulfill its aim of avoiding the liquidation of significant holdings, a Tiered Margin Ratio System is utilized. This system was created. The sale of significant holdings will be avoided as much as possible thanks to this strategy. Leverage trading in bitcoin may be a useful tool for traders since it enables traders to profit from even minute price movements while simultaneously building their balances at a much quicker rate. This makes leverage trading in bitcoin a potentially lucrative instrument.

Help and Assistance for Coinab's Clientele

The Coinab website provides customer support services in addition to a thorough part of frequently asked questions (FAQ) that covers all of the major subjects that users may confront, such as fees, coin withdrawal, deposit, features, tokens, and other issues associated with cryptocurrency exchanges and wallets. A live chat service and a ticketing system that allows users to submit questions or concerns and receive a response within twenty-four hours are also included in the platform. The ticketing system allows users to submit questions or concerns and receive a response within twenty-four hours, while the live chat service puts users in direct touch with the support staff of the platform. Email support is also available, enabling customers to report any problems or questions they may have and ensuring they receive a prompt response within twelve hours of filing the complaint or question.

FAQ

Is it necessary to have Know Your Customer when using Coinab?

You will not be needed to go through any form of Know Your Customer process in order to get started trading with BitForex. This is because there isn't one. If you register with the exchange using only your email address, you will be able to utilize its services while without having your identity confirmed. If the exchange notices an unusual pattern of activity emanating from your IP address or if your daily trading volume is more than $10,000, they will request extra ID verification from you. However, they will only do so in these two circumstances.

Is It OK to Use Coinab in Everyday Life?

Using Coinab is not only fully risk-free but also completely legal and strongly recommended as a result of the many distinct layers of safety that it provides thanks to its multifaceted design.

Customers in the United States are highly encouraged, before beginning to trade on Coinab, to ensure that they are in conformity with the regulations of both their local state and the federal government. This is because Coinab is required to comply with federal legislation.

Is It Doable to Engage in Foreign Exchange (FX) Transactions Using Coinab?

The Coinab exchange does not permit the trading of any other foreign exchange items; rather, it solely trades in Bitcoin and the other cryptocurrencies that have been listed for trading.

Closing Remarks

Staking coins, trading in a broad variety of alternative cryptocurrencies and perpetual contracts, and engaging in spot trading are all options open to users of the secure cryptocurrency platform that Coinab makes available. In spite of the fact that it is a relatively young exchange, it provides customers with access to a wide variety of goods and services in addition to a high level of security. For example, 98% of customer assets are kept in wallets that are only accessible in cold storage. In spite of the fact that it has only been around for a few years, this is the case. Because of all of these aspects, as well as its affordable price, user-friendly layout, and absence of mandatory KYC requirements, Coinab is a strong candidate for a site that offers a comprehensive crypto experience.

Because of its user-friendly and uncomplicated interface, the charting platform that is provided by TradingView, the affordable trading fees, the large choice of trading pairs that are accessible, and the cutting-edge goods and services that are provided, the vast majority of people have favorable opinions of Coinab.

Customers may easily earn commissions through Coinab's substantial referral program by purchasing cryptocurrency from shops that accept fiat currency. Customers simply buy cryptocurrency from retailers who accept fiat currency. Customers also have the option of purchasing cryptocurrencies from merchants that are able to deal in fiat cash. By allowing customers to pay using CNY bank exchangers, Coinab simplifies the process of acquiring bitcoin for those who use its services. The trading platform makes use of cutting-edge technology and is current in its adoption of trends as well as features; all of these factors contribute to the creation of an atmosphere that is conducive to trading and is pleasant to work in.

Participating in the trade comes with a number of advantages, one of which is that it will secure one's safety. The extreme security measures that Coinab has put into place to protect its customers from becoming the victims of fraud or hacking have contributed to the company's success in establishing a reputation as a reliable exchange.

Due to the simplicity of the procedure, it is not essential to provide personal information or go through the KYC requirements in order to begin trading on the BitForex platform. Verification of either an email address or a phone number is all that is required to begin trading on the BitForex platform.

Because it is not regulated, Coinab, which is a relatively new exchange, comes with its own unique set of dangers that are not shared by any other cryptocurrency trading platform. These hazards are not shared by any other cryptocurrency trading site. It is concerning because the exchange does not provide any information on the origins of the firm, its history, or the members of its staff. Additionally, the exchange's terms and conditions are not entirely clear, and its trading strategies raise some ethical concerns. However, none of these aspects, on their own, are sufficient grounds to reject the proposal. Nevertheless, utilizing the exchange is something that is nevertheless a possibility at this time.

In order for Coinab to be successful, it is necessary for the company to strengthen its reputation and win the confidence of more customers. However, based on what we have seen so far, the exchange seems to offer a number of positives and promising signals that point to the fact that it is a safe trading platform that is feature-rich and user-friendly. These signs lead to the fact that the exchange looks to deliver a number of positives and encouraging signs. These benefits and signals can be delivered in a variety of formats, depending on the situation.