RESEARCH & ANALYSIS
FOR THE CRYPTO ECONOMY.

CoinBene

CoinBene Exchange Review

Centralized

CoinBene, one of the top 10 cryptocurrency exchanges by trading volume, is available in a 150+ countries and in various languages, including English. This leading crypto asset platform is based in Singapore. It serves the crypto community via 192 markets. A CoinBene exchange review shows that there are 170+ digital assets listed and available for trading.

CoinBene seems to take a proactive approach when it comes to security. For example, a series of 51% attacks elsewhere has prompted them to act. A CoinBene exchange review reveals that they have signed a strategic technology partnership with Komodo. This was done to prevent 51% attacks and improve overall security of the crypto ecosystem. This is done through the implementation of parts of what Komodo has to offer in terms of security. Komodo is a blockchain-based platform that provides security, scalability, interoperability and adaptability. The latter uses proprietary technology called delayed Proof of Work (dPoW) that makes it possible to harness the security offered by the Bitcoin network.

A CoinBene exchange review also reveals that they have their own native ERC20 token, namely Coni (Ticker symbol: CONI). It is limited to a total supply of 1 billion CONI tokens. Holders of Coni qualify for 40% profit sharing, exclusive discounts on the trading fee of up to 70% and other benefits. Another neat feature offered by CoinBene is a self-service listing model where interested projects can complete the listing process at CoinBene themselves. CoinBene introduced this self-service listing model to ensure greater efficiency, more transparency and better service. This provides a straightforward process for high-quality projects to get listed.

 

  • 24h Trading Volume

    140213.232 BTC
  • Establish date

    2017
  • Headquater

    Singapore

CoinBene Exchange Review

  • CoinBene Fees Discount

    Pay with CONI

  • CoinBene Deposit fees

    Free
  • CoinBene Trading fees

    Trading fees vary. Full list here.

  • Accepted Payment Method

    Crypto to Crypto only
  • Native Token

    Yes
  • Margin Trading

    No
  • Download Clients

    • Download client
    • Download client

CoinBene Exchange Score Analysis

Coinbene is a Chinese-operated and Singapore-based crypto-crypto exchange, offering reduced fees upon using the exchange’s own token, CONI, and which at some point was the top exchange by trading volume on many cryptocurrency trackers. While the volume that the exchange reports is very high, it is estimated that most of it is faked by the exchange itself using wash trading to inflate the actual numbers and attract users to the exchange. This is quite effective, and aside from the wash trading Coinbene does have a substantial user base that trades on the exchange. No KYC is required to start trading (up to 2 BTC daily withdrawal limit, same as Binance) made possible by Singapore’s flexible cryptocurrency ecosystem. Aside from these benefits, Coinbene has actually been involved in less-than-flattering affairs in the past, such as sexual harassment allegations towards the CEO (who it is now impossible to find online, and to determine if he still works at the company), Unprofessional listing processes, with projects such as ARK paying the absurdly high listing fees then encountering a team incapable of handling technical problems, and security issues with users complaining that login credentials could be easily stolen in the process because the eexchange does not utilize proper encryption methods. To conclude, while Coinbene is home to significant trading volume and an intuitive interface, the exchange has a not-so-flattering track record and lacks transparency in its operations and the team behind it.