CoinBene Review 2020

A trading cryptocurrency guide must provide reviews of all of the top crypto exchanges out there, so that you can find the best cryptocurrency exchange site for you. This review of CoinBene consists of four parts: general information, fees, deposit methods and security.

General Information

CoinBene is a cryptocurrency exchange based in Singapore. Singapore is one of Asia’s biggest birth givers to cryptocurrency exchanges. CoinBene, however, is one of the world’s leading trustworthy crypto assets platforms with users coming from more than 200 countries worldwide.

This exchange also has a mobile application. You can download it for free on AppStore or Google Play.

US-investors

US-investors may not trade here. The reason for excluding US-investors are primarily regulatory reasons. The US-legal regime imposes obligations on many companies accepting funds from US-investors. Don’t be too sad though, there are other venues that offer the type of trading this exchange does. Use our Exchange Finder to find out which alternatives you have.

Coinbene Trading View

The below is a picture of CoinBene’s trading view. It follows a format that most cryptocurrency investors are used to with the diagram in the middle, and buy/sell-boxes low far right. The trading view seems intuitive to us, but you should always decide what suits you best based on your own personal preferences.

CoinBene Fees

CoinBene Trading fees

There are a number of top crypto exchanges who don’t charge different fees between the takers and the makers. Usually, you say that such exchanges’ trading fees are “flat”. CoinBene is one of those exchanges. It offers a flat trading fee of 0.10%. The exchange does accordingly not distinguish between takers and makers. The flat fee of 0.10% is below the industry average. The industry average is arguably around 0.25%.

Users at this exchange can also pay an even lower trading fee. This is possible if they hold a sufficient amount of “Coni” (trading symbol CONI). Coni is CoinBene’s own cryptocurrency. This model is to incentivize people trading at the exchange to buy a large amount of Coni. If you exceed the ownership threshold required (we have not been able to find information on the number of Coni-tokens required), you receive a 50%  discount on all trading fees during year 1, 20% discount on all trading fees during year 2 and 10% discount on all trading fees during year 3 (no discount from year 4).

The fees at this exchange constitutes a competitive advantage against the majority of other top crypto exchanges in the market and maybe even makes this exchange the best cryptocurrency exchange site for you.

CoinBene Withdrawal fees

CoinBene only charges the network fee when you make a withdrawal and does not charge anything on top of the network fees. This withdrawal fee model is also far below the industry average. Good job, CoinBene!

Deposit Methods

CoinBene does not accept any other deposit method than cryptocurrencies, so new crypto investors are actually restricted from trading at this exchange. If you don’t have any crypto but want to start trading here, you will first have to purchase cryptocurrencies from another exchange and then, as a second step, deposit them at CoinBene.

To find another exchange accepting purchases with fiat currency (regular money), just use our Exchange Finder. The rest is easy!

CoinBene Security

This exchange’s security score is F, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is below industry average when it comes to top crypto exchanges. However, it should be noted that in absolute numbers, F is the most common score among all cryptocurrency exchanges in our Cryptocurrency Exchange List. CoinBene also has a lot of other security features in place to the benefit of its users.