CoinW
⭐ Trust Score: 8/10
🏆 Arbi.TEAM 6/10
📋 Basic information
📊 Trading statistics
📖 About exchange
ℹ️ CoinW — a global centralized cryptocurrency exchange founded in 2017. The company's headquarters are located in Dubai, United Arab Emirates, while its legal registration is often indicated as Saint Vincent and the Grenadines or the British Virgin Islands. The platform serves millions of users worldwide, offering a wide range of trading products, including spot, futures, and ETFs. Despite active global expansion, the exchange has a number of geographical restrictions related to regulation.
🪙 Trading Products and Tools
CoinW offers a comprehensive set of trading tools suitable for both beginners and experienced traders, including complex derivatives and passive income strategies.
Spot Trading
Over 400 cryptocurrencies on about 1000 trading pairs. Dozens of fiat currencies are supported for deposits.
Futures Trading
Leverage up to 200x on perpetual contracts (USDT-M). Inverse contracts and leveraged tokenized ETFs are also available.
Passive Income and Automation
Staking (Simple Earn), auto-investing (Auto-Invest), copy trading, and trading bots (including grid strategy).
Derivative Instruments: In addition to futures, the exchange offers unique products such as leveraged ETFs, which allow amplifying price movements without the risk of margin calls.
Advanced Order Types: The platform supports many advanced orders, including stop-limit, trailing stop, OCO (One-Cancels-the-Other), and iceberg.
P2P Platform and OTC: Direct transactions between users and over-the-counter trading (OTC-Desk) for large volumes.
Fiat Gateways: Supports deposits and withdrawals via bank cards (Visa/Mastercard) and bank transfers in over 40 currencies, including rubles.
🔐 Security and Support
CoinW's security is based on a multi-layered system that includes both technological measures and licensing. At the same time, there are user reviews about problems with support and withdrawals.
Protection Measures
- Fund Storage: The majority of assets are stored in cold wallets using multi-signature (MultiSig) and MPC (Multi-Party Computation) technology.
- Historical Incident: In 2023, a hot wallet hack occurred for approximately $13 million through a subsidiary service; however, the losses were fully covered by the exchange.
- Account Protection: Mandatory two-factor authentication (2FA), trading password, IP address monitoring, and withdrawal address whitelist.
Regulation and Licenses
Claimed Licenses: The exchange claims to have registrations and licenses in several jurisdictions, including Canada (FINTRAC), the USA (MSB with FinCEN), Lithuania, Singapore, Australia (AUSTRAC), and Saint Vincent and the Grenadines (SVGFSA).
Important Context: Having an MSB registration in the USA is not permission to serve American users. Some reviews question the completeness of regulatory compliance.
Support
Support service is available in multiple languages, including Russian, via online ticketing. User reviews indicate insufficiently developed customer support and possible delays in resolving issues, especially those related to fund withdrawals.
💳 Deposits and Withdrawals
CoinW offers diverse methods for working with fiat and cryptocurrency. A key feature is optional verification (KYC) for basic access to trading.
Verification (KYC)
Not required. Trading is available without identity verification. Levels: C0 (no KYC, limit 2 BTC/day), C1 (basic verification, 10 BTC/day), C2 (full verification, up to 100 BTC/day). KYC is only required for using fiat cards.
Account Funding
Fiat: Visa/Mastercard bank cards (through partners), bank transfers, P2P platform. Many currencies are supported, including RUB, USD, EUR, UAH, and others.
Cryptocurrency: Deposits are available for all supported assets across various networks. No deposit fees.
Withdrawals
Withdrawal of cryptocurrency to external wallets. Fees depend on the asset and network. Fiat withdrawal is available, probably through partner services, P2P, or bank transfer. User reviews include complaints about delays in fund withdrawals.
👍 Pros and Cons
Based on official information, reviews, and user feedback, the key strengths and weaknesses of the platform can be highlighted.
Advantages
- ✅ No Mandatory KYC: Ability to trade with high limits without identity verification.
- ✅ Wide Range of Tools: Full spectrum of products: spot, high-leverage futures, ETFs, copy trading, bots.
- ✅ Extensive Fiat Support: Dozens of fiat currencies and numerous deposit/withdrawal methods.
- ✅ Competitive Trading Fees: Low fees: 0.1% for spot and 0.01%/0.06% (maker/taker) for futures.
- ✅ Transparency in a Critical Situation: Reimbursement of user funds after the 2023 hack.
Disadvantages
- ❌ Geographical Restrictions: Complete ban on serving users from a number of major countries (USA, Canada, etc.).
- ❌ Reliability Concerns: User reviews indicate problems with fund withdrawals and insufficient development of the support service.
- ❌ Ambiguous Regulation: Claimed licenses are not always equivalent to permission to serve residents.
- ❌ Past Security Incident: The fact of a hack in 2023, even though losses were covered, reduces the overall impression of security.
💡 Tips for Beginners
Start Without KYC, But Be Cautious
You can start trading without verification. If you plan large volumes or card usage, complete KYC to increase limits and access all functions.
Activate All Security Levels
Always enable two-factor authentication (2FA), set a trading password, and a withdrawal address whitelist.
Test Withdrawal with a Small Amount
Before large operations, check withdrawal speed and fees with a small amount to avoid surprises.
Study Availability in Your Region
Ensure your country is not on the restricted list to avoid account blocking.
🌐 Interface and Accessibility
Interface: Website and mobile apps for iOS and Android are fully translated into 18 languages, including Russian, English, Spanish, Chinese, and others. Trading charts operate on the TradingView base.
🌏 Restricted Countries and Territories
CoinW blocks access to users from the following countries and territories: According to information from reviews, this is due to regulatory requirements and sanctions.
Major Countries Under Complete Ban:
- USA (including all states and territories)
- Canada (in all provinces)
- China (mainland part)
- Hong Kong Special Administrative Region
- Japan
- Singapore
- United Kingdom
Other Countries and Regions with Restrictions:
- Countries under international sanctions: Iran, North Korea (DPRK), Syria, Cuba, Sudan, Iraq.
- A number of other countries, including: Afghanistan, Myanmar, Libya, Somalia, Venezuela, and others.
- Specific regions of Russia (in particular, Crimea, Donetsk People's Republic and Luhansk People's Republic).
Important Note: The exchange actively applies geo-blocking, IP address tracking, and compliance filters. Attempts to bypass bans using a VPN, according to official policy, may lead to account suspension. Before registering, it is recommended to check the current terms on the official CoinW website.
💱 Reliability Analysis of CoinW for Arbitrage Operations
CoinW is an exchange of medium reliability for cryptocurrency arbitrage. In favor of this, we can cite the following facts based on our trading experience:
Important Problems for Arbitrage on CoinW
Withdrawal Delays: Sending crypto is not always processed on time, there are delays. This is a critical risk for an arbitrage strategy.
Withdrawal Fee Peculiarities: The fee for withdrawing some coins is charged in the native tokens of the network (e.g., BNB token for BSC), which complicates profitability calculations.
API Issues: The exchange's API does not provide information about withdrawal fees. Previously, this issue was resolved, but now (after the CoinW website update) the scanner does not know the withdrawal fee sizes. In this regard, the question arises of excluding the exchange from our scanner.
📈 Summary on Arbitrage
Overall, the exchange is suitable for arbitrage, but non-standard situations sometimes occur. Be careful when withdrawing funds, pay attention to the fee amount and the currency for covering it. Due to API problems and possible withdrawal delays, increased caution and manual checking of conditions before a transaction are required.