The CoinFlex exchange is much more than a spot and margin trading digital currency platform. This is a versatile platform that blends the mechanisms of a universal cryptocurrency wallet with an adaptable investment portfolio with sophisticated passive earnings choices. You may buy and trade Bitcoin, Ethereum, Litecoin, Tether, and other digital currencies and coins on CoinFlex.
Cryptocurrency assets may be easily converted to fiat cash and transferred to plastic cards, account numbers, other best crypto wallets, and digital wallets. A leverage of up to 1:100 is also offered for trading. Flex USD, a stable coin with interest income, is among the exchange’s distinguishing characteristics. The exchange creates an investing package for customers using flex USD and note tokens to give loans to institutional trading businesses on the CoinFlex exchange.
Billing itself as ‘The world’s first physically deliverable virtual currency futures exchange’, Coin Futures and Lending Exchange, or CoinFlex for short, is a Bitcoin & stable coin futures exchange portal with minimal fees and low settlement risk. CoinFlex, supported by Polychain Capital and situated in Seychelles, is highly expected to become a powerhouse in the market despite its recent introduction in February 2019.
CoinFlex volume presently averages $43 million each day, an outstanding figure, given the platform’s infancy. The majority of CoinFlex volume is attributable to its XBT/USDT futures contract. However, its new DOT/USDT product is also gaining traction. The CoinFlex API, which allows for up to 200 orders every second for ultra-high-performance trading, is one of its many distinguishing characteristics, making CoinFlex appropriate for institutional and expert traders.
Let us tell you the most important and unique features that make CoinFlex a top crypto exchange in CoinFlex review:
- DERIVATIVES TRADING:
This platform is a derivatives exchange, which means it focuses on derivatives trading. A derivative is a financial asset whose value is determined by the value of another commodity (typically stocks, bonds, commodities etc.). Derivatives in the digital currency market derive their prices from the prices of various cryptocurrencies. You may trade futures linked to a variety of different cryptos here. CoinFlex exchange also provides its users with the option of trading with leverage. They provide both perpetual (futures without expiration dates) and futures with expiration dates. The highest leverage level available here is for spread trading, where you may leverage your transaction up to 250x (i.e., 250 times the relevant amount).
- COINFLEX LIQUIDATION:
Because CoinFlex exchange is a margin trading exchange, it must follow a liquidation policy to keep its records balanced. This is accomplished by auto-liquidation, in which the exchange buys or sells futures contracts on its own to guarantee that consumers stay within a safe margin ratio. Customers who fall below the minimum safety margin will face a margin call to reduce their leverage and return their margin to safe limits. CoinFlex employs what is termed as the ‘Ramp Up schedule’ to determine what margin ratio users must adhere to, to avoid immediate liquidation.
As the futures contracts approach expiry, the necessary margin ratio rises from 10% to 100% (completely collateralized) at 8 PM on the Wednesday before settlement. After this time, all open trades must be over collateralized, using your spot balance to ensure that the necessary margin ratio is met.
- THE FLEX COIN:
The second unique thing in this CoinFlex review is the FLEX coin. Like many current cryptocurrency exchanges, CoinFlex exchange does have its native coin, known as Flex Coin (or FLEX). Unlike other exchange tokens, though, FLEX currency is offered to traders for free as an extra incentive for utilizing the site. The quantity of FLEX coins distributed daily is based on both a user’s taker trade activity and the exchange’s total qualified taker trade activity.
As a utility token, FLEX currency allows holders to utilize their FLEX to lower their trading costs for the day. Lowering trading costs by 50% for 24 hours takes 100 FLEX, and additional reductions are not presently attainable. Like any other virtual currency, FLEX coins can be purchased and sold on the exchange. The exchange now only has a FLEX/USDT order book, but it hints that FLEX will be exchangeable on other platforms in the upcoming years.
- CUSTOMER CARE SYSTEM:
When it comes to cryptocurrency exchanges, consistent customer care is likely absent. CoinFlex, like other platforms, has a detailed frequently asked questions (FAQ) section as its first line of assistance. Users will discover answers to common questions and easy instructions on trading basics, virtual currencies, and leverage on this page. Aside from that, CoinFlex provides two primary customer help channels: its internal support ticket system and email. However, the platform provides rapid, if limited, help in its Telegram group and may also be contacted via Twitter and LinkedIn.
As a relatively young trading platform, CoinFlex has not yet received any complaints about its customer assistance in any CoinFlex reviews. Furthermore, based on answers in different CoinFlex exchange reviews, Telegram group and Twitter feed, CoinFlex provides relatively rapid customer service, with the executive staff resolving many concerns immediately.
TRADING FEES FOR COINFLEX:
Trading expenses can make or break a derivatives exchange experience, especially when using futures financial instruments with widely varying funding rates. CoinFlex’s fees are reasonable when compared to those of some of the largest cryptocurrency exchanges.
TRADING VIEWS AND COINFLEX CHARTS:
Trading expenses may make or break a derivatives exchange experience, especially when using futures financial instruments with widely varying funding rates. CoinFlex’s fees are reasonable when compared to those of some of the largest cryptocurrency exchanges. CoinFlex contract trading fees are really less expensive than those of Binance, BitMEX, Bybit, Phemex, and even FTX. FLEX coin holders will benefit from much cheaper expenses based on the amount of FLEX they possess because the exchange employs its own exchange token. This isn’t necessary, though, because the costs are still reasonable.
METHODS OF DEPOSIT AND WITHDRAWAL:
All platforms’ tradable assets may be deposited and withdrawn using CoinFlex wallets. The platform supports deposits in USDC and USDT, as well as a range of other digital currencies, which may be used to trade the various financial products offered on the CoinFlex exchange.
The technology also enables for rapid QR-code transfers, which makes the process much easier. All purchases need 2FA for security reasons. To withdraw USDC, USDT, or bitcoin, however, all you have to do is select the appropriate currency and complete the process using standard 2FA features.
Regarding futures on illiquid assets (IFO) and physically deliverable bitcoin futures, the CoinFlex exchange platform provides one of the greatest trading products and benefits in the crypto industry. The trading system prioritizes security protocols and employs well-experienced professionals working behind the scenes to maintain the seamless operation of the whole system to provide its clients with the finest trading experience possible.
In this CoinFLEX review, we’ll look at the features of the trading program, which will be useful for any traders interested in learning everything there is to know about the CoinFLEX exchange. The Bitcoin futures markets have been around for a long time and have aided in the development of a vibrant Bitcoin trading ecosystem (please write Bitcoin with a capital B). Continue reading our CoinFLEX review to learn all you need to know about the digital platform.