In this article, we will explain the exchanges that made the Bitcoin cache “CoinEX” the basic currency.
CoinEX is a cryptocurrency exchange that uses Bitcoin cash as the base currency while a number of cryptocurrency exchanges make Bitcoins the main base currency .
Why did you take all the time to make the Bitcoin cache the basic currency?
In this article, I explain the reason why CoinEX is supported and how to use it!
Introducing the three features of CoinEx!
CoinEX is an exchange established in the UK by Chinese businessman Hypo Yang in December 2017.
Here, I will introduce you with features to know what exchanges CoinEX is.
Features 1. BCH (Bitcoin cache) is used as the base currency
CoinEX is an innovative exchange with the world’s first BCH (Bitcoin cache) as the base currency.
- What is the key currency?
- Broadly speaking, it is the currency which becomes the standard worldwide (internationally). In a narrow sense, it is a currency that can “pay”.
For example, a combination called “currency pair” called ETC / BTC at the time of settlement can be made, but in that case, the former ETC will be the “settlement currency” that he wishes to purchase and the latter BTC (Bitcoin) will purchase settlement currency It becomes “base currency” to pay for.
In general, the basic currency in the cryptocurrency area refers to BTC (Bitcoin).
In CoinEx, you can also purchase Bitcoins and other alto coins with Bitcoin cash, which has the merit of expanding the range of transactions.
As well as other exchanges, Bitcoin, Ethiary, USD T (USD Tether) are also the core currency, so you can correspond to many currency pairs.
CoinEX used the Bitcoin cache as the basic currency because Bitcoin cache has advantages over Bitcoin.
Reason why Bitcoin cache is supported · Block size is as large as 8 MB maximum
· Remittance speed is fast
· Commission is cheap
In the first place, Bitcoin cache is the currency that was born in August 2017 when Bitcoins were hard forked to solve the Bitcoin scalability problem.
The Bitcoin cache has 8 times the capacity of the Bitcoin · 8 MB and increases the block size, the processing speed gets faster and fee reduction is realized.
In this way, Bitcoin cache solves the problem in Bitcoin and is supported as “currency beyond Bitcoin”.
Feature 2. The token “CET token” issued independently by CoinEX is amazing!
“CET token” is ERC 20 which used the block chains of the etherium, it is a unique currency which can only be used with CoinEX.
Overview of CET
It is surprising that the total issue volume of 10 billion sheets!
It is drawing attention because it brings various nice benefits when having CET.
- Benefits of possessing “CET” tokens
- What you are doing since July 1, 2018
· Transaction fee 100% reduction by trading mining (daily)
· Distribute 80% of the exchange profit (daily)
· Burn back 20% of profit every quarter
· Deduction of fee
Voting rights of the new token and operation of CoinEX etc etc etc. etc
- Added new rule from August 14, 2018
· Limit order mining (daily)
In CoinEX’s trading mining, the transaction fee is real free by reducing the transaction fee of 100% paid in other currencies such as Bitcoin cash with the CET token.
And on August 14, 2018, a new compensation system called “limit order mining” was added as a new rule.
A system that pays 10% of the daily trading mining criterion amount to those who made more limit orders.
This system has the aim of increasing the liquidity of the transaction volume and making the board thicker because people who make transactions over a longer time get rewards.
In this way, CoinEX has added value added to its own currency CET.
Feature 3. Huge mining pool “ViaBTC” is operated
“ViaBTC” is a huge mining pool that is based in China.
As of October 10, 2018 how a Bitcoin boasts hash power in the world.
Source: mining pool distribution
CEO Yang Haipo is the founder of CoinEX, who led the birth of a Bitcoin cache.
There is a sense of confidence so much that we can expect further growth of Bitcoin cash.
Check out the reputation of CoinEX · word of mouth
#CoinEx $ CET $ ULT Ultiledger New listing event
Payment 9/18 12 o’clock – 9/25 12 o’clock
Aeroro 9/19 at 19 o’clock
Trading competition Competition 9/19 12 o’clock – 9/26 12 o’clock
I have not shown any details yet, but $ CET holder and $ XRP holder and ULT holder have a total of 2 million ULT aerodyn
Good timing! !
Let’s wait for the next report! pic.twitter.com/ uFkryk 9 Bq 6
– Norihiro @ CoinEx & CET information (@ norihiro_crypto) September 18, 2018
【CoinEX (coin ex) exchange】 Finally it starts explosion at the beginning of dividend from 7/1 https://t.co/5lLLtm5Xin
– cashbit (@yeelenet) September 23, 2018
September 24 $ CET Approximately 2.28 yen
Today’s dividend rate 0.16%
An average of 0.17% for 10 days
If you have 100,000 CET, the dividend profit for today is about 365 yen.
Distribution was distributed in # cryptocurrency such as $ BCH $ BTC $ CET $ USDT. #CoinEx Mining progress
It is now up to 41.6%
The remaining 58.4% and the first dividend ended https://t.co/gukQVCjKZl
– CET Dividend Report (Inactive / scheduled to be restored in CoinEx related applications) (@ cet_bch) September 24, 2018
Well Simply think # CET holders have only the merit # CoinEx people are serious love # erodro w
However, if you do it in the current market, it will be strange to do BTC trading
I think that this one is cheap
It’s simple, but it makes me tired BTC
– Pepsiman (@ virtualcoin_man) September 18, 2018
Illustrate how to register CoinEX!
Let’s explain how to register CoinEX in an easy-to-understand manner with illustrations.
It’s a very simple thing, so you can register for as long as 5 minutes!
Register to the site
First off to the CoinEX official website.
① Scroll the language in the upper right corner of the screen and set it to “Japanese”. It is also a nice thing to be compatible with Japanese!
② Please enter the mail address you want to register.
③ Click “Take a confirmation code”. Then, because it becomes the above screen, slide it and adjust the piece of the puzzle.
④ Since the confirmation code (6 digit number) is sent to the e-mail address you registered earlier, enter the confirmation code.
⑤ Input password. I recommend you to set a complicated password so that security is strengthened.
⑥ Please re-enter your password.
⑦ Do not write the invitation code. Once you accept the CoinEX User Service Agreement, please click the checkbox.
⑧ Let’s click “New registration”.
Your account registration is now complete!
How to set security (2 step verification)
There are two kinds of 2-step authentication with CoinEX, “mobile authentication system using application” and “telephone number authentication” authenticating with SMS, but it is a good idea to set both.
- Security (2 step verification) setting procedure
- Mobile authentication system registration → phone number authentication → 2-step authentication frequency setting
So, let’s explain the setting method in order!
Mobile authentication system
① E-mail of registration completion will be delivered to registered e-mail address. Click on the site listed there and you will be taken to the CoinEX account page. Click “Security” on the left side.
② Click “Associate Authentication System” in the left column of “Associate Google Authentication System”.
③ As the above screen will come up, click “Take a confirmation code”.
④ Since the confirmation code (6 digit number) will reach the registered e-mail address, input it
⑥ Click “Submit”.
⑦ Please download the application to your mobile phone.
We will adopt “Google authentication system” here.
⑧ Activate the downloaded application and scan the barcode.
⑨ Since the 6-digit verification code is displayed on the screen of the application, please input it.
⑩ Click “Associate”.
This completes registration of “Google authentication system”.
Phone number authentication
① Click “Security” from the left column.
② Click on “Associate” to the right of “Associate phone number”.
③ Since it will be the above page, scroll the country name to “Japan”.
④ Enter your own mobile number in the right-hand column where you filled in the country name.
⑤ Click “Get SMS authentication code”.
⑥ Then the authentication code (6 digit number) will be sent to the phone number (SMS) you entered earlier. Please enter the authentication code in the “6 digit SMS authentication code” field.
⑦ Click “Submit”.
Phone number authentication is complete!
Determine the frequency of 2-step verification
I have set up the 2-step verification registration method so far, but the next will explain how to decide when to do the 2-step verification crucial.
① Click “Security” on the left.
② Click “Change” to the right of “Transaction Approval”.
③ Then the screen above will be displayed, so please check the frequency you would like to do 2 step verification.
④ Click “Confirm”.
This completes the 2-step authentication setting!
Since about two-step authentication is more frequently security is strengthened, it is recommended “every time two-factor authentication.”
How to verify your identity (KYC)
There are three stages of identity verification, and the withdrawal limit of 24 hours changes.
① Register for Google authentication or telephone number authentication → 10000 USD
② Principal Confirmation – Beginner (Identity verified at site) → 1,000,000 USD
③ Principal Confirmation – Luxury (Applicant verified by application) → No limit
Here, we will set up an identity confirmation – beginner level.
① Click “Information Details” from the tab on the upper right.
② Click “Beginner” in the column to the right of “Identification”.
③ Click on “Identity Confirmation” as it will be the above screen.
④ First of all, scroll the nationality into “JAPAN” and enter the name.
⑤ Passport is valid for “Identity Confirmation Documents” (there is a case that a driver’s license passed) Enter “Passport number”.
⑥ Please take a picture and upload it so that your face picture and personal information can be clearly seen.
⑦ Write “CoinEX” on the form and fill in “submit date” below it.
⑧ Hold the paper and passport in your hand and take a picture of the face.
⑨ Upload the previous photo to “Select file”.
⑩ Please acknowledge that the content you registered so far is yourself, please check. Finally click “Submit”.
Your identity is now confirmed!
Simple! Introduction of basic usage of CoinEX (deposit / withdrawal / buying method)!
How to send money to CoinEX (payment method)
Since POINT CoinEX does not deal with Japanese yen, it must first be replaced with the Bitcoin · Bitcoin cache · etherium which is the basic currency.
① Click “Wallet” from the tag on the account page.
② When you scroll down, the corresponding currency names are listed, so click “deposit” of the currency name you want to deposit. (I will do it at BTC this time)
③ Go to the deposit screen and the wallet address and barcode will be displayed, please scan the copy or barcode.
- Payment attention point
- The displayed wallet address corresponds only to the currency you selected earlier (BCH this time). There is a risk of loss, so be sure to check it. Also, since the minimum deposit amount is stated, you can not make a deposit less than that. The minimum deposit amount will fluctuate, so please check each time.
④ Please remit from the currently held exchange or wallet to the Wallet address you copied or scanned.
Your deposit is now complete!
How to remit money from CoinEX (withdrawal method)
In CoinEX, we send remittance by dividing senders into two types.
· Ordinary remittance · · · Send money to an external wallet or an external address
· Internal remittance · Remittance to CoinEX’s internal wallet
The way of ordinary remittance
① Please open the “Wallet” screen in the same way as when depositing. Click “withdraw” to the right of the currency name you want to withdraw.
② Please select “ordinary remittance”.
③ Click “Current Address”. Then you will see “Add new address” below, so click.
④ Then the above screen will be displayed, so please enter the address of the recipient.
⑤ As for acquisition method of authentication code, you can choose either “phone number authentication” or “2 step authentication”. This time “telephone number certification” will do. “Phone Number Authentication” Clicking on it will display “Get SMS Authentication Code”, so click.
⑥ Enter the authentication code that arrived at the SMS.
⑦ Click “Confirm”.
⑧ You will return to the previous screen. Please select the destination address you entered earlier.
⑨ Enter the quantity you want to send. “Remittance charge” is displayed below that, so let’s check it together. BCH is a remittance charge free!
⑩ Choose either “Enter phone number” or “Google 2 step verification”, obtain the authentication code and enter.
⑪ Click “Drain now immediately”.
How to do internal remittance
① Click “Internal remittance”.
② Input the telephone number or mail of internal destination.
③ Please enter the quantity you want to send.
④ Acquire the authentication code by “Phone number authentication” or “Google authentication” and input.
This is a remittance completion!
How to buy and sell cryptocurrency at CoinEX
① Click “Transaction” from the upper tab, it will be like this.
② First of all, let’s choose currency pair. Make a currency pair on the left side of the screen. This time I will try purchasing a Bitcoin with a Bitcoin cache. Since the upper tab is the base currency, please select “BCH” and select “BTC” where the brands under that currency line up. This made a pair of “BTC / BCH” currency.
CoinEX has the following three types of trading laws.
· Limit order
· Mandatory orders
· Stop limit orders
I will explain the trading method one by one.
In case of limit order
① Click “Limit” on the tab.
② Select the desired amount from the selling order and click or enter the desired amount directly into “price”.
③ Enter the quantity you want to buy.
④ Click “Buy BTC”.
* When you want to sell, select the desired selling price and click “BTC selling”.
In case of a successful order
① Click “Takeda” from the tab.
② Since you will buy orders (BTC) in order of low price at that point, enter the amount (BCH) you wish to trade for that price.
③ Click “Buy BTC”.
※ If you want to sell, you will sell at the same time in order of higher price (BTC) at that point so enter the quantity (BTC) you want to sell and click “BTC Sell”.
In case of stop limit order
- What is a stop limit order?
- Decide the order price, buy order “Sell if over trigger price” In case of sell order “Buy if less than trigger price” will be contracted. The difference between the order price and the trigger price is a profit, and it is a trading method which does not give an agreement which becomes disadvantageous.
【In case of buying】
In the case of stop limit, both “selling” and “buying” are done in one order. ① Click “stop limit”.
② Enter the order price. This is the “price of buying”.
③ We will decide the trigger price at a price higher than the order price. This is “price of selling”.
④ Enter the quantity of BTC you want to trade.
⑤ Click “Buy BTC”.
The order price (limit) is “price of selling”, the order of “selling” and “buying” is reversed.
① Enter the order price. This is “price of selling”.
② We decide the trigger price at a price lower than the order price. This is the “price of buying”.
③ Enter the quantity you want to trade.
④ Click “BTC Selling”.
【Exchange keeping growing with BCH】 CoinEX Summary
I think that it can be expected in the future as an innovative exchange that adopted the world’s first BCH as the basic currency.
In addition, CET token which is its own currency also shows various strategies and flexible correspondence with various benefits to users.
I also wanted a CET token.
That’s why I’m looking forward to a new trend in CET token and CoinEX.
Author: House Cat – Source Post: https://crypto-times.jp/how-to-coinex/
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