How CoinEx was recognized by the market

How CoinEx was recognized by the market. The year 2021 marks an important milestone in the history of cryptocurrency. In 2021, the cryptocurrency market caught the attention of traditional investors. From PayPal, which supports Bitcoin through auction NFT at auction houses like Christie’s and Sotheby’s to the explosion of Metaverse properties and GameFi, digital assets have gradually gained attention in all walks of life, and the bull market continues to offer incredible returns for seasoned investors even in the crypto space.

There is no easy win for investors in the cryptocurrency industry, which is an immature market that is often hit by government regulations and volatile factors. As a result, not all investors are fortunate enough to enjoy the benefits of crypto assets. For example, they can suffer huge losses from hacked DeFi contracts, hacked exchange funds, shitcoins, etc.

CoinEx, a cryptocurrency exchange founded in 2017, has proven itself and built a solid reputation. In the four years since its inception, the exchange has had a remarkable track record, delighting its loyal users and attracting many newbies to crypto.

From a mining pool to a cryptocurrency exchange

Talk about it CoinEx, let’s talk about ViaBTC Group and ViaBTC Pool first. ViaBTC Group was founded by Haipo Yang, a young entrepreneur who started working with Bitcoin in 2011. Mr. Yang’s experience as one of the earliest Bitcoin investors and supporters certainly laid a solid foundation for the crypto startup he later built.

In 2016, Mr. Yang began developing a mining pool called ViaBTC, which launched just two months later. At the end of December 2017, he founded a cryptocurrency exchange called CoinEx.

CoinEx was founded at the height of the Bitcoin bull run in 2017, but it wasn’t a good time. When the crypto sector got into a bear phase in 2018, many startup teams failed and only a few survived. The fact that CoinEx is still active today proves its particular strength. Four years later, CoinEx has built a wide range of products including spot trading, contract trading, finance, margin trading, AMM and mining. With the support of multiple languages, the exchange has now become a global provider of all-inclusive cryptocurrency services.

From 2017 to 2021, many exchanges went bankrupt or fled. In this regard, many crypto users are wondering what is driving CoinEx to keep growing. All in all, the success of  supported by the following factors:

1. Excellent technology team

At their core, cryptocurrency exchanges offer two basic services: asset custody and trading. At the heart of all exchanges, these two services are built on technology that is of paramount importance in the crypto space. We know many famous exchanges have been hacked. While all of these exchanges compensate their users for these hacked cryptocurrencies, such incidents indicate poor security awareness, poor management, or insufficient technical expertise.

CoinEx was founded in 2017 and is supported by the ViaBTC Pool team, which was independently built up by CoinEx founder Haipo Yang within three months and has been running stably to this day. That explains his technical ability. Meanwhile, CoinEx has never suffered a security breach since its inception. For all of this, we have every reason to trust the technical and internal management of CoinEx.

2. CoinEx’s commitment to products and services

Although the technical and security capabilities of a cryptocurrency exchange form the basis of its services, users are more interested in the ease of use of its features, the ease of use of the new attractive features, and the quality of the tokens listed on the platform. In this regard, CoinEx keeps abreast of market trends and continues to offer features that attract users.

In the early days, CoinEx only offered spot trading. In order to meet the trading needs of different users, CoinEx now also supports contract trading, margin trading and financial products. In addition, prioritizes the user experience. CoinEx, for example, has perfected functions such as Take Profit & Stop Loss and PNL analysis. At the same time, CoinEx has applied strict screening criteria for the quality of the tokens listed on the exchange to ensure that users can benefit from valuable cryptocurrencies.

3. Enable CET for the benefit of CoinEx users

CET is a platform-based token issued by CoinEx in 2018. CET holders can enjoy many benefits in the CoinEx ecosystem, such as: B. Discounts on Transaction Fees. In addition, CoinEx has also implemented a plan to buy back and burn CET. The exchange spends 50% of its fee income every day on buying back and burning CET, which makes it deflationary. Therefore, if the users’ transaction volume increases in the case of a bull market, the number of CETs burned on which the price is based also increases. In the meantime, CET holders can benefit from rising token prices.

According to current figures, the CET price has increased tenfold since the beginning of 2021. While it outperforms most mainstream cryptocurrencies, CET has also drawn a lot of attention from crypto investors.

4. Build a global presence

CoinEx is one of the few mainstream exchanges that has built a global presence. In order to be able to offer services to users around the world, the exchange has been planning its global expansion since day one.

Relying on its strong operations and maintenance team and extensive expertise, ViaBTC has served global miners for many years. In fact, many ViaBTC miners are also CoinEx users, which is one of the driving forces behind CoinEx’s quest for global fame.

Currently, CoinEx has made a remarkable achievement in its globalization process. The platform currently supports multiple languages ​​and offers 24/7 service. The company is already well represented in markets such as Southeast Asia, the Middle East, South America, Japan, Korea and Russia.

5. Growing CSC ecosystem for the public chain

In 2021, crypto inventions like DeFi, GameFi, Metaverse and NFT caused a crypto boom that presented both opportunities and challenges for CoinEx. For example, the further development of DeFi has made it difficult to operate a centralized exchange. In addition, new crypto technologies have also influenced the business of cryptocurrency exchanges and thus changed the market landscape.

CoinEx has long been aware of DeFi’s challenges and has therefore decided to develop its own ecosystem through CoinEx Smart Chain (CSC). As a powerful decentralized public chain that supports EVM, CSC offers fast transactions, low transaction fees and compatibility with EVM (Ethereum Virtual Machine). With CET as gas, the public chain enables developers to build their own decentralized applications on the blockchain.

In the midst of the DeFi boom of 2021, CoinEx has also made investments in DEXs, lending and borrowing, aggregators, DAOs and cross-chain bridges, and sought to include these emerging sectors in the CSC. At the moment, CSC has launched its mainnet and launched the CSC Global Hackathon Foundation and a number of DApp enablers to provide funding and marketing support for outstanding projects. This extensive incubation process has also drawn in many top notch developers and loyal crypto users and breathed life into the public chain.

Conclude

Given the fierce competition in the highly cyclical crypto market, only the strong can survive long that can withstand the tests of the bull and bear markets. This is especially true for exchanges that serve crypto users. CoinEx has seen a bull and bear phase and has seen sustained growth over the past four years based on its cryptocurrency platform and strong capabilities. The long-term commitment of the stock exchange is also a key success factor.