CoinEx - Profit sharing Exchange with support of BITMAIN
FCoin was first exchange that introduced Trade driven Mining. Many people were sceptical about it, called it SCAM but new model was working. After FCoin many Crypto Exchanges have started offering same model and CoinEx is one of them.
To explain in short what Trade driven Mining is, basically you get platform tokens (in this case CoinEx token CET) for trading some assets on the Exchange (in this case CoinEx) exchange.
CET token holders get 80% of profit from CoinEx exchange, payed daily. Great.
I love profit sharing exchanges and I have invested in many of them. As a stock trader also, I have always invested into dividend stocks. I simply love to hold and earn and especially in bearish times it is nice to watch how your stash is growing.
There are many Crypto Exchanges offering profit sharing so how we should pick where to invest?
First profit sharing exchanges like KuCoin or COSS were offering 50% of earnings. Competition push this to higher level and now profit sharing Crypto Exchanges are offering 80%( like CoinEx, FCoin, ABCC...) up to 100% like BigONE. That is possible because they are holding also tokens of their Exchanges and they are earning dividends together with other users. To pick where to invest, I try to analyze who is behind the project. Team and investors.
CoinEx has BITMAIN and ViaBTC as investors. This is why basic currency of CoinEx is Bitcoin Cash BCH. I am not fan of BCH but I can't say that BITMAIN (ViaBTC is owned by BITMAIN) is not huge legit company and I believe that they wouldn't support Exchange that is not legit.
CoinEx is working perfect, they are supporting many cryptocurrencies and they pay daily dividends in various cryptocurrencies. If there is less than 10000$ dividend value of some cryptocurrency to distribute daily, they accumulate until 10k is reached. Most traded Cryptos are BTC, BCH, ETH and USDT so most of dividends that you get are in those Cryptos.
Of course, all dividend that I get in BCH is immediately converted to BTC :-)
CoinEx is nice Exchange to use and I believe that this project will be successful. There is also referral program and if you wanna use my referral here is the link: https://www.coinex.com/account/signup?refer_code=5a9x3
This is NOT investment advice and if you want to invest in CoinEx, you should do your own research.
Regards,
and what is the largest profit-sharing exchange?
OKEx is probably largest. They share 50% of their earnings with OKB token holders.
I hold 10,000 CET and unfortunately returns are very minimal. I will make a review about them too however, since there is more coins being mined as well as trading volume declining, returns has been upsetting which reflected on the price.
CoinEx ROI is 0,2% daily and that is not bad. You have ABCC and BigONE with much higher daily return but CoinEx is more trusted exchange...
Yes coinex is more trusted with Bitman and ViaBTC. Arbitraging bots are making 2% daily check my last post, that's where I'm exploring nowadays
Thanks. Will look into it 👍
Interesting project, thanks for sharing and I will keep a lookout for them in the future.
You welcome!
Thanks for sharing my friend.
Thanks for the clear explanation!
As you know I still do believe in KCS, for sure now there are paying out the dividend in KCS.
Reminds me that I have the check what Coss is doing at the moment.
Cheers,
Peter
COSS is unfortunately dead project... They still don't have API, no mobile App, no all major coins... They simply can't compete with KuCoin, CoinEx, BigONE or ABCC. KuCoin is doing OK but getting 50% share instead of 80% or more is not competitive long term...
Always happy to see your post & wise suggestions.
Thanks
most welcome @ cicbar
To listen to the audio version of this article click on the play image.
Brought to you by @tts. If you find it useful please consider upvoting this reply.
oh this is great ... thank you for telling us your knowledge , i like to learn more about everything
Coins mentioned in post:
Good informative article friend.
this is really helpful for me.