CoinFLEX is a centralized cryptocurrency exchange that enables users to trade crypto assets as well as physically delivered derivatives. The platform was launched in 2019 in Seychelles. Its main administrative office is located in Mahe, Seychelles.
CoinFLEX is KYC and AML compliant. It requires its users to complete the KYC identification process before depositing and withdrawing stablecoins. CoinFLEX has restricted individuals from multiple countries from trading on the platform. Some of the restricted countries include the United States, Iran, North Korea, Zimbabwe, and Venezuela. Users from these regions are also prohibited from holding positions or entering contracts at CoinFLEX.
CoinFLEX crypto exchange is available on Android and iOS mobile applications. Users can also access the trading platform through the web.
Markets
CoinFLEX supports spot trading and physically delivered Bitcoin futures. The platform also offers BTC and stablecoins trading with up to 20x leverage. The high leverage sets it apart from its competitors.
CoinFLEX crypto exchange supports various tokens including popular assets such as BTC and ETH. The platform has more than 100 markets. Though there are only crypto-crypto CoinFLEX trading pairs available.
FLEX is the native token that powers the CoinFLEX cryptocurrency exchange. The multi-utility token was launched on July 4, 2019. CoinFLEX crypto price might change due to the whole crypto market fluctuation. Thus, always make sure to check live FLEX price charts.
CoinFLEX offers multiple products. It provides a comprehensive Trading View for spot trading. CoinFLEX spot trading dashboard enables access to Market Trading and Limit Trading. Market Trading allows users to buy and sell digital assets at the readily available market price. Traders can also use the Limit Trading feature to set their minimum and maximum prices. Finally, the platform offers Stop Limit Order, which enables traders to have precise control over when their order should be filled.
Physically delivered crypto derivatives are the distinctive feature of the platform. These contracts can be profitable for commercial, retail, and crypto mining firms. Physically delivered crypto future deals without cash price settlements risk, hence removing price manipulation. CoinFLEX does not have an in-house trading option, which helps the platform achieve high transparency while enjoying low competition.
CoinFLEX offers up to 20x leverage for margin traders. The high leverage gives it a competitive advantage. The platform also offers up to 250x Spread Market for delivery and perpetual. Additionally, CoinFLEX offers a Spot and Perpetual Lending Market (Repo) to enable users to boost their stake for trade.
CoinFLEX exchange fees are dynamic, taking into account the maker-taker and CoinFLEX trade volume factors. Users with high trading volume for the last 30 days enjoy lower fees. For example, trading volume below $2 million attracts a 0.08% taker fee for derivatives and spot trading. There is a zero maker CoinFLEX crypto fee for these trade volumes.
Trade volumes worth $2 million and above, on the other hand, enjoy -0.03% makers fee for derivative trades, and zero maker fee for spot trades. The taker fee for this volume is 0.04% for both – derivatives and spot trading. Besides, FLEX token holders enjoy fee discounts when they transact in FLEX.
Other Services
FLEX DAO enables the platform users to stake their digital assets and generate passive income in form of decent interest. The longer the staking period, the greater the reward stakers earn. The DAO pays out the initial asset they stake and the earned reward at the end of the staking period.
CoinFLEX cryptocurrency exchange also has an affiliate program that rewards users who refer their friends to the platform. A referral bonus is another source of passive income the platform offers its users.
Besides, CoinFLEX Trade Engine APIs empower users with programmatic access to control aspects of their accounts and place orders on CoinFLEX’s trading platform.
About the Company
CoinFLEX cryptocurrency exchange was founded by Mark Lamb and Sudhu Arumugam in 2019. It became the world’s first physically delivered cryptocurrency futures exchange. The exchange is headquartered in Mahe Seychelles.
The platform has been working to introduce features that would improve users’ experience on the platform. In June 2020, the platform launched the Centrally Cleared and Traded Repo Market. This move bridged the gap between directional perpetual traders, spot traders, borrowers, and lenders.
The platform has registered remarkable growth since its launch, which has seen total CoinFLEX volume increase remarkably. The record daily CoinFLEX trade volume was recorded on February 25, 2020. The platform registered a $443.32 million 24-hour trade volume.
The exchange's management team includes Mark Lamb, the co-founder of the platform. Mark Lamb worked at Coinfloor, one of the leaders among crypto exchanges in the United Kingdom. He has wealth of knowledge and experience in IT, trading, and marketing. He has worked in the crypto area since 2011.
Sudhu Arumugam, the other co-founder, boasts over 20 years of derivative trading and risk management experience from banks, hedge funds, and crypto exchanges across Europe and Asia. He has a background in income and equity derivatives.
