CoinW Review 2025

Our Verdict

🏢 CoinW is a non-KYC crypto trading platform, established in 2017 in Dubai, UAE.

🪙 Offers around 370 coins and trading pairs.

🧑‍💻 User-friendly interface and simplified fiat-to-crypto options make it a good choice for beginners.

🤖 Supports auto and copy trading, with various bots and strategy replication features.

🔐 Was hacked in 2023 and lacks insurance and Proof of Reserves

💳 Fiat deposits are only available via third-party providers like BANXA and Mercuryo.

💰 Maintains a flat 0.2% trading fee for both makers and takers, on par with the industry average.

CoinW Pros and Cons

Is CoinW Right for You?

Traders have different needs: some prefer simple apps for quick trades, while others look for advanced tools such as leverage or social trading. We classify traders into seven main groups and assess how well exchanges meet their specific requirements. CoinW is not ideal for margin trading, as it does not provide this feature.

Here is our verdict for the other trader groups:

Supported Countries and Regions

CoinW is a non-KYC platform that relies on third-party payment gateways for fiat deposits, making it accessible to a broad user base.

However, CoinW’s partners have their own geographical limitations. For instance, Mercuryo is not available in countries like Sudan, Venezuela, and Tunisia, potentially causing issues for users in those regions. Additionally, the platform has its own list of restricted regions as it strives to stay compliant with local laws.

CoinW Bonuses and Special Offers

Both newcomers and existing users can profit from a variety of promo campaigns accessible through the Rewards Hub on CoinW. During my tests, I was offered a 10 USDT reward for successfully completing different missions, such as performing the first Futures transfer.

CoinW features a Lucky HODL lottery that enables its participants to win crypto rewards for staking different assets. Users usually get to stake BTC, ETH, and USDT, while the winners are randomly selected from all the issued tickets.

Join CoinW using our affiliate link and get a bonus.

CoinW Background

Establishment: CoinW was founded in 2017 in Abu Dhabi, United Arab Emirates. According to business resources like LiquidityFinder, it has also established offices in other regions, including Singapore, Turkey, Japan, the Philippines, and Malaysia.

Leadership: Various business resources claim that David Bai is the company’s CEO. However, the official website or LinkedIn do not provide proof, and there is no information about his background.

Security & Transparency

Verified Trusted Scores

When evaluating cryptocurrency exchanges, we consider their rankings from independent security platforms like Certik or Cer.Live. These auditors assess various factors, including cybersecurity, traffic, and liquidity.

CoinW’s ratings are average, largely impacted by the security incident in 2023, the absence of insurance, and Proof of Reserves. Additionally, the modest rewards from its bug bounty program contribute to preventing a higher rating for the platform.

Cyber Security Measures

The desktop app is equipped with a password, 2FA via email, phone, and Google, a Trading Password, and a Passkey. The mobile app supports the same security measures and also offers additional protection with biometric authentication and Pattern Unlock.

General Reliability

CoinW runs a bug bounty program via the audit platform HackenProof but offers rather modest rewards. The maximum reward for reporting critical vulnerabilities is $2,000.

Corporate Communication Structure and Transparency

The official website doesn’t provide any information about the company’s CEO, David Bai. Only a few business resources mention his name but do not provide any information about his background. However, the exchange is active on key social platforms like Twitter (X), and LinkedIn, and has an active community in its Telegram group.

Know You Customer (KYC)

KYC is optional on CoinW. Non-verified users can withdraw up to 2 BTC daily, but they face significant restrictions on fiat-related activities. To enhance their capabilities, users must complete a three-tier verification process, with each level requiring additional information.

During my tests, I reached Level 3 easily and gained access to full functionality. The last level of verification was only available through the mobile app but didn’t require any additional actions. The entire process took less than an hour.

Is CoinW Safe to Trade With?

Our research reveals that CoinW has a low level of security due to the absence of insurance and Proof of Reserves to safeguard customers’ assets. Additionally, it has recently suffered a significant breach, and the rewards for its bug bounty program are modest, even for critical vulnerabilities.

The platform holds an SVGFSA license from St. Vincent and the Grenadines to comply with global regulations. However, it has no official permissions from other major regulators, like the FCA. The exchange may still appeal to active traders who hold the majority of their assets in external wallets.

Trading Experience

Trading Test

For our trading test, we thoroughly evaluated the CoinW platform. Our process included signing up, completing the KYC verification, logging in, depositing funds, and making withdrawals. We also tested the trading functionalities by exploring different trading pairs and conversions and assessed the associated fees for transfers and withdrawals. This comprehensive test allows us to provide an informed and reliable review of the exchange’s usability, features, and actual costs. Here’s our detailed analysis:

Step 1: Setting Up and Funding Your Account

On CoinW, you can create a new account using an email address or phone number. The platform supports integration with Google, Apple, and Telegram, simplifying the signup process.

After signing up, I accessed my account but found its functionality limited. I upgraded my account by filling in personal details, uploading an ID scan, and completing facial verification, which allowed me to deposit funds and start trading.

Fiat deposits are facilitated through ACH and partners like Banxa and Mercuryo. I also made a direct crypto deposit from another platform, with CoinW providing a QR-coded deposit address to avoid errors. The funds appeared in my account within 20 minutes.

Step 2: Trading

CoinW features seven different accounts: Funding, Spot (ETF), Buy Crypto, Futures, Earn, Copy Trading, and CoinW Card. The deposited assets arrived in the Funding account, requiring an internal transfer to begin trading.

While performing my test, I exchanged LTC for USDT at market price. The order failed at first, with a pop-up window claiming that the order was “abnormal”. The FAQ didn’t provide any information on this issue. After several attempts, the transaction succeeded.

CoinW displayed an error for the Market order with no additional explanation on how to solve it

The transaction details were in the Order History tab, showing a Taker fee of 0.2%, as stated on the fee page.

I then placed a Trailing Stop order for LTC to USDT, which was executed almost instantly due to a tight stop loss setting, differing from the trigger condition by less than 0.1%.

Step 3: Withdrawal and Review

I attempted to withdraw USDT to my Bitunix account. CoinW required a Trading Password and Google Authenticator setup for withdrawals, which are only enabled from the Funding account, necessitating another asset transfer.

I encountered another security measure requiring me to whitelist a withdrawal address, confirmed via Trading Password and Google 2FA.

The withdrawal fee on the Polygon network was 0.5 USDT, lower than fees from BitMart and Bitunix. The funds reached my Bitunix wallet in about a minute.

CoinW Desktop Version

In this review, I tested the desktop version of the CoinW Trading Platform using the Chrome browser. As a casual trader, I liked its user-friendly and intuitive interface. Expert traders will also find the platform beneficial, thanks to its advanced charting capabilities, trading bots, futures, ETFs, various order types, and an API that supports the creation of complex algorithms. Throughout my testing, the platform performed flawlessly.

Charts: CoinW’s desktop trading platform offers its original charts with around 30 different indicators, including MACD, RSI, and SAR. Traders wishing to use classic TradingView functionality can easily switch to this option without leaving the platform.

Navigation Ease: I was able to easily navigate CoinW’s trading platform thanks to its user-friendly interface and classic layout. Order execution involved three simple steps: selecting the order type, setting up the price and amount of the asset, and finalizing the transaction by clicking on the Order button.

Withdrawal Navigation: The withdrawal option is readily accessible from most pages under the “Wallet” tab in the top menu. The process includes selecting the coin, withdrawal address, network, amount, and confirmation of transaction with 2FA. Only whitelisted addresses are permitted, but adding a new address is conveniently handled without leaving the page.

Order Book: CoinW’s standard Order Book displays all open Buy and Sell orders for a selected pair.

Wallet Protection Measures: CoinW mandates adding new addresses to the list of Trusted Addresses before proceeding with withdrawals. The platform alerts users of any typos in addresses and prevents further action until corrected.

Conditional Orders: CoinW offers different order types, including Market, Limit, Stop-Limit, Trailing Stop, and Iceberg, which can be found in the drop-down menu of the order interface. However, other types like GTC/GTD, Stop-Loss, and Day Order are missing. During my tests, I performed a Trailing Stop order which was executed smoothly, differing from the trigger condition by less than 0.1%.

Third-Party Sign-in: CoinW enables the creation of new accounts through integration with Google, Apple, and Telegram. During my test, I registered using my Google Account, which made it really easy to log in later with just one click.

Staking: CoinW offers a crypto-earning product, Simple Earn, that enables cryptocurrency holders to gain additional profit while staking their assets. The program covers around 60 different coins, with rewards running between 0.1% and 30% APY.

Trading bots: CoinW offers a variety of trading bots, mostly focused on futures trading, helping traders automate their activities. While testing, I discovered different bots like Futures Grid, Futures Marginale, Futures CTA, Spot Grid, and Auto-Invest. The platform doesn’t offer DCA or Inifinity Grid like KuCoin, but makes it possible to copy bots created by other users on the Bot Marketplace.

My Key Takeaways After Testing CoinW

CoinW’s intuitive interface makes it well-suited for beginners in crypto trading, while also providing a range of sophisticated tools for advanced traders. The platform’s user-friendly interface and standard layout, similar to other exchanges like HTX and OKX, make navigation straightforward.

CoinW Mobile App

The CoinW Mobile App is available for both Android and iOS. It mostly offers the same tools and features, with a few minor differences. The interface is light and user-friendly, making it a good fit for beginners.

The CoinW Mobile app can be secured using a phone, email, Google 2FA, and a Trading Password. While it does not support setting up a Passkey, the app provides additional protection measures like Fingerprint Unlock or Pattern Unlock, which can be useful for trading on the go. Withdrawals are limited to trusted addresses, with the ability to add new addresses facilitated by a QR scanning feature.

Key features and tools on CoinW Mobile include:

• Coin Search: CoinW is equipped with a standard search field, helping users quickly find the assets they are interested in.
• Trading Features: CoinW Mobile offers the same set of order types except for Trailing Stop. The list of available options includes Market, Limit, Stop-Limit, and Iceberg orders.

Order types on CoinW Mobile

• Market Discovery: The app’s index page offers various insights, including Trending Assets, New Listings, Top Gainers, and Top Volumes.
• All Services: CoinW combines all the available tools and features on a separate page, making navigation easier.

All Services on CoinW Mobile

• Watchlist Management: CoinW Mobile has a standard star icon for adding and removing assets to the list of favorite coins.
• Alerts: CoinW Mobile offers a convenient way of setting up notifications to help users track the price movements of selected coins.
• Portfolio Management: The “Assets” tab provides a comprehensive overview of all the available coins. The page displays the overall volume of assets in USD and includes a diagram for better visualization.

My Key Takeaways After Testing CoinW on CoinW Mobile

CoinW Mobile mirrors the functionality of the desktop version, with only a few minor differences. Its clean and user-friendly interface makes it an excellent choice for beginners, while a wide array of tools and features meets the needs of expert traders. During my tests, I was impressed by the clarity of the portfolio structure, enhanced by convenient visuals. Additionally, a robust set of security measures proves invaluable in case a mobile device is stolen or lost.

Fees

Spot Maker/Taker Fees

In our review of spot fees, we examine spot fees across three distinct tiers, focusing on the fees for different trading volumes. We focus on the essentials and potential savings through native tokens and various discount schemes. Our unique methodology provides a clear view of fee structures and how they benefit traders of all levels.

The first tier typically represents casual traders, as they don’t usually trade more than $10,000 per month, while the higher tiers often relate to more advanced traders. Using this method, we’re categorizing users not only by their trading style but also by the amount of money they spend on the exchange.

Additionally, we also compare these fees with industry standards to give a thorough perspective on each exchange’s affordability.

The trading fees at CoinW are lower than the industry average. The platform strives to create a balance encouraging traders to create liquidity and to take existing orders.

Deposit fees

Unlike platforms like Crypto.com or Binance, which enable direct fiat deposits, CoinW relies on various fiat payment gateways like BANXA and Mercuryo for fiat-to-crypto transactions. The exchange itself does not charge any additional fees, but the third-party services it utilizes often have their own fees, which can be quite high.

Withdrawal fees

There are no fiat withdrawals on CoinW. Users wishing to fix their profits can only convert their assets into stablecoins or cash them out through other exchanges.

When trying to withdraw crypto to my wallet, I paid a small fee that varied by asset. For Litecoin, I paid 0.019 LTC, while withdrawing USDT incurred a fee of 1 USDT, the same as on BitMart and HTX. Internal transfers to other CoinW users were free of charge. The fees were clearly displayed on the withdrawal page and deducted from the withdrawal amount.

Futures Trading Fee Rate

CoinW charges the same fees across all available assets, equal to 0.01% for Makers and 0.06% for Takers. In addition to a dedicated page about Futures fees, the exchange explains how to calculate them in detail in a Help article.

The article also mentions fee discounts via Mega Coupons that can be obtained through official activities. However, there is no information on what kind of activities these are.

Fee Discounts

It is possible to reduce trading fees on CoinW in two key ways:

• CoinW native tokens. Holders of CWT can reduce their fees by up to 95%. The exact size of the discount can be found in the My VIP section.
• Trading fee promotions. CoinW regularly runs promotional campaigns that are available on the Event page offering fee discounts for specific trading pairs.

Are CoinW Fees Competitive?

While testing CoinW, I verified that the fees charged were consistent with those listed on the platform’s dedicated fee page, confirming the absence of hidden charges and full transparency in its fee structure. CoinW’s trading fees are below the industry average, and additional discounts are available for holders of CWT tokens or through promotional campaigns. However, partners handling fiat-to-crypto transactions often charge higher fees compared to platforms with direct fiat deposits.

It’s important to note that fees can change, so always refer to CoinW’s official website for the most current information.

Overall, CoinW’s competitive fee structure makes it an attractive option for active traders.

Available Cryptocurrencies

Find the coin you need on CoinW

Stablecoins

CoinW does not allow trading crypto against fiat currencies, but it enables exchanges for USDT. Additionally, I discovered that the platform supports other stablecoins, including WUSD, USDC, and DAI.

Launchpad

CoinW features a Launchpad, enabling projects to apply for listing through a form. Investors get a chance to buy newly listed tokens with a discount that usually ranges between 10% and 30%.

Liquidity

CoinW boasts a high liquidity score according to reputable ranking platforms like CoinMarketCap. However, the exchange does not display daily trading volumes for its assets, which complicates assessing liquidity for specific coins.

During my testing, I identified some coins with low liquidity by analyzing their market depth. I advise to perform similar analyses if you’re planning to trade large amounts of crypto.

Deposits & Withdrawals

CoinW Deposit Options

Third-party payment: CoinW relies on third-party payment gateways to process fiat deposits. The platform integrates all these services into a single interface, helping users locate the best prices in real-time.

This approach allows CoinW to offer a much larger number of payment options, making it superior to platforms like KuCoin or Crypto.com, which depend on in-house solutions. However, the fees incurred by CoinW’s partners can be substantial.

Peer-to-Peer Service: CoinW enables its users to directly buy and sell USDT for fiat through its P2P trading service. This solution helps users find buyers and sellers in their regions and make transactions using convenient payment methods.

The most popular options, like USD and EUR, are not available, which is a drawback. During my tests, I was exposed to 20 different options, including the following:

• AED
• HKD
• TWD
• VES
• MYR
• INR

The number of open orders for each currency was limited. Only TWD and CNY had a small number of sellers. Other currencies featured no more than 1-2 orders.

Note that deposit options can vary significantly from region to region. Always check the exchange’s official site for the most accurate and region-specific deposit information.

CoinW Withdrawal Methods

CoinW does not support fiat withdrawals, but withdrawing crypto is straightforward. The “Withdraw” button is easily accessible from the drop-down menu under the “Wallets” tab on multiple pages.

During my testing, I needed to perform an internal transfer before withdrawing funds from the Funding account. When I chose to withdraw USDT to my personal wallet, CoinW charged a fixed withdrawal fee of 1 USDT. However, withdrawals to other CoinW users were free of charge.

The platform also clearly displays the minimum withdrawal amount for each asset; in my case, it was 5 USDT.

CoinW Daily Withdrawal Limits

Daily withdrawal limits on CoinW depend on the level of verification. Unverified users can withdraw up to 2 BTC daily, while the following three levels increase this amount to 5 BTC, 10 BTC, and 100 BTC, respectively.

Customer Service

CoinW Customer Support Test

To evaluate the quality of customer services for diverse user needs, we created a unique trading test. We personally contact support using all available methods and present hypothetical problems that users might face. Our evaluation concentrates on how quickly they respond, the quality of the help provided, and whether we can talk to a real person rather than a bot. This method effectively measures the capability of customer support to assist both active traders and casual investors.

During my tests, I contacted CoinW support by submitting a ticket on their website. I asked a general question about asset security, as I had no specific issues with the platform. The agent responded in less than an hour with detailed information, offering fast and efficient service.

Similarly, I contacted customer support at Bitso via email and had a comparable experience. However, support at larger exchanges like KuCoin and HTX was less effective.

FAQ