…not? No, it is not a scam. Albeit, as exchanges go, Coinexchange is rather on the “shady” side of the spectrum. I.e. It is unclear as to where the company is located geographically; the only clues regarding its possible location are left by the terrible English in which the website communicates its purpose with the audience, as well as by interactions with “support” that can sometimes come across as blatantly rude.
That aside, the exchange does what it is meant to do: offers trading pairs of cryptocurrencies, some of which are often only found on Coinexchange, – hence the attention.
The minimum single trade requirements are dirt-low, so if one ever feels like “diversifying”, – 5 DOGE can get you a whole (small) basket of (s)hitcoins, some of which actually might thereafter deserve a second look. The price of some conveniently jumps from 1 satoshi to 2 satoshi and back.
While coins’/tokens’ wallets often “unpredictably” go to “maintenance” mode, it is nonetheless possible to buy cheap at Coinexchange and sell at a higher price or for a different currency on a bigger altcoin-oriented exchange (i. e. BleuTrade or YoBit). Or doing so repeatedly. The chart below is pretty much self-explanatory in that regard.
And yes, deposits, withdrawals and trades work so no, Coinexchange is not a scam (despite the fact that typing “coinexchange” in Google keeps coming up with multiple “scam or not” results on the first page)…
Or, at least, not a scam at the moment and as far as we can tell.
Of course, storing your cryptocurrencies on the wallets offered by the exchange is extremely risky, but same applies to literally any online storage option. If anything, should the self-proclaimed “pillar” of the crypto market vanish overnight as suddenly as it appeared, taking your hard-earned 5 DOGE and some Angelamerkelcoin change along with it, it will be a less painful way to learn from one’s mistakes than if the same would happen with Binance.
As for casual, fun trading, some interesting altcoin pairs, a straightforward and lightweight interface, quick deposits and withdrawals and opportunistic ways of multiplying your microearnings, CoinExchange is not a bad educational destination.
P. S. A detailed review of Coinexchange is work-in-progress.
P. P. S. Looking for more exchanges offering even more DOGE pairs? Check out YoBit and Bleutrade, however keep in mind the minimum-10-DOGEcoin+ individual trade rules.
NOTE: All information provided on the website is offered only for entertainment purposes and should not be regarded as investment or trading advice.
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