Comparison of Wazirx vs Coinex [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Wazirx vs Coinex comparison!

Your expert: Alejandro Borja

wazirx

Wazirx

  • Threenvest valuation: 3,9/5
  • US legal: No
  • Security: High 4,6/5
  • Mobile App: No
Go exchange

Investing risks losing your money

Your expert: Xavier Tarrasó

coinex

Coinex

  • Threenvest valuation: 3,7/5
  • US legal: No
  • Security: High 4,6/5
  • Mobile App: Yes
Go exchange

Investing risks losing your money

Main points

Fees

0,20%

Earns

No

Customer service

4/5
≤0,20%

Fees

Yes

Earns

4/5

Customer service


Recommended for

Beginners

Yes

Trading

Yes

Passive income

No

Buy and hold

Yes
Yes

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold


Comparison of fees

Rating

4.0 – Competitive fees with additional rewards for using the native token.
4.0 – Competitive fees with additional benefits for token holders.

Level

0,20%
≤0,20%

Brief explanation

WazirX structures its commissions to be competitive within the cryptocurrency exchange market, particularly appealing to Indian traders. The platform charges a flat fee of 0.2% per transaction, which applies to both makers and takers. This straightforward, no-tier fee structure makes it easy for users to understand exactly what they will pay per trade, without any hidden complexities. Additionally, deposit fees are free for cryptocurrencies, but there may be small charges for fiat transactions depending on the method used, and withdrawal fees vary by cryptocurrency, reflecting network fees rather than platform charges.
CoinEx employs a straightforward and transparent fee structure that appeals to a broad range of traders. The platform charges a flat trading fee of 0.2% per transaction, which is competitive within the industry. This rate applies uniformly to both makers and takers, simplifying the trading process and making it easier for users to understand their potential costs. Additionally, CoinEx offers tiered discounts based on the trading volume and CET holdings, allowing active traders to significantly reduce their fees. This approach not only incentivizes more trading activity but also enhances loyalty to the platform. Overall, the fee policy at CoinEx is designed to support both casual and serious traders effectively.

Wazirx

wazirx
Read wazirx review
  • Year founded: WazirX was established in 2017, quickly becoming a key player in the Indian cryptocurrency space, demonstrating robust growth and longevity in a highly volatile market.
  • Security methods: WazirX employs a comprehensive set of security measures, including two-factor authentication (2FA) and regular security audits, ensuring a secure trading environment for its users.
  • Volume managed and trading volume and liquidity: Since its acquisition by Binance, WazirX has seen substantial increases in its trading volumes, benefiting from Binance’s high liquidity pools which enhance trading efficiency and price stability on the platform.
  • Reputation and Reviews: The platform is well-regarded in the Indian cryptocurrency community, known for its user-friendly interface and reliability. Its strategic partnership with Binance further boosts its credibility among users.
  • Customer service: WazirX offers a dedicated support team and has a comprehensive FAQ and support section that addresses common issues and guides new users through the trading process, contributing to a supportive user experience.
  • Pros
  • Supports numerous cryptocurrencies.
  • User-friendly interface.
  • INR deposits and withdrawals.
  • Cons
  • Occasional technical glitches.
  • Slow customer support.

Read wazirx review

Coinex

coinex
Read wazirx review
  • Security Methods: CoinEx uses an advanced multi-tier, multi-cluster system architecture and a strong set of security protocols to protect users' data and assets.
  • Customer Service: CoinEx provides 24/7 customer support and has a comprehensive FAQ and support system, helping users resolve their issues quickly and efficiently.
  • Reputation and Reviews: CoinEx has maintained a positive reputation within the crypto community, often praised for its user-friendly interface and robust security measures.
  • Transparency: CoinEx is known for being upfront about its trading fees, wallet maintenance, and system upgrades, contributing to a transparent trading environment for its users.
  • Volume Managed and Trading Volume: CoinEx supports a significant trading volume and liquidity, making it a reliable choice for executing large trades without a major impact on the market price.
  • Pros
  • Wide variety of cryptocurrencies supported.
  • Competitive trading fees.
  • User-friendly interface.
  • Cons
  • Limited educational resources.
  • Customer support can be slow.

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Product selection

Native token

Token WRX
No

Earns

No
Yes

NFT marketplace

Yes
No

Cripto/debit card

Yes
No

Company information

Full name

Zanmai Labs Private Limited
ViaBTC Technology Limited

Regulation

Not regulated
Not regulated

Year founded

2018
2017

Founder

Nischal Shetty
Haipo Yang

Payment methods

Transfers

Yes
Yes

Mastercard

Yes
No

Wire transfer

Yes
No

Card

Yes
No

Comparative table

Wazirx FEATURES Coinex
WazirX allows users to begin trading with relatively small amounts, making it an accessible option for beginners and those looking to test the waters without significant initial investments.
Minimum Trade
CoinEx allows for relatively low minimum trade amounts, making it accessible for beginners.
WazirX charges a flat fee of 0.2% on all trades, which is competitive; however, a lack of fee tiering can deter high-volume traders who typically benefit from reduced rates in other exchanges.
Trading and Transaction Fees
Fees are competitive but not the lowest in the market, impacting frequent traders.
The platform supports a broad array of cryptocurrencies, providing users with ample opportunities to diversify their portfolios with both popular and less mainstream tokens.
Number of Cryptocurrencies
Offers a wide selection of over 500 cryptocurrencies, providing vast trading opportunities.
Offers a substantial number of trading pairs, which is beneficial for traders looking to capitalize on market movements across various cryptocurrencies.
Crypto-to-Crypto Trading Pairs
Extensive range of trading pairs, allowing for versatile trading strategies.
Generally, WazirX maintains a transparent approach with visible fee structures and trading terms; however, improvements could be made in the visibility of wallet safety and fund security protocols.
Website Transparency
The website provides clear information on fees and policies but could improve on educational content.
WazirX lacks an exchange card, limiting flexibility in utilizing crypto assets for everyday transactions and benefits.
Credit/Debit Card
CoinEx does not currently offer a branded card for customers to use for in-store purchases or benefits.
Provides robust storage options with an emphasis on security; includes both hot and cold wallet solutions to ensure the safety of user assets.
Storage Offering
Offers secure storage options, including cold storage, though details can be more transparent.
While WazirX offers staking options, the variety and rewards rates are less competitive when compared with larger platforms that specialize in staking and yield farming.
Staking and Rewards
Provides staking options with competitive rewards, though not as high as some specialized platforms.
Both the mobile app and desktop platform are well-designed, offering intuitive navigation and comprehensive functionality that meets the needs of most traders.
Mobile App and Desktop
Both mobile and desktop platforms are highly rated for their usability and feature set.
The platform’s customer service is an area needing improvement, with reported delays in response times and issues with the effectiveness of the solutions provided.
Customer Service
Responsive but sometimes slow, especially during high demand periods.
Deposits and withdrawals are processed efficiently, especially for INR transactions. However, the platform could expand its support for additional fiat currencies to enhance user convenience further.
Deposit and Withdraw
Efficient processes with multiple crypto options, though limited fiat options impact the score.

Key features

Analysis tools

Basic charting tools
Basic to intermediate charting tools

Mobile APP

Yes
No

Security

High 4,6/5
High 4,6/5

Additional features

Staking, WazirX token (WRX) rewards, WazirX Earn, fiat on/off ramps
Margin trading, futures trading, staking, CoinEx token (CET) rewards

Anonymity

No
Yes

Key points

Available cryptocurrencies

100+
100+

User-friendliness

WazirX provides a straightforward and easy-to-use platform that is ideal for beginners. The interface is clean and intuitive, making it easy to navigate and execute trades.
CoinEx offers a straightforward and easy-to-use platform that is ideal for beginners. The interface is clean and intuitive, making it easy to navigate and execute trades.

Value for money

Provides good value for money with competitive fees and a wide range of supported cryptocurrencies, making it an affordable choice for Indian users.
Offers good value for money with competitive fees and a diverse range of supported cryptocurrencies, making it an affordable option for traders.

Countries of operation

India, United States, Canada, United Kingdom, Australia
United States, United Kingdom, Canada, Australia, Singapore

Best for

Ideal for Indian investors seeking a user-friendly platform with competitive fees and a wide range of supported cryptocurrencies.
Suitable for traders of all experience levels seeking a platform with a wide range of cryptocurrencies and competitive fees.

Base currencies available

INR, USDT
USD, BTC, USDT

Account

Trading

WazirX is one of the largest exchanges in India, offering a wide range of cryptocurrencies and easy fiat integration. It has competitive fees and a user-friendly platform but has faced regulatory challenges.
CoinEx provides a good selection of cryptocurrencies and competitive fees. It offers advanced trading tools but has moderate liquidity compared to larger exchanges.

Deposit and withdrawal

WazirX is one of the largest exchanges in India, offering a wide range of deposit methods. Withdrawals are processed quickly, with competitive fees.
CoinEx supports various deposit methods, including bank transfers and crypto. Withdrawals are processed efficiently, usually within a day, with low fees.

Account opening process

WazirX offers a straightforward and user-friendly account opening process. Users need to provide personal information and verify their identity. The process is efficient and typically takes less than a day to complete.
CoinEx offers a straightforward and fully digital account opening process. Users need to provide personal information and verify their identity. The process is quick, usually taking less than a day to complete.

KYC required?

Yes
Yes

Customer Service

WazirX offers extensive customer support via email, live chat, and phone. The support team is responsive and available 24/7, making it reliable for users in India.
CoinEx offers customer support via email and live chat. The support team is responsive and helpful, but the lack of 24/7 support may be a limitation for some users.

Security

WazirX offers comprehensive security measures, including 2FA and cold storage. It is regulated by Indian authorities, ensuring high security for investors.
CoinEx offers robust security features, including 2FA and cold storage. However, it is not regulated by major financial authorities, which might be a concern for some investors.

Which of these exchanges is for you?

alejandro-borja-analista-de-brokers.webp

Alejandro Borja

As one of the experts reviewing WazirX, I recommend this platform for Indian users looking for a straightforward entry into the world of cryptocurrencies. Its integration with Binance enhances liquidity and provides a robust range of trading options, which is beneficial for both novice and experienced traders. However, be mindful of occasional technical issues and prepare for potential delays in customer service response times. Overall, WazirX stands as a solid choice, especially if you value an easy-to-navigate interface and a wide selection of crypto assets.
Xavier-tarraso-mascarell.jpg

Xavier Tarrasó

As an expert closely observing the cryptocurrency exchange landscape, I find CoinEx to be a commendable platform for both novice and experienced traders. Its expansive selection of cryptocurrencies caters well to those looking to diversify their portfolios beyond the mainstream offerings. The user interface, designed with clarity in mind, ensures that even those new to crypto trading can navigate and execute trades with ease. However, it’s important for users to be aware of the customer support response times, which, while reliable, can experience delays during peak times. This understanding should prepare traders to manage their trading activities effectively, keeping in mind the support dynamics. Overall, CoinEx’s robust security measures and competitive fee structure make it a worthy contender in the crowded market of cryptocurrency exchanges.

View all comparisons against Wazirx

View all comparisons against Coinex

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

 

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).


For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

More comparatives Wazirx and Coinex