CoinField is a crypto exchange that launched in 2018. As its major selling point, CoinField is easy to use with 24/7 assist as well, and that makes it secure and transparent.
However, you should consider all essential factors in the choice of the platform to trade with.
In addition, the registration process only takes about 30 seconds to complete through an application called Jumio.
Therefore, one of the only things you have to do with Jumio is to upload an ID and a selfie which pretty much sums it up.
Some key characteristics of this exchange platform include:
Liquidity
Over time, CoinField has had a 24-hour trading volume of $ 13 million and with this figure, it was placed as no. 87 on the list of the top 100 exchanges in the world derived from 24-hour trading volumes.
However, in recent times right even in the middle of the crisis with COVID-19, the trading volume has more than double the previous figure which is now about to $ 27.5 million according to Coinmarketcap.
Therefore, liquidity here is very much acceptable, but there is definitely more progress to be made.
CoinField Trading View
Several exchange platforms have different trading views and unfortunately, this article cannot determine which has the best views simply because you should assess which trading view best suits you.
Even though, what the views usually have in common is that they all display the order book and a price chart of the selected crypto with the order history.
Also, they usually have the buy and sell-boxes but before you select an exchange platform, endeavor to have a look at the trading view so that you can see if it feels right to you.
CoinField trading fees
The one thing that can’t get emphasized enough is that you must always confirm the trading fees of any exchange you are interested in.
A trade transpires between two parties:
The Maker
The person whose order already exists on the order book before the trade and they make the liquidity in a market
The Taker
The person who places the order that connects or takes with the maker’s order and eradicates this liquidity by linking makers’ orders with their own.
However, CoinField’s trading fees begin at 0.25% for takers and 0.15% for makers and this is quite in agreement with the most recent global industry averages, which according to the report published in January 2021 was 0.217% for takers as well as 0.164% for makers.
NB: Discounts are available if you hold a particular amount of SOLO Tokens.
CoinField Withdrawal fees
This platform charges a withdrawal fee leading up to 0.0015 BTC when you withdraw BTC. This is fair above the global industry average which is around 0.0006 BTC per BTC withdrawal.
Generally, when it comes to fees, CoinField has considerable trading fees even though their withdrawal fees are definitely on the high end.
Deposit Methods
In addition, you can deposit through wire transfers such as SEPA and also through credit cards. This can be quite helpful especially for beginner crypto investors who are paying in their first funds in the crypto world. This also makes CoinField an entry-level exchange.
However, both VISA and MasterCard deposits attract a fee of 2.95%, which is considered decent in contrast with other exchange platforms offering credit and debit card deposits.
Also, CoinField accepts six different fiat currencies which are, GBP, USD, EUR, CAD, JPY as well as AED.
Lastly, GBP Faster Payments Service (FPS) is also accessible to any customers from the UK and this means that if you’re resident in the UK, you can move funds conveniently from your bank account to your CoinField account in a few minutes.
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