According to the annual Crypto Exchanges 2022 report released by TokenInsight in January, the top 10 centralized exchanges recorded a total trading volume (spot+derivatives) of $40,87 trillion last year, while the figure recorded by the top 10 decentralized platforms reached $1,33 trillion.
This represents, on average, 3,15% of the total market. Data indicates that the majority of cryptocurrency transactions take place on CEXs, which are the most popular cryptocurrency buying/selling platforms among Investors.
New payment methods on CoinEx
On CEXs, fiat trading mainly comprises two models: C2C trading and B2C trading. On CoinEx, users can directly buy and sell cryptocurrencies with fiat currencies through third-party fiat currency service providers at an appropriate price and payment method through the “B2C fiat trading model”.
On CoinEx, users can now buy or sell classic cryptocurrencies such as BTC, ETH, USDT and USDC on the Fiat page with nearly 100 fiat currencies. In addition, the platform also supports several payment methods for fiat currency deposits and withdrawals, including VISA, Master Card, Apple Pay, Google Pay, wire transfer and SEPA.
Since 2020, CoinEx has continuously improved its fiat trading services and expanded fiat channels to enable convenient and fast deposits/withdrawals. According to official information, CoinEx has partnered with 2022 new third-party fiat service providers in 6. Currently, the platform supports more than 10 third-party fiat service providers, namely MoonPay, Banxa, Guardian, Simplex, Mercuryo, Paxful, XanPool, Advcash, LoopiPay and Remitano.
It should be noted that CoinEx is the first CEX to partner with LoopiPay, which has expanded the platform's crypto deposit/withdrawal channels.
In addition to expanding deposit/withdrawal channels, CoinEx has also launched 0% commission campaigns to give users more benefits when buying and selling cryptocurrencies. Through these events, CoinEx users can buy/sell cryptocurrencies at no cost through the designated service provider. By co-hosting events with fiat service providers, CoinEx makes it more convenient and easier for more investors to discover the world of cryptocurrencies.
By partnering with a growing number of secure and compliant third-party fiat service providers, CoinEx offers fiat trading services to users from nearly every corner of the world. For example:
- Simplex and MoonPay are available to most users in Europe and the US;
- Remitano covers most of the countries of South-East Asia;
- Users from Australia, UK and some European countries can buy/sell cryptocurrencies through Banxa;
- LoopiPay is available for users from Brazil.
Therefore, CoinEx users from almost all countries in the world can now simply find a suitable fiat service provider to buy/sell cryptocurrencies on CoinEx.
Specifically, CoinEx users can start exchanging cryptocurrencies for fiat by logging into the CoinEx website and clicking on [Fiat] on the homepage. Then, they need to select the target fiat currency to access third-party service providers that support that currency; thus, after completing the relevant transactions according to the official instructions, users will be able to buy/sell crypto with fiat effortlessly.
Expanding cryptocurrency buying/selling channels and improving the accessibility of the cryptosphere have always been CoinEx's goals, and in 2023, the platform will partner with more fiat currency service providers and offer more fiat channels for the buying and selling of cryptocurrencies. By improving fiat currency deposit/withdrawal services, CoinEx will help users around the world exchange cryptocurrencies for fiat currencies, making cryptocurrency trading easier.