Not sure about your account safety while accessing CoinW? Or trying to trade in a region where CoinW is restricted? We all face the same music! Trouble is, CoinW faced a security breach in 2023, which has made its reputation shaky amongst many investors.
Plus, the unavailability of the platform in many countries can also be irritating for you. However, there’s a solution! You can access CoinW with a VPN (Virtual Private Network) to ensure your identity stays hidden and you never hold back from trade due to geographic limits.
CoinW is a cryptocurrency exchange platform that serves a global audience, offering a wide range of trading options, including spot and futures trading, as well as ETFs (exchange traded funds). It has a user base of millions across 120 countries, though it is not accessible to many. The platform provides features designed to appeal to both novice and experienced traders, such as automated trading bots, staking opportunities, and high-leverage options.
CoinW is restricted in some jurisdictions, which can easily be bypassed through a VPN. Here’s what you need to do:
CoinW in compliance with the laws and regulations of all jurisdictions has restricted service availability to users residing in the following countries and regions:
CoinW is restricted in several regions primarily due to regulatory hurdles and compliance issues within the cryptocurrency market.
The US has a complex regulatory environment for crypto exchanges. Strict KYC/AML regulations, unclear guidelines on derivatives, and leveraged trading are challenging to meet for some platforms like CoinW.
Meeting licensing requirements and following diverse state-level regulations can be expensive for many exchanges, including the necessary documentation and compliance processes.
Some countries, like China, have outright banned cryptocurrency exchanges and transactions, including mining activities.
The cryptocurrency industry has experienced numerous security breaches and scams, increasing regulatory scrutiny globally. Exchanges that cannot ensure user security or meet regulatory standards often face restrictions in various jurisdictions.
The process is easy after you have created your account. Here’s how:
Create an account by providing your email and setting a strong password. Complete any necessary identity verification processes to enhance security and comply with regulations.
Find the "Deposit" section. Fund your account with various cryptocurrencies or supported fiat currencies.
Spot Trading
Market: Buy or sell at the current market price.
Limit: Set your desired price for buying or selling.
Conditional: Trigger your order based on specific price conditions.
With an attractive feature set, CoinW is gaining popularity amongst many traders. Some of the benefits while trading on CoinW are:
CoinW has a flat maker/taker fee of just 0.2%, which is lower than most competitors. Spot trading enjoys zero fees, making it a cost-effective choice for traders.
With over 1,000 cryptocurrencies supported, including major players like BTC (Bitcoin) and ETH (Ethereum), CoinW provides ample opportunities for portfolio diversification.
Leverage up to 200x on BTC futures offers to both aggressive and conservative traders. ETFs with varying leverage (×3, ×4, ×6) offer diverse investment options.
Successful traders' strategies make it ideal for beginners or those seeking time-efficient investment approaches.
Automate investments through dollar-cost averaging and earn interest on holdings through platform-provided savings accounts.
The platform is designed for all levels of traders, featuring essential tools like candle indicators and an order book. You can access it via website and mobile.
While CoinW has robust security measures in place, such as API key generation, IP monitoring, and cold storage, the platform isn’t completely safe. As mentioned earlier, in October 2023 the exchange suffered a breach of $13 million, which is said to have been conducted by state-sponsored hackers.
Plus, users have also reported trading restrictions on the platform. CoinW is seen to allow investors to buy funds but when they try to sell they encounter issues.
Some of the Reddit users have also posted about the recurring scams on CoinW which has made its reputation questionable.
People have also shown concerns about using VPNs for their transactions and got banned from the platforms, as their IP address was leaked and detected. You must always use a premium VPN while using any crypto or other financial platforms to ensure privacy and security.
Trading platforms, while offering convenience, are always prone to security breaches. Most hackers and malicious actors seek opportunities to intercept your data or steal coins from your portfolio. To protect your assets and minimize risks, you must encrypt your data with a VPN.
Yes. But using a free VPN to access CoinW is strongly discouraged. Free VPNs often compromise security with weak encryption, leaving your data vulnerable to hackers. They may also track your online activity and sell your information to the highest bidders and ad agencies.
Plus, you might struggle with unstable connections and limited server options, restricting your trading experience. Most importantly, CoinW may detect inconsistencies in your location due to the VPN changing your virtual location, leading to account restrictions or permanent IP ban.
While CoinW provides a platform for cryptocurrency trading, you should be aware of the potential cybersecurity threats.
Hackers can attempt to obtain your login credentials by sending phishing emails or messages that look like real CoinW communications.
Malicious software can infect your device and steal sensitive information, such as your cryptocurrency holdings.
Hackers use social engineering techniques to trick you into disclosing personal information or sending money.
Using simply guessable passwords can leave your account exposed to unauthorized access.
Free VPNs have fewer servers, resulting in slower connection rates. Data limitations and speed throttling are common with free VPNs, making it difficult to perform high-frequency trading or large-volume transactions.
They use poor encryption techniques and make money from advertisements, which can expose you to malware. IP addresses associated with free VPNs are frequently blacklisted by websites and services, including bitcoin exchanges. This could prevent you from accessing CoinW or other platforms.
No crypto exchange is completely safe! CoinW has implemented industry standards to provide security for your funds but has often lacked in various cases. You must practice due diligence while investing, trading, or sharing your personal information on any platform.
CoinW works in over 90+ countries worldwide but is restricted in some regions, including China, North Korea, Iran, Japan, and certain areas of Canada. PureVPN helps you bypass these restrictions without getting banned.
No, CoinW is a legitimate platform. The exchange has been working since 2017 and holds multiple licenses, including MSB and MAS.
A VPN keeps your data encrypted by hiding your location and identity. CoinW can not track you if you are accessing the platform while making trades but might hurdle while you are completing the KYC form during account setup.
Yes, it is. You can access CoinW to avail all features and services if you are in the region where it is fully permitted to use.
You can easily withdraw money in your bank accounts or wallets if you have completed the KYC form on CoinW. Simply go to the Withdrawal Section > Your Wallet > Currency to withdraw. Submit your address details and complete 2FA (two factor authentication), and you’re all set!
CoinW is a popular cryptocurrency exchange platform offering a wide range of trading options, including spot and futures trading, as well as ETFs. Although it is restricted in some jurisdictions due to regulatory hurdles and compliance challenges, PureVPN can help you bypass these region locks without compromising on the security and privacy of your data.