CoinField Review 2024

Our veredict

CoinField is a Canadian-based cryptocurrency exchange that launched in 2018. It aims to provide a user-friendly experience for both beginners and experienced traders, featuring a wide range of cryptocurrencies and several fiat currencies, including USD, CAD, EUR, GBP, JPY, and AED. The platform stands out for its ease of use, quick registration process, and the variety of funding methods available. However, it has received mixed reviews regarding its customer support and trading interface, which some users find lacking in advanced features for professional traders.

Despite its strengths, CoinField has notable drawbacks. Its trading and withdrawal fees are relatively high compared to industry standards, and it has faced criticisms regarding the comprehensiveness of its KYC process. Additionally, CoinField has been marked as a scam by some reviewers due to regulatory issues and concerns about its operational transparency. This exchange is not available for U.S. investors, and its regulatory status in Canada has faced scrutiny with expired FINTRAC licenses, raising concerns about its long-term reliability and security.

Pros

Wide Range of Fiat Currencies: CoinField supports six fiat currencies (CAD, USD, EUR, GBP, AED, and JPY), making it convenient for users from various regions to deposit and withdraw funds.
Regulated and Secure: CoinField is regulated in Europe and utilizes strong security measures, including cold storage and two-factor authentication, ensuring the safety of user assets.
Availability in Multiple Countries: CoinField is available in over 180 countries, providing a wide reach for international users.

Cons

Threenvest Score

Fees

0.20% (Maker), 0.20% (Taker)

U.S Legal

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Why choose CoinField?

Choosing CoinField as your cryptocurrency exchange offers several advantages, particularly for those who value security, convenience, and a user-friendly experience. Firstly, CoinField is well-regarded for its robust security measures, including cold storage for digital assets and multi-signature wallets, ensuring a high level of protection against potential cyber threats. This is crucial for both novice and experienced traders who want peace of mind regarding the safety of their investments.

Moreover, CoinField’s user-friendly interface is designed to cater to a wide range of users, from beginners to seasoned traders. The platform supports multiple fiat currencies and offers various funding methods, including credit/debit cards and wire transfers, making it accessible to a global audience. This ease of use, combined with features like the SOLO token staking program, allows users to earn rewards while trading, adding an additional incentive for choosing this platform.

Finally, CoinField provides high liquidity and a comprehensive range of trading options, including tokenized stocks and over-the-counter (OTC) trading for large volume transactions. These features ensure that users can execute trades efficiently and benefit from diverse investment opportunities. Despite some criticisms regarding its customer support and higher withdrawal fees, CoinField remains a strong contender in the cryptocurrency exchange market due to its innovative offerings and commitment to security.

Xavier Tarrasó

EIP and Cryptocurrency Investor

As an expert on our site, I recommend CoinField for its strong security measures and user-friendly interface. While the platform has high withdrawal fees and a detailed KYC process, its support for multiple fiat currencies and innovative features like staking through the SOLO token make it a solid choice for both beginners and experienced traders. However, always consider using a hardware wallet for added security when storing large amounts of cryptocurrency.

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.

Alejandro Borja Fuentes

Economist | Cryptocurrency exchange analyst

The author of the review

Alejandro Borja is an accomplished economist with a distinguished career spanning various facets of the financial industry. His academic journey began with a degree in Economics, laying the foundation for his deep understanding of financial markets.

Over the years, Alejandro has honed his skills by working with some of the largest financial media outlets, analyzing and reporting on economic trends and investment opportunities. His expertise in financial analysis has made him a respected voice in the economic community.