CoinEx, a world-renowned crypto exchange, recently released its annual review for 2022, which recaps its achievements last year concerning trading volumes and new listings, product and service perfection, branding promotion, charity, and capital.
According to the report, as of December 2022, CoinEx amassed 4.5 million registered users, providing services in 15 languages across 200-plus countries and regions. In January 2023, CoinEx announced the end of its one-month five-year anniversary celebration, which marks the beginning of its sixth year in the crypto industry. The exchange also released the 2022 Crypto Annual Report. Now, let’s find out the highlights of the report and how CoinEx managed to attract users in 2022.
With 600-plus cryptocurrencies in 1,000-plus trading markets, CoinEx has reached an industrial top level in crypto listings
The report suggests that CoinEx has supported 600-plus cryptocurrencies in 1,000-plus trading markets. According to CoinMarketCap, as of Jan. 12, 2023, CoinEx ranks 10th among all crypto exchanges by the number of cryptocurrencies supported and eighth by the number of trading markets supported. It’s fair to say that CoinEx has become a top contender in crypto listings, a major milestone for the exchange.
100% reserve enabled by a “Merkle tree” proof of reserves
The report mentions that CoinEx launched a “Merkle tree” audit method as proof of reserves in December 2022, making it one of the earliest crypto trading platforms to disclose proof of reserves. As a way to audit assets, proof of reserves aims to verify whether a platform has enough on-chain assets to back the book assets of its users, and CoinEx employs the Merkle tree method to prove its 100% reserve ratio. According to the official announcement, the exchange’s proof of reserves now supports Bitcoin (BTC), Ether (ETH), CoinEx Token (CET), Tether (USDT), USD Coin (USDC) and Shiba Inu (SHIB), and more cryptocurrencies will be covered in the future.
We all know that the crypto market suffered turmoil in Q3 and Q4 of 2022. As top crypto platforms like FTX failed, the market was seized by panic, and the security and stability of centralized trading platforms have been questioned. At this critical moment, the Merkle tree proof of reserves launched by CoinEx came as immediate relief to its users. It also provides telling evidence that since its inception in 2017, CoinEx has always maintained a 100% reserve ratio and 100% guarantees withdrawals, which are not just official slogans.
Continuous perfection: 100-plus rounds of product optimization and service upgrades
As stated in the report, CoinEx accumulated 100-plus rounds of product optimization and service upgrades throughout the year. The exchange restructured multiple functions to provide all-new trading experiences.
Highlights of the upgrades include:
- In 2022, CoinEx launched new upgrades in market overview, contract data, new listing and fiat services. In particular, market overview and contract data are essential features for crypto users. With the two new functions, users can now keep up with real-time market changes and make smarter investment decisions.
- According to official announcements, in 2022, CoinEx supported six new fiat service providers and hosted quite a few zero-fee promotions with its new partners, which demonstrates the solid efforts CoinEx made to expand its fiat deposit and withdrawal channels and improve the fiat trading experience.
Branding promotion: The key to attracting users
In April 2022, CoinEx rebranded and redefined its slogan to be “making crypto trading easier,” aiming to work as a major gateway for global users to the crypto world. CoinEx’s 100-plus rounds of product optimization and service upgrades for the past year were all directed at that goal.
From improved web user interfaces through functional perfection to service upgrades, CoinEx made a series of moves to achieve its ultimate goal: ease of use. These efforts have paid off, as the exchange attracts more users and its trading volumes continue to grow. In today’s crypto space, many centralized exchanges have adopted complicated slogans incorporating words like “professional,” “comprehensive” and “simple.” CoinEx, on the other hand, only has one goal and slogan: ease of use. Beyond doubt, easy-to-use products will earn CoinEx more crypto beginners and expand its market presence.
Overall, in light of the volatile market conditions and the failure of the many centralized trading platforms, CoinEx’s 2022 performance gets an A because it has kept perfecting products and upgrading services while enhancing its brand power. With all these efforts, the exchange has been favored by more users. Let’s look forward to CoinEx’s performance in the new year.