CoinEx

CoinEx was founded in 2017 by Haipo Yang, best known as the founder of ViaBTC (one of the world's largest Bitcoin mining pools and the mining pool that mined the first Bitcoin Cash block in 2017). CoinEx initially positioned itself as a Bitcoin Cash-focused exchange, reflecting Yang's BCH advocacy, but has since expanded to support hundreds of cryptocurrencies across multiple blockchains. CoinEx operates globally with a user base spanning Asia, Europe, and Latin America, distinguished by its hybrid centralised exchange + on-chain AMM model (CoinEx DEX) and its no-KYC policy for lower withdrawal volumes.

CoinEx's Distinctive Features

CoinEx is unusual among CEXs in offering both a traditional order book and an on-chain AMM (CoinEx DEX, built on the CoinEx Smart Chain) within the same interface — allowing users to choose between order book trading (better for large-cap coins with deep liquidity) and AMM liquidity pools (better for longtail altcoins). This hybrid model means CoinEx can list new tokens immediately through AMM liquidity even before order book liquidity develops. The CET (CoinEx Token) is the native exchange token: CET holders receive fee discounts, share in exchange revenue, and can participate in new token listings on CoinEx's Launchpad.

Setting Up API Keys for a Trading Bot on CoinEx

CoinEx API keys can be created without KYC for basic access, but trading bots requiring full functionality should use a KYC-verified account for higher rate limits and full trading access.

Step 1: Log In and Navigate to API Management

Log in at coinex.com → go to Profile (top right) → API Management → Create API. Enter a descriptive name (e.g., "trading_bot_prod").

Step 2: Configure API Permissions

CoinEx presents the following permission options — configure with minimum necessary permissions:

• ✅ Read (balance queries, order history, market data)
• ✅ Trade (place, cancel, and query orders)
• ❌ Withdraw — NEVER enable for a trading bot
• ❌ Transfer — NEVER enable for a trading bot

Step 3: Add IP Restriction

In the IP Restriction field, enter your VPS IP address only. CoinEx will reject API calls from any unlisted IP. If your bot runs on VPS at 187.124.235.132, enter only that IP.

Step 4: Save Credentials in Environment Variables

# /etc/environment or .env file — never in source code
export COINEX_ACCESS_ID="your_access_id_here"
export COINEX_SECRET_KEY="your_secret_key_here"

Step 5: Python Trading Bot Example

import os
import time
import hashlib
import requests

COINEX_ACCESS_ID = os.environ.get("COINEX_ACCESS_ID")
COINEX_SECRET_KEY = os.environ.get("COINEX_SECRET_KEY")
BASE_URL = "https://api.coinex.com/v2"

if not COINEX_ACCESS_ID or not COINEX_SECRET_KEY:
    raise RuntimeError("CoinEx credentials not set in environment variables")

def get_signed_headers(method: str, path: str, body: str = "") -> dict:
    # Generate CoinEx v2 signed request headers.
    timestamp = str(int(time.time() * 1000))
    message = method.upper() + path + body + timestamp
    signature = hashlib.sha256(
        (message + COINEX_SECRET_KEY).encode("utf-8")
    ).hexdigest()
    return {
        "X-COINEX-KEY": COINEX_ACCESS_ID,
        "X-COINEX-SIGN": signature,
        "X-COINEX-TIMESTAMP": timestamp,
        "Content-Type": "application/json",
    }

def get_account_info() -> dict:
    # Fetch account balance info.
    path = "/assets/spot/balance"
    headers = get_signed_headers("GET", path)
    resp = requests.get(f"{BASE_URL}{path}", headers=headers, timeout=10)
    resp.raise_for_status()
    return resp.json()

def place_limit_order(market: str, side: str, amount: str, price: str) -> dict:
    # Place a limit order. market: 'BTCUSDT', side: 'buy' or 'sell'.
    import json
    path = "/spot/order"
    body = json.dumps({
        "market": market,
        "market_type": "SPOT",
        "side": side,
        "type": "limit",
        "amount": amount,
        "price": price,
        "is_hide": False,
    })
    headers = get_signed_headers("POST", path, body)
    resp = requests.post(f"{BASE_URL}{path}", headers=headers, data=body, timeout=10)
    resp.raise_for_status()
    return resp.json()

if __name__ == "__main__":
    account = get_account_info()
    print("Account balances:", account.get("data", []))

Security checklist for CoinEx bot API:

• Permissions: Read + Trade only — no Withdraw or Transfer
• IP restriction: single VPS IP only
• Credentials: OS environment variables only — never hardcoded
• CoinEx v2 API uses timestamp + signature authentication — always include timestamp in signature generation

CoinEx Token and Platform Features

CoinEx's CET (CoinEx Token) provides fee discounts across the platform and is used as the native gas token on CoinEx Smart Chain (CSC) — a BSC-compatible EVM chain operated by CoinEx that provides low-fee DeFi infrastructure for CoinEx ecosystem participants. CET holder benefits include reduced trading fees, enhanced APR on CoinEx earn products, and priority access to new CoinEx listings. The CET buyback mechanism uses a portion of platform revenue to purchase and retire CET tokens, creating supply reduction proportional to platform activity.

CoinEx's AMM trading pairs provide automated market maker liquidity for tokens that don't have sufficient order book depth — similar to DEX AMM models but operating within CoinEx's CEX infrastructure. This hybrid model allows CoinEx to list long-tail tokens with programmatic liquidity before traditional market maker support develops. CoinEx's perpetuals platform covers major assets with leverage up to 100x and supports both USDT-margined and coin-margined contracts. For major exchange alternatives see Binance, Gate.io for altcoin selection, KuCoin, and Bybit for derivatives. Use our crypto tools and DennTech blog for exchange analysis.

CoinEx's dedicated mobile application provides full trading access including spot, AMM, futures, and earn products with a streamlined interface targeting retail traders in emerging markets where mobile-first trading is the norm. CoinEx has made a strategic effort to expand in Africa, Southeast Asia, and Latin America — regions with growing crypto adoption but limited access to major exchanges due to fiat on-ramp restrictions. P2P trading on CoinEx allows users in restricted regions to buy and sell crypto via local payment methods peer-to-peer, solving the fiat access problem without requiring traditional banking integration. CoinEx's relatively low minimum trade sizes and accessible interface make it particularly suitable for smaller retail traders entering crypto for the first time in emerging market contexts.

CoinEx's maker/taker fee model is competitive for mid-tier traders who don't meet the volume minimums needed for maximum discounts on larger exchanges — standard maker fees on CoinEx are lower than Coinbase's comparable tier, making CoinEx cost-effective for active traders outside the ultra-high-volume bracket. CoinEx's multi-chain support for deposits and withdrawals spans 50+ networks, providing flexibility for users routing assets from emerging blockchain ecosystems without paying bridge fees to convert to a major network first.

CoinEx's token listing transparency — publishing the criteria and review process for new listings — provides a degree of accountability uncommon in exchanges that list tokens without disclosure. CoinEx's financial audit reports and reserve attestations are published quarterly, maintaining the asset backing transparency commitments made after the 2022 exchange industry collapse heightened user sensitivity to exchange counterparty risk.