Coinexchange.io announced to be closed due to financial reasons

Cryptocurrency exchange Coinexchange.io has just announced it will be shutting down due to financial difficulties

In an official announcement on October 1, the platform, which is popular with altcoin traders, noted that the closure is purely a business decision and is not related to any security breach or incident. other. The exchange has stopped working, you want a reputable exchange that can learn Primexbt crypto trading to trade

Coinexchange disconect

No longer economically viable at Coinexchange

Coinexchange.io currently has a daily trading volume of around $700,000, according to CoinMarketCap, and supports over 500 altcoins. The platform says:

“Unfortunately, the platform is no longer economically viable for us to continue providing marketplace services. The costs to maintain security and the necessary support now far outweigh our income.”

Termination in 2 weeks

Trading and depositing activities on Coinexchange.io will cease on October 15. All traders are also required to suspend any activity as soon as possible.

The website and withdrawals will still be active until December 1, which is also the deadline that the exchange requires users to withdraw all their remaining funds.

Coinexchange.io also further revealed that they may return in the future if market conditions change.

Global Exchange Closing Status As Cointelegraph previously reported, Coinone Global Exchange – a Malta-based platform issued by major South Korean exchange Coinone, stopped offering its services in mid-September.

Also in September, Thailand's leading cryptocurrency exchange Bitcoin Co. Ltd. also stated that they are unable to keep the Digital Asset Exchange license from the regulators in 2020, so they will cease all trading activities.

see this post for trading: Bitcoin Analysis July 13, 2017

Expenses are higher than income

A post on the exchange's website yesterday stated that the decision to close is purely business related and not the result of a "security breach or any other incident".

“Unfortunately, it is no longer economically viable to continue providing services to the market,” the platform said. The costs for the required level of security and support currently far exceed our income.

Accordingly, trading and deposits will cease on October 15. The website and withdrawals will remain active until December 1, 2019. However, CoinExchange requested users to withdraw all funds by this date. Given the current market conditions, the company said it will return in the future if the industry improves.

“It has been a great journey and we are very excited to be in the crypto space.”

After posting the announcement of that decision on the Twitter page, many people talked about the positive experience they had with the exchange.

“We regret to inform the community that http://CoinExchange.io will be closing down. For details please read the following notice”

Twitter user Turbo says simply that the bear market has created another victim. Another said it was a pity that the platform was down.