QUOINEX cryptocurrency exchange review

Buy bitcoin, Ethereum and other leading cryptocurrencies using fiat currencies on QUOINEX, with zero fees on BTC/AUD pairs.

This exchange is no longer active and has rebranded to Liquid

As of September 2018, QRYPTOS and QUOINEX have rebranded to the Liquid platform. Deposits and withdrawals have been frozen on both exchanges.

Quoinex records have been transferred to Liquid. Funds and accounts on QRYPTOS and QUOINEX have both been migrated to Liquid. Users are able to log in with their existing credentials.

This guide has been retained for archival purposes. Information no longer applies as this exchange is no longer active.

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Fiat currencies




Product Name QUOINEX Cryptocurrency Exchange
Fiat Currencies JPY, USD, SGD, AUD, EUR, CNY, PHP, HKD, INR, IDR
Deposit Methods Bank transfer
Trading Fee 0-0.25%+
Deposit Fees None
Withdrawal Fees None
Disclaimer: This information is not financial advice or an endorsement of cryptocurrency or any specific provider, service or offering. Cryptocurrencies are highly volatile and high risk. Do your own research and seek financial advice before buying. Please check with providers if their services are available in your state.

What is QUOINEX?

QUOINEX is a fiat-crypto exchange platform that was launched in 2014 and was originally known as Quoine Exchange. Fully regulated in Japan, the platform handles in excess of $12 billion in annual transactions.

QUOINEX is owned by QUOINE Corporation, a fintech company headquartered in Tokyo, Japan, along with offices in Singapore and Vietnam. QUOINE specializes in blockchain and cryptocurrencies, and it has a separate cryptocurrency-only exchange known as QRYPTOS.

US residents beware

Technically, QUOINEX operates globally and allows cryptocurrency traders from the US to register for an account on the exchange. However, as of April 2018, Americans can’t do much with their account. QUOINEX restricts US users from trading on the exchange, and it does not accept fiat deposits from US-based banks.

If you live in the US, read our review carefully to note the current limitations of having a QUOINEX account.

However, at the time of this writing (4/11/18), only BTC, ETH, XRP, QASH, DASH, NEO, QTUM and BCH were available in USD pairs.

Available countries

QUOINEX has implemented significant limitations for US residents. While Americans can register for an account on QUOINEX, they can neither fund the account via a US bank account nor trade on the platform. Any attempted US-based deposits will be returned (less bank fees). The global exchange has also restricted users from the following regions:

Which payment methods are accepted?

Users from accepted countries can deposit funds into their QUOINEX account in the following ways:

  • Bank transfer of fiat currency
  • Cryptocurrency deposit (BTC, ETH)

How much will it cost me to use QUOINEX?

As of March 25, 2017, each trader on QUOINEX has what is known as a base currency pair. This pair is decided by their country of residence – for example, the base currency pair for Japanese residents is BTC/JPY. Trading in your base currency pair on the platform doesn’t incur any trading fees, but fees apply when trading in other pairs.

Base currency pair (BTC/USD)Non-base currency (including altcoins)
Trading feeZero fees0.25% (BTC and BCH pairs)

0.1% (ETH pairs)

Deposits to QUOINEX are free, and there are no fees for withdrawing cryptocurrency from your account. However, a fee does apply to fiat withdrawals. For example:

  • USD withdrawals: $5 fee
  • AUD withdrawals: $5 fee
  • EUR withdrawals: €5 fee

Are there any transfer limits?

Individual trading accounts with QUOINEX can withdraw up to $30,000 daily for a maximum of $300,000 monthly. This limit can be raised upon request to $50,000 daily for a maximum of $500,000 monthly.

Corporate account withdrawal limits start at $100,000 per day and $1 million per month but can be upgraded to $150,000 and $1.5 million, respectively, upon request.

Is it safe to use QUOINEX?

The team behind QUOINEX claims that the exchange platform was built with security at its core. As a result, it employs a variety of protective measures to help protect customer assets, including:

  • Multi-factor authentication. Sessions are timed, and the platform provides three layers of signatures for customer accounts.
  • Private API key. This key remains hidden in your trading dashboard at all times.
  • Whitelisted IP addresses. All verified bitcoin addresses and IP addresses with API access are whitelisted, and no other addresses will receive access to your account.
  • Encryption. All of the personal information you provide to QUOINEX is encrypted.
  • Logging. IP addresses and access points are logged to help you detect any suspicious activity on your account.
  • Wallets. Customer cryptocurrency holdings are kept in segregated wallets, with BTC funds stored in multisig cold wallets.
  • KYC. In order to sign up for an account, you’ll need to satisfy Know Your Customer (KYC) requirements and provide a valid form of ID and proof of address.

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Deposit method

Bank transfer (ACH), Debit card, PayPal, Wire transfer, Apple Pay

Trading fee

Fees vary

Withdraw fees

Instant Card Withdrawal: Up to 1.5% of the transaction plus a minimum of $0.55
Outgoing Wire Transfer: $25
Fees vary by location and payment method.

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Deposit method

Bank transfer, Credit card, Debit card, Neteller, PayPal, Online banking, Skrill

Trading fee

Fees vary. Overnight and weekend fees apply

Withdraw fees

US$5 (minimum withdrawal of US$50)

Customer support

If you ever need help with your account, QUOINEX offers a fairly comprehensive selection of FAQs. However, if you can’t find the answer you’re looking for, you also have the option of submitting a support ticket through your account.

Pros and cons

  • Supports fiat deposits in multiple currencies.
  • No trading fees on base currency pairs.
  • Mobile trading apps available.
  • Established trading platform backed by a large fintech company.
  • 2-factor authentication support and an emphasis on security of funds.
  • Margin trading available with leverage of up to 25:1.
  • Trading dashboard can be customized to suit your needs and preferences.
  • Regulated in Japan.


  • US users can register but cannot deposit or trade on the exchange.
  • You can access a wider range of crypto coins and tokens on other exchanges.
  • Low trading volume on some pairs.

Frequently asked questions

At the time of writing, the author holds IOTA and XLM.

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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