QUOINEX Review 2021


Quoinex is a financial technology (fintech) company that offers multiple products powered by blockchain technology. In addition to providing the trading and exchange of cryptocurrencies, Quione also a global liquidity platform which is backed by the proprietary QASH token. Quione is fully regulated in Japan by the Japanese Financial Services Authority (JFSA) with cryptocurrency license number 0002.


Founded by Miki Kayamori and Mario Gomez-Lozada, Quoinex offers four blockchain related services, which are as follows:

  1. Quoinex Exchange
  2. Qryptos
  3. Qash
  4. Liquid +

Supported Countries

Traditionally, the JFSA has encouraged financial services and fintech companies that it licenses to provide services to the Japanese public only, and discourages the sourcing of clients from outside Japan. Quoine’s offices are however located not only in Japan, but also in Singapore, and Vietnam, with the Japan office serving as its headquarters. The appeal of the cryptocurrency trading products on Quoinex is global in orientation and all countries of the world are accepted, with the exception of Iran, Myanmar and North Korea.

US Traders Accepted: Yes or No?

Regulatory restrictions within the US itself prevent US traders from operating with Quoinex. Therefore, US citizens and green card holders are not accepted on the Quione platforms.

Cryptocurrencies Traded

Quoinex’s cryptocurrency exchange and trading products are offered through Quionex and Qryptos. Quoinex is the site of exchange-based trading of cryptocurrencies and features the following cryptos:

  • BTC
  • ETH
  • QASH
  • UBTC
  • BCH
  • DASH
  • QTUM
  • NEO
  • XRP

These cryptocurrencies are traded as pairings with the following fiat currencies:

  • USD
  • JPY
  • Euro
  • IDR
  • HKD
  • CNY
  • INR
  • PHP

The Qryptos platform will feature only cryptocurrency pairs when it is launched. It is also built to support ICO tokens, so it is very likely that new cryptocurrencies will also be offered on Qryptos as 2018 gets underway.

Deposit and Withdrawal Options

Bank wires are the only accepted means of deposits and withdrawals. The use of credit cards for deposits is being considered by the Quione team but is presently unavailable.

Fees and Charges 

Fees and charges are applicable on the Quione platform. Fees charged are:

Trading Fee

  • Base currency pairs attract no trading fee. A trading fee of 0.25% is applied for trading other currency pairs. The base currency pair is the fiat currency which is assigned to your account to enable you to fund your account with fiat currency.
  • All pairs that feature Ethereum (ETH) attract a fee of 0.1%.
  • Pairs featuring Bitcoin Cash (BCH) will attract a 0.25% fee. 

Deposit Fee

  • Quoinex takes no fees for deposits of either fiat currency or cryptocurrencies. The fees charged by banks for wire transfers are paid by users.

Withdrawal fee

Withdrawal fees (excluding bank fees borne by users) are as follows:

  • Crypto withdrawals:
Currency Minimum withdrawal amount Withdrawal fee
BTC 0.02 BTC zero
ETH 1 ETH zero
BCH 0.02 BCH zero
  • Fiat withdrawals
Currency Minimum withdrawal amount Withdrawal fee
JPY 1500 JPY 500 JPY
HKD 120 HKD 40 HKD
INR 2000 INR 325 INR
IDR 200,000 IDR 1%, minimum 25,000 IDR
PHP 675 PHP* 225 PHP*

Security Measures

Extensive security measures are deployed by Quoine to secure the fiat and cryptocurrency holdings of its clients.

  • All cryptos owned by traders are stored using a segregated wallet system. Multisig cold wallets are used to ensure controlled access to funds.
  • Extensive Know Your Customer (KYC) protocols are followed by Quione to identify all users of its products.
  • Transactions are constantly reviewed to watch out for money laundering.
  • Daily reconciliation of accounts is performed. The process is automated as part of risk management.
  • Users can whitelist their Bitcoin and IP addresses for added security. This feature blocks any login attempts from any computer or device not whitelisted by the trader.
  • All end-to-end communication and personal information are encrypted.
  • Multi-factor authentication with 3 login layers ensures top-notch protection against authorized logins and transactions.

Quoinex provides its clients with a cold wallet, which segregates actual funds used in trading from unused funds.

Customer Support

How do users and potential clients of Quione keep in touch with the team? Most of Quoinex’s contacts are social media based.

Pros and Cons


  • Quoinex offers a highly competitive fee structure.
  • More countries are accepted on the Quoinex platform than most of the existing crypto exchanges in the world today.
  • There are several layers of security for users on the exchange.
  • Great liquidity.
  • The company is regulated by the JFSA, which has a reputation as a strict regulator. This ensures the protection of customer funds and transparency in the trade process.


  • US Clients are not accepted on the exchange.
  • Customer support is restricted to social media.


  • Where is Quoinex located?

Quoinex’s headquarters is located in Japan.

  • How can I fund my Quoinex account?

You can only use bank wires to do this. You must initiate a Funding Request on the Quione website. This will lead to the issuance of a Deposit ID, which is then used to complete the bank transfer.

  • What is the average withdrawal time for Quoinex?

Bank wires can take as few as 2 days and as many as 7 days to be processed. It depends on the trader’s location and time of initiation of the transaction.

  • Is Quoinex Safe to Use?

Quoinex provides top-notch security that works at various points to provide a safe and secure environment to do cryptocurrency/blockchain business. Powered by Japanese technology which has a global reputation to over-deliver on its promises, Quoinex can be considered safe to use.

  • Is Quoinex legit, or is it a scam?

Quoinex is a legit company. Even though the company is new (founded 2017), it has put in place a lot of measures to ensure that its users can trade/exchange cryptos and launch smart contracts in a secure environment.

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Coins Available
  • Bitcoin
  • Ethereum
Accepted Countries
  • Australia
  • Cameroon
  • Chad
  • Canada
  • christmas-island
  • Denmark
  • France
  • Greece
  • Haiti
  • Iceland
  • Libya
  • Mexico
  • Nepal
  • Belize
  • Romania
  • Cape Verde
  • saint-pierre-and-miquelon
  • Senegal
  • Sri Lanka
  • United Kingdom
  • Eritrea
  • Faroe Islands
  • Gambia
  • Indonesia
  • Lebanon
  • Angola
  • Malta
  • Bahamas
  • Benin
  • Chile
  • Ghana
  • Gibraltar
  • Grenada
  • Guinea-Bissau
  • Tonga
  • Kenya
  • Finland
  • Namibia
  • Oman
  • Jamaica
  • Palau
  • saint-barthelemy
  • Solomon Islands
  • Kyrgyzstan
  • Tunisia
  • virgin-islands-u-s
  • Macao
  • martinique
  • Peru
  • Puerto Rico
  • reunion
  • saint-martin-french-part
  • Sweden
  • Trinidad and Tobago
  • american-samoa
  • Yemen
  • Aruba
  • Bahrain
  • Bulgaria
  • Colombia
  • Cyprus
  • Algeria
  • bouvet-island
  • Burkina Faso
  • Cambodia
  • Curacao
  • Kuwait
  • Russian Federation
  • Saint Lucia
  • South Sudan
  • Tanzania
  • Turkey
  • guadeloupe
  • Virgin Islands, British
  • Japan
  • South Korea
  • Malawi
  • Maldives
  • Netherlands
  • Botswana
  • Qatar
  • Saint Kitts and Nevis
  • cocos-keeling-islands
  • Saint Vincent and the Grenadines
  • Taiwan
  • Tuvalu
  • Vatican City
  • Uruguay
  • western-sahara
  • Malaysia
  • Moldova
  • Nauru
  • Papua New Guinea
  • svalbard-and-jan-mayen
  • Zambia
  • Andorra
  • anguilla
  • Bolivia
  • Afghanistan
  • Laos
  • Dominican Republic
  • Mauritania
  • Egypt
  • Gabon
  • New Caledonia
  • Morocco
  • sint-maarten-dutch-part
  • Uganda
  • Nigeria
  • Swaziland
  • Vietnam
  • wallis-and-futuna
  • Austria
  • Barbados
  • Djibouti
  • Equatorial Guinea
  • Comoros
  • Estonia
  • Fiji
  • Ethiopia
  • Guam
  • Guernsey
  • Mali
  • Hong Kong
  • Ireland
  • Italy
  • Philippines
  • Poland
  • Madagascar
  • Sierra Leone
  • montserrat
  • Vanuatu
  • Panama
  • Portugal
  • Samoa
  • pacific-islands
  • Saudi Arabia
  • Timor-Leste
  • Albania
  • Burundi
  • Guinea
  • Armenia
  • Bangladesh
  • Belgium
  • Kiribati
  • Lithuania
  • Bhutan
  • Mongolia
  • Cayman Islands
  • Myanmar
  • Niger
  • Rwanda
  • Cook Islands
  • saint-helena-ascension-and-tristan-da-cunha
  • Sao Tome and Principe
  • Slovakia
  • Czech Republic
  • Thailand
  • tokelau
  • United Arab Emirates
  • Ecuador
  • united-states-minor-outlying-islands
  • Germany
  • India
  • Liechtenstein
  • Luxembourg
  • Marshall Islands
  • Monaco
  • Mozambique
  • New Zealand
  • niue
  • Pakistan
  • pitcairn
  • Togo
  • Uzbekistan
  • Venezuela
  • Antigua and Barbuda
  • aland-islands
  • falkland-islands-malvinas
  • Argentina
  • Guyana
  • Kazakhstan
  • Lesotho
  • Central African Republic
  • Northern Mariana Islands
  • Norway
  • Paraguay
  • San Marino
  • Spain
  • Suriname
  • Switzerland
  • Tajikistan
  • Guatemala
  • Honduras
  • Mauritius
  • Nicaragua
  • Singapore
  • Somalia
  • turks-and-caicos-islands
  • Azerbaijan
  • Bermuda
  • Brazil
  • Brunei
  • China
  • Costa Rica
  • El Salvador
  • Georgia
  • Greenland
  • Hungary
  • Israel
  • jersey
  • Jordan
  • Latvia
  • Micronesia
  • Seychelles
  • South Africa
  • Turkmenistan
  • Ukraine
  • Isle of Man
  • french-guiana
  • French Polynesia

Payment Method

Deposit Options
Wire Transfer, cryptocurrency
Withdrawal Options
wire-transfer, cryptocurrency
Company Information
Exchange DetailsInfo
Headquarters CountryJapan
Foundation Year2014
Trading AllowedYes
Contact Information

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