CoinBene Crypto Exchange Review: Fees, Safety, and Real User Problems in 2026

When you’re looking for a crypto exchange with rock-bottom fees, CoinBene sounds like a dream. No withdrawal fees. Trading fees as low as 0.01%. Over 170 coins to trade. Sounds too good to be true? For some traders, it is. CoinBene has been around since 2017, based in Singapore, and claims to serve users in over 200 countries. But behind the low fees and clean interface, there’s a darker side most reviews won’t tell you outright.

Low Fees Are Real - But So Are the Trade-Offs

CoinBene’s biggest selling point is its fee structure. At 0.01% per trade, it’s among the cheapest exchanges you’ll find. Compare that to Coinbase’s 0.5% or even Binance’s 0.1%, and the difference is obvious. Withdrawals? Free - except for the blockchain mining fees you can’t avoid. That’s rare. Most exchanges charge $5-$10 to pull out your crypto. CoinBene doesn’t. That’s a win for high-frequency traders or anyone moving crypto often.

But here’s the catch: you can’t deposit fiat money. No USD, EUR, or GBP. You need crypto already in your wallet to start trading. That means if you’re new to crypto, you can’t just link your bank account and buy Bitcoin on CoinBene. You have to buy it elsewhere - say, on Coinbase or Kraken - then send it over. For beginners, that’s a major roadblock. For experienced traders? It’s just another step.

The Interface: Simple on Paper, Confusing in Practice

Some reviews say CoinBene’s interface is clean and easy to use. Others call it complicated and outdated. The truth? It depends on who you ask.

Long-time traders who’ve used similar platforms like Huobi or OKX often find CoinBene familiar. The order book layout, charting tools, and trade buttons are where you’d expect them. But users new to crypto report confusion. One review from March 2024 on Wikibit says, “The user interface of the cryptocurrency Brilliant Coin is not user-friendly, quite complicated.” That’s not a typo - it’s a real user’s complaint. CoinBene’s app, available on iOS and Android, doesn’t fix the issue. It’s functional, but not intuitive. No guided onboarding. No tooltips. No clear help section.

If you’re used to Robinhood’s simplicity or Binance’s modular dashboard, CoinBene feels like a step backward. It’s not broken - it’s just not designed for newcomers.

Security: Basic, But No Transparency

CoinBene offers two-factor authentication (2FA). That’s standard. You can enable Google Authenticator or SMS-based codes. You can also set up withdrawal address whitelisting. That’s good. But here’s what’s missing: no public information about cold storage percentages, insurance funds, or audit reports.

Major exchanges like Coinbase and Kraken publish regular proof-of-reserves reports. They tell you exactly how much crypto they hold versus what they owe users. CoinBene doesn’t. Not even a hint. That’s not normal in 2026. When you can’t verify where your assets are stored, you’re trusting them on faith - not facts.

There’s also no mention of multi-sig wallets, hack insurance, or a bug bounty program. Those are common among top-tier exchanges. CoinBene doesn’t list any. That’s not necessarily a sign of fraud - but it’s a sign of opacity. And in crypto, opacity equals risk.

Trustpilot Rating: 1.5/5 - What Are Users Really Saying?

The numbers don’t lie. Trustpilot shows CoinBene with a 1.5 out of 5 rating based on 34 reviews as of late 2025. That’s not a glitch. That’s a pattern.

Users report slow customer support. One person waited 11 days for a reply to a withdrawal issue. Another said their account was frozen without explanation. A third complained about “hidden fees” - even though CoinBene claims no withdrawal fees. That’s a red flag. Either users are confused, or there’s something being hidden.

The biggest complaint? Lack of transparency. Not about fees - about the company itself. Who runs it? Where are the founders? What’s the legal structure? CoinBene’s website has no “About Us” page with real names, photos, or bios. Just a generic corporate paragraph. That’s unusual for a platform handling millions in trades.

What’s Missing: Leverage, Fiat, and Support

CoinBene doesn’t offer margin trading or leverage. That’s a dealbreaker for advanced traders. Binance, Bybit, and OKX let you trade with up to 125x leverage. CoinBene? Zero. If you’re trying to amplify gains, you’ll need another platform.

Customer support? You’ll find a ticket system. But there’s no live chat. No phone number. No Twitter response team. No active Reddit community. No YouTube tutorials from the team. If you get stuck, you’re on your own.

And while CoinBene supports multiple languages - English, Chinese, Korean, Russian - there’s no evidence they hire native speakers to run support. That means if your English isn’t perfect, your chances of getting help drop fast.

Who Is CoinBene For? And Who Should Avoid It?

CoinBene might make sense for one type of trader: experienced crypto users who already own multiple coins and want to swap them with minimal fees. If you’re trading between ETH, SOL, and DOT every day and don’t need fiat access, CoinBene’s 0.01% fee could save you hundreds a year.

But if you’re a beginner? Avoid it. You’ll struggle with the interface. You won’t be able to deposit money directly. You’ll have no support when things go wrong. And if your funds get stuck? Good luck getting them back.

If you’re an advanced trader looking for leverage? Look elsewhere. CoinBene doesn’t offer it. If you care about transparency and trust? CoinBene’s silence on audits, team members, and security practices is a warning sign.

Final Verdict: A Niche Tool With Major Red Flags

CoinBene isn’t a scam. It’s still operating. It still processes trades. It hasn’t been shut down by regulators. But it’s also not a safe or reliable exchange for most people.

Its low fees are real. Its interface is functional. But its lack of transparency, poor user ratings, and absence of basic trust signals make it a risky choice. In 2026, you don’t need to settle for an exchange that hides who it is. There are dozens of alternatives with better security, clearer support, and full fiat on-ramps.

If you’re a pro with crypto already and want to minimize trading costs - and you’re okay with zero safety net - then CoinBene might work for you. For everyone else? Keep looking.

If you’re still considering CoinBene, test it with a small amount first. Send $50 worth of ETH or BTC. Try a few trades. See how fast support responds. Check if your withdrawals go through cleanly. If anything feels off, walk away. There are better, safer options out there - even if they cost a little more.