On November 1, 2018, the Canadian cryptocurrency exchange CoinField, which uses XRP as the base currency, announced that it had entered into operation with 20 currency pairs against the XRP.
CoinField, based in Vancouver and founded in December 2017, calls itself “the best cryptocurrency exchange platform in Canada with the largest portfolio of currencies available in that country.” First, the company stated that it was exploring the idea of using XRP as the base currency on September 22.
However, it was not until November 1 that CoinField tweeted that its trading platform had begun to operate, and that it was available in 61 countries.
According to the CoinField press release, CoinField offers 28 currency pairs in six fiat currencies: US dollar (USD), Canadian dollar (CAD), Euro (EUR), Pound Sterling (GBP) and Japanese yen (JPY) and United Arab Emirates Dirham (AED). However, there are, in fact, 29 trading pairs. In addition, the company mentioned that CoinField’s updated match engine is “capable of performing up to 75,000 transactions per second, or up to 1.5 million API calls per second.”
CoinField commissions start at 0.05% (maker´s fee). The market maker “creates” the market as it provides liquidity, while the taker takes liquidity out of the market. If the highest selling price and the lowest buying price is ok for the trader and agrees to trade, he become a market taker.
- USD / XRP: 0.05% commission for the market maker; 0.14% commision fee for the taker
- BTC / XRP: 0.05% commission for the market maker; 0.14% commision fee for the taker
- ETH / XRP: 0.09% commission for the market maker; 0.15% commision fee for the taker
Another remarkable thing about CoinField is that it claims to be “the first exchange of cryptocurrencies in Canada that offers a complete API system to all traders for use in trading strategies or applications or innovative trading robots”.
What crypto assets can we trade in Coinfield?
Cryptocurrencies
CoinField offers the possibility to trade with the following cryptocurrencies: Bitcoin, Ripple, Dash, Litecoin, Bitcoin Cash, Zcash, Bitcoin Gold, 0x, Golem, Augur, OmiseGO, SALT, BAT and Zilliqua.
FIAT coins
The following fiat coins can be traded in CoinField: US dollars, sterling pounds, Japanese yen, United Arab Emirates dirham and the euro.
CoinField trading platform
Here is how the user interface of the trading platform looks:
This platform shows in real-time the long and short cryptocurrencies trades in its market (market depth). In addition to the classic market orders, CoinField also has stop limit orders and limit orders, which allows for more complex transactions.
For more advanced traders, the platform has Good Till Canceled, Good Til Time, and Immediate or Cancel orders.
The price charts can be viewed in a variety of time frames, from 5 minutes to 1 week. These charts come with more than 50 indicators and built-in analysis tools, such as moving averages, oscillators, Elliot waves and others.
CoinField Referral Program
CoinField also has an interesting reference program: when “loyal” users bring new traders to the platform through invitations, they are rewarded with 10 XRP and a commission of 25% of the trading fees that the referred users pay to the exchange for their transactions.
Opening an account with CoinField
Babak Bob Ras, co-founder, and CEO of CoinField, said this about his product:
“In a very short time, XRP has proven to be one of the most reliable and cost-effective blockchain networks in the industry. By adding XRP as our base currency in all trading pairs, our users can move funds in and out of different exchanges or different wallets in a matter of seconds. We are directly benefiting our users with a stable and proven base. We are also introducing an extremely low fare program that can make our platform the preferred trade center for merchants around the world. “
The opening of an account with this exchange is free.
