CoinField Crypto Exchange Review 2025 - Fees, Features & Scam Warning

If you’re hunting for a reliable place to trade crypto, you’ve probably seen the name CoinField review pop up in a few forums. The platform once promised low‑cost trading and a sleek mobile app, but recent investigations paint a very different picture. Below we break down what CoinField was, how it worked, why it’s now listed as a scam, and what steps you can take if you’ve been caught in the fallout.

What Is CoinField?

CoinField is a cryptocurrency exchange that launched in January 2018, originally marketed as a Canadian‑based service with a European footprint. It offered a suite of trading tools, a proprietary SOLO token ecosystem, and even a plastic debit‑card meant for offline purchases. The exchange supported 28 digital assets, including major coins such as Bitcoin, Ethereum, Tether and Ripple. At first glance it looked like a solid mid‑size exchange competing with the industry giants.

Key Features and Trading Options

• WebTrader and CoinField Pro mobile app for on‑the‑go trading.
• OTC (over‑the‑counter) desk for large‑volume trades.
• White‑Label exchange solutions for businesses.
• Referral program and partnership options for bloggers.

The platform required a minimum deposit of 0.004 BTC (or equivalent) and imposed a tiered fee structure: 0.15% maker fee and 0.25% taker fee. Bitcoin withdrawal cost was fixed at 0.0015 BTC. While some early reports hinted at the possibility of up to 100× leverage, most credible sources confirm that CoinField never officially offered leveraged products.

Security, KYC and AML Measures

CoinField claimed compliance with European‑style AML (Anti‑Money Laundering) and KYC (Know Your Customer) standards. During registration users had to upload a government‑issued ID, provide a residential address and pass a facial‑verification step. Two‑factor authentication (2FA) was optional but recommended. However, the platform never disclosed the specific encryption algorithms it used, leaving a gap in the security narrative.

Customer Support and User Experience

Support was limited to a ticketing system and email. The exchange advertised 24/7 technical assistance but lacked a live‑chat or phone line. Early adopters praised the clean UI of the WebTrader, yet many later users complained about slow response times, “Error 522” site outages, and unexplained account suspensions.

Why CoinField Is Now Considered a Scam

In December 2023, Cryptowisser, a leading crypto‑exchange review site, placed CoinField in its “Exchange Graveyard” after receiving multiple reports of failed withdrawals and a complete halt in customer communication. Users on Reviews.io gave the platform an average rating of 2.5/5, with many comments detailing months‑long withdrawal queues and sudden account lockouts.

Investigations highlighted the following red flags:

1. All withdrawal requests stopped processing after October 2023.
2. Support tickets went unanswered for weeks, then the website displayed generic “Error 522” messages.
3. Independent watchdog usatales.com reported an abrupt operational shutdown without prior notice.
4. Executive figures such as Surya Chowdhury and Alex Lightman have not issued public statements.

The consensus among the crypto community is that CoinField performed an exit‑scam, leaving users’ funds trapped with little chance of recovery.

How CoinField Stacked Up Against Competitors

The table shows that while CoinField’s fees were competitive, the platform’s risk profile dwarfs any cost advantage.

What to Do If You’ve Lost Funds on CoinField

• Document everything: Save all email threads, transaction IDs, and screenshots of error messages.
• File a complaint with local regulators: In Canada, report to the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC); in the UK, contact the Financial Conduct Authority (FCA).
• Alert crypto‑asset recovery services: Some firms specialize in tracing funds from exchange collapses.
• Join community channels: Forums like Reddit’s r/CryptoCurrency often share the latest updates and coordinated legal actions.
• Consider legal counsel: If the amount is significant, a lawyer experienced in crypto‑asset litigation can evaluate class‑action possibilities.

While recovery chances are slim, taking these steps maximizes the odds of being included in any future restitution effort.

Bottom Line - Should You Use CoinField?

Given the confirmed shutdown, the lack of withdrawals, and the official scam classification by Cryptowisser, the answer is a resounding no. For any new crypto‑trading activity, stick with exchanges that are transparent, regulated, and have a proven track record of handling withdrawals promptly.