Crypto Withdrawal Loss Calculator
CoinField Withdrawal Calculator
Important Notice
This calculator shows historical fees only. No withdrawals are possible from CoinField as of December 2023. If you've lost funds, please follow the recovery steps outlined in the article.
Results
Your Funds Are Likely Lost
Coins withdrawn from CoinField are trapped due to the operational shutdown. Recovery is extremely unlikely.
How This Compares to Legitimate Exchanges
| Exchange | Withdrawal Fee (BTC) | Fee Difference vs CoinField |
|---|---|---|
| CoinField | 0.0015 BTC | Base |
| Binance | 0.0005 BTC | 0.0010 BTC less |
| Kraken | 0.0004 BTC | 0.0011 BTC less |
| Other Regulated Exchanges | 0.0001 - 0.0005 BTC | Up to 0.0014 BTC less |
What To Do Now
- Document all evidence - Save transaction IDs and error messages
- File complaints with FINTRAC (Canada) or FCA (UK)
- Consider crypto recovery services specialized in exchange collapses
- Join community channels like Reddit's r/CryptoCurrency for updates
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:
- All withdrawal requests stopped processing after October 2023.
- Support tickets went unanswered for weeks, then the website displayed generic “Error 522” messages.
- Independent watchdog usatales.com reported an abrupt operational shutdown without prior notice.
- 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
| Exchange | Supported Coins | Maker Fee | Taker Fee | Withdrawal Fee (BTC) | Notable Risks |
|---|---|---|---|---|---|
| CoinField | 28 | 0.15% | 0.25% | 0.0015 BTC | Exit scam, unresponsive support |
| Binance | ≈600 | 0.02%‑0.10% | 0.02%‑0.10% | 0.0005 BTC | Regulatory scrutiny in some regions |
| Kraken | ≈200 | 0.00%‑0.16% | 0.10%‑0.26% | 0.0004 BTC | Higher fees for low volume |
| FameEX | Unspecified | 0.10% | 0.10% | Varies | Small user base, limited liquidity |
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.
Frequently Asked Questions
Is CoinField still operating?
No. Since December 2023 the exchange has been offline, and major review sites list it as a scam.
Can I recover my funds?
Recovery is unlikely, but you should file reports with financial regulators, keep all proof of transactions, and watch for any class‑action lawsuits that might emerge.
What fees did CoinField charge?
Maker fees were 0.15% and taker fees 0.25%. Bitcoin withdrawals cost 0.0015 BTC.
Which coins were available on CoinField?
The platform listed 28 assets, including Bitcoin, Ethereum, Litecoin, Tether, Ripple, ZRX, OMG, BAT and several others.
Is the SOLO token still usable?
No. The token was tied to the CoinField ecosystem, which has been shut down, rendering the SOLO token essentially dead.
VEL MURUGAN
October 13, 2025 AT 09:21Looking at the fee structure, it's clear CoinField was charging an absurd 0.0015 BTC per withdrawal – a blatant overcharge that screams exploitation. The numbers don’t lie; anyone doing the math sees a 300 % premium over legitimate platforms. Such a discrepancy should raise red flags for any rational investor. In short, the exchange was running a scam, and the community deserved better warning.
Russel Sayson
October 14, 2025 AT 02:01When you peel back the layers of CoinField's operational history, a pattern of reckless disregard emerges.
First, the withdrawal fee of 0.0015 BTC was not a mere inconvenience; it was a calculated bleed on users' wallets.
Second, the sudden halt of withdrawals in October 2023 signals a catastrophic failure of internal controls.
Third, the exchange's promise of a secure vault turned out to be a mirage, leaving funds locked in a digital purgatory.
Fourth, the lack of transparent communication forced victims into a nightmare of endless support tickets.
Fifth, regulatory bodies in Canada and the UK have already been alerted, indicating the gravity of the breach.
Sixth, the community's attempts to rally on Reddit underscore a collective desire for accountability.
Seventh, the comparison table starkly illustrates how CoinField's fees dwarf those of Binance, Kraken, and other regulated platforms.
Eighth, the inflated fee structure alone would have been enough to label the exchange as predatory.
Ninth, the fact that the platform continued to accept deposits while denying withdrawals is a textbook fraud.
Tenth, the exit strategy employed by the operators appears to be a silent disappearance rather than a structured wind‑down.
Eleventh, users are now left scrambling to document evidence for potential legal recourse.
Twelfth, the recommended steps-filing complaints with FINTRAC or the FCA-are not mere suggestions but essential safeguards.
Thirteenth, the emergence of specialized recovery services offers a glimmer of hope, albeit with no guarantees.
Finally, the lesson here is stark: always scrutinize fee structures and regulatory compliance before entrusting any exchange with your capital.
Isabelle Graf
October 14, 2025 AT 18:41Honestly, if you cared about your crypto you'd avoid CoinField like the plague.
Shane Lunan
October 15, 2025 AT 11:21CoinField looks like they just copied other sites and added a big fee. No wonder people got burned. It's a mess
Jeff Moric
October 16, 2025 AT 04:01Seeing the frustration is understandable; many felt the same betrayal when the withdrawal gate slammed shut. Documenting every transaction now is the most prudent step toward possible restitution. Remember, the community can advocate together for stronger oversight.
Kevin Duffy
October 16, 2025 AT 20:41Wow, what a rollercoaster! 😱 The fees alone were enough to make anyone's head spin. At least we have each other to share the pain and learn from this mess 😊
Tayla Williams
October 17, 2025 AT 13:21In reviewing the operational failures of CoinField, one must consider the broader implications for market integrity. The exchange’s fee schedule, which appears to be defiantly higher than industry norms, raises serious ethical concerns. Additionally, users who attempted to recieve their withdrawals found themselves stranded with no recourse, a situation that is indefensibly unacceptable. It is imperative that regulatory authorities enforce stricter compliance measures to prevent such incidents.
Brian Elliot
October 18, 2025 AT 06:01Indeed, the lack of oversight is glaring. While the contract terms were ostensibly clear, the execution fell short of any reasonable standard. Users deserve transparent fee disclosures and reliable withdrawal mechanisms. The community should push for clearer guidelines and perhaps a shared registry of trusted platforms.
Marques Validus
October 18, 2025 AT 22:41From a liquidity standpoint, CoinField's withdrawal model was a classic case of asset‑under‑collateralization, essentially turning every user into an unbacked creditor. Their fee architecture acted like a hidden tax, eroding net‑position and amplifying systemic risk across the DeFi ecosystem.
Mitch Graci
October 19, 2025 AT 15:21Oh great-another “innovative” exchange that decides to lock up everyone's funds!!! 🙄 The brilliance of charging 0.0015 BTC on withdrawals while simultaneously disabling the withdrawal function is truly a masterstroke in customer‑unfriendliness!!!
Mandy Hawks
October 20, 2025 AT 08:01The irony is palpable; an exchange touting security while effectively imprisoning assets undermines the very philosophy of decentralization. Such contradictions erode trust and highlight the urgent need for robust governance frameworks.
Scott G
October 21, 2025 AT 00:41From a legal perspective, the cessation of withdrawal services without prior notice constitutes a breach of contract under most jurisdictions. Affected parties may have grounds to pursue restitution through civil litigation, provided they retain comprehensive transaction records.
Millsaps Crista
October 21, 2025 AT 17:21Even though the situation feels hopeless, retaining optimism can motivate collective action. Sharing recovery resources and staying updated with official channels may increase the odds of retrieving some value.
Matthew Homewood
October 22, 2025 AT 10:01Optimism is valuable, yet it must be coupled with realistic expectations. Engaging with reputable recovery specialists, while acknowledging the low probability of full restitution, offers a balanced approach for those seeking closure.
Michael Grima
October 23, 2025 AT 02:41Sure, because paying a sky‑high fee and then getting nothing is exactly what I signed up for.
shirley morales
October 23, 2025 AT 19:21One must contemplate the broader ramifications of such a rudimentary debacle on the evolving digital asset paradigm; it is a stark reminder that not all platforms merit the veneer of legitimacy.
EDMOND FAILL
October 24, 2025 AT 12:01So, what does this mean for average investors? Are we supposed to become crypto‑experts overnight to avoid traps like this? The learning curve feels insane.
Jennifer Bursey
October 25, 2025 AT 04:41In light of these events, it's crucial for newcomers to lean on community‑driven research, leverage multi‑factor due diligence, and avoid platforms that sport outlier fee structures. A proactive stance can safeguard against future disappointments.