Introduction
BingX cryptocurrency exchange, was officially launched back in 2018 in Singapore. BingX.com exchange has additional offices in Canada, EU and Australia. Upgraded from Bingbon, it has become a significant crypto derivative market player. With a user base exceeding 10 million globally, BingX.com offers a wide range of services, including spot and derivatives trading, innovative tools like AI-assisted trading is attracting crypto traders and investors due to its user-centric features.
BingX Supported Cryptocurrencies
The selection of cryptocurrencies on the BingX crypto exchange is varied. BingX trading platform supports 1000+ cryptocurrencies and around 1200+ trading pairs. It includes top notch crypto assets such as Bitcoin ($BTC), Ethereum ($ETH), Binance Coin ($BNB), Ripple ($XRP), Dogecoin ($DOGE), and many other along with ChainLink ($LINK) and Pancakeswap. This wide range serves not only beginner traders but also professionals who can look into different markets and investment possibilities.
Fee Structure of BingX.com
With regards to fees, Bingx is an industry leader due to its low and competitive fee structure that has attracted and benefitted both high and low volume traders. If we talk about spot trading, BingX.com facilitates both make and taker with minimal fee starting form 0.1% with multiple discounts.
The charging rate for takers in continuous futures trading is 0.05%, while the reduced fee of makers is only 0.02%. These rates are lower than the global average, which makes BingX a best crypto exchange with low fee for budget-minded traders. It is also important to mention that the fees depend on your trading volume.
Features of BingX Exchange
BingX provides all the features that a cryptocurrency trader needs. Their affiliate program is very generous, as users can earn up to 60% of the trading fees that their referrals generate without any limit on time for collecting commissions. This is perfect for those looking to create passive income.
BingX also has a Crypto Social Trading Network, allowing traders to engage and follow strategies and copy trades from thought leaders. If you are interested in leveraged trading, BingX provides up to 100x leverage and it is important to take caution because of the risk involved. BingX has an extra-ordinary mobile app that is suitable for both iPhone and Android users, making it easy to manage portfolios.
Trading view of BingX Crypto Exchange
Every transaction has a trading view and BingX is not exempted in this regard. BingX crypto exchange integrates advanced TradingView charts into its platform which are known for customizable indicators, real time data, and multi-timeframe analysis for the informed decisions.
It enables users to analyze price charts, place orders, and review their trade history on the trading view. Although it does not provide special features, a comprehensive and easy-to-navigate trading view is vital in any crypto exchange platform.
Deposit and Withdrawal over BingX Trading Platform
Unlike fiat deposits, BingX supports only crypto deposits as users are required to transfer crypto assets from external wallets or exchange with onchain address. On the other hand, BingX provides an alternative to people who do not have crypto holdings, users can open an account on a platform that allows fiat deposits like Binance and buy cryptos there before moving it into BingX. This provides a flexible environment for acquiring digital assets.
Security and Privacy of BingX Exchange
BingX is security-oriented. They use full-chain SSL encryption to safeguard user data and store digital assets in cold storage wallets requiring several withdrawal codes. Furthermore, they have an insurance trust fund in case of theft loss.
The trading exchange also provides Two-Factor Authentication (2FA), through which users can set a fund code and secondary password that shall be used during deposits, withdrawals, and trades. BingX has also been tested for security vulnerabilities by different organizations such as SlowMist and it offers a bug bounty program to incentivize users who report bugs.
Customer Support Services
Users receive support through the 24/7 live chat option available on BingX. This timely and responsive customer service is necessary to quickly address any problems or questions, which enhances a positive user experience.
Pros and Cons of BingX
Pros
- Low competitive trading fees
- Lucrative unlimited-time affiliate program
- Learning and copying trades based on Crypto Social Trading Network
- Mobile app for easy trading on the move.
- Emphasis on security and user privacy
- Responsive 24/7 customer support
Cons
- Few crypto options in comparison to other exchanges
- Doesn’t support fiat deposits
- Trading fees may vary depending on the trading volume
- Each withdrawal is charged based on a particular cryptocurrency
- High-leverage trading involves high risk
- Not available for US investors
Concluding Remarks
BingX provides a robust cryptocurrency trading platform with various assets, competitive fees, and innovative features such as Crypto Social Trading Network and an attractive affiliate program. Though it has certain cons, including a lack of US investors’ and no fiat deposits, yet it has a user community surpassing 10M with easy onchain deposits. For the cautious traders, it is legit due to its security, smart trading services with multiple discounts.
FAQs
Is BingX safe to use for crypto trading?
Yes, BingX.com exchange is very safe to use for the crypto trading due to its security measures like SSL encryption, cold storage and 2 factor-authentication.
What fee does BingX charge for trading?
BingX crypto exchange offers very competitive fees starting from 0.1% maker/taker fee for spot trading while for futures trading BingX charges 0.02% from make and 0.05% from the taker.
Does BingX support fiat deposits?
No, BingX does not support fiat deposits, however, it offers easy on-chain transfer from other exchanges which support fiat deposits.
This BingX.com review is solely for the informational and educational purpose and does not constitute and financial advice. As cryptocurrencies are highly volatile and prone to higher risk when it comes to trading, so do your own research (DYOR) before opting any crypto exchange for spot or futures trading based on fee, security and other related services.
ShahZaib Ahmed is a seasoned Crypto Journalist passionate about cryptocurrencies, blockchain technology, and decentralized finance (DeFi). With years of experience in the industry, ShahZaib Ahmed has written extensive news articles, price analysis articles and guide articles on Cryptocurrencies, Blockchain, DeFi, NFTs, Web3, and FinTech. Known for insightful analysis and a keen understanding of market trends, he brings complex concepts to life for beginners and seasoned investors.
- ShahZaib Ahmed
- ShahZaib Ahmed
- ShahZaib Ahmed
- ShahZaib Ahmed
Whoa! This blog looks exactly like my old one! It’s on a totally different subject but it has pretty much the same layout and design. Wonderful choice of colors!