BingX Exchange is a rapidly growing platform that offers a range of cryptocurrency services including trading, storage, transfer, and management of digital currencies. The exchange was founded in Taiwan in 2018 by a team of experienced professionals from top financial institutions such as JPMorgan Chase and Standard Chartered Bank, as well as leading internet companies such as Google, Tencent, and Alibaba. With over a decade of experience in the finance and internet industries, and having served billions of users, the founding team and core members are highly skilled and knowledgeable. BingX is a specialized exchange that focuses on contract trading and cryptocurrency social networking. Despite market fluctuations, the system is highly sophisticated and committed to providing users with the best contract trading experience.
The importance of cryptocurrency exchanges has become increasingly prominent with the rapid development of the cryptocurrency market. In recent years, cryptocurrencies have become a focus of global investors, with many people hoping to participate in this market. The emergence of BingX Exchange provides these investors with a convenient, fast, and secure trading platform.
BingX Exchange utilizes multiple security technologies and mechanisms to ensure the security of user assets. The exchange employs advanced encryption technology and security mechanisms to comprehensively protect user assets and personal information. If you’re interested in participating in the cryptocurrency market, BingX Exchange is a great choice.
By using the exclusive registration code 【NOKKS5HN】, new users can enjoy special offers, including a 10% discount on transaction fees and a gift of $160.
Registering for a BingX account.
What Makes BingX So Popular?
BingX primarily offers four types of product services, with contracts and copy-trading being the main focus:
- BingX offers four primary product services, with a focus on contracts and copy-trading:Spot trading: suitable for novice coin-to-coin trading, including flash exchange and spot grid functions.
- Contract trading: derivative trading that does not involve actual assets, divided into standard contracts and advanced contracts.
- Fiat-to-crypto trading: allows users to buy coins with TWD through C2C on BingX, without any handling fees.
- Copy-trading: a social copy-trading feature that BingX promotes, allowing users to track posting updates.”
Spot Trading
Spot trading on BingX is divided into three functional blocks. The first block is general coin-to-coin trading, which is similar to buying and selling stocks in traditional finance. It involves a payment-and-delivery transaction and is suitable for new traders to learn. BingX currently supports trading pairs for more than 200 cryptocurrencies. For more information on new coin listings, please refer to BingX’s official announcements.
Coin-to-Coin Exchange
Coin-to-coin exchange refers to the process where investors pay for one asset to obtain another asset based on the real-time platform quotes. This is a simplified version of spot trading, suitable for novice users to quickly exchange coins. BingX’s coin-to-coin exchange provides exchange services for BTC, ETH, USDC, and USDT. The exchange rate is determined by the real-time price, depth, and price fluctuations of multiple spot exchanges, and a handling fee of 0.2% is charged for coin exchange. The advantage of coin-to-coin exchange is that it is fast and the transaction is guaranteed to be completed.
The third function is grid trading
which has become an increasingly popular form of automated trading in recent years. The concept is to divide prices into several blocks through the system and automatically execute the buy and sell strategy.
In addition to using the system’s pre-set settings, users can also manually create their own price ranges.
Contract Trading
Contract trading is a form of trading where traders can buy long or sell short on a target’s rise and fall using USDT (USDT-based) or BTC, ETH, and other currencies (currency-based) as chips. In contract trading, traders bet on the rise and fall of a certain cryptocurrency using chips, similar to financial futures.
Contract trading does not involve the exchange of actual assets. If the direction is correct, more chips can be gained; if the direction is wrong, chips will be lost. The leverage can be adjusted flexibly according to the needs of the trader and can support a maximum leverage of 1 to 150 times. Traders who are familiar with spot trading can use contract trading to make small bets and gain large profits, but at the same time, the leverage also amplifies the risks. Traders should be careful and cautious when engaging in contract trading.
Earlier, it was mentioned that BingX has a “User Protection Plan” that requires users to fill out information and assign a risk level before trading.
Each risk level has different maximum leverage and investment amount limits to prevent investors from incurring significant losses during investment.
BingX’s contract trading can be divided into “Standard Version ” and “Professional Version,” with the following differences.
- Margin difference: The Professional version only supports USDT-based, while the Standard version supports both USDT-based and currency-based.
- Commission difference: The Professional version supports limit orders, market orders, and plan commission, while the Standard version does not support limit orders at this time.
- Position holding difference: In the Professional version, multiple position holding orders share a margin for unified management, which is commonly known as “full position mode.” In the Standard version, the margin for each order is independent, which is more simple and intuitive, suitable for ordinary users and is also known as “isolated position mode.”
- The Professional version is a perpetual contract, which means there is no expiration date, but funding rates need to be considered.”
BingX currently supports more than 40 trading pairs for contract trading, covering the majority of popular cryptocurrencies. For those new to contract trading, it is recommended to start with the Standard version and use USDT-based and market orders for trading.
Registering for a BingX account.
Fiat-to-Crypto Trading: Depositing TWD through Third-Party Service Providers
BingX allows users to buy and sell cryptocurrencies through service providers listed on the platform. The current supported cryptocurrencies are USDT, ETH, and BTC. One of the most important features of this service is the ability to purchase cryptocurrencies with TWD, and payment methods can be made through credit cards, Apple Pay, and other means (depending on the service provider), making it very convenient for Taiwanese users.
The Best Copy Trading
BingX is one of the few cryptocurrency exchanges in the world that offers copy trading services. With copy trading, you can copy the trades of experts and achieve the same excellent returns as they do.
One of the biggest advantages of copy trading is that it allows you to profit through the copy trading system while also learning the trading logic of experienced traders to improve your own skills.
Setting up copy trading is simple. Once you have set it up, your funds will be synchronized to copy the trades of the experts and can be adjusted flexibly as needed. If you don’t know whom to copy, BingX provides a list of popular traders for you to choose from. Each trader also has a risk level, which allows you to choose according to your risk tolerance.
Additionally, through the community function, you can track the activities of your favorite traders and interact with them.
If you have confidence in your trading skills, you can apply to become a trader on BingX !
By using the exclusive registration code 【NOKKS5HN】, new users can enjoy special offers, including a 10% discount on transaction fees and a gift of $160.
Registering for a BingX account.
Become a BingX Leader Trader
In addition to copy trading, users with confidence in their trading skills can become a BingX Leader Trader to earn extra income. To become a BingX Leader Trader, you need to complete real-name authentication KYC and deposit at least 50 USDT. As a BingX Leader Trader, you can enjoy an additional 8% profit from user copy trading.
BingX Automatic Grid Trading Bot
Grid trading can be explained in one sentence: it involves setting a price range to buy low and sell high continuously. For example, if you expect the price of ETH to fluctuate between 1000 USDT and 2000 USDT in the long term, you can set 10 grids to divide this range with an interval of 100 USDT.
If you open an order at 1500 USDT, when the price falls to 1400 USDT, you will buy 1/10 of the investment amount, and when the price rises to 1600 USDT, you will sell 1/10 of the investment amount. The more grids there are, the more frequent the trades will be. For instance, if you set 100 grids for the same range, you will buy and sell once every 10 USDT of rise and fall.
By the way, all spot trading on BingX, including grid trading, currently enjoys a 0% transaction fee promotion.
BingX Fees
BingX’s trading fees are divided into two types: Standard Contracts and Professional Contracts.
- Independent trading fee rate: 0.045%
- Copy trading fee rate: 0.0375%
- The fee is calculated by multiplying the trading amount by the fee rate. The order fee is recorded when opening a position and deducted when closing the position.
For Professional Contracts:
- Taker fee: 0.040%
- Maker fee: 0.020%
- Users can be promoted to VIP and enjoy additional fee discounts when their trading volume meets the requirements.
BingX focuses on developing cryptocurrency business and providing a perfect trading system.
BingX Exchange Focuses on Both Ecological Security and Trading Environment, Continuously Improving the Product System, and Creating a Diversified Product System. Currently, Over 300 Cryptocurrencies and More Than 100 Contract Targets Have Been Listed in Spot Trading, Selecting Mainstream Cryptocurrency Assets to Fully Meet Users’ Needs.
BingX is also the first trading platform to connect high-level traders with ordinary users. Over 3,000 top professional traders from around the world have settled in BingX, continuously optimizing the copy trading system and user experience, cultivating community word-of-mouth marketing strategies, and planning for legal and compliant operations. BingX is committed to becoming the first choice for copy trading networks worldwide and providing users with ultimate product services.
Premium Customer Service Protects You
As a virtual currency exchange providing high-quality products and services, BingX has a professional, friendly, and efficient customer service team. They prioritize customers’ needs and ensure they feel cared for and supported. Here are several features of BingX’s premium customer service :
- Efficient and Fast: BingX’s customer service team has professional skills and rich experience, enabling them to quickly handle customer problems and concerns and provide timely responses and solutions.
- Thoughtful and Careful: The BingX customer service team is attentive to customers’ needs and feedback, providing personalized advice and solutions to make customers feel carefully taken care of.
- Professional and Friendly: BingX’s customer service team members are not only skilled and knowledgeable but also friendly and approachable. They build positive relationships with customers through their professional and friendly attitude.
In summary, BingX’s customer service is high-quality and trustworthy. If you need support or assistance, please don’t hesitate to contact BingX’s customer service team.
Support for Multiple Cryptocurrency Trading
BingX Exchange supports the trading of various cryptocurrencies, including mainstream ones like Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Bitcoin Cash (BCH), EOS, and emerging digital currencies such as ZEC and DASH. Users can buy and sell these digital currencies on BingX Exchange to appreciate and transfer assets.
Global Derivatives Trading Volume Ranking
As of April 25th, 2023, BingX ranks 8th among derivative exchanges on Coinmarketcap with a 24-hour trading volume of 6.7 billion US dollars, equivalent to approximately 197 billion New Taiwan dollars. For a medium-sized cryptocurrency trading platform, this trading volume is already remarkable. However, BingX’s trading volume is also subject to market conditions and other factors.
Is BingX Legal and Safe?
BingX Exchange holds an MSB (Money Services Business) license issued by the US FinCEN, which ensures trading security.
You can check BingX’s MSB license by visiting this link: [https://www.fincen.gov/msb-state-selector].
Once you click the link, enter “BingX” in the LEGAL NAME field and click Search to find BingX’s MSB license.
To start secure contract trading on BingX,
By using the exclusive registration code 【NOKKS5HN】, new users can enjoy special offers, including a 10% discount on transaction fees and a gift of $160.
click on this registration link : 【https://bingx.com/invite/NOKKS5HN】
Registering for a BingX account.
Providing Asset Reserve Proof
While many exchanges have asset reserve proof, BingX’s is considered more reliable because their 2022 report was verified by the authoritative third-party audit firm Mazars. Currently, the pledge rates for BTC, ETH, USDC, and USDT on BingX are 132%, 122%, 186%, and 112%, respectively.
On March 15th, 2023, BingX updated their asset reserve ratios again, increasing the margin ratios for BTC, ETH, USDC, and USDT from last year’s levels. The current pledge rates are 143%, 141.47%, 123.33%, and 181.83% for BTC, ETH, USDC, and USDT, respectively.
User Protection Plan
BingX offers a 100% margin guarantee program to enhance security. In response to the FTX incident, BingX launched this program to prevent the misappropriation of user funds. They release Merkel tree proofs weekly and have hired authoritative audit firms to conduct audits. For more information, please visit BingX’s margin page.
Currently, BingX’s mainstream assets are BTC, ETH, USDT, and USDC. Public information shows that all four assets have reserves of over 100%, making BingX a relatively safer exchange.
Why is BingX Exchange considered the safest exchange?
Compared to other exchanges, BingX Exchange has multiple advantages in risk control and security management:
Risk control: BingX Exchange has a robust risk control mechanism that employs advanced risk assessment technology to monitor trading activities in real-time. This allows them to quickly identify and handle risk events. Additionally, the exchange has multiple security checkpoints to monitor and analyze users’ trading behavior from various angles, ensuring the security of users’ assets.
Security management: BingX Exchange has implemented multiple security measures, such as SSL encryption transmission and two-factor authentication, to protect users’ personal information and assets from improper infringement. The exchange also has several security checkpoints to monitor and analyze users’ trading behavior from multiple angles, ensuring the security of users’ assets.
Customer service: BingX Exchange’s customer support team is highly professional and can provide timely and effective support to solve various problems and concerns that users may encounter. The exchange also has a complete customer service system, providing 24/7 online customer support. Users can contact customer service personnel through various channels to obtain timely assistance.
Overall, BingX Exchange has a high level of risk control and security management. The advanced technology and multiple security measures adopted by the exchange can effectively ensure users’ trading security. Additionally, the exchange has a professional customer service team that provides round-the-clock customer support, ensuring users have the best possible trading experience.
BingX Exchange PTT Review Records
BingX has publicly released the following records related to AMA and PTT:
In July 2021, Lazy Economics hosted an AMA with the previous iteration of BingX Exchange. The Q&A content included the types and features of BingX contracts, an introduction to the bi-directional holding function, an introduction to the following function, and suggestions for selecting following traders.
BingX PTT reviews mainly consist of users sharing their experiences and discussing contract trading. Overall, there are no negative reviews, and most users consider BingX as the safest cryptocurrency trading platform that eliminates worries about being scammed. However, for beginners, it is recommended to use BingX’s standard contracts, which are more user-friendly.
BingX Registration Tutorial and KYC Steps
Now, we will guide you on how to register with BingX Exchange quickly.
To begin, please register an account using Crypto Rainbow’s exclusive invitation link:
【 https://bingx.com/invite/NOKKS5HN 】By doing so, you can enjoy a 10% fee discount and receive a $160 gift within 90 days. (The discount will be returned to your wallet daily from 0:00 to 1:00.)
Click to register with BingX
Enjoy a 10% fee discount + $160 gift!
Exclusive discount code (click to copy) | NOKKS5HN
Registering for a BingX account.
Enter your email and password, click next to receive the verification code, and you can complete the registration.
Additionally, the official will provide you with a 10 USDT cashback coupon and 10,000 USDT in simulated funds, allowing you to familiarize yourself with various investment operations.
After completing registration, the next step is KYC real-name authentication, which is required to comply with international anti-money laundering regulations and protect your assets from theft. Additionally, unlocking KYC can increase trading and withdrawal limits.
By using the exclusive registration code 【NOKKS5HN】, new users can enjoy special offers, including a 10% discount on transaction fees and a gift of $160.
click on this registration link : 【https://bingx.com/invite/NOKKS5HN】
Registering for a BingX account.
Summary
BingX Exchange is a secure, reliable, and professionally managed cryptocurrency trading platform with excellent security and risk control measures. The exchange uses advanced technology and multiple security measures to ensure the security of user transactions. The customer service team is professional and can provide timely and effective support to resolve various issues and concerns of users.
If you want to learn more about BingX Exchange, visit their official website at https://www.bingx.com/ or follow their social media accounts on Twitter, Telegram, etc. Through these channels, you can stay updated on the latest news and updates from the exchange.
For the future development of BingX Exchange, we anticipate that it will continue to invest in security management and risk control to further enhance the security and reliability of the trading platform. With the continuous growth and maturity of the cryptocurrency market, BingX Exchange is expected to become one of the preferred trading platforms for more users. We also urge readers to pay attention to the development trends of the cryptocurrency market, stay informed about the latest industry dynamics and trends, and understand investment opportunities and risks better.
