BingX exchange
2018
Not available
www.bingx.com
150+
Cryptocurrencies, Card Payment, Bank transfer
yes
yes
yes
yes
no
yes
yes
no
no
Fees vary depending on trading volume and whether the user is a maker or taker.
Vary / Not available
Vary
0.1% / 0.1 %
Yes, fees decrease as trading volume increases.
Ethereum: 0.000768 ETH
Tether: 1 USDT
Binance Coin: 0.0005 BNB
Cardano: 0.25 ADA
Solana: 0.008 SOL
Ripple: 0.2 XRP
Polkadot: 0.014 DOT
Dogecoin: 4 DOGE
Shiba Inu: 520936 SHIB
Stellar: 0 XLM
Litecoin: 0.00097 LTC
KYC is required.
Users need to provide identification documents and a proof of address.
optional
yes
yes
yes
yes
yes
150x
yes
yes
yes
yes
no
no
no
no
no
no
yes
no
yes
no
no
no
no
Users can earn rewards by staking their cryptocurrencies or by participating in the Learn to Earn program, which offers educational opportunities in exchange for rewards.
yes
yes
yes
yes
Over 200 countries worldwide, except for a handful of restricted countries
Mystery Boxes - Get mystery boxes on the 1st, 4th, and 7th day
BingX exchange review
BingX exchange is a cryptocurrency exchange that was established in 2018. It has rapidly grown in popularity, providing an excellent platform for trading popular cryptocurrencies such as Bitcoin, Ethereum, and Litecoin. All together you can trade more than 600 different cryptocurrencies.
This BingX review focuses on the various features and aspects of the exchange to help you make up your mind whether it might be worthwhile to join or not.
BingX exchange bonuses- claim up to 5125 USDT in bonuses
One of the benefits of trading on BingX exchange is the bonuses it offers to its users. New users can claim up to 5125 USDT in bonuses.
Of course, as is the case with most crypto exchanges out there, these bonuses come in form of numerous tasks you need to complete in order to release small parts of the maximum potential bonus.
In case of any crypto exchange, instead of deciding to join one or another platform based on the bonus they are offering, your decision should be based on their trust and safety, payment options, fees, crypto selection, so basically things that actually matter.
BingX exchange safety and regulation
Is BingX exchange safe to use
Safety is an essential concern when it comes to trading on cryptocurrency exchanges. BingX exchange employs a comprehensive security infrastructure, including two-factor authentication, SSL encryption, and cold storage to ensure funds are secure. The platform also implements anti-money laundering (AML) and know-your-customer (KYC) protocols to prevent fraudulent activities.
What's more, Bingx claims that 100% of the customers funds are backed by reserve funds.
BingX exchange licenses
BingX has branches in North America, Canada, EU, Hong Kong, and Taiwan.
They have obtained licenses from numerous countries, including USA, Canada, Australia,
BingX exchange account security options
Users can secure their BingX accounts by enabling two-factor authentication (2FA), withdrawing funds only to pre-authorized addresses, and setting up anti-phishing codes.
The platform employs various identity verification methods to confirm users identities.
Deposits and withdrawals on BingX exchange platform
- Cryptocurrencies
- Credit card
- Bank transfer
Does BingX exchange have a withdrawal limit?
BingX exchange imposes a minimum withdrawal amount. The minimum withdrawal amount varies depending on the cryptocurrency you want to withdraw.
How to deposit money into BingX exchange?
BingX exchange supports deposits through bank transfers, credit and debit cards, and cryptocurrency. Deposits via bank transfers can take up to three business days to reflect on your account. Credit and debit card deposits are processed instantly.
How to withdraw from BingX exchange?
BingX exchange allows users to withdraw their funds using crypto transactions. Withdrawal time depends on the transaction speed.
BingX exchange fees
Deposit fees
BingX exchange does not charge any fees for crypto deposits into its platform. In case of instant buy fiat options through third-party payment providers, BingX doesn not charge you anything, BUT the provider's exchange rates can vary. For example, depositing 100 EUR will get you 109 USDT with one payment provider while only 101 USDT with another.
So there are fees involved. But they depend on the payment provider.
Withdrawal fees
Withdrawal fees vary depending on the cryptocurrency being transferred. Some coins, such as Bitcoin and Ethereum, incur higher fees compared to others.
Trading fees
BingX exchange uses a maker-taker fee schedule. The maker fee, applied to orders that add liquidity to the order book, ranges from 0.03% to 0.1%, while the taker fee, applied to orders that remove liquidity from the order book, ranges from 0.05% to 0.15%.
But in most cases both maker and taker fee is 0.1%.
Trading on BingX exchange platform
BingX exchange offers an intuitive and user-friendly interface for trading cryptocurrencies. Its trading platform supports advanced trading features such as margin trading, stop-loss orders, and limit orders, among others.
How high leverage does BingX exchange offer?
The maximum leverage offered on BingXis 150x.
BingX exchange KYC
Do you have to verify your account on BingX exchange?
Not necessarily. You can trade and deposit/withdraw money without verification as well. But your maximum withdrawal is 50,000 USDT/day then. For verified users it's 100x higher.
How to verify your BingX exchange account?
Users are required to fill out a KYC form and submit the relevant documents such as a passport, driving license, and a selfie photo.
Why and when should you verify your BingX exchange account?
We recommend you verify your account right after registration. But obviously, that's up to you. If you will be dealing with huge amounts, then in order to increase the withdrawal limit, the going through the KYC is a must.
BingX exchange app
BingX exchange provides a mobile app for Android and iOS users, allowing them to access and manage their accounts on the go. The app supports basic trading features, such as buying and selling cryptocurrencies.
BingX exchange earn
BingX exchange offers a range of earning opportunities, most of them as rewards for trading. But every once in a while they have also good crypto staking offers as well as learn to earn promotions.
BingX exchange Customer support
BingX exchange provides various customer support channels, including email, live chat, and a help center, to assist users with their queries.
Pros and cons of using BingX exchange
Some of the advantages of using BingX exchange include its robust security features, user-friendly trading platform, and bonus offers. One of the drawbacks, however, is its somewhat limited range of cryptocurrencies available for trading.
Is BingX exchange simple to use?
BingX exchange has an intuitive interface, making it easy for beginners to navigate and trade on the platform.
What do traders think about BingX exchange based on other reviews and comments?
Going by user reviews and comments, BingX exchange has garnered a positive reputation for its excellent security measures, user-friendly platform, and customer support. At the same time there are traders who have had bad experience with their customer support, trading speed, and also fiat withdrawal costs.
Conclusion
BingX exchange provides an excellent platform for trading cryptocurrencies. Its robust security measures and user-friendly platform make it ideal for both novice and experienced traders. While it has some limitations, such as its limited range of cryptocurrencies available for trading, it remains a popular choice for many traders.
Top 3 Alternatives to BingX
If this exchange is not for you, find alternative exchanges with low fees below:
I became interested in cryptocurrencies only a bit more than two years ago. Since then I have been in investing in cryptos using different exchanges. And I also launched Cryptolorium.com when I started trading, just to share my crypto journey and my results.