Bitforex exchange
2018
Not available
https://www.bitforex.com/en/
51-200
Cryptocurrencies, Credit/debit card, Mercurio, Coinify, Banxa, AdvCash, MoonPay
no
yes
yes
yes
no
no
yes
no
no
Variable depending on trading volume, maker/taker status, and cryptocurrency
Depends on payment method, varying from free to 5% / No fiat withdrawals.
Roughly 2.5% to 15%. Deposits through MoonPay might be close to free.
0.1% / 0.1 %
Yes, with BF token
Ethereum: 0.00324348 ETH
Tether: 15 USDT
Binance Coin: 0.0005 BNB
Cardano: 2 ADA
Solana: 0.0512 SOL
Ripple: 3 XRP
Polkadot: 0.5 DOT
Dogecoin: 20 DOGE
Shiba Inu: 998966 SHIB
Stellar: 5 XLM
Litecoin: 0.001 LTC
KYC is mandatory for deposits, withdrawals, and trading.
Users need to provide personal information, ID verification, and address verification documents.
required
no
yes
yes
no
yes
100x
BitForex offers a variety of trading options, including margin trading and futures trading.
yes
yes
no
yes
no
no
no
yes
no
yes
They also offer Good till canceled, Immediate or cancel, Fill or kill, and Take profit orders.
yes
no
no
no
yes
yes
no
BitForex offers staking, liquidity farming, learn to earn programs, launchpad, launchpool, and startups.
no
yes
yes
yes
All countries except United States, Canada, Singapore, Seychelles, Cuba, Iran, Syria, North Korea, Crimea, and Sudan.
United States, Canada, Singapore, Seychelles, Cuba, Iran, Syria, North Korea, Crimea, and Sudan.
GET 30% Rebate - Get 30% rebate of your trading fees
Bitforex exchange review
Bitforex, founded in 2018, is a cryptocurrency exchange that offers its users a range of services including spot trading, derivatives trading, and OTC trading.
Currently it's possible to trade more than 500 cryptocurrencies on Bitforex.
In this Bitforex review we will take an in-depth look at Bitforex exchange, safety, ease of use, fees, trading options, customer support, user reviews, and more.
Bitforex exchange bonuses
Bitforex does currently not offer any welcome bonuses to new users.
Bitforex safety and regulation
Is Bitforex exchange safe to use?
When it comes to safety, Bitforex takes multiple measures to ensure the security of your funds and personal information. The exchange uses two-factor authentication methods to secure the accounts, has regular security audits, and sophisticated encryption mechanisms to protect data.
Despite these measures, there have been a few reports of hacking attempts, and users should always be vigilant with their account security.
Bitforex exchange licenses
Bitforex exchange operates under regulations enforced by the Seychelles' Financial Services Authority (FSA). While the Seychelles is not known for regulating cryptocurrency exchanges, they do have stringent requirements and regulations for companies like Bitforex operating under its jurisdiction.
As far as we know, Bitforex does not have any other licenses.
Bitforex exchange account security options
Bitforex offers account security through two-factor authentication, mobile SMS verification or email, Anti-phishing code, Google Authenticator, and hardware wallets.
Deposits & withdrawals on Bitforex platform
How to deposit money into Bitforex exchange?
Bitforex exchange supports multiple cryptocurrencies that users can deposit in their accounts using the exchange's wallet system.
So the main option of deposits is cryptocurrencies.
Additionally it is also possible to deposit using your credit card or bank account using third-party payment providers.
How to withdraw from Bitforex exchange?
To withdraw funds from Bitforex exchange, users must first complete KYC verification. Once verified, users can withdraw their funds to a supported wallet address. Withdrawal processing times may vary, depending on network congestion and other factors.
Bitforex exchange fees
Deposit fees
Bitforex exchange does not charge any deposit fees.
Withdrawal fees
Withdrawal fees on Bitforex vary depending on the type of cryptocurrency.
Trading fees
Base trading fees on Bitforex exchange are 0.1% for both Taker as well as Maker, but the fees can go down depending on your trading volume.
Trading on Bitforex exchange platform
Bitforex exchange offers users a range of trading options, including spot trading, derivatives trading, and OTC trading. The platform supports a wide range of cryptocurrencies and trading pairs, making it easy for users to take advantage of the latest market trends.
How high leverage does Bitforex exchange offer?
Bitforex exchange offers users the option of trading with high leverage of up to 100x. While high leverage can be beneficial in some situations, it can also result in significant losses.
Bitforex exchange KYC
Do you have to verify your account on Bitforex exchange?
No, it is possible to trade on Bitforex without IT verification as well. But for higher limits KYC is required.
How to verify your Bitforex exchange account?
To complete KYC verification on Bitforex exchange, users must submit ID documents, including a valid passport or government-issued ID, and proof of residence, usually in the form of a utility bill or bank statement.
Why and when should you verify your Bitforex account?
We recommend you go through the KYC process the moment you make your first deposit.
Bitforex exchange app
Bitforex exchange has a mobile app available for both iOS and Android devices. The app is user-friendly and has essential features, making it easy for users to access their accounts remotely and manage their trades.
Bitforex earn
Bitforex exchange has an earn feature that allows users to earn passive income through savings, staking, and crypto loans.
Bitforex customer support
Bitforex has a responsive customer support team that can be accessed via email, social media, and the exchange's Help Center.
Pros and cons of using Bitforex exchange
Pros | Cons |
|---|---|
Good selection of cryptos | No fiat |
Low fees | No KYC trading possible |
Account security options | Reports of hacking attempts in the past |
Limited deposit and withdrawal options |
Is Bitforex exchange simple to use?
Bitforex exchange has an intuitive user interface that makes it easy for both beginners and experienced traders to navigate the platform.
Which countries does Bitforex exchange accept people from?
Bitforex exchange is available to users worldwide, with the exception of residents from countries where cryptocurrency trading is banned.
Can people from USA, Canada, and Japan use Bitforex exchange?
No, residents of the USA, Canada, and Japan are not allowed to use Bitforex exchange due to regulatory restrictions.
What do players think about Bitforex exchange based on reviews and comments on other websites?
User reviews about Bitforex exchange on other sites are mixed, with some users praising the platform's simplicity as well as low trading fees while others criticize the exchange's reliability and bad customer support.
Final Thoughts
Bitforex offers a broad range of trading features for cryptocurrency traders. The exchange's low trading fees, high leverage options, and flexible security options make it a popular choice among cryptocurrency enthusiasts.
While there have been reported hacking attempts on the platform, Bitforex takes security measures seriously and is committed to ensuring its users' funds and personal information are secure.
However, it is important to note that the exchange is regulated by the Seychelles FSA, which may raise concerns for some users. There are also numerous bad reviews about he exchange, so we recommend you to do your own research, as always.
Top 3 Alternatives to Bitforex
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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.