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Friday, April 19, 2024

Bingx Exchange Review: Bingx Is Legit & Secure Exchange

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About Bingx Exchange

Founded in 2018, BingX is a global digital asset, spot, and derivatives trading platform that provides a user-centric and open ecosystem with intuitive social trading features. Created to enrich the entire cryptocurrency industry, BingX is a safe, reliable, and user-friendly venue for users to trade their favorite assets.

How To Sign Up & Start Trading

ExchangeDetails
Exchange NameBingx Exchange
Exchange TypeCryptocurrency
Withdraw Fee20 USDT
Support24/7
LangugaeEnglish
Minimum Deposit1 USDT/ 0.01ETH/ 0.0002BTC
Transaction Fee0.075%
WebsiteHomepage

How To Sign Up & Start Trading

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You Sign Up For A User Account By Providing Basic Information.

On Every Exchange You Will Get Option For Sign Up Or Create Account . Just Fill Some Basic Details Like Name , Email , Password , Security Question Etc For Registration . It Is First Step To Start Trading On Any Exchange

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You Then Receive An E-mail In Your Mailbox To Activate Your Account.

Before You Can Login, You Must Active Your Account With The Code Sent To Your Email Address.Then You Will See A Message That Your Financial Account Is Activated And Ready To Go. This Means That You Can Log In And Start Trading In Cryptocurrency.

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Identity Verification

For Successful Verification You Will Need Identity Documents. For Example, You Can Use A Driver’s License Or Passport, Where The Name Is Duplicated In Latin Letters.Confirmation Of Identity On Exchange Is An Optional Step. The Procedure Must Be Completed Only If You Want To Remove The Restrictions Of Btc On Deposit Or Withdrawal Of Funds Per Day.

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Trading Fees

BingX derivatives exchange charges the same trading fee of 0.075% for both opening and closing a position. The calculation of the transaction fee is simple. The trading fee is calculated by multiplying the trading fee of 0.075% with the trade volume. The trade fee is relatively competitive compared to other cryptocurrency exchanges.

TYPESPREAD RANGES
Cryptocurrency – Bitcoin0.02% ~ 0.1%
Cryptocurrencies other than Bitcoin0.02% ~ 0.2%
Global Indices0.02% ~ 0.15%
Commodities0.02% ~ 0.1%
Forex0.02% ~ 0.1%

In addition to trading fees, the exchange offers a spread fee. This fee varies based on the type of contract trading. For example, the spread fee on BTC ranges from 0.02% to 0.1%, and this may increase to 0.2% for other crypto trading pairs. However, check the below table to know the list of supported cryptocurrencies for deposit with their minimum amount of deposit:-

NO.CRYPTOCURRENCIESMINIMUM DEPOSIT AMOUNTSUPPORTED NETWORK
1USDT1 USDTERC20, TRC20, OMNI
2USDC1 USDTERC20
3BTC0.0002 BTCBTC
4ETH0.01 ETHERC20

Withdrawal Fees

BingXg charges a small withdrawal fee for withdrawing ETH and BTC, about 0.007ETH and 0.0005BTC, respectively. To withdraw Stable coins, the withdrawal fee charged is $28 per transaction. This is relatively high compared to the global industry average. So check the below table to know the withdrawal fees taken by BingX:-

NO.CRYPTOCURRENCIESWITHDRAWAL FEE
1USDT-ERC2020 USDT
2USDT-TRC201 USDT
3USDT-OMNI28 USDT
4USDC20 USDC
5BTC0.0005 BTC
6ETH0.007 ETH
7XRP0.25 XRP

Deposit Fees

The best thing about BingX is that it does not charge any fee to deposit crypto in trading accounts. However, a fee may be applied if you transfer fiat to crypto based on the deposit method and the selected 3rd-party provider of the user’s region. To know the full fee structure it is highly recommended to check out the details on its official site.

BingX Exchange Features

Trading pairs

Cryptocurrency exchanges typically offer trading pairs, allowing users to exchange one cryptocurrency for another.

User-friendly interface

An easy-to-use interface is essential to ensure that users can easily navigate the platform and complete transactions without difficulty.

Security

Exchanges should offer strong security features such as two-factor authentication, encryption, and anti-phishing measures to protect users’ funds and data.

Liquidity

A high level of liquidity ensures that users can easily buy or sell cryptocurrencies at a fair price.

Low fees

Cryptocurrency exchanges may charge transaction fees for buying and selling cryptocurrencies. Look for exchanges with low fees to maximize your profits.

Customer support

Good customer support is important to ensure that users can get help with any issues they may encounter on the platform.

Mobile app

Many exchanges offer mobile apps to allow users to trade cryptocurrencies on the go.

Conclusion

To conclude this BingX review, it is essential to note that this exchange is a promising and compelling cryptocurrency exchange for users searching for the leading crypto-powered leverage platform. It was established for both beginners and experienced traders and comes under the list of top crypto exchanges. It is bundled with some of the best factors, including a wide variety of crypto derivatives products, copy trading, and demo trading features.

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Disclaimer

Crypto investments come with high risk and you should always exercise caution when investing in any crypto asset. Investing in crypto carries a high level of risk, and may not be suitable for all investors. Any investment decisions made by you are made at your own risk and we are not responsible for any losses that may occur. Before investing, we recommend you consult a financial advisor to understand the risks and rewards associated with investing in crypto.

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