About BitForex Exchange
BitForex is a Hong Kong-based cryptocurrency centralized exchange (CEX) founded in 2017. The exchange provides users with a safe, professional, and convenient transaction experience. The company is leading the trend of the digital asset industry by effectively providing a wide range of tools including Spot Trading, Perpetual Futures, Turbo Starter, Financial service, and more. BitForex will constantly adapt to new market needs with the continuous introduction of new features.
As of January 2023, over 300 projects are being offered at BitForex, serving over 6 million users with a worldwide presence in over 200 countries and regions. The independent operating teams are located in Germany, South Korea, Singapore, Russia, and more.
How To Sign Up & Start Trading
| Exchange | Details |
|---|---|
| Exchange Name | BitForex Exchange |
| Exchange Type | Cryptocurrency |
| Withdraw Fee | 0.0005 BTC |
| Support | 24/7 |
| Langugae | English |
| Taker Fee | 0.10% |
| Maker Fee | 0.10% |
| Website | Homepage |
How To Sign Up & Start Trading
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
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.
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.
Trading Fees BitForex Exchange
Every trade occurs between two parties: the maker, whose order exists on the order book prior to the trade, and the taker, who places the order that matches (or “takes”) the maker’s order. It is common that exchanges charges makers less, as a way to incentivize orders that create liquidity in the market.
BitForex charges flat spot trading fees. Both takers and makers pay 0.10% per order. When it comes to contracts trading, BitForex charges the takers 0.06% and the makers 0.04%.
According to the most extensive empirical study performed to date on average spot trading fees and average contracts trading fees, it was concluded that the global average spot trading fees were 0.2294% for takers and 0.1854% for makers. With respect to contract trading, averages were 0.0618% for takers and 0.02597% for makers. BitForex’s fees are substantially below average when it comes to spot trading, and for contract trading they are below average for takers but above average for makers.
BitForex Withdrawal fees
BitForex charges a withdrawal fee amounting to 0.0005 BTC when you withdraw BTC. This is quite in line with the global industry average. The global industry average is 0.0004599 BTC per BTC-withdrawal according to the abovementioned report.
Deposit Methods
At this exchange, you can deposit funds or cryptos in most ways you can prefer. Wire transfer, credit cards, cryptos from other exchanges, it all works. This also makes this exchange an “entry-level exchange” which is necessary for any new crypto investor.
BitForex Exchange Features
Trading
Bitcoin, Ethereum, Litecoin, and other cryptocurrencies are supported for trade on the BitForex Exchange. The platform also provides a selection of trading pairs that let users exchange one cryptocurrency for another.
Security
BitForex Exchange takes customer funds and data security extremely seriously and has put in place a variety of safeguards. Two-factor authentication (2FA), cold storage for customer funds, and recurring security audits are some of these safeguards.
User-friendly interface
The platform has been created with a user-friendly, intuitive, and simple to use interface in mind. As a result, it is simpler for new customers to begin trading on the site.
Low fees
BitForex Exchange offers some of the most affordable fees in the market, which attracts traders looking to cut costs.
Margin Trading
Trading on margin with up to 10x leverage is possible with BitForex for some cryptocurrencies.
OTC Trading
BitForex provides over-the-counter (OTC) trading so that customers can purchase or sell a lot of cryptocurrencies without having an impact on the price.
API support
For developers who want to link their trading bots or other tools with the platform, BitForex Exchange offers API support.
Mobile App
Mobile AppBitForex offers a mobile app that enables customers to trade while on the go.
Global Reach
BitForex Exchange is a genuinely global platform since it is accessible in more than 180 nations.
BitForex conclusion
Users of the cryptocurrency exchange BitForex can buy, sell, and trade a number of different digital assets. Its headquarters are in Singapore, and it was established in 2018. BitForex has a user-friendly platform that supports both spot and margin trading and provides a large selection of trading pairs.
Before investing in any digital asset, customers should do their own research and due diligence, just as with any cryptocurrency exchange. Users should also think about the dangers of trading cryptocurrencies, such as the chance of extreme volatility and the loss of one’s entire investment.
It’s also vital to remember that BitForex has already drawn criticism and controversy, including claims of wash trading and fabricated trading volumes. Users should carefully weigh all available information before deciding to invest in BitForex or any other cryptocurrency exchange, as they should with any investment.
BitForex FAQ
What is BitForex?
BitForex is a cryptocurrency exchange that allows users to buy, sell, and trade a variety of digital assets.
When was BitForex founded?
BitForex was founded in 2018.
Where is BitForex headquartered?
BitForex is headquartered in Singapore.
Is BitForex safe to use?
As with any cryptocurrency exchange, there are risks associated with using BitForex. It is important for users to conduct their own research and due diligence before investing in any digital asset. Users should also consider the risks associated with cryptocurrency trading, including the potential for high volatility and the possibility of losing their entire investment.
What are the fees for using BitForex?
BitForex charges a variety of fees for using its platform, including trading fees, withdrawal fees, and deposit fees. Users should consult BitForex’s fee schedule for more information.
What types of trading does BitForex support?
BitForex supports both spot and margin trading.
