Bibox is a new cryptocurrency exchange that has been making waves in the industry. This review will cover their services, fees, security, and more.
The Bibox Exchange Review 2019 is a review of Bibox, an exchange that has been around for over two years. The review includes the pros and cons of the platform, as well as some important things to consider before trading on it. Read more in detail here: is binance.us safe.
Bibox is a cryptocurrency exchange that is very new to the market. This exchange was established by the same people that brought you HuoBi and OKCoin, two of China’s most popular Bitcoin exchanges. As a result, you can be certain that Bibox is an exchange that will provide high-quality service to its customers.
Of course, there are already a plethora of exchange options. Why would someone choose Bibox when there are already Binance, Kraken, Gemini, and other options?
This is precisely the issue we’ll address throughout our Bibix review. We’ll see whether Bibox is a secure exchange, how it manages fees, what expenses you’ll face, and whether or not this is an exchange you want to use in the end.
Let’s get started learning more about Bibox if you’re ready.
Bibox, who are they?
The Bibox firm has two main business units, according to information collected during its ICO. The first is a cryptocurrency exchange located in Estonia, while the second is a platform based in Japan that converts digital currencies into fiat currencies.
Aside from who they are, there isn’t much known about the Bibox leadership team. Here’s what we know about the group thus far:
- Jason He is the company’s CEO.
- Wanlin Wang, Co-Founder and Overseas President
- Alicia Pan is the Marketing Director.
- Jian Qin, President of North America
- Estella Liu is in charge of business development.
Bibox is a decentralized bitcoin exchange that utilizes cutting-edge technology to handle more than 10 million customers at once, according to its creators. Bibox is a digital currency exchange worth looking into because of its sophisticated AI features.
Features of the Bibox
When it comes to excellent features, the Bibox exchange has a lot to offer. Here are a handful of the benefits you’ll get if you opt to utilize Bibox.
- Bibox provides a broad variety of trading alternatives as well as a large list of cryptocurrencies to its customers. Market and limit orders may also be created by traders. In addition, Bibox has simple costs for all users (which we’ll go over in a minute). When traders deal using the Bibox native token, BIX, they get a 50% reduction on all transaction costs.
- Bibox provides customer assistance in Korean, Vietnamese, Chinese, Russian, and English for individuals who speak those languages. In addition, the platform includes a customer support team that is available 24 hours a day, 7 days a week to assist users. Users may contact the staff by filing a ticket in the exchange’s help area. Bibox customer service may also be reached via Telegram, Facebook, and Twitter. For frequent inquiries or issues, the support area has a FAQ section. Bibox also offers a number of tutorials and walkthroughs to assist users in navigating the site.
- Bibox aspires to be the market’s most technologically sophisticated bitcoin exchange. The platform makes a solid case for itself because to its intelligent tools and AI capabilities. Bibox also has an API that enables it to be integrated with other trading platforms. The mobile app is available for Android and iOS, as well as a desktop client for Mac and PC.
- Users receive a trading platform that is straightforward and simple to use when they utilize Bibox. On the exchange, there are many tools and services that make buying, selling, and trading fast and simple. In-depth charts, trade history, sophisticated trading tools, and order books are among them. Advanced indicators and analysis are also available to more experienced traders.
Fees apply to all exchanges. It’s simply the way the beast is. Bibox, on the other hand, stands out by providing both a flat price and a percentage approach for charging fees. Because everyone is aware of how unpredictable the cryptocurrency market is, these fees may vary based on the coin’s and industry’s condition.
Bibox also has its own BIX coin, which allows customers to lower their costs. Consider it in the same vein as Binance. The exchange has its own token that offers customers a discount on transaction costs when they use it. The BIX token is an ERC20 token that runs on the Ethereum network. Using BIX provides a 50% trade discount, making it worthwhile to utilize while trading on the Bibox exchange.
Fees for Deposits
When it comes to deposit fees, the Bibox exchange does not have any. Many exchanges include this as part of their platform strategy since they want the money to be used for trading.
Fees for Withdrawals
Unfortunately, as is the case with many exchanges, withdrawing your bitcoin from the Bibox platform is not free. When you withdraw cryptocurrencies from Bibox, you’ll pay a fixed charge that varies depending on the digital coin you’re withdrawing. On the site’s price structure page, there is a full list of costs.
While this is a novel way of taxing withdrawals on crypto exchanges, it’s great to have Bibox’s openness so you know precisely how much you’ll pay.
Fees for trading
The trading fee is a normal price that all cryptocurrency exchanges will apply to your transaction. It is a percentage of the trade amount while trading on Bibox. Bibos now charges a 0.1 percent fee on all transactions made on its platform.
As a consequence, every transaction performed on Bibox, including margin trades, will incur a 0.1 percent fee on the asset. This is an automatic fee that you will incur if you continue to use the platform.
However, keep in mind that if you pay with BIX, you will get a 50% discount. That implies you’ll just have to pay 0.05 percent for each transaction. If you’re a high-volume trader, that’s a significant discount. This is undoubtedly one of the most prominent characteristics that distinguishes Bibox from its rivals.
Because Bibox lacks the cache and notoriety of exchanges like Binance and KuCoin, many people are curious whether it is a secure and genuine site to utilize. Given the increase of fraudulent exchanges that just want to take your money, this is a valid worry.
The good news is that anybody interested in utilizing Bibox may rest certain that it is a secure and legal trading platform. It certainly helps that it is among the top ten exchanges in terms of daily trading volume. Bibox has a big user base and an excellent development staff, all of which contribute to the site’s credibility.
Bibox keeps up to date on all regulatory regulations and security procedures, ensuring that you are dealing on a safe platform. Bibox also allows users to set up 2-factor authentication, which adds an extra degree of protection to their account.
Users may also create a unique password that is exclusively used for withdrawals. Even if your account is hacked – which is rare – the hacker won’t be able to access your money without that password, adding a third degree of protection to your account.
Setting up these extra security measures simply takes a few minutes, and Bibox strongly recommends it. If you don’t already have Google Authentication, you’ll need to download it, but it’s time well spent to guarantee that your money are protected.
Bibox: How to Get Started
- By reported trading volume, these are the top ten crypto exchanges.
- Get access to over 100 different cryptocurrencies.
- Fees are reduced by 50% when you use the BIX token.
- It is suitable for beginners.
Today is the best time to join the world’s fastest growing cryptocurrency exchange.
To begin utilizing the Bibox exchange, you must first create an account. Go to Bibox.com and then click the “Sign Up” button in the upper right corner.
On the next page, you’ll fill out a form that requests some basic information. After you’ve entered your your address and chosen a password, check your inbox for a verification email.
Once you’ve received your email, click the verification link to be sent to the Bibox login page. You’re now ready to begin trading. You may only trade the equivalent of 2 BTC each day until you prove your identity.
To verify your account, you’ll need a photo of your passport and a note with the date and the phrase “Bibox” written on it. Once you’ve done so, your daily limit will be raised to 20 BTC.
Making a Deposit
Only bitcoin may be deposited into the Bibox exchange, however the procedure is easy and clear. Go to the top right of the website and choose the ‘Funds’ option.
You may make a deposit using any of the cryptocurrencies presently accessible on the platform via the Funds page. You have almost 100 options to select from. Locate the coin you wish to use, click the “Deposit” option, and then transfer your cryptocurrency from your existing wallet to the Bibox exchange.
On Bibox, trading is as easy as choosing a market and then exchanging your currency using the buy and sell options. Iceberg orders, trigger orders, and margin trading are also available to users. Even if you have no prior experience with those kinds of transactions, the platform is simple to use.
A dropdown menu on the upper left allows you to choose the market you desire. After you’ve chosen your market, you’ll see a chart that will tell you all you need to know about it. Depending on your trading expertise, this may or may not be helpful to you.
You can pick whether to purchase or sell now that you have the appropriate market and all of the necessary analytical data. You’ll notice boxes at the bottom of the chart that enable you to buy or sell. Enter the desired amount, press the button, and wait for the order to be processed. That’s all there is to it.
Withdrawing money from Bibox works in a similar manner as depositing them. Go to the ‘Funds’ tab and search for the cryptocurrency you wish to withdraw. On the right-hand side, choose ‘Withdrawal.’
Enter your wallet’s address, the amount you wish to transfer, and a remark if you want to (it’s not necessary). When you’re happy with what you’ve written, click the ‘Submit’ button. Once the transaction is complete, your money should appear in your wallet.
Advantages and disadvantages
- Users from all around the globe may utilize the Bibox exchange.
- It’s simple to use, versatile, fluid, and intuitive.
- There isn’t much downtime.
- The platform is well designed.
- Trading is simple to comprehend and understand thanks to flat trading costs.
- Using the native platform BIX token allows customers to save money when trading by offering a 50% fee reduction.
- Platform is written in a language other than English, which may make it difficult to comprehend at times.
- They are based in China, which means they are bound by the laws and regulations of their own nation.
- Bibox does not accept any fiat money. Users may only trade in cryptocurrency, which means they must first swap their fiat currency for cryptocurrency elsewhere before transferring it to Bibox.
- There are minimum withdrawal amounts that must be met. This isn’t a big issue since many exchanges have a minimum, but it may be a hassle for individuals who don’t trade in large quantities.
Is it Worth It to Use Bibox?
Bibox is a stable and trustworthy bitcoin exchange. Bibox is a fantastic team that has the skills and experience required to create a superior platform, despite the fact that nothing is known about the people behind it. This is evident in Bibox’s efforts to set itself apart from other cryptocurrency services.
Bibox isn’t entirely unique in the crypto exchange industry, but it does attempt to provide services that aren’t seen elsewhere. Using its BIX currency, for example, lowers trading costs by 50%, and customers who keep BIX may receive weekly payments as long as they make one transaction each week.
These and other characteristics make Bibox a worthwhile exchange to use. It provides a user-friendly platform that is suitable for both beginner and expert users. Bibox is easily slipping into the top 5 cryptocurrency exchanges as it develops and learns more about what its customers desire.
Visit TotalCrypto.io for more information.
1) What If Bibox Isn’t For You? Learn more about Huobi and why altcoin investors are flocking to the exchange.
2) Is Bibox a Pain in the Neck? If you’re from Europe, you’re in luck since eToro is the easiest way to deposit and trade major cryptocurrencies.
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DISCLAIMER: The activity of the cryptoassets discussed in this paper is uncontrolled. This post is not intended to provide financial advice. Always do independent research.
- Available all around the world
- Taking a Break
- Outstanding Platform Design
- Trading Fees are Fixed
- There is no support for fiat currencies.
- It is based in China.
- Withdrawal to a Minimum
Frequently Asked Questions
What exchanges are better than Binance?
Binance is a good exchange, but there are many other exchanges that are better.
Is Bibox a good exchange?
The Bibox exchange is a good exchange.
Is there a better app than Binance?
We recommend that you use Binance.
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