Here’s a quick look at the standout features we discovered while writing this BingX review:
- Established reputation: Founded in 2018, BingX quickly rose to prominence, serving 5 million users across 100+ regions.
- Versatile trading options: Beyond standard spot trading, BingX stands out with offerings like derivatives, copy trading, and grid trading.
- Robust security protocols: BingX’s zero-incident track record is bolstered by industry-leading safety features, rigorous regulatory approvals, and partnerships with security giants.
- Innovative features: The platform’s signature copy trading system, extensive cryptocurrency and fiat list, and the perpetual swap feature position it as a forerunner in crypto innovation.
- User-friendly design: A meticulously crafted interface ensures that even crypto novices find BingX’s platform intuitive and easy to navigate.
- Transparent fee structure: Clarity in fee schedules for spot trading, futures, and withdrawals makes financial planning straightforward for traders.
- Accessible support: Round-the-clock live chat, email support, and a comprehensive help center ensure users always find the assistance they need.
What Is BingX?
BingX, or Bigbon exchange, established in 2018, stands as a forefront player in the crypto exchange world. Catering to over 5 million users across 100+ global regions, the platform offers a comprehensive suite of services, including spot, derivatives, copy trading, and grid trading.
Its ethos revolves around trust, transparency, and pioneering innovation, epitomizing a platform that not only turns users into expert traders but also ensures utmost safety. When thinking about BingX, envision a robust digital financial hub committed to the evolving needs of the crypto landscape.
How to Open an Account at BingX
- Head to the BingX official site.
- Hit “Sign Up” in the upper right corner of the homepage.
- Input your email or phone number for account creation.
- Web: After logging in, hover over your profile icon. Click on [Account and Security], then head to [Security Center].
- App: Post login, tap your profile image (top left), then choose [Security Center]. Set up your password.
- On the BingX platform, navigate to your profile image.
- Web: Select [Account and Security].
- App: Go to [Security Center].
- Initiate the Google Authenticator link via the “Link” option and follow the instructions.
- If you possess digital assets elsewhere, you can transfer them to BingX.
- For depositing, use the specific “address.” Discover your BingX deposit address by selecting [Deposit], picking a currency, and copying the revealed BingX deposit address. Initiate the transfer with this address.
- Launch your crypto trading journey with BingX Spot that offers a vast crypto assortment, including Bitcoin (BTC).
- BingX offers both standard contract and perpetual swap. For beginners, the standard contract is advisable, whereas experienced traders might find perpetual swap more fitting.
Is BingX Safe?
Since its foundation, the exchange has successfully navigated various market storms without a single case of crypto theft. Its key safety features include:
- Robust regulatory framework: BingX isn’t just a name but a globally recognized trademark of the BingX Group. It operates with clear regulatory approval across multiple regions:
- BINGX CA LIMITED is recognized by Canada’s FINTRAC for both FX and virtual currency dealings.
- In the US, BINGX US LIMITED is a registered MSB under FinCEN with FX activity approval.
- Within the EU, BINGX EU UAB is an accredited digital currency exchange in Lithuania.
- For the Australian market, BINGX GLOBAL PTY LTD is a registered DCE provider under AUSTRAC.
- Rigorous risk management: After conducting a Bing X review, we learned that it employs Sumsub’s 2FA verification, a sophisticated AI-driven KYC tool, to fend off potential threats. This robust measure even extends to all employee devices and communications.
- Bank-grade protection: BingX uses top-tier custody solutions verified by industry giants like CertiK and SlowMist. This robust protection allows BingX to handle billions in daily transactions while deflecting millions of daily cyber threats.
- Full reserves: The platform assures that customer funds are 100% backed by reserve assets. Its POR utilizes the Merkle tree technique. As of the last update, the reserve ratios for major assets like BTC, ETH, USDT, and USDC all exceeded 100%.
- Insurance backing: Unpredictable risks? Don’t worry. BingX’s insurance fund mechanism ensures smooth contract transactions and offers coverage against unforeseen pitfalls.
- Collective vigilance: Teaming up with SlowMist in 2020, BingX has broadened its security horizon. It has even incentivized users to join the security watch through the “Security Breach and Threat Intelligence Bounty Program,” rewarding those who spot potential vulnerabilities.
What Are BingX Features?
At the heart of BingX lies a rich suite of offerings: from an unrivaled copy trading experience to a user-friendly platform tailored for both novices and experts. Let’s take a look.
Expansive Cryptocurrency Portfolio
BingX boasts a selection of over 600 global cryptocurrencies, ensuring traders have access to a broad range of investment opportunities.
Industry-Leading Copy Trading
What sets BingX apart is its unparalleled copy trading system. With rich analytics and insights on top copy traders, it’s more than just a feature; it’s BingX’s hallmark, offering users an informed investment edge.
Perpetual Swap: A Game Changer for Traders
For the experienced trader, BingX’s perpetual swap eliminates traditional trading interruptions. This feature ensures continuous trading, even during contract deliveries, making missed market movements a thing of the past.
Wide Fiat Support via Trusted Platforms
Backed by platforms like Banxa, BingX.com ensures traders can transact in over 100 fiat currencies, from the common USD and EUR to more niche options.
BingX provides a unique feature for new traders: the VST currency, specifically designed for demo trading. Upon account creation, users receive a starting balance of 100,000 VST, equivalent to one dollar. This virtual currency allows users to try out all contract types available on BingX without any real financial risk.
User-Centric Interface for All
BingX has crafted an interface that’s both intuitive and comprehensive. Whether you’re just starting out or you’re a seasoned trader, navigating the platform is a breeze.
What Are BingX Fees?
For Spot trading, most pairs like BTC/USDT, ETH/USDT, and BNB/USDT share a consistent fee of 0.1% for both makers and takers, which isn’t among the lowest fees we’ve seen. There are exceptions such as SHIB/USDT, which offers a reduced maker fee of 0.05%, and certain pairs like ACA/USDT and ACM/USDT, which slightly vary with 0.16%–0.17% fees.
For traders venturing into perpetual futures, they’re looking at a maker fee of 0.0200% and a taker fee of 0.0500%. If standard futures is your choice, there’s a flat rate of 0.0450%.
When it comes to depositing funds, BingX keeps it simple with no deposit fees. However, always ensure to meet the minimum deposit criteria to avoid any hiccups.
Withdrawals, on the other hand, come with a fee determined by the specific blockchain network. For instance, while USDT deposits on networks like Ethereum (ERC20) and BNB Smart Chain (BEP20) are free, the withdrawal fees differ based on the network’s conditions.
BingX Customer Support - Which Options Does It Offer?
BingX crypto exchange offers direct email support for detailed queries. If you’re looking for quick responses, its 24/7 live chat is always at your service, available in multiple languages. For those who encounter issues, the ticket support system ensures organized follow-up. And if you’d rather troubleshoot on your own, BingX’s on-site help center is a treasure trove of information.
Customer Reviews - What Do Customers Say About BingX?
BingX reviews on TrustPilot are mixed, giving a combined 2.9 out of 5 rating from 210 contributors. While comments stating that it’s a rigged platform raise eyebrows, others consider BingX an “innovative crypto exchange,” showcasing the platform’s diverse user impressions.
Final Thoughts: Is BingX Worth It?
In the ever-changing digital marketplace, BingX has certainly carved a niche for itself. From its vast crypto portfolio to its innovative features like copy trading and perpetual swaps, the platform offers a holistic trading experience. While feedback varies, no platform is without its critics. The key lies in personal experience.
If BingX aligns with your trading needs and preferences, it could be a valuable addition to your crypto ventures. For more insights on how BingX stacks against its contemporaries, check out our list of top crypto exchanges.
Is BingX available in the USA?
Certain trading services can be provided to eligible US and Canadian users based on the respective MSB regulations. For more information, contact BingX online support.
What country is BingX from?
BingX is based in Singapore.
Is BingX exchange legit?
According to our research for this BingX review, it’s a legitimate crypto exchange with a robust security framework and established reputation.