Hey everyone! Today we shed light on the trending crypto exchange BingX launched in 2018 and it’s features.
If you are new or a professional trader, BingX has advanced features which ensure that your trading experience is top-notch.
From copy trading, and derivatives, to spot trading, and even modern asset management tools, there is something for everyone.
With a base of over 10 million users globally, BingX is known for its security, user management, and advanced tools. Let’s see some of the reasons why this exchange could be suitable for your crypto journey!
Introduction
BingX was started in 2018 and within a few years, it has become one of the leading cryptocurrency exchanges in the world with over 10 million users. The platform offers a wide range of products and services like spot trading, derivatives, asset management, copy trading, and more, which cater to beginner and experienced traders alike.
BingX is focused on maintaining a safe environment with modern devices and features which facilitate the development of trading abilities. In 2024, the platform became the official main partner of Chelsea FC, marking its first step into the sports industry.
Know Quick Details About BingX
| Feature | Details |
|---|---|
| Trading Pairs | Offers a wide range of crypto-to-crypto and crypto-to-fiat pairs. |
| Trading Fees | Competitive fees with a tiered structure, starting from 0.10% for spot trading. |
| Mobile App | Available for iOS and Android, offering a seamless trading experience. |
| Security | Utilizes two-factor authentication (2FA) and advanced encryption for data protection. |
| Leverage | Offers up to 50x leverage on some trading pairs. |
| Staking | Provides staking opportunities for various tokens to earn passive rewards. |
| Customer Support | 24/7 live chat support and comprehensive FAQs. |
| Advanced Trading Tools | Features charts, technical analysis tools, and a demo trading mode. |
| API Access | Available for automated trading and third-party integrations. |
| Languages Supported | Supports multiple languages including English, Chinese, and more. |
Some Popular Token Available On This Exchange
| Token Symbol | Token Name | Category | Key Use Case | Blockchain |
|---|---|---|---|---|
| BTC | Bitcoin | Cryptocurrency | Digital currency for decentralized transactions | Bitcoin |
| ETH | Ethereum | Cryptocurrency | Smart contract platform and decentralized applications | Ethereum |
| XRP | XRP | Cryptocurrency | Fast, low-cost cross-border payments | XRP Ledger |
| ADA | Cardano | Cryptocurrency | Decentralized platform for building dApps and smart contracts | Cardano |
| DOGE | Dogecoin | Meme Coin | Peer-to-peer cryptocurrency, often used for tipping | Dogecoin Blockchain |
| DOT | Polkadot | Blockchain Network | Interoperability between blockchains | Polkadot |
| LTC | Litecoin | Cryptocurrency | Peer-to-peer payments and faster alternative to Bitcoin | Litecoin |
| SOL | Solana | Cryptocurrency | High-speed decentralized applications and smart contracts | Solana |
Trading Fees on BingX
BingX’s fees in regard to trading of cryptocurrency are quite competitive as well, with crypto conversion and exchange fees of 0.05% to 0.2%.
For instance, these rates are more advantageous than those offered at the already established marketplaces Binance, Coinbase, and KuCoin.
As shown in the table below, BingX is also amongst the more affordable exchange in the crypto market compared to most other popular exchanges.
How to Start Trading on BingX
Sign Up
Visit the BingX website and create an account by providing your email and creating a password.
Verify Your Identity
Complete the KYC (Know Your Customer) verification process by submitting the required documents.
Deposit Funds
Go to the “Deposit” section and link your bank account or use other available deposit methods to fund your account.
Explore the Trading Interface
Familiarize yourself with BingX’s trading interface and explore different trading options.
Place Your First Trade
Navigate to the trading section, select the cryptocurrency pair you want to trade, and place your order.
Monitor Your Trades
Keep an eye on your investments and market trends using BingX’s tools and features.
Withdraw Funds
When you’re ready to withdraw your earnings, go to the “Withdraw” section and transfer your funds to your bank account or another wallet.
BingX Services and Features
Spot and Futures Trading
BingX offers an easy-to-use spot and futures trading platform for both short-term and long-term investors. Its low fees and ample liquidity allow traders to execute orders for a variety of cryptocurrencies in an effective way.
Copy Trading
Busy traders and novices will find BingX’s copy trading option most beneficial. This tool allows one to copy successful traders with the goal of providing returns while becoming familiar with the intricacies of market strategies.
High Leverage Trading
Moreover, selected pairs allow these traders to enjoy high-leverage trading. Some pairs could reach one hundred and fifty times. This feature is most advantageous to sophisticated users seeking to maximize their returns.
Staking andEarning Passive Income
Users can acquire rewards by staking supported cryptocurrencies directly on the platform. This feature is ideal for those wanting to passively grow their assets while backing blockchain networks.
Demo Trading Account
New traders no longer have to worry as BingX has thrown in starter demo trading accounts that allow for strategy hunting and market understanding without monetary risk. This is an excellent way to build confidence in trading.
Mobile App for On the Go Trading
The mobile app version of the platform, which now has downloads on Android and IOS, has all the features of the web page with a more user-friendly interface.
User-Friendly Advanced Charting and Analysis Tools
BingX offers enables its users to achieve well-rounded technical analysis with features such as charting with different styles, multiple indicators, and automatic trading through API connectivity.
Ultra-Safe Security Features
BingX prioritizes security by offering its users cold wallet storage, advanced encryption as well as two-factor authentication 2FA to guarantee protection for sensitive data.
At Any Time, Always Available Customer Support
To ensure users receive necessary support to their questions, the platform offers support via email, live chat and comprehensive FAQ section.
Tutorials And Market Insights
BingX provides tutorials, webinars and other resources to help crypto traders improve their skills and remain updated with any current changes.
BingX Security
BingX prioritizes safeguarding users’ assets which is why tons of resources are spent ensuring the platform’s security. By employing strict security standards alongside partnerships with other companies, it is no surprise that the exchange has had an impeccable record of never losing any crypto or wallets to theft.
Risk Management: To strengthen the risk management protocol further, BingX uses Sumsub’s 2FA verification in conjunction with AI detection technologies.
Bank Custody: The exchange uses a Bank level custody solution, in addition to getting scrutinized by highly regarded firms like Certik and SlowMist, as well as deploying experts to counter millions of daily attack traffic.
Insurance Fund: This fund strategy secures normal transactions and reimburses for unanticipated losses.
Construction of Strategic Partnership: Enhancement of security throughout the cryptocurrency industry alongside research, threat intelligence, and anti-laundering tactics is the goal of the partnership with SlowMist. Furthermore, BingX aids enhancement through encouraging user participation in security measures with bounty programs.
Here’s a table showing the supported countries and banned countries for BingX :
| Supported Countries | Banned Countries |
|---|---|
| ✅ United States (limited services) | ❌ North Korea |
| ✅ United Kingdom | ❌ Iran |
| ✅ Canada | ❌ Cuba |
| ✅ Australia | ❌ Syria |
| ✅ Germany | ❌ Crimea |
| ✅ India | ❌ Sudan |
| ✅ South Korea | ❌ Afghanistan |
| ✅ Japan | ❌ Belarus |
| ✅ Singapore | ❌ Mainland China |
| ✅ Brazil | ❌ Venezuela |
BingX PROS & CONS
| ✅ Pros | ❌ Cons |
|---|---|
| ✅ Offers competitive trading fees ranging from 0.05% to 0.2%. | ❌ Restricted access in some countries and states due to regulations. |
| ✅ Provides copy trading features for beginners to follow expert strategies. | ❌ Limited support for lesser-known or emerging cryptocurrencies. |
| ✅ Includes a user-friendly mobile app for trading on the go. | ❌ High leverage can increase risk for inexperienced traders. |
| ✅ Offers a demo trading feature for risk-free practice. | ❌ Advanced tools may have a learning curve for beginners. |
| ✅ Strong security measures with 2FA and cold wallet storage. | ❌ Withdrawal fees might be higher for specific assets compared to other exchanges. |
Is BingX Secure?
Indeed, the platform provides a secure environment for trading cryptocurrencies on BingX. The exchange has put in place security features like two factor authentication (2FA) , encryption, and cold wallets which aids in preserving user information and funds.
Also, BingX’s regulatory obligations across various regions adds to its credibility. Although, no platform is risk free, users can feel relatively secure while using BingX given its numerous security features and operational transparency.
BingX Customer Support
BingX has put in place a number of customer support features to ensure that users are assisted on any problem they may face.
The platform provides 24/7 live chat support so that users can have their queries answered in the shortest time possible.
Besides that, BingX has incorporated a dedicated help center that addresses the most frequently asked questions and provides guides and troubleshooting tips.
Email support is also provided for other intricate issues and Timely assistance is the goal of the support team. Although support is fast for the most part, some users report slower response times and support availability during peak periods.
Conclusion
To conclusion, BingX is a trustworthy and safe cryptocurrency exchange that possesses a wide angle of things to offer such as copy trading, derivatives and spot trading as well as asset management.
Due to its simple to use design alongside complicated trading features, it serves both novice and veteran traders.
Its security, regulatory adherence, and collaboration with Chelsea FC in 2024, however, strengthens its reputation further. Nonetheless, users should take caution regarding the regional limitations and charges, which could be different. In general, BingX continues to be a viable option for cryptocurrency traders.
