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A trading cryptocurrency guide must provide reviews of all of the top crypto exchanges out there so that you can find the best cryptocurrency exchange site for you. This review of Bexplus consists of four parts: general information, fees, deposit methods, and security.
Bexplus is a global crypto derivatives trading platform established in late 2017. The company is registered in Saint Vincent and the Grenadines. Bexplus has offices in Singapore, Japan, the US, and Brazil and is constantly expanding worldwide.
United Kingdom is the country that has the most cryptocurrency exchanges in the world.
To our knowledge, US-investors may trade here. They currently have US MSB supervision. MSB Registration Number: 31000185428247.
Most people do their trading on desktop. However, there are also a fair share of people out there that prefer to do their cryptocurrency investments via mobile. If you’re one of those people, you’ll be happy to know that Bexplus is also available as a mobile application. You can download it from both the AppStore and Google Play.
Bexplus offers 100x leveraged trading on its trading platform. This means that you can receive a higher exposure towards a certain cryptocurrency’s price increase or decrease, without having the assets necessary. You do this by “leveraging” your trade, which in simple terms essentially means that you borrow from the exchange to bet more.
For instance, let’s say that you have 10,000 USD on your trading account and bet 100 USD on BTC going long (i.e., increasing in value). You do so with 100x leverage. If BTC then increases in value with 10%, if you had only bet 100 USD, you would have earned 10 USD. As you bet 100 USD with 100x leverage, you have instead earned an additional 1,000 USD (990 USD more than if you had not leveraged your deal).
On the other hand, if BTC decreases in value with 10%, you have lost 1,000 USD (990 USD more than if you had not leveraged your deal). So, as you might imagine, the balance between risk and reward in leveraged deals is quite fine-tuned (there are no risk free profits).
Bexplus gives 10 free BTC for every registered user to do the demo trading.
There are currently only a few exchanges that provide simulated transactions, thus it is quite friendly for novices, you can try out different strategies as much as you like.
1.Risk free – Without costing any real funds, you are able to test your strategies under a risk-free circumstance, and form your own trading style.
2.Experience – If you are a crypto beginner, it is the best way for you to get familiar with the market by practicing opening and closing positions, applying stops and limits. In addition, you can view margin requirements as well as track the profit and loss. If you are an advanced crypto trader, you can accumulate technical analysis and methods by trading different pairs and try different portfolios in the simulator, which can strengthen your fundamental skills.
3.Notes taking – By taking notes and analyzing your trading performances, you can correct the mistakes and form your trading strategies before starting with real money.
4.Emotion training – With long-term demo trading, you can observe yourself during the process, and figure out what kind of investor you are and adjust yourself, which is helpful to build up a stable mood and attitude towards the real market
To conclude, practicing in a trading simulator is actually a training of emotion management and experience accumulation
Bexplus Trading View
Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you. The below is a picture of the trading view at Bexplus:
Bexplus Trading fees
Many exchanges charge what we call taker fees, from the takers, and what we call maker fees, from the makers. Takers are the people removing liquidity from the order book by accepting already placed orders. Makers are the ones placing those orders. The main alternative to this is to simply charge “flat” fees. Flat fees mean that the exchange charges the taker and the maker the same fee.
This exchange offers a flat fee of 0.075% per trade. The majority of exchanges offering derivatives trading actually charge 0.075% in taker fees.Bexplus also charges 0.075% per trade in maker fees as well. However, its transaction fee is much lower than the average transaction fee (0.25%) of the global crypto exchanges. If you care about that, Bexplus is your nice option.
Bexplus Withdrawal fees
This trading platform charges a withdrawal fee amounting to 0.0005 BTC when you withdraw BTC. This is substantially below the industry average, as the industry average is 0.000812 BTC per BTC-withdrawal. This exchange’s withdrawal fees are thus roughly 40% lower than the industry average.
All in all, the fees at Bexplus are good.
There is NO KYC at Bexplus, which means they don’t collect any of your personal information. Regrading the deposit, Bexplus only accepts BTC deposit and withdrawal.
Usually, exchanges that accept credit cards or wire transfers need to charge a certain fee. But Bexplus only accepts BTC deposit, it does not charge any deposit fees. It requires you to purchase BTC elsewhere before deposit.
Protection against DDoS attacks and encrypted with SSL, multisignature technology, 2FA to secure users’ account and assets.
All in all, they are a good choice if you are a newbie. Since they have a user-friendly trading simulator and all the fees are lower than the industry average.
If you are interested in their advantages, you can click to register and get 100% deposit bonus