Looking for a crypto exchange or want to learn more about how the crypto exchange works? Here we bring you detailed Bibox exchange review. How does it work? Is this exchange good for you? if yes, then how?
We will answer all your questions in our deep extensive review of the platform.
Quick Navigation :
- What is Bibox
- Features of Bibox
- How to Trade?
- Bibox Fees and Security
- Latest Updates and Announcements
- Latest News
What is Bibox?
Bibox crypto exchange came into existence in 2017, in China. The exchange is said to be founded by employees of companies such as Binance, OKCoin, and Huobi (top cryptocurrency exchanges in China). This is one of the reasons to trust this exchange, because of such quality minds behind the platform.
Despite only starting in 2017, Bibox has been very popular and is already generating an outstanding amount of trading volume. With a 24 hrs volume of $415,178,863, It ranks 15th in Coimarketcap. Currently, the exchanges have built operating centers in the U.S., Canada, Switzerland, Singapore, South Korea, Japan, Estonia, and more countries and regions to serve its users more.
Similar to Binance, Bibox has its own token that will help you to get 50% discount on trading provided you’re paying them in BIX, the token was first launched on ICO in October 2017 and is an ERC20 based token on the Ethereum network.
Features of Bibox
Robust Security : The platform uses microservices splitting design and AI to provide smart token and trading management.
Multiple Coins & Trading Pairs : Bibox Supports more than 90+ high-quality coins and 200+ various trading pairs.
Customer Support : The support team is available 24/7 for service with multilingual support to solve your inquiries instantly.
Exchange platform : The platform is very easy to use and has been designed beautifully. User have choice to view basic or full screen exchange mode along with many advanced technical analysis tools.
How to Trade?
After logging in successfully, click “Funds”, select ‘master account’. Choose the coin you wish to deposit and click on “Deposit”. After this, click “copy address” and paste it in your coin’s wallet. Please check all the details carefully. Once you successfully made a deposit, a confirmation email will be sent to your email address.
After a successful login. click “Funds”, select ‘master account’. Choose the coin you wish to deposit and click on “Withdrawal”. Select the token you want to withdraw, click “Withdrawal”. Enter the address, remark and withdrawal amounts and click “Submit”.
Click “Exchange-Basic” to enter transaction page. select your desired currency pair, for example, if you want to exchange ETH into BIX, select BIX/ETH. Enter the amount and price, Then click “buy” or “sell” to submit an order.
Market prices are displayed on the left side which people are offering. In the center there is a chart, users can use the tools at the top of the chart to change the time period, show Moving Averages, Bollinger Bands and so on.
Bibox Fees and Security
The deposit fee is zero. The withdrawal fee is different for different currencies. The trading fee of 0.1% is deducted from users. But if you pay using BIX(Bibox own token), you may get a 50% discount and furthermore, for coming years the discount will change accordingly.
For more fees related info click here .
Bixbox provides advanced multi-level security to the users. The platform offers google two face authentication(2FA), SMS authentication and Fund password.
The team do not give out more detail regarding their storage practices but claims to store the majority of user funds offline in cold storage wallets. So far, Bibox has successfully protected itself from any hacks.
Overall, Bibox is a great cryptocurrency exchange, run and developed by intellectual minds, who have experience in trading and continuously updates themselves with the feedback of traders.Bu
The team is looking forward to growing its market share by enhancing features with AI-based data algorithms. Moreover, the platform offers C2C trading, Bonds and margin trading. Still, fiat trading is not available in this platform.
In our opinion, Bibox is pretty good exchange for beginners as well as experienced traders and in future could be in top 5 spots in exchange usage.
Latest updates and announcements
- Feb 14, 2019 : Bibox Has Completed The Initial BTT Airdrop
- Feb 14, 2019 : ONT And ONG Deposit And Withdrawal Function Resumed
- Feb 18, 2019 : World Leading Crypto Exchange Bibox Launches Perpetual Contract Trading with No Funding Rate.
- Feb Feb 17, 2019 : Bibox Token (BIX) Trading 1% Lower Over Last 7 Days.
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