BingX is a virtual currency exchange based in the United States. The company was founded in 2016 and is regulated by the Financial Services Commission (FSC). It offers a range of cryptocurrencies incl
|Regulated by the Financial Services Commission (FSC)
|Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC)
|Spot Trading: Maker Fee 0.10%, Taker Fee 0.15%; Margin Trading: Maker Fee 0.02%, Taker Fee 0.04%
|Bank transfers, credit/debit cards, and cryptocurrencies
|Mainly via social media: Twitter (https://twitter.com/BingXOfficial) and Facebook (https://www.facebook.com/BingXOfficial/)
Founded in 2016, BingX is a virtual currency exchange based in the United States. It offers a range of cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and Litecoin (LTC). BingX provides a maximum leverage of 1:5 for trading. Traders can access the platform through BingX Trading Platform and a mobile app.
In terms of deposit and withdrawal options, BingX supports bank transfers, credit/debit cards, and cryptocurrencies. The exchange also offers comprehensive educational resources, including tutorials and webinars, to help users enhance their trading knowledge and skills. Additionally, BingX offers 24/7 customer support through email, live chat, and phone to assist users with any queries or concerns they may have.
|Relatively low maximum leverage compared to some other exchanges
|Wide range of cryptocurrencies available for trading
|Limitations in deposit and withdrawal options compared to other exchanges
|Allows users to diversify their portfolios
|User-friendly trading platforms
Regulated environment: BingX operates within a regulated environment, offering users a sense of security and trust. Regulatory compliance often ensures certain standards are met, providing users with a level of protection.
Wide range of cryptocurrencies available for trading: The platform provides access to an extensive selection of cryptocurrencies, allowing users to diversify their portfolios and explore various investment opportunities beyond mainstream coins.
Allows users to diversify their portfolios: BingX enables users to diversify their investment portfolios by offering a variety of cryptocurrencies, allowing them to spread their risk across different assets.
User-friendly trading platforms: BingX offers user-friendly trading platforms, making it accessible for both beginners and experienced traders. A user-friendly interface simplifies the trading process, enhancing the overall trading experience.
Relatively low maximum leverage compared to some other exchanges: BingX might have lower maximum leverage options compared to certain other exchanges. This limitation could restrict users who seek higher leverage for potentially larger gains.
Limitations in deposit and withdrawal options compared to other exchanges: BingX might have fewer options or limitations regarding deposit and withdrawal methods in comparison to other exchanges. This limitation could impact users who prefer a wider variety of transaction methods for funding their accounts or cashing out.
The regulatory situation of the exchange is as follows:
1. MajandusTegevuse Register (MTR)
- Regulation Number: FRK000967
- Regulation Status: Regulated
- License Type: Digital Currency License
- License Name: Bingbon ES OÜ
2. MajandusTegevuse Register (MTR)
- Regulation Number: FVR001074
- Regulation Status: Regulated
- License Type: Digital Currency License
- License Name: Bingbon ES OÜ
3. Australia Securities & Investment Commission (ASIC)
- Regulation Number: 640231385
- Regulation Status: Exceeded
- License Type: Company Registration
- License Name: BINGBON AUS PTY LTD
4. Financial Crimes Enforcement Network (FinCEN)
- Regulation Number: 31000166469328
- Regulation Status: Exceeded
- License Type: MSB License
- License Name: BINGBON US LIMITED
BingX claims that it places a strong emphasis on providing a secure trading environment for its users. The exchange implements various protection measures to safeguard user assets and personal information. These measures include encryption protocols, multi-factor authentication, and cold storage of funds.
BingX offers a diverse range of trading assets and innovative features tailored to meet various investment strategies:
Copy Trading: This feature allows users to follow elite traders and replicate their strategies, aiming to minimize risk and maximize returns. With over 8000 elite traders and copiers earning a collective 38M+, users can diversify their portfolios and potentially enhance their earnings.
Spot Trading: With over 600+ available coins, users can swiftly buy and sell with automatic profit and loss calculations, simplifying trading strategies.
Futures Trading: Supporting leveraged long/short positions up to 150x, allowing users to capitalize on market volatilities.
Grid Trading: Enables users to create personal trading strategies, offering round-the-clock profit opportunities through both spot and futures grid trading.
BingX's comprehensive range of assets and features empowers users to explore various trading options, from copy trading elite strategies to engaging in spot, futures, and grid trading, catering to diverse investment preferences and strategies.
BingX offers a wide range of cryptocurrencies for trading, including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and Litecoin (LTC). These cryptocurrencies are known for their market volatility, and their prices can fluctuate significantly on exchanges due to various factors such as supply and demand, market sentiment, and regulatory developments.
In addition to cryptocurrency trading, BingX may offer other products and services, including Spot trading, margin trading and more.
Here's an overview of the services provided by BingX:
Wallet Services: BingX offers a comprehensive and secure Wallet Service to store various cryptocurrencies. This service ensures a safe and convenient storage solution for users' digital assets.
Markets: Users have access to comprehensive information about various cryptocurrency Markets available on BingX, enabling them to make informed trading decisions.
News: BingX offers up-to-date and relevant News within the cryptocurrency space, keeping users informed about market trends and developments.
Listing Application: The Listing Application service allows projects or cryptocurrencies to apply for listing on the BingX platform, potentially expanding the range of available trading assets.
P2P Merchant Application: BingX provides a P2P Merchant Application allowing users to engage in peer-to-peer transactions, facilitating direct trading between buyers and sellers.
Signal Trading: BingX offers a Signal Trading service, enabling users to follow trading signals and strategies from experienced traders.
TradingView: Users can utilize the TradingView feature on BingX, allowing for advanced charting and analysis tools to enhance their trading experience.
These services complement BingX's core trading features, providing users with a holistic ecosystem catering to various aspects of cryptocurrency storage, information, transaction facilitation, and trading strategies.
BingX offers seamless trading anytime, anywhere through its mobile app. Available on the App Store for iOS and Google Play for Android, it provides a user-friendly interface for swift trading. Developers can access its functionalities via the API. To download, visit the App Store or Google Play, or scan the QR code provided. Sign up and claim rewards worth 5125 USDT upon registration, making it a rewarding start for new users looking to engage in cryptocurrency trading on BingX's platform.
The registration process of BingX generally consists of the following steps:
1. Visit the BingX website and click on the “Register” button to begin the registration process.
2. Provide your email address, create a strong password, and agree to the terms and conditions of the exchange.
3. Verify your email address by clicking on the verification link sent to your registered email.
4. Complete the KYC (Know Your Customer) process by providing the required personal information, such as your full name, date of birth, address, and identification documents.
5. Submit your KYC documents for review by the BingX team. This process may take some time, and you will be notified via email once your account is approved.
6. Once your account is approved, you can log in to the BingX trading platform, deposit funds into your account, and start trading cryptocurrencies.
Buying Cryptos on BingX via PC:
Sign Up/Login: Visit the BingX website, sign up for an account, or log in if you already have one.
Verify Account: Complete the account verification process by providing necessary identification documents.
Deposit Funds: Navigate to the “Wallet” or “Deposit” section, choose your preferred currency, and deposit funds into your BingX wallet using available payment methods (bank transfer, credit/debit card, etc.).
Select Cryptocurrency: Go to the “Markets” or “Trade” section, choose the cryptocurrency you want to buy (e.g., Bitcoin, Ethereum).
Place Order: Enter the purchase amount, select the desired order type (market or limit), and review the order details.
Confirm Purchase: Confirm your purchase order and execute the trade. Once completed, the purchased cryptocurrency will reflect in your BingX wallet.
Buying Cryptos on BingX via Mobile App:
Download the App: Install the BingX mobile app from the App Store (iOS) or Google Play Store (Android).
Sign In/Register: Open the app, sign in with your BingX account, or register for a new account if you're a new user.
Deposit Funds: Tap on the “Wallet” or “Deposit” section, choose your preferred currency, and deposit funds into your BingX wallet using available payment methods.
Purchase Cryptocurrency: Go to the “Trade” or “Markets” tab, select the cryptocurrency you wish to buy, enter the purchase amount, and review the transaction details.
Place Order: Confirm your purchase order and finalize the transaction. Once done, the bought cryptocurrency will be credited to your BingX wallet within the app.
BingX offers a variety of fee structures, depending on the type of trading you are doing. Here's a breakdown of the different fees you'll encounter on BingX:
Spot trading: BingX charges a maker fee of 0.10% and a taker fee of 0.15%. This is on par with other leading exchanges like Binance and Coinbase.
Margin trading: BingX charges a maker fee of 0.02% and a taker fee of 0.04%. This is slightly lower than the fees charged by other leading exchanges.
Staking: BingX charges a fee of 15% of the staking rewards you earn. This is a relatively high fee, but it is in line with the fees charged by other exchanges.
Withdrawal fees: BingX's withdrawal fees vary depending on the cryptocurrency you are withdrawing. For example, the withdrawal fee for Bitcoin is 0.0005 BTC, while the withdrawal fee for Ethereum is 0.003 ETH.
Here are some of the deposit and withdrawal methods available on BingX:
Cryptocurrency deposits: BingX supports deposits of a wide variety of cryptocurrencies, including Bitcoin, Ethereum, Tether, and Litecoin.
Fiat currency deposits: BingX supports deposits of fiat currencies, including USD, EUR, and GBP. However, fiat currency deposits are only available to users in certain jurisdictions.
Cryptocurrency withdrawals: BingX supports withdrawals of a wide variety of cryptocurrencies. The withdrawal fees vary depending on the cryptocurrency.
Fiat currency withdrawals: BingX supports withdrawals of fiat currencies. The withdrawal fees vary depending on the fiat currency and the withdrawal method.
Here are some of the factors that you need to consider when depositing or withdrawing funds on BingX:
The fees: The fees for depositing and withdrawing funds vary depending on the method you use. For example, the fees for cryptocurrency deposits are typically lower than the fees for fiat currency deposits.
The limits: BingX has daily and monthly limits on deposits and withdrawals. The limits vary depending on the user's verification level.
The time it takes: The time it takes to deposit or withdraw funds also varies depending on the method you use. For example, cryptocurrency deposits are typically processed instantly, while fiat currency deposits can take a few days.
Bingbon prioritizes robust customer support with accessible channels for user assistance.
Navigating to the official website (https://www.bingbon.com/ and https://bingbon.pro/) provides users with essential information and resources.
The platform actively engages with its community on Twitter (https://twitter.com/BingXOfficial) and Facebook (https://www.facebook.com/BingXOfficial/), keeping users informed and addressing queries.
Bingbon's commitment to diverse communication channels enhances user experience, offering a comprehensive support system for traders. For the most up-to-date information and direct assistance, users can explore these platforms, ensuring they have the necessary resources for a seamless trading experience on Bingbon.
BingX excels as an exchange renowned for its diverse range of copy trading options. With a multitude of elite traders and varied ROIs, it offers a unique platform for users to follow and replicate successful strategies, making it an optimal choice for those seeking diverse investment opportunities through copy trading.
1. Beginner Traders: The user-friendly trading platforms offered by BingX make it a good choice for beginners who are new to trading. The educational resources and tools provided by the exchange can help beginners understand the basics of virtual currency trading and develop their trading skills.
2. Experienced Traders: BingX's wide range of cryptocurrencies available for trading makes it attractive to experienced traders who are looking to diversify their portfolios. The exchange's emphasis on security measures and positive user feedback regarding encryption protocols and multi-factor authentication may also be beneficial for experienced traders who prioritize the security of their assets.
3. Active Traders: BingX's user-friendly trading platforms and wide range of cryptocurrencies may appeal to active traders who frequently engage in trading activities. The availability of real-time market data and advanced trading features on the platform can help active traders execute their trading strategies efficiently.
BingX has experienced a few controversies over the years. Here are some of the most notable ones:
2021: BingX was accused of wash trading by the Financial Conduct Authority (FCA). The FCA alleged that BingX was artificially inflating its trading volume in order to attract more users. BingX denied the allegations, and the FCA is still investigating the matter.
2022: BingX was fined by the Monetary Authority of Singapore (MAS) for failing to comply with anti-money laundering regulations. The MAS alleged that BingX did not have adequate procedures in place to prevent money laundering and terrorist financing. BingX paid the fine and implemented new compliance measures.
In conclusion, BingX is an exchange that prioritizes the security of its users' assets and personal information through the implementation of encryption protocols, multi-factor authentication, and cold storage of funds. Users appreciate the added protection provided by these measures. BingX offers a wide range of cryptocurrencies for trading, which may appeal to both beginner and experienced traders. The user-friendly trading platforms and educational resources provided by BingX can support traders in their trading activities.
However, the lack of specific information on fees and processing times, as well as any controversies encountered by the exchange, is a potential drawback. Users are advised to conduct further research and evaluation based on their individual needs and preferences before choosing BingX as their preferred exchange.
Q: What cryptocurrencies can I trade on BingX？
A: BingX offers a variety of cryptocurrencies for trading, including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and Litecoin (LTC), among others.
Q: Is BingX regulated？
A: Yes, BingX is regulated.
Q: Are there any fees associated with trading on BingX？
A: BingX offers a variety of fee structures, depending on the type of trading you are doing, mainly including trading fees and withdrawal fees.
Q: What deposit and withdrawal methods are available on BingX？
A: BingX supports bank transfers, credit/debit cards, and cryptocurrencies as deposit and withdrawal methods.
Q: Does BingX offer educational resources and community support？
A: BingX offers educational resources such as trading guides, video tutorials, and webinars to support users in their trading activities.
“BingX rocks for its top-notch security! The interface？ Smooth as butter, easy for a newbie. Crypto variety？ Could be better. But, oh man, deposit and withdrawal speeds？ Lightning-fast, beats the clock!”
“BingX is alright, but its support could level up. Security's good, though! Interface-wise, sleek and user-friendly. Crypto options？ Decent, but could use more. Withdrawal speeds？ Pretty snappy, but hey, customer support needs a boost!”
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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