| ⭐Features | Details |
| ⭐Exchange Name | BitForex |
| ⭐Founded in | 2018 |
| ⭐Registered in | Seychelles |
| ⭐Cryoptocurrencies | 160+ |
| ⭐Trading Fees | 0.05% to 0.1% |
| ⭐24-hour trading volume | $7B |
| ⭐Payment Method | Bank Transfer, Mastercard, VISA |
What is BitForex？
BitForex, a globally recognized cryptocurrency exchange headquartered in Singapore and registered in Seychelles, has a professional international team operating across multiple regions and serves users from over 86 countries. It offers secure, professional, and convenient trading services with a wide array of trading tools like spot, margin, and derivatives trading. Listing over 163 major cryptocurrencies and more than 300 trading pairs, it enables users to trade various virtual assets. Security is a top priority, with 98% of funds in multi - sign offline cold wallets and only 0.5% in hot wallets for easy withdrawals, along with multi - factor authentication and insurance coverage. Its trading system, equipped with a high - performance matching engine processing 1,600,000 orders per second, offers a user - friendly experience on web and mobile apps. Overall, BitForex is a top - tier choice for cryptocurrency enthusiasts globally due to its advanced features, high - level security, and diverse services.
Pros and Cons
| Pros | Cons |
| Low fees | Not regulated exchange |
| High liquidity | Slow customer support |
| User-friendly mobile app | Lack of transparency |
| Supports over 160 coins | |
| Leverage up to 100x |
Security
- Cold storage: The majority of BitForex's cryptocurrency holdings are stored in cold storage, which means they are offline and not connected to the internet. This makes them much less vulnerable to hacking attacks.
- Multi-factor authentication (MFA): All users are required to enable MFA, which requires them to enter a code from their phone in addition to their password when logging in. This adds an extra layer of security to prevent unauthorized access to accounts.
- Secure API: BitForex's API is secured with TLS 1.2 and uses HMAC authentication to prevent unauthorized access.
BitForex APP
BitForex provides a mobile application allowing users to trade various cryptocurrencies on the go from their mobile devices. BitForex APP features a user-friendly interface, real-time market updates, and a wide range of trading tools. Users can monitor their portfolio, make trades, and manage their accounts from anywhere at any time, offering convenience for those who do not always have access to their computers.
The BitForex APP is available for both Android and iOS devices. For Android users, it can be downloaded through the Google Play Store, while iPhone or iPad users can download it from the Apple App Store. This makes it highly accessible for users, regardless of the type of device they use.
How to Buy Cryptos？
To buy cryptocurrency online:
- Coin Selection:Choose the specific type of cryptocurrency you wish to purchase.
- Payment Channels and Methods:Select your preferred payment channels and methods.
- Specify Amount:Identify the amount of cryptocurrency you want to buy.
- Confirmation:
After checking all the details, click the “Confirm” button to finalize your transaction.
To buy crypto with a bank card on BitForex, you can follow these steps:
- Filling Out Details and Choosing Crypto: Input accurate payment details, followed by submitting your order. Choose your desired cryptocurrency and provide necessary order details.
- Making Payment: Employ your regular currency to finalize the payment for your order on your chosen platform.
- Payment Confirmation and Transfer: As soon as the payment is validated, the purchased crypto will be directly transferred into your BitForex account.
Trading Fees
BitForex charges trading fees based on different tiers linked to a trader's 30-day BTC trading volume. For those in LV1 (less than 10 BTC trading volume), both maker and taker fees are 0.1%. Meanwhile, the LV2 tier (with 1000 to 21000 BTC trading volume) incurs maker and taker fees of 0.08% and 0.2% respectively. Additionally, Market Makers fall under a fee structure of 0.1% for both takers and makers within a trading volume of 1000 to 21000 BTC.
| Tier | Spot Trading Assets (=BTC) | 30-day Trading Volume (=BTC) | Maker Fee | Taker Fee |
| LV1 | 650 | <10 | 0.10% | 0.10% |
| LV2 | 802 | 1000 | 0 | 0 |
| Market Maker | M100 | 21000 | 0 | 0 |
Deposit and Withdrawal
BitForex doesn't apply fees for depositing funds, and withdrawal fees for digital currencies depend on network expenses. The exchange imposes a withdrawal fee of 0.0005 BTC, which is lower than the worldwide industry average. Withdrawal restrictions apply to various cryptocurrencies; as an example, Bitcoin has a maximum daily limit of 100 BTC. Additionally, activating a withdrawal request requires setting up two-factor or SMS authentication. You have the option to fund your BitForex wallet using a bank account or credit card.
Is BitForex a Good Exchange for You？
BitForex is the best exchange when considering liquidity. The platform boasts high liquidity that ensures users can quickly buy and sell their chosen cryptocurrencies at reasonable market prices. This significant level of liquidity minimizes the risk of price slippage and results in a seamless and efficient trading experience, hence making BitForex an optimal choice for traders emphasizing liquidity as a priority.
BitForex may be a good exchange for traders in the following types:
- Traders who want to explore more trading features.
- Traders who want to earn rewards through staking coins.
- Traders who want to experience margin trading with 100x leverage.
Compare with Other Exchanegs
| Features | ||||
| Trading Fees | 0.05% to 0.1% | Maker: 0.04%, Taker: 0.075% | Maker: 0.05% - 0.1%, Taker: 0.1% - 0.5% | Up to 0.40% maker fee and up to 0.60% for taker fee |
| Cryptocurrencies | 500+ | 11 | 200+ | |
| Regulation | Not regulated | Regulated by NMLS, MAS/FinCEN (Exceeded) | Regulated by FSA ( Japan), NMLS, CSSF, DFI, NYSDFS | Regulated by NMLS , FCA, NYSDFS, SEC (Exceeded), FINTRAC (Exceeded) |