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BingX Review – Is BingX.com Legit? (Detailed BingX Exchange Review)

Read our bingx.com review to know everything about BingX. In this BingX review, you will get to know whether this exchange is scam or legit.

Jay Hicks

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BingX crypto exchange review

Introduction

BingX logo

BingX.com cryptocurrency exchange, based in Singapore, was introduced in 2018. Upgraded from Bingbon, it has become a significant crypto derivative market player. With a user base exceeding 1 million globally, BingX exchange offers a blend of services, including spot and derivatives trading, emphasizing user-centric features

BingX interface

BingX Supported Cryptocurrencies

The selection of cryptocurrencies on the BingX crypto exchange is varied. It includes assets such as Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Ripple (XRP), Dogecoin (DOGE), and emerging ChainLink and Pancakeswap. This wide range serves not only beginner traders but also professionals who can look into different markets and investment possibilities.

Fee Structure of BingX.com

With regards to fees, the Bingx trading platform is an industry leader. The charging rate for takers in continuous futures trading is 0.05%, while the reduced fee of makers is only 0.

Also Read: Coinstore Crypto Exchange Review 2023 – Is Coinstore.com Safe and Legit?

These rates are lower than the global average, which makes BingX.com a temptation for budget-minded traders. It is also important to mention that the fees depend on your trading volume.

Features of BingX Exchange

BingX.com crypto exchange provides all the features that a cryptocurrency trader needs. Their affiliate program is very generous, as users can earn up to 60% of the trading fees that their referrals generate without any limit on time for collecting commissions. This is perfect for those looking to create passive income.

BingX features

BingX exchange also has a Crypto Social Trading Network, allowing traders to engage and follow strategies and copy trades from thought leaders. If you are interested in leveraged trading, BingX provides up to 100x leverage and it is important to take caution because of the risk involved. They also offer mobile apps for iPhone and Android users, making it easy to manage portfolios.

Trading view of BingX Crypto Exchange

Every transaction has a trading view and BingX.com is not exempted. It enables users to analyze price charts, place orders, and review their trade history on the trading view.

BingX trading view

Although it does not provide special features, a comprehensive and easy-to-navigate trading view is vital in any crypto exchange platform.

Deposit and Withdrawal over BingX Trading Platform

Unlike fiat deposits, a cryptocurrency deposit has to be made before any trading can commence on BingX. On the other hand, the BingX trading platform provides an alternative to people who do not have crypto holdings – users can open an account on a platform that allows fiat deposits and buy cryptos there before moving it into BingX. This provides a flexible environment for acquiring digital assets.

Security and Privacy of BingX Exchange

BingX.com crypto exchange is security-oriented. They use full-chain SSL encryption to safeguard user data and store digital assets in cold storage wallets requiring several withdrawal codes. Furthermore, they have an insurance trust fund in case of theft loss.

BingX security

The trading exchange also provides Two-Factor Authentication (2FA), through which users can set a fund code and secondary password that shall be used during deposits, withdrawals, and trades. BingX exchange has also been tested for security vulnerabilities by different organizations such as SlowMist and it offers a bug bounty program to incentivize users who report bugs.

Customer Support Services

Users receive support through the 24/7 live chat option available on BingX. This timely and responsive customer service is necessary to quickly address any problems or questions, which enhances a positive user experience.

Pros and Cons of BingX

Pros

  • Low competitive trading fees.
  • Lucrative unlimited-time affiliate program.
  • Learning and copying trades based on Crypto Social Trading Network.
  • Mobile app for easy trading on the move.
  • Emphasis on security and user privacy.
  • Responsive 24/7 customer support.

Cons

  • Few crypto options in comparison to other exchanges.
  • Trading fees may vary depending on the trading volume.
  • Each withdrawal is charged based on a particular cryptocurrency.
  • High-leverage trading involves high risk.
  • Not available for US investors.

Concluding Remarks

BingX.com crypto exchange provides a robust cryptocurrency trading platform with various assets, competitive fees, and innovative features such as Crypto Social Trading Network and an attractive affiliate program. Though it has certain cons, including a lack of US investors’ support and a smaller number than some exchange cryptocurrencies, Smart options is still one of the strongest competitors in the field.

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