Bingx

Introduction to BingX

BingX is a cryptocurrency exchange platform that offers spot cryptocurrency trading, derivatives, and social cryptocurrency trading. According to BuiltWith, the platform actively uses 29 technologies for its website, including SPF, Google Font API, and Content Delivery Network. BingX’s main headquarters is located in Singapore, Central Region, with branches in several countries such as Taiwan, South Korea, Japan, Vietnam, India, Indonesia, and North America. BingX holds four operating licenses from regions like the EU, the USA, Canada, and Oceania, serving over 2 million customers in more than 100 countries and regions worldwide.

History of BingX

• BingX was established in 2018 under the name Bingbon, and on November 18, 2021, Bingbon was renamed to BingX.
• In October 2019, BingX launched the Copy Trading feature.
• In 2021, BingX initiated the “Bingbon Carbon-Free and Afforestation Project”, investing in land purchases for tree planting.
• In December 2021, BingX introduced the “Social Feed” feature.
• In 2022, BingX announced a partnership with Sumsub and introduced Spot Grid Copy Trading.

Awards and Rankings

According to CoinMarketCap, BingX ranks in the top 10 of Derivative Exchanges. In January 2022, BingX was awarded the “Best Cryptocurrency Broker/Exchange of 2021” by the TradingView Broker Awards.

Global Presence: BingX boasts over 5 million global users, supports over 600+ listed cryptocurrencies, and operates in over 100 countries and regions.

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BingX Pros & Cons

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The transaction fee for Bingx

Network	Maker	Taker
Spot	0.05% – 0.2%	0.05% – 0.2%
Perpetual Futures	0.0200%	0.0500%
Standard Futures	0.0450%	0.0450%
Deposit & Withdraw	Free	Free

For a comprehensive list of transaction fees, please visit: https://support.bingx.com/hc/en-001/articles/360027240173?ch=guibest The page provides detailed information on withdrawal fees, standard futures trading, perpetual futures trading, as well as spot conversions and transactions. The cryptocurrency exchange rate at BingX is 0.2%.

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Top BingX Features

Spot Trading

• This feature allows users to trade popular digital assets in real-time.
• Transactions can be completed within minutes, offering a swift trading experience.
• Users can access spot trading directly from their browsers via the BingX website, making it convenient and accessible.
• The primary goal of spot trading is to buy or sell cryptocurrencies instantly to gain profits.

Conversion

• Described by BingX as the “easiest way to trade,” this feature supports popular cryptocurrencies like BTC, ETH, and USDC.
• Users can convert their digital assets into USDT through a specific link on the BingX platform.

Standard and Perpetual Futures Contracts

• BingX offers derivative trading, accessible via a dedicated link.
• Users can trade both standard futures contracts and perpetual futures contracts.
• Perpetual futures are more suitable for experienced traders, while standard futures are relatively easier to manage.

Grid Trading

• A new feature on BingX, Grid Trading involves an automated trading bot that operates 24/7 to capture any occurring profits.
• The platform boasts about 90,000 users, and with this feature, users can set up spot or futures contracts grids.
• Grid Trading exemplifies BingX’s prowess as a social trading platform.

Copy Trading

• With BingX’s copy trading, users can replicate the trades of successful and proven traders.
• There’s a variety of traders to copy from, ranging from trending traders to more conservative ones.
• Users can choose from futures contract traders and spot grid traders. Successful traders can also register to become copyable traders.

Rewards for New Users

• BingX offers exclusive rewards for new traders on the platform.
• New users can receive a “New User Reward” of 125USDT for free.
• Other incentives include a 60% APY, risk-free earning rewards, deposit bonuses, trading gifts, and other bonuses. A comprehensive list of rewards for new users is available on a specific BingX link.

Copy News Feed

• This feature provides a news feed that allows users to access the latest trends from influential individuals and top traders.
• It’s part of BingX’s social trading network and operates like a 24/7 live news feed, similar to what one might find with more traditional brokers.

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Trading and Investment Tools

• Spot Trading Tools: These tools allow users to buy or sell cryptocurrencies instantly at current market prices. Features might include real-time price charts, order books, and technical indicators.
• Futures Trading Tools: These are designed for users who want to trade futures contracts. Tools might include leverage settings, margin calculators, and risk management features.
• Grid Trading Tools: Grid trading involves setting up a series of buy and sell orders at predefined intervals. Tools for this strategy might include grid setup assistants, profit calculators, and automation settings.
• Copy Trading Tools: These tools allow users to automatically replicate the trades of experienced traders. Features might include a leaderboard of top traders, performance analytics, and customization options for how trades are copied.
• Technical Analysis Tools: These are essential for traders who base their decisions on technical analysis. Tools might include various chart types, technical indicators (like Moving Averages, RSI, MACD), and drawing tools.
• Fundamental Analysis Tools: For those who base their trading decisions on the intrinsic value of assets, tools might include news feeds, economic calendars, and sentiment analysis.
• Portfolio Management Tools: These tools help users track their assets, evaluate their portfolio’s performance, and make informed decisions. Features might include portfolio breakdowns, historical performance charts, and risk assessments.
• Security and Wallet Tools: Given the importance of security in crypto trading, platforms often provide tools for secure storage, withdrawal, and deposit of assets. This might include multi-signature wallets, withdrawal whitelists, and two-factor authentication settings.
• Educational Tools: Many platforms offer educational resources to help both novice and experienced traders. This might include tutorials, webinars, articles, and even demo trading accounts.
• Social Trading Tools: These tools allow users to engage with a community of traders, share insights, discuss strategies, and even follow or be followed by other traders.

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Security and Compliance

Global Operations: BingX is not just a digital exchange platform; it positions itself as a global digital financial service organization. This means that it adheres to international standards of operation, security, and compliance. Its global footprint, with branch offices in Canada, the EU, and Australia, underscores its commitment to cater to a diverse user base while adhering to the regulatory standards of these regions.

Robust Identity Verification: In the age of digital fraud, identity verification is paramount. BingX has implemented stringent identity verification processes to ensure that every user on their platform is genuine. This not only helps in preventing fraudulent activities but also ensures that the platform remains compliant with anti-money laundering (AML) and know your customer (KYC) regulations.

Partnership with Sumsub: Sumsub is known for its expertise in identity verification and compliance. By partnering with Sumsub, BingX ensures that its identity verification processes are top-notch and in line with the latest industry standards. This partnership also signifies BingX’s commitment to maintaining a secure and compliant trading environment for its users.

Advanced AI Technology: Cybercrimes are evolving, and traditional methods of security might not always catch sophisticated attacks. BingX employs advanced artificial intelligence (AI) technology that continuously monitors the platform for any suspicious activities. This AI-driven approach allows for the automatic detection of cybercrime-related risks, ensuring that potential threats are identified and mitigated in real-time.

Commitment to Compliance: Operating in multiple countries means adhering to the regulatory standards of each of those countries. BingX’s commitment to compliance ensures that users can trust the platform, knowing that it operates within the legal frameworks of its operating regions.

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Reliability and transparency

• 100% Proof of Reserves: This means that BingX maintains full reserves of customer funds. In the cryptocurrency world, “proof of reserves” is a process by which a company can prove that it holds the full amount of cryptocurrency it claims, ensuring that they can cover all customer balances. This is a significant trust factor, especially in an industry that has seen exchanges go under due to lack of funds.
• Partnership with Top Cybersecurity Organizations: By partnering with leading cybersecurity organizations, BingX ensures that its systems and processes are up-to-date with the latest security standards. These partnerships also mean that BingX undergoes regular security checks and updates to protect user funds and data.
• Security Audits by CertiK: CertiK is a leading security platform known for its rigorous auditing processes. An approval from CertiK indicates that BingX’s systems have been thoroughly checked for vulnerabilities and are deemed secure. Regular audits ensure that the platform remains secure over time and adapts to new threats.

In essence, BingX’s commitment to transparency and security is evident in its efforts to maintain full reserves, its partnerships with top cybersecurity firms, and its regular security audits by trusted organizations like CertiK. These measures are crucial in building trust with users and ensuring that their funds and data are safe.

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User Experience at BingX

• User-Friendly Interface: BingX places a strong emphasis on creating a platform that’s intuitive and easy to navigate. A user-friendly interface ensures that both new and experienced users can easily find their way around the platform, making trades, deposits, and withdrawals with ease.
• Guidance on Cryptocurrency Purchases: For newcomers to the cryptocurrency world, buying crypto can be a daunting task. BingX offers step-by-step guidance on how to purchase cryptocurrencies, ensuring that users can make informed decisions and understand the process.
• Introduction to Copy Trading: Copy trading is a feature where users can replicate the trading strategies of experienced traders. BingX provides guidance on how to start with copy trading, allowing users to potentially benefit from the expertise of seasoned traders.

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Deposits and Withdrawals

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Support and Assistance at Bingx

• Dedicated Support Team: BingX likely has a team of professionals dedicated to assisting users. This team would be trained to handle a variety of issues, from technical glitches to user queries about trading.
• Multiple Channels of Communication: Platforms like BingX often offer multiple channels for users to reach out, such as live chat, email support, phone support, and even community forums.

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Trading Platforms

• BingX Web
• BingX App
• API Integration

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Registration and Benefits Guide

Registering a BingX Account:

1. Visit the official BingX website: First, you need to access the official BingX website.
2. Select ‘Register’ or ‘Sign Up’: Locate and click on the registration button on the main page.
3. Enter basic information: Provide your email address and create a strong password.
4. Verify the received email: A confirmation email will be sent to your email address. Click on the link within the email to verify your address.
5. Complete personal details: Fill in essential details such as your full name, date of birth, and country of residence.

Setting Up Security for Your Account:

1. Log in to your BingX account.
2. Access the ‘Settings’ or ‘Setup’ section.
3. Select ‘Security’ or ‘Protection’.
4. Activate ‘Two-Factor Authentication’ (2FA): This typically involves using apps like Google Authenticator or SMS. Once activated, you will need to enter a code from the app or SMS each time you log in.
5. Update your password: Ensure your password is strong and unique. Avoid using passwords you’ve used elsewhere.
6. Whitelist IP addresses and wallet addresses: If you know from where you’ll access BingX and which wallet addresses you’ll withdraw to, add them to a whitelist for enhanced security.
7. Check login activity: Occasionally, platforms allow you to view your login history. This helps you detect any suspicious activities.
8. Log out of unrecognized sessions: If you notice that your account is accessed from an unfamiliar device or location, immediately log out of that session.