There are pros
- Trade Fees Low
- Intelligent Interface
- High Security
- Wide Range Of Supported Coins
- Advanced Products and Services
- No Fiat Currencies
- Negative Reviews
- Drawbacks: What are the Issues?
Undoubtedly, cryptocurrency traders are faced with the problem of selecting an exchange from the overwhelming number available.
CoinStats reviews the top platforms such as Binance, Coinbase or Kraken, and small, reliable platforms such as the Bibox exchange. They also present their drawbacks and advantages.
Bibox offers a platform to exchange cryptocurrency and earn crypto. Bibox is a decentralized cryptocurrency exchange platform for trading cryptocurrencies and earning on crypto. It integrates with various AI-based modules to offer users Decentralized Financial (DeFi) services. The platform boasts impressive liquidity pools and advanced trading features.
Bibox was founded in Singapore in 2017, and recently opened Bibox Europe.
Our Bibox exchange review will take you through one of the most popular decentralized crypto exchanges, discuss the Bibox platform’s services and products, pros and cons, trading fees, security, etc., and demonstrate how to start trading on the platform to maximize profits.
Bibox: What’s it all about?
Bibox is a Singapore-based crypto exchange that was founded by seasoned entrepreneurs, professionals traders and investors. Bibox currently has branches in the USA, Canada, Japan, Estonia and Switzerland. It has also announced that it will open Bibox Europe.
Bibox, the first AI-enhanced cryptocurrency exchange platform reports a daily average trade volume of $200,000,000. However, there are times when Bibox trading volumes aren’t backed with actual liquidity, raising accusations of the platform’s wash trading in the crypto world.
Bibox offers support for over 90 cryptocurrency assets as well as 200 trading pairs. Bibox supports major cryptocurrencies like BTC, ETH and USDT. It also allows its users to trade a range of lesser known altcoins. Bibox has its own Bibox token BIX that traders can use to get discounts up to 50% on their trading fees.
Bibox offers users the ability to trade crypto and make money through digital mining and crypto-backed loans. It offers intuitive features like an order book and trading history. Customized charts can also be added to create a seamless experience.
This Bibox exchange review has explored the exchange’s key features and services to help you decide if Bibox exchange is a suitable platform for you.
Bibox was created by blockchain developers and Chinese crypto specialists. In 2017, the height of ICO popularity was reached. The Bibox project brought together experts from Binance and OKCoin. The platform currently has offices in Canada and the US as well as Japan, Switzerland, Singapore, Japan, Switzerland, and others.
Aries Wang is a crypto-entrepreneur and investor who founded Bibox. Meilun Li, Bibox’s product manager, and Guojie Liu, the director of operations, are also part of the Bibox exchange team.
Developers promised that they would create a unique exchange by providing innovative tools, and that it could simultaneously service up to 10,000,000 people.
As a decentralized cryptocurrency exchange, Bibox isn’t regulated by any centralized authority.
Bibox claims it complies with all laws and regulations in the areas where it is located.
Bibox: What does it do?
Bibox’s intuitive interface includes features such as an order book and trading history. It also offers adjustable charts. Bibox offers automatic trading and supports stop-limit orders, margin trading, leverage trading, as well as automated trading. Moreover, the platform provides a high transaction speed (<1 second) and is assessed as objectively convenient for trading.
The exchange offers investors a variety of investment options for steady passive income. Bibox offers technical support and detailed training via email.
The Bibox affiliate referral program allows users to earn 20% -50% of the exchange’s net income from the invited participant.
Bibox is Regulated
Similar to other decentralized exchanges Bibox can be self-regulatedThis process is less strict than the KYC verification. Users don’t have to go through KYC verification and can start trading right away.
Estonia is the registered address of Bibox Technology LTD. The user agreement states that the platform operates within the framework of the countries’ laws where it operates. Company has centers of operations in America, South Korea, Canada and Japan.
Bibox, a simple and user-friendly cryptocurrency exchange that is rich in features and has high security features. It also supports a large number of trading pairs and coins. This makes it suitable for experienced and new crypto traders.
However, the platform doesn’t support fiat currencies, so traders must acquire their cryptocurrency from another platform before using the Bibox exchange.
These are the key Bibox features:
- Interface intuitive
- AI-powered algorithms to improve crypto trading experiences
- A wide variety of cryptocurrency support
- The Bibox native token – BIX
- Zero deposit fees
- Transaction fee is low (0.01%) compared with other cryptocurrency exchanges.
- High-security level.
Bibox issued its native BIX token, in accordance with the ERC-20 standard. Initial plans were to issue 500,000,000 crypto coins. However, this was later reduced to 270 million. The token is designed to attract investments and develop the exchange platform’s functionality.
The BIX token has the following use cases:
- Trade Fee DiscountBibox token owners enjoy reduced trading fees and discounts on the Bibox platform
- You have the right to vote Holders of tokens can vote on issues relating to the development of Bibox Exchange.
- BIX Incentive Rewards: Bibox buys back and periodically burns a specific amount of BIX.
- Program Treasure BoxBIX token holders that lock their tokens are eligible for an incentive.
- Bibox Orbit Bibox Orbit is the exchange’s IEO launchpad. BIX token owners can take part in Bibox Orbit and buy listed projects.
Trader can access both the Android and iOS mobile apps. As user-friendly as the website, mobile apps are equally attractive. These mobile applications offer seamless navigation, and can be used to trade on-the-go.
The Bibox exchange desktop application has an intuitive trading interface with extensive settings, different indicators, and charts to meet any trader’s demands. You can customize the functional screen and set up key areas.
Bibox allows anyone to register without restriction on their location. The registration process is standard – you must provide your e-mail address, create a password, and verify your e-mail through the link sent to you.
Bibox is a trading platform
Bibox accounts allow traders to access financial transactions. Traders can place a variety of order types including Limit Order, Stop Profit/Loss and DPL., You can followorder or order an advanced limit.
Selecting a trading pair is necessary in order to make transactions using your Bibox trading account. You can then choose an order type, and the number of coins that are desired for purchase or sale. Once the details are specified, you can click on the “Buy” or “Sell” button.
Deposit and Withdrawal Methods
The Bibox deposits and withdrawals can only be made in the form of crypto assets, as the exchange doesn’t support fiat money on the platform.
There are no fees for depositing money to the platform.
Sign in to Bibox to complete the transaction.
The withdrawal limit for crypto assets is set at $500 per transaction. This limit can be raised after the verification process.
Bibox trading fees
Bibox fees can be compared with other cryptocurrency exchanges and are very competitive. Takers pay a trading fee. 0.20%,And the maker fee is 0.075%.
As the client rises in rank, so do bibox fees. If trading using the native BIX token, trading fees may be even lower. Bibox gives you a 50% discount on the initial year’s trading fees, and then it reduces to 25% for the next year.
Regarding Bibox withdrawal fees, the exchange charges a withdrawal fee, i.e., network transaction fee, which varies depending on the cryptocurrency you’re withdrawing.
Bibox Services and Products
Bibox offers the following trading options on its exchange platform:
- Spot trading
- Margin Trading
- C2C Trading
- Swap USDT
- Coin swap.
Bibox stands out from the rest of crypto exchanges due to its continuous improvements and diverse products/services offerings.
Bibox offers services that enable traders to conduct all their operations from one platform.
- Fixed Investments Investors who wish to purchase and hold long-term assets that are not subject to market volatility.
- DeFi Mining: If you are looking to earn profits mining the platform and selling computer power.
- You can swap for crypto assets: You can trade your crypto assets to get high returns.
- Bibox Labs:Inspire creativity and innovation in children by emphasizing robotics through playful learning.
Bibox Earning Opportunities
Bibox offers several ways to earn, such as:
- Current Financing: This allows you to make a profit from assets. The current financing cycle is 7 days. It starts from the day interest was credited. The client can withdraw the profits manually when the term ends. Otherwise, funds will be transferred to an investment fund account.
- Land/Earn: To gain interest, users of Bibox can borrow the tokens that are available to them.
- Lease of Computing Power: You can make offers to receive commissions.
Bibox Security Features
Bibox is safe, then?
Bibox exchange hasn’t registered any hacking incidents due to the latest security measures on the platform. To protect client accounts, Bibox implements such security protocols as SSL encryption technology, multi-factor authentication, and Google’s 2-Step verification. Bibox also claims that most funds are stored offline in cold storage wallets.
When the prompt appears, it asks for two-factor authentication (Google Authentication/SMS authentication) as well to set up an antiphishing code.
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Bibox’s reputation is for providing prompt and effective customer support in English and Chinese. Bibox customer support can be reached in several ways:
- Contact form
Bibox has also created official social media pages, such as Facebook, Twitter and Reddit. You can find all of the links on the Bibox site.
Bibox offers an extensive range of tokens and cryptocurrencies as well as advanced trading options such margin trading or leveraged trading. This platform is different from all other decentralized exchanges because of its ease-of-use, rich functionality and large section on training guides. There’s no minimum deposit or trading fees.
Bibox has many investment options, advanced features like automated bots and copy trading. It is one of the most popular platforms, with simple functionality and sophisticated trading capabilities.