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BingX Crypto Exchange Review: It Is Good Or Bad?

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About Bingx Crypto Exchange

Founded in 2018, BingX is a global digital asset, spot, and derivatives trading platform that provides a user-centric and open ecosystem with intuitive social trading features. Created to enrich the entire cryptocurrency industry, BingX is a safe, reliable, and user-friendly venue for users to trade their favorite assets.

BingX Crypto Exchange registered in Singapore. It has been active since 18 November 2021, when it was born from a rebranding of Bingbon. Bingbon in turn had been active since 2018. This exchange is a so called derivatives exchange, meaning that they focus on derivatives trading.

BingX platform does however support spot trading as well, so if that’s your preference, this platform can still be for you. A derivative is an instrument priced based on the value of another asset (normally stocks, bonds, commodities etc). In the cryptocurrency world, derivatives accordingly derive its values from the prices of specific cryptocurrencies

BingX Exchange Basic Points

Exchange NameBingX
Withdraw Fees0.0005
Deposit FeesFree. Small deposit fees apply.
Easy To Use Yes
Make Fee0.02%
Taker Fee0.05%
Customer Support Available At Ticket & Live Chat
Official SiteHomepage

How To Start ?

How To Sign Up At BingX Exchange?

It Is Very Easy To Sign Up At BingX Exchange . Just Click On Sign Up Button At Website .Fill Registration Form With Correct Details Like Your Email , Phone Number , Password Etc . Once You Fill All Data You Get Verification Link At Your Email . Just Verify Your Link For Successfully Verification.

How To Deposit Fund At BingX Exchange ?

Once your account has been verified, click on the ‘DEPOSIT’ button, which you’ll find at the top right-hand side of the screen. Choose which currency you want to deposit and then you will be provided with the Wallet details that you need to transfer the funds to .

How To Trade At Exchange ?

Once your account is funded, you can then begin day trading at Valr. Click on the ‘TRADING’ button at the top of the screen, and you will be taken to the main trading area. You now need to select the trading pair that you want to trade. Finally, enter the amount that you want to buy, decide whether you want to do a ‘market order’ or ‘limit order’, and then place your trade.

How To Withdraw At BingX Exchange ?

Withdrawing your funds from Swipe is very easy. Go to the “Withdraw” window, select the asset you want to take out and fill all the required fields. Note that you won’t be able to withdraw currencies if you haven’t secured your account with 2FA and/or whitelisted addresses.

BingX Trading fees

Every time you place an order, the exchange charges you a trading fee. The trading fee is normally a percentage of the value of the trade order. Many exchanges divide between takers and makers. Takers are the one who “take” an existing order from the order book. Makers are the ones who add orders to the order book, thereby making liquidity at the platform.

At BingX, takers are charged 0.05% per order. When it comes to the makers, their fee is 0.02%. According to the most extensive industry report ever prepared on contract trading average fees, the global average contracts trading taker fee and maker fee was 0.0591% for takers and 0.0215% for makers. Accordingly, fee rate is considerably below the industry average for makers and above the industry average for takers.

BingX Withdrawal fees

Withdrawal fees are usually fixed and vary from crypto-to-crypto. If you withdraw BTC, you pay a small amount of BTC for the withdrawal. If you withdraw ETH, you pay ETH. The last time we did an empirical study of the BTC-withdrawal fees in the crypto exchange market, we found that the average BTC-withdrawal fee was 0.0006 BTC per BTC-withdrawal.

BingX charges 0.0005 BTC per BTC-withdrawal, which is below the global industry average (being 0.00053 BTC per BTC-withdrawal according to this report) and a quite competitive fee.

Deposit Methods

In order to trade here, you must have cryptocurrency to begin with. The only asset class you can deposit to This is cryptocurrency. However, if you really like BingX Crypto Exchange but you don’t have any crypto yet, you can easily start an account with an exchange that has “fiat on-ramps” (an exchange where you can deposit regular cash), buy crypto there, and then transfer it from such exchange to this exchange.

Mobile Support

Most crypto traders feel that desktop give the best conditions for their trading. The computer has a bigger screen, and on bigger screens, more of the crucial information that most traders base their trading decisions on can be viewed at the same time. The trading chart will also be easier to display. However, not all crypto investors require desktops for their trading. Some prefer to do their crypto trading via their mobile phone. If you are one of those traders, you’ll be happy to learn that BingX’s trading platform is also available as an app for iPhone and Android users.

BingX Features

Contracts For Difference (CFD)

A Contract For Difference allows traders to speculate on the value of a digital asset. It is a cost efficient way to trade a variety of assets.

Spot and Derivatives Market

BingX enables its users to trade digital assets in minutes. In addition, the platform also offers its token, VST, for users to learn about trading or plan their strategies before they start their real trading.

BingX Affiliate Program

BingX Crypto Exchange provides convenient and reliable digital asset trading services for global users. Currently, BingX covers over 100 countries and regions. Established in 2018, This is a crypto social trading exchange offering both spot & derivatives trading services. As a social trading platform, This is committed to giving users the best trading experiences and ensuring users invest in a simple, engaging and transparent way.

Bixer Simond
Bixer Simond
Bixer Is Long Term Writer & Editor At Woodfi . His Hobby Is Writing Article For Wootfi Visitors . His Main Focus Area Is Crypto , Affiliate , Blockchain , NEFT , ICO . In Free Time He Loves To Research New Things
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