Bibox Trade Review: A Reputable Binance Alternative?

Bibox Trade Review: A Reputable Binance Alternative?

One of many newer cryptocurrency exchanges to hit the market is Bibox. This exchange was developed by the teams that created Chinese Bitcoin alternate powerhouses HuoBi and OKCoin. Realizing that, you'll be able to relaxation straightforward figuring out that Bibox is an change that may provide high quality to its users.

After all, there are many exchanges available already. Why would somebody look at Bibox when they can already choose between Binance, Kraken, Gemini, and others?

This is just the query we’re going to reply during our Bibix review. We’ll decide whether or not Bibox is a safe alternate, the way it handles charges, what prices you will encounter, and finally, whether or not or not this is an exchange you want to use.

In case you’re ready to learn more about Bibox, then let’s get started.

Primarily based on data gathered during its ICO, the Bibox company has two main enterprise entities. One business is a cryptocurrency trade which resides in Estonia, while the other is a platform based mostly in Japan designed to vary digital currencies into fiat currencies.

There isn’t loads of information about the Bibox leadership crew outside of who they are. Here’s what we do know concerning the crew:

CEO: Jason He
Co-Founder and Overseas President: Wanlin Wang
Head of Marketing: Alicia Pan
Head of North America: Jian Qin
Enterprise Development: Estella Liu
Bibox is defined by its builders as an encrypted cryptocurrency change that uses leading edge systems which make it capable of supporting more than 10 million users at once. With its advanced AI options, Bibox is a digital forex exchange price investigating.

The Bibox exchange provides plenty in relation to nice features. Listed here are just a few you’ll expertise for those who decide to make use of Bibox.

Trading Options: Bibox provides its users a large range of trading options together with an extended list of altcoins. Traders even have the flexibility to create market and restrict orders. Additionally, Bibox has straightforward to know fees for all customers (which we’ll cover in a bit). If traders use the Bibox native token, BIX, when trading, they obtain a 50% low cost on all transaction fees.

Customer Help: Those who read Korean, Vietnamese, Chinese, Russian, or English will find Bibox presents its help in these languages. Additionally, the platform has a customer help staff that's ready to cope with problems 23/7. Customers can contact the workforce by submitting a ticket located in the assist part of the exchange. There are also options to achieve Bibox customer assist via Telegram, Facebook, and Twitters. An FAQ part is available within the help part for widespread questions or concerns. Bibox additionally supplies a number of guides and walkthroughs which assist navigate the site.

Technology: Bibox needs to be the most technologically advanced cryptocurrency exchange on the market. With its smart tools and AI performance, the platform makes a robust case for itself. Bibox also presents an API which allows for integration with different platforms for trading purposes. Android and iOS users can use the mobile app as well as a Mac and PC desktop client.

Performance: When utilizing Bibox, customers get a trading platform that's intuitive and simple to use. There are plenty of features and features available on the exchange which make buying, selling, and trading fast and easy. These embody in-depth charts, trading hitales, advanced trading tools, and order books. Additionally, more savvy traders have access to advanced indicators and analysis.

Bibox also affords its BIX token, which offers users the power to reduce their fees. Think of it along the same lines as Binance. The change has its own token which when used provides customers a discount on transaction fees. The BIX token is an ERC20 primarily based coin which resides on the Ethereum blockchain. Using BIX provides customers a 50% trading discount which makes it value using while trading on the Bibox exchange.

Deposit Fees
With regards to deposit fees, there are none with the Bibox exchange. This is something that many exchanges incorporate as part of their platform strategy since they’d quite have the cash put to make use of for trading purposes.

Withdrawal Fees
Sadly, withdrawal of your cryptocurrency isn’t free on the Bibox platform, which is the case for many exchanges. You’ll pay a flat fee when withdrawing your cryptocurrency from Bibox, but the payment is dependent on the digital coin you’re wanting to take out. The site has an entire list of fees on its charge construction page.

While it is likely to be a new method of charging withdrawals relating to crypto exchanges, it’s nice to have transparency from Bibox so you know exactly what you’ll pay.

Trading Fees
The trading fee is a standard charge that you could anticipate to come across with all cryptocurrency exchanges. When trading on Bibox, it’s a percentage of the trade amount. At the moment, Bibos fees a price of 0.1% on any trades that occur on its platform.

Due to this fact, any trade made on Bibox, together with margins, will lead to a 0.1% price charged to the asset. This is an automated charge and can't be prevented so long as you utilize the platform.

Bear in mind, although, that in case you pay for the fee with BIX, then you definately get a 50% discount. That means that you’ll only pay 0.05% per trade. That’s a fairly hefty discount when you’re a high quantity trader. This is certainly one of many premier features that makes Bibox stand out from its competitors.