Bibox Exchange Review: A Legitimate Binance Alternative?

Bibox Exchange Review: A Legitimate Binance Alternative?

One of the newer cryptocurrency exchanges to hit the market is Bibox. This alternate was developed by the groups that created Chinese Bitcoin exchange powerhouses HuoBi and OKCoin. Knowing that, you possibly can relaxation easy realizing that Bibox is an change that may offer quality to its users.

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

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

If you’re ready to study more about Bibox, then let’s get started.

Primarily based on data gathered throughout its ICO, the Bibox company has two main business entities. One business is a cryptocurrency exchange which resides in Estonia, while the opposite is a platform primarily based in Japan designed to vary digital currencies into fiat currencies.

There isn’t plenty of details about the Bibox leadership workforce outside of who they are. Here’s what we do know in regards to the team:

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

The Bibox change provides a lot in terms of great features. Listed here are just just a few you’ll experience if you happen to decide to use Bibox.

Trading Options: Bibox affords its customers a large range of trading options along with an extended list of altcoins. Traders also have the flexibility to create market and limit orders. Additionally, Bibox has straightforward to grasp charges 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 Support: Those who read Korean, Vietnamese, Chinese, Russian, or English will discover Bibox gives its help in these languages. Additionally, the platform has a buyer assist workers that is ready to deal with issues 23/7. Customers can contact the workforce by submitting a ticket situated in the help section of the exchange. There are additionally options to succeed in Bibox customer assist by Telegram, Facebook, and Twitters. An FAQ part is available in the assist section for widespread questions or concerns. Bibox additionally provides a number of guides and walkthroughs which assist navigate the site.

Technology: Bibox needs to be probably 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 additionally affords an API which allows for integration with other platforms for trading purposes. Android and iOS customers can use the mobile app as well as a Mac and PC desktop client.

Functionality: When using Bibox, users get a trading platform that is intuitive and easy to use. There are many features and features available on the change which make shopping for, selling, and trading quick and easy. These embrace in-depth charts, trading hitales, advanced trading instruments, and order books. Additionally, more savvy traders have access to advanced indicators and analysis.

Bibox additionally presents its BIX token, which gives users the flexibility to reduce their fees. Think of it alongside the identical lines as Binance. The exchange has its own token which when used offers customers a reduction on transaction fees. The BIX token is an ERC20 based coin which resides on the Ethereum blockchain. Utilizing BIX gives customers a 50% trading low cost which makes it price utilizing while trading on the Bibox exchange.

Deposit Fees
When it comes 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 moderately have the cash put to use for trading purposes.

Withdrawal Fees
Sadly, withdrawal of your cryptocurrency isn’t free on the Bibox platform, which is the case for a lot of exchanges. You’ll pay a flat payment when withdrawing your cryptocurrency from Bibox, however the price relies on the digital coin you’re eager to take out. The site has a whole list of costs on its fee structure page.

While it could be a new technique of charging withdrawals when it comes to crypto exchanges, it’s nice to have transparency from Bibox so you realize exactly what you’ll pay.

Trading Fees
The trading price is an ordinary charge you can expect to come across with all cryptocurrency exchanges. When trading on Bibox, it’s a percentage of the trade amount. Presently, Bibos expenses a fee of 0.1% on any trades that happen on its platform.

Therefore, any trade made on Bibox, including margins, will lead to a 0.1% fee charged to the asset. This is an automatic charge and cannot be averted so long as you use the platform.

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