Bibox review, benefits and drawbacks

Crypto Exchanges

Bibox is a Chinese cryptocurrency exchange, which was established in 2017. Since the moment of its creation, it has shown an active growth in trading volumes, which speaks for cloudless medium-term prospects. At the time of writing, the daily volume of trading on the exchange exceeds half a billion dollars. 200 million of them accounts for trading the BTC/USDT pair.
Bibox interface was translated into several languages, so you will not find it difficult to use it and assess the breadth of its functionality.

Bibox com interface and security

Bibox developers wanted to improve the quality of the service to make it more convenient. The interface is thought out to the last bit. The developers paid special attention to security issues. Aside from the standard login and password, which are considered the basic protection of a user’s account, the exchange also provides such tools as:

  • Authorization via SMS. When you try to log in to your personal account, a message with a one-time code is sent to the phone number specified by you during registration.
  • Google Authenticator. This application is considered as a reliable way to authenticate the user in the trading cabinet of the exchange. You only need to install the appropriate application on your smartphone.
  • Cashout password. This is the password that is used to withdraw assets. Its advantage is that if hackers gain access to your account, they will not be able to withdraw money without knowing the second password.

Main features of the trading platform

Bibox interface is divided into several zones. Among them you can find the window for selecting an asset, viewing open and closed orders, as well as a window for transactions with the “crypt”. Bibox com offers a convenient chart like a Japanese candlestick for monitoring the prices and analyzing the trading pairs. Trading volumes are traditionally represented below the chart. The trader is offered several opportunities for high-quality technical analysis.
Directly below the price chart, there is a window with orders. A user can track both open orders and completed transactions. The exchange functionality allows you to create both market and limit orders. Besides, the website makes it possible to conduct margin trading with leverage.

Registration, account replenishment, and trading

The registration procedure on Bibox does not differ from similar procedures on other platforms. You are offered to enter your email and think of a password. Before you start trading, you need to verify your e-mail. After that, you will only need to make a deposit.
Please note that the daily withdrawal limit for unverified users is 2 BTC. If you want to extend the limit, you will have to pass the verification procedure. To do this, you will need to send a scanned copy of your passport and confirm the registration at the place of residence, specified in the document.
Depending on the cryptocurrency used, the deposit procedure can take from a couple of seconds to several minutes. There is no minimum amount of deposit/withdrawal of funds on the exchange. As soon as the money is credited to your account, you can start opening the first trading orders.
The trading commission on the exchange is standard (0.1%). To reduce the size of the commission, you are recommended to use an internal BIX token, which provides its holders with certain privileges. Since the exchange is considered to be quite promising, the chances are that the token price will only increase over time.

Advantages of the exchange

We would like to note some of the best advantages of the platform, among which are:

  • High level of security. Bibox market provides several means of effective protection, including two-factor authorization.
  • Qualified team of developers. From different sources, you can learn that the exchange is headed by experienced financiers who are well versed in blockchain technology and artificial intelligence.
  • Stable operation of the platform. Due to the unique method of cluster distribution, the exchange is always stable and is not exposed to external influences.
  • High integrative settings. The exchange is compatible with many other services related to cryptocurrency trading.
  • Potential for growth. In light of the information available on the official website, the exchange can handle up to 10 million users.
  • Detailed market statistics. On the Bibox exchange, users can use a variety of tools to open and close positions, as well as select the most profitable trades.
  • Numerous cryptocurrency pairs. To date, the exchange does not support fiat money but the developers are planning to add Dollar, Yuan, Euro, and Yen.
  • Decentralization. Thanks to the distributed architecture of the exchange, all transactions are as transparent as possible.

Final results

Bibox cryptocurrency exchange is a convenient and well-protected exchange. However, the trading volume is not so great in comparison with the giants of the industry. Experts note the prospects of this trading platform along with its internal BIX token. However, it is ill-advised to keep all your funds on this exchange. It is more reasonable to distribute it on several trading platforms to be sure that they would be safe.

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