BingX is a globally recognized cryptocurrency exchange with over 20 million users, offering spot trading, grid trading, and derivatives, while maintaining a user-friendly and technologically advanced platform. It supports trading for major cryptocurrencies like BTC, ETH, XRP, and DOGE, with competitive trading fees starting at 0.050% for makers and 0.100% for takers. BingX prioritizes security through multi-layer authentication, strict KYC verification, and 100% Proof-of-Reserves with regular audits. Deposits and withdrawals are efficient, with multiple payment methods available, including bank transfers, PayPal, Visa/Mastercard, and cryptocurrency transactions. The platform is officially registered and regulated in the US, Canada, Australia, and the EU, ensuring compliance with international financial laws.

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BingX Review: Is It a Safe and Reliable Crypto Exchange?

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BingX

An undisputed leader in the sector, BingX is an international exchange that offers excellent service to over 20 million users worldwide. The exchange allows trading on a wide range of products and operates optimally using cutting-edge services and tools.

Regarding trading conditions, the exchange offers its customers spot conversion, grid trading, and derivatives (perpetual and standard futures). Leverage is not included among the services offered. Standard fees for BTC/USDT start from 0.050% for the maker and 0.100% for the taker. The spread is variable, with an average value for most assets of 0.04% (in some cases up to 0.01%). As for the available instruments, the company allows trading on Bitcoin and all major altcoins, including ETH, XRP, $XEMP, BNB, DOGE. The base asset is USDT, and all other instruments will be traded with it. Any trading fees are charged in USDT, and deposits converted to USDT.

• A wide range of instruments to trade on, including BTC, ETH, USDT, XRP, DOGE, BNB, and other popular altcoins
• Each trader will have the opportunity to trade on the spot market and profit from conversion and grid trading.
• Innovative platform dedicated to social trading and copy trading that allows traders to: interact with each other to improve their style – copy operations carried out by professionals in the sector and derive the same benefits.
• Trading fees minimized, with an average daily spread of 0.04%.
• Technologically advanced and extremely intuitive simple mobile app and a TradingView-based trading platform.
• The exchange is officially registered in the United States, Canada, Australia, and the EU (Estonia), to offer a transparent service with high safety standards.
• Continuous support, 24 hours a day, 7 days a week, guaranteed by experts in the field always ready for any eventuality.

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Is BingX reliable?

As an international company with millions of customers in over 100 countries worldwide, BingX promotes an environment with the highest safety standards to protect both the user’s assets and sensitive data. With branches in North America, Canada, EU, Hong Kong, and Taiwan, the exchange operates globally with maximum efficiency, ensuring maximum support for traders.

Furthermore, by constantly collaborating with multiple regulatory authorities, it guarantees a transparent service, compliant with local laws and regulations.

• BingX US LIMITED is registered as a Money Services Business (MSB) under the Financial Crimes Enforcement Network (FinCEN) of the United States Department of the Treasury with approval to engage in FX activities.
• BINGX GLOBAL PTY LTD is registered as a Digital Currency Exchange (DCE) provider at the Australian Transactions and Reports Analysis Centre (AUSTRAC).
• BINGX EU UAB is a financial services company registered in Lithuania, a member of the European Union, and is recognized and regulated by the Financial Crime Investigation Service (FSIC) as a digital currency exchange.

Compliant with current regulations

To ensure a hazard-free environment and maximum support for customers, BingX is strictly authorized by multiple regulatory bodies. With branches in Canada, EU, and Australia for meticulous management of the service offered.

2FA Authentication

For the safety of customer data, the company adopts strict security measures that include: two-factor authentication – KYC verification (a process necessary to activate one’s account, the trader will have to prove their identity and country of origin by sending the necessary documents) – Automatic detection of cybersecurity crime risks with advanced AI technology.

Maximum transparency

100% Proof-of-Reserves with impenetrable cybersecurity, which includes security audits approved by the leading security-focused ranking platform CertiK.

Bug Bounty

Innovative program created to incentivize customers in reporting any security flaws.

100% Proof of Reserves

With the aim of safeguarding customer funds, the company uses reserve funds. The financial data of the exchange is constantly verified by authoritative auditors. Furthermore, the company commits to publishing the Merkle Tree on the 1st and 15th of each month. Each customer will have the opportunity to consult their asset in the Merkle Tree (which currently supports BTC, ETH, USDT, USDC) with a Hash ID. The correspondence between the asset and the balance visible in the verification result, incontrovertibly proves that the data have not been manipulated and that the exchange has reserved the trader’s fund. The platform also utilizes Cold Storage technologies to keep users’ funds safe.

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Deposit Section

The exchange offers customers numerous valid options for making a deposit and starting trading. High levels of security and strict controls guarantee rapid and protected transactions for the customer. Every trader will easily be able to select their preferred payment method and fund their account with ease, following the simple guidelines. The company imposes no deposit fee, regardless of the funding method selected.

To activate an account, the company requires an almost negligible minimum deposit, with 0.001 in BTC and 1$ in USD or USDT. However, the minimum capital for trading is $10.

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Are there any fees charged by payment methods?

Although the exchange does not charge any fees for deposit transactions, the available funding methods may charge fees that do not depend on the management of the company. Fees and possible additional expenses may vary depending on the trader’s country of residence and the prevailing laws.

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Is it possible to deposit Fiat currencies?

Yes, the platform recently allows the deposit of fiat currencies. The available currencies are as follows: EUR, GBP, BRL, AUD, TRY, ZAR, PLN, NGN.

BingX has partnered with Legend Trading, a strictly authorized excellent money service business (MSB), which allows traders to access a fiat deposit service. In this way, users will have the opportunity to deposit fiat currencies supported by BingX and buy cryptocurrencies directly.

It is important to note that the list of available currencies is subject to continuous changes and updates necessary to meet regional restrictions. Consequently, it is very important to periodically inquire by contacting customer support, to be able to ascertain the availability of one’s regional currency. The support of regional currencies allows users from different countries to exchange fiat currencies with cryptocurrencies with minimal conversion costs. This allows saving from 1% to 5% on all transactions made.

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How to make a deposit

To deposit funds and start trading, each client must first be the holder of a strictly verified account. To make a deposit, simply follow the next simple steps:

First step.

Log in to your real account and click on the “Activate” icon, visible in the top right corner of the page and select the “Deposit” box in the dropdown menu.

Second step.

Select the desired payment method, the network, and the account to credit the deposit to.

Third step

On the platform, the trader will need to scan the QR code of the deposit address to proceed with the transfer. Alternatively, it is possible to click on the “copy” icon to copy the deposit address and paste it onto the platform to transfer the funds.

1. It is advisable to carefully check that the currency and the deposit network are entered correctly. Otherwise, your funds will be lost and cannot be recovered.
2. Amounts less than the minimum allowed deposit will not be considered.
3. The broker is not responsible for any delays in the execution of deposit operations. Factors such as sudden network congestion could cause delays in processing the request. It is possible to retrieve the TxID from the platform to verify the status of asset transfer.

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Withdrawals

The company allows secure withdrawals using various funding methods. Bing imposes withdrawal limits on customers, aiming to guarantee high security standards. First, the amount of money that can be withdrawn varies whether the trader is verified or not. Unverified traders generally have lower limits, while verified customers undergo KYC (Know Your Customer) checks and must adhere to more stringent limitations. Such measures protect the funds of traders and optimize the integrity of the platform, promoting a supervised and protected environment.

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What are the withdrawal fees to be borne?

The fees to be paid for making a withdrawal vary depending on the selected payment method. The costs are calculated accurately, in order to cover all network transaction costs. To further reduce trading costs, it is advisable to regularly consult the withdrawal page to learn about any changes in costs and choose the most economical. Below are some of the available funding methods:

To make a withdrawal, simply follow the next very simple steps:

First Step

Log in to your account using your credentials.

Second Step

In the Assets menu, click on the withdrawal icon to start the withdrawal process.

Third Step

Decide whether to make an on-chain or internal transfer. Choose on-chain transfers on the blockchain or internal transfers on BingX for excellent flexibility in managing your crypto assets.

1. Active BingX on-chain transfer: This procedure involves transferring cryptocurrencies from your BingX account to an external wallet or address on the blockchain. Traders will have the opportunity to easily transfer their own funds, using their wallet address and email. This method ensures maximum transparency and security for customers, as transactions occur directly on the blockchain network.
2. Internal BingX transfer: essentially moving cryptocurrencies within the platform. Users can seamlessly transfer digital resources between their own accounts using the user UID, email, or phone numbers.

Fourth Step

In this step, the trader will have to choose the currency to use for the transfers and enter all the necessary information for the execution of the withdrawal correctly.

Fifth Step

Select the network for on-chain transfers (such as ERC-20), through the blockchain protocol of the selected cryptocurrency.

Sixth Step

Enter your wallet address and the amount to be withdrawn. Make sure to enter all the information correctly to avoid losing your funds.

Seventh Step

To enable internal transfers, the customer will need to provide their user UID, email address, or phone number.

Last Step

Once all the necessary data has been correctly entered, click on the “Withdraw” icon. The withdrawal process will be initiated.

The company regularly recommends traders to trade responsibly. Cryptocurrency markets, in addition to having very advantageous characteristics, hide numerous pitfalls mainly derived from extremely high volatility. Before making any operation, create accurate strategies with the right functions to protect oneself from excessive risks. Beginner traders can test their skills and the environment offered, using demo accounts at zero cost and without any risk of loss.

For any additional information, contact the always available support team or alternatively, visit the official website.

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FAQs

Is BingX a secure exchange?

Yes, BingX follows strict security protocols, including 2FA authentication, KYC verification, and Proof-of-Reserves audits.

What cryptocurrencies can I trade on BingX?

You can trade BTC, ETH, USDT, XRP, DOGE, BNB, and many other altcoins.

Does BingX charge trading fees?

Yes, the trading fees start at 0.050% for makers and 0.100% for takers.

What deposit methods does BingX support?

You can deposit funds using bank transfers, PayPal, Visa/Mastercard, cryptocurrency, and other methods.

Is there a minimum deposit requirement?

Yes, the minimum deposit is 1 USDT, and the minimum trading amount is $10.

Does BingX offer leverage trading?

No, leverage trading is currently not available on BingX.

Is BingX regulated?

Yes, BingX is registered and compliant with regulations in the US, Canada, Australia, and the EU.

What are the withdrawal limits?

Unverified users can withdraw up to 50,000 USDT per day, while verified users can withdraw up to 5,000,000 USDT.

How does BingX ensure the safety of user funds?

BingX uses Proof-of-Reserves, cold storage, AI security monitoring, and regular audits to protect user assets.

Can I participate in an affiliate program with BingX?

Yes, BingX offers an affiliate program with rewards for referring new users.