It is of course no secret to those involved in the industry and others who are enthusiastic about cryptocurrency that crypto exchanges up until now lack being regulated.
This, unfortunately, as much as gives a wider margin to them to work, it also on the other hand opens the way to scam and risky dealing, in the shade of absence of a clear, straightforward law labels to regulate that business and chase those who run such exchanges when they fail to meet the compliance labels. Hence, most traders feel insecure in their trading, having concerns about whether they are opening their accounts with the right exchange or not.
For the above-mentioned reasons, and since we are leading veterans in the cryptocurrency market, its exchanges and pertinent type of business, at AtoZ Markets, such exchanges are usually given a rigorous eye for study from the senior management to junior editors, before introducing interviews about them to our readers.This comes from our high appreciation to the trust our readers put on us, which we exchange with our commitment to our honor in the market. In this review, we talk about Bibox. We will analyze one of the top 5 cryptocurrency exchanges.
Since traders have parted in two teams for this cryptocurrency exchange between with and against, here we are trying to answer the main question - "Is Bibox scam or reliable? Can I trust Bibox?As a reminder, at AtoZ Markets, Cryptocurrency exchange reviews are not sponsored and they are personal opinions by the authors.
If you are a trader, or investor and you want to share your opinion, please refer to our comments section below this review. Meanwhile, if you are from Bibox and you would like to add comments please contact AtoZ Markets editorial team, though, we don't promise changing our opinion.
Bibox is based in Hong Kong, China. Currently, they have established operation centers in Estonia, the US, Canada, Mainland China, Hong Kong, and Japan to better serve their users.
In this Bibox exchange review, we analyse one of the top 5 cryptocurrency exchanges. Here, we will try to find out "Is Bibox scam or reliable? Can I trust Bibox?
Bibox is an enhanced and encrypted digital asset exchange that allows its users to trade more than 60 currencies.
To help you decide whether Bibox is a reliable crypto exchange for your trading needs, we’ve compiled a wide range of relevant facts and figures in this review. In this Bibox exchange review, we analyse one of the top 5 cryptocurrency exchanges. Here, we will try to find out whether Bibox is scam or reliable and trustworthy.
As a reminder, AtoZ Markets Cryptocurrency exchange reviews are not sponsored and they are personal opinions of the authors. If you are a trader, or investor and you want to share your opinion, please refer to our comments section below this review. Meanwhile, if you are from Bibox Exchange and you would like to add comments please contact AtoZMarkets editorial team, though, we don't promise of changing our opinion.
Is Bibox Safe?
Security is huge for Bibox.com that’s why they provide services beyond your login password. They support Google Authentication, SMS Authentication, and Funds Password. The added security measures make all registered customer’s accounts safe and away from a potential compromise of account. Aside from the multiple layer of passwords, the website also provides a complete login record to help you keep track of your account’s activity.
Is Bibox reliable or SCAM?
After carefully examining in depth about the Bibox cryptocurrency exchange, it became evident that the exchange offers exceptional cryptocurrency trading services. It offers a vast variety of cryptocurrencies to exchange in a number of markets. The website and platform operate very efficiently, and the customer support is pretty good as well. It is unfortunate that this exchange doesn’t offer fiat currency pairings, but this doesn't violate deal for many. All in all, the Bibox exchange is a comparatively good exchange with decent trade volume and low fees.
According to the research made by our AtoZMarkets team, Bibox has proven to be reliable and trusted exchange among crypto traders. On top of that, Bibox is a very legit exchange and is not a scam.
Bibox trading fees
This exchange offers competitive 0.1% trading fees as well as fee discounts for holders of its native BIX token. The trading fee of 0.1% will be deducted from your balance.
You will enjoy a 50% discount on transaction fees if you pay with BIX when you trade any token on the Bibox platform. If you hold enough BIX to pay for transaction fees, the system will calculate transaction fees according to the market price and convert the fees to BIX with 50% discount for payment completion.
Bibox takers fee
The rate of trading fee is 0.1% for Taker.
The "taker" is a trader who removes the liquidity from the book by placing an order that matches immediately with an existing order on the book.
The rate of traiding fee is 0.1% for makers.
The "maker" is a trader who provides liquidity to the order book by placing a limit order below the best ask price for the buy and above the best bid price for the sell.
Bibox deposit fees
Bibox doesn't charge any fee for the deposit.
Bibox abides the regulatory laws of the governments that regulate the participation of their citizens in crypto trading. However, Bibox claims to confirm that you comply with the laws and regulations of the country and are willing to bear all the legal consequences arising thereof.
User Interface (UI)
Bibox keeps its website simple and eye-friendly. The user interface is more easy to understand, and traders can’t miss their way on it. The menu is categorized properly and there is a visible tile one can spot, where they can download the application for all the platforms in use.
The platform of Bibox exchange is pretty basic compared to other crypto trading exchanges in the market. The chart is located in the center of the platform and the order slip is right below that. Order slip displays the best price that you have for the day.
However, you can change it manually by clicking on the price box and entering the desired buy/sell price.
The exchange doesn't charge any fee from their side for the withdrawal process. However, the withdrawal fee i.e. network transaction fee will vary according to the following table
Bibox’ customer support team stands ready online 24/7 via phone support to help customers to effectively resolve any trading issues.
Based on the direct check and the survey with their customers we, at AtoZ Markets, have carried out, their support team seems to be responsive and efficient in dealing with the
The support team can be reached out through live chat, phone numbers, and emails, as their website shows, while bellow we are gonna review the pros and cons of the exchange:
- Two Factor Authentication
- AI enhanced encrypted digital asset exchange
- Low Fees
- A wide range of coins
- No Fiat Payments
- Leverage not available yet
- Not a regulated exchange