Bibox is one of the latest cryptocurrency exchanges in the market, having opened its doors to traders in 2017. We have prepared a Bibox review of this Chinese-based exchange which ranks as having a wide variety of cryptocurrencies at some of the cheapest trading rates in the market. The platform is available via a web-based interface or via a desktop app as well as via an iOS or Android smartphone app. With numerous options available on the market, we have prepared this Bibox review for your consideration. Read this Bitbox review to the end and find out if it is the right exchange for your trading needs.
Trading Options
Bibox offers its users their revolutionary CunBi Bao financial product that allows users to look up and research on their preferred digital assets for a fixed period to earn a profit. The platform also has its own BIX tokens which attract fee discounts. Other than that, Bibox offers traders over 60 cryptocurrencies to trade against Bitcoin, Ethereum, Tether, BIX tokens, and Dai.
Traders have the option of viewing the platform in basic mode or fill screen platform mode, the latter being for professional traders looking to make tactical trades. However, both of these modes offer traders several technical charting tools and indicators for analyzing the price of their preferred digital assets. With that said, traders have the freedom to place multiple order types such as limit orders, market orders, as well as set stop-losses as noted in other Bitbox review available online.
Deposits, Fees, and Withdrawals
Deposits can only be made through cryptocurrencies since the platform does not support fiat currency deposits. With that said, there are no fees for depositing funds into your Bibox review wallet. The platform charges 0.1% taker fees and gives a rebate of the same amount to the makers. However, traders using the platform’s native BIX token they get 50% discount on all fees.
For withdrawal fees, the amount varies from one cryptocurrency to the other. You can always check the fees on the website before transacting funds from your account. The amount you withdraw from your account depends on the level of verification you have achieved.
After signing up and verifying your email address, you can only withdraw 2 BTC per day. When you give more documents for verification, then you can withdraw as much as 20 BTC per day.
Security and Support
It is also important in this Bibox review to note that the platform allows users to trade on the platform with a basic account that does not require them to give their personal information. However, Bibox supports 2-factor authentication which adds a layer of security to user accounts. To safeguard your funds, ensure to set a secret PIN that must be entered to complete the withdrawal transaction. The platform also uses SSL encryption technology to hide transaction data from hackers, and they store a majority of funds in cold multi-signature wallets. This is one of the aspects that leaving out in this Bitbox exchange review would be unforgivable.
As noted in other Bibox review, it offers customer support for any problem a user may face while on the platform. You can make a support request via Zendesk, Telegram, or WeChat. The customer support services are available in both English and Chinese languages.
Conclusion
The Chinese platform is available the world over, and that includes the US. You can contact the support team to establish whether your country is one of the supported hubs. We hope that the Bibox review above was insightful and that you can make the right choice about Bibox. Read more about crypto exchanges here.