Is BingX safe to use Reddit? (2024)

Is BingX safe to use Reddit?

BingX has proven to be one of the most legitimate and reliable crypto exchange platforms owing to its numerous and convincing achievements over the years.

Can BingX be trusted?

BingX appears to be a reputable cryptocurrency exchange that offers a wide variety of assets, trading tools, and features to its global customer base. It has implemented numerous security measures to safeguard users' funds and information, as well as 24/7 customer support.

Is BingX a good trading platform?

Overall, BingX makes a trustworthy option for trading major cryptocurrencies with margin and derivatives.

Can US customers use BingX?

31, 2022 /PRNewswire/ -- Social crypto trading platform BingX received official approval in the United States and Canada to operate as a Money Services Business (MSB) exchange under regulatory control. BingX prides itself on being compliant, adhering to regulatory practices and industry standards across the board.

Is BingX a regulated broker?

BingX Compliance & Regulation

BingX is regulated by DCE (Australia) and Money Services Business (United States & Canada). As an international financial service, this institution has offices in the EU, North America, Canada, Taiwan, and Hong Kong.

How long does BingX withdrawal take?

Withdrawals need to be confirmed by the entire blockchain, which will take around 10 to 120 minutes before the asset is credited into your account.

Does BingX require KYC?

Before selling cryptos, please transfer the currency in the quantity you want to sell to your "Fund Account". You will also need to complete your KYC verification (BingX Tutorial | How to Complete KYC or Identity Verification).

How much is the fee in BingX?

Trading Fee Rate

Taker (executed instantly): 0.075%; The current fee rate is discounted as 0.050%. Maker (pending orders) fee rate: 0.045%; The current fee rate is discounted as 0.020%.

Does BingX have fees?

BingX does not charge deposit fees. Please note to meet the minimum deposit requirement, otherwise, your deposit will not be credited and returned. For each withdrawal, users need to pay a flat fee. Withdrawal fees are determined by the blockchain network and can fluctuate due to factors such as network congestion.

How much does BingX charge for copy trading?

What is KYC on BingX?

A2: Before buying cryptos for the first time, you need to complete KYC (Know Your Customer) verification in the "Identity Verification" section. Once verified, you can quickly buy cryptos through P2P Trading.

Can you trade stocks with BingX?

BingX Standard Futures lists stocks, allowing users to trade stock futures using cryptocurrencies.

How many users does BingX have?

About BingX

Founded in 2018, BingX is the world's leading cryptocurrency exchange, providing spot, derivative, copy and grid trading services to more than 5 million users in over 100 countries and regions.

Which country made BingX exchange?

Founded in 2018 by Josh Lu_, BingX is a Singapore based cryptocurrency exchange that has gained a significant global presence.

Does BingX use margin?

BingX adheres to a tiered margin model approach for risk management. The maximum leverage is determined based on your position's notional value. To mitigate the potential risks associated with high leverage, the larger your position notional value, the lower the maximum leverage.

Who are the competitors of BingX?

Is BingX a crypto exchange?

BingX is a leading crypto exchange that offers spot, derivatives, copy, and grid trading services to over 100 countries and regions worldwide with over 5 million users.

How do I sell Usdt on BingX?

Step 1: Select a merchant. Select a fiat currency --> Click "Sell" --> choose a merchant and click "Sell USDT". Step 2: Enter the value or amount, click Sell. Step 3: Wait for the merchant to pay, confirm the receipt of the payment and release the crypto to complete the order.

Can I buy crypto on BingX?

BingX users can buy crypto with fiat currency on the platform. We support nearly 100 fiat currencies such as USD, EUR, TWD, and VND for deposits, and over 300 payment methods including Visa, Mastercard, SEPA, and Line Pay.

Why choose BingX?

BingX offers competitive fees for both spot and futures trading, and its fees are among the lowest in the industry. BingX employs highly strict security measures – including Sumsub's 2FA verification and a bank-grade custody solution.

Is it illegal to buy crypto without KYC?

KYC (know your customer) laws vary from region to region, and as a rule we do not recommend using centralized no KYC exchanges because of the risks involved, both legal and in terms of platform credibility, security, and liquidity. See our choices of the best crypto exchanges and apps generally for alternatives.

Where is BingX located?

BingX is a crypto social trading exchange platform. It provides spot trading, derivatives, social crypto trading, and more. The company was founded in 2018 and is based in Singapore.

How do I buy on BingX?

Step 1: Log in to BingX's official website. Click "Buy Crypto" on the homepage and select "Buy Crypto". Step 2: Select a payment currency and the receiving crypto. Enter the value of fiat currency you would like to pay or the amount of crypto you would like to buy, and then click “Buy”.

How does BingX leverage work?

Leverage trading is when crypto traders borrow more capital from the exchange to trade beyond what is available on their cash balance. It is worth noting that leveraging does not only apply to the crypto market; it can be used to trade other financial assets.

What is the minimum age for BingX?

By signing up to use a BingX Account (as defined in Section 5 below), you represent and warrant that you (a) are at least 18 years old or of legal age to form a binding contract under applicable law, (b) are an individual, legal person or other organization with full legal capacity and authority to enter into these ...