Bibox Exchange Review

Bibox Exchange Review

Look out Binance and Huobi, there is a new crypto exchange in town. Bibox exchange has come to change the crypto game forever. With its AI-enhanced digital asset, trading currencies have never been so easy.

On top of that, Bibox has tons of coins and currencies available on their platform. The hope of a decentralized world isn’t far away because of platforms like Bibox. 

About Bibox Exchange

Bibox took its first baby steps in the year 2017. At that time, cryptocurrency was the talk of the town. Everyone was thinking about investing in it. Some were optimistic while others were skeptical.

Bibox began its inception to make trading accessible to everyone. And in less than 5 years, they have already made quite a difference. Currently, Bibox has about 163 coins and 262 trading pairs. Those numbers alone tell you that Bibox is on the right path. They still have a long way to go to achieve their goal of decentralization. 

Top Features

There are so many exciting features of Bibox exchange we can talk about for days. But let’s keep it short and precise. Here are some of the most intriguing features of Bibox exchange that are enough to make you think twice. 

Smooth User Interface

Most Chinese sites have unclear fonts and confusing headings that can boggle your mind.  But not the Bibox exchange. The website runs smoothly without any issues. Every single tool of the platform is easy to use and responsive. Everything is aligned in a perfect way that is easy on the eye.

The fonts are clear and you can see the logos of different currencies beside their name. This is a helpful feature as it makes it much easier to identify the coin. Not just that, Bibox has a night and day mode so that your precious eyes always stay protected. How cool is that!

Now let's talk about the market view. You will see in some exchanges that lines and sheets are scrambled and popups keep on appearing. But there is no such issue when it comes to the Bibox exchange.

You can see the margin icons of certain coins that support margin trading. You can also determine the actual price of the coins by clicking on the fiat currency option. It helps you get an idea of the value in the dollar or euro. You can also check the NFTs, Polka dots, storages even chain-based things.

There is also a trading tab in the user interface. It has different selling and buying margins. You can filter out the unnecessary portions from the interface. The only bummer is that there is no dusting mechanism to sort out the coins according to your preference. 

Attractive Fees

Every exchange in Bibox occurs between the taker and maker. The maker has a transaction fee of 0.10 percent. On other hand, the transaction fee of the taker is a bit high for obvious reasons. The fee is 0.20 percent every transection. 

Bibox exchange has a native token called BIX. To promote it, Bibox offers an attractive deal to the traders. If you hold the BIX token, you can use it to pay the trading fees at discount. The discount can go up to 25 percent. You can also be a VIP member after completing certain milestones.

The perks of being a VIP member are enormous. Apart from that, the withdrawal fee of the Bibox exchange is reasonable. At the moment, the network fee of bitcoin Is 0.000266 BTC. Finance experts suggest it can go down in the next few years.

Bibox Trading Bot

If you follow a generalized protocol in the crypto world, then you are most likely not going to get very far. To get the best profit you need to come up with your own strategy. This is where the Bibox trading bot helps you. It’s an AI-powered bot that lets you customize your own strategies and ideas so that you get ahead of everyone in the market. 

If you are a risk-taker then Bibox is just for you. Its grid trading is perfect for markets that fluctuate a lot. You can use it to automatically buy and sell stuff. You don’t have to check your assets every millisecond like a mad man. You can also try out the coin swap grid for more popular currencies like bitcoin. 

If you want stable profits, then you can give the infinite grid tool a try. There is also an ultimate investing tool that can give you results that even professional investors would be jealous of. Last but not least is cross-market arbitrage. You can easily accumulate your profit without banging your head against a wall. 

Smart Investment Tab

Defi currency has blown up over the years. Big investors and business tycoons are talking about how they are going to take over the market. People are now aware of how they can earn interest from their holdings in an exchange. The idea of putting your valuable assets in exchange without any benefits or profits is just absurd. 

The holdings should be a great source of passive income. Sadly, there aren’t many exchanges that have this feature. Thankfully, the Bibox exchange gives you amazing interests and returns on your holdings. Why they give it you ask? Well, you are providing the asset that they need to run their platform. For their support, you are getting a percent for your holding.

For Athena, you can get up to 24 percent annualized returns. The number is much higher when it comes to other assets or coins.

Easy to Setup

Crypto exchange loses most of its appeal due to its intricate system. There are exchanges out there that take quite some time to set it up. On top of that, opening an account is complicated. 

But that is not the case for the Bibox exchange. You can create your account with a minimum amount of personal information. People have doubts about the security of the Bibox exchange. Yes, indeed, the security is not up to mark. But it allows you to create your own API and secret keys. These keys are enough to safeguard your assets.

So how do you create the keys? It’s pretty straightforward. After creating your account, you have to log in. Then visit the account information page. There you will notice an option to create a new API key. Click on it.

After labeling it, you will be requested to match the permissions given by the Bibox authority. Then you can go to Bitsgap and put your newly created keys and voila. You can exchange currencies without any interruptions. 

Mobile Support: 

Well, this is not a significant feature so we decided to put it at last. But don’t get the wrong idea. Bibox’s IOS and the android app have made trading easy. You can travel from place to place while monitoring your assets and coins. The apps are smooth and don’t have any lag. You don’t need to stay glued to your laptop all day. Apart from its mobile app, Bibox is compatible with most desktop operating systems.

Amazing Customer Service

The whole user experience of the Bibox exchange is phenomenal. There is no way you are going to face any problems along the way. Even if you do, the customer service is alert 24/7 at your disposal. They will give professional solutions to all your problems.

The main issue with foreign customer services is that the employees don’t speak good English. Therefore, it is hard to figure out what they are trying to say. The people in the Bibox exchange speaks fantastic English. That’s why you can always trust them.

Bibox Exchange Review

photo -Austin Distel

Review Summary

Pros:

We already talked so much about the features that you must have quite an understanding of why the Bibox exchange is so ahead of time. Here are some quick pros for you if you are running out of time. 

  • Completely free to use
  • Encryption technology to protect the assets
  • Multilingual
  • Clean user interface
  • Cheap transaction fees
  • Fast transaction rates
  • Live chat for 24/7 customer service
  • More than 150 crypto coins
  • Bibox bot to come up with customized strategies

Cons: 

It has just been a couple of years since Bibox was launched. Therefore, there are some aspects of the Bibox exchange that needs some burnishing. We are hopeful that they will work on it to make the platform much more functional.

  • No Fiat Currencies: This is not a major problem as most crypto exchanges don’t offer fiat currencies. But this is something that Bibox developers should work on. There are certain scenarios when the users need fiat currencies rather than cryptocurrencies. 
  • Questionable Security: Well, the security of Bibox is not up to par. Yes, it does offer encryption technologies but that isn’t enough. The platform doesn’t verify its users properly. Most of the time they don’t require a KYC. Moreover, you can’t even whitelist withdrawal addresses. This can be a big problem as you need to validate if your transaction was successful or not. 

Yes. Indeed, Bibox has never been breached or hacked. But is this statement enough to justify its poor authorization system? We will let you decide. 

  • Obscurities Regarding assets: This is a bizarre thing. When you log in to your Bibox account, you will see that there are thousands of tokens enlisted but when you click on a particular one it says they are unavailable. If it’s not listed, why show them in the first place?
  • Chinese Company: We can’t ignore the fact that the Bibox exchange is a Chinese company. If you have the slightest idea about the Chinese authority you will know that they always govern their platform. Therefore, a risk of government-issued regulation charge always lies with Bibox.

FAQ:

Why Should I Choose Bibox Exchange?

Bibox exchange looks like a typical modern-day crypto exchange at first but we can assure you it’s not. Sure, it’s a new company and the security is still in its developmental phase. But you have to look past the clouds to see the sun. Bibox exchange can be your one-stop platform for everything crypto-related. It offers mind-blowing interests and rewards. The fees are cheap and the user interface is to die for. Even beginners can try it out. That’s why you should not feel ambiguous about the Bibox exchange. 

Who are the Partners and Affiliates of Bibox Exchange?

The integrity of the Bibox exchange is being recognized by investors around the world. Therefore, in the year 2019, Bibox exchange received a huge equity investment from many leading investment companies. This venture solidified their status as frontrunners in the crypto realm. 

On top of this success, traditional banks such as Bank Frick, Elliptic, and Ernst & Young have collaborated with Bibox exchange to give their users a much better experience. This has opened the key to a new door. The dream of purchasing crypto with fiat currencies can come true. Collaboration with these traditional organizations can convince others too. Together, the Bibox exchange can reach the objective of worldwide decentralized trading. 

How To Withdraw From the Bibox Exchange?

Often people complain that when they withdraw, the amount goes to the wrong address. That happens quite frequently with other exchanges but not Bibox. Withdrawing from Bibox exchange is easy. Just go to the total asset page and simply click on the withdrawal icon. After inputting your method of choice, address and amount, click on withdraw and that’s it. It wasn't so hard. Was it?

Final Thoughts:

Bibox offers everything that a crypto enthusiast looks for. Its trading bot, market view, and mobile app make investor's life a lot easier. As cryptocurrencies are getting more and more mainstream, platforms like Bibox are getting the exposure that they deserved. Soon, our hands will not remain shackled by the rules of traditional banks and governments. Bibox exchange will give the freedom to the users to explore the world of cryptocurrency.

You can also read- Guarda Wallet Review

Written by adminbitkch

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