Bingbon, a cryptocurrency-focused derivatives exchange, has increased its daily trading volume to almost billion dollars. According to CoinMarketCap data, the exchange achieves a trade volume of $ 900 million within 24 hours.
Bingbon, a derivatives exchange, was established in Singapore in 2018.
Tens of parities can be processed
Bingbon using Banxa and MoonPay infrastructure; It provides the opportunity to trade in fiat currencies such as AUD, GBP, EUR, USD, CAD, RUB, CZK, DKK, NOK, PLN, SEK.
Users can send Bitcoin, Ether, USDT or USDC directly to the exchange before opening a position; They can convert BTC, ETH and USDC to different coins.
When entering the Trade section, transactions can be made with BTC, ETH, XRP, LINK, LTC, BCH, EOS, TRX, BSV, ADA, XTZ, DOT, UNI, FIL and AAVE using USDT parity.
Cross margin or isolated margin options can be preferred when performing derivative transactions. In addition to USDT margined contracts, coin-margined contracts can be opened and assets such as Bitcoin and Ether can be used as underlying assets. It is possible to use features such as Take Profit and Stop Loss during the transaction.
8% share of profits with copy trading
Using the “Copy trade” feature, Bingbon users can put positions opened by popular traders into their own accounts.
These trades come with great risk because failure of the duplicated trading strategy can result in a loss of money. On the other hand, copy trading is thought to offer the opportunity to learn about the market for novice traders who have just started trading derivatives.
Investors can determine an investment strategy that appeals to them on this page. Using filtering options, it is possible to find long or short term, high or low risk, high frequency or low frequency strategies.
The names that have achieved success with their investment strategies can find their place among the most recommended names on the copy trading page. The success of a trader; How much he earned is measured by looking at his personal profile and geographic area.
Successful traders can gain popularity with the trades they open and get an 8% share of the earnings of followers using their own strategy. Well-known names of the domestic and foreign cryptocurrency community such as Nebraskan Gooner and Altcoin Rookie are among the names using the exchange.
Is it safe to trade with Bingbon?
Established in Singapore, the exchange has a team working in countries such as Taiwan, Vietnam, Japan, South Korea, and Russia. Bingbon executives have taken several different steps in order to serve globally.
The company, registered in Australia, has managed to obtain a license for cryptocurrency trading from Estonia. In addition, Bingbon has a license from FinCEN in the USA, similar to stock exchanges such as Huobi, OKEx, Binance, Bittrex.
The company, which continues to work in terms of security, has not been hacked since the day it was founded, according to a statement made by the marketing manager. Investors can use two-step verification (2FA) technology to protect their personal accounts.
Transaction limits and fees
Bingbon, like many other exchanges, offers two different types of limits to its users who have verified and unverified their identity. For users who have not completed their KYC:
- USDT: Daily limit 10,000; maximum cumulative limit 40,000
- BTC: Daily limit 1; maximum cumulative limit is 4,
- ETH: Daily limit 50; The maximum cumulative limit 200 format is applied.
Users who have verified their identity using their ID card, driver’s license or passport can perform transactions over the following limits:
- USDT: Daily limit 1000,000; single transaction limit is 100,000, there is no maximum cumulative limit
- BTC: Daily limit is 5; single transaction limit 2, no maximum cumulative limit
- ETH: Daily limit 400; single transaction limit is 150, there is no maximum cumulative limit.
Taker transaction fee for perpetual swap transactions is 0.075%; The maker transaction fee was determined as 0.045%.
Bonus program for new users
Bingbon announced that it has developed a special bonus system for its new users as of January 18, 2021. Details of the bonus system with three pillars are as follows:
- FIRST SYSTEM: Deposit at least 200 USDT, generate 20,000 USDT volume (Volume = Margin * Leverage), earn 10 USDT bonus (up to 10 times leverage)
- SECOND SYSTEM: Generate a volume of 80,000 USDT (Volume = Margin * Leverage), earn 30 USDT bonus (up to 10 times leverage),
- THIRD SYSTEM: Generate 200,000 USDT volume (Volume = Margin * Leverage), get 80 USDT bonus (up to 10x leverage).
The amount of USDTs (10, 30 and 80) given as a bonus represents the margin value of the bonus. Users new to Bingbon can use these bonuses for 14 days. The company provides services both on its website and on its mobile application.