Binbex exchange is a relatively new cryptocurrency exchange that launched in 2018. It aims to provide a secure and easy-to-use platform for trading major cryptocurrencies like Bitcoin, Ethereum, and Litecoin. Binbex exchange is based in Estonia and is operated by Binbex exchange OÜ.
Key Features of Binbex Exchange
Some of the key features that Binbex offers include:
A Variety of Coins and Tokens
Binbex exchange allows users to trade many popular cryptocurrencies including BTC, ETH, LTC, XRP, EOS, XLM, TRX as well as various ERC-20 tokens. The exchange plans to continue adding support for more coins over time. This gives users a lot of flexibility in terms of what cryptos they want to trade.
Easy Verification and Deposits
Getting verified on Binbex is straightforward, requiring just an email address, phone number, and photo ID. Users can deposit cryptocurrency or fiat using common options like bank transfers and credit cards.
Secure Trading Platform
Binbex exchange utilizes an advanced multi-tier and multi-cluster system architecture. It also offers 2-factor authentication for account security. All crypto assets held by the binbex exchange are stored in cold storage for safety.
Binbex exchange aims to offer low trading fees compared to some other popular exchanges. Their typical fee is 0.1% per trade. Withdrawal fees vary by cryptocurrency, but are competitive overall.
Beginner Friendly with 24/7 Customer Support
The binbex exchange has a simple and easy-to-use interface. It also provides responsive 24/7 customer support via email and live chat. This makes it suitable for both new and experienced traders.
Pros and Cons of Using Binbex Exchange
- Simple trading interface
- Low trading and withdrawal fees Consider factors like trading experience, products offered (currencies, CFDs, stocks and commodities), fees charged and customer service as key criteria when making your selection.
- Allows fiat deposits
- 24/7 customer support
- Limited payment methods
- Low liquidity for some trading pairs
- Does not support margin trading or derivatives
How to Trade Cryptocurrency on Binbex Exchange
Trading crypto assets on Binbex consists of three basic steps:
1. Sign Up and Verify your Account
Registering takes just a couple minutes. Be sure to secure your account using 2FA for best security practices.
2. Deposit Funds
Use your bank account, credit card or crypto wallet to fund your Binbex account. Supported coins include BTC, ETH, XRP, USDT, EUR and more.
3. Start Trading
Navigate to the Markets section to view all available trading pairs. Use basic or advanced trades to buy and sell cryptos and track your portfolio performance.
Customer Support and Contact Information
As a smaller exchange, Binbex provides responsive 24/7 customer support via:
Email: [email protected]
Live Chat: Available onsite
They also maintain an active presence on Twitter and Telegram for announcements, updates, etc, so users should follow their social media.
Overall Binbex exchange offers an easy way for everyone from beginners to everyday traders to access the growing cryptocurrency market. While it lacks some bells and whistles of larger exchanges, it makes up for it with good security, low fees, and helpful support.