BiKi Exchange Review 2023

This content has been archived. It may no longer be relevant.

IMPORTANT UPDATE: BiKi platform has decided to cease its operations from November 30, 2021, due to “regulatory policy requirements.”

You can check the BiKi platform’s closing announcement and settlement process in the screenshot below.

Accordingly, we have marked the platform as “closed.”

To find a reliable crypto exchange where you can start an account, check our most secure and best crypto exchanges list, and we’ll help you to find the right platform.

Overview

Cryptocurrency trading is considered to be quite profitable owing to high liquidity. While there are several crypto assets exchange platforms, only a few are reliable. Biki cryptocurrency exchange is one such trading platform headquartered in Singapore. And this trading platform supports over 470 cryptocurrencies and 515 trading pairs.

Advertisement

Since its official opening in 2018, BiKi Exchange has garnered 3.5 million registered users. With over 1 million community members and 80000 daily active users, BiKi is a genuinely global cryptocurrency exchange. This BiKi review will analyze what makes it the safest, most stable, and legit digital assets trading platform globally.

What is Biki Exchange?

BiKi is headquartered in Singapore. The BiKi website is a centralized Bitcoin exchange and digital assets platform. As per our findings in this BiKi exchange review, it is one of the most stable exchanges. The trading platform received investments from FBG Capital, ChainUP, and Huobi co-founder Du Jun.

BiKi’s main competitors and alternatives include Neo, Coinsbank, Hummingbird, to name a few. BiKi is a complete and all-inclusive exchange equipped with advanced tools and suits the trading requirements of both new and experienced users.

Salient Features of Biki

English is the default language with multiple language support on the website. BIKI is the native currency of the exchange. Issued by the BiKi platform, these tokens are imperative to maintain the exchange’s rights and interests. One of the unique features is that 100% of the transaction fee is used to buy back and burn the BiKi token. BiKi will continue this process until only 100 million tokens are in supply, opposed to the initial 1 billion BiKi platform token produced.

Some of the other features of BiKi include an intuitive user interface, an exclusive mobile trading app, and other advanced elements that make it a legit crypto exchange.

Collaboration with TradingView

BiKi trading website features a customizable price chart provided by tradingview. Thus, allowing users access to advanced indicators and trading tools. In other words, the site features customizable price charts for effective risk management. The easy-to-use order book will enable traders to choose between market order and simple price limit to ensure a better user experience. The price charts are typically derived after extensive fundamental and technical analysis.

Perpetual and Hybrid Contracts

BiKi is ideal for high leveraged trading as well as margin trades. Perpetual contracts for speculating price movements of popular cryptocurrencies like BTC, ETH, XRP, EOS, etc., are also on offer. The maximum leverage for ETH/USDT is set to100x influence while it is 125x for BTC/USDT. For other perpetual contracts, the maximum leverage is 50x.

BiKi platform also offers hybrid contracts allowing traders to use cryptocurrencies for margin trading. Thus, hybrid contracts provide a trading advantage without converting while choosing the tokens for trading on the exchange.

BiKi Exchange Review: Pros and Cons

Account Opening Process

Opening a BiKi account is imperative to start trading on the platform. The visitor can either use their email address or mobile number for registration.

One can even get started with crypto trading but without the need to fulfilling the KYC requirements. After successful registration, users can log in to their account using their registered mobile number or email address.

Payment Methods

BiKi trading platform supports multiple payment options, right from traditional bank transfers to credit card deposits. However, the users must convert the fiat currency to one of the exchange-supported cryptocurrencies. Another important aspect is that apart from the withdrawal and trading fees, no other transaction fees are involved.

Deposit Methods

The platform supports USDT deposit on the deposit protocol. It also offers three ways to make a deposit, that is USDT, EUSDT, and TUSDT. The platform does not charge any fee for deposits made. However, other transactional fees for BiKi withdrawals and trading fees apply. Readers are also advised to note that the BiKi cryptocurrency exchange supports a plethora of deposit methods. However, it does not support fiat currency deposits and withdrawals.

Withdrawal Methods

While there are no fees for making a deposit, standard BiKi withdrawal fees apply and, when compared to other platforms, are pretty high. Also, the withdrawal fees vary based on the currency involved.

BiKi Exchange Fees

Deposit and Withdrawal Fees

BiKi exchange reviews mention that the platform does not charge any deposit fee. The withdrawal fees vary as per the withdrawal amount and the type of currency involved. For instance, the minimum withdrawal limit for Litecoin is 0.1LTC, and the withdrawal fees per trade are 0.1LTC.

Trading Fees

Compared to most exchanges, the trading fees are a little on the higher side. Yet again, the transaction fees vary as per the trade size. Nevertheless, the BiKicoin trading platform does not charge a trading fee when trading the following pairs: ETH/USDT, BTC/USDT, ETH/BTC, and BIKI/USDT.

Fees Processing Time

The processing time varies for both deposits and withdrawals. BiKi is well-known for its top-notch security features. And, with this regard, whenever the user makes a deposit, a certain number of block confirmations are required before the amount reflects in the user’s account. The amount deposited may take anywhere between 10 minutes to 4 hours for the verification process.

The processing time for withdrawals is typically under 45 minutes but may vary based on the withdrawal amount requested. Withdrawal processing time may also differ based on the currency chosen. For more information, one may refer to the deposit and withdrawal terms and conditions for specific currencies supported by BiKi.

Details of Biki Token

The token issued by BiKi is termed BiKicoin or BIKI. Readers are advised to note that the initial total of 1 Billion BIKI will be reduced to only 100 million. And, this would be due to the platform’s continuous repurchase and destruction of the token. For the same reason, 100% of the transaction fee is used to buy back and burn the BiKi token.

BiKi Trading Pairs

As stated earlier in this BiKi review, BiKi is one of the few cryptocurrency exchanges that support over 500 crypto pairs. Some of the crypto coins actively traded on the platform include Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH), Ripple (XRP), etc.

BiKi Exchange Leverage

Position-by-position leverage enabled by the BiKi platform is aimed to minimize losses and maximize profits. BiKi supports up to 3x leverage for position-to-position leverage trading. The site also allows maximum leverage of up to 50x for perpetual contracts. And, this is quite a competitive number enabling trading flexibility, making it ideal for both new traders and experienced traders.

BiKi Leverage Supported Currencies

BiKi offers up to 3x leverage for the following cryptocurrencies;

BiKi Leveraged ETFs

Leveraged ETF enables the crypto investor to determine the increase or decrease in the underlying value of a digital asset like BTC, ETH, etc.; traders typically earn profits with leveraged ETFs. One can find them in the innovation section and can be bought using USDT to earn benefits.

User Experience on BiKi Exchange

As stated earlier in this BiKi exchange review, designed for ease and convenience, the website is easy to navigate. The desktop browser and the BiKi Exchange app display simple price charts customized with any hassles. Safety and security are uncompromised, making BiKi one of the safest, most stable, and reliable exchanges globally. Both the mobile app and desktop version supports multiple languages apart from English, such as Chinese, Russian, Korean, Vietnamese, etc. Users can choose their preferred language from the options on the right-hand side of the web page.

BiKi Exchange Mobile App Experience

Like the web browser version, the BiKi mobile app is available in Chinese, English, and other languages. One can download it either from Google Play or the App Store for investing in digital currency and assets from their android or iOS smartphones. Customizable price charts for popular digital currency like BTC or a lesser-known digital currency like EOS are available on the app. And, based on plenty of user reviews, the app has garnered quite a popularity making it on the list of the fastest-growing cryptocurrency exchanges. The app also offers personalized investment advice based on one’s skill level.

Customer Support

The customer support team is available 24/7 via live chat. While English is the default language, customers can choose other languages like Chinese, Russian, etc. For concerns regarding various services offered, users can also reach them via email. BiKi also has a solid social media presence via Facebook, Twitter, to name a few. The platform posts all the latest news related to recent updates and changes on Twitter and other social media platforms.

BiKi Review: Final Thoughts

BiKi makes it into the list of the safest, most stable, and top crypto exchanges in the world. Headquartered in Singapore, BiKi is one place where most people can find many crypto coins to trade. Some of the crypto pairs traded include and are not limited to BTC, ETH, LTC, BNB, TRX, ADA, and EOS. The BiKi mobile app provides customizable price charts and advanced tools for digital trading assets. With over 3.5 million registered users, BiKi is one of the world’s safe and legit cryptocurrency exchanges.

FAQs

Is BiKi Exchange Regulated?

Yes. BiKi is a highly secure and regulated digital currency exchange headquartered in Singapore. It was launched in 2018, and although a relatively recent exchange, it has garnered quite a vast user base.

Is BiKi Exchange Safe?

BiKi is ideal for traders irrespective of their trading level or skill. It is a safe and secure exchange for individuals who would like to start trading or also for those who are experienced traders.

Where Is BiKi Exchange Located?

The main office of BiKi is located in Singapore. It was initially launched to cater to the Chinese markets. However, over the years, it has evolved as the exchange that investors and brokers can easily rely on for their cryptocurrency investments.

How Do You Buy From BiKi Exchange?

To buy and sell cryptos on the platform, one must complete the registration. KYC is not a requirement to carry out trades. However, BiKi requires users to verify their accounts for security reasons while withdrawing. To buy or sell cryptocurrencies, one must log in to their registered user account and select the ‘Buy with Card’ option under the Fiat section.

After this, the user must select the purchased quantity and the type of token followed by selecting the payment token. Readers are advised to note that authentication by a payment gateway is a must to buy or sell digital currencies on the platform.

Can You Use BiKi Exchange in the US?

As per the site’s condition and regulation, the site is restricted to US residents. Apart from the US, BiKi restricts those countries that consider cryptocurrencies illegal. For more information read BiKi’s terms and conditions for registration.