Bibox is an exchange for cryptocurrencies and a platform offering users decentralized financial services. Bibox Exchange was launched in 2017 as a platform that provides many features, services, and functionalities to individuals in the crypto trading market. It was launched out of Singapore, and since its initial operations, the cryptocurrency exchange has grown significantly and offers impressive liquidity pools for various assets. Due to its base of operations, the exchange’s user base appears to be Asian. Bibox supports dozens of crypto assets and coins that users can trade at competitive rates.
Bibox has also paid attention to making a highly responsive and user-friendly platform integrated with different AI-based modules and other advanced margin trading features. This mix of surplus and useful functionalities is Bibox’s strongest suit. However, to know more about this platform, read this Bibox exchange review thoroughly.
Bibox Exchange Summary
| Official Website | https://www.bibox.com/ |
| Headquarters | Singapore |
| Found in | 2017 |
| Native Token | Yes |
| Listed Cryptocurrency | 150+ |
| Trading Pairs | 250+ |
| Supported Fiat Currencies | None |
| Supported Countries | Most of all |
| Minimum Deposit | Depends on Cryptocurrency |
| Deposit Fees | Free |
| Transaction Fees | Maker – 0.1%, Taker – 0.2% |
| Withdrawal Fees | Depends on Cryptocurrency |
| Application | Yes |
| Customer Support | Help Center, Social media, & Submit ticket Support |
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What Is Bibox?
Bibox is a cryptocurrency exchange that offers a platform with various features and services in the domain of DeFi (decentralized finance). The exchange is decentralized in nature, and thus, the governing lies in the hands of users while individuals are in control of their crypto assets. The exchange has been operating since 2017 and is based out of Singapore.
It supports a diverse and large range of crypto assets and cryptocurrencies. The exchange also has its own token or Bibox token, through which the transactions can be rendered more profitable in certain scenarios.
Bibox enables its users to perform crypto exchanges, depositing or withdrawing assets, earning through crypto-backed loans, and digital mining. The platform has focused its resources on crafting a smooth and seamless user experience that brings countless features to the users’ disposal. In order to help beginners, there are various provisions where individuals can learn about the financial industry that is based on blockchain and crypto trading.
How Does Bibox Work?
Bibox, as a company, aims to provide a platform for trading cryptocurrencies, earning through crypto, and other services for decentralized financing. These features come with a small charge, while the transactions that occur through the cryptocurrency exchange are subject to a trading fee. These form the primary sources of revenues for the trading platform.
The user experience is highly polished, and each of the functionalities is designed to enhance the simplicity and intuitiveness of the process. With various trading views and data representations, working on Bibox has become encouraging and inviting.
Additionally, features like the best crypto trading bots, through automated bots protocol for various purposes, the exchange has built a platform that requires minimal manual input.
The company’s other services that provide solutions include a cloud, grid and copy trading, a network for swapping altcoins, etc. These features make Bibox stand out from other cryptocurrency exchanges and platforms, while this particular composition can be considered truly unique and unparalleled.
Features of Bibox
Bibox has some of the latest and uncommon features as a Germany crypto exchange and trading platform. The platform offers various trading views to suit the specific needs of investors with an adaptable application interface. The cryptocurrency exchange allows the users to trade over 150 coins and more than 250 trading pairs through its platform.
Bibox was thoughtfully designed to handle a user throughput of up to 10 million that comes as a result of its highly efficient memory matching system. Paying due importance to security, the platform has undertaken various safety measures to protect the users or exchange from any loss or compromise.
The list of safety measures includes:-
- A 2FA (two-factor authentication) method.
- SSL encryption.
- Other robust architectural guard nets.
Interested parties can also apply for listing through the platform, make use of the ‘Super VIP’ premiums, or even open institutional accounts with Bibox. The cryptocurrency exchange also has various ongoing online contests and events with enticing rewards.
Is Bibox Regulated?
Bibox is a decentralized cryptocurrency exchange. This implies that any centralized authority does not regulate it, and the governing is done by the platform’s users. Bibox claims to comply with the local regulations and laws of the geographic regions where it operates and offers its services to cryptocurrency enthusiasts.
Being self-regulated, the platform does have more transparency and no ulterior motive, but it does imply the lack of a single unit to reach out to. Decentralized crypto exchanges have been gaining popularity and an extra edge over the respective platforms that are centralized for obvious reasons. DeFi platforms also tend to be less stringent with the verification processes.
Since Bibox is not regulated and decentralized, the users do not need to undergo a thorough check and procedure; individuals can begin Bibox trading right away and complete the remaining checks at a later stage.
Services and Products Offered by Bibox
Unlike other crypto exchanges, Bibox has been consistently making waves in the world of decentralized finances (DeFi) through the periodic addition of various services and products to enable individuals to manage their digital assets more efficiently and undertake every task on the same platform.
The website supports a huge array of services and products that include the following:-
Fixed Investments
These investments are aimed at the investors who seek to buy and hold assets for long periods and are not largely affected by the market fluctuations in the short term.
DeFi Mining
Catering to the users who want to get profits out of the platform, there is a service through which the individuals can make money by mining for the platform and offering computer power for the various processes of the chain.
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Swap for Crypto Assets
As per our review, there are two primary networks available on the platform through which the individuals can swap their crypto assets and have them yield high returns, which quick turnarounds.
Recommendations and Academy
The automated nature of the platform ensures that the users can be recommended on the basis of their personal crypto holdings. There is also a digital module through which the new investors can learn the basics of trading and what is to be kept in mind.
Provision to Open Institutional Accounts
Bibox also has a service with which institutional accounts can be opened, which comes with the security advantages and protocols of the platform. These accounts have about a dozen very useful and cutting-edge features, such as first-hand industry information, exclusive transactional butler, increased withdrawal privileges, etc. The rest of the services can be availed through the company’s website, where the individuals can also use them right away.
Bibox Exchange Review: Pros and Cons
| Pros | Cons |
| Bibox is one of the best decentralized cryptocurrency exchanges, and individuals can begin trading right away without a cumbersome verification process. | The lack of a centralized authority can be detrimental to the platform if the users are not very active. |
| Bibox charges a low transactional fee from its users, which is competitive across the industry. | At Bibox, the users can only deposit cryptocurrencies, and the paying methods do not accept any form of fiat deposit. |
| With over 250 trading pairs and 150 altcoins, the users have a large variety to choose from. | Some users have experienced issues while withdrawing funds. |
| The exchange has a plethora of services that maintain a high standard of security. | The claimed size of the liquidity pools has been a topic of debate for the company on several occasions, with the impression that the numbers are projected higher than actuality. |
Bibox Account Sign Up Process
The individuals do not need to go through an extensive process to start trading with the platform, thanks to the exchange being decentralized. New users can sign up on the platform using their phone number or email address. Post the completion of sign-up, users would need to log into the platform and connect their best crypto wallets. One thing to remember would be that the platform does not have its own dedicated wallets, and thus, beginners shall need a pre-existing wallet with crypto before Bibox can be used for trading.
Bibox Fees
Bibox is known to have some of the most competitive trading or transactional fees across the industry,thus withdrawal fee is charged, which is a limitation compared to some of the other locally aimed platforms. Bibox charges different fees from makers and takers, where makers are the individuals that add to the liquidity pools, and takers withdraw from it. The platform does offer a rebate system where the users who invite new individuals to the platform can get rebates on the Bibox trading fees in the form of referral rewards.
While making this Bibox exchange review we notice that the users who wish to make Bibox their primary platform for bulk trading can get the premium VIP membership from the exchange. This VIP access not only brings an additional set of advanced trading features but also provides low trading fees. As the volume increases, the rates get high discounts from the exchange, thereby serving as a big incentive for heavy traders. The difference in the fees charged from a regular to a pro user is substantial. To get complete details about its fee schedule visit its official site.
Are There Any Transfer Limits at Bibox?
While each of the transactions might be associated with a fee on the platform, there are limits on the funds that can be transferred under a given amount of time. As per the Bibox exchange review, for instance, the withdrawal limit on a daily basis is 20 BTC. However, this daily limit only becomes available after completing the entire process of verification on the platform and does not apply to the users who have not filled out their entire credentials.
Prior to completing this verification process, the users of the platform can only withdraw up to 2 BTC to their crypto wallets. According to the company’s website, there seems to be no limit on the other forms of transfers with regards to trading. However, the trading volume does affect the users’ level at the exchange that comes with its own perks.
Bibox Deposit and Withdrawal Method
The deposits and withdrawals on the Bibox can only be made in the form of crypto assets as no fiat currency is supported on the platform. The users would have to own crypto assets already and have them stored in their digital wallets before using Bibox. There is also a withdrawal limit on the number of crypto assets, and this limit can be increased after completing a thorough verification process.
Individuals can log in to their accounts with the exchange, select the Deposit/ Withdrawal button, enter the amount of currency to be deposited or withdrawn, and confirm the transaction.
Bibox Accepted Payment Method
As aforementioned, only cryptocurrencies can be deposited or withdrawn with the Bibox exchange, and thus, the payment methods are not yet supported. The fiat currencies are not yet a support mode of payment. This might be considered a huge limitation of the platform for users who frequently interchange their assets with fiat currencies.
Bibox Supported Countries and Currencies
Bibox only supports cryptocurrencies. This implies users cannot buy cryptocurrency on the exchange through fiat currencies. On the other hand, the list of supported cryptocurrencies is massive. Over 150 elite altcoins of the crypto marketplace are available on the platform. The list of Bibox trading pairs is just as impressive, with over 250 options for investors and traders to pick from.
The tale of supported countries is entirely different. The platform has been doing a good job of complying with most of the regions it is available in. Still, due to a lack of adequate infrastructure, the exchange is not available or supported in all locations around the world. The users can visit the website, log in to the platform and check if Bibox is supported in their geographic region or not.
Bibox Exchange Platform
The platform provided by Bibox is one of the easiest and lucrative platforms available in the market. With various trading views, seamless navigation, and an attractive design, the platform believes in the philosophy of “what is seen sells.”
As per the online reviews and our research we can say that Bibox provides a significantly long list of assets that can be traded through the platform. These include altcoins and assets, such as Litecoin, Ripple, Bitcoin, USDT, DIA, EOS, DOT, Bitcoin Cash, etc. The platform is available as the website or a dedicated mobile application for both Android and iOS devices through their respective mobile app stores. It can be rightfully quoted that the exchange platform inspires individuals to use it frequently as per their desires due to its responsiveness.
Bibox Mobile App
Providing a multi-faceted approach for the usability of their platform, Bibox has made mobile applications available for its platform for both iOS and Android mobile devices. The navigation and experience of the mobile application are just as user-friendly as the website, of course, with the added convenience of a portable mobile device. Mobile apps are also beneficial for the users who have connected 2FA with their phones as then the process can be achieved through a single device. However, network stability must be considered while relying solely on a mobile trading device.
Bibox Exchange Security and Privacy
According to our Bibox exchange review and research, we can say that Bibox has been able to stay safe from any cyber attacks or invasions in the years since its inception. This can be a result of all the safety measures that are taken by the exchange. The security features include multi-factor authentication methods, an SSL encryption standard, and other industry practices. The team behind the platform has an extensive background in the blockchain and cyber safety domains.
Bibox Customer Support
The customer support team of this safest crypto exchange, Bibox can be reached through multiple digital mediums as per many online reviews and our research. The support team works round the clock to resolve any customer issue. One thing to remember is that the customer support team has been unable to clear some matters in the past due to the change of the authenticator method, as suggested by the online reviews. Despite this singled-out instance, the support team keeps a reputation for prompt, helpful, and forthcoming customer service.
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Bibox Exchange Review: Conclusion
Bibox is an exchange that offers something to every user, with a premium user interface experience and a plethora of services as the prime offering. Features like automated bots, copy trading, and decentralized control put it among the leading platforms that provide advanced trading mechanisms with very simple functionality and usage of the platform.
FAQs
Is Bibox Safe?
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Bibox is yet to be compromised from any cyber threat. The exchange has a clean track record, and the incorporated safety methods are at par with the industry standard. Users are also advised to consider the safety of their respective wallets to stay safe from losses.
Is Bibox Available in the USA?
Yes, Bibox exchange is available in the USA and can be used for trading.
Where Is Bibox Located?
Bibox operates from Singapore.
How Do I Use Bibox?
The users who wish to use the platform need to sign up with the exchange and connect their respective crypto wallets to start trading.
How Much Will It Cost Me to Use Bibox?
The platform charges different fees for different services, and these fees can be discounted as per the trading volume or referrals. The detailed rate card can be found on the exchange website.