Now we have it, another wave of hate directed on cryptocurrencies from the Chinese. The result of that is more than tangible: BTC is down to $7K, along with the rest of the market. Does anyone need more evidence to get convinced that trading on Chinese exchanges like Bibox is more than a risky endeavor? No offense to the platform itself, it is functioning well and has really low fees, but their government is doing it a very bad service of scaring off all foreign traders.
Ninjinho February 19, 2020 Reply
Like any other cryptocurrency exchange, Bibox has its pros and cons. When it comes to pros, I would highlight the fact that this platform was developed by the people who also stood behind such well-known exchanges as OKCoin and Huobi Global. The trading experience is seamless and hassle-free. However, there had been some problems concerning deposits on Bibox. I was trying to deposit some ETH to my Bibox account, a seemingly easy process, though it had turned into a nightmare for me. After waiting idly for 24 hours for my ETH to arrive, I have contacted the support, but was put in a queue of 5000 people. In short, I saw the crypto in my account only a week later.
Moon Ticket February 15, 2020 Reply
I wonder how Bibox wants users like me to trust their exchange if they don't even fully disclose the identity of the platform's founders. Just take a look at Binance, for instance. Everyone knows Changpeng Zhao, who he is and what are his plans regarding the future development of the exchange. Could we say something like that about Bibox? Definitely not. However, judging from Bibox's good trading volume, people don't share my concerns, but they should be prepared to face the consequences.
Rusty Bob February 14, 2020 Reply
Chinese or not, Bibox has probably the lowest fees among all top exchanges in the industry. I am trading with a moderate amount of my own money, so fees play a very important role in my strategy. So, after giving it some consideration, I have registered on Bibox and began trading. No issues so far, and I am more than satisfied with what Bibox charges, even compared to the likes of Binance.
Need Munchies February 10, 2020 Reply
If you aren't trading significant amounts of crypto - for instance, if your trading balance doesn't exceed $20 thousand - then you would be a fool to ignore Bibox since it has a very favorable fee structure. After Binance had reduced its trading fee discount by 25%, cutting it down from 50% to 25%, I have moved a substantial part of my trading portfolio to Bibox. After a couple of months of trading, I can say that I am 95% satisfied.
Mike Mi11 February 9, 2020 Reply
I totally get why people are suspicious of Chinese crypto exchanges. It is not a matter of platforms, but rather the government that is vastly unpredictable and always make some ridiculous threats like banning Bitcoin or ousting the exchanges for good. That's too bad because some of these platforms, including Bibox are more than capable of providing an excellent trading experience and a sufficient level of protection.
Crusader December 16, 2019 Reply
I remember when Bibox was only about to be launched, the team promised that it would be super innovative trading vehicle with incorporated AI technology. In the result, Bibox turned out to be a total clone of Binance, both in terms of functionality and design. Even the daily withdrawal limit for unverified users is the same - 2 BTC. The only thing that’s good about Bibox is it’s slightly smaller withdrawal fee of 0.0004 BTC.
BitcoinMaximalist September 23, 2019 Reply
Usually, I don't trust Chinese exchanges, even if they offer really lucrative trading fees. The reason is that the authorities in that particular country are too unpredictable and can do a lot of damage to the crypto community, proven by the last ICO ban. They can shut down a crypto exchange, including Bibox, with a snap of a finger. And in that case, everyone can wave their hard-earned crypto assets goodbye. Decentralized exchanges are much safer in that regard, so I might consider Bibox only if they launch some sort of DEX.
BTC4ever September 19, 2019 Reply
I must say that from the technological standpoint, Bibox is probably one of the most advanced crypto exchanges since it is one of the few that had successfully incorporated AI into its operations. Furthermore, the platform also allows for seamless API integration with third-party trading services. The fee structure is clear and simple: a flat 0.1% makers/takers fee plus an opportunity to get a 50% discount when choosing to pay fees with the platform's native token BIX. All in all, I have been trading on Bibox for almost a year and haven't encountered any problems so far.
Powder!GoAway August 16, 2019 Reply
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