|Brief||BCEX is a Vancouver-based cryptocurrency exchange, established in 2017 by Biomass Exchange Co Ltd.|
|Last updated:||Wednesday, July 8, 2020 12:00:03AM UTC|
|Volume 24 hours, USD:||115 506|
General BCEX facts, technical details and general information about BCEX exchange
BCEX is a Vancouver-based cryptocurrency exchange, established in 2017 by Biomass Exchange Co Ltd. The BCEX official website doesn’t provide any detailed information about the obtainment of a license from a Canadian or any other financial regulator, or identity and legal status of platform’s founders, which some crypto traders might consider as a cause for concern.
On the exchange, one will find the markets for Bitcoin, Ethereum, USD Tether, and also for the currency named CKUSD, a poorly performing stablecoin that pegs its value to the US Dollar. CSUD is lying at the bottom of cryptocurrency rankings, currently holding the 1947th position on CoinMarketCap. These markets are comprised of more than 120 trading pairs. Plenty of the pairs include exotic coins, some of which could even be labeled as shady.
Thanks to the variety of cryptocurrencies and available pairs, BCEX showcases relatively high and steady trading volumes. The 24-hour volume usually exceeds half a billion USD, while the monthly one reaches $20 billion even at the times of a market downturn. Naturally, the most significant trading volumes occur on BTC and ETH markets.
Special mention should be given to the BCEX trading fees, which are different for the takers and the makers. The former will have 0.2% of the traded amount deducted in the form of the taker fee, while the latter will receive the profits in full since 0% fee applies. When it comes to the withdrawal fee, BCEX proves to be different from numerous similar exchanges because it applies the percentage-based commission, while other exchanges tend to only subtract a fixed amount of BTC during every withdrawal operation. In that regard, BCEX charges 0.5% withdrawal fee, which can be considered as a steep one, in comparison to crypto exchanges with a similar commission scheme.
BCEX doesn’t provide options for margin or derivatives trading, engaging in which carries significant financial risks for the inexperienced traders, but promises respectable profits for the seasoned ones. But the platform does offer registered users the opportunity to engage in the futures or Over-the-Counter trading, conducted in partnership with CoinBank, a fintech company that offers the allegedly safe Bitcoin wallet, and BFX, the crypto futures exchange established by BitFuture Group.
The novice users may find the exchange interface to be non-intuitive and slovenly designed, but the overall functionality is at the acceptable level. Unlike some exchanges, BCEX has no option for placing a stop-limit order, which is unfortunate since this order is hugely beneficial for the overall trading efficiency.
Lastly, BCEX is set to launch a proprietary decentralized cross-chain trading platform named BDEX, which will center its operations around Ethereum and EOS, as well as their hardforks. This supplementary exchange will feature a separate currency, BDE, labeled the universal token for the entire BDEX Global Trading Zone, a cross-chain ecosystem, developed by BCEX Global.
|BCEX volume change 24 hours||12.70%|
|Volume 24h, USD||Change 24h|
|Binance||4 025 147 068||-18.32%|
|TAGZ Exchange||3 485 560 734||11.50%|
|Huobi Global||3 020 982 256||-37.18%|
|OKEx||2 049 933 645||-28.87%|
|ZG.com||2 011 929 536||0.24%|
|BitMEX||1 486 450 221||33.70%|
|Bit-Z||1 415 915 760||-21.71%|
|EtherFlyer||1 403 189 961||-46.13%|
|HCoin||1 254 425 786||20.15%|
|Sistemkoin||1 029 499 388||3.33%|