|Founded||June 1, 2018|
|Brief||When it comes to reaching the best crypto trading deal, it really does matter where you trade, as different crypto exchanges offer different environments.|
|Last updated:||Tuesday, October 29, 2019 3:00:03PM UTC|
|Volume 24 hours, USD:||1 851 309 394|
|Volume 7 days, USD:||14 595 105 805|
|Volume 30 days, USD:||35 094 748 032|
General BKEX facts, technical details and general information about BKEX exchange
When it comes to reaching the best crypto trading deal, it really does matter where you trade, as different crypto exchanges offer different environments. Depending on the exchange, you might enjoy certain benefits, such as lower fees, greater security, and different numbers of listed assets.
With that in mind, we have decided to review an exchange known as BKEX, and see what it is that it has to offer.
BKEX is a cryptocurrency exchange headquartered in the British Virgin Islands. Of course, with digital currencies being borderless, the location doesn't really matter. All that matters is whether or not the exchange is in a crypto-friendly region, and when it comes to BKEX, we can certainly say that this one is.
The exchange's platform is available in two different languages — English, and simplified Chinese. Thanks to this, pretty much the entire world can use this exchange with ease, indicating that they are targeting a larger user base. This is also confirmed by the fact that the exchange offers support for quite a few cryptocurrencies, which is always an advantage, and especially now, when the prices are rising once more, and investors are not scared of diversifying their portfolios.
Another big advantage of BKEX comes from the fact that the exchange offers trading with leverage. With margin trading becoming increasingly popular among those who are not afraid to take risks — leveraged trading can be quite beneficial.
However, the exchange does have a few limitations, such as the regions that may and may not trade on its platform. US investors, for example, are not allowed to use the platform due to the legal issues.
As for fees, BKEX offers a pretty good deal, with a flat trading fee of 0.10%, which is below average. Most other exchanges have fees that are significantly higher, ranging from 0.20% to 0.25%. The withdrawal fee, however, is the industry's average, sitting at 0.0008 BTC. There are no deposit fees for this exchange, which is also not unusual, but a welcome sight, as there are exchanges that would charge you for depositing money, as well.
However, there is another drawback, which revolves around the fact that BKEX does not work with fiat currencies. While it does have over 90 trading pairs, none of them is against USD, EUR, or any other traditional currency. However, it does offer Bitcoin, Ethereum, and Tether, all of which can be exchanged for traditional currencies on crypto-to-fiat exchanges. So, while BKEX is not an entry-level exchange, it is still pretty good when it comes to crypto-to-crypto trading.
Finally, there is the matter of security. While BKEX did not suffer any hacking attacks or large incidents as far as it is known, the security of the exchange could still use some work. Adding Two-Factor Authentication, for example, could go a long way.
BKEX is a pretty good crypto exchange that offers a great many trading pairs and coins available for purchase. Its trading fees are mostly lower than the industry's standard, the platform is easy to use, and it features margin trading. However, it could work on improving its security, and the fact that it doesn't work with fiat currencies does not even make it an option for crypto enthusiasts who are just starting out. Also, it is not available for the US-based traders due to the lack of regulations in the US, which could cause the exchange to get in trouble with the SEC if it allowed Americans to trade on its platform.
|BKEX volume change 24 hours||-40.26%|