BitForex, a worldwide cryptocurrency exchange, offers token trade and derivatives services.

It has more than 3,000,000 users from 200 countries. It was launched in 2017 and offers more than 300 trading pairs. The Republic of Seychelles is the place where the corporation is registered. It also serves as its headquarters.

BitForex also has offices in Estonia, Germany and Estonia. Jason Luo, CEO, co-founder, Garrett Jin (VP) and other individuals make up the executive team. The native token is the BitForex Token BF, an ERC20 token that allows the switching ecosystem to function. They also offer a referral program that allows clients to make money from referrals.

The company claims that the site’s deal engine can handle approximately 1.6 million orders per minute, which is a lot more than other cryptocurrency exchange websites. BitForex was the 11th largest 24-hour trading volume in the world, with a USD 315 million 24 hour transaction volume.

BitForex is a trading platform

BitForex provides a range of goods and services for account users. These include CApp Town and BF Sector, EazySwap and BitForex MT5. The Tiered Margin Ratio System on BitForex helps to prevent liquidation of noteworthy positions from having a significant impact on any account’s liquidity. It is more important for trade agreements that have less leverage. BitForex allows users the freedom to take leadership positions without putting money at risk. Users can deposit a portion of the transaction’s value and then give the rest.

This could result in a loss as investors who make such investments are constantly at risk of business failure.

Features

CApp Town

CApp Town is one of BitForex’s features that connects bitcoin account holders to various Blockchain apps. CApp Town is a platform that allows users to connect to different Blockchain apps. It includes finance (Matrixport and Paxful), entertainment, Twitch, and information (CoinGecko). Users can submit their own CApp application on their corporate website.

BF Sector

The BitForex sector or (BF) is the DeFi zone that can be accessed on the website. This section lists the DeFi tokens. If the user chooses to stake any of these tokens, they will be directed to the spot exchange by selecting a trading pair from the BitForex sector or (BF).

EazySwap

EazySwap is a decentralized token exchange system that uses the ERC20 protocol. EazySwap is a decentralized token exchange system that uses the ERC20 protocol. It offers over 980 ERC20 tokens for trade. There are also no gas expenses, slippage, and fast matching. The liquidity pool pays up to 100% of trading costs.

At the moment, the business website supports only ERC20 coins. However, mainnet token support is coming soon. EazySwap has fewer requirements for listing tokens than other DEXs.

Staking Ethereum 2.0

BitForex offers Ethereum 2.0 Staking, which allows users to stake Ethereum tokens. Users can trade or maintain staked Ethereum tokens at any time. Staking can be started as low as 0.01 ETH. BitForex will offer staking incentives as well as platform fees. The staked ETH will become ETH2, which can be traded immediately.

Products and Services

MetaTrader 5

BitForex account holders can trade traditional financial products, as well as other opportunities and offers, using the MetaTrader platform (MT5). This product is offered to improve the economic climate in the BTC sector. BTC, ETH and USDT are the base currencies for an account in MT5. The charges are negligible.

Social Trading

Social trading, also known by copy trading, links each user’s portfolio with the portfolios of others. This option is available to traders who have a BitForex trading account.

BitForex API

Their Quote API uses Get Mode while other APIs use Post Mode. For API queries that are not made via APIs, the following information must be provided: method request/access server addresses and API access credentials. Request time must also be included. SignData is required. Spot’s API supports a wide range of data types, including ticker and depth, cancel an orders, symbol, and others.

BitForex Turbo

Many IEO projects have not had any financial benefits in recent years. This site offers a great opportunity for IEO projects in the future, even though there is no expansion in this sector. BitForex Turbo is a listing platform for high-end IEO listings across the globe. Users can also check trade pairs, the overall cost, start and finish times, and other details.

Spot

Spot trading’s interface is very simple. The price chart is located in the middle, while the order book is to the right. The options for asset purchase and sale access are at the bottom. Trading pairs are to the left.

Contracts

BritFex’s UI is very user-friendly. The account page’s left side contains contact information. The order book is located on the right. Positions with details such as P&L or open orders are found at the bottom. A perpetual contract allows you to leverage up to 100 times.

Pros and cons

ProsCons High liquidity and low trade fees. Transparency is lacking Mobile App Version available. Many features require additional upgrades. Supports more than 163 cryptocurrency coins. You can leverage up to 100x. High-Security features.

Fees

Our BitForex review reveals that it is important to consider exchange fees when trading or transferring coins. Many websites charge fees for withdrawals, deposits or both. BitForex charges nothing for a deposit. BitForex does charge a withdrawal fee of 0.0005 BTC for deposits. This is quite low in comparison to other cryptocurrency exchanges.

Trade Fees

The Realized P&L is used to calculate trading commissions. Pricing for transaction expenses is determined on a maker and taker basis depending on whether or not the trader adds to or subtracts liquidity from the trading platform.

Spot trading fees

The spot trading or flat fee covers both the taker and maker fees. The spot trading fee is 0.1%, which is lower than the industry rate (0.25%)

Perpetual Fee

Perpetual staking in BTC/ETH has a maker fee of 0.04 percent and a fee for takers of 0.06 percent. Trades of currencies other than BTC or ETH will incur 0.06 percent in taker and maker costs.

MT5 Fee

The company charges a commission to those who sell or buy through the MT5 platform. The MT5 cost for commodities and currencies is 10 USD. The transaction fee for cryptocurrencies is 0.08% per annum. Click here to learn more about BitForex’s fee structure.

TradingView

Charting interface is an important consideration for traders trading from an account. Particularly for traders who rely heavily on technical analysis to gain an advantage over their competitors. TradingView’s product is here to help. Because it offers live pricing, the interface is perfect for novice traders. The extensive tools (trading instruments) can be used to help you learn. The indications suggest analyzing, understanding, and maximising profits. This tool allows traders to create trend lines, charts patterns, and arrows in a variety time frames. It also supports limit and stop orders.

Account holders can add the following chart indicators to their chart:

Relative Strength Index

Bollinger Bands

Average True Range

Simple Moving Averages

Token Details

BitForex Token is like all other cryptocurrency tokens and serves as proof of platform ownership. BF tokens are produced in three main ways: trade mining, community, and ecosystem mutual construction. They are slowly issued. Owners of BF accounts can vote on important platform issues and community administration. BitForex exchange will purchase back 80% of the costs as BF.

Security

According to our investigation of BitForex, there has been no data breach or coin theft reported as of right now. BitForex uses a hardware wallet to protect customer funds and accounts.

DDoS Protection

BitForex has real-time hazardous traffic monitoring software to protect its crypto exchange from distributed denial of service (DDoS). This software automatically stops server requests.

Two Factor Authentications

Two-factor authentication (or 2FA) is a standard security element for trade platforms. BitForex has it. To log in successfully, the user must enter a registered email address or phone number and a password.

Customer Support

BitForex exchange’s customer service team is still relatively new, but it has established a solid reputation in this sector. The support staff is quick, helpful, and considerate when it comes to solving customer service problems. You can reach them by using the ticketing system. Many customers have questions that they need answered quickly by the crew.

The BitForex FAQ area contains all information about dealing fees (including all trading fees), deposits, withdrawals, tokens, features, and other details. You can also email the team or use our live chat feature. Emails with questions or complaints are answered within hours by the customer service team.

Conclusion

BitForex, despite being a newcomer in the cryptocurrency exchange market has achieved a milestone and earned the trust of more than 3 million customers. The product provides cutting-edge tools, including all trading instruments, and access to features that enhance the staking experience. The website also offers a mobile application for Android and iOS users to expand its audience.

BitForex exchange is a safe and open platform for spot trading, staking coins, various altcoins, perpetual contract, and staking coins. The company was built with security in mind. 98 percent of customer funds are kept cold storage wallets. The FAQ section covers all topics, including safety.

DISCLAIMER: This website provides general market commentary but does not constitute investment advice. We encourage you do your research before you invest.

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