Bibox exchange provides spot trading of over 500 cryptocurrencies with fees ranging from 0.1% down to 0.01%, depending on the number of your BIX open positions and/or trading volume.
Furthermore, the platform provides 4 investment options [copy trading, bots, lending, Treasure Box].
Bibox Exchange Information + Regulation
Bibox is a cryptocurrency exchange based in Singapore. Key Points and Details About The Company:
- Founded: 2017
- Founder: Aries Wang
- Legal Name: Bibox Technology OÜ
- License: The Financial Services Standards Association in Switzerland (VQF)
The exchange claims that it is "one of the few blockchain enterprises to obtain a license" from this organization.
Bibox Exchange Review: Trading fees, applications, available coins/tokens, and more
Bibox Exchange Key Features and Specifics
In every crypto exchange review, we provide a table of features in this section. Here's a quick overview of what Bibox brings to the table:
Exchange | Bibox |
Launch Date | 2017 |
Levels | None |
Trading Fees | 0.1% to 0.01% for Spot Trading, 0.04% to 0% for Futures Contracts |
Restricted Countries | United States of America, China Mainland, Hong Kong, Taiwan, Crimea, Sudan, etc. |
Supported Coins | 500+ |
Futures Trading | Yes |
Minimum Deposit | $1 |
Deposit Methods | Crypto |
Withdrawal Methods | Crypto |
Maximum Leverage | 150x |
Minimum Trade Amount | $1 |
Security Factors | 2FA, AI Measures, Microservices Splitting Design, SSL Encryption, Insurance Fund |
Services | Treasure Box, Trading Bots, Copy Trading, Lending, Broker, Bibox Lab |
Customer Support Ways | Live Chat, Email, Ticket |
Customer Support Hours | 24/7 |
Fiat Deposit | No |
Affiliate Program | Yes |
Orders Execution | N/A |
Native Token | BIX |
Notable Benefits and Drawbacks
Like any cryptocurrency exchange, Bibox comes with several important and neglectable advantages and disadvantages. Let's go through the important ones:
Benefits | Drawbacks |
500+ Tradable Digital Assets | Fiat Deposit Not Accepted |
Futures And Margin Trading | Low Trust Scores and Several Complaints |
Access to Passive Investment Options | - |
Bibox Exchange User Level System
Based on our investigations of the website, the exchange does not have any tier systems for verified users. The only leveling structure is for fees.
Bibox incentivizes loyal users through its native BIX token. By holding and using BIX for transaction fees, users unlock discounted rates.
Trading Fees and Other Commissions
Bibox has set a structure for trading fees based on the trading volume, asset balance, and BIX (the exchange's native token) open positions. Here is the table for spot trading fees for normal users:
Level | 30D Trading Volume (USDT) | And/Or | BIX Open Position | Maker/Taker Fee |
Lv.1 | <1,000,000 | Or | <5,000 | 0.1000%/0.2000% |
Lv.2 | ≥1,000,000 | And | ≥5,000 | 0.0950%/0.2000% |
Lv.3 | ≥2,000,000 | ≥20,000 | 0.0900%/0.1800% | |
Lv.4 | ≥3,000,000 | ≥50,000 | 0.0850%/0.1500% | |
Lv.5 | ≥4,000,000 | ≥100,000 | 0.0800%/0.1200% | |
Lv.6 | ≥5,000,000 | ≥500,000 | 0.0750%/0.1000% |
Pro Users' Spot Trading Fees:
Pro Level | 30D Trading Volume | And/Or | Asset Balance (USDT) | Maker/Taker Fee |
Pro.1 | ≥10,000,000 | Or | ≥100,000 | 0.0750%/0.1000% |
Pro.2 | ≥50,000,000 | ≥300,000 | 0.0700%/0.0900% | |
Pro.3 | ≥100,000,000 | ≥1,000,000 | 0.0600%/0.0800% | |
Pro.4 | ≥200,000,000 | ≥5,000,000 | 0.0500%/0.0700% | |
Pro.5 | ≥500,000,000 | ≥10,000,000 | 0.0400%/0.0600% | |
Pro.6 | ≥1,000,000,000 | - | 0.0300%/0.0500% | |
Pro.7 | ≥2,000,000,000 | 0.0200%/0.0400% | ||
Pro.8 | ≥3,000,000,000 | 0.0100%/0.0300% |
You can see the fee numbers for futures trading in the table below:
Pro Level | 7D Trading Volume (USDT) | Maker Fee | Taker Fee |
Normal | - | 0.040% | 0.060% |
Pro.1 | ≥1,000 | 0.020% | 0.055% |
Pro.2 | ≥2,000 | 0.015% | 0.055% |
Pro.3 | ≥3,000 | 0.015% | 0.050% |
Pro.4 | ≥5,000 | 0.010% | 0.050% |
Pro.5 | ≥10,000 | 0% | 0.045% |
Pro.6 | ≥30,000 | -0.005% | 0.045% |
Pro.7 | ≥50,000 | -0.010% | 0.040% |
Pro.8 | ≥100,000 | -0.015% | 0.038% |
Negative numbers mean that the trader gets a rebate. The company does not provide any specific information about deposit/withdrawal commissions.
Tradable Coins and Tokens on Bibox Exchange
Bibox offers access to over 500 cryptocurrencies, making it a versatile exchange for altcoin enthusiasts. The most popular pair on the platform is ETH/USDT.
While fiat trading is not supported, users can trade across a wide range of markets using digital assets only. The platform also supports both spot and swap functionalities.
Some of the popular coins available on Bibox include:
- Bitcoin [BTC]
- Ethereum [ETH]
- Cardano [ADA]
- Polkadot [DOT]
- Chainlink [LINK]
- Litecoin [LTC]
- Algorand [ALGO]
- Filecoin [FIL]
Users can start trading on Bibox with as little as 1 USD or 0.0001 BTC, both for deposits and minimum trade size. This low barrier makes the platform accessible for beginner traders and those experimenting with smaller positions.
Does Bibox Exchange Offer Futures And Margin Trading?
The company does offer both futures and margin trading options in these forms:
- Margin trading on limited pairs with leverage of up to 10x
- USDT-M and Coin-M perpetual futures contracts on select cryptocurrencies with up to 150x leverage
Account Creation and Verification Tutorial
You can sign up in a matter of a few minutes on the Bibox exchange. Here's a helpful guide to registering and verifying your account:
#1 Visit the exchange's official website
Head to the Bibox official website and click "Register" to navigate to the sign up form.
#2 Registration form
Fill in the Bibox application form with the following details:
- Email address
- Account password (must contain lowercase, uppercase, digits, and special characters)
Confirm the statement down the form, then click "Sign up".
#3 Bibox account activation
After sending the application, click "Send Code" and complete the captcha.
The exchange will then email you a verification code that you must use to activate your account.
Your account is open and ready on the platform. For KYC verification, provide the necessary information and documents on the website.
Trading Platform and Software in Bibox Exchange
Bibox takes the common approach, offering a proprietary trading platform with necessary features. The platform does not have any unfamiliar options and provides a brief "Beginner's Guide" to get you started. This terminal is available on these operating systems:
- Bibox Android
- Bibox iOS
- Windows
- macOS
Both desktop and mobile platforms support multiple order types, technical charting tools, and a full-screen mode for advanced traders. AI modules assist in trade optimization, although specific implementation details remain undisclosed.
Safety Measures and Level of Security
Bibox is one of the many exchanges in the industry that does not provide much information about the security factors effective in its operations.
The company has stated that it uses microservices splitting design and AI to keep the platform secure. Also, the 2-factor authentication is available for the account's security.
Bibox is regulated in Switzerland under Tier-1 regulatory standards and enforces mandatory KYC verification. The exchange safeguards user assets with 2FA, SSL encryption, and cold wallet storage.
An investor protection fund adds an additional layer of security. To date, the platform has reported no successful hacking incidents.
Remember that it's always critical to do your own research and make sure of a platform's safety before making any decisions.
Bibox Deposit & Withdrawal Choices
Unfortunately, this exchange does not accept any fiat deposits. However, it allows users to buy crypto directly with their currencies via E-payment systems [Google Pay, Apple Pay, etc.] and credit/debit cards [VISA, MasterCard].
Bibox supports cryptocurrency-only deposits and withdrawals with zero deposit fees. Withdrawal fees vary by asset, with the following typical charges:
Asset | Withdrawal Fee |
Bitcoin | 0.0004 BTC |
Ethereum | 0.005 ETH |
Tether | 35 USDT |
Bibox Exchange Trust Scores
In this section, we rely on scores on reputable sources like Trustpilot and ScamAdviser for evaluating the company's overall performance. For Bibox, the trust scores present a mixed picture:
- Trustpilot: 1.1/5 stars based on 170+ reviews
- ScamAdviser: 70/100 Trust Score, 1.2/5 user reviews with 200+ ratings
These scores indicate that while Bibox has some positive aspects, there are significant concerns among users.
Overall, the low trust scores suggest that potential users should exercise caution when using this exchange.
Bibox Features
Let's take a quick look at the features and services that Bibox has to offer.
Staking | Yes |
Yield Farming | Yes |
Social Trading | Yes |
Liquidity Pool | Yes |
Crypto Cards | No |
Support Service Contact Methods and Availability Hours
Bibox exchange offers 3 typical channels for contacting customer support:
- Email: support@bibox.zendesk.com
- Ticket System: Available through the official website
- Live Chat: Accessible on the website
At the time of writing this article, the live chat was unavailable; the related page showed a message in Chinese, saying "this channel has been deactivated. Please contact us through other means".
Copy Trading Service and Other Investment Options on Bibox Exchange
The company offers 4 avenues for users to generate passive income and enhance their trading strategies:
- Copy Trading: Enables the copying of successful strategies by professional traders for earning passive profits;
- Crypto Loans: Lend your crypto assets to earn interest;
- Trading Bots: Utilize AI-powered bots to automate your trading strategies;
- Treasure Box: Deposit your crypto balance and start earning on idle funds.
Bibox integrates social trading through its copy trading module, enabling users to mirror the strategies of more experienced traders.
It also provides automated trading bots, which can be customized to align with specific risk profiles and strategies.
Bibox Exchange Banned Countries and Regions
It's important to note that Bibox, like many cryptocurrency exchanges, has restrictions on users from certain countries. At the current time, Bibox does not offer services to residents or citizens of:
- United States of America
- China Mainland
- Hong Kong
- Taiwan
- Crimea
- Sudan
- Guam
- Bangladesh
- Bolivia
- Ecuador
- Kyrgyzstan
- Kazakhstan
- Cuba
- Iran
- North Korea
- Syria
Users from these jurisdictions are prohibited from accessing or using the Bibox platform and its services. This restriction is in place to comply with various international regulations and laws governing cryptocurrency trading.
Bibox Comparison Table
To have a balanced view on Bibox exchange, let's compare its services with three popular platforms:
Features | Bibox Exchange | |||
Number of Assets | 500+ | 700+ | 800+ | 2,800+ |
Maximum Leverage | 1:150 | 1:100 | 1:125 | 1:200 |
Minimum Deposit | $1 | $1 | $1 | $1 |
Spot Maker Fee | 0.075% - 0.1% | -0.005% - 0.1% | 0.005% - 0.1% | 0.05% |
Spot Taker Fee | 0.1% - 0.2% | 0.025% - 0.1% | 0.02% - 0.1% | 0.05% |
Mandatory KYC | No | Yes | Yes | Yes |
Futures Trading | Yes | Yes | Yes | Yes |
Mobile Application | Yes | Yes | Yes | Yes |
Fiat Payment | No | Yes | Yes | Yes |
Staking | Yes | Yes | Yes | Yes |
Copy Trading | Yes | Yes | Yes | Yes |
Writer's Opinion And Conclusion
Bibox exchange provides 3 support channels [email, ticket system, live chat] with the third one being inactive at the time of writing.
More than 170 users have given an average score of 1.1 out of 5 to this company on the Trustpilot website.