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 Swiss (VQF)
The exchange claims that it is "one of the few blockchain enterprises to obtain a license" from this organization.
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 | N/A |
Deposit Methods | Crypto |
Withdrawal Methods | Crypto |
Maximum Leverage | 150x |
Minimum Trade Amount | N/A |
Security Factors | 2FA, AI Measures, Microservices Splitting Design |
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 |
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, which will be discussed in the next section.
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 this table:
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
The platform offers an extensive array of over 500 cryptocurrencies for trading. Some of the popular coins available on the platform include:
- Bitcoin [BTC]
- Ethereum [ETH]
- Cardano [ADA]
- Polkadot [DOT]
- Chainlink [LINK]
- Litecoin [LTC]
- Algorand [ALGO]
- Filecoin [FIL]
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 the matter of a few minutes on Bibox exchange. Here's a helpful guide to registering and verifying your account:
- Visit the exchange website [www.bibox.com];
- Click on the "Register" button;
- Enter an email address and create a password;
- Confirm the statement down the form, then click on "Sign up";
- Click on "Send Code" and complete the captcha;
- Submit the verification code sent to your email.
Your account is opened and ready on the platform. For identification, provide the necessary information and documents on the website.
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 only 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.
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].
For deposits/withdrawals, the only option is making crypto transactions.
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.
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
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.
