Bibox is a centralized cryptocurrency exchange platform launched in 2017. The platform supports cryptocurrency trading and swapping. Bibox cryptocurrency exchange is registered and operates under the laws of the Republic of Estonia. The project also has a subsidiary Bibox Europe in Switzerland, which serves the demands of Europe. Bibox crypto exchange also has operating centers in other regions including the United States, Canada, South Korea, Singapore, Japan, Switzerland, Russia, Estonia, and Turkey.
Bibox requires all users to complete KYC authentication before they begin using the platform's services such as deposits, withdrawals, and trading. Despite having its centers in the United States and Japan, citizens of these countries are prohibited from using Bibox services. Bibox crypto exchange is available in Android and iOS mobile apps. It is also available in Mac and Windows applications. Additionally, users can access the platform through the web on any device.
Markets
Bibox supports spot trading. Bibox spot allows users to purchase and sell digital assets with their available account balances. Bibox cryptocurrency exchange also offers leveraged trading. This product allows users to take their funds as a margin and borrow funds from the platform as the principle to invest. The platform offers up to 10X margin. Additionally, Bibox offers futures trading, which is a type of derivative contract agreement to buy or sell an asset at a set future date for a set price.
Bibox trading pairs include crypto-to-crypto markets and crypto-to-fiat markets. The platform has more than 400 digital coins and over 270 trading pairs.
Bibox token (BIX) is a native asset of the Bibox exchange. The token was launched in 2017. It is a utility token for the exchange, enabling users to get rewards and dividends on their holdings. It also grants users privileges to use new applications, and enjoy fee discounts, rewards, and more. Bibox crypto price is displayed on the live chart here.
Bibox offers both a simple buy interface and an advanced trading interface. The buy dashboard enables quick purchasing of digital assets using fiat currencies. The advanced trading platform offers various features that give users deeper market insights. Experienced traders can use the tools to have more control of their trading activities.
Besides, Bibox uses order books to match the seller and buyer requests on the platform. It has both – market orders and limit orders features. Market orders allow traders to trade assets at the available market prices. On the other hand, the limit order feature allows users to customize prices for their trades. Users can set maximum and minimum prices for trading their digital assets.
Bibox crypto exchange also supports Stop Profit/Loss orders. This feature allows users to place trade orders that automatically execute once the market reaches a specific price. Stop Profit/Loss is a risk management feature that helps traders limit losses when their positions make unfavorable moves.
Additionally, Bibox users can also enjoy isolated margin and cross-margin trading. Cross margins are margins that are shared between open positions. They help to prevent quick liquidations and can withstand portfolio losses better. The platform offers up to 5X cross margin. On the other hand, isolated margins are assigned to positions, and restricted to specific amounts. Bibox offers up to 10X margin for fixed margins.
Bibox exchange fees follow a tiered structure. Tiers depend on the amount of locked BIX for normal traders and the amount of traded BTC for the past 30 days for Pro users. The fee is also different for makers and takers. Taker fees for Normal users start at 0.20% (Level 1) and go down to 0.10% (Level 6). The maker fee starts at 0.1% (Level 1) and go down to 0.075% (Level 6). Bibox crypto fees for Pro traders begin at 0.070% and go down to -0.005%. The traders can also enjoy 25% discounts when staking BIX. The amount of discount varies depending on the amount of BIX locked. The platform does not charge deposit fees. Withdrawal fees vary with the type of asset transacted.
Other Services
Bibox offers other earning opportunities besides trading for its users. The lending program allows users to lend their digital tokens and earn interest. Current financing allows users to receive interest on BTC, ETH, and USDT.
Also, the platform offers financial cards, which provide financial benefits designed for specific user groups. Furthermore, Bibox provides online DeFi mining pools for users to make money by contributing their computing power. Also, the platform's treasure box gives users a chance to invest in certain cryptocurrencies for a certain period of time and receive dividends.
Moreover, bots trading services offered by Bibox allow users to automate their trading activities. The bot program offers various AI strategies designed for better trading results. Though traders can also use Copy Trading feature, which allows users to copy the portfolio of experienced traders, making professional trading much easier even for beginners.
About the Company
Bibox was founded by Jeffrey Lei, Guojie Liu, Kevin Ma, and Aris Wang in 2017 through crowdfunding. Although Bibox is a Chinese project, it was registered under the laws of the Republic of Estonia. In July 2019, Bibox launched a subsidiary Bibox Europe in Switzerland to expand its services to European customers.
The daily Bibox trade volume ranged around $565 million. The current Bibox volume can be viewed on the chart above. The platform has been experiencing an increase in the number of users since its launch. The developers promised in the Whitepaper to offer innovative tools and ensure it could serve up to 10 million users simultaneously.
Bibox cryptocurrency exchange founding team includes top-tier Chinese blockchain giants. Aris Wang is a crypto entrepreneur and partner at BlockWater Capital. Another co-founder Kevin Ma is an expert in Big Data, AI, and blockchain technologies. Kevin Ma also worked at Huawei and co-founded Jixianyuan. Lastly, Jefferey Lei is a former employee of Huawei and co-founder of Jixianyuan and OKCoin.
