BingX has continued to climb the ranks, becoming a top twenty crypto exchange in 2024. The platform offers numerous services to meet the needs of both experienced and beginner traders. Are you planning to sign up with BingX? If so, we recommend you read this guide before getting started with the centralized exchange.
Exploring BingX
Founded in 2018, BingX is a leading centralized crypto exchange offering several services, ranging from copy trading, asset management, derivatives, and spot trading. According to data from CoinMarketCap, BingX is the 18th largest exchange based on trading volume.
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The well-known crypto trading platform has partnered with a number of sports organizations across the world, including Chelsea Football Club.
As of June 2024, BingX supports 760 cryptocurrencies and over 1,000 trading pairs. In 2023, the exchange processed over 600 million copied trades. What’s more, CoinGecko data shows that BingX has been processing an average daily trading volume of $512 million over the past six months. The platform serves more than 9 million users located in over 100 countries.
BingX’s Features and Tools
Like most top crypto exchanges, BingX offers users access to advanced features in an effort to provide a seamless crypto trading experience. Some of the features include:
Buy Crypto
This functionality allows users to quickly buy cryptocurrencies using fiat. BingX supports payment methods like bank transfers and debit cards.
Peer-to-Peer Trading Service
BingX supports peer-to-peer (P2P) trading, which involves users trading directly with each other. On the P2P platform, you can buy ETH, BTC, and USDT using your preferred fiat currency.
Derivatives Trading
If you like trading futures, then BingX has got you covered. The exchange offers Perpetuals and Standard Futures, which are divided into two: Coin-Margined and USDT-Margined.
Coin-Margined futures are contracts margined and settled in a particular digital asset like Ethereum and Bitcoin. That means the actual crypto asset is used as collateral, and the realized profits and losses are settled in that asset. As for USDT-Margined futures, USDT is used as collateral, and realized losses or profits are settled in that stablecoin.
Spot Trading
BingX lists 760 cryptocurrencies in the spot market. You can swap these tokens quickly and at a low cost.
Copy Trading
BingX is one of the exchanges with massive copy trading networks. As of June 2024, BingX hosts over 6 million copy traders and thousands of lead traders who are divided into various categories, including Rising Stars, Tredniing Traders, and Conservative Traders.
Grid Trading
BingX supports trading bots that place buy and sell orders automatically for users to profit from market movements. The exchange allows users to employ various grid trading strategies like Infinity Grid, Spot Grid, and Futures Grid.
Asset Management Services
BingX has made it possible for users to earn passively through its “Wealth” feature, which offers two products: Simple Earn and Shark Fin.
Rewards Hub
Active BingX traders who participate in various activities are rewarded the following: mystery boxes, bonuses, trial funds, and rebate vouchers.
BingX Academy
BingX joins other crypto players to educate the masses about digital assets and blockchain through its educational program called BingX Academy, which offers informative resources like guides, articles, and tutorials covering crypto-related topics.
How to Sign Up With BingX
Now that you know the features and services offered by BingX, you can go ahead and create an exchange account. Here is how to do it:
1. Download the BingX app from the App Store or Play Store.
2. Press “Sign Up” and select your preferred registration method. You can create a BingX account using your phone number or email.
3. Enter the verification code sent to your phone number or email to complete the security checks.
4. Verify your identity to start trading on BingX without any limits.
Conclusion
The useful features offered by BingX have enabled the exchange to grow in popularity among crypto traders. The platform’s user-friendly interface allows beginners to navigate the crypto markets like pros.