BKEX Exchange Review – Features, Fees, and Security
When you hear about crypto exchanges, one of the first things that come to mind is crypto trading. Most crypto enthusiasts have come to understand the opportunities presented in cryptocurrencies. In this BKEX exchange review, we look at the features BKEX exchange offers crypto enthusiasts.
Table of Contents
Most importantly, this review gauges whether this platform is a good fit compared to other existing crypto platforms. Finally, we will examine the BKEX exchange features and the fees it charges during transactions.
BKEX Exchange Review – Introduction
BKEX is one of the most famous cryptocurrency exchanges offering services to a global audience. BKEX exchange ranks itself among the first-tier crypto exchanges based on its services. The exchange offers regular exchange functionality and several other services as expected of crypto exchanges, such as spot trading, leveraged ETP products, and OTC services.
OTC currently has 23 mining pools that its users can utilize to gain an added advantage in their investments. The other service that BKEX offers is the staking functionality and crypto loans for up to 180 days. Those who have come to use the BKEX crypto exchange consider it a reliable exchange.
It harbors professional standards and describes itself as the first Sunshine platform, which has been regulated and audited by third parties. Going by the traffic BKEX generates, it is clear that this exchange has a massive following with high trading volume.
To help readers learn more about the BKEX exchange, this article performs a BKEX exchange review.
Here are some of the most important features of BKEX:
There are several admirable features on the BKEX exchange that its users can utilize. These features are some of its main attractions. Most cryptocurrency enthusiasts focus more on the security of their accounts, and BKEX exchange USA has a well-established security system.
BKEX advertises its platform as a highly secured crypto exchange platform with offline cold storage wallets, ensuring that its client’s assets are protected from digital theft. However, it is essential to note that there has been a constant fuss from BKEX users, with several claiming that their funds were stuck in their wallets, unable to be withdrawn.
BKEX platform also ensures the security of its clients through the two-step verification process that it has on their accounts. Even so, the security of BKEX has been questioned because a significant number of users have been unable to withdraw from their accounts, which may be considered a security breach.
Registration and Interface
BKEX has an intuitive and easy-to-use user interface. Those who are joining the platform for the first time will not encounter any issues understanding the process of trading on the platform. The registration process has also been designed to be quite user-friendly and accessible.
Users are required to submit their email addresses, after which they will set the account password. (It is worth noting that when creating passwords to crypto platforms, you should use passwords that are not being shared with any other sites. Also, the passwords being used should have several different characters to ensure the account’s security.)
Deposit and Withdrawal
BKEX exchange USA does not provide an array of options to its users when it comes to deposits, as it only accepts crypto deposits. This could be a significant inconvenience for investors, as most prefer funding their accounts with fiat money.
There is not much difference in withdrawals, as the platform only allows withdrawal of cryptocurrencies and not fiat money. However, despite no fees charged on deposits, users are slapped with a fee during their withdrawal, as shown in the fees section of this BKEX exchange review.
BKEX exchange supports much crypto, including all the popular coins and tokens. The company also operates in most countries worldwide, and therefore, there is a good chance that your country allows BKEX operations. However, there have been several allegations against BKEX, claiming that it is a scam, and certain forms of cheating are happening within the platform.
The BKEX platform is not a regulated exchange, so it does not need KYC. However, if you are in the process of investing in crypto through the platform, you should understand that the reviews towards the platform have not been favorable, and you should take all the needed caution when working with the exchange.
BKEX Exchange Fees
Looking at the fees that BKEX charges compared to other crypto exchange platforms, it is clear that the rates charged by BKEX are way lower than the standard. For example, BKEX charges a markers fee of 0.15% and a takers fee of 0.05%. However, when engaging in perpetual contracts, the markers fee is lower and charged at 0.02%, while the taker’s fee remains constant.
BKEX users are considered lucky enough as they are not charged fees while depositing funds to the exchange. However, there are varying charges depending on the crypto one is using during the transaction when it comes to withdrawal fees.
For example, if it is a Bitcoin (BTC) transaction, a single withdrawal transaction is charged at 0.0008, while Bitcoin Cash (BCH) charges 0.0001. However, if you need a detailed understanding of the fee structure, you can visit the official website.
BKEX Exchange Additional Information
The BKEX platform is accessible from anywhere, as its applications can be downloaded both from the Android and iOS application stores. This means that convenience for its users is guaranteed. Besides, BKEX has a support site in Chinese, and even though they serve globally, this may prove to be a complex affair for those who do not speak Chinese.
Their live chat also contains both English and Chinese messages, but the needed options are in Chinese. This is a significant shortfall for non-Chinese users. The platform should invest in making it beneficial to everyone internationally.
BKEX Review – Conclusion
In conclusion, BKEX exchange can easily pass as a well-developed crypto exchange platform, but it does not compare to other platforms. Furthermore, even though there have never been any incidences of hacking, the security of the BKEX platform can be considered shaky due to the withdrawal struggles that most of its members have been experiencing.
The poor reviews left by previous and current BKEX users indicate that BKEX still has a long way to go in terms of evolution. It is not well-known as Gemini or Coibase, but BKEX has potential. Furthermore, even though it is a global platform, it is clear that it does not adequately fulfill the needs of its users. Nevertheless, BKEX is a platform worth trying if you wish to understand how crypto platforms operate and the trading opportunities.
Images Source: BKEX.com