BingX

BingX is a leading cryptocurrency exchange known for its user-friendly interface, diverse trading options, and innovative copy trading features. Established to provide a seamless trading experience, BingX supports spot and derivatives trading with competitive fees and high security. Whether you’re a beginner or an experienced trader, BingX offers a wide range of tools to help you navigate the crypto market efficiently. 

In this article, TopCoin9 will explore everything you need to know about BingX, from its key features to a step-by-step guide on how to start trading.

What is BingX?

BingX is a global cryptocurrency exchange that provides a comprehensive trading platform for both beginners and professional traders. Founded in 2018, BingX has rapidly gained popularity due to its user-friendly interface, innovative features, and strong security measures. The platform supports a wide range of trading options, including spot trading, derivatives trading, and copy trading, allowing users to engage with the crypto market in multiple ways.

One of BingX’s standout features is its copy trading system, which enables users to follow and replicate the trades of experienced traders, making it an ideal choice for those new to crypto trading. Additionally, BingX offers leveraged trading, allowing traders to maximize potential gains while managing risks effectively.

With a commitment to transparency, security, and innovation, BingX continues to expand its services globally, providing a reliable and efficient trading experience for crypto enthusiasts. What cryptocurrencies does BingX exchange support? You can see the details below.

What cryptocurrencies does BingX support?

BingX supports a wide range of cryptocurrencies, allowing traders to buy, sell, and trade popular digital assets. The platform continuously expands its offerings to meet market demand. Below are some of the key cryptocurrencies available on BingX:

Major Cryptocurrencies

• Bitcoin (BTC) – The largest and most well-known cryptocurrency.
• Ethereum (ETH) – A leading blockchain platform for smart contracts and decentralized applications.
• Tether (USDT) – A stablecoin pegged to the US dollar, widely used for trading.
• USD Coin (USDC) – Another stablecoin backed by fiat currency.

Popular Altcoins

• BNB (Binance Coin) – The native token of Binance with multiple use cases.
• XRP (Ripple) – A digital asset designed for fast and low-cost cross-border payments.
• Cardano (ADA) – A blockchain platform focused on scalability and sustainability.
• Solana (SOL) – A high-performance blockchain known for its fast transaction speeds.
• Polkadot (DOT) – A multi-chain network that enables interoperability between blockchains.

Emerging and Trending Tokens

• Shiba Inu (SHIB) – A popular meme coin with a strong community.
• Dogecoin (DOGE) – A widely known meme cryptocurrency with active trading volume.
• Avalanche (AVAX) – A smart contract platform known for high-speed transactions.
• Chainlink (LINK) – A decentralized oracle network that connects smart contracts with real-world data.

DeFi and Web3 Tokens

• Uniswap (UNI) – The native token of the Uniswap decentralized exchange.
• Aave (AAVE) – A major DeFi lending and borrowing protocol.
• The Sandbox (SAND) – A metaverse token used in virtual gaming environments.
• Decentraland (MANA) – A token for the Decentraland metaverse.

BingX regularly updates its list of supported cryptocurrencies, adding new assets based on demand and market trends. To check the latest supported tokens, users can visit the BingX official website or app. In addition to trading a variety of cryptocurrencies, what other outstanding features does BingX have? Continue reading below.

Key features of BingX

BingX offers a variety of features that make it a competitive choice for cryptocurrency traders. Below are some of the key features that set it apart from other exchanges:

• User-Friendly Interface: BingX provides an intuitive and easy-to-navigate platform, making it accessible for both beginners and experienced traders. The clean design ensures smooth trading without complications.
• Wide Range of Trading Options: Spot Trading, Derivatives Trading, Grid Trading.
• Copy Trading – Follow Expert Traders: BingX’s copy trading feature allows users to follow professional traders and automatically replicate their trades. This is especially beneficial for beginners who want to learn from experts without active trading experience.
• Leverage and Margin Trading: BingX offers leverage options for derivatives trading, allowing traders to amplify their positions. Users can choose different leverage levels based on their risk tolerance.
• Strong Security Measures: Two-factor authentication (2FA) for account protection. Cold storage to secure users’ assets. Advanced risk management to prevent fraudulent activities.
• Low Trading Fees: BingX provides competitive trading fees, ensuring cost-effective trading. The platform also offers promotions and fee discounts for active users.
• Multi-Asset Support: BingX supports a wide range of cryptocurrencies, including major assets like Bitcoin (BTC), Ethereum (ETH), and stablecoins, making it a versatile platform for traders.

With the above outstanding features, if you want to register an account and trade on BingX, you can refer to the instructions in the next section below.

How to Register and Start Trading on BingX

Getting started with BingX is a straightforward process. Whether you are a beginner or an experienced trader, the platform offers a seamless onboarding experience. Below is a step-by-step guide to help you register, deposit funds, and start trading on BingX.

Account Registration

To start trading on BingX, you need to create an account. Follow these steps:

• On the website, you select the registration button at BingX exchange
• Enter your email or phone number.
• Set a strong password to secure your account.
• Verify your account by entering the verification code sent to your email or phone.
• Complete the KYC verification (if required) to unlock full trading features.

Once registered, you can log in to your account and start setting up your trading preferences. To start trading cryptocurrencies, you need to deposit funds into your BingX account. You can see the summary below.

Depositing Funds

Before you can start trading, you need to deposit funds into your BingX account. Here’s how:

Depositing Crypto:

• Go to the “Assets” section on the BingX dashboard.
• Select “Deposit” and choose the cryptocurrency you want to deposit.
• Copy the deposit address and transfer funds from your external wallet or another exchange.
• Wait for the transaction to be confirmed on blockchain.

Depositing Fiat (if supported):

• Select “Fiat Deposit” from the deposit options.
• Choose your preferred payment method (bank transfer, credit card, etc.).
• Follow the instructions to complete the transaction.

Once the funds are credited to your account, you are ready to start trading. After successfully depositing, you can start trading the potential cryptocurrencies of your choice. For trading steps, you can refer to the next section.

Trading on BingX

BingX offers multiple trading options, including spot, derivatives, and copy trading. Below is a quick guide on how to trade:

Spot Trading:

• Navigate to the “Spot” trading section.
• Choose the trading pair (e.g., BTC/USDT).
• Select “Buy” or “Sell” and enter the desired amount.
• Choose the order type (market order, limit order, etc.).
• Click “Confirm” to execute the trade.

Derivatives Trading

• Go to the “Derivatives” section.
• Select a futures contract (e.g., BTC/USDT perpetual).
• Choose the leverage level and enter the trade size.
• Set stop-loss and take-profit levels for risk management.
• Click “Open Position” to start trading.

Copy Trading

• Navigate to the “Copy Trading” section.
• Browse and select an experienced trader to follow.
• Set the amount you want to invest per trade.
• Click “Confirm”, and your account will automatically copy the selected trader’s moves.

What are the fees for BingX exchange? Below is the fee schedule of BingX exchange for your reference.

BingX trading Fees

This information is based on the most recent data available from various sources and reflects BingX’s general fee policies. For precise, real-time details, it’s best to consult the official BingX website (bingx.com) under the “Fee Schedule” section, as fees can vary due to market conditions, VIP status, or specific trading pairs.

• Spot Trading Fees: BingX charges a flat rate of 0.1% for both maker and taker fees in spot trading. Maker fees apply when you add liquidity with a limit order not immediately filled, while taker fees apply when you remove liquidity with a market order or an instantly filled limit order. VIP users may enjoy lower rates based on their 30-day trading volume, and promotional discounts might apply to certain pairs.
• Standard Futures Trading Fees: For standard futures, the maker fee is 0.02%, and the taker fee ranges from 0.045% to 0.05%, depending on the trading pair. Fees are calculated as Trading Volume × Trading Fee Rate, recorded at position opening, and deducted upon closing. Copy trading typically follows the same 0.045% rate, with spreads varying by market liquidity.
• Perpetual Futures Trading Fees: Perpetual futures feature a 0.02% maker fee and a 0.05% taker fee. A funding rate, exchanged every 8 hours between long and short position holders, also applies—positive rates mean longs pay shorts, and negative rates mean the reverse. Leverage up to 150x is available, potentially affecting overall costs, with VIP tiers offering fee reductions.
• Deposit Fees: Cryptocurrency deposits are free on BingX, though network fees (e.g., blockchain transaction costs) may apply depending on the asset and network used.
• Withdrawal Fees: Withdrawal fees vary by cryptocurrency and network. For example, Bitcoin (BTC) withdrawal costs 0.00001 BTC on BEP20 or 0.0002 BTC on the Bitcoin network, while USDT ranges from 1 USDT (TRC20) to 6-20 USDT (ERC20). Ethereum (ETH) withdrawals on ERC20 are around 0.007 ETH. These flat fees depend on blockchain, and minimum withdrawal amounts apply.
• Other Fees: Copy trading fees align with standard futures (0.045%), calculated on total volume, with spreads adjusting for large trades. The “Convert” feature incurs no extra fees beyond spot rates. VIP discounts, based on trading volume or holdings, reduce fees and enhance withdrawal benefits.

Through the above fee schedule, what are the advantages and disadvantages of BingX exchange compared to other exchanges on the market? Please continue reading the next part.

Pros and Cons of Using BingX

Like any cryptocurrency exchange, BingX has its strengths and weaknesses. Below is an overview of the pros and consto help you decide whether it’s the right platform for your trading needs.

Pros

BingX exchange has some strengths that are highly appreciated by cryptocurrency investors, such as:

• User-Friendly Interface – BingX offers an intuitive and easy-to-use platform suitable for both beginners and experienced traders.
• Copy Trading Feature – One of BingX’s standout features, allowing users to follow and replicate trades from professional traders automatically.
• Multiple Trading Options – Supports spot trading, derivatives trading, grid trading, and copy trading, catering to different trading strategies.
• Low Trading Fees – Competitive fee structure with discounts for high-volume traders.
• Leverage Trading – Offers leverage on derivatives, allowing traders to amplify their positions.
• Strong Security Measures – Implements two-factor authentication (2FA), cold storage, and advanced risk management to protect user funds.
• Multi-Asset Support – Supports a wide range of cryptocurrencies, including major coins like Bitcoin (BTC), Ethereum (ETH), and stablecoins.
• Mobile and Web Accessibility – Fully functional mobile app and web platform, enabling traders to operate anytime, anywhere.

Besides its strengths, BingX also has its own limitations. What are they? Continue reading below.

Cons

BingX exchange has some limitations as follows:

• Limited Fiat Support – While BingX allows crypto deposits and withdrawals, fiat support is limited in some regions.
• KYC Requirements for Certain Features – Some trading options may require identity verification (KYC), which might be inconvenient for users who prefer anonymity.
• Leverage Risks – High leverage trading can lead to significant losses if not managed properly.
• Fewer Trading Pairs Compared to Larger Exchanges – Although BingX supports many cryptocurrencies, it still has fewer trading pairs compared to major exchanges like Binance or Coinbase.

Overall, BingX is a solid choice for traders looking for a user-friendly exchange with copy trading and derivatives options. However, users should consider fiat limitations and leverage risks before trading.

Conclusion

BingX is a user-friendly and feature-rich crypto exchange, offering spot, derivatives, and copy trading with competitive fees. Its copy trading feature, strong security, and multi-asset support make it a solid choice for traders of all levels. While fiat limitations and leverage risks exist, BingX remains a reliable platform for crypto trading.