What is Bitforex?
BitForex, established in 2017, stands as a prominent centralized cryptocurrency exchange (CEX) headquartered in Hong Kong. The platform is dedicated to offering users a secure, professional, and convenient transaction experience. BitForex is at the forefront of the digital asset industry, providing a diverse set of tools, including Spot Trading, Perpetual Futures, Turbo Starter, Financial services, and more.
Market Presence
As of January 2023, BitForex boasts an extensive selection of over 300 projects, catering to a user base exceeding 6 million across 200 countries and regions. The exchange's independent operating teams are strategically positioned in various locations such as Germany, South Korea, Singapore, Russia, and more.
Global Reach
BitForex's global presence is underscored by its commitment to adapting to new market needs through the continuous introduction of innovative features. The exchange facilitates trading for users around the world, ensuring accessibility and convenience.
Coin Diversity
One notable feature of BitForex is its offering of more than 500 different cryptocurrencies for trading. While this diversity accommodates the needs of even the most niche altcoin traders, it also raises considerations regarding potential risks. The abundance of supported coins means a wide array of options for traders, but it also implies a need for caution, as lesser-known projects may not have undergone the same scrutiny as more established ones.
Pros and Cons
On the positive side, the extensive coin selection caters to a broad spectrum of traders, allowing them to find all their specific trading needs on a single platform. However, on the flip side, the increased variety raises concerns about the potential presence of scam coins. Smaller exchanges often focus on major cryptocurrencies that have undergone rigorous due diligence processes.
Constant Adaptation
BitForex emphasizes its commitment to adapting to market dynamics, ensuring it remains at the forefront of the industry. The introduction of new features and services reflects the exchange's dedication to meeting evolving user requirements.
In conclusion, BitForex's global presence, diverse coin offerings, and commitment to innovation position it as a notable player in the cryptocurrency exchange landscape. Traders benefit from a range of options, but careful consideration is advised, especially in light of the potential risks associated with a vast array of supported cryptocurrencies.
What are the trading fees on Bitforex?
• Maker fees: 0.1%
• Taker fees: 0.1%
Perpetual
BTC & ETH
• Maker fees: 0.04%
• Taker fees: 0.06%
Does Bitforex offer leverage trading?
BitForex currently offers leverage options.
Is Bitforex safe?
While many major CEXes boast stronger firewalls than most governments, history has witnessed numerous instances where exchanges have fallen victim to hacks, resulting in the loss of customer funds. DEXes are generally safer option as you have control over your funds at all times as long as blockchain is up and running. Its all based off contract code so you can clearly look whats behind the scenes, and how their contracts work.
Does have customer support?
Almost all exchanges provide customer support, but the quality, speed and continuity of this service varies from time to time depending on the budget conditions of the companies. We recommend that you experience the support service provided by the stock exchange by asking a question to the support section on its website.
