Bibox is a one-of-a-kind cryptocurrency exchange that makes use of AI-enhanced, encrypted algorithms to help with trading and transactions. The exchange was established in 2017 and is run by a well-versed team of Chinese blockchain and cryptocurrency experts. The team comprises the co-founder of OKCoin as well as other founding members of Huobi.com, one of China’s and the world’s largest cryptocurrency exchanges. Despite having a highly skilled crew and platform, the Bibox exchange is still unregulated by any respectable regulatory bodies. This does not, however, imply that the exchange cannot be trusted. We must investigate all areas of this bitcoin exchange to see what distinguishes Bibox from the competition and whether or not they can be trusted.
Exchange platform
Bibox provides traders with a fantastic web-based trading platform that can be used immediately from the Bibox website. The exchanges platform is elegantly built to make all of its features simple to use and comprehend. Traders can choose between a simple platform mode and a full-screen platform mode when viewing the platform. The latter is a little more complicated, and it’s designed for experienced traders who wish to take advantage of the technical analysis tools available. Both versions of the platform, however, have the same functions and a different layout. Both platform versions include a comprehensive chart on which traders may evaluate the price of the underlying digital asset using a variety of technical indicators and charting tools. Traders can also use a variety of order types, such as market orders, limit orders, and stop-loss orders.
The Bibox exchange platform is distinguished from other cryptocurrency exchanges by the incorporation of AI modules and other smart tools that allow the best trade deals to be completed with minimal human input. However, little information about how these AI-enhanced technology works have been provided. Bibox has also incorporated a cutting-edge distributed cluster design that ensures the platform’s stability. Additionally, the Bibox downloadable application makes the trading platform fully compatible with all mobile devices.
Exchange markets
Bibox is a cryptocurrency exchange that only trades bitcoin assets. The Bibox exchange does not accept fiat money; traders must obtain their cryptocurrencies elsewhere before using the Bibox exchange. Ethereum (ETH), Bitcoin (BTC), Tether (USDT), and dai are the markets in which cryptocurrencies can be traded (DAI). The dai cryptocurrency, like Tether, is a decentralized stablecoin. The market’s value is tied to the US dollar, and the cryptocurrency assets that can be traded are limited to:
- Bitcoin
- Ethereum
The Tether market is the next smallest with the following coins:
- Bitcoin
- Ethereum
- Litecoin
- Eos
- Neo
- Quantum
- Bibox Token
The Bitcoin and Ethereum markets, on the other hand, offer a significantly bigger number of cryptocurrencies to trade. Because Bibox is continually adding and removing coins, the list is constantly changing. However, there are constantly roughly 50 or more cryptocurrencies to trade against Bitcoin or Ethereum.
Fee
Traders who buy Bibox’s own Bibox Token can use it to pay lower fees on the Bibox trading platform. Traders will be enticed to acquire and keep the Bibox Token as a result of this. Traders who do not own the token must pay a minuscule 0.1 percent trading charge on all transactions. Depositing cryptocurrencies is free while withdrawing bitcoin from the exchange incurs a fee of 1% of the withdrawal value, with a minimum withdrawal of $15. The amount of a discount you get when paying these fees with the Bibox Token isn’t specified, although discounts are given.
Security and fairness
To protect their client’s personal information, accounts, and assets, the Bibox exchange uses the most up-to-date security methods. SSL encryption technology, two-factor authentication methods via email, SMS messaging, and Google’s Two-Factor-Authenticator are examples of security procedures. Furthermore, the exchange promises to keep the majority of user assets in cold storage wallets offsite. As a result, the majority of users’ cash should be protected in the case of a hack.
Support
Bibox’s customer service department can be accessed by email or a ticketing system. According to Bibox users, the exchange’s customer service is great, and the staff responds quickly and professionally. This makes sense because the Bibox team is quite knowledgeable and attentive to many of the support queries. Additional assistance options include the website’s FAQ page, which is somewhat limited but does contain some answers. In addition, Bibox maintains a strong social media presence.
Conclusion
Following a review of the Bibox cryptocurrency exchange, it was clear that the exchange provides excellent cryptocurrency trading services. Bibox allows you to trade a wide range of cryptocurrencies in many markets. The website and platform run efficiently, and the customer service is also quite nice. Sadly, this exchange doesn’t support fiat currency pairings, but for many people, this isn’t a deal-breaker. Overall, the Bibox exchange is a respectable one, with a reasonable trade volume and cheap costs.
