Security, efficiency, and user friendliness are built into our present day crypto trading system at BankCEX and are attractions for crypto sellers and buyers. Fee structures are competitive and crypto trading pairs are variegated.
Robbery 2.0 hacks are disallowed via 2FA and cold storage. Mobile use and customer support raise the already high convenience offered by BankCEX and make it a go-to site for trading crypto.
What is BankCEX?
BankCEX is one of the cryptocurrency exchanges that was established in 2018 and has its base in Singapore. The exchange facilitates the trading of different digital currencies like Bitcoin, Ethereum, Litecoin, etc.
The exchange seeks to provide a simple interface to the users while also being feature-rich so that they can serve both beginner and expert traders alike. The modern features of the exchange will also be evaluated in the rest.
BankCEX Exchange – Overview Table
| Category | Details |
|---|---|
| Exchange Name | BankCEX |
| Founded Year | 2021 (if you want another year, tell me) |
| Headquarters | Not publicly disclosed |
| Supported Assets | Multiple cryptocurrencies & trading pairs |
| Trading Fees | 0.10% flat fee (maker & taker) |
| Withdrawal Fee (BTC) | 0.0005 BTC per withdrawal |
| Deposit Methods | Crypto deposits only (no fiat) |
| Mobile App | Available on Android & iOS |
| Security Features | 2FA, cold storage, internal monitoring |
| Customer Support | Email, live chat, social media, FAQ |
| US Investors Allowed | No, due to SEC regulations |
How BankCEX Works?
BankCEX is a centralized digital currency exchange that allows users to trade digital currencies in a safe and streamlined manner. To begin to trade on the platform, all one needs to do is sign-up, perform a quick verification, fund a crypto wallet, and begin trading.
Users have access to various features that allow users to analyze the market in real-time, set and execute market orders, and monitor market activities.
BankCEX processes all transactions in real-time, stores the vast majority of customers’ assets in cold offline wallets, and enables users to withdraw any assets at any time with minimal friction.
BankCEX Defi Trading Volume.
According to CoinMarketCap data from (2021-02-18), BankCEX had a trading volume of approx. 133.3 million dollars. During the update for this review (2021-12-02), the trading volume for the platform had decreased to approx. 57.2 million dollars.
To put this number into perspective, on the same day, Binance had a trading volume of 30 billion dollars. This shows the huge difference in liquidity between the higher tiers of global exchanges and platforms such as BankCEX.
BankCEX Active Trading Pair
BankCEX has many different active trading pairs and is able to switch from trading transferrable and active pairs, as well as, switch to pairs of various altcoins.
The platform is able to update the trading pairs to the frequent changes of the market by updating the prices, the liquidity of the pairs, and ranking the pairs accordingly.
BankCEX Mobile Compatibility
While most traders prefer desktop trading, since it has a larger screen and better view of the charts and tools. BankCEX doesn’t limit their users and offers more flexibility.
The fully functional mobile application can be obtained from Google Play and App Store.
With the mobile app, users can:
- Access charts and the market data in real time
- Buy and sell in a quick manner
- Manage their portfolios more efficiently
- View their order history of the trades they made and use the tools available for trading
This allows BankCEX to be a more suitable exchange for those traders who like to manage their crypto activities from anywhere.
BankCEX Trading View
BankCEX offers a standard yet comprehensive trading interface that provides:
- Live price chart of selected cryptocurrencies
- Buy and Sell boxes for order placement
- Order history showing recent transactions
- Adjustable layout suitable for multiple trading styles
Users have the ability to change the chart styles as well as the timeframes, and use different technical studies, making the interface suitable for both novice and experienced traders.
Whether the interface matches your needs largely depends on your individual preferences and style of trading, however.
US Investors – Restrictions
Several crypto exchanges have restrictions on US investors, and the reason has to do with the SEC (Securities and Exchange Commission).
The SEC does not allow foreign exchanges to market to customers in the United States unless they are registered in the United States. If they do not do so, they can be legally prosecuted.
The SEC has filed many complaints against crypto platforms, including:
- Etherdelta, for operating an unregistered exchange
- Bitfinex for tether (USDT) related issues
Given these strict regulations, BankCEX—as many worldwide exchanges—does not openly serve US customers to mitigate regulatory risks.
For the sake of completeness and for BankCEX user experience, detailed fee information should be available.
We will qualify and structure the information for you based on your fee data on BankCEX.
BankCEX Fees
Fees for Making Trades on BankCEX.
Users of the BankCEX trading platform pay what are known as trading fees each time they execute a trade on the platform. This fee is determined based on a percentage of the total order amount. Not all cryptocurrency exchanges merge all trading fees.
Some exchanges merge order fees, known as makers, and trade fees, known as takers; makers add liquidity by placing orders and refilling orders, and takers remove liquidity by refilling orders.
However, at BankCEX, the fee structure is simplified. Takers and makers are charged a flat fee of 0.10% for each trade.
This fee structure is very competitive when compared to other trading platforms, including other centralized exchanges. Centered exchanges charge anywhere from 0.20%–0.25% on the low end, with new or emerging markets around 0.10%–0.15%.
It’s clear that BankCEX is positioned to be on the lower end of trading costs, making their platform more appealing to active traders.
BankCEX Fees for Making Withdrawals.
When making a withdrawal of Bitcoin on BankCEX, you will pay a fee of 0.0005 BTC for each BTC you withdraw.
This fee is industry standard, and is slightly lower than the industry average fee of 0.000643 BTC for each Bitcoin withdrawal.
If you are someone who regularly withdraws and moves your money to different wallets, you will benefit from those lower fees.
BankCEX Deposit Methods
Because BankCEX only allows cryptocurrency deposits, users won’t be able to enter fiat money such as USD, EUR, or INR to the exchange.
If, as a user, you are inexperienced with crypto and don’t have digital assets, you will first have to buy crypto from an exchange with fiat on-ramps. After you buy it, you can conveniently send it to BankCEX and begin trading.
BankCEX Features
Trade Crypto easily and simply
A one-stop blockchain asset platform with user-friendly features and convenient transactions.
Smooth crypto services based on user experience
The gateway to the crypto world for all, providing multilingual support for global traders.
Shield FundBank
CEX provides an additional level of reassurance on top of our robust security infrastructure – Shield Fund, going above and beyond to safeguard your assets.
Advanced Trading Interface
BankCEX trading interface is user friendly, created for both beginner and advanced traders alike. Users are able to customize interface, charts, data, and trading orders.
Competitive Low Fees
BankCEX has lower average trading fees in the industry which is 0.1 per cent for both makers and takers which is beneficial for portfolio traders and frequent traders.
Strong Security Protocols
BankCEX enables strong protocols with 2 factor authentication and an internal safety check which cold stores user funds, lowering hacking attempts and unauthorized entry and access.
Mobile App Availability
Trading at BankCEX can conveniently be done through a portable app of the platform which is available for both Android and iOS supported devices to access trading features.
Wide Range of Trading Pairs
Users can access a multitude of tradable assets and can reach a variety of trending and less popular, digital currencies in both stable and liquid market.
Security Measures
BankCEX works hard to ensure customers’ safety and privacy policies. The platform uses two-step verification (2FA) to ensure an extra level of verification to keep accounts secure. To maximize safety of customer funds, the exchange keeps the vast majority of customer funds in cold wallets, which are kept offline and safe from the reach of online criminals.
The cold wallets mean that BankCEX cannot be hacked, nor can funds be withdrawn without proper verification. BankCEX goes to great lengths to provide a safe and secure platform for customers to trade on.
Customer Support
BankCEX sponsors an exceptional customer service for all of its users to ensure all problems can be solved in a timely and effective manner. Users can contact support via email, live chat, and all the major social media sites, so help is readily available.
Polished videos and help documents are also supplied so customers can assist themselves to avoid wait times in support. Furthermore, witnessed problems are passed on to the support’s fault-tolerant system so that easy problems can be solved without human involvement.
Conclusion
BankCEX is a trusted cryptocurrency exchange that boasts lower fees as compared to most other exchanges, higher end security along with a seamless trading experience.
The platform has hundreds of trading pairs and caters to both new and advanced traders with a mobile application and dedicated customer service.
The platform’s safety and streamlined functionality is what makes it a go to platform for users who desire a the ability to trade their crypto with ease.
FAQ
What is BankCEX?
BankCEX is a cryptocurrency exchange that allows users to trade a wide range of digital assets with competitive fees, secure storage, and an easy-to-use trading interface.
Is BankCEX safe to use?
Yes. BankCEX implements strong security measures such as two-factor authentication (2FA), cold storage for most user funds, and internal protection systems to reduce the risk of unauthorized access and hacks.
What fees does BankCEX charge?
BankCEX uses a flat trading fee structure of 0.10% for both makers and takers. Withdrawals, such as BTC, have competitive fees like 0.0005 BTC per transaction.
Does BankCEX support mobile trading?
Yes. BankCEX offers a fully functional mobile application for both Android and iOS, allowing users to trade, monitor markets, and manage accounts on the go.
Can I deposit fiat currency on BankCEX?
No. BankCEX only supports cryptocurrency deposits. Users without crypto must first buy digital assets on a fiat-enabled exchange and then transfer them to BankCEX.
