24H Volume

Coming soon!

BCEX

3 from 4 votes
Hong Kong

Fees

Taker fee

0.2%

Maker fee

0%

Withdrawal fee

0.50%

Funding methods

Wire transfer

Credit card

Other crypto

US investors permitted


BCEX Review

A trading cryptocurrency guide must provide reviews of all of the top crypto exchanges out there, so that you can find the best cryptocurrency exchange site for you. This review of BCEX consists of four parts: general information, fees, deposit methods and security.

General Information

BCEX is an exchange based in Hong Kong. There are loads of coin exchanges from Hong Kong. Hong Kong is in a way the Mecca of cryptocurrency trading. A non-exhaustive list of competitors to this exchange on its home turf is Binance, Bit-Z, KuCoin, Gatecoin, BitFlip and CoinEx Market.

But, unfortunately for US-investors, BCEX prohibits US-investors from trading on its exchange. Interested US-investors must therefore refer to any of the other top crypto exchanges available on the market. Luckily for them, they can easily use the Exchange Finder tool to find another cryptocurrency exchange similar to BCEX that does allow US-investors.

BCEX Fees

BCEX Trading fees

The fees at any exchange are very important to consider. BCEX’s trading fees are different from most other top crypto exchanges in the sense that it does not charge different fees for takers and makers. Instead, it charges fees based on whether you are a buyer or a seller. It is only the sellers who pay trading fees. BCEX’s fees for sellers is 0.20%. Accordingly, if you are only looking to buy crypto and not sell, this trading fee structure is perfect for you. Maybe it even makes this exchange the best cryptocurrency exchange site for you.

BCEX Withdrawal fees

BCEX charges a withdrawal fee for “Other Tokens” amounting to 0.50%. Percentage based withdrawal fees are unusual and only 9 other exchanges that we know of have percentage based withdrawal fees. Out of these 10 exchanges having percentage based withdrawal fees, only three of them (FreiExchange, LEOxChange and Trustdex) have higher fees (2.00%, 1.00% and 1.00%, respectively). All other cryptocurrency exchanges out there have fixed fees, not related to the size of the withdrawn amount.

With the fee model that this exchange has, when you withdraw small amounts, it is beneficial to you. If you withdraw 0.01 BTC, the withdrawal fee becomes 0.00005 BTC (extremely low). However, if you withdraw 10 BTC, the withdrawal fee becomes 0.05 BTC (extremely high). Please consider whether this withdrawal fee suits your own trading or not.

Deposit Methods

Unfortunately for new cryptocurrency investors, BCEX does not accept any other deposit method than cryptocurrencies. This means that if you don’t hold any crypto and want to start trading here, you need to first purchase cryptocurrency elsewhere and then – as a second step – deposit such cryptocurrencies at BCEX. To find the best cryptocurrency exchange site for you where you can buy your first cryptos, use our Exchange Finder and we’ll guide you through it.

Security

One might ask why security is even a feature that we at Cryptowisser have looked for at the different top crypto exchanges. The answer is two-fold:

  • Exchanges store a massive amount of valuable personally identifiable information, which can be anything from names to addresses, to government identification details, taxpayer identification number and a lot more.
  • Exchanges operate a lot of cash or coin deposits and withdrawals which can be significant amounts.

Consequently, we have performed the test at Observatory by Mozilla (https://observatory.mozilla.org/) to find BCEX’s score. BCEX’s score is F, which is below industry average when it comes to top crypto exchanges.

***

If you have concluded that this is the exchange for you, then congratulations! Go for it. But if not, please use our Exchange Finder. The rest is simple.

Good luck!

BCEX compared with other cryptocurrency exchanges
Cryptowisser – Your Trading Cryptocurrency Guide