A crypto guide must provide reviews of all of the exchanges out there, so that you can find the right one for you. This review of Bex500 consists of four parts: general info, fees, deposit methods and security.
Bex500 is an exchange from Hong Kong. Hong Kong has for a long time been one of the industry leading countries when it comes to crypto exchanges.
This exchange markets five specific things as the main advantages with its platform. First, that it has creative leveraged products. Second, that it is easy to use. Third, that the trading is “professional” (although it is not entirely clear what this means). Fourth, that it is secure and fifth and finally, that you can be anonymous on this platform. These factors are all important, but we would say that the most important aspects are the security aspect and that the platform has a user-friendly interface.
Based on the information we have reviewed on this exchange’s website, US-investors seem to be able to trade here. Any US-investors interested in trading here should in any event form their own opinion on any issues arising from their citizenship or residency.
Most people do their crypto trading on their desktops. But there are people who prefer to do it on their cell phones instead. If you are one of those people, you’ll be happy to know that Bex500 is also available as an app for your iPhone or Android phone.
Bex500 offers leveraged trading on its trading platform. This means that you can receive a higher exposure towards a certain crypto’s price increase or decrease, without having the assets necessary. You do this by “leveraging” your trade, which in simple terms means that you borrow from the exchange to bet more.
For instance, let’s say that you have 10,000 USD on your trading account and bet 100 USD on BTC going long (i.e., going up in value). You do so with 100x leverage. If BTC then increases in value with 10%, if you had only bet 100 USD, you would have earned 10 USD. As you bet 100 USD with 100x leverage, you have instead earned an extra 1,000 USD (990 USD more than if you had not leveraged your deal). On the other hand, if BTC goes down in value with 10%, you have lost 1,000 USD (990 USD more than if you had not leveraged your deal). So, as you might imagine, the balance between risk and reward in leveraged deals is quite fine-tuned (there are no risk free profits).
Bex500 Trading View
Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen crypto and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can see that it feels right to you. This is the trading view at Bex500:
Bex500 Trading fees
Trading fees are naturally very important. Every time you place an order, the exchange charges you a trading fee. The trading fee is normally a percentage of the value of the trade order. At this exchange, they don’t divide between takers and makers. Each party to a transaction pay the same fee here: 0.05% of the order value.
0.05% is far below the industry average. Industry average has for a long time been 0.25%, but we are currently seeing a shift towards lower fees. Many exchanges now charge e.g. 0.10% or 0.15% instead. Irrespective of which industry average you use, Bex500’s trading fees are far lower.
Bex500 Withdrawal fees
To our understanding, Bex500 does not charge any fees of their own when you withdraw crypto from your account at the platform. Accordingly, the only fee you have to think about when withdrawing are the network fees. The network fees are fees paid to the miners of the relevant crypto/blockchain, and not fees paid to the exchange itself. Network fees vary from day to day depending on the network pressure.
Generally speaking, to only have to pay the network fees should be considered as below global industry average when it comes to fee levels for crypto withdrawals.
Bex500 does not accept any other deposit method than cryptos, so new investors are restricted from trading at Bex500. If you are a new crypto investor and you wish to start trading here, you will have to purchase cryptos from another exchange first and then deposit them at this exchange. To find an exchange where you can deposit fiat currency, just use our Exchange Finder and we’ll help you through it.