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 Bexplus consists of four parts: general information, fees, deposit methods and security.
Bexplus is a global crypto derivatives trading platform established in late 2017. The company is registered in Saint Vincent and the Grenadines. Bexplus has offices in Singapore, Japan, the US, and Brazil and is constantly expanding worldwide.
United Kingdom is the country that has the most cryptocurrency exchanges in the world. At least that we know of. In our Cryptocurrency Exchange List, we list the following UK-exchanges (in addition to this one): Altmarkets, Exmo, CEX.io, CoinEgg, ExtStock, Livecoin, DSX, LocalTrade, Bittylicious, CoinMate, Indacoin, MixCoins, Paybis, Vaultoro, XCH4NGE, Rfinex, Cryptonex, N.Exchange, Bitcoinfive, Cryptomate, Trade Satoshi, Luno, CoinFalcon, Bitstamp, Coinfloor, Gatehub, BTC-Alpha, Xena Exchange and Instant Bitex.
To our knowledge, US-investors may trade here.
Most people do their trading on desktop. However, there are also a fair share of people out there that prefer to do their cryptocurrency investments via mobile. If you’re one of those people, you’ll be happy to know that Bexplus is also available as a mobile application. You can download it from both the AppStore and Google Play.
Bexplus offers 100x leveraged trading on its trading platform. This means that you can receive a higher exposure towards a certain cryptocurrency’s price increase or decrease, without having the assets necessary. You do this by “leveraging” your trade, which in simple terms essentially 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., increasing 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 additional 1,000 USD (990 USD more than if you had not leveraged your deal). On the other hand, if BTC decreases 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).
Bexplus gives 10 free BTC for every registered user to do the demo trading.
There are currently only a few exchanges that provide simulated transactions, thus it is quite friendly for novices, you can try out different strategies as much as you like.
Here are some highlighted features：
1. It is risk free. Without costing any real funds, you are able to test your strategies under risk-free circumstances, and form your own trading style.
2. It gives you experience. If you are a crypto beginner, it is the best way for you to get familiar with the market by practicing opening and closing positions, applying stops and limits. In addition, you can view margin requirements as well as track the profit and loss. If you are an advanced crypto trader, you can accumulate technical analysis and methods by trading different pairs and try different portfolios in the simulator, which can strengthen your fundamental skills.
3. It offers you the opportunity to take notes and learn. By taking notes and analyzing your trading performances, you can correct the mistakes you make and form your trading strategies before starting with any real money.
4. It give you a chance to control and train your emotions. With long-term demo trading, you can observe yourself during the process, and figure out what kind of investor you are and adjust yourself, which is helpful to build up a stable mood and attitude towards the real market
To conclude, practicing in a trading simulator is actually a training of emotion management and experience accumulation.
Bexplus 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 cryptocurrency 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 ascertain that it feels right to you. The below is a picture of the trading view at Bexplus:
Bexplus Trading fees
Many exchanges charge what we call taker fees, from the takers, and what we call maker fees, from the makers. Takers are the people removing liquidity from the order book by accepting already placed orders. Makers are the ones placing those orders. The main alternative to this is to simply charge “flat” fees. Flat fees mean that the exchange charges the taker and the maker the same fee.
This exchange offers a flat fee of 0.075% per trade. The majority of exchanges offering derivatives trading actually charge 0.075% in taker fees. Bexplus also charge 0.075% in maker fees. With respect to maker fees, there are many exchanges in our Exchange List that offer discounted maker fees or even negative maker fees (meaning that you get paid to trade).
Bexplus Withdrawal fees
When withdrawing BTC from the Bexplus trading platform, you will have to pay 0.0005 BTC. To our knowledge, the only empirical withdrawal fee study that has been made was the one we at Cryptowisser.com made some time back. That study showed that the industry average BTC-withdrawal fee was around 0.0006 BTC per BTC-withdrawal. Bexplus's withdrawal fees are thus slightly lower than that global industry average BTC withdrawal fee.
To summarize, both the trading fees and withdrawal fees charged by this platform are very competitive.
In order to trade here, you must have cryptocurrency to begin with. The only asset class you can deposit to Bexplus is Bitcoin. However, if you really like Bexplus but you don’t have any BTC yet, you can easily start an account with an exchange that has “fiat on-ramps” (an exchange where you can deposit regular cash), buy crypto there, and then transfer it from such exchange to this exchange. Use our Exchange Filters to easily see which platforms that allow wire transfer or credit card deposits.
It might also be worth mentioning here that there is no KYC at Bexplus, meaning that the platform does not collect any personal information from its users.