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 cryptocurrency exchange from the UK.
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 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 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, so Bexplus’s fee is competitive but not much more.
Bexplus Withdrawal fees
Many exchanges have competitive trading fees but then hit you on the way out with their withdrawal fees. Let’s say you have reached your investment goals and you are looking to buy house with bitcoin. In order to buy that house, you need to withdraw the funds. And when doing so, the exchange can make up for its low trading fees by charging you high withdrawal fees when you’re halfway out the door.
Not Bexplus though. They have a competitive withdrawal fee sitting at 0.0005 BTC when you withdraw BTC, which is also below industry average.
At Bexplus, you can deposit through credit cards, but not via wire transfer. It is usually the other way around. Credit card deposits can be particularly helpful for newer crypto investors. One should generally look out for the different deposit fees charged by exchanges for deposit of fiat currencies via wire transfer or credit cards, and whereas it might be indifferent to you whether you should deposit via wire transfer or credit card, it might be very different fees.
Bexplus ’s security score is F, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). The score in such test is one of many indicators of the exchange’s security. When looking at all the exchanges in our Cryptocurrency Exchange List, the majority of all the exchanges actually receive an F-score.
Low trading fees are indeed very important for any prospective cryptocurrency investor. All of the following exchanges also – like the above exchange – have very low trading fees. Some of them don’t even charge trading fees at all.