UPDATE 11 January 2022: When trying to access the website of BHEX today, we were unsuccessful. There have been no preceding messages on system maintenance or new websites or anything similar.
Accordingly, we believe that this exchange has closed down and we have marked it as "dead" in our Exchange Graveyard. If the exchange's website would become accessible again and the error is just temporary, we will "revive" it and bring it back to our Exchange List.
To find a reliable exchange where you can start an account, just use our Exchange Filters and we'll help you find the right platform for you.
What is BHEX?
BHEX (which is short for Blue Helix Exchange) is an exchange from Malta that launched in December 2018. It describes itself as the “next generation innovative crypto assets financial services provider”. BHEX is not only an exchange trading platform,. It also offers the BHEX DeFi Market(BHDM), something called the BHEX Chain and a number of Matrix/SaaS Cloud Exchange system solutions.
On the date of last updating this review (2 December 2021) the 24-hour trading volume was USD 707,798 according to Coinmarketcap. To put it in perspective, on 16 March 2020, the trading volume was USD 1.51 billion. Although the trading volume in this exchange is still a fairly decent amount, this sharp drop in liquidity should not be overlooked.
BHEX’s selection of trading pairs is somewhat limited though. They have 25 trading pairs possible to trade.
The exchange states on its website that it has the backing of 56 institutional investors. Among these investors, BHEX lists Huobi and OKEX, two of the biggest other cryptocurrency exchanges in the world.
BHEX’s trading platform is not only available on desktop, but also through mobile usage. This means that as long as you have mobile data reception, you can execute your trades.
At this exchange, you can also engage in options trading. When you do option trading you purchase option contracts. An option contract is an investment contract that gives the holder of the option a right – but not an obligation (thus an “option”) – to buy (call option) or sell (put option) a certain asset at a certain price. Certain options give you the right to exercise the option whenever (before expiry of the contract), and other options are only permitted to exercise during a specific date. The former are known as American Options, and the latter are known as European Options.
If you’re a US-investor that wants to trade here, you’re unlucky. BHEX does not accept US-investors on its platform. Don’t be too sad though, if you’re a US-investor, you can always use our Exchange Finder to find out which trading platforms that you are allowed to trade at.
BHEX 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 BHEX:
BHEX Trading Fees
The trading fees at BHEX are 0.10% per trade. This means that the exchange does not distinguish between takers and makers. 0.10% per order is a competitive trading fee, substantially below the classical global industry average trading fees (arguably 0.25%). However, a majority of the cryptocurrency exchanges that have launched the last year or so do actually only charge 0.10% or 0.15%, so one could argue that the new global industry average is actually somewhere around 0.10%-0.15%. This would make BHEX’s fees in line with, and not substantially below, industry average.
In any event, you can be sure that the fees are not above industry average.
BHEX Withdrawal Fees
When considering the fees charged by an exchange, many investors just look at the trading fees. This can potentially cater for a nasty surprise when you want to withdraw your funds after a successful trading period. Then, hefty withdrawal fees might make you wish that you had also considered them (the withdrawal fees), when choosing your exchange.
The global industry average BTC-withdrawal fees are 0.000812 BTC. This figure was calculated by us here at Cryptowisser when we compiled the withdrawal fees of 200+ exchanges. BHEX charges 0.0006 BTC when you withdraw BTC. Their withdrawal fees are thus almost 30% below the global industry average and constitute a competitive advantage for this trading platform.
This trading platform does not accept any other deposit method than cryptos, so new crypto investors are actually restricted from trading here. If you don’t have any crypto but want to start trading at this trading platform, you will first have to purchase crypto from another exchange and then deposit them here. Don’t worry though, we will help you find an exchange where you can purchase your first cryptos by the help of our Exchange Finder. Do the test there now and you will see what alternatives you have.