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 BigONE consists of four parts: general information, fees, deposit methods and security.
BigONE is an exchange registered in Singapore, but that operates from China.
This platform has a very long list of supported cryptos which can be helpful if you’re looking for something more exotic than Bitcoin or Ethereum.
This exchange is not open to people from the US. If you are a resident or citizen of the US and you’re looking for the trading platform that is just right for you, don’t worry. Use our Exchange Finder to find an exchange accepting investors like you.
If you’re interested in a trading platform that is also available through mobile, then BigONE won’t let you down. They have an application that you can download, both for iPhones or Android-phones.
This platform also has an OTC-desk where you can purchase crypto from other users. You then respond to their advertisements to sell or buy crypto. Payment is possible via Alipay or WeChat Pay.
BigONE 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 BigONE:
BigONE Trading fees
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. Many exchanges divide between takers and makers. Takers are the one who “take” an existing order from the order book. Makers are the ones who add orders to the order book, thereby making liquidity at the platform.
BigONE charges what we call flat fees, meaning that both the takers and the makers - who are new members at BigONE - pay the same fee: 0.20%. These trading fees are quite in line with the global industry averages for centralized exchanges. Sure, industry averages have historically been around 0.20-0.25% but we now see new industry averages emerging around 0.10%-0.15%.
For contract trading, BigONE divides between takers and makers. Takers pay 0.06%, and makers receive a discount to their trading fees and only have to pay 0.02%. These fees are also in line with industry averages, maybe even somewhat lower than industry average.
BigONE also offers trading fee discounts to some of its members, depending upon which membership level you have achieved. There are five levels: Bronze (you start at this level), Silver, Platinum, Diamond and Challenger. The higher the level, the lower is your trading fee. You reach a higher level by earning "Privilege Points", and you earn Privilege Points by having a high trading volume, inviting friends to the exchange etc. Here are the membership levels and their respective trading fee levels:
BigONE Withdrawal fees
BigONE's withdrawal fee is 0.0005 BTC per BTC-withdrawal. This fee is a bit below the industry average. The global industry average BTC-withdrawal fee the last time we at Cryptowisser did a full-blown empirical study of it was approx. 0.0008 BTC per BTC-withdrawal. But today, we see more and more exchanges charging 0.0005 BTC per BTC-withdrawal, so one could argue that 0.0005 BTC is starting to become the new industry average.
At this exchange, they do not accept any deposits of fiat currency to the actual exchange. However, to the OTC-function, you can purchase crypto from other people advertising sales. The available purchase methods in the OTC-function are Alipay or WeChat Pay.
If you prefer to deposit fiat currency and you don’t want to use an OTC-function or any of the available deposit methods mentioned above, you need another exchange. You can find one by using our Exchange Finder.