The Binapex cryptocurrency exchange is a secure crypto platform that allows users to buy, sell and hold cryptocurrencies with ease.
Individuals that want to start using the platform can do so in just a few minutes by creating an account on the exchange.
Some of the most important features include crypto and token exchange, regular and margin trading and a bonus upon registration of $50. If you want to get this registration bonus, you should use the following promo code: 6bcc-b19e-c09b-3f1b.
Experienced and larger traders that use the platform will also have benefits for operating on the Binapex exchange.
Binapex Margin Trading
Given that users are searching for new trading strategies in a market that has been trading sideways for several months, users will be able to use margin trading with Ethereum (ETH) and Bitcoin (BTC).
This is a method that allows traders to borrow funds from the exchange and trade on the margin trading section.
As in every single trading platform, users will have to pay for the order they execute and a percentage for using borrowed funds to open a position. This is known as the maintenance margin, which can change over time.
Users will not only be able to open long positions but also short position, helping them handle their funds in a much more professional way.
However, it is always important to take into account that margin trading is very risky and users should be 100% sure about the risk related to investing with leverage.
Although the returns could be massive and attractive, the possibility of losing the funds increase as well. Moreover, positions that are open for a long time have to pay larger fees as well, which reduces the expected returns.
Binapex Security
Binapex is working in order to keep users’ assets safe and protected against attacks and malicious hackers. This is certainly important considering hackers have been stealing users funds from different crypto platforms.
One of the main features the exchange is offering users to secure their accounts is two-factor authentication (2FA). Although this became a standard measure during the last few years, some platforms are still not offering this feature for clients.
Besides, individuals will have the possibility to use a 5-digit pin-code when they want to have access to different resources on the Binapex website. This provides extra security to clients that are regularly using the platform.
Storing the funds in inline hot wallets has affected the business model of several cryptocurrency exchanges in the last years. This is why Binapex stores the funds in offline vaults that are strictly secured against stealers.
The Japanese cryptocurrency Coincheck was hacked in early 2018 due to holding NEM (XEM) coins in hot wallets. This had a cost for users of around $500 million.
In addition to it, when a user wants to withdraw its funds, the platform’s multi-level control system would require two Binapex employees to confirm it is being processed correctly. This would ensure the funds are safe at all times.
It is worth pointing out Binapex claims they do not keep secret keys at cloud servers. This, combined with offline crypto storage would certainly have a positive effect on security for users.
The exchange explains it works with software and hardware systems that require the platform to handle different hardware tokens. The platform wants to make sure it is always under control of their systems and that they are protected against external attacks.
Furthermore, their servers and systems are usually controlled and audited to be 100% they are not exposed to flaws or bugs that could eventually affect users’ funds. Additionally, this helps the platform remain updated, fast and running smoothly.
Phishing scams and other attacks could severely affect users that are not properly protected against these issues. That’s why the exchange is taking all the necessary measures to avoid being affected by attacks or malicious parties.
Binapex Offers Trading Signals For Free
The cryptocurrency exchange is also offering a currency signals system that allows individuals to have a better idea of when to buy and sell specific crypto assets.
These trading signals are very important for novice traders that are searching for specific indicators that would help them confirm an entry or exit level in a specific crypto trading pair.
Binapex offers these trading signals for free, which is very important considering other platforms and sources offer the same solution but for a fee.
However, Binapex has integrated these signals at the exchange level, which makes it easier for traders to have the necessary information to trade digital assets.
In addition to it, Binapex has created a personal index called (BACIX 100) in which they objectively measure the overall long-term and short-term dynamics of the cryptocurrency market.
The index tracks 100 cryptocurrencies that had the largest market capitalization as of January 1st, 2019.
Binapex Competitive Fees
Binapex has a competitive fee structure that aims at helping traders maximize their profits while trading. Deposits on the platform are free of charge while withdrawals include a small fee of 0.001 BTC and 0.0058 ETH respectively.
Users that have an average monthly volume of executed orders of $100,000 they will have a reduced fee on the market. Users with an average monthly volume of executed orders of more than $1,000,000, the market fee is going to be 0%.
Meanwhile, all the trading fees are capped at 0.2% for users.
Individuals that trade with leverage would need to have a volume of $2,000,000 in executed orders to receive a fee reduction. Clients with a volume of over $20,000,000 using margin trading will have a market fee of 0%.
Currently, other exchanges are increasing their fees, which is making it much more difficult for smaller traders to have competitive trading strategies.
While other platforms apply trading fee discounts, users are required to hold a specific cryptocurrency or token. Meanwhile, Binapex offers this solution to users without the need of holding a specific crypto asset.
Binapex Conclusion
Binapex is a cryptocurrency exchange that offers traditional trading solutions and the possibility for users to trade with leverage.
The platform is currently offering a welcoming bonus of $50 upon registration by using the promo code 6bcc-b19e-c09b-3f1b.
The team behind Binapex is also focusing on security considering there have been several attacks to other crypto platforms.
Another valuable solution the exchange offers is related to crypto trading signals. These allow users to better plan their trading strategies and confirm specific patterns.
If this was not enough, Binapex created a new index called (BACIX 100) that is considered to be diversified, replicable, transparent and representative of the crypto market.
Users can start handling their cryptocurrencies using this platform through their official site.
