Bexplus is a trading platform that is based on Bitcoin. This is a platform with 100X leverage, implying that the users can make a hundredfold more profit compared to their normal ones. At the same time, the user can face equal losses if proper risk management strategies are not being used by them. We will have a look at the Bexplus review.
Bexplus allows users to try their hands at trading via a demo account before investing their money in this trading strategy. Along with that, the user might enjoy its increased privacy, 100% welcome bonus, helpful desk of customer service, and a 100% Bexplus interest bearing wallet.
Bexplus Review: Key Features
Bexplus is always loyal to its niche, providing no more or less than margin trading. Their notable feature offers:
- An interest bearing wallet: This feature allows the user to earn up to 30% extra income per annum as long as a user is an active trader and earns more than the amount that is being set.
- A 100% Welcome Bonus: This is for the first deposit of the users which is up to 10 BTC for a more smoother approach to trading that also might offer you much bigger profits.
- A Completely functional mobile application: This allows you to turn on the notification so you can be on top of your trading game wherever you are.
- A Demo Trading Account: If you wish to get more familiar with the trading platform or even the trading strategy itself, with 10 BTC in it for risk free trading.
- A Privacy Oriented Platform: This platform does not force any checks on KYC, implying that you get to protect your privacy.
Bexplus Review: Background And History
Global digital currency derivatives trading channel Bexplus was established in late 2017 and is registered in the Grenadines and St Vincent. They presently have offices in Japan, Singapore, the US, and Brazil. The team includes “seasoned blockchain experts,” as the team inserts it, along with those with important experience in the financial sector and also Internet professionals.
Bexplus is authorized by Saint Vincent and the Grenadines Financial Services Authority (SVGFSA). As they do not conduct any KYC checks, this implies that customers from across the globe can sign up. Even though many digital currency exchanges are banned in the U.S, Bexplus is permitted. It has derived MSB (Money Services Business), which implies that it can carry on business in the United States.
There are also no tiers of account: all users have similar access levels and are subject to the similar rules and fees that are levied on them. With no forced Know Your Customer (KYC), this implies anyone who is interested in leverage trading can sign up within seconds and begin to trade. However, crypto trading is not legal in all authorities, so ensure to check with your legal or tax advisor before you start to trade on Bexplus.
The charges of Bexplus for every transaction: in a USDT pairing, Bitcoin transactions will have a charge of 0.075%, for Ethereum, it’s 0.151 percent, for Litecoin, it is 0.193 percent, while both Bexplus XRP and EOS transactions are charged at 0.195 percent. This is irrespective of whether both place a taker or maker order. An extra 0.1 percent loan interest is levied in the case of overnight financing.
After your Bexplus login, forced liquidation takes place when the margin rate of your account attains 30 percent or less. Besides, when your profit position attains a net 85 percent of your account value, the equivalent positions are inevitably closed for a profit.
In this Bexplus review, it is important to mention that Bexplus does charge a 0.0005 Bitcoin withdrawal fee when it is about deposit and withdrawal charges, which also includes a Bitcoin transaction fee. Deposits to Bexplus are free, except for the network charges.
All of the transactions and fees in the Bexplus platform are settled in Bitcoin, but the fees are comparatively low, especially when compared to more regulated margin trading platforms.
How Secure Is Bexplus?
Bexplus keeps most of its cryptos in cold wallets, which enables them to be completely unattainable by malicious actors. Users can activate 2FA (two factor authentication) when they are logging in, while the site itself is fully encrypted with SSL technology and provides protection against DDoS attacks. The security measures of this exchange have not been rated by any external proficient on the matter.
Deposit And Withdrawal Methods Of Bexplus
Bexplus accepts Tether (USDT), Ripple (XRP), Ethereum (ETH), Bitcoin(BTC), Litecoin (LTC), and EOS deposit, but it only supports withdrawals in BTC. The user will be able to exchange their deposited digital currencies on the platform to BTC and trade supported digital currencies, like BTC or ETH or DOGE or LTC or XRP, but they cannot withdraw anything other than Bitcoin. While restrictive, this can also be thought of as a simpler approach.
There is no amount set as a limit for the deposit, and no fee for the deposit service is charged. But you have to keep in mind that this exchange will charge a flat 0.0005 BTC service fee for every withdrawal. Once your withdrawal request is submitted, you will get a withdrawal address confirmation email that you will have to reply to before your withdrawal departs through, as an added measure of security.
Bexplus Review: Verdict
After this Bexplus review, it can be concluded that Bexplus is a decent digital currency derivatives trading platform that works exactly what it asserts to and nothing more. This implies the user will not have to navigate complex features and options until they find what they are looking for. They can also keep their right to privacy safe as the platform does not force the user to go through KYC steps, while their demo trading account will allow them to practice without committing real money. This implies that a platform is a great option for newcomers and veteran traders who wish to use leverage trading to boost their profits.