Thinking of investing in cryptos using Bitforex? Not sure if it’s reliable? Uncover the truth with our review. Is Bitforex legit? Discover now!
Contents
Quick facts: Is Bitforex Legit
- ✅ BitForex is a Legitimate Exchange with Low Fees and High Security – CryptoPotato
- ✅ BitForex is An Established Exchange with High Trading Volume – CryptoVibes
- ✅ BitForex: A Legit Exchange with Low Transaction Fees – Blockonomi
- ✅ BitForex is A Highly-Regulated Exchange – Bitcoin Exchange Guide
- ✅ BitForex Offers Over 150 Digital Assets to Trade – Finder
Introduction
Bitforex is a crypto asset trading platform that serves users globally. Founded in 2018, Bitforex holds offices in Singapore and Taiwan. It is also registered as an MSB (Money Service Businesses) in the US with FinCEN.
The exchange provides over 200 markets including major cryptocurrency pairs, ERC-20 tokens and more. It offers services such as:
- Deposit/withdrawal of Bitcoin, Ethereum, Litecoin and other cryptos;
- Margin trading;
- Futures contracts for 20+ crypto coins;
- Spot trading for gold, silver and other assets;
- Staking; and
- Decentralized monetary resources.
Plus, the platform has a referral program to reward customers for referrals. Bitforex is one of the most renowned exchanges in Asia, used by hundreds of thousands of people. But, is it legit? Read on to find out.
What is Bitforex?
Bitforex is a Singapore-based cryptocurrency exchange. Established in 2018, it was created by a team of blockchain developers and financial experts.
Bitforex offers a variety of services including: crypto-to-crypto trading, crypto-to-fiat trading, margin trading, spot trading, staking rewards, lending, and much more. It supports trading pairs for cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and others.
The platform also provides users with numerous security measures. These include two factor authentication, anti-money laundering protocols, DDoS attack protection, and transaction monitoring.
Bitforex is a great choice for traders looking to buy and sell cryptos quickly and safely. The platform is user-friendly and offers great liquidity for each of the assets listed. Additionally, they accept fiat currencies such as USD or Euro as deposits. This makes Bitforex stand out from other exchanges when it comes to convenience.
History
Bitforex is a crypto exchange, launched in 2018 by G21, a Dubai-based investment firm. It has grown fast, with 24-hour volume of up to US$400 million. Bitforex has offices in Singapore, the UK and Korea.
It offers a wide selection of trading pairs, with relatively low fees. The platform supports over 200 coins and tokens. You can also trade with fiat currencies, such as USDT, CNYT and KRW. There’s also the BF (BitForex Token), which can be used to pay fees on the platform.
Services
1aauto offers a range of services – from selling car, truck and SUV parts & accessories, to renting tools such as scanners and diagnostic equipment. In the US, they offer fast delivery, and free shipping when orders are over $75. Plus, they have a loyalty program that rewards customers with discounts and special offers, based on the number of purchases they make.
The pros of 1aauto are:
- online chat support
- discounts & special offers through the loyalty program
- free shipping for orders over $75
- speedy delivery in the US
The cons include:
- limited coverage outside the US
- no option to buy items directly from 1aauto’s website – customers must order through third-party retailers.
Is Bitforex Legit?
Is Bitforex Legit? This question relies on experience and research.
Bitforex is one of few exchanges that provides cold storage for Bitcoins. So, it’s more secure than most.
It has proven itself to be reliable many times in terms of deposits and withdrawals. Plus, customers report swift response to issues.
It appears that Bitforex is a safe platform for crypto trading and ICOs. However, reliability depends on individual experience and research.
Security
Security is essential when selecting an exchange. Bitforex has taken many steps to ensure security. User data is stored securely and all transactions are encrypted. Two-factor authentication is used to make sure only approved users can access accounts. BitForex also meets EU General Data Protection Regulation (GDPR) standards. It regularly evaluates its security protocols to bolster systems.
Despite these safety measures, BitForex still encourages users to stay alert against phishing and malware.
Fees
Bitforex is highly competitive when it comes to fees. No deposit fees. For trading, 0.1% for makers and 0.2% for takers. These are not the lowest, but very competitive compared to others. Plus, BF tokens offer discounted fees. Makers get 50% off. Takers get 25% off.
User Reviews
Reddit users are a great source of insight into whether Bitforex is trustworthy. Their experiences give honest opinions. It is wise to take all reviews into account before signing up for an exchange.
Lots of Redditors compliment the customer service. They report that responses were fast and helpful. Plus, people like the low fees when trading large amounts.
But, there are some bad reviews. Users complained about unexpected delays in transactions. This has raised suspicions of fraud. It’s essential to collect as much info as you can before joining any trading platform.
Conclusion
Analysis and research shows that Bitforex is legit. It has top-notch security, great customer service and lots of account options. Margin trading, IEOs, staking rewards – these are some of the features that users love. Bitforex is a safe exchange with low fees. Buy, sell and trade digital assets with confidence!
FAQs about: Is Bitforex Legit
Q: Is Bitforex legitimate?
A: Yes, Bitforex is a legitimate global digital asset trading platform registered in Seychelles.
Q: Does Bitforex offer customer support?
A: Yes, Bitforex offers customer support via email, chatbot, and telephone.
Q: Are there any fees associated with using Bitforex?
A: Yes, Bitforex charges a 0.1% trading fee for each trade made on the platform.