A few years ago, when not many people had an idea of how crypto trading works, the practice was left for whales and other large entities who could trade the digital coins successfully.
However, a decade after the introduction of digital currencies, many exchanges have emerged that make crypto trading an easier task. It is, therefore, not only restricted to whales and other enthusiasts who hold large amounts of digital coins.
Exchanges make it easier for people to trade their cryptos in a secure and transparent platform. But, all traders must do some proper research on the exchange they plan to use to avoid incurring losses brought about by the collapse of the exchange.
BITXMI is the newest kid on the block. The exchange claims to be the lowest trading fees exchange in the world, but how valid are these claims? In this article, we will take an in-depth look at the platform and how it works to help you decide whether or not it is the right choice for you.
What is BITXMI Exchange?
BITXMI is a fast and secure cryptocurrency trading platform that has its headquarters in Singapore. However, the platform operates on a global scale. The exchange is relatively new, having been founded in 2018 by ChainUp company.
Rather than just designing it as an exchange, Bitxmi developers have made sure that the platform provides an all-round ecosystem for its users. Bitxmi aims to offer an educational experience in trading and to invest in digital currencies. Users can quickly and efficiently buy digital currencies using fiat money. The exchange also allows users to pay for their cryptocurrencies using credit and debit cards.
Key Features of the Exchange
BITXMI comes with a variety of unique features that make it an excellent choice for crypto traders. For starters, whales and high volume traders get a fee rebate on their trades. All token holders also get a discount on the withdrawal fees. This discount, however, depends on the number of tokens and the period that the user held the tokens.
To store your funds in the exchange, the platform offers its users cold storage wallets. The funds on the platform are also insured as a safety net.
BITXMI aims for smooth and fast trading. As such, the exchange comes with fast API protocols. Besides, the quick and efficient order matching system combines both buys and sells for better efficiency. The crypto exchange trades on a global scale and, therefore, offers multi-language support. Some of the languages supported include English, Chinese, French, Hindi, Japanese, Russian, Korean, and Arabic.
Is BITXMI Secure?
Before settling for an exchange, you need to be sure of the security measures in place to ensure that your digital assets are always safe.
ChainUp is the platform’s partner and is in charge of cybersecurity and data security through the use of modern software. ChainUp’s reliability is trusted by over 200 crypto exchanges, making it ideal for the platform.
Some of the security measures that ChainUp has put in place include:
- KYC checks
- Sanctions check
- Chargebacks tracking
- Risk management
- Keeping regular records
Besides the actions taken by ChainUp, Bitxmi also complies with the International Sanctions Policy (ISP). The exchange, therefore, does not allow countries, companies, and individuals on the sanctions list to conduct any transactions.
The exchange is also looking for a full license as per the 2019 Monetary Authority of Singapore (MAS) Act.
Joining and Trading on BITXMI
If you have already decided to use Bitxmi as your exchange, you will have to sign up as a member first. Signing up is absolutely free, and as a bonus, new members receive 100 BXMI, the exchange’s native token, once verification is complete.
You will need to sign up on the exchange’s official website https://www.bitxmi.com/en_US/. You get the option to choose the most convenient method to sign up, which could be either by phone, email, or an invitation code.
Once verification is complete, you will receive your free tokens, and you can begin trading immediately.
The exchange does not support margin trading and has no deposit fees. However, trading fees are set at 0.1% and withdrawal fees at 0.25%. The daily withdrawal limit is 3BTC for users without KYC and 99 BTC for those with KYC or eluent coins.
Depositing and withdrawing from the exchange is also quick and straightforward. The user’s dashboard on the exchange’s website is quite easy to use. The options to either deposit or withdraw from the exchange are clearly indicated on the panel. You can also use the QR code to scan and complete your deposit transactions.
By signing up as a member, users also get a hosted wallet that lets them store, track, and manage their digital coins. The exchange also comes with a mobile app that is available for both Android and iOs users, making it easier for users to trade from anywhere.
Taking up crypto trading is never an easy task, especially if you have no prior experience. Besides having to learn the ins and outs of the crypto world, you also need to choose your exchange carefully.
Bitxmi ensures that your trading experience is as smooth as it can be. Although the platform is relatively new as compared to other old dogs in the game, it offers an excellent starting point for new traders.
If you are new to crypto and plan to start trading, Bitxmi is the right spot to start. Still, as it should be the norm with all other exchanges, be sure to always do your background checks before trading with other users on the platform to ensure your assets always remain safe.