BexBack — Review

BexBack Review

BexBack is a cryptocurrency exchange platform designed for trading popular digital currencies, including Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Ripple (XRP), and Solana (SOL). It offers unique features tailored to traders of all levels, such as:

• High-leverage trading: Users can trade with leverage up to 100x, amplifying their buying or selling power.
• Zero slippage: Ensures that trades are executed at the expected price, providing a seamless trading experience.
• User-friendly interface: Simplified for beginners but equipped with advanced tools for seasoned traders.
• Bonus programs: Includes promotions like deposit bonuses and referral incentives, which are attractive for onboarding new users.

BexBack stands out as a forward-thinking cryptocurrency trading platform, combining robust features, regulatory compliance, and community focus. With its user-centric approach, transparent policies, and global presence, it aims to redefine crypto trading experiences for beginners and professionals alike.

Here’s an expanded explanation of each point with more details, examples, and practical insights:

BexBack Review — Deposit Bonus

The Deposit Bonus on BexBack is a promotional feature where the platform offers additional funds as a reward for depositing cryptocurrency or fiat into your trading account. This bonus is aimed at encouraging users to start trading or to trade with higher volumes.

What is the Deposit Bonus?

• A percentage-based reward added to your account when you deposit funds. For instance, BexBack often runs a 100% deposit bonus, which means if you deposit 1 BTC, the platform credits an additional 1 BTC as a bonus.
• Helps users amplify their trading capacity without additional investment.

How to Claim the Deposit Bonus

1. Register: Ensure you have a verified account on BexBack.
2. Make a Deposit: Deposit a supported cryptocurrency or fiat amount into your account.
3. Bonus Activation: Follow specific steps (e.g., filling out a bonus claim form or entering a promo code) to activate the bonus.
4. Start Trading: The bonus is added to your trading balance, allowing you to use it immediately for leveraged trading.

Key Features

• Doubling Your Deposit: A 100% bonus means you can trade with double the amount you initially deposited.
• Example: Deposit $500 → Receive $500 bonus → Trade with $1,000.
• Leverage Compatible: Combine the bonus with leverage for greater trading power.
• Example: With 10x leverage and a $1,000 balance (including bonus), you control $10,000 in trading volume.
• Flexible Usage: The bonus can be used for any supported trading activity on BexBack.

Terms and Conditions

1. Trading Requirement: You may need to trade a certain volume to unlock or withdraw the bonus amount.

• Example: For a $500 bonus, you might need to trade a total volume of $5,000 (10x turnover).

2. Withdrawal Rules

• The bonus itself might not be withdrawable, but profits earned using the bonus are.
• Example: If you profit $200 using a $500 bonus, the $200 can be withdrawn.

3. Validity: Bonuses often have an expiry period, like 30 days, after which they might be revoked if not utilized.

Benefits of the Deposit Bonus

• Increased Trading Capital: Allows users to take larger positions in the market.
• Reduced Risk: Provides a cushion for experimentation, especially for beginners.
• Enhanced Profit Potential: Amplifies returns when combined with leverage.
• Example: Without the bonus, a 2% gain on a $500 trade is $10. With a $1,000 balance (bonus included), the same 2% gain becomes $20.

Cautions

1. Read the Fine Print: Always check the bonus terms to understand trading and withdrawal requirements.
2. Avoid Over-Leverage: While the bonus increases trading capacity, it also amplifies risks. Trade cautiously.

The Deposit Bonus is a great way for traders to boost their account balance and explore BexBack’s trading features with less personal capital at stake. However, always trade responsibly and understand the conditions tied to any promotional offer.

Demo Account

Every user registration includes a demo account credited with 10 BTC, with unlimited recharge options. This allows you to practice leverage trading and experiment with different strategies without any financial risk. It’s an ideal choice for beginners looking to get comfortable with trading.

Trading on BexBack

Trading on BexBack allows users to engage in the cryptocurrency market with advanced tools and features designed for profitability and ease of use:

What is Trading?

• Trading involves buying and selling cryptocurrencies to make a profit. For instance, if you buy Bitcoin at $30,000 and sell it at $35,000, you earn $5,000 (excluding fees).

How BexBack Helps

• Offers tools for technical analysis to predict price movements.
• Provides a user-friendly interface for both mobile and desktop users.
• Enables leverage trading to maximize returns.

Trading Rules

BexBack has specific rules in place to ensure a smooth and fair trading experience for all users.

Key Rules

Order Types

• Market Orders: Execute trades immediately at the current price. For example, if Bitcoin is priced at $30,000, your trade will be executed at or close to this price.
• Limit Orders: Set a price you want to buy or sell at. For example, you might place a limit order to buy Bitcoin at $28,000. The trade executes only when the price drops to this level.

Leverage Trading:

• BexBack allows leverage up to 100x. This means you can trade with 100 times the amount you have in your account.
• Example: With $100 and 50x leverage, you control $5,000 worth of a cryptocurrency. If the price increases by 5%, you earn $250, but if it decreases by 5%, you lose $250 (or your margin gets liquidated).

Liquidation

• If your losses exceed your margin, your position is automatically closed to prevent further losses.
• Example: Trading Bitcoin with $100 and 50x leverage (controlling $5,000), a 2% drop in price can liquidate your position.

Risk Management

• Use tools like stop-loss orders to minimize losses. For instance, if you buy Bitcoin at $30,000, you might set a stop-loss at $28,000 to limit your potential loss to $2,000.
• Take-profit orders lock in gains. For example, if you aim to sell Bitcoin at $35,000, a take-profit order will automatically execute the trade when the price hits this target.

Contract Statements

BexBack specializes in perpetual futures contracts, which are unique compared to traditional futures.

Key Features

• No Expiration: Unlike traditional futures contracts, these have no end date, allowing traders to hold positions indefinitely as long as margin requirements are met.

Funding Mechanism:

• Perpetual contracts use a funding rate system to keep prices aligned with the underlying spot market.

Example: If the funding rate is 0.01%, you pay (or receive) this amount periodically depending on your position (long or short).

Practical Example

• A trader takes a long position on Ethereum with a perpetual contract at $2,000.
• If the price rises to $2,200, the trader can close the position, realizing a profit of $200 per contract (minus fees).

Price Index

The price index is a composite measure used to determine the fair market price of cryptocurrencies.

How It Works

Source of Data

• Aggregates prices from major exchanges (e.g., Binance, Coinbase, Kraken) to calculate an average.

Why It Matters

• Ensures fairness by reducing price manipulation risks.
• Used to settle trades and calculate funding rates.

Example

• Bitcoin’s price on three exchanges:
• Binance: $30,200
• Coinbase: $30,000
• Kraken: $30,100
• The price index would average these prices to determine a fair market price, such as $30,100.

Service Fee

BexBack charges various fees to support its platform and ensure smooth operations.

Types of Fees

Trading Fee:

• A percentage fee on each trade (e.g., 0.1% per trade).
• Example: If you trade $10,000 worth of Bitcoin, the fee would be $10.

Funding Fee

• Applies to perpetual contracts and depends on the funding rate at the time.
• Positive or negative funding rates determine whether long or short traders pay.
• Example: If you hold a position and the funding rate is 0.02%, you may pay $2 for a $10,000 position.

Withdrawal Fee

• A fixed or percentage fee when withdrawing funds from your account.
• Example: If the withdrawal fee for Bitcoin is 0.0005 BTC and you withdraw 1 BTC, you’ll receive 0.9995 BTC.

Transparent Fee Structure

• BexBack provides a detailed fee schedule on its platform, ensuring users are aware of costs before trading.

Trading Sample

Let’s walk through a detailed example of a trading scenario on BexBack.

Example

1. Deposit Funds

• You deposit $500 into your BexBack account.

2. Choose Leverage

• You select 10x leverage, allowing you to control $5,000 in trading volume.

3. Place Order

• Bitcoin is priced at $30,000. You use your $5,000 to buy 0.1667 BTC (5,000 ÷ 30,000).

4. Monitor Position

• Bitcoin rises to $31,000. Your position value increases to $5,166.67.

5. Close Position

• Selling your position locks in a profit of $166.67 (before fees).

6. Calculate Return:

• Without leverage, your $500 would have earned only $16.67. With leverage, your profit is amplified 10x.

Risk Consideration

If Bitcoin’s price had dropped to $29,000, your position would decrease to $4,833.33, resulting in a loss of $166.67. With leverage, it’s crucial to monitor trades closely and use risk management tools.

BexBack offers a robust and feature-rich platform for cryptocurrency trading, focusing on:

• Advanced trading tools.
• Clear and fair rules for trading and fees.
• Transparency through its price index and contract system.
• Educational and support resources to help traders at all levels.

By following trading rules, understanding fees, and using leverage responsibly, BexBack enables users to explore the dynamic cryptocurrency market effectively.

About BexBack

Headquarters and Offices:

• Global Presence: Headquartered in Singapore, BexBack has expanded its operations globally with offices in Hong Kong, Japan, and the United States, reflecting its ambition to cater to diverse international markets.
• 24/7 Support Centers: These offices ensure customer support across time zones, providing a seamless experience for users.

Services Offered

• Perpetual Futures Contracts: Specializes in these contracts, allowing traders to speculate on the future prices of cryptocurrencies without expiration dates.
• Risk Management Tools: Features like stop-loss orders and margin calculators help traders minimize risks.
• Diverse Crypto Assets: Apart from mainstream coins, BexBack supports lesser-known altcoins, broadening investment opportunities.

Security Measures

• Distributed Servers: Operates on a network of distributed servers to minimize downtime and enhance operational security.
• Cold Wallets: Funds are stored in multi-signature cold wallets, ensuring assets are kept offline and protected from cyberattacks.
• DDoS Protection: Advanced defenses mitigate risks of distributed denial-of-service attacks.

Regulatory Compliance

• Fully complies with U.S. FinCEN MSB (Money Services Business) regulations, ensuring legitimacy and operational transparency.
• Adheres to anti-money laundering (AML) and know-your-customer (KYC) standards in applicable jurisdictions, even though it promotes no-KYC trading for certain segments.

Privacy Policy

BexBack is committed to safeguarding user data and outlines its privacy principles clearly:

Information Collection

• Collects both mandatory data (like names, emails, and IDs) for compliance and optional data (like preferences) for a personalized experience.
• Tracks activity for analytics, but anonymizes data to respect user privacy.

Use of Information

• Facilitates account management, trade execution, and customer support.
• May use anonymized data to enhance platform performance and user experience.

Data Protection

• Regular security audits and encryption mechanisms protect sensitive data.
• Employs GDPR-compliant protocols for users in the EU.

User Rights

• Users can request data removal, subject to compliance with regulatory retention requirements.
• Transparent grievance mechanisms allow users to address privacy concerns.

Regulatory License

BexBack’s FinCEN MSB license adds credibility and reassures users about its regulatory adherence:

Significance

• Demonstrates compliance with U.S. financial laws, crucial for users concerned about the legitimacy of crypto platforms.
• Encourages trust among institutional investors and retail traders.

Verification

• The license can be independently verified on the FinCEN MSB Search platform, enhancing user confidence.

Affiliate Program

BexBack’s Affiliate Program incentivizes users to promote the platform and earn rewards:

Commission Structure:

• Offers competitive rates, where affiliates can earn a percentage of trading fees from their referred users, potentially generating passive income.
• High-performing affiliates may qualify for bonuses or increased commission tiers.

Marketing Materials:

• Provides banners, social media templates, and unique tracking links to affiliates, simplifying promotional efforts.
• Personalized dashboards help affiliates monitor their performance.

Compliance

• Affiliates must follow ethical marketing practices and comply with BexBack’s guidelines.
• Misleading promotions or violations can lead to program termination.

Feedback

BexBack actively seeks user input to improve its services:

Submission

• Users can provide feedback via a dedicated feedback portal or customer support channels.
• Anonymous suggestions are also considered, fostering openness.

Response

• Feedback is categorized into feature requests, complaints, and general inquiries.
• Prioritized based on user impact, with regular updates shared on the platform.

Community Engagement

• Periodic surveys and interactive Q&A sessions encourage a two-way dialogue with the user base.

BexBack is a cryptocurrency exchange platform that offers a range of services to facilitate seamless trading experiences for both beginners and experienced traders. Here’s an overview of its key features and processes:

BexBack’s Help Center is a comprehensive resource designed to assist users in navigating the platform and resolving common issues.

Accessing the Help Center:

• Visit the BexBack Help Center to find categorized articles an guides.

Categories Available

• Deposits and Withdrawals: Information on how to fund your account and withdraw assets.
• Beginner’s Trading Guide: Step-by-step instructions for new traders.
• Account Security and Privacy: Tips on protecting your account.
• Registration and Login FAQs: Solutions to common account access questions.

Using the Help Center

• Utilize the search function to quickly find relevant articles.
• Submit a request for personalized assistance if needed.

Deposits and Withdrawals

Managing funds on BexBack is straightforward, with support for various cryptocurrencies.

Depositing Funds

• Supported Cryptocurrencies: BTC, ETH, USDT (ERC-20), and USDC.

Process:

1. Log in to your BexBack account.
2. Navigate to the “Deposit” section.
3. Select the cryptocurrency to deposit.
4. Copy the provided deposit address.
5. Initiate the transfer from your external wallet to this address.

Confirmation: Wait for network confirmations; the time varies by cryptocurrency.

Withdrawing Funds

Process

1. Go to the “Withdraw” section in your account.
2. Select the cryptocurrency to withdraw.
3. Enter the destination address and amount.
4. Confirm the withdrawal request.

Fees: Withdrawal fees may apply; refer to BexBack’s fee schedule.

Important Considerations:

• Ensure the accuracy of deposit and withdrawal addresses to prevent loss of funds.
• Be aware of minimum deposit and withdrawal amounts.

Beginner’s Trading Guide

BexBack provides resources to help newcomers start trading confidently.

Key Concepts

• Margin Trading: Borrowing funds to trade larger positions.
• Limit Orders: Setting specific prices to buy or sell assets.
• Perpetual Contracts: Futures contracts without expiration dates.

Getting Started

• Registration: Create an account using a valid email and secure password.
• Security Setup: Enable Two-Factor Authentication (2FA) for added protection.
• Depositing Funds: Add cryptocurrency to your account to begin trading.

Trading Process

• Choose a trading pair (e.g., BTC/USDT).
• Decide on order type: market or limit.
• Enter the amount to trade.
• Review and confirm the order.

Risk Management

• Stop-Loss Orders: Automatically sell assets to prevent excessive losses.
• Take-Profit Orders: Lock in profits when assets reach a desired price.

Account Security and Privacy

Protecting user accounts is a top priority for BexBack.

Two-Factor Authentication (2FA):

Enabling 2FA:

1. Access account settings.
2. Select “Enable 2FA.”
3. Follow prompts to link an authenticator app.

Benefits: Adds an extra layer of security beyond just a password.

Account Security Tips

• Use strong, unique passwords.
• Regularly update security settings.
• Be cautious of phishing attempts.

Privacy Measures:

• BexBack is committed to protecting user data and does not require KYC verification, allowing for anonymous trading.

Registration and Login FAQs

Common questions about account creation and access are addressed here.

Registration Issues:

• Verification Codes: Check spam folders if emails are not received.
• Password Errors: Ensure passwords meet complexity requirements.

Login Problems

• Forgotten Passwords: Use the “Forgot Password” feature to reset.
• Account Lockouts: Contact support for assistance.

Tips

• Keep account information confidential.
• Enable 2FA for enhanced security.

How to Deposit Cryptocurrency

Adding funds to your BexBack account is a simple process.

Steps

• Log in to your account.
• Navigate to “Deposit.”
• Select the cryptocurrency to deposit.
• Copy the deposit address or scan the QR code.
• From your external wallet, send the desired amount to this address.
• Wait for network confirmations; the time varies by cryptocurrency.

Important

• Ensure the selected network matches between BexBack and your external wallet to avoid loss of funds.

BexBack: Steps from Registration to Trading

Here’s a step-by-step guide to get started on BexBack, from creating an account to executing your first trade:

Registration

• Visit the BexBack website and click on “Sign Up.”
• Enter your email, create a strong password, and accept the terms and conditions.
• Verify your email by clicking on the link sent to your inbox.

Account Security

• Log in and immediately enable Two-Factor Authentication (2FA) for enhanced security.
• Use an authenticator app like Google Authenticator or Authy to set up 2FA.

Deposit Funds

• Navigate to the “Deposit” section.
• Choose the cryptocurrency you want to deposit (e.g., BTC, ETH).
• Copy the wallet address or scan the QR code and transfer funds from your external wallet.
• Wait for network confirmations before the balance reflects in your account.

Familiarize Yourself with the Platform

• Explore the interface and features, such as trading pairs, charts, and order types.
• Review available tools like stop-loss, take-profit, and leverage options.

Start Trading

• Select a trading pair (e.g., BTC/USDT).
• Decide between a market order (immediate execution at the current price) or a limit order (specific price execution).
• Input the amount you wish to trade and confirm the transaction.

Monitor and Manage

• Keep track of your open positions and adjust as needed using risk management tools.
• Close your position when you meet your desired profit or decide to minimize losses.

All About KYC

What is KYC?

• KYC (Know Your Customer) is a verification process that requires users to submit identification documents to confirm their identity. It’s a standard practice in financial institutions to comply with anti-money laundering (AML) laws.

BexBack and KYC

• Optional KYC: BexBack allows users to trade without undergoing KYC verification, making it ideal for those who value privacy.

When is KYC Required?

• For higher withdrawal limits.
• In cases of suspicious activity flagged by the system.

How to Complete KYC on BexBack

1. Log in to your account and go to the verification section.
2. Upload a valid government-issued ID (e.g., passport or driver’s license).
3. Provide a selfie or live verification as instructed.
4. Wait for approval, which typically takes a few hours to a day.

Benefits of KYC

• Enhanced security for accounts.
• Higher transaction and withdrawal limits.
• Regulatory compliance, especially for large-scale traders.

Example

• Without KYC: You may have a withdrawal limit of 2 BTC per day.
• With KYC: The limit might increase to 100 BTC per day.

BexBack is designed to cater to traders of all levels with its robust features and user-friendly approach.

BexBack Review — Conclusion

In conclusion, BexBack emerges as a comprehensive and innovative cryptocurrency exchange platform, offering tailored solutions for both novice and experienced traders. With its robust security measures, user-friendly interface, advanced trading tools, and diverse asset offerings, it ensures a seamless trading experience. Features like high-leverage trading, zero slippage, perpetual futures contracts, and a transparent fee structure highlight its commitment to empowering users with flexibility and control.

BexBack’s global presence, regulatory compliance, and emphasis on privacy reinforce its credibility and appeal in the rapidly evolving cryptocurrency market. Its user-centric policies, affiliate program, and feedback-driven approach demonstrate a dedication to community engagement and continuous improvement. Whether you’re exploring trading for the first time or seeking advanced tools for professional strategies, BexBack positions itself as a reliable and forward-thinking partner in the digital finance space.

Disclaimer — This blog contains product affiliate links. We may receive a commission if you make a purchase after clicking on one of these links. There might be paid endorsements in this article.

BexBack — Review was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.