Bigone Crypto Exchange Review 2023 : Pros & Cons

What Is Crypto Exchange ?

A platform that enables users to purchase, sell, and trade different cryptocurrencies is referred to as a crypto exchange, sometimes known as a cryptocurrency exchange. It operates similarly to conventional stock exchanges, allowing traders to convert fiat currencies like the US dollar and the euro into cryptocurrencies like bitcoin, ethereum, and ripple and vice versa.

Cryptocurrencies are traded in pairs on a crypto exchange. BTC/USD, which reflects the exchange rate between Bitcoin and the US Dollar, is one popular trading pair as an illustration. Depending on what the exchange offers, traders have a large selection of cryptocurrency pairs to pick from.

Spot trading and futures trading are typically the two trading options offered by cryptocurrency exchanges. Spot trading entails purchasing and selling actual cryptocurrencies, whereas derivatives trading entails trading contracts based on the price movement of cryptocurrencies without possessing the underlying assets.

What Is Bigone Crypto Exchange ?

Numerous cryptocurrencies, including well-known ones like Bitcoin (BTC), Ethereum (ETH), and other altcoins, are supported for trading by BigONE. Depending on the available trading pairs, users can trade these digital assets either against one another or against fiat currencies BigONE prioritizes security measures to safeguard customer dollars and data, just like any reliable cryptocurrency exchange. To prevent hacking attempts and illegal access, this includes adopting different security procedures and deploying advanced encryption techniques.

Bigone Crypto Exchange Quick Facts

How To Register At Bigone Exchange?

To register on Bigone , click Register Now button at the top of the page. You can also start creating an account directly through the form on the main page.

You only need to enter your e-mail and come up with a password. If there is a referral code, it is also entered at this stage. Password requirements: at least 8 characters, numbers, upper and lower case.

Click ” Create Account ” then go to your email to verify it. Enter the code you received and registration is complete. You can start replenishing your account.

Bigone Exchange Supported Countries

Bigone Exchange is a cryptocurrency exchange that supports users from various countries around the world. However, the availability of services may vary depending on the location of the user.

Exceptions are the US, China, Japan and countries in the Middle East. Syria and North Korea are also countries whose nationals cannot trade on Bigone .

How To Verify Your Bigone Cryptocurrency Account ?

There is no mandatory verification at Bigone , but you can pass it if you wish. At the moment, the only restriction imposed on unverified users is the withdrawal limit of Free. In the future, depending on the actions of regulatory authorities, conditions may change.

For verification, you can use one of four documents to choose from: passport, driver’s license, identity card or residence permit. Artificial intelligence is used to evaluate the authenticity of documents. This service is provided by the Onfido online identification service, already used by the Bigone , Revolut platforms.

How To Buy Crypto Or Deposit Crypto At Bigone Crypto Exchange?

There are two main options for topping up your balance on Bigone . Firstly, you can buy cryptocurrency with a bank card – it’s fast and convenient. Go to the ” Buy crypto ” -> ” Buy crypto with a credit card ” section.

Choose a cryptocurrency (currently there are 13 coins available for purchase in this way). Enter the amount and select the fiat currency to be used for payment.

After that, you will need to select a payment channel: each of them has conditions. You can choose between Simplex, Mercuryo, Banxa and Moonpay. Click ” Buy ” next to the appropriate option.

Agree to the terms and confirm the transition to the site of the payment provider. Enter information about the card and its owner, confirm the transaction. Cryptocurrency will be credited to the exchange account within a few minutes.

Second Method

You can transfer digital assets to the balance of the exchange from any external crypto wallet. For this:

• Go to the “Deposit” section from the “Assets” menu.

• From the drop-down list, you can select the cryptocurrency you want to deposit into your account.
• The wallet address will appear. You need to copy it and send funds to it from another wallet or exchange. Please note that only bitcoin can be sent to bitcoin addresses, similarly with other coins.
• You can also click “Show QR code” – for transfers from a mobile wallet, this is a more convenient option.

How To Withdraw Crypto Asset From Bigone Exchange ?

Having completed all the necessary trading operations, it’s time to withdraw the received assets to an external wallet. Go to ” Assets ” -> ” Withdraw “. Please note that the operation is only available after enabling two-factor authentication in the settings. This is for added security and requires less than a minute, so don’t neglect this measure.

Select a cryptocurrency and enter the withdrawal amount. Each coin has its own withdrawal fee, for example, for BTC it is 0.00057 BTC. Click ” Output “. By default, the exchange processes applications three times a day, however, hourly withdrawals are available for Premium users. Also, the time of receipt of the cryptocurrency is affected by the workload of the blockchain network.

How To Secure Your Bigone Account ?

There are several steps you can take to help secure your Bigone account and protect your funds:

1. Strong Password: For your BigONE account, choose a strong, individual password. Avoid using popular passwords or information that might be guessed, such as names or birthdays. A strong password often consists of a mix of numbers, special characters, and both uppercase and lowercase letters.
2. Enable two-factor authentication (also known as 2FA) on your account : BigONE supports two-factor authentication (2FA), which boosts security by requiring a one-time code issued by an authenticator app or on your smartphone.
3. Enable Withdrawal Whitelist: BigONE has a tool called “Withdrawal Whitelist,” which lets you to specify a list of allowed withdrawal addresses. By enabling this function, you may prevent unauthorized withdrawals from your account.
4. Secure Communication: Make sure you utilize official channels and encrypted ways, such as their official website or encrypted email, when contacting BigONE’s support staff or other users.
5. Update Your Information Frequently: To get security alerts and updates from BigONE, keep your account information current, including your email address and phone number.
6. Avoid Using Public Wi-Fi: Avoid logging into your BigONE account using unprotected or public Wi-Fi networks because they are more prone to eavesdropping and man-in-the-middle attacks.
7. By taking these steps, you can help protect your Bigone account and reduce the risk of unauthorized access to your funds.

Fees taken when buying virtual currency

BigONE Trading fees

The exchange assesses a trading cost each time you place an order. The trading charge often represents a portion of the trade order’s value. Takers and manufacturers are frequently split apart in transactions. The people who “take” an existing order from the order book are known as takers. Making liquidity on the platform occurs when makers add orders to the order book.

BigONE levies what are known as flat fees, which means that both takers and creators, who are brand-new BigONE members, pay the same amount of 0.20%. These trading commissions are quite consistent with the averages for centralized exchanges across the world. Yes, industry averages have typically been between 0.20 and 0.25 percent, but new industry averages are now starting to appear between 0.10% and 0.15 percent.

BigONE separates between takers and makers for contract trading. Takers are required to pay a trading fee of 0.06%, whereas makers are only required to pay a fee of 0.02%. These prices are comparable to industry standards, and may even be slightly less so.

Depending on your membership level, BigONE also provides trading fee savings to some of its members. There are five levels: Challenger, Silver, Platinum, Diamond, and Bronze (at which you begin). The lesser your trading charge, the higher your level. Gaining “Privilege Points”—which you do by engaging in a high volume of trading, inviting friends to the exchange, etc.—allows you to advance in level.

BigONE Withdrawal fees

BigONE’s withdrawal fee is 0.0005 BTC per BTC-withdrawal. This fee is a bit below the industry average. The global industry average BTC-withdrawal fee the last time we at Cryptowisser did a full-blown empirical study of it was approx. 0.0008 BTC per BTC-withdrawal. But today, we see more and more exchanges charging 0.0005 BTC per BTC-withdrawal, so one could argue that 0.0005 BTC is starting to become the new industry average.

Deposit Methods

Fiat currency deposits to the exchange are not accepted at this exchange. You can, however, buy cryptocurrency from other persons advertising sales if you use the OTC option. The OTC-function accepts payments with either WeChat Pay or Alipay.

How To Contact Bigone Customer Support Team?

If you need help with your Bigone account or have any questions, you can contact Bigone customer support through the following methods:

View the BigONE website here : Visit the BigONE website at https://big.one/.

Look for the Support or Help section : Find the section marked “Support” or “Help” Typically, a “Support” or “Help” link can be found at the top or bottom of the webpage. Just click it.

Contact options: You should be able to get in touch with us in a number of ways, including via email, live chat, or contact form, through the Support section. Select the choice that most closely matches your needs.

Email: If a customer service email address is listed on the website, you can write an email outlining your problem or request and send it to that address.

Live chat or contact form: If a live chat function is available, you can speak with a customer service agent immediately. Alternately, if there is a contact form, complete it with your information and describe your request before submitting it.

Social media: A few businesses, such as exchanges, also provide customer service via sites like Twitter or Facebook. Verify whether BigONE is present on these channels and whether it offers support there.

Be specific and explicit: When contacting customer service, be specific and clear about the problem or query you have. Giving them pertinent information can improve their ability to comprehend your situation and help you.

No matter which method you choose, be sure to provide as much detail as possible about your issue or question so that BigONE customer support can assist you efficiently.

Features Of BigONE Crypto Exchange

Security

As the industry leader in cryptocurrency trading platform for users around the world, security experts work around the clock to cover every possible vector of attack to safeguard your assets

User-oriented

With constant optimisation, streamlined crypto exchange is an easy-to-use interface for newcomers and experts alike

Reliable

Our highly qualified support team is ready 24/7 via live chat to assist with your every need

Spot / Margin Trading

Supports Spots and ETF transactions up to hundreds of high-quality currencies such as BTC and ETH; Supports AI strategy trading with easy and quick customized quantitative trading models. In addition, users can earn transaction fee income by providing liquidity to the market.

User-Friendly Interface

The has a user-friendly interface that is easy to navigate, making it ideal for both beginner and advanced traders.

Trading Tools

Provides users with a range of trading tools, including advanced charting, technical indicators, and order types. This allows traders to make informed trading decisions.

BigONE Good Or Bad Points

BigONE is a cryptocurrency exchange that allows users to buy and sell various cryptocurrencies. Here are some potential good and bad points of using BigONE :

Good points:

1. Security: BigONE has put in place security measures to safeguard user money and information. In order to lower the danger of hacking incidents, this incorporates two-factor authentication (2FA) and cold storage for the majority of customer cash.
2. Wide Selection of Cryptocurrencies: BigONE provides customers with access to a range of marketplaces and investment opportunities by offering a number of cryptocurrencies and trading pairs.
3. User-Friendly Interface: The platform’s user-friendly interface makes it usable by both novice and seasoned traders.
4. Mobile App: BigONE has a mobile application, allowing users to trade and manage their accounts on the go.
5. Liquidity: For traders, the platform’s liquidity is a key consideration, and BigONE has succeeded in maintaining respectable liquidity for major trading pairs.

Bad points:

1. Regulation: The legal landscape governing bitcoin exchanges is constantly changing. Some users might worry whether the exchange complies with regional laws depending on their location.
2. Customer service: Some consumers have complained about BigONE’s customer service’s poor response times, which can be annoying, especially in urgent situations.
3. Limited Fiat Support: Users who want to directly deposit or withdraw fiat currencies may find BigONE’s fiat currency support to be limited, which could be inconvenient.
4. Exchange Performance: BigONE, like many other exchanges, occasionally has delayed performance or outage during times of intense market volatility, which can have an impact on trading activities.
5. Lack of Transparency: Transparency is essential for an exchange, however there have previously been complaints about BigONE’s ownership and management structure’s lack of transparency.

Is BigONE Is Safe Platform To Trade ?

A platform’s use of industry-standard security measures including two-factor authentication (2FA), cold storage for money, and recurring security audits should be verified. Investigate the exchange’s regulatory standing and see if it complies with applicable rules and legislation in the countries where it operates.

Look into user opinions and evaluations of BigONE’s operation, customer service, and general standing within the cryptocurrency community. Review the exchange’s track record for security lapses, operational openness, and problem-solving techniques. Think about the platform’s trade volume and liquidity. In general, smoother trading experiences and better price execution are associated with higher liquidity.

BigONE Conclusion

Bigone is a reputable and easy-to-use cryptocurrency exchange that offers traders and investors a number of services. It is a desirable alternative for anyone wishing to purchase, sell, or keep cryptocurrencies due to its minimal trading costs, staking possibilities, and security features. Users have additional options to earn incentives and make connections with like-minded people thanks to its affiliate program and community involvement.