BIKA Crypto Exchange Review 2023 : Pros & Cons

What Is Crypto Exchange ?

A cryptocurrency exchange, sometimes known as a “crypto exchange,” is a digital platform that allows users to purchase, sell, and trade different cryptocurrencies. Similar to traditional stock exchanges where stocks and securities are bought and sold, these exchanges facilitate the exchange of one cryptocurrency for another or for fiat currency (such as US dollars, euros, and so on).

Various trading pairings, which identify the cryptocurrencies that can be traded against each other, are listed on cryptocurrency exchanges. The BTC/USD trading pair, for example, allows you to exchange Bitcoin (BTC) for US dollars (USD).

Market orders can be placed by users to buy or sell cryptocurrencies at the current market price. They can also place limit orders, indicating the price at which they wish to purchase or sell, and the exchange will execute the order when the market hits that price.

The ease with which an asset can be bought or sold without materially altering its price is referred to as liquidity. Due to the enormous number of buyers and sellers on high-liquidity exchanges, it is easier to execute trades swiftly and at desired pricing.

What Is BIKA Crypto Exchange ?

BIKA is a global digital asset, spot, and derivatives trading platform that provides a user-centric and open ecosystem with its operational headquarters in USA. Built on user-centric values with licenses of MSB, we endeavor to provide a professional, smart, intuitive and innovative trading experience for all clients around the world.

Created to enrich the entire cryptocurrency industry, and committed to creating a safe, fair, transparent, reliable and user-friendly trading environment, and offer 24/7 multi-language customer support to provide assistance in a timely manner. The founding team is composed of senior financial technology professionals from New York, Singapore ,and Europe. The core members of BIKA are from Fortune Global 500 and first-class technology financial enterprises and have been engaged in blockchain applications for many years.

BIKA Crypto Exchange Quick Facts

How To Register At BIKA Exchange?

To register on BIKA , 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.

BIKA Exchange Supported Countries

BIKA 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 BIKA .

How To Verify Your BIKA Cryptocurrency Account ?

There is no mandatory verification at BIKA , 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 BIKA , Revolut platforms.

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

There are two main options for topping up your balance on BIKA . 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 BIKA 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 BIKA Account ?

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

1. Use a Strong Password : Make a complex password with a mix of uppercase and lowercase letters, numbers, and special characters. Avoid using information that is easily guessed, such as your name, birthdate, or common words. Consider using a passphrase that is simple to remember for you but complex for others to guess.
2. Turn on Two-Factor Authentication (2FA): BIKA is likely to provide 2FA as an added security step. Turn it on in your account settings. When signing in, 2FA normally needs you to input a code given to your mobile device or email in addition to your password.
3. Keep Your Password Up to Date: Change your BIKA password on a regular basis. This helps to prevent unwanted access, which is especially important if your password has been hacked.
4. Be Wary of Phishing Emails: Keep an eye out for phishing emails that look to be from BIKA but are actually attempting to steal your login credentials. Never click on shady websites or open attachments from unfamiliar sources.
5. Make Use of a Secure Internet Connection: Logging onto your BIKA account on public or unprotected Wi-Fi networks is not recommended. When accessing your account on public networks, use a virtual private network (VPN) for enhanced security.
6. Maintain the Security of Your Device: Make sure the device you’re using to access BIKA is secure. Keep your antivirus software up to date, as well as your operating system and applications.
7. By taking these steps, you can help protect your BIKA account and reduce the risk of unauthorized access to your funds.

Fees taken when buying virtual currency

Futures Trading Fee 

Futures fee is the transaction fee charged when you place an order during a transaction. The fee schedule varies depending on types of transactions. Currently Maker/Taker basic fee rate is 0.05% in BIKA Futures trading platform.

Deposit Fee

Free

Trade On Go BIKA Is 100% Mobile Friendly

It’s fantastic to hear that the BIKA trading platform is completely mobile-friendly. Mobile compatibility is an important feature for current trading platforms since it allows traders to access their accounts and make transactions while on the road, using their smartphones or tablets. This adaptability is especially vital for traders who need to stay current on market movements and make quick judgments regardless of where they are.

Having a mobile-friendly trading platform often entails building a responsive and easy-to-navigate user interface for smaller screens, optimizing load times for mobile devices, and ensuring that all critical functions are available and working on mobile. This can improve the overall user experience and make trading more convenient for individuals that want to trade on their mobile devices.

If you have any specific queries or require more information regarding BIKA or its mobile trading capabilities, please ask, and I’ll try my best to answer them.

How To Contact BIKA Customer Support Team?

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

Go to the Official Site: If BIKA has an official website, visit it. Look for a “Support” or “Contact Us” section. Contact information, such as email addresses, phone numbers, or a contact form, is frequently found here.

Email: If an email address is listed in the contact area, you can write an email outlining your problem or concern.

Phone: If a phone number is provided, you can contact their customer service department. Take notice of their operation hours, as they may not be available 24 hours a day, seven days a week.

Live Chat: Some businesses have a live chat option on their website, allowing you to interact with a customer service professional in real time.

Social Media: Check to see if the company has a social media presence on platforms such as Twitter or Facebook. You can sometimes contact their support team by sending direct messages or comments.

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

Features Of BIKA Crypto Exchange

Multinational Presence

BIKA is a multinational company that provides services to clients all over the world. Its operating headquarters are in the United States, implying that it may be subject to US regulatory scrutiny.

Trading of Digital Assets

BIKA provides trading services for digital assets such as Bitcoin, Ethereum, and other tokens.

Spot and Derivatives Trading

The platform allows for both spot trading (the instant purchase or sale of assets) and derivatives trading (contracts dependent on asset prices in the future). This enables users to employ various trading techniques.

User-Centric Approach

BIKA emphasizes a user-centric approach, striving to give a professional, smart, intuitive, and innovative trading experience. This emphasis on user pleasure is designed to distinguish them from competition.

Regulatory Compliance

The mention of licenses as “MSB” (Money Services Business) implies that BIKA abides by financial legislation in the jurisdictions in which it operates. Due to governmental monitoring, compliance is critical in the bitcoin industry.

Safe and Transparent Trading Environment

BIKA is committed to fostering a trading environment that is safe, fair, transparent, and dependable. These qualities are critical in the bitcoin market, where trust and security are major considerations.

24/7 Multi-Language Customer Support

The platform provides round-the-clock customer service in multiple languages, guaranteeing that users can get help when they need it.

Experienced Team

BIKA’s founding team includes top financial technology executives from New York, Singapore, and Europe. They have extensive experience with blockchain applications and have worked in Fortune Global 500 and top technology finance organizations. This experience shows that the platform’s operations will be built on a solid foundation.

BIKA Good Or Bad Points

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

Good points:

1. User-Centric Values: BIKA’s emphasis on user-centric values implies that it emphasizes its users’ wants and preferences, potentially leading to a better overall user experience.
2. Innovation : The site claims to offer an innovative trading experience. If they keep this promise, it may attract traders looking for one-of-a-kind features and tools.
3. Professionalism: With Money Services Business (MSB) licenses, BIKA exhibits regulatory compliance and professionalism, which helps build trust in its users.
4. Global Accessibility: Because it is a global platform, users from all over the world have access to a diverse selection of cryptocurrency marketplaces.
5. Customer care: Providing multilingual customer care 24 hours a day, seven days a week is a huge advantage that can help users handle issues swiftly and efficiently.
6. Experienced Team: The fact that the founding team is made up of senior financial technology specialists with experience in blockchain applications is encouraging, as it indicates that they have the knowledge to function in the cryptocurrency market.

Bad points:

1. Regulatory Risks: While holding licenses as an MSB is a plus, the bitcoin regulatory landscape can be volatile and changeable. BIKA may need to adjust to changing regulations, which might be difficult.
2. Concerns About Security: Security is a major worry in the cryptocurrency sector. Users can suffer considerable financial damages as a result of any breach or vulnerability. To protect user funds, BIKA must invest extensively in security measures.
3. Lack of Track Record: Because BIKA is a new platform, it may not have a proven track record of reliability and security. Users may be wary about investing their finances to a novice.
4. Market Volatility: The cryptocurrency market is notorious for its high volatility. While this can provide possibilities for traders, it also involves substantial hazards.
5. Limited Cryptocurrency Offerings: The success of a cryptocurrency trading platform is frequently determined by the number of assets it provides. If BIKA offers a small number of cryptocurrencies, it may not appeal to traders seeking a diverse choice of options.

Is BIKA Is Safe Platform To Trade ?

BIKA is governed by financial regulators in the United States and other countries where it operates. Regulatory oversight is a crucial aspect in guaranteeing a trading platform’s safety. Look for evaluations and feedback from actual BIKA platform users. This can provide significant insights into other traders’ experiences.

Examine the security measures in place at BIKA to protect user data and funds. Encryption, two-factor authentication, and financial segregation should all be included. Examine their customer service’s responsiveness and efficacy. A trustworthy platform should provide accessible and competent customer support.

Ascertain that BIKA is open and honest regarding its fees, terms of service, and trading instruments. Investigate the company’s origins and history, as well as the founders. Consider their track record and experience in the blockchain and financial technology industries.

In summary, BIKA has taken several measures to enhance security, but it’s still important to be cautious and do your due diligence before trading on any platform.

BIKA Conclusion

BIKA is characterized as a global digital asset, spot, and derivatives trading platform headquartered in the United States. The platform is based on user-centric values, demonstrating a focus on serving its users’ wants and preferences.

BIKA has Money Service Business (MSB) licenses, indicating a commitment to regulatory compliance and financial industry norms. BIKA’s global clientele can expect a professional, clever, intuitive, and innovative trading experience from the company.

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