Bankcex Crypto Exchange Review 2023 : Pros & Cons

What Is Crypto Exchange ?

The term “crypto exchange,” which stands for “cryptocurrency exchange,” refers to a digital marketplace where users may purchase, sell, and exchange cryptocurrencies like Bitcoin, Ethereum, Litecoin, and others for fiat currency like US dollars or euros.

Like a typical stock exchange, a cryptocurrency exchange allows buyers and sellers to trade equities. On a crypto exchange, individuals trade digital currencies rather than equities.

To make trading easier, cryptocurrency exchanges provide a range of trading pairs as well as numerous features like market and limit orders, stop-loss orders, and other trading tools. Some exchanges additionally offer other services including access to real-time market data and digital wallets for storing cryptocurrency.

Cryptocurrency exchanges can in a variety of forms, such as centralized, decentralized, and peer-to-peer exchanges. Each offers a different set of features and advantages, but they all give consumers a way to access and engage with the cryptocurrency market.

What Is Bankcex Crypto Exchange ?

An online marketplace that makes it easy to purchase, sell, and trade different cryptocurrencies is known as a cryptocurrency exchange. These marketplaces serve as middlemen, enabling users to convert fiat money (such USD or EUR) into cryptocurrencies like Bitcoin, Ethereum, or other altcoins. Trading pairs, which let users exchange one cryptocurrency for another, are often available on cryptocurrency exchanges.

Bankcex Crypto Exchange Quick Facts

How To Register At Bankcex Exchange?

To register on Bankcex , 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.

Bankcex Exchange Supported Countries

Bankcex 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 Bankcex .

How To Verify Your Bankcex Cryptocurrency Account ?

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

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

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

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

1. Strong and Unique Password: Make a password that is both strong and distinctive by using a mix of capital and lowercase letters, numbers, and special characters. Useless information like your name or birthdate should be avoided. Additionally, avoid using the same password on multiple platforms.
2. Two-Factor Authentication (2FA) : To enable two-factor authentication for your Bankcex account, click the button below. By requiring a second form of verification, generally a code texted to your mobile device, in addition to your password when logging in, this offers an additional layer of protection.
3. Secure Email : Make sure the email address connected to your Bankcex account is secure. Use two-factor authentication if it’s available, create a strong password for your email account, and keep a constant eye on it for any strange behavior.
4. Phishing Attempts to Avoid: Phishing attempts are when attackers send out phony emails or imitate real websites in an effort to deceive users into disclosing their login information. Before entering your login information, make sure the website’s URL is verified. You should also avoid clicking on shady links and downloading files from untrusted sources.
5. Update software regularly: Maintain the operating system, web browsers, and antivirus software on your PC or mobile device. These upgrades frequently come with security patches that can help fend against known flaws.
6. Secure Network Connections: Only use secure and reliable networks to access your Bankcex account. Avoid utilizing public WiFi networks because they could be unsafe and open to hackers. Utilize a secure home or mobile network instead, which is private and encrypted.
7. By taking these steps, you can help protect your account and reduce the risk of unauthorized access to your funds.

Fees taken when buying virtual currency

BankCEX Trading fees

Every time you place an order, the exchange charges you a trading fee. The trading fee is normally a percentage of the value of the trade order. Many exchanges divide between takers and makers. Takers are the one who “take” an existing order from the order book. Makers are the ones who add orders to the order book, thereby making liquidity at the platform.

BankCEX charges what call flat fees, meaning that both the takers and the makers pay the same fee: 0.10%. These taker fees quite competitive and somewhat below the global industry averages for centralized exchanges. Industry averages have historically been around 0.20-0.25% but we now see new industry averages emerging around 0.10%-0.15%.

BankCEX Withdrawal Fees

BankCEX charges a withdrawal fee of 0.0005 BTC per BTC-withdrawal. This fee is slightly below the global industry average. The current global industry average is 0.000643 BTC per BTC-withdrawal

Deposit Methods

In order to trade here, you must have cryptocurrency to begin with. The only asset class you can deposit to BankCEX is cryptocurrency. However, if you really like BankCEX but you don’t have any crypto yet, you can easily start an account with an exchange that has “fiat on-ramps” (an exchange where you can deposit regular cash), buy crypto there, and then transfer it from such exchange to this exchange. Use Exchange Filters to easily see which platforms that allow wire transfer or credit card deposits.

How To Contact Bankcex Customer Support Team?

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

Please go to the Bankcex website: Use your favourite web browser to navigate to the official Bankcex website.

The “Support” or “Contact Us” Section can be found here: On the website, look for a section that lists contact details or customer assistance. This is often located in the website’s bottom or main navigation.

Discover the Options for Customer Support: You’ll probably notice various ways to contact Bankcex’s customer service staff once you land on the help or contact page. These choices could consist

Contact Customer Support: Use the supplied phone number, email address, or live chat to start a conversation with customer support, depending on your preferred form of communication. When contacting the support team, be specific and succinct about the nature of your question or problem and include any information required for them to help you efficiently.

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

Features Of Bankcex Crypto Exchange

Trading Cryptocurrencies:

Users can buy, sell, and trade a variety of cryptocurrencies on cryptocurrency exchanges. Depending on the exchange, several cryptocurrencies might not be accessible.

Security Measures:

Reputable exchanges put security first by putting in place a number of safeguards like two-factor authentication (2FA), cold storage for cash, encrypted communication, and routine security audits.

User-Friendly Interface:

A reputable cryptocurrency exchange offers a user-friendly interface that makes it simple for customers to go about the platform, place orders, and keep tabs on their transactions and account balances.

Order Types :

Exchanges frequently provide a variety of order types, including market orders (buy/sell at the going market price) and limit orders (buy/sell at a predetermined price).

Trading Charts and Tools:

To assist users in making knowledgeable trading decisions, advanced exchanges frequently offer trading charts, indicators, and analysis tools.

Customer Support :

Reliable exchangers provide customer support channels to help users with questions, account problems, or technical concerns.

Bankcex Good Or Bad Points

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

Good points:

1. Security: Seek out platforms that place a high priority on protecting user dollars and private information. A higher level of security may be indicated by features like two-factor authentication, encryption, and cold storage of cash.
2. User Interface and Experience: An intuitive design and user-friendly interface can help users efficiently browse the site and carry out transactions.
3. Wide range of Cryptocurrencies: A platform that provides a large range of cryptocurrencies can be helpful if you’re interested in trading or investing in a variety of cryptocurrencies.
4. Liquidity: A platform with strong liquidity makes it possible to buy or sell cryptocurrencies quickly and with little price movement.

Bad points:

1. Lack of Regulation: If a platform operates in a legal gray area or does not have the necessary licensing and compliance, users may be at risk.
2. Poor Reputation: Unfavorable comments, grievances, or a history of security breaches can point to possible platform issues.
3. High Fees: Excessive withdrawal, trading, or other fees might reduce your profits and detract from the appeal of the site.
4. Limited elements: A platform might not satisfy your individual needs if it is missing crucial elements like cutting-edge trading tools or mobile applications.
5. Lack of Transparency: When working with financial platforms, transparency is essential. A platform may cause problems if it doesn’t give enough details about its staff, security procedures, or corporate history.

Is Bankcex Is Safe Platform To Trade ?

Users can buy, sell, and trade different cryptocurrencies on Bankcex, a platform for cryptocurrency exchange. Although no exchange can guarantee complete security, Bankcex has put in place a number of security measures to assist safeguard its users’ money.

For instance, Bankcex maintains the vast bulk of the money belonging to its users in offline, internet-inaccessible cold wallets. Because of this, it is significantly more challenging for hackers to steal money. Two-factor authentication (2FA) is another security measure that Bankcex use to further protect user accounts.

Bankcex Conclusion

A trustworthy and user-friendly cryptocurrency exchange, Bankcex offers traders and investors a number of services. For individuals wishing to purchase, sell, or keep cryptocurrencies, it is a desirable alternative due to its minimal trading costs, staking opportunities, and security features. Its affiliate program and community involvement also give users more chances to get rewards and meet people who share their interests. Nominex offers the tools and resources you need to thrive in the world of cryptocurrency trading, regardless of your level of experience.

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