BaseFEX Cryptocurrency Exchange Review : Pros & Cons

About BaseFEX

Launched in Dec 2018, BaseFEX is a centralized cryptocurrency derivatives exchange that enables traders to trade perpetual contracts on BTC and Altcoin futures with up to 100x leverage. BaseFEX is a cryptocurrency derivatives trading platform that allows users to trade a variety of financial products such as futures, options, and perpetual swaps. BaseFEX allows users to trade cryptocurrencies with leverage, allowing them to potentially magnify their gains (or losses) compared to trading without leverage.

Like any financial service, there are risks associated with trading on a cryptocurrency derivatives platform like BaseFEX. It’s important to thoroughly research and understand the platform, as well as the financial products being traded, before using it. This includes understanding the mechanics of leverage and the potential for increased risk, as well as any fees and policies associated with the platform.

BaseFEX Cryptocurrency also important to consider your own financial situation and risk tolerance before using a platform like BaseFEX. Trading with leverage can be highly speculative and is not suitable for everyone. Additionally, it’s also important to use best security practices, such as enabling two-factor authentication and securely storing any cryptocurrency holdings.

Information Table

How To Register At BaseFEX Exchange?

To register on BaseFEX, 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.

How To Verify Your BaseFEX Cryptocurrency Account ?

There is no mandatory verification at BaseFEX, but you can pass it if you wish. At the moment, the only restriction imposed on unverified users is the withdrawal limit of 30,000 yen. 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 BaseFEX, Revolut platforms.

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

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

Also remember to go to the Security tab and activate two-factor authentication using the Google Authenticator app – this is the most reliable way to prevent unauthorized access to your account.

BaseFEX Fees

BaseFEX is a cryptocurrency exchange platform that offers trading services for various digital assets. The platform charges fees for trades made on its platform and for withdrawals of assets from the exchange. The exact fee structure for BaseFEX can vary and is subject to change, but typically, the platform charges a maker fee and a taker fee. The maker fee is charged to users who add liquidity to the platform by placing limit orders on the order book, while the taker fee is charged to users who remove liquidity by placing market orders.

In addition to trading fees, BaseFEX also charges a fee for withdrawals of assets from the platform. This fee varies depending on the asset being withdrawn and is designed to cover the network fee for processing the transaction on the blockchain. It is always recommended to check the latest fee structure on the BaseFEX website, as it may change from time to time.

Features Of BaseFEX Crypto Exchange

Available At Android & IOS Store

BaseFEX Cryptocurrency Exchange exchange application available on both world famous mobile store google play store and iOS store . You Can download App and start trading.

Highest Verified Security

Rated A+ in Mozilla’s Observatory test. Only four out of 400 exchanges achieved an A+ rating.

24/7 Live Support

They’re on hand, day and night, for all your customers. Not just for high-rollers and institutions. You can always find at your customer support.

Stable coin Settlement

If you choose, you can settle your contracts in USDT, so once your trade is complete you don’t need to worry about market volatility. 

Competitive Trading Fees

Competitive trading fees in the industry and zero fees on deposits and withdrawals. Click here to learn more about your fees structure.

100x Leverage

Perpetuals contracts for BTC, ETH, XRP, BCH, LTC, EOS, and BNB, with margin trading at up to 100x leverage.

Fair and Square

They created BaseFEX because they were sick of the way many exchanges exploit their users with market manipulation and “system errors”. They’ll never bet against you.

No Overload

They’ve never suffered any server downtime or system overloads because they’re powered by the same, robust servers as the internet giants.

100% cold Storage

All your assets are stored in multi-signature cold wallets and no keys are ever kept on cloud servers.

Comprehensive API

Your API gives you a seamless programming experience and is ready to ingest millions of trades per second. Check out your API here.

24/7 Live Chat

If you’re awake, they are too. When you need help, your team of experts will work with you via 24/7 live chat to reach a quick and efficient resolution.

BaseFEX Conclusion

BaseFEX is a cryptocurrency derivatives trading platform that allows users to trade futures, options, and perpetual swaps on a variety of cryptocurrencies with leverage. While trading with leverage can magnify potential gains, it also increases the potential for losses. As with any financial service, it’s important to thoroughly research and understand the platform, including its fees and policies, before using it. Additionally, it’s important to consider your own financial situation and risk tolerance and use best security practices to protect your funds.

It’s also worth noting that cryptocurrency derivatives trading can be highly speculative and is not suitable for everyone. Before using BaseFEX or any other cryptocurrency trading platform, it’s important to thoroughly educate yourself on the risks involved and make informed decisions based on your own circumstances.