Pionex Crypto Exchange Review 2023 : Pros & Cons

What Is Crypto Exchange ?

A crypto exchange, also known as a cryptocurrency exchange, is a digital platform where individuals can buy, sell, and trade cryptocurrencies such as Bitcoin, Ethereum, and other altcoins. Crypto exchanges act as intermediaries between buyers and sellers, providing a marketplace where users can place orders and execute trades.

They typically charge fees for their services, which may include deposit and withdrawal fees, trading fees, and transaction fees.

There are different types of crypto exchanges, including centralized exchanges (CEX) and decentralized exchanges (DEX). CEXs are run by a centralized authority, and they control the user’s funds and assets.

Crypto exchanges play a significant role in the adoption and growth of cryptocurrencies, as they enable users to buy and sell cryptocurrencies with ease and convenience. However, it’s essential to choose a reputable and trustworthy crypto exchange to ensure the safety of your funds and assets.

What Is Pionex Crypto Exchange ?

Pionex aggregates the liquidity from Binance and Huobi near the ticker price. Pionex is one of the biggest brokers of Binance, and one of the biggest market makers of Huobi in the world. Licensed. Pionex has acquired MSB(Money Services Business) license by FinCEN. Pionex also offers a range of trading pairs, including popular cryptocurrencies such as Bitcoin, Ethereum, and Litecoin, as well as lesser-known altcoins. The exchange charges a competitive fee of per trade, which is lower than many other crypto exchanges.

How To Register At Pionex Exchange?

To register on Pionex , 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.

Pionex Exchange Supported Countries

Pionex 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 Australia, Thailand, Canada and United States, United Kingdom, South Africa in the Middle East. Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia are also countries whose nationals cannot trade on Pionex .

How To Verify Your Pionex Cryptocurrency Account ?

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

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

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

Securing your Pionex account is crucial to protect your funds and personal information from unauthorized access. Here are some tips to help you secure your Pionex account:

1. Enable Two-Factor Authentication (2FA): Pionex supports 2FA, which provides an additional layer of security by requiring a code from your smartphone or other devices in addition to your password to log in. You can enable 2FA in your account settings.
2. Use a Strong Password: Choose a strong, unique password that includes a mix of letters, numbers, and symbols. Avoid using easy-to-guess passwords such as your name, date of birth, or common words.
3. Keep Your Password Secure: Do not share your password with anyone, and avoid writing it down or saving it in an unsecured location. You can use a password manager to generate and store strong passwords.
4. Monitor Your Account Activity: Regularly check your Pionex account activity to ensure that there are no unauthorized transactions or suspicious activity.
5. Enable Withdrawal Restrictions: Pionex allows you to set withdrawal restrictions, which can prevent unauthorized withdrawals from your account. You can set up withdrawal restrictions in your account settings.
6. Keep Your Devices Secure: Make sure that your devices, including your computer and smartphone, are secure by installing antivirus software and keeping them up to date with the latest security updates.

Fees taken when buying virtual currency

Pionex is able to take advantage of being a top market maker on both Binance and Huobi and therefore offers low fees to customers.

All trades on Pionex incur a 0.05% fee, which is lower than Binance or Huobi. There are also no additional fees for using the trading bots. Pionex fees are some of the lowest on the market.

Trade On Go Pionex Is 100% Mobile Friendly

Yes, Pionex is a mobile-friendly cryptocurrency exchange that offers a mobile app for iOS and Android devices. The Pionex mobile app allows users to trade on the go, providing access to all of the exchange’s features, including trading bots and market analysis tools.

The mobile app provides a user-friendly interface that is easy to navigate, even for beginners. Users can view their account balances, track their open orders, and execute trades with just a few taps on their mobile devices.

Additionally, the Pionex mobile app provides real-time market data and charts, allowing users to monitor the cryptocurrency markets and make informed trading decisions.

Overall, the Pionex mobile app is a convenient and efficient way to trade cryptocurrencies on the go. Whether you’re commuting to work or traveling abroad, you can easily access your Pionex account and stay up to date with the cryptocurrency markets using your mobile device.

How To Contact Pionex Customer Support Team?

If you need to contact Pionex customer support, there are a few different ways to do so:

1. Email Support: You can email Pionex support at [email protected]. This is a good option if you have a question or issue that is not urgent, as it may take some time to receive a response.
2. Live Chat Support: Pionex offers live chat support through its website. To access live chat support, click on the “Support” button in the lower right corner of the website and then select “Live Chat.”
3. Social Media Support: Pionex is active on social media platforms such as Twitter, Telegram, and WeChat. You can send a message to their social media accounts and get in touch with their support team.
4. Help Center: Pionex also has a comprehensive help center on their website, where you can find answers to frequently asked questions and other helpful resources.

Features Of Pionex Crypto Exchange

In-Built Automated Trading Bots

Pionex is a unique cryptocurrency platform that has in-built trading bots for its users to configure easily and quickly. There are 18 trading bots that can be used for free of popular strategies. As there is no demo trading account, traders will need to be mindful that real funds will be used when trading with the bots. An overview of the most popular trading bots on Pionex is described below.

Grid Trading

A popular strategy for range-bound cryptocurrency markets. The bot will automatically place a buy trade when prices reach the bottom of a defined rectangle (or grid) and sell when the price reaches the top of the grid. Pionex provides the option to manually set the grid or use their algorithm which will set the range based on the previous 7 days of historical data. This bot is a great tool for beginners, however, can incur losses in trending markets or high volatility.

Leveraged Grid

This automatic bot operates in the same way as grid trading however allows the trader to apply leverage to a position. Leverage is a double-edged sword that can increase potential profits as well as losses. BTC and ETH pairs have a maximum leverage amount of 5x.

Smart Trade

This bot is best-suited for break-out traders in a trending market. The strategy involves entering a price to trigger the bot which will follow the move until a maximum trailing stop price is reached. Traders can take advantage of a rising market with a trailing stop loss.

Multiple Cryptocurrencies

Pionex supports a wide range of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and more.

User-Friendly Interface

Pionex’s interface is easy to use and navigate, even for beginners. The platform provides a range of charting tools and market analysis features to help users make informed trading decisions.

Two-Factor Authentication (2FA)

Pionex supports 2FA, providing an additional layer of security to protect user accounts.

Margin Trading

Pionex offers margin trading with up to 10x leverage, allowing users to increase their potential profits.

Pionex Good Or Bad Points

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

Good points:

1. Low Trading Fees: Pionex offers some of the lowest trading fees in the industry, which makes it an attractive option for traders who want to minimize their costs.
2. Automated Trading Bots: Pionex offers a variety of trading bots that allow users to automate their trading strategies, which can save time and potentially increase profits.
3. User-Friendly Interface: Pionex provides a user-friendly interface that is easy to navigate, even for beginners. The platform also provides a range of charting tools and market analysis features to help users make informed trading decisions.
4. Smart Trade: Pionex’s Smart Trade feature allows users to execute trades at the best available price by automatically splitting orders across multiple exchanges.
5. Margin Trading: Pionex offers margin trading with up to 10x leverage, which can potentially increase profits for experienced traders.

Bad points:

1. Limited Supported Countries: Pionex is not available to users in all countries, which can be a drawback for some traders.
2. Limited Customer Support: Some users have reported slow response times from Pionex’s customer support team, which can be frustrating for those who need assistance.
3. Lack of Advanced Features: While Pionex provides a range of useful features, some advanced traders may find that the platform is lacking in certain areas compared to other exchanges.
4. Limited Cryptocurrency Options: While Pionex supports a range of popular cryptocurrencies, it may not have as wide of a selection as some other exchanges.

Is Pionex Is Safe Platform To Trade ?

Pionex supports 2FA, which provides an additional layer of security to protect user accounts. The majority of funds held on Pionex are stored in cold wallets, which are not connected to the internet and are therefore less susceptible to hacking attempts.

Pionex allows users to whitelist specific IP addresses, which helps to prevent unauthorized access to their accounts. uses encryption to protect user data, including personal information and login credentials Pionex complies with Know Your Customer (KYC) and Anti-Money.

Pionex undergoes regular security audits to ensure that its systems and processes remain secure and up-to-date. While no platform can guarantee 100% security, Pionex takes a number of measures to protect its users’ funds and personal information.

As with any cryptocurrency exchange, it’s important to use best practices when it comes to securing your account, such as using strong passwords, enabling 2FA, and avoiding sharing your login credentials with others.

Pionex Conclusion

In conclusion, Pionex is a cryptocurrency exchange platform that offers a range of features for traders, including low trading fees, automated trading bots, and margin trading with up to 10x leverage. The platform is designed to be user-friendly, with a variety of charting tools and market analysis features available to help users make informed trading decisions.

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