Year of establishment: September 2017
Total Capitalization: Over $52 million
What is Bibox?
Bibox exchange is developed by China’s leading Blockchain and digital currency researchers, including the co-founder of OkCoin and Huobi team members. If you have ever used two exchanges Binance and KuCoin, the way Bibox works is similar. Due to the ban on cryptocurrencies in China, BiBox is headquartered and developed in Estonia and Japan.
In addition to the core technical team and operations team, Bibox also attracts Bitcoin enthusiasts, professional stock traders, venture capitalists, high-tech investors, and leading experts in this industry join its platform.
The pros and cons of Bibox
Integrate AI technology into the delivery of calculations and analysis.
The development team is experienced and leading in Blockchain technology, AI.
No need to confirm the account, you can still trade and withdraw money with a limit of 2 BTC per day.
The current price is quite soft
The transaction fee is as low as 0.1%. If using BIX to pay the fee, it is only 0.05% (the fee is cheap like Binance).
There is a mobile trading app for Android and iOS operating systems
Popular trading pairs like BTC, ETH, USDT and DAI. The difference is that there are more pairs of DAI.
The floor has Margin Trading function: a form of margin trading (borrowing money from the floor), the same way as Poloniex floor.
Newly established floor
Little known, Traffic mainly comes from China.
New Chinese, Japanese and English language support.
Support time is quite slow.
Which markets does Bibox support?
Currently, Bibox exchange offers investors 4 main markets: Bitcoin (BTC), Ethereum (ETH), USDT (Tether), DAI (I’m learning information about this market because it only has ETH/pairs). DAI) and in the future BIX will be applied to reduce fees. The concept of the market is probably still vague for many people, so let me explain a bit, ie with Bibox you can use BTC, ETH, USDT to buy and sell other coins.
Like Binance and Kucoin, Bibox exchange does not support trading of coins with fiat currencies such as USD or EUR and even of the Chinese yuan, due to the ban and strict regulations of this country.
Transaction fees on Bibox
Similar to other exchanges, Bibox will have 3 types of fees: deposit fee, withdrawal fee and purchase/sale transaction fee.
Deposit fee: Free for all coins
Withdrawal fee: Bibox does not charge a withdrawal fee but will pay the transaction confirmation network (this I will directly do and update later for you)
Buy/sell transaction fee: 0.1% of the total amount of coins traded
If you use Bibox Token (BIX) to trade with other coins, you will receive a reduction in fees per cycle as follows:
First year: 50% off (Currently in the first year, this fee should apply)
2nd year: 25% off
3rd year: 12.5% discount
4th year: 6.25% discount
5th year: No more discount
Is Bibox exchange a scam (Scam)?
Up to now, Bibox Exchange has not encountered any hacker attacks leading to the theft of investors’ assets, and there have been no problems with customers. Bibox has not been developed for a long time, so of course we still need to experience it and make more specific assessments. However, at this time, the number of users accessing Bibox.com is increasing very strongly, so they can close their new account registration at any time. If you don’t have an account, register now
Sign up for a Bibox account
First you access https://www.bibox.com
Then you fill in all information to register an account including: Email, password and click on the box “Click to pass” then click Sign up
Bibox system will send you an email confirming the registration.
You check your email and click on the link to complete the registration for a Bibox account.
Attention : Confirmation email from Bibox may go to Spam. You should check carefully.
Notice of successful account registration confirmation
So you have registered your Bibox account and can start trading Bitcoin/Altcoins already.
Important: The withdrawal limit of the account is 2 BTC. To increase your limit you need to verify your account’s identity.
2-layer security for Bibox accounts
According to personal feelings, Bibox exchange is extremely concerned with security because there will be 2 security steps: Google Authy and Funds Password (This is the password when you withdraw money).
For Google Authy :
In the Warning section, click on the “Google Authenticator” line. Then the system will display a QR code and Backup key.
You should keep these things carefully in case your phone is damaged or lost, you can still recover and access your normal Bibox account.
After scanning the QR Code, enter the 6-digit code in box 4 “Enter Google Authenticator Code” then you need to enter the password in box 3 “Enter Login Password” and press Confirm.
Notice to enable 2-layer security for successful accounts.
For Funds Password :
You click on the word set Funds Password right in the Warning place.
Then enter your password in the box “Set Funds Password” (In my opinion, you should always enter the password when logging in for it to remember.)
Next in the Safety Verification box, enter your login password.
And the last box you enter the Google Authy code and click Confirm.
Notice that set Funds password is successful.
Instructions for verifying the identity of Bibox exchange
After identity verification, your Bibox account will be increased the withdrawal limit from 2 BTC to 55 BTC per day. To start the verification, follow these steps:
Step 1: Click on the Verification tab next to the Account tab
Step 2: You need to fill in all the information. As follows :
Note: Here, I verified with Passport and ID card or driver’s license, I don’t know if I can verify it or not.
Region : Select Worldwide
Name : Fill in the correct name in Passport
Country : Select Vietnam
Passport Number : Enter your Passport number
In the section Cover of Passport : You upload the front cover of Passport
In the section Biographical page of Passport : You upload the inside of your Passport
Finally in Selfie with Biographical page of Passport : You need to take a photo of yourself with your Passport and a piece of paper with the words Bibox + current date.
After the upload is complete, you can check the information again for accuracy. Then press Submit.
Your account has been added to the verification waiting list. Please wait patiently for a few days for verification to complete.
After the verification is complete, your account will have a message like this
Above, Bitcoin magazine introduces and guides to register for an account on BiBox exchange. Now you can login to the exchange deposit coins and Trade. Good luck !
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