Review on Bibox by Praise Olagbadun
The Bibox Exchange Platform Looks Like A Moderately Designed Exchange Platform
The exchange platform has been established for the sole purpose of exchanging cryptocurrencies to Fiats and for trading. Some companies has been able to make this possible with some little additions like a beautiful interface and a secured place to store funds. As for me, before successfully trading severally in an exchange platform, I would have to go through a thorough check on their history, security features and the fees they charge. Most exchanges happens to have a well secured platform but charges more than usual. While others have a moderate security feature and charges moderately. One of such is the Bibox exchange platform. It is an exchange platform that is still new in the industry as it was established in the year 2017 and has quickly climbed up to become one of the best of its kind. It is an exchange platform that I would classify as completely moderate having a moderate security feature, charging moderately and having a moderate interface.
The exchange platform presently have it's mobile application available for both Android and iPhone operating systems which makes it a mobile exchange platform. I actually used the web version. It is an exchange platform that allows the deposit of both cryptocurrencies and fiats. As for the cryptocurrencies, they tend to accept close to a hundred cryptocurrencies and accepts about two Fiats (as for the ones I know) which are Euros and Great Britain Pound Sterling. As for their charges, the exchange platform seems lenient in the charges as they don't charge at all for deposits made, charge just one percent for exchanges and a trading fee of 0.1% and 0.2% for makers and takers respectively. They also have their native token, the BIX token which when used to pay trading fee, the traders enjoys a 25% discount making the fees to be 0.075 and 0.15% for makers and takers respectively.
As for the security measures they have put in place, they store their users funds in an cold storage and also make use of the SSL encryption technology, the 2 Factor Authentication is not left out also. As I said before, their user interface is moderately designed and can't be compared to many others out there.
Pros
- They have their native token which cuts down trading fee when used to pay
- They also store users funds in a cold storage
- Their fees are moderately charged
- They charge no deposit fee at all
Cons
- Their interface is not too beautiful
