Review on Bibox by gleymis villegas

Name: Bibox
Item: Bibox
Rating: 4

April 18, 2020

Bibox, a exchange recommendable

There are many things to consider when deciding if Bibox is safe or if it is a risky platform. The reason is simple: we have facts that undermine Bibox's trust, but at the same time there are facts that make us believe that the company is legitimate.

There is a criticism of the company for listing some suspected scams (although Bibox is known to remove coins that proved to be fraud). But the most serious problem associated with Bibox swapping is the supposedly fake volume. The platform was called for this many times. According to some accounts, the actual trading volume at Bibox is 0.3% of what they report. It means that the actual liquidity on this exchange is probably 333 times less than what people can expect. It is difficult to know if this assessment is the most accurate or if it is exaggerated, but in general, such allegations raise questions about whether we can really trust this platform. Some voices claim that Bibox uses AI for the laundry trade. However, the lack of complaints on the company's Twitter page makes us think that even if the platform creates some problems for its users, it is capable of solving them quickly.

Another reason for mistrust is the lack of transparency. There are not many verified facts about who runs the company and what Bibox does to keep users' funds safe. There are claims that the Bibox exchange has links to Huobi, OKCoincom, and even Binance, but it is not absolutely clear how exactly these platforms interact. Furthermore, there is no verified information on how Bibox stores its users' funds. According to the company, most user assets are stored offline in cold storage wallets, but that's all we can learn. There are no records that the platform has ever been hacked, but if this happens, it is difficult to predict the extent of the potential damage.
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Pros

Trading is done through the multi-functional and easy-to-use web platform. The user interface provides such traditional features as business history, order books, and charts and graphs. Unlike fully decentralized exchanges, Bibox offers many trading options such as trading margin, stop limit orders etc.
Through on-screen notifications, users can know current information such as the lowest or highest price of the day, the current value of this or that currency, a ticker, trade fluctuations, 24-hour trading volume and the current value of a certain currency.
Another special feature of this platform is the tool that predicts the future price through the analysis of quotes on the charts. Actually, there are three different features that allow a fairly efficient price forecast. These tools are the Relative Strength Index, Stochastic Oscillator, and MACD.

Cons