BKEX Exchange Review — Key Features, Trading Fees, and Other Details

Introduction

With crypto adoption becoming global, the blockchain industry still continues to remain brand new through its advanced developments. Many crypto exchanges worldwide have decided to participate in this action.

One such crypto exchange that entered this new market in 2018 was BKEX Global. The crypto exchange is currently under the leadership of JM, the founder and CEO of BKEX. Although initially registered in the British Virgin Islands.

BKEX is a digital asset trading platform for investors across the world. BKEX has offered many trading and investment services with many top cryptos such as BTC, ETH, ADA, BNB, XRP, and many other popular digital assets. BKEX Global has operations in Hong Kong, Japan, Singapore, the United States, South Korea, and many other regions.

Serving customers from many countries, BKEX Global aims to grow by providing additional features in the near future for its users. According to BKEX, the crypto exchanges’ target is that they are dedicated to providing a professional, safe and transparent digital assets one-stop service for users around the world.

While BKEX exchange continues its journey to become one of the best crypto exchanges, it still offers many unique features such as P2P Trading, Spot Trading, Express Mining, and many more. However, should users trade crypto in the BKEX exchange? To find out more about the BKEX exchange, read this review.

BKEX Exchange Details

BKEX Exchange History Overview

Though the complete history was not available on the website, reports revealed that BKEX was founded in 2018. Formed by Lion Ji and other co-founders, BKEX had the hopes to become one of the top crypto exchanges across the blockchain industry. BKEX’s leading positions were also taken up by Robert Ren who became the BKEX Research Director, followed by Mario who is in charge of listing as the IEO Manager in BKEX.  

After just one year, the crypto exchange found itself competing with the top 20 other exchange platforms, based on the daily trading turnover. By April 2020, BKEX Global launched innovative financial derivatives, ETP Trading Area for the trading pair BTC3L/USDT. When it comes to trading rates, BKEX Global was offering a trading fee rate of 0.2%, while the fee rate of perpetual swap in BTC/USDT trading pair is at 0.02% for makers and 0.05% for takers.

BKEX has come a long way ever since its founding and has developed many initiatives for users to gain access and experience.    

BKEX Exchange Platform Interface

When visiting BKEX, the crypto exchange shows data on the relevant crypto, the trading pairs, announcements, and market trends. BKEX UI is quite simple, and not very messy compared to that of some other exchanges. BKEX’s homepage provides users access to its numerous features and trading options, thus, simplifying the user’s process.

BKEX also enables users to quickly purchase crypto with their Beginners’ guide section, which is positioned on the homepage. The Beginners’ guide provides users with three easy steps, which could indicate that the exchange is hoping to simplify the process for new investors.

Although many of the features of the exchange are within reach, the details and content regarding those different types of trading are explained thoroughly.

Users can easily make market orders, limit orders, and trigger orders using the spot trading feature. The spot trading section of BKEX also indicates the price and fall of the prices of digital assets.

When it comes to market trends, BKEX highlights the overall trends of the different sectors in the digital assets industries, such as DeFi, NFT, and MEME. However, if users would want to dive deeper into the digital asset industry, BKEX provides comprehensive details for each trend on its website.

Overall, BKEX’s Interface has a template allowing users to easily enter the world of crypto. This is good since the complicated process of entering into the digital industry is one of the factors that disrupt the mass adoption of crypto.

How To Trade Crypto on BKEX Exchange?

Users can easily trade on the Homepage of BKEX through the Beginner’s Guide, which instructs and guides investors in trading with crypto. Users can also conduct their trading through the “Express” option or through spot trading.

Step 1:  Just like any crypto exchange, the first important step is to complete the Know-Your-Customers (KYC). There are two KYC Verification steps to start trading in the BKEX exchange. Basic Identity Verification requires users to prove their identity, by scanning both sides of a government-recognized ID. The Advanced KYC Verification, which is recommended by BKEX, requires users to take a photo of themselves holding the government-recognized ID. After the verification is complete, which could take approximately 48 hours, users can move on to the next step.

Step 2: Users can then easily select the crypto they would like to buy. After typing the desired crypto, users must select the payment method to purchase the digital asset. There are four payment options through which users can conduct transactions: Bank Card, AliPay, WeChat, and PayPal.

Step 3: After the selection of the digital asset and the payment method, BKEX will automatically search and match a premium merchant to the user, who meets all the requirements.

Step 4: Once the transaction has been completed and the sellers confirm the receipt of the payment, the digital asset will be transferred automatically to the P2P Account.

Key Features of BKEX Exchange

P2P Trading

P2P Trading allows users to connect with premium merchants across the crypto industry. BKEX ensures that users are connected to merchants that match the users’ crypto and payment method, thus further simplifying the process while conducting transactions. Users can easily see their orders and the P2P bills. Moreover, future merchants can become part of BKEX by filling out the Merchant Application. 

Tri-Party Crypto Trade

The Tri-Party crypto Trade in BKEX allows purchasing of digital tokens such as BTC, ETH, and USDT. Users can trade with Visa Debit but can conduct the transaction only in the Advcash channel. As described by BKEX, once all the steps and the transaction is completed, the crypto that is bought will automatically be transferred to the BKEX account.

Express

While Express and P2P trading may seem similar to users, there is one difference.  Express ensures the crypto transactions that users desire will be automatically selected by BKEX. Once BKEX’s systems recognize the digital assets and the payment method selected, it will automatically match the correct merchant with the users. This makes it easier because users do not have to spend their time finding the correct merchant.

Spot Trading

Spot Trading allows users to make limit orders, market orders, and trigger orders. The Spot Trading feature in the BKEX allows users to analyze the market and figure out the market trends as it provides a Trading View chart of different cryptocurrencies. The Trading View chart has automatically set tools such as the Relative Strength Index (RSI) and the Moving Average (MA), to help determine the value of digital assets in the changing crypto market.

Perpetual Trading

The BKEX’s Perpetual feature allows users to perform a perpetual contract, a financial derivative with no expiry date, with a maximum leveraging of 100 times. BKEX claims that currently the exchange only accepts USDT as a margin for all its contract trading.

Derivatives Copy Trade

For users who would like to follow in someone’s footsteps, Derivatives Copy Trade is a perfect choice. Through the Derivatives Copy Trade, users can easily follow many industry-grade experts in order to place orders, close positions and so much more. In case the expert trader has closed the order and made the order, the users’ orders will also be closed with the earned profits locked. BKEX allows users to operate based on their wishes at any time. This feature also allows users to learn from the best and improve their trading.

BKEX Earn

Crypto investors are always on the lookout to earn more through different schemes and programs. BKEX Earn provides many services for investors with attractive incentives. Through BKEX Earn, users can access many one-in-all mining and wealth management services. Some of the BKEX Earn includes Smart Pool, Staking, Hashrate mining, and Fixed Income. Users can invest their digital tokens to gain stable high income or they can stake their crypto to receive rewards of an estimated APY of 20% approximately.

Express Mining

As part of the BKEX Earn, users can partake in Express Mining, which offers users daily earnings. They can choose from more than 20 mining pools. When users deposit their crypto assets into a mining pool, BKEX makes use of the digital tokens to conduct liquidity mining, thus, users receive mining earnings.

BKEX has four types of Express Mining: Short-term Mining, Fixed Mining, Launchpool, and Flexible Mining.  Each type of mining is built, with each having specific criteria and attractive rewards.   

New Sheik Plan

BKEX has a New Sheik plan for the community leaders. The New Sheik Plan gives users many rewards and incentives such as huge discounts, exclusive gifts, VIP perks, exclusive honors, and large rebates. Moreover, leaders and users selected for the New Sheik Plan enables them to alpha test new projects and stay ahead of the crypto world by getting first-hand information on upcoming projects.

However, if users wish to participate in the New Sheik Plan, they must first satisfy some of the criteria such as users and BKEX tribe leaders holding 200,000 BKK are mostly preferred. To qualify for the BKEX New Sheik Plan, users and leaders must have a community of at least 300 members or must have a social media presence of more than 2000 followers.

While receiving many rewards, the appointed BKEX New Sheik must actively participate in communities for at least two hours each day, hold at least one online or offline event under the theme of BKEX each month, and submit proposals for at least two projects each month.

Overall, the New Sheik Plan is an interesting concept and is one of the innovative features of BKEX.

Supported Cryptocurrencies

BKEX has many crypto projects within its exchange and allows the trading of more than 200 digital tokens. BKEX also brings in new tokens and projects, through various programs.

One such indication that shows BKEX is always on the lookout for more crypto is through its Token Listing Application on the website. As described on the website, BKEX promised to improve the listing materials, check the review progress in real-time, and accelerate the profile listing process.

Moreover, BKEX also provides users with the latest digital tokens in the market on its “Market” page. The new digital assets listed on the platform will show the price and the price change.

BKEX also supports many popular cryptos such as BTC, ETH, ADA, XRP, and USDT.

Following are some of the cryptocurrencies supported by BKEX

BKEX Trading Fees

When users make use of crypto exchange services to conduct transactions, it usually costs a certain amount of fees when conducting the withdrawal. There are also handling fees that are charged for the makers and takers.

For handling fees, BKEX charges the makers 0.15%, while the takers are charged 0.2%. Moreover, the handling fees in case of a perpetual contract are charged at 0.05% for the Makers and 0.05% for Takers.

Below is the list of the trading fees applicable for some of the popular digital tokens in the crypto market.

BKEX Exchange Pros and Cons

Pros

• Simple UI makes the exchange easy to navigate through pages
• Many programs provided, enabling users to earn rewards
• Online and Mobile Services
• Express feature allows users to trade easily and save time
• KYC Authentication ensures the security of your assets

Cons

• The fees are bit high
• Lack of detailed content to help new users
• Limited digital assets
• Lacks an NFT Marketplace

Final Score

• Services Offered: 3.5/5
• Cryptocurrency Support: 3/5
• Fees: 3/5
• Security: 3/5
• Review Score: 3.5/5

BKEX Exchange Summary

BKEX exchange is one of the crypto exchanges ranked among the top-20 in CoinMarketCap. BKEX continues to provide users with many earning programs through the BKEX Earn and it is one of the key features of this exchange.

BKEX exchange is one of the potential exchanges that could rise up in the future if it plays its cards right. 

FAQ

Disclaimer: This material must not be used as a basis for making any investment decisions. This serves as informative material about the crypto exchange. Trading digital assets involve high risk and can result in the loss of investment capital. Hence, always make sure to do in-depth research before engaging or investing in any cryptocurrencies.

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