cryptogamingguide's take on bitforex
"Leading One-Stop Digital Assets Service Platform"
How does it work?
As a global platform, Bitforex trades are supported in over 200 countries, with more than 300 trading pairs and well over 5,000,000 users around the world. BitForex is insured with penetration testing reports provided by Hackenproof annually. Secured by a significant portion of digital assets in cold wallet and supported 24/7 online customer service thus making it a unique place for trading cryptocurrency.
Unlike many trading platforms, BitForex offers a variety of products and services for its teaming customers. These include; CApp Town, BitForex MT5, EazySwap, BitForex sector and many others. Their platform uses the Tiered Margin Ratio System to help avoid liquidation of major positions having an important impact on the business liquidity of any account. BitForex offers deals with lower leverage to more prominent roles. Again, it deposits a portion of the whole asset of the transaction and keeps the remainder allowing the user to take leading positions without risking the cash.
Bitforex is a completely safe and legit trading platform. They have great security features, and user-friendly products. Stake coins, trade various altcoins, and use spot trading.
Why Bitforex and who are they?
BitForex by far is one of the world’s leading cryptocurrency exchange platforms in the world. They provide a wide range of trading products including but not limited to sports trading, margin trading, and derivatives. By constantly launching new features and products, BitForex shows its capacity to adapt to user’s needs.
Their mission is to create a safe professional and convenient platform for users to be involved in the next financial generation.
Are they safe? By providing safe and asset security management solutions, to all of their users, BitForex proves to be the safest place to trade. How professional? With a high performance matching engine, BitForex is capable of processing a mind-boggling 1,600,000 orders per second. What about convenience? With over 300 plus trading pairs on sport trading and other services like margin trading, derivatives etc. BitForest proves to be one of the best and convenient places to trade.
BitForex Exchange Features
BitForex SectorThe BitForex sector or (BF) is the DeFi zone available on the site. This section shows the DeFi tokens available; clicking on a trading pair under “Spot” will take the user to the spot exchange if staking on any of the tokens listed.
BitForex EazySwapEazySwap is a decentralized token mechanism based on the ERC20 standard. There are no gas costs, little slippage, and quick matching on this exchange, and there are over 980 distinct ERC20 tokens to pick from and trade. Liquidity pool providers are rewarded with up to 100% of the pool’s trading costs.
Currently, only ERC20 coins are supported on the business site, but they plan to add support for mainnet tokens shortly. There are fewer listing criteria on EazySwap than on other DEXs if the user wants to list a token.
CApp Town – CApp Town is one of the features of BitForex that links cryptocurrency account holders to multiple Blockchain apps. Finance (Paxful, Matrixport), entertainment (Twitch), and information are some of the application areas available (CoinGecko). On their business site, users can even apply for their own CApp.
Ethereum 2.0 Staking – With Ethereum 2.0 Staking, holders can stake Ethereum tokens on BitForex. Holders can also start staking with as small as 0.1 ETH and keep or exchange staked ETH at any time. The site will provide staking incentives and platform fees by staking ETH on BitForex; the staked ETH will become ETH2, which will be instantly available for trade.
BitForex API – Other APIs utilize Post mode, while their Quote API uses Get Mode. Method request/access server addresses, API access credentials, request time, and SignData must all be signed for API queries outside APIs. Spot’s API supports a wide range of data types, including ticker, depth, cancel an order, symbol, etc.
Perpetual Contracts – This product from BritFex has a user-friendly interface. There is contact information on the left side of the account page; on the right, the order book, and at the bottom, there are positions with specifics like P&L and open orders. The perpetual contract allows for leverage of up to 100x.
MetaTrader 5 – BitForex offers a MetaTrader platform (MT5) that allows account holders to trade traditional financial goods with additional features and possibilities. With this product, they hope to broaden the economic landscape of the BTC sector by doing so. The costs are minimal, and base currencies for an MT5 account include BTC, ETH, USDT, and XRP.
Social Trading – Social Trading, also called Copy Trading, will link the portfolio of other users’ portfolios. However, one can use this feature for traders using the BitForex trading site account.
BitForex Turbo – Majority of the IEO projects in recent times carry zero monetary value. Fortunately, this site offers a beautiful opportunity for upcoming IEO projects with zero potential for growth in this contracting industry. BitForex Turbo is a listing platform, created by BitForex for premium IEO listings all over the world. Customers can also view trade pairings, total allocation, start/end times, etc.
Spot – The user interface for spot dealing is very simple. Trading pairs are usually on the left, in the middle is the price chart; the order book is on the right, and assets buy and sell access options are at the bottom.