Introduction to BKEX
BKEX has only been around for about a year, but in this time it has managed to grow into a relatively huge operation. It is based in China but serves customers in almost every country around the world. BKEX advertises itself as the “world’s leading blockchain financial derivatives service platform.” It processes well over half a billion dollars in trades on any given day. For those who don’t mind risk, BKEX offers futures trading with leverage up to 100x.
Why use BKEX?
BKEX supports over 450 trading pairs, including many coins that aren’t readily found on exchanges of equal size. While some of these pairs don’t have much trading volume, others do, meaning you’ll likely be able to buy or sell smaller altcoins at a fair price. In addition to this, the account creation process is super easy and requires only an email address to get started.
How to trade on BKEX
BKEX offers the following trading types:
- Spot. The usual exchange of one coin for another.
- OTC. Allows bigger traders to place single, large orders with other large traders.
- Contract. Allows for the leveraged trading of certain coins, with up to 100x leverage.
If you are here to just get in with one coin and out with another, you’ll want to do Spot trading. If you are more of an advanced trader with an appetite for risk, Contract trading is available for a number of popular coins.
BKEX uses a Maker/Taker fee system where Taker (market order) fees as 0.20% and Maker (limit order) fees are 0.15%. Fees can be reduced by using the exchange’s utility token, BKK. When paying in BKK, trading fees are reduced 75%, making it one of the more useful exchange tokens out there.
Overview of supported coins
BKEX lists over 200 coins across 300+ trading pairs. While many of these pairs have little to no volume, several pairs have substantial volume, including those that aren’t normally easy to find on a major cryptocurrency exchange. Coin pair backs include:
Though their coin and token selection is too massive to list, some of the heaviest traded cryptocurrencies on BKEX are:
Thus far, BKEX has not suffered any hacking incidents and seems to be a fairly competent operation. The exchange still has quite a ways to go before it can prove itself as trustworthy to the community, but if you aren’t planning on leaving serious amounts of coins there for long periods of time, you’ll most likely have nothing to worry about. Be sure to use BKEX’s 2-FA option before making your first deposit.
Wrapping it up
BKEX is good option to have at your disposal if you are a mid-cap altcoin trader. The registration process is simple, trading pairs tend to have a lot of volume, and there’s a diverse selection of coins and derivatives to trade. The UI isn’t the best and neither is the spot trading screen, but it seems to be dependable, which is an important quality for any exchange to possess.