When it comes to trading cryptocurrencies, even if you already have advanced trading knowledge, you may not know exactly how to get started or how to safely carry out your operations to minimize risk.
In this context, exchanges are emerging, which are platforms that make this task easier for users, traders and investors, and provide trading instruments and all kinds of products for safer operation.
There are many in the market, some are large and involve millions of daily operations, but today we’re going to talk about one created in 2018 that has a lot to talk about: Bingbon.
It is a young and dynamic exchange where half a million users already trust to work with cryptocurrencies, both experienced traders and beginners, as it has tools to gradually enter this market, theirs To be able to train and know basic characteristics of what is known as social trading, which we will explain later.
In addition to social trading, which is unique in its industry, this exchange also outperforms the rest due to the enormous variety of services offered. In this sense, Bingbon’s product portfolio is tailored to the needs of all types of investors: those who want to operate with cryptocurrencies, but also those who want to invest in traditional markets. Both profiles have a place. And of course, if you want to invest in both, you can too.
It is very easy to use as there is a very intuitive website where you can see the real time price of the major currencies on the home page. There is a lot of information and opportunities that it houses by browsing its menus. You can also download the mobile applications free of charge for devices with iOS and Android operating systems, using most of the options available in the desktop version. You can work with them anytime, anywhere and stay up to date on the performance of your investments.
Either way, you can personalize your experience. In this way, you can choose different modules for the interface and always be informed about the indices that really interest you, in order to keep up to date with the developments in the markets. On the other hand, security is guaranteed, which is essential for operating with assets and crypto currencies. Transactions are protected with SSL encryption and 2FA authentication.
With Bingbon, you can invest in the major cryptocurrencies on the market, not just Bitcoin and Ethereum, but an additional dozen pairs with the US dollar. These are the currencies you can invest in: BTC, ETH, XRP, LTC, BCH, LINK, ADA, BSV, EOS, TRX, XTZ, ETC, DOT, UNI and FIL.
The contracts are open-ended and allow different types of margins. However, with Bitcoin and Ethereum, you can also choose different contracts. If you are interested in derivatives of traditional assets powered by cryptocurrencies, you can also trade your contracts in dollars using the following list of currencies: EUR / USD, EUR / GBP, EUR / JPY, GBP / USD, USD / CAD, USD / JPY and AUD / USD. Indices: S & P500, NASDAQ100, DJIA, Nikkei225, Dow Jones, Russell2000, DAX, Hang Seng and FTSE100. In addition, you can work with commodities such as gold, silver and oil.
Bingbon also allows you to make deposits in cryptocurrencies such as USDC, USDT, BTC and ETH. They are run for free with no commissions, although they are applied when the funds are withdrawn, despite being some of the lowest in the industry.
Commissions are also applied when trades are opened or when exchanges are made. However, they are always among the lowest, even when compared to those on the major exchanges. Hence, bingbon is a great option.
What is social trading?
Undoubtedly, one of the hallmarks of Bingbon is the practice of social commerce. That means providing traders, regardless of their level of knowledge, with tools that they can use to gradually enter and learn in this area without investing risk.
With that in mind, Bingbon has two main tools: the following:
-Demo trading: This is a highly recommended option for those who are less experienced in investing and don’t want to take risks. With this tool, you can practice all kinds of trading techniques with cryptocurrencies but use virtual money, a currency called VST (which is the equivalent of a USDT). That way, traders’ capital is not at risk, who can learn without losing their money.
-Copy trade: Another interesting tool from Bingbon is this one that can be used to replicate the activities of the best traders. In this way, any user can learn from the techniques of the most successful investors and know the operations they perform. There is of course some risk, but it is less because it goes “hand in hand” with experienced investors.
Bingbon is one of the safest exchanges you will find when trading derivatives and cryptocurrencies. With the guarantee of having helped hundreds of thousands of people invest in the market for years, and with the opportunity to benefit from social trading and learn from the best, this is hands down one of the exchanges to try out if you are successful want to trade the field of cryptocurrencies.