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Bex500 Review: Cross-Asset Trading Platform of 2020

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    With Bex500, an individual can enjoy the benefits of trading classical assets with a cutting-edge crypto trading experience.

Bex500 Review: Cross-Asset Trading Platform of 2020
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Contents

When it comes to crypto exchanges, the average trader will utilize a limited, standard toolkit of some ordinary crypto trading pairs, bid/ask orders, and in some cases, fiat gateways and stablecoins. The Bex500 Crypto Exchange is a whole different story. This crypto exchange combines extended trading performance with a game-changing approach to crypto derivatives.

Bex 500: Highlights

Bex 500 is a cross-asset trading & exchange platform with up to 200x leverage for margin positions. Launched in 2018, it is now one of the leading platforms to offer four trading modes - Perpetual Contract, Forex, Commodity, and Double Contract.

Bex 500 also provides its clients with rare and exciting options, including a big start bonus (up to 0.2 BTC for the first deposit), zero withdrawal fee, low trading fees (0.05%) and not requiring Know Your Customer (KYC) checks.

Bex 500 seems attractive for both newbies and professionals in crypto and stock trading, offering a powerful support toolkit, and five language localization (English, Mandarin, Korean, Spanish, and Russian).

Bex500: Instruments & Assets

In the crypto exchange sphere, Bex500 offers trades with USDT, BTC, ETH, LTC, and XRP. For the commodity traders, the positions in silver (XAG/USD), gold (XAU/USD), and oil (WTI and BRN) are available. In Forex mode, Bex500 users can enjoy trading with major world currencies, including the EUR, USD, JPY, CHF, AUD, GBP, and CAD.

For experienced and at-risk traders, Double Contracts on BTC, ETH, LTC, and XRP are available in a one-click mode. The bidirectional biding mechanism (buy/long or sell/short) is offered to users, giving them the opportunity for profit in the bull or bear market.

Bex500: Trading Toolkit

Here are the useful trading options offered by Bex500 to make the trading experience safe and profitable:

  • Stop-Loss/Take-Profit Follow-Up Orders. Traders can set up a maximum loss or an awaited profit, and not have to spend his or her time waiting to execute the order.
  • Expected Margin Calculation. Traders can see how much he/she would earn at any time using a simple calculation tool.
  • Locked Position. Traders can set up positions of equal size on the same account and on the same instrument, but in opposite directions. Bex500 seems to be the only crypto exchange with a “locked position” feature available.

Bex500 for Newbies and Professionals

Bex500 is one of a few crypto exchanges that welcomes both newbies and old dogs in trading. For newcomers, the powerful demonstration mode is available with trial deposit of 5000 USDT. New traders can switch from testing to real trading in one click.

Bex500's Trading Academy provides several useful articles and tutorials to those who are unfamiliar with any form of trading. Newcomers will learn how to place an order, how to calculate profits and losses, the differences between trading modes and assets, etc.

For professionals, the Bex500 Crypto Exchange offers MT5 trading through both web interface and mobile applications on iOS and Android. The MetaQuotes trading system is frequently used by the banks and futures brokers in high-frequency trading applications. Advanced traders also have the option of applying EA trading or program trading to Bex500.

Furthermore, professionals can enjoy multiple sophisticated options through ordinary "manual" trading. For instance, old dogs in trading can enjoy the cross-margin option as an instrument of risk management. Combined orders with multiple follow-up options (stop-loss/take-profit, etc.) for one deposit are also available.

Bex500: Security and Privacy

With numerous instances of data leaks and crypto thefts from industry moguls like Binance, Bex500's detailed approach to security issues makes it look extremely attractive. High-level DDoS-protection, as well as 2FA-authorization (via mobile phone and e-mail), are implemented on this platform. High TPS is ensured by direct uplink to Amazon's cutting-edge ElastiCache infrastructure.

While strictly supporting AML-restrictions, Bex500 is no-KYC crypto exchange. This is of paramount importance because all crypto hacks are surrounded by personal data thefts.

Last but not least is Bex500's elaborate and brilliant customer support mechanism. You can reach them by e-mail and phone, Telegram, and WeChat, Customers can even reach them through Instagram Direct Message (DM)! Every request is processed within 12 hours.

Bex500: Fair Trade

Many experienced traders are aware of insider manipulations by exchanges. The most common practice here is to make the trading machine "unavailable" because it's overloaded, and to take the profit. The unmatched TPS of Bex500 ensures that the trading machines will not overload, even during peak trading times. As a result, all traders can close their positions as intended despite volatility.

We can also find news on various websites about the unbelievable rise and fall of major crypto assets being priced on "shady" exchanges. This is most commonly organized by botnet manipulations. The liquidation price in Bex500 is the weighted average of these from the world-level exchanges - Bitfinex, Binance, Poloniex, and Huobi Global. Because of this, no manipulation will affect the price of the crypto asset.

Bex500: Pros and Cons

Pros:

  • The only crypto exchange with real-world commodities
  • Rich trading toolkit
  • Options for professionals and newbies
  • Multiple bonus programs
  • No KYC
  • No withdrawal fees
  • Very low service (transactional) fees

Cons:

  • Poor translation with some languages
  • Mobile applications are still "under construction"
  • No fiat gateways
     
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About the author

 Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockhain. Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

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$13 Mln in ETH Transferred to Poloniex from Wallet Inactive for Almost 2 Years

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    The Whale Alert account reports that nearly 89,000 ETH was wired to Poloniex from a wallet that had remained inactive since April 2018

$13 Mln in ETH Transferred to Poloniex from Wallet Inactive for Almost 2 Years
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On Friday, the Twitter account Whale Alert that tracks large movements of crypto on the blockchain, spotted nearly 89,000 ETH (that’s around $13 mln in Ethereum) sent to the Poloniex exchange.

The account points out that the wallet which sent the money had been inactive since April 1 last year. No one has used it for nearly two years, apparently, waiting for the crypto winter to be over and hoping for a price surge afterwards.

One of the possible reasons of this wallet becoming active again is the Ethereum hard fork Istanbul which is about to happen today, on December 7, at block 9069000.

Very often the price of an asset goes up after a major upgrade (the Istanbul hard fork will not cause an appearance of a separate coin as it was with Ethereum Classic).

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Earlier, U.Today reported that the South Korean exchange Upbit suffered from a hacker's attack and lost around $50 mln in Ethereum. Whale Alert on Twitter has recently published data about $37 mln stolen from Upbit that was moved by the hacker from one wallet to another.

The head of Binance, CZ, has promised that all funds stolen from Upbit that would end up on Binance would be immediately frozen.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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