BigONE Exchange Review 2021: Is it Scam or Legit?
Crypto exchanges are the gateways for traders and investors to enter the crypto world. BigONE is a crypto-to-crypto exchange platform launched in 2017. Today, we will review the BigONE exchange and its pros, cons, and other features.
Summary (TL; DR)
- BigONE is a crypto-to-crypto exchange platform launched in 2017. However, its exact origin is unknown.
- The platform’s website has a user-friendly trading interface that makes you easily navigate through the website.
- A blockchain investment firm called IN Blockchain supports BigONE.
- This exchange platform offers multiple crypto-assets and numerous trading pairs with cryptocurrencies like BTC, ETH, EOS, and QRU.
- BigONE supports margin trading and Perpetual Futures.
- The platform does not accept Fiat payments.
- First of all, visit BigONE. Signup and login into an account. Furthermore, until your verification process ends, don’t start depositing.
- Also, while opting for an exchange, look at its charting and make sure whether it feels right for you.
- Download the BigONE app and trade wherever you want. Furthermore, the mobile app is compatible with multiple devices.
- To ensure the highest security measure, T+1 is placed for OTC withdrawal.
- Every time you place an order, BigONE charges you a trading fee of 0.20%. However, there are no deposit fees, but a withdrawal fee of 0.0005 BTC is charged for every BTC withdrawal you make.
- BigONE supports both cold and hot wallets to store customers’ digital assets securely.
What is the BigONE?
BigONE is a crypto-to-crypto exchange platform launched in 2017. However, its exact origin is unknown. This exchange platform enables you to buy and sell 100+ digital currencies worldwide.
BigONE’s website has a user-friendly trading interface that makes you easily navigate through the website. In addition, a blockchain investment firm called INBlockchain supports BigONE. So, this exchange platform offers multiple crypto assets like BTC, ETH, EOS, ETC, ZEC, etc. In addition, the exchange platform offers numerous trading pairs with cryptocurrencies -BTC, ETH, EOS, and QRU.
The exchange platform has its BigONE Tokens based on Ethereum’s ERC20 standard. You can use the BigONE tokens to trade on the platform. Moreover, as stated on the website, BigONE‘s VIP program helps monitor users’ growth. Since it’s a crypto-to-crypto exchange, BigONE does not accept Fiat payments.
Though BigONE is a global exchange, it doesn’t offer support to US residents. The exchange platform also gives first preference to clients’ safety. The website has a highly qualified support team available to assist you 24*7. Also, while opting for an exchange, look at its charting and make sure whether it feels right for you. The platform supports charts and technical tools by TradingView.
How to start trading at BigONE?
1: Create an Account
- Visit the BigONE website.
- Sign Up for a new account with your mobile number or email ID
- Set a password.
- Login in again with your Password and Email.
- Enter the Authentication code sent by Google to your email.
- Wait till the KYC process (Know-Your-Customer process) get over.
3: Start trading
- Once the platform completes your KYC verification you can begin your trading journey.
- According to BigONE, until you complete the verification process you must not make any deposits.
- The BigONE exchange uses ‘On The Counter’ Trading (OTC) for withdrawing and depositing funds. OTC purchases cryptocurrencies using Alipay and WeChat.
4. BigONE withdrawal
- Firstly, log into your BigONE account and head over to the withdraw section from the Assets dropdown tab in the header.
- Secondly, choose the asset you wish to withdraw and enter the withdrawal address.
- Finally, transfer your funds to the destination address.
- However, BigONE only allows withdrawals after the completion of KYC verification.
BigONE Exchange Review: Mobile App
Download the BigONE app and trade wherever you want. This mobile app is compatible with multiple devices. The mobile app of BigONE is available for both android and apple users, and You can download it via Google Play or Apple Store.
Features of BigONE Exchange
- Spot/ Margin Trading: BigONE supports BTC, ETH, BCH, and 140+ premium tokens for spot trading. And BTC, ETH, BCH, and EOS cryptocurrencies also support margin trading.
- Perpetual Futures: BigONE places perpetual futures leverage up to 100x.
- Fiat Trading: To ensure the highest security measure, T+1 is placed for OTC withdrawal. Additionally, credit cards are also welcomed.
- BigONE Earn: BigONE helps users maximize their tokens’ value with BigONE‘s wealth management products generating AROR.
- Loans: Speed approval of 10000 USDT loans with a daily interest of 1 USDT
- PoS Mining Pool: BigONE offers more than 14 mining pool products for users to get the highest ARMOR in the industry.
- Trading Fees: Every time you place an order, BigONE charges you a trading fee of 0.20%. Usually, many exchanges divide the fee between Takers and Makers. Takers are those who ‘take’ an existing order from the Order book. Makers are those who add to their order book. Since BigONE charges no flat fees, both Makers and Takers have to pay a 0.20% trading fee. BigONE also offers trading fee discounts based on the membership level you achieved. A higher level has lower trading fees. Refer to the table below for more details.
- Withdrawal Fees: BigONE charges a withdrawal fee of 0.0005 BTC for every BTC withdrawal you make.
- Deposit Fees: The platform doesn’t charge any deposit fees.
BigONE Review: Customer Support
BigONE exchange has a support team available for 365*24*7.
- Live Chat: Live Chat option is available inside a blue chat bubble on the left-hand corner of the website.
- Articles: Various FAQs, articles, and news updates are listed inside the blue chat bubble.
- Request Submission: In the website’s ‘Support’ section, you can submit a request. Furthermore, the platform lists news updates and guidelines on the same page.
Is BigONE Safe?
The BigONE exchange prioritizes security above anything.
- Firstly, the exchange platform has both cold and hot wallets to store customers’ digital assets securely. Furthermore, BigONE stores 98% of your digital assets in cold wallets. And, the other 2% of customers’ digital assets are held in Hot wallets for trading.
- Secondly, to prevent identity theft, ‘Know Your Customer Policy (KYC) is enabled.
- Furthermore, the platform also has Two-Factor Authentication (2FA) that prevents third-party access to clients’ accounts.
BigONE Review: Pros and Cons
BigONE Exchange Review: Conclusion
Crypto exchange provides users with the necessary information, support, and trading tools to see success in your crypto trading. Launched in 2017, BigONE exchange is a crypto-to-crypto exchange platform that offers features like spot trading, fiat trading, etc with very low fees.
Each person has a different trading style. If BigONE caters to all your trading needs, then go for it. Otherwise, check out the best 10 cryptocurrency exchanges for other options.
Frequently Asked Questions
Is it safe to use BigONE?
Yes, BigONE is a safe crypto exchange platform. For account verification, you will verify your email ID and enable Two-Factor Authentication (2FA). Also, you have to show ID proof before the withdrawal. You also have an option to set a PIN. So, it provides an extra layer of protection. It is also stored in hot and cold wallets.
Are there any transfer limits in BigONE Exchange?
BigONE doesn’t state any withdrawal limits on its official website.
Which payment methods are accepted by BigONE Exchange?
BigONE accepts only cryptocurrency transfers, and it does not accept fiat deposits.
How long will my funds be available?
Since the withdrawal and deposit are automatically made. Availability of funds depends on the network status of your desired cryptocurrency.
Can Americans use BigONE exchange?
The BigONE crypto trading exchange is not open to US investors.
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