Bexplus Review 2020

Profile

Website: https://www.bexplus.com/

Has iOS app: Yes

Has Android app: Yes

Service: Futures trading on prices of Bitcoin, ETH, LTC, EOS, and XRP

Launch Year: 2017

Headquarters: Hong Kong

Pros of Using Bexplus

  • Privacy - No personal details are requested when signing up (No KYC)
  • Easy registration - Only email verification is required
  • Flexibility - Long & short trades to earn profit whether the price goes up or down
  • Profitability - 100x leverage to 100x the earning
  • Fees - 100% transparent in a Profit/Loss Calculator
  • Smoothness - Quick execution with the smallest slippage
  • Beginner-friendly - A 10-BTC funded demo account to learn how to trade and practice strategies
  • Languages - English and 14 other languages
  • Multiple Devices - Windows, MacOS, Android, iPhone
  • Support - 24/7 Customer Service

Cons of Using Bexplus

  • Product variety - Only crypto trading pairs, no stocks, and oils futures
  • Available Regions - Does not allow traders from China / Cuba / North Korea / Spain

How to Register an Account

Unlike USA-based exchanges like Coinbase, Robinhood that will ask for your sensitive personal details like phone number and physical address, Bexplus does not require you to submit any documents to use its services. Exemption of KYC / AML procedures allow you to create a full-featured account just in 30 seconds, all you need to do is verify an email address.

For those who are concerned about their privacy, it’s recommended the use of a dispensable email address and the use of a Virtual Private Network (VPN).

How to Practice and Improve

A demo account is created for you when you have the trading account in hand. The demo account has a 10 BTC balance so that you can test bold and wild trading strategies. All trading operations are simulated in a sandbox environment where all prices are tequal to those on the real market.

Access to the demo account is integrated in the same website/app so you can switch between the real account and the demo at any time.

Bexplus also provides academy materials and 1-on-1 trading education if you need it. Be patient and make sure you have understood how to manage your insights and trade with them.

How to Deposit Funds and Withdraw Earnings

After registration, you will get two financial accounts: the trading balance and a wallet account. The funds you deposit will go to the trading balance. Just click on your username on the top-right corner, and you will see the Deposit button in the right sidebar.

Going into the Deposit page, there is a BTC wallet address which is used to receive your deposit. You can copy the address or scan the QR code with your own BTC wallet. Bexplus does not charge fees on deposits but the blockchain network will generally charge a very small fee for the transaction.

The minimum deposit amount is 0.001 BTC.

If you have no bitcoin in hand, Bexplus provides a gateway service called “Changelly ” to swap USD, EUR, and GBP for bitcoin. Changelly will charge you 0.25% as a service fee for exchanging the funds. You don’t need to register an account or provide anything to Changelly.

As described in the official website, your bitcoin is stored in offline cold wallets that are immune to online attacks. A cold wallet is not connected to the internet, so hackers are unable to get to it.

Once you have made a profit at Bexplus and want to withdraw, just locate the “Withdrawal” section in the same sidebar. Submit the desirable withdrawal amount, and the application will be sent to the financial department to review before your funds can be moved out of the cold wallets.

Users need to confirm their address via email to double-check the bitcoin address. The whole procedure usually lasts from 5 minutes to 1 hour. The withdrawal window is open 24 hours a day to make no obstacles to keep your cash flowing between different exchanges and wallets.

Tips to Trade and What Tools to Use

Market Shifts Are a Good Thing for Futures Trading

Market shifts are deeply loved by futures traders because traders can make profits through a short trade even in a bear market. While many people were losing money in the stock market plunge last month, some bitcoin traders were making profits by shorting bitcoin. As much more uncertainty is seen globally, market shifts are a secret path to make some profit online.

Fewer Margins, Higher Profits

Bexplus provides a 100x leveraged trading feature. A 100x leverage allows you to invest 1 BTC but enjoy the profits equal to 100x BTC investments. It amplifies price changes to 100x more. For example, if the price increases or falls by 1.25%, a 100x leveraged position in the right direction will be settled as a 125% change, meaning that your investments are empowered 100x.

Stop-loss Preset

A loss might happen if the price of bitcoin goes in the opposite direction of your trade. With Bexplus’ stop-loss feature, the system will automatically close the position when you’re asleep to secure your funds.

Bitcoin Hodlers Who Trade Less Can Make a Profit As Well

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High annual interest (APR). The annual interest offered by Bexplus looks very attractive compared to the rates of competitors: with Bexplus’s minimum interest being at 18%, while most services offer just 4-10%.

Fast withdrawals and no penalties for early withdrawals. Bexplus allows withdrawals at any time and manages all its requests within 1 day. No penalties for early withdrawals are used: investors are able to take their coins if they change their mind (and still receive the interest).

Low minimum deposit amount. Investors can make deposits starting from 0.05 BTC. Most lending platforms limit minimal amounts to 1 BTC.

Two-factor authentication and cold storage. Most of the bitcoins are stored in an offline storage system (cold storage), while only a small amount is kept in the hot storage. The platform uses multiple signature access, all the transactions are performed manually by several staff members.

Quick access to trading. Bexplus mainly is a trading platform, so if you want to trade your stored BTC transactions to the trading account is instant and has no commission fee.

Is it too good to be true? Apparently, these high-interest rates can beat almost all other investment products in the world, how could they be real? From the rules of the savings feature we can see why it can keep on running: (1) if the user does not trade after 30 days, the interest rate will drop to 3% which is quite reasonable; (2) leverage trading generates high profits, much more than spot trading to support such a promotion.

Conclusion

The most significant advantages of using Bexplus are its concise interface and the beginner-friendly demo account. Bexplus offers tools to balance high profits and risk controls to make use of 100x leverage trading. No KYC verifications keep Bexpus a safe harbor at a time in which some exchanges have records of leaking users’ personal data or even expose data to government agencies. The interest-bearing wallet service makes Bexplus stand out from all crypto futures exchanges.