BCEX Exchange Review

Launched in 2017, BCEX is one of the many cryptocurrency exchanges based in Hong Kong, which is considered a global hub for cryptocurrency exchanges. It also has its headquarters in Vancouver, Canada. Alongside cryptocurrency trading, the exchange also offers features like futures exchange. They are also supported by various well-known exchanges, as listed on their website. The exchange is mainly popular in Asia, especially in China, as its focus lies in that area.

The exchange offers a wide selection of cryptocurrencies, with the most notable ones being Bitcoin, Ethereum Classic, Litecoin, Ripple, Dogecoin, Qtum and many more.

BCEX offers a trading fee of 0.20% for takers, which is slightly below the global industry average of 0.25%. Though this is an advantageous fee, it should be kept in mind that it is common for competitive exchanges to charge fees around 0.20%-0.10%. As for makers, BCEX does not charge any fees, which is definitely an advantageous feature. The exchange charges a withdrawal fee based on percentages, which is not a common feature among exchanges. The percentage is fixed at 0.50%. Whether or not this fee is high or low depends on the amount that is being withdrawn.

BCEX does not allow fiat-crypto trading, which is unfortunate for new cryptocurrency investors as they will need to use another exchange in order to be able to start crypto-to-crypto trading. As for deposits, existing cryptocurrencies can be deposited with no fee to users’ accounts.

Their website is quite user-friendly as it offers a simple and practical design, though it doesn’t propose the most advanced interface out there. The website also features a short video on how to use the exchange, for those who are new to the cryptocurrency investing world. One downside is that such videos are only features in Chinese. There are only two translations featured on the interface: Chinese and English. This may pose an issue for those who are not fluent in either one of these languages. BCEX also features a mobile app which can be downloaded on iOS and Android, which is practical for those who prefer to trade on the go.

Security is ensured via e-mail and SMS verifications, though more detailed information on their security system is not provided. This points to a lack of transparency and hence could pose an issue for certain users.