Biconomy Exchange Review
Biconomy Exchange is a centralized exchange that occupies #62 on Guru InvestingExchange Tracker. Biconomy Exchange has trading volume US$607,453,350 in the last 24 hours and US$251,421,222,446 in the last 7 days.
Biconomy Exchange currently has 151 cryptocurrencies, thirty paper currencies and 152 markets (cryptocurrency trading pairs). The most popular trading pair on the Biconomy exchange is BTC/USDT.
Compare Biconomic exchange next to other exchanges here: Exchange comparison tool.
The Biconomy cryptocurrency exchange was founded in 2019 and is headquartered in Canada. One of the main goals of the exchange is to revolutionize the digital economy by providing a package of services. Some of these services include trading, liquidity management, marketing and promotion, community building, networking and much more.. The platform also provides customized, flexible alternatives for successfully implementing blockchain solutions.
Biconomy cryptocurrency exchange has strong KYC verification system. The platform verifies personal information such as names, phone numbers and email addresses. Additionally, government-issued identification is required during this process. Finally, all users must upload a selfie with a note attached. These measures are necessary to ensure that the platform complies with all AML regulations and counter-terrorist financing laws.
The list of countries supported by the platform exceeds 100. However, some countries have anti-cryptocurrency rules. Therefore, before choosing an exchange, it is recommended to check whether cryptocurrency trading activities are allowed in your country.
Markets
There are three main markets on the exchange − USDT, USDCand BIT. There is also 140 Biconomy Exchange trading pairs available. The platform supports major cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Ripple and others. In addition, it serves cryptocurrency-crypto and fiat-crypto trading platform. This gives greater flexibility to traders and exchange users.
Spot trading and futures on Biconomy Exchange trading are the only trading options available on the platform. In terms of trading fees, the platform charges fixed commission for Biconomy cryptocurrency of 0.20% on Maker and Taker transactions.
Cryptocurrency deposits are free, but cryptocurrency withdrawals incur a Biconomy Exchange fee. The platform also allows deposits in fiat currency. The exchange accepts deposits in US dollars, euros, pounds sterling, rubles, tenge, hryvnia and BRL. Fiat currency deposits also incur bank fees and platform processing fees.
BIT token is the proprietary utility token of the Biconomy crypto exchange. Holders of BIT tokens have special trading commission conditions on the exchange, which depend on the number of tokens they own. In addition, owning BIT tokens provides the opportunity to gain ownership of high-quality blockchain projects invested by the Biconomy Foundation, lowering the threshold for users to participate in tier-1 investments. You can find more information and the current cryptocurrency price on the Biconomu exchange. Here.
other services
As a trader, you can purchase cryptocurrency using fiat or credit cards. In addition, the platform allows peer-to-peer trading of crypto assets. As an added bonus, cryptocurrency transfers between users on the platform are free.
In addition, the Biconomy cryptocurrency exchange launched betting platform so that users can earn money from their crypto assets. With this feature, users lock their tokens and coins for a specific time to receive rewards. The cost of rewards is determined by the duration of the token placement.
In addition, the exchange has IDO function for crypto projects who want to launch on the platform. This feature provides pre- and post-launch services to these projects.
Finally there is NFT launchpad for NFT projects on the exchange. With this feature, NFT creators can buy, sell, and trade NFTs.
About company
Biconomy exchange was founded in 2019 Dmitry Sheludko. He is an experienced, visionary leader and strategist in the world of digital assets. He is an advisor to many cryptocurrency projects, as well as to several government agencies responsible for regulating cryptocurrencies. Dmitry has a degree in economics and psychology from Yale University.
The Biconomy cryptocurrency exchange is constantly evolving and evolving. By adding new features, they built a loyal customer base. As of 2023, they have over 350 thousand clients and a quarterly trading volume of $12 billion on Biconomy Exchange. You can always see the current Biconomy Exchange volume above.
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A cryptocurrency exchange is an online platform where you can buy, sell, or trade cryptocurrencies like Bitcoin, Ethereum, and others.
Safety varies by exchange. Look for platforms with strong security measures, like two-factor authentication and cold storage for funds.
Consider factors like security, fees, available coins, user interface, and customer support.
Centralized exchanges are managed by a company, while decentralized exchanges operate without a central authority.
Many exchanges require Know Your Customer (KYC) verification for security and regulatory compliance.
Trading fees vary but typically include maker fees (for adding liquidity) and taker fees (for removing liquidity).
Yes, most exchanges offer cryptocurrency-to-cryptocurrency trading pairs.
Withdrawal times depend on the exchange and the cryptocurrency. Some are instant, while others may take hours or even days.
A wallet address is like a bank account number for cryptocurrencies. It’s required to send your crypto to the right place.
Yes, depending on your country’s tax laws, trading cryptocurrencies may have tax consequences. Consult a tax professional for guidance.
Yes, many cryptocurrency exchanges operate 24/7, allowing you to trade at any time.
A market order buys or sells at the current market price, while a limit order sets a specific price at which you want to buy or sell.
Yes, each exchange sets its own minimum and maximum trading limits, which can vary widely.
It’s not recommended. For security, it’s better to use a cryptocurrency wallet, especially for significant holdings.
Exchanges typically have account recovery processes, including password reset options and support for forgotten usernames.
Some exchanges offer insurance, but coverage can be limited. It’s essential to check an exchange’s insurance policy.
Use strong passwords, enable two-factor authentication, and be cautious of phishing scams and suspicious emails.
Yes, but it’s recommended to learn the basics of trading and understand the risks involved before you start.
Stablecoins are cryptocurrencies pegged to the value of a fiat currency like the US dollar. They provide stability and are commonly used for trading and transferring funds on exchanges.
Yes, regulations vary by country. Many countries have implemented or are considering regulations to govern cryptocurrency exchanges for consumer protection and financial stability.
