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- 1 BingX has an advanced trading tool that lets them conduct in-depth analysis before trading.
- 2 The SFC accused JPEX of fraud and lying about its licensing status in September 2023.
BingX is a top crypto exchange platform that has many features that a trader or investor should learn about as an active user.
BingX has a lot of features that traders or investors can use and discover. They can do more than just buy and sell crypto on BingX. BingX is a leading crypto exchange platform that has many features for its active users.
Here are 10 features that they should know about:
1. Copy trading
Copy trading is a way to trade crypto, for beginners and experts alike. Copy trading lets them copy trades from chosen traders with a good record. On BingX, they can change how they do copy trading and adjust it to their strategy and risks.
BingX has many skilled traders that they can copy every day to grow their portfolio.
2. Efficient Grid Trading
Another tool is Grid Trading, which is a tool that automatically buys when the price is low and sells when the price is high to make a profit for the trader. They just set up a price range, and their funds will be split into equal parts and work automatically. When the price of the asset goes down, it will buy, and when the price goes up, it will sell.
3. Wide selection of languages
BingX lets people from all over the world invest and trade crypto easily. With a few clicks, they can translate the site into the language they prefer, they just need to click the globe icon in the top-right corner.
4. BingX Affiliate Program
The BingX users can join the BingX Affiliate Program. They can apply to the program for free, and if they are accepted, they will get some great benefits on the site.
The benefits include things like exclusive backend access, faster withdrawal, lower fees, exclusive 24/7 customer support, and more.
5. Versatile currency adjustments
BingX makes sure that the site is set to the currency they like and they just need to go to the same globe icon as for the language filter and select the “Currency” tab.
There, they will find a big selection of currencies to pick from. They can find their currency and make trading faster without using a third-party website to calculate currencies.
6. BingX Academy
Besides having many crypto markets to trade from, BingX also cares about educating and teaching about crypto and trading. With BingX Academy, they will find a place for guides and tutorials that make their crypto trading journey easier.
7. BingX Rewards Hub
BingX always tries to reward loyal users, and the Rewards Hub makes sure of that. There, users get something extra for doing some things on the site. There are many tasks that users can try to complete to get rewards.
8. Favorable bonuses
Besides the BingX Rewards Hubs, users can also get bonuses along the way. The first bonus to look for is when signing up, as each new user can get a welcome bonus during their first deposit. The first-deposit bonus lets them get up to 5000 USDT in rewards.
9. Advanced Trading Analysis Tools
For traders who like to study each tradeable asset, BingX has an advanced trading tool that lets them conduct in-depth analysis before trading. They will see a detailed graph and with many filters, they can change to get the information they want.
10. BingX Events and Promotions
Lastly, BingX is not just a crypto trading platform but also a place where a community comes together. To help with that, they will find many events and promotions to join weekly. The Promotion Center adds another layer to all the bonuses and perks the investors and traders will find trading on BingX.
The JPEX Token Fraud Case
The SFC accused JPEX of fraud and lying about its licensing status in September 2023. The SFC said that JPEX was marketing its services and products to the public through social media influencers and OTC shops without having a license for virtual asset trading.
JPEX also said that it had licenses from some foreign regulators, and some influencers and OTC shops said that JPEX had applied for a license with the SFC. However, these statements were false, according to the SFC, because JPEX was not licensed anywhere and had not applied for a license with the SFC.
The SFC and the Hong Kong Police Force also got complaints from retail investors who could not take out their virtual assets from their JPEX accounts and, sometimes, their account balances went down.
Because of the alleged fraud, many OTC shops were closed; at least 36 people were arrested, including some JPEX officers and directors, JPEX employees, and social media influencers who helped JPEX market its products; and more than 2,500 customers were hurt.
The SFC said that JPEX has been on its watch list since March 2022, when the SFC started to ask questions about the platform’s false and misleading claims and unlicensed activities. JPEX did not cooperate, the SFC said.
After the JPEX case, the SFC started to publish the various names of the virtual asset trading platforms that have valid licenses and those that have applied for licensing with the SFC.
Summary
BingX is a crypto exchange platform with many features for its users. JPEX was a fraudulent crypto that lied about its license and scammed investors.
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
