cryptocurrency

BigONE Exchange Review | 2019 Guide

What is BigOne?

BigONE is a crypto-to-crypto exchange that was established in 2017, which enables users to trade with bitcoin (BTC), ether (ETH) and other altcoins. BigONE is also backed up by INBlockchain,  the largest blockchain investment firm in China.

BigONE is registered in Singapore and mainly operates in China with additional offices across South Korea and Singapore. Its CEO is Eric Meltze who is a blockchain investor focusing on early-stage investments in meaningful blockchain applications. He is a dropout from Peking University, where he did research in a lab focusing on the neural circuits underlying complex behaviors. He is a native of San Francisco and became interested in blockchain tech in the early days of Bitcoin.

Available countries

BigONE’s services can be accessed by residents from a number of countries, including Australia. Unfortunately, US-based investors are prohibited from trading on its exchange.

To know for sure that your country is supported, contact BigONE support directly.

Supported cryptos

The platform currently supports BTC, ETH, EOS, USDT, ADX, AE, AIT, ATN, ATT, BAT, BCDN, BIG, BTO, CANDY, CDT, CHAT, AT, CPS & over 142more cryptos.

It also has its own BigONE tokens, ONE, that are based on the ERC20 protocol and also be used in trading on the exchange.

Interface

BigONE features a sophisticated interface that might overwhelm the novice trader. But there is a dashboard chat room where users can help other traders with their various queries.

The features are intuitive and easy to navigate, such as the buy and sell buttons showing the DGD trade that are visibly placed on the dashboard, an order book, a price chart of the selected cryptocurrency and order history.

Fees

The BigOne exchange charges the same fee for both takers and makers. The platform applies a flat fee of 0.10% for all trading activities. Investors that opt to select existing orders from the order book, can find this fee trading model very attractive.

A withdrawal fee is also applied, and this varies depending on the crypto you choose to withdraw. For example, for withdrawing ETH the fee is 0.01 ETH, for EOS the fee is 0.01 EOS, ZEC- 0.002 ZEC, Litecoin is 0.01 LTC, QTUM- 0.2 QTUM, Ethereum Classic- 0.01 ETC etc.

The withdrawal fee charged by BigONE is 0.001 BTC for withdrawing BTC. This fee is lower than the industry average.

Accepted payment methods

As BigONE is an exchange that deals exclusively with crypto, it only supports cryptocurrency deposits and does not accept any deposits in fiat currency. However, they can buy crypto with fiat currency via BigONE’s OTC, a convenient feature that only a few exchanges have.

How safe is BigONE?

BigONE claims that it is the most secure exchange in the industry, as they make security their top priority. They do give an explanation as to why security is such an important aspect for them and they detail the procedure implemented to ensure account security. What motivates founders to start the venture in the first place was to solve traders’ imperative need in response to the security hackings that were undermining other bitcoin trading platforms.

They believed “the community deserved better,” and that is why they focus so heavily on security. BigONE claims that they implement a “trustworthy infrastructure” to offer a “high-class trading experience” which features speed, accessibility, and secure cryptocurrency management.There are no accounts of BigONE to have been a victim of any hacks or security breaches.

In order to register for an account on BigONE, your email address will have to be verified. You will also have to activate 2-factor authentication before you can deposit any cryptos into your account or commence trading. The whole KYC process is very straightforward and only takes less than 1 hour to get verified.

You are also able to set up an asset PIN, which is a six-digit number that you select and use each time you make a withdrawal.

Customer support

Should users have any questions or issues with their account, BigONE features an online help center that has answers to a variety of FAQs. Users are also able to directly contact the customer support team by submitting a support request via Zendesk and get an instant response from the team 24/7 (we personally tested it before)

ONE Ecosystem

This might be a groundbreaking new business model that pour extra revenues to its business besides trading fees. The whole ecosystem is inundated with BigONE Token, ONE, which is its own token that is listed on Coin Market Cap https://coinmarketcap.com/currencies/bigone-token/

The ecosystem has plenty of cool products significantly adding financial values to its ONE token holders and other business partners and communities. The Professional Cryptoassets Angel Platform AngelONE and the decentralized cryptocurrency exchange BigDEX are definitely unique among hundreds of other exchanges. It’s interesting to see how BigONE will tailor its ecosystem strategically and launch more fascinating products in the upcoming futures.

https://angel.big.one/

https://dex.big.one/

You can learn more about other great products at Big.one

Pros and cons

Pros

  • A wide variety of supported cryptocurrencies
  • A decent 0.1% trading fee
  • User-friendly trading interface
  • No hacks so far. Extremely secure
  • Margin Trading available
  • Professional customer support team

Cons

  • KYC required
  • US region prohibited

Verdict

BigONE recently acquired BaseFEX.com, a cryptocurrency derivative exchange that supports Perpetual Contract up to 100x leverage. It’s interesting to see how this merger and acquisition can further enhance the whole BigONE ecosystem and leverage BaseFEX’s advanced trading technologies that can no doubt boost BigONE’s performance and its global reputation in the future.

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