In the world of cryptocurrency trading, there are a lot of exchange sites considered as hidden gems. Although these platforms have yet to enter the list of major crypto exchanges, they have the potential to rival even the biggest exchanges out there in the coming years.
With a bright future ahead due to its impressive performance in the market, Singaporean crypto trading platform BigONE is one of these hidden gems. Discover more about this crypto exchange as you read along here at BTC Post!
An introduction to BigONE exchange
BigONE is a crypto-to-crypto trading platform that allows you to buy and sell a wide variety of cryptocurrencies. The Singaporean exchange was founded in November 2017 by its CEO Eric Meltzer and is currently operating in China and Singapore. Although it’s relatively new, BigONE already has a long list of supported cryptocurrencies such as BTC, ETH, BCH and more.
Additionally, BigONE has its utility coin called BigONE Token with the ticker symbol ONE and a current market cap of 35 million. While the exchange is currently not available for US citizens, it still caters to many other crypto users in countries like Singapore, Japan and Korea.
To provide the most secure and convenient trading and trusteeship services, BigONE operates with the use of high-quality technologies and risk management. According to its website, the exchange believes that people in the Digital Age should be provided with a better choice in having a safe, convenient and trustworthy platform.
Features of BigONE
BigONE exchange offers a lot of advantages that make their exchange user-friendly for both new and veteran traders alike. Here are the best features of BigONE:
BigONE is not only available through a web browser, but you can also download the mobile application on both iPhone and Android phones. With this, you can easily trade anytime and anywhere with ease.
Over the counter (OTC) trading
BigONE offers over the counter trading where users can purchase cryptocurrencies from other users. By allowing users to pay via WeChat Pay and Alipay, the process of withdrawals and deposits are made more straightforward and easier.
One of the best features offered by BigONE is its security. Crypto users have the freedom to trade without compromising their security because BigONE protects its investors from cyberattacks that have always been a big problem in the market.
BigONE implements the following security protocols to ensure the safety of its investors:
Multiple Signature Cold Wallet
BigONE users have the option to choose between cold and hot wallets to keep their digital assets safe. About 98% of the total digital assets in BigONE are stored in cold wallets found in different offline locations. Meanwhile, only 2% of the total digital assets in BigONE are kept in hot wallets.
Know Your Customer (KYC) policy
BigONE exchange utilizes the Know Your Customer policy to protect users from identity theft and terrorist funding. With KYC, BigONE ensures that the trading accounts of its users are traceable to the real individual.
To comply with the KYC policy, exchange platforms must collect information about its clients’ identities. This is possible by requiring all customers to provide accurate identification including contact information, proof of identification and a photo.
Two-Factor Authentication (2FA)
The exchange requires a two-step verification and notification for its users before they can log into their account. This is to make sure that user activities such as logins, withdrawals and account changes are protected and can’t be tampered with. BigONE requires 2FA to protect its users’ accounts from unauthorized access.
The trading fees differ in every exchange platform, but in BigONE, both the takers and makers who are new to the platform have the same flat fee of 0.20%. When it comes to contract trading, takers pay 0.06% while makers only pay 0.02%.
BigONE’s withdrawal fees are slightly lower than the industry average. For instance, its withdrawal fee for BTC is 0.0005 BTC while most exchanges have an approximate fee of 0.0008 BTC per withdrawal.
BigONE exchange allows its users to see the real-time trading view of cryptocurrencies. It shows the order book, the price chart of chosen cryptocurrency and order history. The trading view also has the buy and sell boxes to make it easier for users to trade.
How to register in BigONE exchange
Get started with BigONE by creating an account. Registering in the exchange is easy and here’s how you can do it:
When you create an account in BigONE, you have the option to register using your mobile phone number or email address. Either way, you still need to verify your identity once you’ve created your account.
- Provide the email address of your choice on the respective space and hit send
- A verification code will be sent to your email and you must input on the box below your email address.
- Set your password. It should be 8 to 20 words long and should contain numbers, letters and symbols.
- Confirm your password.
- Tick the box for the User Agreement and Privacy Statement after reading.
- Click ‘Sign Up’.
- Change the area code according to your location and place your mobile phone number.
- Hit ‘Send’ and a verification code will be sent to your number.
- Once you receive the code, place it on the box below the mobile number and set your password. It should be 8 to 20 words long and should contain numbers, letters and symbols.
- Confirm your password and tick the box for the User Agreement and Privacy Statement.
2. Set asset PIN and Google Authenticator
- Once you’re in your account, you must get an asset PIN. Click on the account security and verify your phone number.
- Change the area code according to your location and place your number beside it.
- A verification code will then be sent to your phone. Type it on the box below your phone number and hit ‘Send’
- After that, you can now set your asset PIN. Enter your preferred PIN and verify it by typing it again on the box below.
- Another verification code will be sent to your mobile number.
- After setting the asset PIN, you now have to enable your 2-Factor Authentication. This is possible by downloading the Google Authenticator on your phone.
- Follow the steps provided to you and scan the QR code.
3. Deposit funds
Before you can begin trading with different cryptocurrencies, you must deposit funds in your account first.
Here’s how you can do it:
- Click and go to ‘Funding Account’.
- There, you can either deposit, withdraw, transfer or check your funds.
- Provide the type of currency you want to use.
- Once you’ve placed it, click ‘Deposit’ and you’ll be transferred to the currency deposit page where you can place the amount you want.
Begin trading in BigONE today!
Although BigONE is quite new in the world of crypto trading, its security and customer service already says a lot about the exchange’s priority. Find out what BigONE can offer once you start trading with them today!
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