BingX: Honest reviews of the cryptocurrency exchange in 2024.
History of the BingX Company
Since 2018, BingX has been providing services for traders. The company has received several awards, attracted over 10 million users, participated in cryptocurrency events, and became a partner of the football club “Chelsea.” However, reviews from some investors suggest potential risks of partnering with this company. What really lies behind the façade of BingX? The answers to this question can be found in this article.
Facts about BingX
Initially, BingX appears to be a reputable organization that cares about its clients. However, the actual start date of the company is not in 2018, but in 2021. The domain that appeared in 2015 was later acquired and renamed, which also caused dissatisfaction among investors. Despite the company’s fresh appearance, many testify to dishonest activities and the name change from Bingbon to BingX due to negativity.
Although BingX claims to have branches in different parts of the world, the actual addresses remain hidden, as do the phone numbers. Recent reviews on social media raise suspicions of possible bot usage for inflating likes.
Documents and Permissions
BingX showcases permissions from AUSTRAC and the Financial Crime Investigation Service of Lithuania, but lacks other significant licenses. The company conducts its activities without proper oversight, despite plans to attract clients from around the world without serious control.
In one agreement, BingX exempts itself from liability for customer losses, causing additional concerns.
Working Conditions
The exchange advertises the BingX Academy for digital asset education, offering materials only in English. Spot and futures trading are also available, with a 0.1% commission on spot trades. Additionally, BingX offers the ability to copy successful traders’ transactions and participate in an affiliate program with earning potential from referrals.
Reviews and Deception Schemes
While not all reviews of BingX are negative, many complain about account blockages without explanation, as well as periodic disregard of issues by support. BingX’s fraud scheme is based on blocking accounts and stealing users’ funds, with no way to reclaim the stolen items.
Conclusion
The conclusion is clear: caution should be exercised when dealing with BingX, based on the experiences of other users. If you have anything to add or correct in this information, feel free to share your opinion in the comments.