- Country: China
- Regulation: no
- Markets: cryptocurrencies
- Deposit: by tokens
- Commission: 0.1% in trading
What is Bigone?
BigOne is an Asian cryptocurrency exchange house that climbed to the top of the world ranking for cryptocurrency trading volume in 2018. This can be considered a feat since the service started to take place in late 2017. I guess this is due to massive success in Asian markets, especially Chinese, where the company is supposed to be from. I say it is assumed because it is not easy to find the origin data of this exchange house.
BigOne’s website is simple and not too confusing – hence also the lack of any information – and it is aimed at ensuring that clients will have accounts and trade without too many frills.
The fact is that BiOne offers BitCNY trading, which is the Bitcoin pair with respect to the Chinese currency. This is the clue that it is a Chinese exchange house, which also has to have contacts with the State of that country, that is a pair that you will not find almost anywhere.
Customer service is provided through contact through a message drop provided on the network.
The fact is that it is a money exchange that at the end of 2018 has an enormous volume of transactions, surpassing Okex , Huobi , Bitfinex and other more classic names in the industry.
This house offers pairs trading of BTC, ETH, EOS, QTUM, USDT, in addition to BitCNY. For example, Eos and Qtum are two fashion pairs that are rising in popularity and as of being offered by BigOne they were not offered by other houses.
Invest in the world’s leading social trading platform
On the other hand, there are also a large number of cryptocurrencies that do not have much value or are not very popular but that are included in this crypto broker.
This is in contrast to the only three assets that can be traded on bitFlyer , the cryptocurrency market leader. BigOne is more in line with the competition like Binance , for example.
BigOne has 113 markets and 82 currencies, a number that will surely have gone up by the time you have read this review, as new markets and assets are added every month.
Open account with BigOne
Opening an account follows the typical process of other cryptocurrency exchange houses. That is, we must enter our data and later send digital copies of our identification and proof of residence documents.
The platform is supported by TradingView software , the most popular of the cryptocurrency markets.
As for the platform we can see it without problems on the web for free and it shows us the depth of the market as well as the spreads available at all times for the different pairs.
It must also be said that it is a house in which there is no margin trading , but trading on margin is not the most recommended thing to do in the financial markets.
One of the advantages of trading with BigOne, and which is the cause that has probably had a lot to do with its initial success, is the fact that it has quite cheap commissions compared to the competition.
The standard trading commission will be 0.1%, down 0.2, which can be found in most houses. This is a substantial difference.
The withdrawal will be charged depending on the asset:
- Bitcoin: 0.002 BTC
- Ethereum: 0.01 ETH
- EOS: 0.01 ETH
- Litecoin: 0.01 LTC
This is a house that we are not going to find too many opinions on the network, at least until 2018, given that at that time it had been on the market for very little time. Now, the fact of having so many customers should cause us to see many opinions about it in a short time. In fact, we can already see several on Reddit , but most are in English. I am sure that on Chinese websites there will be much more but that is beyond our reach.
One of the most numerous complaints that we have seen about this house today is the fact that the verification process takes a long time, which can denote scarce personnel or communication problems in the company. In this sense, it would help to have more contact channels and not just the message through your website.
Undoubtedly, BigOne’s biggest advantage is that it has quite low trading and deposit fees, without a doubt its strong point.
Another point in favor is the possibility of being able to trade in pairs that are only available on this platform.
However, I am afraid that there are quite a few things that are quite doubtful and not very favorable for this house.
For example, the fact that it does not expose its origin or company location raises some suspicions, regardless of how popular the platform may be. We can’t even find this on Google.
Withdrawal fees are quite high, especially if the crypto price goes up. For example, with 0.002 Bitcoins we would be paying $ 13 for a price of 6,600, and much more if the price rose to 20,000.
Another but is that we cannot deposit in typical FIAT currencies such as the euro, dollar or pound, which greatly limits our ability to open an account here.
It is surprising that this platform slipped into the first positions of the world ranking with such limited data, but once again, the few trading commissions and the possible good marketing effort in the Chinese and Asian market will have made this service stand out. to those positions.
In my opinion, we will have to wait up to a year or two to see if it improves and we can verify with which company we are negotiating. Also in those moments we will see if it is a house that has many problems in the market or not.
Let’s hope that in a while it can be a transparent exchange house and that it even keeps or has improved its trading commissions, which are very good.
For more information visit the website .