In the earlier article, Betomon imparted basic information about Bingx exchange. Presently, we will provide instructions on how to register a Bingx account and how to effectively use it.
Prepare before signing up for BingX
To expedite the registration process, kindly read through the following list and make a few preparations beforehand:
- Email address
- ID card photo includes 1 front photo, 1 back photo, and 1 selfie photo with the front (I will guide you on details later). Either your driver’s license or ID card is accepted.
- Authy or Google Authenticator application pre-installed on the phone, depending on your needs.
Step 1: Register a trading account on BingX
Follow this link to sign up for Big: https://bingx.com/
Then enter Email (or phone number) & Password then click Next.
The code will be sent to the mentioned above email address by the system. Please enter the code in the box and select Register.
Step 2: Verify identity – KYC
To begin with, you must understand what KYC is. KYC, or “Know Your Customer,” is the procedure used to gather identifying data about users of a particular service. The typical information that is regularly gathered includes address, passport, ID number, and portrait photo,…
The KYC procedure aims to prevent inappropriate users from accessing a service. These requirements might vary depending on the particular unit.
To verify your account on BingX, take these steps:
Move your cursor over the personal icon as shown below from the BingX homepage interface.
Then select Identity Verification.
Make your selections for the documents you want to validate then choose Next.
After selecting, you upload the required photos of the front and back documents into the corresponding boxes, click Next.
Click I’m Ready to snap a selfie after that.
Check the information again, then press Next.
The finished interface is shown below, you just need to wait for the results.
Step 3: Enable 2FA security
You can strengthen the security of your exchange account by taking this step. It is always advisable that you activate 2FA.
Go back to the homepage and, like with KYC, point the mouse at the personal icon but this time you choose Account and Security.
After that, by scrolling down, you click on the link in the Google Verification section.
Click Next after downloading Google Authentication if you don’t already have it on your device. You can still utilize Authy in place of Google Authentication!
Scan the QR code or enter this key line into Google Authenticator.
To obtain the code on your phone, click Send. Then, enter it in the box next to it and the Google Google Verification Code in the box below. Finally, select Submit to finish.
Instructions for depositing, withdrawing money, and trading on BingX
Depositing
From the homepage, select Asset and click Deposit.
Check the box to accept the terms, then Confirm.
It’s up to you to select the asset you are interested in depositing, the account, the network (different networks support different assets), and copy the address to deposit.
Withdrawing
The process for making a withdrawal is almost comparable to a deposit. However, you select “Withdraw” rather than “Deposit”.
You choose the asset you would like to withdraw, the network, and fill in the boxes below with the withdrawal address, quantity, and notes (optional), and then click Submit.
Note: The transaction fee and the actual amount received later are displayed clearly above the Submit button. Please be cautious to transfer correctly.
Coin trading
On the main page, point to Market, then select Spot Market to engage in Spot trading.
This is the interface for Spot Market.
[1] A place to choose assets.
[2] A place to choose to buy or sell.
[3] A place to choose Market or Limit orders.
[4] A Place to enter the buy/sell amount.
[5] You can adjust here instead of manually entering the above amount.
Other trading instructions on BingX
Standard Contract
Here, you can engage in derivative transactions with regular leverage
To trade, click Standard Contract on the home page.
The information from the order placement screen is displayed below:
[1] Choose assets.
[2] Choose an account.
[3] Choose long/short.
[4] Choose Trigger (limit) or Market order.
[5] Enter the order amount.
[6] Customize here instead of manually entering the above amount.
[7] Choose leverage.
[8] Set profit take point (turn the button to the right to set).
[9] Set the stop loss (turn the button to the right to set).
Exchanging
You can use BingX’s Exchange feature to quickly convert assets to USDT without having to visit the platform.
Point your mouse in the direction of the Market from the main screen and choose Convert.
After opting for the asset and entering the desired USDT conversion amount, click Exchange.
Purchasing Crypto via Credit Card
Either click Buy Crypto on the home screen or choose Buy Crypto by hovering over Market to purchase cryptocurrency with a credit card.
Select the asset you want to purchase, enter the purchase amount, and click “Buy Now.”
You can also choose to buy using cash or cryptocurrency.
Please review the information about the purchase quantity above. You can re-enter it if it is not correct. After choosing the appropriate payment option from the list below, click Buy.
If you agree, check the box and select Confirm.
Finally, you complete the information depending on the payment method and finish
Copy Trading
Form the homepage, select Copy Trade.
You can use the search box above to look for a specific name or select the person whose command you want to copy below. Besides, you can view your complete copy trade information by visiting the Copy Trading button next to it.
After choosing the appropriate person, enter and select Copy Trade. Next, you choose the asset you want to copy, the amount to copy each command (VST is the simulated money that BingX will give you to experience, and has no real value). Click Deposit here if you want to deposit more money into your account
Additionally, you can click Advanced Setting to adjust your setup carefully, which is modifiable:
- Daily Copy Trading Amount: Set a daily transaction limit. Copying will be discontinued once the total value of all copy orders exceeds this threshold.
- Max. Open Position Principal: Trades will stop being executed once the original position of the copying party reaches this value.
- Stop Loss Ratio: The Stop/loss for copied orders will be set here.
Once the parameters have been set, scroll down and click Copy Now.
Arbitrage Bot
Alongside being renamed to BingX, the project introduced the Arbitrage Bot assisting users in making money by automatically buying low prices and selling high prices. Usage is as follows:
Select Spot from the main screen.
Choose Arbitrage bot.
Selecting whether to create a strategy automatically (Auto) or manually (Manual), press Create
Click Arbitrage Bot below to follow after creating.
Conclusion
Trading on BingX is a fairly easy process, Its current success can be attributed in large part to the advantages it provides for users. Therefore, in my opinion, BingX could be recognized as the greatest CFD exchange at present.
