Overview of the Pionex Exchange (2024)

Pionex trading platform offers free access to trading bots as well as a variety of other benefits such as low trading costs, high liquidity, and support for over 250 currencies. In the event seeking to automate trading, it is an excellent choice for both beginner and experienced users. So, exactly what is Pionex? Is it reliable? Follow Betomon to learn more about the Pionex exchange in this article. 

What is Pionex?

Founded in 2019, Pionex has become a worldwide cryptocurrency exchange that handles more than half a billion dollars in daily trading volume. In addition to having money services company licenses in a majority of US states and a virtual asset service provider license in Ireland, the centralized cryptocurrency exchange is registered in the British Virgin Islands.

Pionex has been steadily expanding over the years, with over a million registered users around the world. It employs popular exchanges like Binance for liquidity but offers comparatively lower fees. It is especially well-known for providing an automated cryptocurrency trading environment with a large number of AI trading bots. Users may implement different strategies without constantly monitoring markets due to 16 free built-in Pionex trading bots.

Through its Wealth Management services and institutional-level Structured Products, the platform also provides high-yield strategies and consistent returns. In addition, we discovered that Pionex has established a $10 million Brave Fund to promote Web3 and cryptocurrency adoption by focusing on education, courses, and trading bots.

Key Insights:

• Pionex is a great exchange for free automated crypto trading bots with many trading strategies.
• It offers the best prices and liquidity from other top exchanges like Binance and Huobi, helping you to trade with low slippage.
• The exchange is best for crypto-to-crypto trading as it does not support many fiat deposit channels.

Pionex Overview

Pionex Pros & Cons

Advantages of Pionex

• Supports an user-friendly interface for beginners
• Provides automated crypto trading bots with user-pre-defined strategies
• Supports a wide range of cryptocurrencies
• Charges very low trading fees
• Supports both Android and iOS mobile app

Disadvantages of Pionex

• Supports limited fiat currency
• Does not support advanced trading features like lending and margin trading

Pionex Review: Key Features

1. Trading bots

Pionex offers 16 different types of automated trading bots that are free to use, assisting you in trading automatically and profiting from market movements.

Many bots such as grid trading, DCA, rebalancing, and arbitrage,… are available for your selection. You may quickly customize and manage your bots using a web browser or mobile app. Additionally, you can modify the parameters depending on your objectives and strategies.

2. Spot and Futures Trading

You can choose between two trading options with Pionex: spot and futures. Spot trading refers to the act of buying or selling coins at the current market value. Spot trading allows you to swap a coin for another as well as purchase and sell coins using stablecoins or fiat money.

Futures trading is a method of purchasing or selling contracts representing the future price of cryptocurrency. With futures trading, you can multiply your positions or place bets on price changes.

With up to 100x leverage, Pionex provides quarterly and perpetual futures contracts for a variety of currencies.

3. Staking

Staking Feature On Pionex

Pionex provides USDT and ETH staking services. Staking Ethereum on Pionex allows you to profit from the Lido/Curve platform, a decentralized approach to stake Ethereum 2.0 liquid coins.
Additionally, you may use the Compound platform to gain money by staking USDT on Pionex. It is a decentralized system for borrowing and lending.

4. PionexGPT

You may use AI to develop your own trading strategy using PionexGPT. It is currently using GPT-3.5, one of the most sophisticated natural language processing models, to generate Pine Script code based on your strategy description.

Additionally, you may share your trading techniques with others or replicate other traders’ strategies from the GPT marketplace. You may quickly and simply automate your TradingView strategy on Pionex with the Signal Bot in PionexGPT.

5. Structured Loan

Pionex Structure Loan Feature

Through this service, you may borrow coins from Pionex at a low interest rate. Pionex Loan may be utilized to reduce your risk, diversify your investments, and enhance your purchasing power.
With various loan terms and interest rates, you may borrow up to 60% of the value of your collateral. You can also repay your loan at any time with no penalty

Pionex Trading Bots Review

The 16 built-in trading bots available in Pionex are:

• Grid Trading Bot
• DCA Bot
• Rebalancing Bot
• Arbitrage Bot
• Leveraged Grid Bot
• Smart Trade Bot
• Leveraged Reverse Grid Bot
• Margin Grid Bot
• Infinity Grid Bot
• TWAP Bot
• Trailing sell Bot
• Spot Futures Arbitrage Bot
• Reverse Grid Bot
• Trailing Buy Bot
• Bitcoin and Ethereum Moon Bot
• Signal Bot

Let’s focus on the most popular ones in more detail.

1. Grid Trading Bot

You may profit from price fluctuations within your specified price range by using the Pionex grid trading bot. The range is divided into grids, with buy and sell orders placed at each grid level.

It processes the orders and benefits from the difference in price as it rises and falls. This bot allows you to adjust the grid number, range, and profit ratio for both stable and violent markets.

2. DCA Bot

You may cut costs and generate a profit at the same time with the help of the Dollar Cost Averaging Bot. You can set up the purchase and sell triggers and use this bot for coins that you are confident in.

When the price falls below a predetermined percentage, it purchases more coins and when the price rises above a predetermined percentage over your average cost, it sells all of the coins.

3. Rebalancing Bot

Your own index may be created and routinely rebalanced with the assistance of this trading bot. It allocates your funds across several cryptocurrencies based on your selections and modifies them based on thresholds or fixed intervals.

This bot lets you spread your portfolio, monitor market performance, and set the frequency and deviation of the rebalance.

4. Arbitrage Bot

The arbitrage bot enables you to profit from the price differences between the two cryptocurrency exchanges. In general, this bot will purchase a coin at a cheaper price on one exchange and sell it at a higher one on another.

The bot profits based on the imbalance in prices. You may use this bot to earn money in a secure and reliable way, you can also decide which exchanges, coins, and how much to invest.

5. Leveraged Grid Bot

Leverage in a grid trading strategy helps you increase your profits. It borrows money from the exchange to place further buy and sell orders within your specified price range.

It executes the orders and earns from the difference, multiplied by the leverage ratio when the price changes. This bot allows you to modify the grid number, range, profit ratio, and leverage ratio in volatile markets with clear trends.

6. Smart Trade Bot

You may establish multiple criteria for a single deal with this bot. It enables you to specify your order’s take profit, stop loss, and trailing stop.

In every market, you have the ability to control your profits and risks by setting the order size, side, coin, stop loss, take profit, and trailing stop.

Pionex Review: Fees

• Pionex Trading Fees

A fixed fee of 0.05% is applied by Pionex on each spot market trade for both makers and takers. In comparison to other exchanges, whose fees typically range from 0.1% to 0.5%, this one is quite low.

Depending on your trading volume, being a VIP member also entitles you to a reduced fee. Additionally, It charges a 0.1% leveraged trading fee.

• Pionex Deposit Fees

When you deposit cryptocurrency into this exchange, Pionex does not charge any fees. However, depending on the blockchain you’re using, you could have to pay network fees. Fees differ based on the coin and the network’s congestion. The minimum deposit amount on Pionex is 1 USDT, or 0.00005 BTC.

• Pionex Withdrawal Fees

When you withdraw cryptocurrency from your Pionex account, a predetermined fee will be charged. This includes the network’s related fees.

Depending on the particular currency and network you’re using, the fee amount varies. The full list of withdrawal fees is available in the fees section of Ponex.

For example, the withdrawal fee for Bitcoin is 0.0004 BTC (Bitcoin),  0.004 ETH (ERC-20) for Ethereum and USDT, it is either 10 USDT (ERC20) or 0.4 USDT (TRC20).

Pionex Security Review

Pionex provides many methods to safeguard your account. When creating an account, you have the option to authenticate using a mobile OTP or an email code.

To further increase security, there is a whitelist of withdrawal addresses and a personal password. Additionally, you may enable two-factor authentication (2FA) for greater security.

Pionex is regulated by both Singapore and the United States. These nations are popular with their strict regulations for cryptocurrency trading. It is authorized under the MSB (Money Services Business) license. With this license, Pionex is guaranteed to abide by laws about consumer identification and money laundering (KYC).

Pionex Customer Support Review

You can receive immediate assistance and solutions by having a real-time chat with a support team. Additionally, Pionex offers a support section with announcements, FAQs, tutorials, guides, and articles. You may look up a topic you need assistance with or submit a support ticket.

You can send an email to “service@pionex.com” with a detailed explanation of the issue, along with any necessary screenshots or documentation.

How can I use Pionex and its trading bots?

Step 1: Create a Pionex account. To register, enter your phone number or email address, you may then use a selfie and a picture ID to verify your identity. Additionally, you can get benefits by using a referral code.

Step 2: Add some cryptocurrency to your Pionex wallet. Pionex supports more than 379 cryptocurrencies, which you may select and send to your Pionex wallet account. Stablecoins or fiat money can also be used to purchase cryptocurrency on Pionex.

Step 3: Select a trading bot based on your requirements. As we previously discussed, Pionex offers 16 cryptocurrency trading bots, each with unique features and benefits. You can visit the website or help center to find out more about each bot.

Step 4: Use your preferred settings to create a trading bot such as a coin, a trading pair, a budget, and other settings. To determine the ideal settings, you may also make use of the AI function. Your bot will immediately start trading as soon as you create it.

Step 5: Observe and manage your trading bot. You may monitor your trading bot’s performance, earnings, and status via the app or website. It is also possible to modify, stop or pause your trading bot at any time. Additionally, you may link your TradingView signals to Pionex by using the signal bot function.

In conclusion: Is Pionex Safe?

Pionex is a reliable cryptocurrency trading platform, as this review has shown. Whether you are an experienced trader or a newcomer, you may discover a trading bot that suits your requirements and preferences.

Many bots are supported, including those for arbitrage, DCA, rebalancing, and Grid. Pionex also offers excellent customer service, strong security, and low fees.

Assume you’re searching for a cryptocurrency exchange that offers the best combination of manual and automatic trading. Pionex is the best option for you in that situation.

Pionex Review: FAQs

• Is Pionex Legit and Secure to Use?

Yes, Pionex is a legitimate exchange that holds licenses from US and Singaporean authorities. It also boasts a high level of security because it stores the majority of user assets in offline wallets and provides a backup fund to cover any losses. Additionally, Pionex has successfully completed a security audit conducted by Knownsec, a reputable cybersecurity company.

• Is Pionex available in the US?

Pionex has been granted an MSB (Money Services Business) license from FinCEN (Financial Crimes Enforcement Network), enabling it to legally operate in the US market.

However, because of US regulations, the Pionex US version does not provide margin or leveraged trading bots.

• Are Pionex Trading Bots Profitable?

The profitability of the bots is determined by a variety of factors, including how you set up the bot, the trading pair you select, and the level of risk you are willing to accept.

Therefore, there is no profit % guarantee with Pionex bots. However, you may reduce the possibility of losing money and raise your chances of making a profit by employing the most effective strategies.

• Are Pionex Trading bots free to Use?

Yes, Pionex trading bots are free to use. There are no additional costs or subscriptions required in order to utilize the bots. Yet, there is just one fee you need to pay is the trading fee, which is 0.05% per transaction.

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