Last update: Apr 15, 2022

Bexplus Review

When you enter the exciting world of cryptocurrency, you want to find a trustworthy trading platform that makes managing your finances simple and easy. As such, the cryptocurrency specialists at Smart Billions constructed a thorough Bexplus review to see if the cryptocurrency exchange platform is right for you.

  • Bexplus


    1. Operating Since 2017
    2. Currencies Supported 5 cryptocurrencies
    3. Fees Varies
    4. Deposit Methods Cryptocurrencies
    5. Fiat Currencies No
    6. Verification Methods 2FA
    7. Margin Trading Yes
    8. Futures Trading Yes

Smart Billions is an online workshop that teaches you everything you need to know about cryptocurrency. We form a team of blockchain enthusiasts and entrepreneurs that specialize in teaching people how to get the most out of their cryptocurrency investments. We guide you through the ever-changing crypto market, explain the differences between cryptocurrencies, review trading platforms, and more.

Continue reading to learn more about Bexplus and see if it lives up to the hype.

What Is Bexplus?

Bexplus, an up-and-coming crypto exchange platform, offers profitable interest rates and leveraged borrowing to users. It’s a global service based in the Grenadines and Saint Vincent with offices in the United States, Japan, Brazil, and Singapore. Bexplus is available in 15 languages, including Japanese, Turkish, Polish, English, and Portuguese.

The innovative trading platform allows users to create an account without an ID and permits them to trade several futures contracts with a margin of up to 100:1 times. Some of the futures contracts include:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Dogecoin (DOGE)
  • Cardano (ADA)
  • Ripple (XRP)

Bexplus provides numerous benefits for crypto traders of all experience levels. Its fantastic leverage and detailed yet easily digestible trading features make the platform ideal for both novice and experienced cryptocurrency investors.

About Bexplus

Bexplus’s background is a bit hazy. As little to no information about the company and its founders exists online, it causes hesitation among many potential users. The creators decided to conceal their identities, raising suspicion even further.

However, the trading platform claims that a group of experienced blockchain architects, financial experts, and internet professionals created the company in 2017. It works under a Saint Vincent and the Grenadines Financial Services Authority, which doesn’t monitor Bexplus’s financial proceedings. However, the United States registered Bexplus as a money service business (MSB) in 2021.

It’s important to note that several businesses turn to Saint Vincent and the Grenadines to avoid taxes, legal cases, and regulation. The money service business registration doesn’t require U.S. authorities to regulate Bexplus since it comprises a fundamental operations necessity. Although Bexplus advertises as a high liquidity cryptocurrency exchange, it hasn’t provided information about its monthly trading volume.

Most experts advise against trading cryptocurrencies on an unregulated platform with unverified owners. This risky strategy could take a toll on your finances. You want to keep this in mind before committing to Bexplus’s services.

Supported Cryptocurrencies

As stated before, Bexplus allows users to trade five of the leading cryptocurrencies: Bitcoin, Dogecoin, Ethereum, Cardano, and Ripple. However, the platform doesn’t support LTC, EOS, or NEO. Bexplus bases all the offered trading pairs on USDT but doesn’t allow users to trade between other cryptocurrencies.

Although Bexplus’s limited number of cryptocurrencies might benefit novice traders, it can disappoint advanced or experienced users looking to trade lesser-known altcoins. Nevertheless, Bexplus’s less crowded market and user-friendly interface make it more ideal for newcomers.

Bexplus Fees

Bexplus differs from most other cryptocurrency trading platforms by charging a flat rate for every crypto pair instead of differentiating between taker orders and makers. It makes trading easier to keep up with and more approachable for novice users.

Let’s look at Bexplus’s trading fees for each crypto pair.

  • Bitcoin (BTC)/USDT: 0.075%
  • Ethereum (ETH)/USDT: 0.151%
  • Dogecoin (DOGE)/USDT: 0.195%
  • Cardano (ADA)/USDT: 0.151%
  • Ripple (XRP)/USDT: 0.195%

When trading, it’s important to remember that Bexplus calculates the profit, loss, and margin using bitcoin regardless of the cryptocurrency you trade. Bexplus also pays traders in bitcoin only. If you profit using Ethereum, you will receive Bitcoin as payment.

Overnight Fees

Bexplus offers 100x leverage trading on cryptocurrency pairs while charging you for using the service. You must pay 0.1% of the total contract value to keep an open position after GMT 0:00.

Withdrawal and Deposit Fees

Although Bexplus doesn’t charge users a deposit fee, it does require a withdrawal fee if you remove cryptocurrency from the program. Bexplus’s withdrawal fees include:

  • Bitcoin: 0.0005 BTC
  • Ethereum: 0.004 ETH
  • Ripple: 0.01 XPR

Bexplus currently doesn’t list withdrawal fees for Dogecoin or Cardano on its website.

Withdrawal and Trading Limits

Bexplus doesn’t have a minimum deposit limit for users at this time. However, it does have a few fixed maximum and minimum trading limitations. Let’s review the platform’s minimum trading limits.

  • BTC/USDT: 0.1 BTC
  • ETH/USDT: 1 ETH
  • DOGE/USDT: 10,000 DOGE
  • ADA/USDT: 1,000 ADA
  • XRP/USDT: 1,000 XRP

Bexplus’s max trading volume include:

  • Bitcoin: 200 BTC
  • Ethereum: 4,000 ETC
  • Dogecoin: 5,000,000 DOGE
  • Cardano: 2,000,000 ADA
  • Ripple: 2,000,000 XRP

The platform doesn’t list its withdrawal limits. It’s best to reach out to Bexplus’s customer service branch for more information before depositing cryptocurrencies on the exchange platform.

Trading Features

Bexplus allows you to borrow up to 100 times more than your initial investment. It also gives you access to perpetual contracts that don’t expire at a specific time. The perpetual contracts allow you to maintain a position as long as you desire, furthering your trading experience.

However, Bexplus does charge you a 0.1% daily fee if you decide to hold an open position.

Bexplus also has a forced liquidation process that you must keep in mind while using the platform. Once your account margin rate equals 30% or lower, Bexplus liquidates your positions. It also closes your positions if your profits, including your position bonuses, reach 85% of the account’s net value.

It’s crucial to keep an eye on your margin rate since Bexplus isn’t required to notify you if it plans to close your positions.

The crypto trading platform provides you with a Bitcoin interest wallet if you remain active. The annual interest rates fluctuate from 3% to 21%, depending on how much Bitcoin you deposit. If you do not know if your account qualifies, contact Bexplus’s support service via email to verify your account status.

Bexplus also provides you with a 100% deposit bonus that you can’t withdraw. The platform only enables you to use the bonus to boost your account’s net worth, increasing your borrowing amount. However, you will lose your deposit bonus if your account’s net worth falls under a specific amount.

You must contact Bexplus’s customer support branch and follow the platform’s Twitter page to receive your bonus.

Demo Account

One of Bexplus’s best aspects stems from how accessible and user-friendly it is to novice crypto traders. It offers newcomers a demo account with ten Bitcoin to get them started on the platform. The demo account lets new users learn various crypto trading strategies and grow confident with their investments before adding additional assets.

Bexplus Security

To ensure its users’ assets remain safe and secure, Bexplus uses a two-factor authentication method while keeping user assets in multi-signature cold wallets. However, since Bexplus remains an anonymous, offshore company with few enforcement powers and regulations, it’s exceedingly hard to verify its legitimacy.

Some users believe Bexplus is illegitimate and alters reviews and photos to appear valid. The company hasn’t confirmed or denied these allegations, furthering many users’ concerns. Although you can find only a few verified Bexplus reviews available online, most of its mobile app reviews remain positive.

Customer Support

Since Bexplus features over ten language settings, traders worldwide can navigate the platform in their native language. It also has a customer service pop-up chat that you can use (regardless of your native language) 24 hours a day, seven days a week. The crypto exchange platform also hosts a FAQ page that answers the most common questions about cryptocurrency, trading, and more.

If the pop-up chat or FAQ page doesn’t answer your question, you can email their support team for additional assistance.

Bexplus also publishes numerous informative crypto trading articles on their blog page that will help you get the most out of your investments.

Pros and Cons of Bexplus

Like most cryptocurrency exchange platforms, Bexplus has its advantages and disadvantages. Consider some of Bexplus’s pros and cons.

Pros:

  • No identity verification
  • Fast account creation
  • Novice friendly
  • Simplistic TradingView charts and user interface
  • New-user welcome bonus
  • The interest rate wallet allows you to earn up to 21% annualized interest
  • 100x leverage
  • A mobile app available on both iOS and Android devices
  • Provides new users a demo account

Cons:

  • Unregulated crypto exchange platform with anonymous founders
  • Limited trading pairs
  • Restricts withdrawals and deposits to Bitcoin
  • High overnight and trading fees
  • Low minimum trading size
  • Lacking risk-management orders
  • Encourages over-trading with auto-take-profit

FAQs

Is there a Bexplus mobile app?

Yes. Bexplus offers a highly rated mobile app for both iOS and Android devices.

Is identity verification required to set up a Bexplus account?

No. Bexplus allows users to create a crypto trading account without verifying their ID. However, it does require you to enter an email address.

Is Bexplus a legitimate cryptocurrency exchange platform, or is it a scam?

Although the United States registered Bexplus as a money service business (MSB), it’s not regulated since it resides in the Grenadines and Saint Vincent, making it hard to verify its legitimacy. It’s best to conduct business with a regulated company than risk trusting an unregulated crypto platform.

A Brief Recap of Our Bexplus Review

Bexplus allows you to trade five crypto trading pairs with USDT while offering 100x leverage on futures trades and crypto margins. Unfortunately, its transaction fees are much higher than other cryptocurrency exchanges since it doesn’t utilize fee tiers for your monthly trade volumes.

Although Bexplus provides several helpful features for new crypto traders, the deposit bonuses and annual rewards associated with the Bitcoin interest wallet favor experienced users with high trading volumes. This might deter novice traders once they learn more about cryptocurrency trading.

Contact Smart Billions for All Your Cryptocurrency Needs

Smart Billions is your source for professional crypto advice and guidance services. We specialize in teaching novice and experienced traders the ins and out of the cryptocurrency market so your investments can reach their full potential. Our team has extensive experience with the leading cryptocurrencies and can help you with all your crypto needs.

Whether you want to read the latest Bexplus review or need advice on how to start trading a specific cryptocurrency, the Smart Billions team can help.

author Marco Vela

A crypto obssessed digital marketer passionate about making a difference in the world. When he's not behind the computer he can be found hiking, camping and relaxing with his dog.