BigONE Review
A lot of people (investors, financial analysts, spectators) continue to talk about the surge the cryptocurrency market experienced these last few months. And these developments have proven so many critics wrong who claimed the cryptocurrency market is a bubble waiting to explode.
It has now become apparent that cryptocurrencies and the cryptocurrency market, in general, are here to stay. In fact, cryptocurrencies have now greatly reshaped how we carry out businesses and pay for various goods and services. Aside from cryptocurrencies being used as a means of exchange, many investors and traders now look to trade various digital coins in the cryptocurrency market to make great returns.
Today, traders and investors now believe that the greatest of opportunities can be found in the crypto market. And because of this, digital coins are now more generally accepted as a means of exchange, and more cryptocurrencies are being traded in the financial market.
The cryptocurrency market is a big part of the financial market that specializes in the buying and selling of various digital coins and for investors and traders who want to have access to this market, they must register with a crypto exchange platform. Crypto exchange platforms are gateways into the cryptocurrency world as without their involvement, no trader will be able to have access to the crypto market.
Crypto exchange platforms do play a big role in the cryptocurrency market as they provide the necessary access, support, information, and trading tools needed by investors and traders (irrespective of their trading experience,) to be successful in the crypto market. For these reasons, investors need to choose an exchange platform that they deem best to cater to their trading needs.
Since traders differ from one another, it is expected that their trading needs also differ and because of this, different traders use different parameters to determine if an exchange platform is best for them. However, irrespective of the differences in parameters used by investors, some basic primary features should not be overlooked when choosing an exchange platform.
Choosing an exchange is not something simple at least not anymore. The cryptocurrency market is highly saturated with crypto exchanges such that a single google search will bring numerous options to your screen. And it will be a bad idea to just choose a random exchange platform that appears on your screen as the crypto market has been overrun by scam exchanges and mediocre ones who disguise as legitimate ones looking for naive investors to rip off.
So it is important that investors carry out proper research into the primary features of an exchange platform to know if it is legitimate or not. Considering the number of exchange platforms that need to be studied and evaluated before coming to a conscious decision, carrying out these researches can become overwhelming. For this reason, we’ve decided to give a helping hand and help you out with this research.
We’ll be making several reviews of decent crypto exchange platforms you can find in the crypto market. And a great example is the BigONE exchange platform. This is the BigONE review. We will be explaining in detail the entire operations, benefits, and features offered by the BigONE exchange platform.
| Exchange Platform | BigONE |
| Website | https://Bigone.com |
| Withdrawal Fee | 0.0005 BTC |
| Payment method | On THe Counter trading |
| Trading platform | Mobile App, and Web-based platform |
| Trading Fee | 0.20% |
| Trading assets | Bitcoin, Monero, Ethereum, Litecoin, Ripple and lots more |
| Security | Multiple Signature Cold Wallet, Know Your Customer (KYC), and Two-Factor Authentication (2FA). |
The BigONE exchange platform is a crypto-to-crypto exchange platform that was founded in 2017, having been registered in Singapore. Ever since BigONE was established, the exchange platform has its headquarters situated in China where it runs and manages its business and operations to serve its clients all over the world.
The BigONE exchange platform was established by a team of professional experts who has in-depth knowledge in the management of crypto trading platforms and profound expertise in getting various digital assets. Furthermore, the exchange platform is also supported by INBlockchain; a blockchain investment company
BigONE is known to operate by four primary principles; Professionalism, Integrity, Win-Win, and Security. And by following these principles, BigONE offers one of the best crypto services in the crypto market, giving its clients the necessary support and tools to excel in the crypto market.
The BigONE exchange platform has a long list of cryptocurrencies asides from Bitcoin and Ethereum. So if what you’re looking for are cryptocurrencies more exotic than Ethereum and Bitcoin, you’re sure to find it with BigONE
Registering with BigONE
The registration process is quite simple and straightforward. To begin, a visit to the BigONE website is the first step required, then a click on the registration button will get the whole process started. A registration page will be displayed once you click on the registration button. Here you will need to fill out a form, inputting your email address, phone number, name, and so on.
Once the verification process has been completed, you can then sign in with your passband email address. Then an authentication code will be sent to your mobile device which you must enter to validate your login. You should note that the verification process (Know-Your-Customer (KYC) policy) does take some time (hours to days) to be completed hence the need to be patient.
BigONE does recommend that no deposit should be made into the trading before the verification process is completed. However, after the verification process has been completed, traders can carry out various trading activities of their choice on the BigONE exchange platform.
Now let’s have a look at the primary features offered by the BigONE exchange platform
Security Protocol
Cyberattacks, hacks, and fraudulent activities have become a menace in the cryptocurrency world. As a result of this, investors are now very security conscious and unwilling to compromise their security for anything else. Investors now look to choose a crypto exchange platform that can adequately guarantee and provide the necessary security measures to safeguard their investments and personal sensitive information.
The BigONE exchange platform is recognized by many investors as a crypto exchange platform that prioritizes its security above anything else. In fact, one of the greatest motivations that pushed the founder and the team behind BigONE is to establish an exchange platform that can adequately protect investors from the security breaches that are widespread in the crypto market.
To provide one of the best security measures in the cryptocurrency market BigONE has put in place several security protocols and technology such as Multiple Signature Cold Wallet, Know Your Customer (KYC), and Two-Factor Authentication (2FA).
- Multiple Signature Cold Wallet
The BigONE exchange platform uses both cold and hot wallets to secure and store the digital assets of its clients. A rough estimate of about 98% of the total digital assets entrusted with BigONE is kept secured in cold wallets located at various offline locations. However, 2% of the digital assets left are made available in hot wallets for investors to use in running various daily trading activities.
To further ensure that the cold wallets are safe and adequately secured, the BigONE exchange platform only gives authorization to designated top officials to have manual access to the cold wallets after all necessary protocols have been followed and met.
- Know Your Customer Policy
The BigONE exchange platform is in compliance with the Know Your Customer (KYC) policy to prevent and curb cases of identity theft and terrorist funding. The KYC policy ensures that every trading account is traceable to a real individual in any part of the world.
The KYC policy mandates that all exchange platforms in compliance with the policy obtain various information about the identity of their clients. Hence, BigONE asks all its clients to provide valid information regarding their identity. Client’s are then expected to submit contact information, proof of ID, and a valid photo during the registration process.
- Two-Factor Authentication (2FA)
The BigONE exchange platform integrates the Two-Factor Authentication (2FA) on its security system to make sure that sensitive trading activities such as logins, withdrawals, and change of passwords are well secured. The 2FA prevents third-party access to clients’ trading accounts without the approval of the account holder.
Trading Platform
The trading platform made available by an exchange platform is one of the crucial features to consider before choosing such an exchange platform. Crucial in the sense that the trading platform essentially governs and oversees all the trading activity to be carried out by an investor. Hence, if a trader is to have an incredible trading experience, the trading platform offered must be of top-quality.
The trading platform used by various exchange platforms differs from one another in terms of customization, user-interface ease of navigation, and design. This is because exchange platforms use different metrics in developing their trading platforms. However, irrespective of the differences, a decent trading platform is expected to be user-friendly, very easy to navigate, and integrated with basic trading tools.
The BigONE exchange platform offers a very decent trading platform to its clients. And just like every other crypto trading platform, the trading view of the web-based platform consists of an order book (at least part of it), buy and sell-boxes, order history, and price chart of various digital coins. The trading platform is simple to use, user-friendly, and highly efficient in trade analysis.
The BigONE exchange platform further offers a mobile app for its clients who prefer to monitor their trades via mobile devices and also loves the idea of on-the-go trading. The mobile is available for download and installation on both Android OS and iOS.
Commissions and Fees
For exchange platforms to be able to finance their overall operations and make profits in the crypto market, they charge investors various fees and commissions on trading activities performed. As you may expect, the commissions and fees charged differ from one exchange platform to the next, and as a result, investors look to sign up with an exchange platform that charges low commissions.
In the cryptocurrency market, commissions and fees charged are usually on withdrawal/deposits and trade executions. This can either be in percentage or at a fixed rate depending on the exchange platform in question. The commissions and fees charged by the BigONE exchange platform are quiet in the middle and can be afforded by most investors.
- Trading Fees
Exchange platforms charge a trading fee on every trade executed by an investor. Most of the time, the trading fee charged is a specific percentage of the entire order value. For most exchanges, the trading fee is categorized into makers and takers fees. Takers are persons that take an order from the order book. However, Makers are persons that add orders to the order books.
The BigONE exchange platform charges a flat rate on its trading fees. This implies that both takers and makers pay the same fee; 0.20%. These trading fees are regular with the industry’s average of 0.20% – 0.25%. However, in the case of contract trading, the exchange platform charges separately for makers and takers. Makers get to enjoy some discounts and get to be 0.02% while takers are offered no discount seeing them pay 0.06%. These fees are also regular with the industry’s average or maybe even slightly lower.
That’s not all as BigONE still gives discounts on trading fees to all its clients, depending on the membership level they are on. Basically, there are 5 membership levels; Bronze (every trader register with BigONE starts from this level), Platinum, Silver, Challenger, and Diamond. Client’s get to pay lower fees as they climb up these levels. To get to a higher level, clients have to earn what is called the “Privilege Points”. To then earn these privilege points, clients must make referrals into the BigONE community and trade in high volumes.
- Withdrawal Fees
Just like trading fees, exchange platforms charge withdrawal fees on every cryptocurrency withdrawn.
BigONE charges a withdrawal fee of 0.0005BTC on every BTC withdrawal. Considering the industry’s average, the withdrawal fee charged by BigONE falls in line and in fact a little bit lower than the industry’s average which is roughly estimated as 0.0006BTC.
However, many exchange platforms are beginning to charge a withdrawal fee of 0.0005 BTC so it wouldn’t be out of place to say 0.0005 is the average within the cryptocurrency industry.
BigONE Token
Similar to the modern exchange platforms we have today the BigONE exchange platform created its digital coin known as the BigONE token which is established on the Ethereum blockchain.
At the time of this review, 25th of February 2021, the BigONE Token currently sells at a market price of $0.00488 having a market rank of 435. The BigONE token has a market cap of about $45 million and has reached an all-time high of $.53. The BigONE token is listed on various exchange platforms and is well available to be traded by various investors.
Withdrawals and Deposits
To begin trading, investors are required to deposit an initial capital investment into their trading account. This initial capital gives investors the purchasing power needed to buy and trade various digital coins in the cryptocurrency market. Without this capital, investors have no way of trading in the market to earn returns.
On the other hand, since the primary focus of investing in the crypto market is to make huge returns, investors give more concerns to withdrawals and need to be assured that their profits can be withdrawn with ease.
The BigONE exchange platform ensures that both the process of withdrawals and deposits are simple and straightforward. The exchange platform offers On The Counter (OTC) trading to its clients to withdraw and deposit their funds. BigONE uses On The Counter Trading (OTC) which allows clients to purchase cryptocurrency from one another using Wechat Pay and Alipay.
Customer Support
One of the ways to identify a good exchange platform is to evaluate the customer support its offers. Exchange platforms are well aware that traders need all the available assistance they can get in the cryptocurrency market. So an exchange platform not providing the necessary support needed by its clients indicates poor customer orientation.
The BigONE exchange platform makes available an online help center to offer support to its clients whenever needed. Requests and complaints can also be forward to the support email that is provided on their websites.
Final Thoughts
Looking at the incredible features and benefits offered by the BigONE exchange platform, it is safe to say that it is one of the top exchanges in the crypto market. Its latest and standard security measures, incredible trading platform, and fees give it a competitive advantage over other exchanges in the crypto market.
With all that being said, it remains your decision to determine if the exchange platform suits your trading style or not. Although if you think you need more information about the exchange platform, you can always visit its website to check for yourself its incredible features and services.
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