Instructions for making money from the BingX exchange from A – Z (latest)

Instructions for making money from the BingX exchange from A – Z (latest)

When participating in the Crypto market, choosing a suitable exchange to facilitate the transaction process as well as optimize costs: transaction fees, overnight fees… is the most important step for every trader.

In the following article, I will introduce to you a CFD trading platform used by many traders in Vietnam because the features and benefits it brings are truly suitable for all traders from newbies to experienced traders. professional.

Find a mini-collection about the Bingbon platform with the following contents:

• Overview of Bingbon floor
• Instructions for registering an account on Bingbon
• Fee table and instructions for depositing/withdrawing money on Bingbon
• Instructions for trading on Bingbon floor
• Copy Trade on Bingbon
• Update feature: link and trade Bingbon on TradingView
• Update information and instructions for using professional contracts

Find out now with Coinvn98!

Register an account here BingX

For more information please visit: https://bingx.com/

What is Bingbon (BingX)?

BingX (Bingbon) is the largest CFD trading platform in Taiwan today, established in 2018 from a $10 million investment from Grand Shores technology company – a Hong Kong listed company. Bingbon has become one of the best copy trade trading platforms in the cryptocurrency market today.

Recently, on November 18, 2021, the Bingbon cryptocurrency trading platform announced that it will change its name to BingX.

With the name change to BingX, the company hopes to continue to speed up value transfer and enhance user experience through innovative trading solutions, allowing them to connect with elite traders and enjoy Use smarter investment strategies.

Besides, BingX will also soon launch new trading pairs, giving users more options to interact. Improvements to BingX’s copy trade feature are also being made, and a series of innovative new products are coming soon that promise to take users on an unforgettable exploration of the world of cryptocurrency.

How do CFD contracts on Bingbon work?

Contracts for difference are contracts between two parties (often simply called “buyers” and “sellers”) that agree on the price movement of an asset, and they are a form of derivatives trading.

Essentially, profits and losses in CFD trading will be calculated based on the price change between the opening and closing of the contract. That means that the broker (seller) calculates the difference based on the price when the contract begins and ends, and the profits and losses are all agreed upon between the broker and the user.

In addition, what makes CFD on Bingbon different from other products and become another CFD trading platform?

• High leverage: of course there are many trading methods but if you want to take advantage of market volatility then high leverage is the choice.
• Diversifying investment assets: In addition to Crypto, Bingbon provides diverse services from Forex, Commodity, Stock Index… which not all exchanges provide.
• Whether you increase the price or decrease the price, you can still make a profit, unlike normal trading, which is just buying at a low price and waiting for an opportunity to sell at a higher price to gain the difference in profit.
• And the important thing is transaction fees, among derivatives exchanges, Bingbon is the strongest competitor in terms of transaction fees.

Register an account here BingX

For more information please visit: https://bingx.com/

 

Why should you trade on Bingbon?

Advantage

Launched less than 4 years ago, but in Crypto, Bingbon is a strong growing name, time has gradually proven that serious competitors such as Snapex have recently announced their closure and Bingbon is still continuously open. wide.

• Easy to use: Bingbon’s interface can be said to be quite easy to operate. As for placing buy/sell orders and setting stop loss/take profit, Bingbon is really very simple. They are easy to operate and even those new to the market can use them proficiently, something that orderbook platforms have not been able to do.

With Bingbon, you can perform all operations before placing an order, all parameters are clear, and from there, even newcomers will not have any difficulties.

• Security: In its operating history, Bingbon has never been hacked or encountered any security errors.
• Multi-platform support: Bingbon fully supports both desktop and mobile platforms. You can trade anywhere with internet.
• High leverage: Bingbon allows users to use very high leverage with BTC pairs up to 150x, while in BitMEX it is 100x and Binance Future is 125x.

In addition, Bingbon has upgraded the leverage adjustment feature similar to Binance. Directly selecting leverage on the toolbar is extremely convenient for traders.

• Copy Trading: With the Copy Trade function, Bingbon helps users earn money when copying or turning on copying. Profits for many parties have therefore attracted many traders.
• Diverse trading pairs: Not only allowing trading of crypto pairs, Bingbon also allows trading of other fields such as: Forex, Commodity, Stock Index…
• Buy crypto: Allows buying, selling and converting coins directly via visa card, OTC through the extremely new “Buy crypto” feature that no other CFD floor has provided.

Defect

There is simply no perfect exchange. Although Bingbon is very complete, it still has its shortcomings:

• Crypto trading pairs are quite few, limited to the old top coin series. Even though they update new coins, they are still very few compared to other exchanges like FMX or Binance, FTX,…
• The market fluctuates strongly despite Bingbon’s best efforts, but the spread on Bingbon is still quite large, especially when using market orders.
  Instructions for registering a Bingbon account
  Register for a Bingbon account on the Web

You can register via the link here to support our team and can join the VIP trading signals group completely free of charge.

After clicking, the interface will appear as below:

Fill in information including phone number, enter password and follow Bingbon’s on-screen instructions.

After entering the code and completing registration, you can deposit money into the exchange and trade immediately.

Register on the Bingbon app version

Besides accessing the Desktop version, you can download the Bingbon app for more convenient use both on Android and IOS.

• iOS follow this link.
• Android app here.
  

For iOS, to install Bingbon you need to install the TestFlight application first. The link above will give you the path to install. Then you can install the Bingbon app as usual.

Register an account here BingX

Instructions for receiving $100 Bonus from Bingbon

After you download the App, log back into your account, so you can claim 100 USDT in the bonus section.

The reward will be divided into 5 Bonuses with a total reward of 100 USDT. If you use it properly, the amount of profit you can earn is also a decent amount.

About details:

You will not receive this money directly, but you will use this money to Trade and the profit from it will be transferred to your wallet. The Bonus amount will be lost after use.

• Bonus 1 (reward only using leverage up to x10): 5 USDT (Duration 2 days) is calculated from the time you successfully register.
• Bonus 2 (reward only using maximum leverage x1): 10 USDT (2-day period) is calculated from the 2nd day you successfully register.
• Bonus 3 (reward only using maximum leverage x1): 15 USDT (2-day period) is calculated from the 3rd day of successful registration.
• Bonus 4 (bonus only using leverage up to 100): 20 USDT (Duration 1 month) is calculated from the date you successfully register and must successfully trade at least 150000
• USDT.
• Bonus 5 (reward only using leverage up to 100): 50 USDT (Duration 1 month) is calculated from the date you successfully register and must successfully trade at least 300000
• USDT.
  KYC and enable 2FA

Of course, to protect your assets on the exchange you should conduct KYC and enable 2FA security layers.

Log in to the “Account” section and scroll down to “identity verification”,

What to prepare before authenticating your identity to avoid wasting a lot of time:

• Photo of the front of ID card
• Photo of the back of ID card
• Portrait photo + A4 sheet with Bingbon written on it and date of registration.

Next, turn on Google Authenticator and follow these steps:

Step 1: Go to “Account” => Scroll down and select “Account and security”

Step 2: Select “Google Verification” => “Link”

Step 3: Copy the code into your Google Authenticator app => Enter the code sent to your phone and the code in GA => Next step => Done

Bingbon trading fee table

Currently Bingbon supports deposits and withdrawals of the following asset types: BTC, ETH, USDC, USDT (ERC20, OMNI, TRC20).

• The margin transaction fee is 0.075% and the corresponding leverage levels will be multiplied accordingly. (Spot trading fee is 0.1% of total volume)
• The latest Bingbon withdrawal fees are as follows:
  

Buy coins directly from Bingbon

Bingbon is an exchange that continuously upgrades for better user experience. Recently, Bingbon has provided a convenient feature that is no less convenient than large exchanges like Binance, which is to directly buy BTC, ETH or USDT on the PC version.

The steps are extremely simple:

Step 1: Select “Buy cryptocurrency” => Choose the type of coin you want to buy

Step 2: Enter the quantity and select “Quick Buy” to go to the order information page.

Here, the order will display service providers, payment methods and detailed information. Please confirm the accuracy and complete information before pressing “Buy”.

Step 3: If you are trading for the first time, read the reminder message and click “confirm”.

The order information page displays the service provider, payment method, and other details. Click “Buy” after confirming all information.

Note: Buying directly with Fiat money is quick and saves time. You should link to an account that has been authorized to make previous transactions.

Instructions for trading on Bingbon

• On the left side of the interface is where trading pairs are displayed. Here you can choose crypto, Forex, Gold or index pairs.
• The chart is in the center of the screen and you can quickly observe price fluctuations. Bingbon integrates directly from Tradingview and the price chart is quite accurate and clear.
• The right side of the screen allows command settings. You can set Limit or Market here.

Place Trigger orders on Bingbon

• Choose Long or Short order type based on analysis or you can use MarginATM’s free VIP signal with winrate above 75%.
• In the Type section, select Trigger order.
• Activation/Trigger Price: is the price that will trigger when the floor matches your order.
• Margin: The amount you want to deposit for each trade order.
  
  
• Leverage/Leverage: Choose the leverage level that’s right for you.
• Take profit (TP): Enter the take profit price.
• Stop Loss (SL): Enter the stop loss price.
• Finally press the Long button to start placing the order.

Place Market orders on Bingbon

• Choose Long or Short order type based on your analysis can use MarginATM’s free VIP signals.
• In the Type section, select Market Order.
• Because the order is placed at the market price, there will be no Trigger Price and matching at the time you open the order.
• Margin/Margin: Amount of capital you want to enter the order.
  
  
• Leverage/Leverage: Choose leverage level.
• Take profit (TP): Enter the take profit price.
• Stop Loss (SL): Enter the stop loss price.
• Finally press the Long button to start placing the order.

Instructions for depositing/withdrawing money on Bingbon
Deposit money from another wallet or exchange

Step 1: Select “Assets” and select “Deposit”

Step 2: Choose the coin type, for this example in this section I choose Bitcoin

=> Then, copy the Bitcoin address provided by Bingbon, paste it into the “Your BTC wallet address” entry in the account on the exchange.

Note: The most important thing when depositing coins is to enter the correct address and send the correct asset type you have chosen. For example, if you want to deposit USDT, if you transfer ETH to a USDT address, you will lose that ETH forever and no one can help you get it back.

Instructions for withdrawing coins

Withdraw to personal wallet or transfer to another exchange:

Step 1: Go to “Assets” => “Withdraw money”

Step 2: Select the type of asset you want to withdraw => Enter the requested information and select “Withdrawal”

Fund Password

When making a withdrawal transaction, you should note that the exchange will ask you to provide a fund password in addition to the text/2FA verification code.

To set a withdrawal password, select “Security Center” in the “Account & Security” section => select “Fund Password”

Remember this password exactly because it can delay your withdrawal process if you forget it too easily.

How to use the CopyTrade tool on Bingbon
Advantages and disadvantages of Copy trade

Any trading actions performed by the Trader you copy (such as opening a position, stop loss and take profit orders, or closing a position, etc.) are also performed in your account. you according to the ratio between the copied Trader’s account and the copying trader’s.

If you are a copier, you can disconnect copied trades and manage them yourself. If you make a profit, after deducting all fees, you must give a portion to the Trader you copy, which is 8%, and you can stop copying at any time.

Instructions for copy trading on Bingbon

To copy trade on Bingbon, you first need to have an account with money. You register your account and deposit money as instructed above. The following will guide you to copy trade on Bingbon with web and app versions.

On the Website

Step 1: Go to Bingbon => select “Copy” on the Top tool bar

Step 2: Bingbon will provide you with a list of top traders with information about return rates, profit rates over the past 3 weeks and number of followers.

Can you click on any trader you are interested in to see other information such as profit sharing ratio, number of trading orders in the past 3 weeks,… => select “Copy” to start copying.

Step 3: Enter the required information. Here you can choose to copy by amount or rate, respectively, you will fill in the amount or benchmark unit => select “Copy immediately”.

On the phone

Step 1: Download the Bingbon App on CHPlay or App Store to your device. Then open the app and log in to your account

Step 2: Select “Community”, at this time the Bingbon interface appears with a list of traders.

Step 3: Choose a trader that suits your style => select “Copy” and “Copy now”

Step 4: Place a copy trade order with parameters on amount per order/standard unit, copy capital per day, maximum position capital and stop loss ratio

Step 5: Select “Immediately copy”

Link instructions and how to trade Bingbon on TradingView

You can now trade via Bingbon directly from TradingView.

Steps to link Bingbon account with TradingView

Step 1: Log in to TradingView with your account.

Step 2: Open the chart, click “Trading panel” at the bottom and select “Connect” in the Bingbon section => “Continue”.

Step 3: Sign in with your Bingbon account.

After you log in with your Bingbon account, at the top of the Trading Panel, there is a menu with the main settings for trading, a button to view a list of other brokers, and log out of the account. Your account ID and the dropdown for switching between sub-accounts are also there (if it’s a multi-account ID). Also here you can see your account balance, equity and profit.

Below are 5 small tabs including: Positions, Orders, History, Account Summary and Notification Log. The Positions tab shows you your active orders. The Orders tab has a filter for all order statuses for your convenience. The History tab displays matched orders, canceled and failed orders. The account summary tab shows your account balance and the Notifications Log tab are transaction related notifications.

How to trade Bingbon on TradingView

To open an order, right-click on the trading table or click on the market price in the upper right corner of the chart => select “Create new order”.

After the order is opened, you can set the price, quantity, take profit price, stop loss and your desired leverage level => select the Buy/Sell button to complete the order.

Instructions for integrating Binance API with Bingbon

Recently, Bingbon announced the integration of Binance Futures into the Copy Trading feature set.

This integration allows pro traders to connect and display their Binance Futures trades on Bingbon, and their followers can copy these trades.

Steps to integrate Binance API into Bingbon

Step 1: Log in to Binance, access API Management section.

Step 2: Set a name for the API => select “Create API”.

Step 3: Conduct account verification => “Send”.

Step 4: After successful creation, set API permission to “Allow read”.

Step 5: Log in to Bingbon, access “Manage orders”. In the “API Management” section, select “API Access”.

Step 6: Click “Authorize access”. Copy and paste Binance’s API Key and Secret Key into the Bingbon interface => continue to select “Authorize access” to complete. At this time, information about your Binance Futures transactions will be displayed on your Bingbon personal page.

How to Use Bingbon Professional Contracts
What is a professional contract?

Bingbon Professional Contracts are also essentially a type of perpetual contract, using USDT as margin and with no maturity period. This allows investors to flexibly trade without having to worry about closing positions and opening new positions at maturity. In addition, it helps solve troublesome problems such as missing transaction opportunities due to cumbersome procedures.

Bingbon Professional Contract has the following features and notes for traders:

There is no maturity date

Bingbon’s professional contracts have no maturity limit. This helps traders take advantage of the opportunity to trade perpetual contracts at low prices, with a high probability that they can hold that position for a long time and earn long-term profits.

Always fix the spot market price of digital assets

Bingbon Professional Contracts uses a funding fee regulation mechanism to fix the price of the spot index. Bingbon’s price index is taken from the average spot market price of major exchanges such as Huobi, Binance, OKEx,…

This helps prevent “whales” from manipulating market prices, causing serious losses to investors. Bingbon Professional Contracts uses a “funding fee” mechanism to regulate the balance of long and short sides.

Maximum leverage 125 times, flexible leverage adjustment

Normally, perpetual contract leverage has a relatively low term, but Bingbon professional contract leverage is much higher. Bingbon professional contract leverage is diverse by product, for example the BTC/USDT trading pair supports maximum leverage up to 125x. Particularly altcoins support large leverage up to 75x.

Traders can flexibly adjust leverage levels depending on personal needs to enjoy the most optimal experience. However, traders need to understand that leverage is determined by initial margin and maintenance margin. These two indicators determine the minimum capital required to open and maintain a position.

Support cross margin and separate margin mode trading

In separate margin mode, each order is independent of each other. Each order’s capital (also known as margin) will be forced to liquidate when the loss reaches the level that requires liquidation.

In cross margin mode, the margin of the entire order and the balance in the account will be the same and bear the same loss. It means that each position can lose more than its margin. When the loss reaches the forced liquidation level, the entire order will be closed and liquidated at the same time, losing all assets in the account.

Bingbon Professional Contracts allows switching between cross margin or separate margin mode. Overall, the cross margin mode is suitable for traders who use hedging – risk insurance, while the separate margin mode is suitable for short-term traders to easily control risks. After the position enters the holding state, users can adjust the margin to regulate risk, suitable for needs in all circumstances.

Advantages and disadvantages of professional contracts

Advantage

• Professional contracts still have cross and isolated forms similar to standard contracts.
• No price deviation when entering orders. This will be very beneficial for those using large leverage above 50x -75x.
• High leverage up to 125x.
• You can switch back and forth between separate margin and cross margin modes to regulate and minimize risks.
• Professional contracts use tick prices to calculate the unrealized profits and losses of all traders, and tick prices use a moving average price algorithm to avoid market manipulation, allowing the index Professional contract prices are closely linked to spot prices.
• There is no deposit maturity period.

Defect

• Using the BTC standard, some new or unfamiliar people will find it difficult to use. However, the standard can be modified so you only need to choose the standard you want to trade USDT or BTC pairs.
• Currently only supports USDT for deposit.
• The number of trading pairs is still small.

Instructions for using professional contracts

Step 1: Sign in to Bingbon. On the toolbar click “Professional Contracts”.

Step 2: Select “Transfer funds” to transfer assets to a professional account. Currently professional accounts only support USDT.

Step 3: Go back to the Bingbon Professional Contracts interface. Choose the corresponding trading pair according to your needs, such as BTC/USDT.

Step 4: In the “Open position” section, select a limit order or market order, the amount of BTC to open the position. Then select separate margin account mode/cross margin and trading leverage => Select “Buy Long” for uptrends, select “Sell Short” for downtrends.

Note: If you have multiple holding orders, the professional contract will consolidate these orders into one “position” for convenient unified management.

Bingbon trading bot

Arbitrage Bot is one of Bingbon’s first innovations after changing its name to BingX.

What is Arbitrage Bot?

Arbitrage Bot is an automated trading strategy in which users can buy low and sell high within a specific price range. In the volatile digital asset market, using Arbitrage Bot can help you avoid wrong trading decisions. This bot will assist users in seriously implementing the trading strategy of buying low and selling high that they set up themselves.

How Arbitrage Bot works

Arbitrage Bot helps you automatically earn profits without much effort. Simply choose a coin and initial investment amount – the bot will buy a certain amount of assets in accordance with the parameters set by you and open corresponding buy and sell orders in each grid (a corresponding grid). responds to a command).

The opened order will be executed when the price touches the preset price point. The sell order will be opened in the nearest grid above when the buy order is completed; Buy orders will be opened in the nearest grid below.

Fees will then be calculated based on the spot fee rate.

All your underlying assets will be sold and exchanged to quote assets such as USDT when you manually terminate the use of the trading bot or the “Take Profit” and “Stop Loss” settings are activated .

Steps to trade with Arbitrage Bot

Step 1: On the toolbar click “Trade” => Select “Spot” from the drop-down menu.

Step 2: Click ‘Arbitrage Bot’ in the upper right corner to enter the dashboard.

Continue to select “Auto” or “Manual” mode.

• Automatic mode: The system will set the most suitable parameters based on historical data analysis. With this mode, you only need to set the initial investment amount.
• Manual mode: With this mode you can manually set grid parameters, such as price range, number of grids, investment level,…
  
  

Step 3: Set parameters and click “Create”.

Step 4: Track your invested crypto assets in the “Arbitrage Bot” section once the strategy is created.

Note:

• 7-day annual profit test: The system recommends parameters to operate the strategy based on 7-day historical data of this trading pair.
• Price Range: Recommended price spread for the trading pair.
• Lowest Price: The lowest price level of the order range where no orders will be placed if the price falls below this lowest price.
• Highest price: The highest price level of the order range where no orders will be placed if the price rises above this highest price.
• Number of grids: The range between the high and low prices is divided into a certain number of grids, then your capital is divided equally per grid to carry out arbitrage within that range. The higher the grid number, the greater the frequency of price differences.

Earnings per Grid (Fees Deducted): Estimated earnings per grid within the price range after deducting processing fees.

Some questions when using Bingbon floor

Should you trade on Bingbon?

Bingbon is considered a trading platform with a simple and easy-to-use interface. So, if you don’t know which exchange to trade on, you can try demo trading with Bingbon!

Is Bingbon trading platform reputable?

Bingbon is a reputable exchange, licensed by the Financial Fraud Enforcement Department. Besides, Bingbon also has an MSB (Money Service Businesse) license.

Does Bingbon have exchange coins?

Currently, Bingbon exchange does not have exchange coins.

Trade Binance, what are the benefits of Bingbon?

• Helps pro traders reach more followers in the Bingbon Copy Trading community.
• Support traders to view the Binance account transaction data of the pro trader they are interested in, helping to fully reflect the strength of that pro trader.
• Unlock the new feature of cross-exchange copy trading (coming soon).

How will the copy fee be calculated?

If you are a pro trader trading on Binance Futures, trading fees will be calculated according to Binance’s fee schedule.

If you are a copy trader, a portion of the profit from a profitable copied order will be deducted by Bingbon to pay the pro trader you copy.

Register an account here BingX

For more information please visit: https://bingx.com/

Conclude

Trading on Bingbon is suitable for all subjects and brings efficiency in the trading process for traders. I appreciate the fees and operations the most, so I consider it to be a good CFD trading floor. most today.

If you have any questions, you can leave a comment below the article, the Coinvn98 team will respond to you as soon as possible. See you in the following articles!

Register an account here BingX

For more information please visit: https://bingx.com/