Is KYC needed on BCTEX
Ease of use: Whether you are an advanced trader or a beginner, you have the right and freedom toinvest in many crypto pairs and take advantage of a wide range of tools and features to create your financial growth chart..
BCTEX Global is one of the world's leading cryptocurrency exchanges. Currently serving more than two million users across 50 countries, BCTEX accelerated its mission to promote decentralised finance in 2022 with a 600-strong workforce spanning over twenty countries.Low Fees.
Educational resources. BCTEX Global features tutorials, trading ideas and analysis under its “Learn” tab. Currently, there are 187 coins and 304 trading pairs available on the exchange. Upbit 24h volume is reported to be at ,162,368,789.06, a change of -18.45% in the last 24 hours. The most active trading pair is SXP/KRW with a 24h volume of 0,707,524.78. Exchange Reserves data is currently unavailable for Upbit. The other exchange platforms such as Binance, Huobi Global, OKX, Coinbase, BCTEX Global and etc that can be traded more than 180 coins..
You can also discuss your question with the community in the BCTEX Telegram channel..Only trading in crypto-crypto pairs is available at the exchange, there are no crypto-fiat pairs, and fiat currencies cannot be stored in the account..
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One downside of BCTEX is the limited range of cryptocurrencies supported. While this may be an issue for some who want diversity, we find that most frequent traders tend to focus on the most popularly traded coins anywaySupport multi-currency transactions our platform selected high-qualitycoins carefully
The fees charged by BCTEX are lower than the industry average. When spot trading, you pay 0.10% per order. When contract trading, you pay 0.06% if you are a taker and 0.04% if you are a maker. Every trade occurs between two parties: the maker, whose order exists on the order book prior to the trade, and the taker, who places the order that matches (or “takes”) the maker’s order. It is common that exchanges charges makers less, as a way to incentivize orders that create liquidity in the market.For instance, let’s say that you have 100 USD in your trading account and you bet this amount on BTC going long (i.e., going up in value). If BTC then increases in value with 10%, you would have earned 10 USD. If you had used 100x leverage, your initial 100 USD position becomes a 10,000 USD position so you instead earn an extra 1,000 USD (990 USD more than if you had not leveraged your deal). However, the more leverage you use, the smaller the distance to your liquidation price becomes. This means that if the price of BTC moves in the opposite direction (goes down for this example), then it only needs to go down a very small percentage for you to lose the entire 100 USD you started with. Again, the more leverage you use, the smaller the opposite price movement needs to be for you to lose your investment. So, as you might imagine, the balance between risk and reward in leveraged deals is quite fine-tuned (there are no risk free profits).
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KYC: KYC is not compulsory unless users are withdrawing an amount of more than 2 BTCs or want to trade in FIAT. KYC is optional for users that do not trade in fiat or withdraw less than 2 BTCs.11. Is BCTEX cheaper than Binance?
Without identity verification, the account's functionality will be limited. Unverified users are not able to withdraw over 1 BTC weekly or access advanced functionality: create Codes, take part in Trading Competitions, etc.