Rewriting the rules of crypto trading and putting your needs first, Basefex offers the world’s lowest trading fees, highest verified security, 24/7 live support and up to 100x leverage – all without any KYC.
Trading derivatives takes more than knowing the differences between indices and bonds. It requires great knowledge and experience to do it right, especially among professionals. It also requires working with the right trading platform.
BaseFEX: An Overview
BaseFEX is a relatively new entrant in the cryptocurrency derivatives exchange field. But it is already making a name for itself as a trusted platform that users can trade crypto derivatives with the most attractive leverage in the industry.
As a rule of thumb, whether you are an investor or a regular trader looking to make a living out of the crypto derivatives exchange business, understanding the most critical specks to look for in your trading platform is paramount.
That being said, here are some of the company’s services:
- User-friendly platform
- Leveraged trading
- baseFEX price chart
- user safety
- easy sign-up process
Over the years, trading crypto has been tainted with lots of irregularities primarily due to regular hacks that cost investors lots of money, and time. Any trader today would want to know how their prospective exchange platform ensures their digital assets are in safe hands.
BaseFEX employs an array of security features that ensures traders’ assets are safe. Currently, it’s among the few exchange firms that have never hacked, which is common with other platforms. Interestingly, an observatory-test program that involved 500+ exchange platforms carried out on Mozilla that rated BaseFEX among the top four with a score of A+, despite the platform being barely two years old into the crypto derivatives exchange business.
Among the security features that baseFex has integrated include two-factor authentication (2FA) which makes it difficult for hackers to access users’ assets. In addition to this, all the platform’s addresses are stored offline and are multi-signatured.
It’s the topmost security system which ensures that even if a system collapse were to occur, a hacker would still not have access to all the keys required to access traders’ assets.
BaseFEX understands that they are trading in a highly-populated industry, to beat the competition; the platform has done well to differentiate itself. The platform is designed with the most current cutting-edge technology that allows users to enjoy a reliable and transparent trading experience.
Although the platform offers the most advanced trading tools in the market today, it has been relatively simplified to suit both expert traders and new entrants. In addition, BaseFEX uses Trading View, third-party software that provides deeply analyzed pricing and market charts.
If English doesn’t suit you or you aren’t comfortable to trade in it. The platform has other options for you. There’s Russian, Chinese, Korean and Japanese. You’ll only need to switch to your favorite at the top right-hand corner of the website landing page.
Among the specks that users enjoy on the platform is leveraged trading. Leveraged trading means you’ll get exposure to certain crypto’s price increase or decrease without necessarily having the required assets.
“Leveraging” simply means borrowing from the platform to bet more. For instance, BaseFEX gives you 100x leverage for bitcoins and 20x upwards for the other coins.
The platform won’t limit you to trade in bitcoin alone. Among the cryptos traded on the platform includes;
- Bitcoin (USD/USDT)
- Bitcoin Cash
- Binance Coin
No KYC procedure
BaseFEX understands that many futures traders love trading on a platform that assures them their privacy is maintained. BaseFEX will only request your email address, name and nickname for you to start trading.
BaseFEX sign up process
Take selfies, scan identification documents are some of the KYC bureaucracies that BaseFEX wants to do away with. So, users joining the platform can do so anonymously. All you need is a valid email address for you to buy bitcoins and start trading on the platform. Here is an easy sign-up process;
- Once you’re on the BaseFEX site, click on the “register” button located at the top right side of the landing page.
- Key in your email address, your name and nickname.
- Review the terms and click the Register button.
Trading BTC perpetual contracts on BaseFEX
BaseFEX is a futures trading platform that offers users highly leveraged trading contracts for both bitcoin and other cryptos. Users need to note that trades are settled in either BTC or USDT. Before starting out, it’s recommended that every trader be familiar with the terms below;
Perpetual contract– it’s an agreement between two entities to buy/sell cryptos at a pre-determined price in future.
Perpetual contract– it’s a contract similar to the futures contract discussed above. The only difference is that they don’t have a set expiry date.
Initial margin– this is the minimum amount of bitcoin that a user needs to deposit for opening a position.
Maintenance margin– this is the minimum deposit that a user should hold for them to retain the position.
Settlement price– this is the price where a futures contract settles.
Mark price– a contract is marked at this price during liquidation and PNL calculation purposes.
Market order- once market order is placed, the order is executed with immediate effect at the market rate.
Limit order– it’s a type of order that allows user to set minimum or maximum price whereby you’ll buy or sell. The order is executed once this condition is met.
BaseFEX customer support
Although many crypto derivatives exchange platforms make efforts to offer the ideal customer support experience, they mostly lack in many ways such as limited access channels, unresponsive and dysfunctional support centres. Luckily, BaseFEX has capitalized on its customer support program to ensure that all queries are promptly answered.
Among the options that trader can reach out include email support, twitter, and even via live chat. In case of an urgent issue, the platforms’ LinkedIn account always has someone who can answer your queries.
Despite being a new entrant in the futures trading industry, BaseFEX has gained immense interest from both experienced and new investors. The platform is among the few that applies risk generated protocols systems that protect investors from the risk of making huge losses beyond their account balance.
BaseFEX is among the few upcoming trading platforms that allow users to transact and trade anonymously. The cutting-edge technologies that power the firm plus the high level of transparency that the firm portrays allow users to transact smoothly and more frequently.