If you’re at the cryptocurrency area, then you may possibly have known about BW.com. BW.com is a cryptocurrency market offering many intriguing features like leveraged gross profit marketplaces, a referral application, plus much more. Can BW.com surpass their own hype? Read our review on BW.com today and learn the reality.
The calendar year 2017 declared a landmark moment for that whole cryptocurrency community because gigantic flooding of volume purchased cryptocurrencies all around the marketplace, fundamentally forcing Bitcoin to its all-time high cost (at the time of the writing). The distance fundamentally became bombarded with fresh markets offering individuals the opportunity to obtain into the activity. Even the “big boom” actually happened in December of 2017, with the runup beginning around October. As a rising amount of exchanges came into the distance, 1 market, particularly, BW.com (amongst others) had been serving the distance earlier Bitcoin became the household name it’s now. What does this crypto marketplace need to provide that additional market deficiency? Can it be BW.com a trusted and valid exchange?
A Brief History of BW.com
BW.com was set in 2014 and has been originally a Bitcoin mining pool. The market, even as we all understand it now, was set in January of 2017, not the complete year earlier Bitcoin’s big runup. BW was created with the long-term vision of making sort of self-employed machine which joins people throughout the trading and using crypto shares. Back in 2017, it was announced that the BW market has been fully developed by the Australian Collinstar Holding company. The market had, at once, been at the top exchanges in the entire world, ranked by volume, however, it has after all dropped in rank in contrast to a vast quantity of different trades at the cryptocurrency distance now.
BW.com Product Offerings
BW features many of tokens, tradable in various pairs. To begin with, BW.com delivers the household name crypto tokens like Bitcoin, Ethereum, along with Litecoin, together with an extensive swath of all altcoins (both exotic and popular ). Thus far, there are more than 80 coins, using more than 140 trading set mixes. The market features trading marketplaces in USDT, BTC, and ETH. BW also supplies tradable pairs using QC (a Chinese Yuan stablecoin), BUSDT, TRX, along with KC.
BW.com Platforms and Tools
The market features trading onto a conventional spot platform, in addition to margin trading. A number of the tokens offered on BW have leverage up to 10x, together with 20x leverage on pairs like BTC/USDT, LTC/USDT, ETH/USDT, as well as more.
Margin trading is also a priceless tool for traders, letting them battle larger rankings while holding an inferior quantity of capital. Traders essentially “borrow” the capital from foreign markets, paying the initial sum back once the trade will be locked, with the benefit or loss revealed from the trader’s accounts balance. While benefits and losses can accumulate fast, risk may be lessened with the appropriate using a Stop-Loss. Traders can capitalize on an excellent benefit to risk ratio which introduces itself with all the ability of leveraged margin trading.
Aside from the trading platform, BW.com offers their Tokens LaunchPad. This area of this market is devoted to the launching of fresh tokens which are increasingly being recorded on the market. Every time a new job is being recorded on the market, frequently the market (in partnership with all the job ) will hold a contest, air-dropping a reward into a blessed user who wins the lottery by simply fulfilling the credentials set out within the competition recommendations.
Another identical contest that BW offers in their exchange would be To The Moon. This rivalry comes with an exceptional cryptocurrency and allows traders to engage as an individual, or even as a team. Users/teams who have the ability to satisfy the essential requirements will frequently get a reward. With this specific gamified stage, BW has resisted the usage of these stages in a profitable way.
To incentivize using these stage farther, BW provides an extremely rewarding referral app. When users consult with their friends to connect the market, the user may receive between 10 30 percent commission in their own friend’s trades, determined by the degree of trader that brand new user eventually ends up being.
The BW Pool allows end-users to earn significantly more cryptocurrency by bending a token for a predetermined time period. In this lock-up time period, users may pay attention to be paid once the lock-up period is finished. Many times, a number of the coins provided at “lock-up” services are now actually competent to be emptied out of the self-custodial wallet. With that said, fantastic care needs to be used when deciding whether it is going to cover more to bet the intricacies with the market. The users may lock include VSYS, NULS, USDT, EOS, ATOM, and much more. When an individual isn’t using their shares, this is a profitable way to put shares to work, generating benefits.
BW.com also has an OTC service available for those who wish to buy/sell with fiat directly through the exchange without having to use the spot marketplace. This allows users to purchase and sell directly with another user, at amounts set by said users. Currently, CNY is the only supported fiat currency, with support for USD; KRW; GBP; EUR; JPY; THB; and HKD coming soon.
For convenience, BW.com offers a trading application available for Android/Apple phones, as well as Apple/Windows-based computers. These applications feature all of the services and functions found on BW’s web site, allowing the user to trade and manage their accounts without having to open a web browser.
Concerning the fees a trader will pay, BW operates with a standard Maker/Taker fee schedule, set at 0.2% for the spot marketplace, and 0.2% for the margin trading platform. The exchange also has fees for deposits and withdrawals, varying in rates dependent upon the token. For more information on fees, feel free to visit: https://www.bw.com/feesRate.
BW.com Customer Support and Resources
For customers in need of assistance, BW has an FAQ section, though clicking on the FAQ link of the website brings the user to somewhat of a dead end, as the actual FAQ is found by clicking FAQ > Announcements. Only after clicking Announcements will the user be taken to a Zendesk site featuring articles covering every facet of the exchange.
Should a customer need direct support, the exchange has offered the email address of their customer support team. Once the customer sends a request, support should respond in a timely manner to help seek a solution.
BW also has a presence on Medium and has made their contact info available for Telegram, KakaoTalk, Reddit, Twitter, and more.
Should a new customer have trouble understanding how the margin trading platform works, BW has offered their Margin Trading Training Camp. This resource will explain how margin trading works, as well as going into probabilities and risk/reward ratios. While it does demand respect, margin trading is a wonderful tool that doesn’t even have to be stressed and maybe summoned victoriously when known fully.
Is BW.com Trustworthy?
While it could definitely be safe to run a business on BW, their trustworthiness remains suspicious at best. Some of the services aren’t as transparent as they are, usually a failure to spell out or condition exacts and statistics which will maybe be shared knowledge (such as the length of time a referral event, otherwise called commission time period, continues when speaking new associates ). There are additional difficulties with the website, since a number of the pages deficiency aesthetic, and additional pages are completely dead or so are misleading (like the FAQ), and also a few pages have been left untranslated (although the site is extended in numerous languages). All these are a few matters to consider ardently. When an exchange will be to predict legitimate, it’s the market ‘s obligation to complete their absolute best to use in a valid method. But, it’s the consumer ‘s responsibility to demand which trades operate in concordance to establish standards and never accept less.
Opening a Free Account on BW.com
Opening a free accounts on BW.com is pretty straightforward and straightforward. To start, just click on the Sign-Up button on the top of BW’s site. This will need the newest customer into a subscription page, allowing clients to join via Phone or Email.
To join with a contact number, each of a user should offer is the country calling code, telephone number, and a password. Once a contact number is supplied, the market will send an exceptional code to confirm the telephone number is valid and correct. After clicking on the box to consent to BW’s Registration Agreement, an individual should click on the yellowish Sign-Up button beneath the info areas to go on with the approach.
To join via the current email speech, the procedure is equal to this telephone number lookup procedure. The user is going to need to deliver a contact address, a password, and also the exceptional code (that is likely to soon be transmitted to the email provided).
From here, the consumer should finish their profile to abide by Anti-Money Laundering/Know-Your-Customer regulations. This information includes the consumer ‘s speech, in addition to a upload of their purchaser ‘s form of ID.
Conclusions For BW.com
While BW has been one of the primary mining operations from Bitcoin’s ancient days, it still remains uncertain whether their transition from mining into operating a market has become successful. Trading volume has fallen in the last few years as more workable trades have entered the cryptocurrency space. All in all, the market lacks a degree of professionalism this someone needs to expect when running a business on the cryptocurrency exchange.
Commissions and charges3.2/5
Deposits and Withdrawals3.7/5
- Leveraged Margin marketplaces
- Attractive referral app
- Large number of tokens extended in multiple pairs.
- Multiple providers provided
- Sections of site unsure, misleading, untranslated, or even completely dead.