Is BigONE a Good Crypto Exchange for Beginners?
It is important for novice cryptocurrency traders to choose the right crypto exchange. Not all companies can be used when you are just starting your path in trading, which is why the success in cryptocurrency trading depends on making the right choice. Beginners often wonder whether BigONE is a good crypto exchange to start trading with. In this article you will learn whether BigONE is good for beginners, what its pros and cons are and what a novice trader needs to know.
Short summary about the broker BigONE
The BigONE cryptocurrency exchange is a multifunctional platform for buying and selling cryptocurrencies and investing. Bitcoin, Ethereum, Ripple, Litecoin, DogeCoin, Bitcoin Cash, and dozens of other cryptocurrencies and coins are traded on the exchange. Fiats are represented by the US dollar, euro, Chinese yuan, South Korean won, Brazilian real, and other world currencies (thirteen in total). The site has margin and spot trading, trading in perpetual contracts. There is a simplified trading service and demo accounts (suitable for beginners and for perfecting trading strategies).
BigONE offers a range of investment solutions, from cryptocurrency staking to mining deposits. In addition to the web terminal, there is a mobile application for iOS and Android. A one-level referral program is available to all users. Commissions on margin are not more than 0.1%. They are up to 0.18% on spot.
| 💰 Account currency: | 13 cryptocurrencies (including the US dollar and the euro) |
| 🚀 Minimum deposit: | No |
| ⚖️ Leverage: | Up to x3, x10, x100 (depending on the type of instrument traded) |
| 💱 Spread: | Market |
| 🔧 Instruments: | Cryptocurrencies, fiat currencies |
| 💹 Margin Call / Stop Out: | No |
BigONE Pros and Cons
👍 Advantages of trading with BigONE:
•all the most popular cryptocurrencies and tokens are traded on this exchange;
•thirteen fiat currencies are represented (including the US dollar and the euro);
•six investment options, including loans and staking;
•TradingView web terminal and mobile trading application;
•the site and application host thirteen languages;
•a demo account is available to all users;
•no minimum deposit and one of the lowest commissions;
•profitable referral program (allows you to reduce commissions);
•leverages: up to х3 for ETFs, х10 for margins, and х100 perpetual contracts.
👎 Disadvantages of BigONE:
•the complex commission system is based on points, and not on trading volume or other factors;
•the site operates officially and transparently, but there is no information about the active license;
•there is no call center.
What is a Good Crypto Exchange for Beginners?
In order to choose the right broker for a beginner, you need to consider several aspects.
Here are the main ones:
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Education. It is important for novice crypto traders to learn how to trade. An exchange can offer educational courses, video tutorials, articles, webinars, etc. The more learning opportunities there are the better.
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Availability of a demo account. You will need this account to practice. It provides an opportunity for a beginner to trade risk free and try out trading strategies.
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Availability of a simple method to buy cryptocurrencies. An exchange service or a P2P exchange would be an advantage for an exchange.
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Low fees. The level of income of the trader depends on the level of the fees. Therefore, it is important to choose a company that charges minimum fees. Crypto exchanges mostly use the Maker and Taker fee model. It is important that you study them.
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Instruments for passive investing. In addition to active trading, passive income is also important for beginners. Pay attention to availability of copy trading or staking.
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Trading platform. It is important for a novice trader to choose the simplest trading platform that will be easy-to-use for trading.
In addition to these factors, you also need to consider how customer support operates, as it will also be important. Bonuses for beginners are also a nice perk.
Trading Conditions for BigONE Users
Before you start working with an exchange, it is important that you evaluate its trading conditions. BigONE offers traders the following conditions.
| 💻 Trading platform: | A proprietary version of TradingView |
| 📊 Accounts: | Standard, demo |
| 💰 Account currency: | 13 cryptocurrencies (including the US dollar and the euro) |
| 💵 Replenishment / Withdrawal: | Bank cards and accounts, electronic and cryptocurrency wallets |
| 🚀 Minimum deposit: | No |
| ⚖️ Leverage: | Up to x3, x10, x100 (depending on the type of instrument traded) |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | From 0 |
| 💱 Spread: | Market |
| 🔧 Instruments: | Cryptocurrencies, fiat currencies |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | No |
| 📋 Orders execution: | No data |
| ⭐ Trading features: | Lots of cryptocurrencies and tokens, thirteen fiats, six investment services, a non-standard referral program, low commissions and fees |
| 🎁 Contests and bonuses: | No data |
Commissions and Fees
The size of commissions and fees is also an important factor of choice. Traders Union analysts have prepared a short review of BigONE commissions and fees. In this section, you will find trading fees of the exchange as well as withdrawal fees.
BigONE charges commissions for margin and spot trading as well as contract trading. There are commissions for loans. There are five levels for each section. At the lower tier, the commissions are highest, at the upper level, they are the lowest.
For example, at the first level of spot trading, the commission is 0.18% for taker/maker, and at the first level of margin trading, it is 0.1%. At the fifth level on the spot, the commission is 0.054 / 0.063% for taker/maker. The fifth level for margin will provide a collection of 0.03 / 0.04%, respectively.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | Up to 0.1% per order | No |
Investment programs of BigONE
It is important for novice traders not only to trade actively, but also earn passive income. Passive investing can help you earn extra profit, and also compensate for the losses you may incur as a result of active trading. BigONE offers the following passive income options.
Investment Programs, Available Markets, and Products of the Crypto Exchange
The BigONE cryptocurrency exchange offers several options for passive earnings. Programs are available to every verified user without restrictions. The investment services presented have their own characteristics, conditions of participation, and income sources:
Lock-up Mining. The user blocks the selected cryptocurrency or token on his account. The asset is used for mining remotely, the funds received are sent to socially significant projects. Income depends on the size of the deposit and the duration of the blocking, calculated daily.
De-Fi Staking. The user blocks an asset on the account according to the selected program for a specified period. The funds are used to develop third-party blockchain projects. They can be withdrawn in whole or in part, and the profit is recalculated daily.
Flexible and term deposits. The user blocks assets in his account, providing them to the platform for development. Programs differ in asset, minimum deposit, and validity period. The longer the asset is blocked and the larger its volume, the higher the payouts for the program.
POS. Contributions to the development of specific cryptocurrencies, tokens, and projects. Technically, for the user, these programs are no different from staking, flexible, or time deposits. You can choose the asset and the duration of the deposit. Most often you cannot use a blocked deposit until the end of the program.
Nodes. The user provides funds to the Mixin ecosystem, which uses its own XIN token and acts as an official partner of BigONE. To participate in the program, you must purchase XIN and freeze it in your account. Profit is calculated daily.
Auto investment. The easiest option with the lowest entry threshold is the minimum deposit of $20. The user enters funds in any cryptocurrency or currency, the platform independently uses them to invest in various programs and projects.
Detailed information about investment services is available in the "Finance" section of the BigONE crypto exchange website. Service programs are constantly changing and supplemented.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of thedeal and all the steps from signing up to withdrawal of profits.
BigONE’s affiliate program
The crypto exchange's affiliate program is called BigONE Star. To join it, you need to register, verify and send a personal application by email. Please note that the application may not be approved due to low activity on your account.
After you become a member of the referral program, a personal affiliate link will be available to you in your personal account. You can post this link on any platform at your discretion. Each user who follows this link, is verified, and starts active trading, will become your referral. The benefits you get from your referrals include:
10-40% of the commission fees for trading operations of each referral (the percentage depends on your level);
10% discount on commission fees on trading operations of your own.
Conclusion. Is BigONE good for beginners?
The BigONE cryptocurrency exchange will be an excellent choice for beginners. The exchange offers a convenient trading platform, which a beginner can learn to work with rather quickly. There is an excellent education center with a large number of materials for novice traders. Also, traders can earn passive income on good conditions. Therefore, BigONE could be considered as a good cryptocurrency exchange for a start.
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FAQ
What do I need to know about the fees charged by cryptocurrency exchanges?
The majority of cryptocurrency exchanges use the Maker/Taker fee model. As a rule, they use a multi-level system for traders that depends on the trading volume. The higher the trader’s trading volume, the lower the fees.
How do I choose a reliable cryptocurrency exchange?
Crypto exchanges mostly operate without licenses, as the majority of countries haven’t adopted legislation to regulate them. In order to choose a reliable exchange, you need to find out about its reputation and read the reviews about user experiences with it.
How many cryptocurrencies could a crypto exchange offer?
The number of cryptocurrencies on the listing of a cryptocurrency exchange may be very different. Some platforms offer less than 10, while others – several hundreds. It is important that you check the choice of cryptocurrency before registering on the exchange.
What are the risks of investing in cryptocurrencies?
Investing in cryptocurrencies carry high risks due to their high volatility. It could cause substantial losses, which is why it is important to observe the rules of risk management.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.