Is BW com 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 BW com is a good crypto exchange to start trading with. In this article you will learn whether BW com is good for beginners, what its pros and cons are and what a novice trader needs to know.
Short summary about the broker BW com
The BW.com cryptocurrency exchange offers spot and derivatives trading with up to x100 leverage. The most popular cryptocurrencies and tokens are traded on the exchange, including Bitcoin, Ethereum, Litecoin, Tether, Qtum, DOGE, HENA, and others. And also there are three fiats: the US dollar, the Chinese yuan, and the South Korean won. There are built-in solutions for diversifying risks in margin trading. The exchange has its own tutorial for novice traders with a quick start and a simplified terminal for trading. Of the passive earning options, classic staking is presented for up to 180 days with a yield of up to 50%. For margin trading, commissions are fixed for the taker/maker at 0.2%. Perpetual contract fees are contract-specific.
| 💰 Account currency: | Cryptocurrencies, USD, CNY, KRW |
| 🚀 Minimum deposit: | $1 |
| ⚖️ Leverage: | 1:100 |
| 💱 Spread: | Market |
| 🔧 Instruments: | Cryptocurrencies, currencies |
| 💹 Margin Call / Stop Out: | No |
BW com Pros and Cons
👍 Advantages of trading with BW com:
•all major cryptocurrencies and three fiats, including the US dollar, Chinese yuan, and South Korean won;
•margin trading and derivatives trading with the ability to reduce risks and high leverage (up to x100);
•a simple tutorial for novice crypto traders and a simplified spot trading service;
•many staking programs for passive earnings, for different periods, with a high-interest rate;
•low fixed swap fees;
•perpetual contract fees are average for the segment;
•all major options for depositing and withdrawing fiat funds and electronic money, including third-party wallets, Visa, and MC cards.
👎 Disadvantages of BW com:
•no demo accounts;
•no connection with technical support by phone.
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 BW com Users
Before you start working with an exchange, it is important that you evaluate its trading conditions. BW com offers traders the following conditions.
| 💻 Trading platform: | TradingView terminal |
| 📊 Accounts: | Standard |
| 💰 Account currency: | Cryptocurrencies, USD, CNY, KRW |
| 💵 Replenishment / Withdrawal: | Bank cards and accounts, electronic and cryptocurrency wallets |
| 🚀 Minimum deposit: | $1 |
| ⚖️ Leverage: | 1:100 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | From 0 |
| 💱 Spread: | Market |
| 🔧 Instruments: | Cryptocurrencies, currencies |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | No |
| 📋 Orders execution: | No data |
| ⭐ Trading features: | Bitcoin, many altcoins and coins, three fiats, a simple and convenient investment program (staking), there is a training course and a simplified terminal for beginners, low commissions |
| 🎁 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 BW com commissions and fees. In this section, you will find trading fees of the exchange as well as withdrawal fees.
The BW.com crypto exchange charges trading fees. If it is margin trading, then the commission is fixed for the taker and maker at 0.2%. For market makers, it is 0%. For perpetual swap trading, the fee depends on the specific contract. That is, in any case, the fee is not affected by the trading volume, and there are no trading levels on the platform in comparison with most competitors.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | Up to 0.2% per order | Yes |
Investment programs of BW com
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. BW com offers the following passive income options.
Investment Programs, Available Markets, and Products of the Crypto Exchange
The BW.com cryptocurrency exchange provides a standard solution for its segment, which is staking. These are cryptocurrency deposits in developing blockchain projects that require borrowed funds. The exchange acts as an intermediary platform between such projects and crypto traders who want to passively earn using cryptocurrency.
To participate, you need to go to the "Finance" section, then to the "Pool" subsection. This subsection provides a list of current programs. Programs differ in asset, minimum deposit, term, and interest rate. The minimum deposit period is one day, the maximum is 180 days. For the period specified by the project, the deposit invested in the program is blocked. After its expiration, the deposit plus accrued interest is returned to the user.
The interest rate can be from 1%, depending on the program. Often the interest rate is floating and depends on the success of the project development. In some cases, it can reach 50%. The minimum deposit is small, usually from 15 USDT in an equivalent asset. Any user who has registered and verified on the exchange can participate in these programs.
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.
BW.com’s affiliate program
The BW.com crypto exchange does not provide affiliate (referral) programs for a broad audience. This means that you can invite other users to the platform, but you will not receive any advantages or bonuses as a result. Many traders consider the nonexistence of a common affiliate program a sign of the success of this platform, which does not need to stimulate a massive influx of traders.
Please note that BW.com offers a Super Affiliate program. Participation in it is individual and upon request. It is available to users who have popular media resources and blogs. The exchange will provide you with promotional materials, reduced commissions on trading operations, and the possibility of passive earnings from commissions of traders who came to the platform via affiliate links from your resources or blogs.
Conclusion. Is BW com good for beginners?
The BW com 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, BW com 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.