Is Pionex 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 Pionex is a good crypto exchange to start trading with. In this article you will learn whether Pionex is good for beginners, what its pros and cons are and what a novice trader needs to know.
Short summary about the broker Pionex
Pionex is a cryptocurrency exchange launched in 2019 in Singapore. It operates under the Money Services Business (MSB) license issued by FinCEN, a US regulatory authority, with such world-known exchanges as Huobi and Binance also operating under its license. Pionex is currently one of the fastest growing platforms in Asia with a daily trading volume exceeding USD 30 million. Over 100,000 traders from all across the world use the services of the exchange. Pionex offers manual and automated cryptocurrency trading, including with leverage. The clients of the exchange have access to trading over 300 trading pairs, liquidity from the largest international exchanges and 16 types of built-in bots.
| 💰 Account currency: | Over 30 cryptocurrencies |
| 🚀 Minimum deposit: | 0.0001 BTC, 1 USDC/USDT, 0.001 ETH |
| ⚖️ Leverage: | 1:3 for pairs with BTC and ETH, 1:2 for pairs with other currencies |
| 💱 Spread: | 0,05-0,1% |
| 🔧 Instruments: | Cryptocurrencies |
| 💹 Margin Call / Stop Out: | No |
Pionex Pros and Cons
👍 Advantages of trading with Pionex:
•Minimum deposit is USD 1 in cryptocurrency equivalent;
•Low fees even with small trading volumes;
•No restrictions on strategies – you can trade on your own or using built-in bots;
•Wide selection of crypto assets, including for margin trading;
•High security: license of a US regulator, holding funds in cold wallets;
•Diversity of trading bots and no addition fees for using them;
•2FA (two-factor authentication).
👎 Disadvantages of Pionex:
•No fiat deposit and withdrawal options;
•Referral awards are given only for users with trading volume of USD 20,000 or more;
•Uninformative responses of customer support.
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 Pionex Users
Before you start working with an exchange, it is important that you evaluate its trading conditions. Pionex offers traders the following conditions.
| 💻 Trading platform: | Web (Standard, Pro), Mobile App (Android, iOS) |
| 📊 Accounts: | Standard |
| 💰 Account currency: | Over 30 cryptocurrencies |
| 💵 Replenishment / Withdrawal: | Credit cards, cryptocurrencies |
| 🚀 Minimum deposit: | 0.0001 BTC, 1 USDC/USDT, 0.001 ETH |
| ⚖️ Leverage: | 1:3 for pairs with BTC and ETH, 1:2 for pairs with other currencies |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | 0.00001 BTC |
| 💱 Spread: | 0,05-0,1% |
| 🔧 Instruments: | Cryptocurrencies |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | Binance, Huobi Global and other large exchanges |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | Market, Limit |
| ⭐ Trading features: | Manual and algorithmic trading with leverage are available |
| 🎁 Contests and bonuses: | No |
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 Pionex commissions and fees. In this section, you will find trading fees of the exchange as well as withdrawal fees.
The rate of the trading fee on Pionex depends on the trading volume and on whether a trader uses leverage. Clients with a 30-day trading volume of less than 15 BTC are assigned the Standard status. Without the leverage, they pay 0.05% fee to the exchange. The fee for margin trading is 0.1%. Traders with the trading volume equal or higher than 15 BTC are qualified as VIP clients. Depending on the level (VIP1-VIP8) and the type of the order (Taker/Maker), their fees are 0.045%-0.09%. Deposits are free. Withdrawal fee is set by the blockchain network. For each cryptocurrency, the rate is different: 0.0005 BTC, 0.0015 LTC, 0.25 XRP, etc.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | 0.5$ for a transaction of USD 1,000 (without leverage) | Yes |
Investment programs of Pionex
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. Pionex offers the following passive income options.
Investment Programs, Available Markets, and Products of the Crypto Exchange
Pionex offers its clients a number of investment solutions for earning additional income even without active daily trading. Staking is one of them, although this option is not permanent, but active from time to time. The exchange also offers trading bots you can use to trade automatically without your direct involvement. In addition, dual investment and a referral program are available.
Dual Investment and trading bots are passive income instruments on Pionex
Algorithmic trading with bots, special software configured for various fluctuations in cryptocurrency prices, is available on Pionex. Investors can use 16 bots, the most popular being Grid Bot, DCA Bot, Rebalancing Bot and Arbitrage Bot. Using bots is free. Traders pay standard trading fees: 0.05% of the amount of transaction (with leverage 1:1), 0.1% (with leverage 1:2, 1:3).
Dual investment features:
Two types of Duel Investment are available: manual and automatic daily reinvesting.
An investor can invest in USDT-BTC or BTC-USDT.
The yield is the same for both pairs at 0.6%.
Dual Investment is a structured savings product with a fixed yield rate, but undetermined settlement currency. The currency in which the profit is paid is determined upon the maturity of the contract. Let’s review this using the example of investing in the USDT-BTC pair. An investor invests US dollars and choses the period. If on the payment date, the BTC price drops below the target investment price, the investor receives profit in BTC, and if it is higher – in the US dollars.
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.
Pionex Affiliate program
The affiliate reward is 20% of the commission paid by the referred users to the exchange. The funds are credited only after specific conditions are met. A new user must register using the link of the Pionex client, run a Grid bot and reach a trading volume of USDT 20,000.
In order to start receiving the reward, a referrer must invite at least two people. They must pass Level 2 verification, i.e. provide the official ID and a selfie with the document.
Conclusion. Is Pionex good for beginners?
The Pionex 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, Pionex 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.