BiKi
Reviews 9
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1.0
Unverified company
biki.com
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A cryptocurrency exchange where you can trade tokens and derivatives, invest in altcoins or stacking, and arrange a secured cryptocurrency loan.
Cryptocurrency exchange
Website
Social media
Date of foundation
2018
Head Office
1 North Bridge Road, #21-10 High Street Centre, Singapore
Types of support
Live Chat
Feedback form on the site
Help Center
Facebook
Twitter
Telegram
VKontakte
Languages
Russian, English, Chinese, Vietnamese, Korean
Founder
Du Jun
The owner of the company
Du Jun, FBG Capital, ChainUp and other venture capital funds
Manager
Du Jun
Minimum entry amount
Verified
Cryptocurrency
  • From 0.0001 BTC
Fiat
  • Bank card (Visa/MC): to 50 USD
Unverified
Cryptocurrency
  • From 0.0001 BTC
Fiat
  • Bank card (Visa/MC): to 50 USD
Maximum input amount
Verified
Cryptocurrency
No limits
Fiat
  • to 20 000 USD
Unverified
Cryptocurrency
No limits
Fiat
  • to 20 000 USD
Minimum withdrawal amount
Verified
Cryptocurrency
  • From 0.001 BTC / Equivalents of other cryptocurrencies
Fiat
Not available
Unverified
Cryptocurrency
  • From 0.001 BTC / Equivalents of other cryptocurrencies
Fiat
Not available
Maximum withdrawal amount
Verified
Cryptocurrency
  • to 100 BTC / per day
Fiat
Not available
Unverified
Cryptocurrency
  • to 0.5 BTC / per day
Fiat
Not available
Exchange Commission
Withdrawal fee: 0.0005 BTC
Trade Commission: To 0.15 % for maker / To 0.15 for taker
Terminals
TradingView
Age restrictions
From 18 years
Trading volume per day
20500 BTC
Number of users
3000000+
Number of cryptocurrencies
140+
Margin Trading
Yes
Leverage
To 1:300
Tokenized assets
Yes
Free Demo Account
No
Types of accounts
Execution of orders
Market Execution (at market price), Limit Orders
Methods of replenishment
Bank card (Visa/MC), Cryptocurrencies
Withdrawal methods
Cryptocurrencies
Account currencies
Cryptocurrencies, USD, EUR, CNY, JPY
Types of cryptocurrencies
Bitcoin, Ethereum, Tether, Litecoin, Ripple, etc.
Mobile applications
No mobile apps
Trader training
Help center, materials in social networks
A way to store cryptocurrencies
Cold: yes
Hot: yes
Fiat accounts
Yes
Scalping
Trade from 1 minute to 1 month
Stop Loss and Take Profit Function
Yes
Exchangeability for fiat currencies
Yes
TradingView terminal features
A lot of indicators, graphical elements, depth charts, order glass, etc.
Trading Strategies
All strategies for trading in the cryptocurrency markets are allowed
Additional features
Free coins from the exchange for activity, staking, off-market cryptocurrency exchange
Crypto loans
You can get a loan secured by crypto assets. Collateral requirements for the loan: 60%
Basic verification
Not required at registration
Extended AML verification
Regulatory laws
Law of the Russian Federation "On digital financial assets" from January 1, 2021
The Law of the Russian Federation from 07.08.2001 N 115-FZ "About counteraction to legalization (laundering) of incomes received by a criminal way and terrorism financing".
API
Read moreA simple and effective way to integrate the client's trading application into the exchange platform
Affiliate Program
No
Benefits
A large number of supported currencies
One of the largest trading volumes on the market
Possibility to refill with a bank card
Round-the-clock support, credit and ETF
Not a bad commission on the exchange with a clear and affordable system of discounts
Disadvantages
Weak support and poor translation of the Russian version
Company requisites
Overall assessment
0/10
Date of update
27.04.2022

    BiKi is it a scam? Reviews and description

    11 March 2021


    BiKi Exchange - is a full-service cryptocurrency exchange. Here you can trade tokens and derivatives, invest in altcoins or stacking.

    The site also allows for a secured cryptocurrency loan. But isn't it a scam crypto exchange BiKi? Let's find out in the review.

    Use the invitation code to register WGQLHWG

     

    Why BiKi?

    BiKi is a centralized cryptocurrency exchange launched in August 2018. It is headquartered in Singapore, the Asian fintech capital. One of the founders of the site was Du Jun, co-founder of Huobi. The company has proclaimed its mission to create the safest and most stable exchange for cryptocurrency trading. The trading platform was created with money from venture capital investors. The project included FBG Capital, ChainUP, and Genesis Capital funds. A total of about $10 million was raised.

    BiKi is a scam? Reviews

    BiKi also issued its own token of the same name. It is needed for transactions within the crypto exchange and uses marginal deflation. That is, the issuer burns a portion of the token each quarter to stabilize the price. The coins are redeemed with revenue generated from transaction fees. BKi is growing very quickly - 140 altcoins are already available for trading two years after launch. The administration claims that more than 3 million users are registered on the platform. BiKi's services are used by 200,000 people every day, which creates an average daily trading volume of about $1 billion.

    China has become the main market for this crypto exchange. That is where the first venture capital investments came from. Later, BKi began to serve customers from other Southeast Asian countries. By the beginning of 2021, the company attracted users from 100 countries, including Russia. That's why Russian is available on the website biki.com along with Chinese and English. In addition to cryptocurrency exchange on BiKi there are other services:

    • Margin Trading. Traders use a leverage of 1:300. It allows to get more potential profit from the transaction, but increases the risks.
    • Perpetual contracts. Nominated in US dollars, Bitcoin, Ethereum, Bitcoin Cash, Ripple, EOS and Litecoin are used as the underlying asset. The maximum leverage for the BTC/USDT derivative is 1:125, ETH/USDT - 1:100, for other assets - 1:50.
    • Hybrid contracts. This is a relatively new format for margin trading on the derivatives market. Here users can provide margin to a third-party token, without conversion to stabelcoin or the underlying asset.
    • ETFS. This is another type of trading using contracts. The ETF already has a margin of x3
    • FastLoan. Loan service secured by crypto-assets. The user does not have to sell coins - collateral can be placed in almost all altcoins available on the site. The application is processed in 30 seconds. If approved, funds are credited in 2 minutes. The maximum credit is 500 thousand USDT. Collateral rate is 60%, plus or minus 10% depending on the customer's risk profile.
    • Earnings on providing liquidity. This is already a standard market opportunity for passive income. The investor must exchange the required tokens for the underlying tokens and hold them. The reward rate is dynamic. It changes due to the price of the underlying asset, volumes in the pool, and other market conditions.

    In general, the set of services on BiKi is standard. This exchange does not offer anything original, limiting itself to the "slightly above average" package. Loans, margin trading and liquidity pools are available today on almost all platforms from the top 30 by daily volume (How to make money on cryptocurrency?).

    biki.com cryptocurrency trading

     

    How to exchange cryptocurrency on the BIC platform?

    Cryptocurrency exchange is available in the "Trading" section. You can go there from the main menu of the site biki.com. The trading section is simple and straightforward - in the center is the chart, and below it is a form for exchanging assets. On the left side in the column you can select the pair of interest. Two types of exchange are available:

    • "Limit.". This is a transaction at a limited value specified by the user. Suppose the client wants to buy BTC for USDT. Then in the "Price" field he must specify how much USDT he is ready to give for one bitcoin. Or he can enter the desired amount of BTC in the "Amount" field, and the system will calculate how many USDT will be needed to buy. Clicking on the button with the percentage, the user can put some part of the balance - from 25 to 100% into orders. Then you need to click "Buy BTC" button and the funds will be credited to the wallet.
    • "Market.". This is buying or selling at the current market price. This option is somewhat easier. You just need to specify the desired number of coins and click on "Buy". The exchange itself will choose the best price available in the cup.

    Transactions with the sale of assets are carried out the same way, but in the right form and after clicking on the "Sell" button. There is another tab available in orders - "Grid Trading". With this feature, users can immediately deposit tokens into the liquidity pool and proceed to earn cryptocurrency.

    BiKi cryptocurrency exchange

    There are OTC trades with other exchange clients. They are in the "Fiat" - "OTC trading" section. Alas, this method is focused strictly on the Chinese audience. All prices are specified in yuan, and AliPay and WeChat applications are used for payments. Yes, you can choose bank cards, but keep in mind that transfers will be sent to accounts from China, which is fraught with additional fees. Communication between sellers and buyers is also most often in Chinese. Only Tether and Tron altcoins are available for transactions.

    BiC mobile app

     

    Verification on the biki.com platform

    BiKi does not require confirmation of identity after registration. In principle, traders with small volumes may not go through this procedure at all. But identification will be useful for expanding limits and increasing account security. KYC affects credit approval and bail rate. If the user is verified, it is possible to reduce collateral requirements.

    biki.com verification

    So, to pass the verification, you need to go to a personal account on the site biki.com and open the "Accounts list" section. Next:

    • Next to the "Identity Confirmation" field, click the "Verify" button.
    • In the drop-down list that appears, select your country of residence and click "Confirm".
    • The questionnaire opens. Here you have to choose the type of document. This can be a passport, driver's license or ID-card. Priority is given to documents in Latin alphabet.
    • Next, fill in the fields. Enter the first name, last name and ID number of the document selected in the list. Remember that the first and last name in the form must be written as in the documents.
    • Then you will need to upload three files. A scan of the front side of the document, a scan of the back side, and a selfie with this document and a piece of paper in hand. The same document is used at all stages. If you chose a driver's license at the first stage, you need to send a photo with the same license in your hands.
    • On a piece of paper you should write your name, date, BiKi homepage address and a short text about taking risks. A sample text is available on the form.
    • Send the completed form and wait for verification. Usually takes from six hours to a day.

    When verification is passed, the user will receive a notification on the site, as well as an email.

    biki.com to create an account

     

    Deposit and withdrawal

    On BiKi you can buy cryptocurrency with a bank card. It can be a credit or debit card. You can even use cards payment systemslike Qiwi or YuMani. The main thing is that they should be supported by Visa or Mastercard. To buy crypto you should open the menu item "Fiat" and select "Buy Cryptocurrency". In the window that appears, there are three lines:

    • The amount of cryptocurrency to buy. In the drop-down list, select the name of the altcoin.
    • Payment amount. This is the current price of the selected coin plus commission.
    • Payment method. Here you must enter the card data.

    The transaction is made through Simplex partner payment gateway. It charges its own commission depending on the size of the transfer. For example, buying 1 ETH at $1,876 USD, the client will pay $68 for the service. The commission is built into the price in advance, so 1 ETH coin will cost the trader 1944 USD. This is an expensive way to exchange, but fast. There is a limit of $20,000 per transaction. That is, it will not be possible to buy even one Bitcoin at prices of winter 2020 - 2021. Another disadvantage - with the card you can not buy all the coins available on the exchange, but only the most popular, like Bitcoin, Ethereum, Litecoin or Tether. The time of credit - up to six hours. You can track the status of the transaction in your personal cabinet.

    BiKi transactions

    You can make a deposit in cryptocurrency. To do this, find the "Balances" item in the menu. It contains four types of accounts: main account, balance for OTC trading, contract account and balance for margin trading. Funds can be freely moved between them. The easiest way to make a deposit to the main account. It contains all the cryptocurrencies available on the site. Next to the name of each asset, there are "Deposit", "Withdraw" buttons and an exchange button shown by two arrows. For example, let's choose Ethereum and move on to deposit. On the left side of the page there is the current balance, available funds, as well as the number of frozen tokens. On the right there is a QR code. You can scan it with your mobile wallet and go straight to the transaction.

    Under the QR code there is a wallet address associated with the account. The exchange has generated it automatically. It is to this address you need to transfer funds from a third-party wallet. The minimum deposit amount is 0.005 ETH. As soon as the transaction receives confirmation from the blockchain, coins will be credited to the exchange. The same procedure will be followed when topping up any other cryptoassets on BiCi - the exchange creates an address, and the user sends tokens from a third-party storage to that address. Before withdrawing assets, the sending addresses must be added to a special list. You can add a wallet through the "Balance" menu, "List" section. A form will appear:

    • Currency. Here we choose the cryptocurrency of the wallet to be added. For example, Bitcoin or Ripple.
    • Specify the address. Coins will be sent to it. It can be found out from third-party storage and copied to BiKi.
    • Note. Here you can add information about the wallet. For example, the name of the exchange, if funds are sent to another site.

    Then press the "Add" button. The address will be saved in the system. Now you can go back to the balance and click on "Withdrawal", next to the token of interest. On the right, in the "Withdrawal address" field will open a drop-down list of wallets added by the user. You need to select one of them, add a note and the amount of the transaction. Then click "Withdraw". Funds will be deducted from the balance of the exchange and transferred to the specified details after confirmation of the network.

    Commission of the crypto exchange biki.com

    BKi does not take any commission for deposits. But if a trader uses a bank card to buy crypto through "Fiat" section, the payment will be added to the payment for the service of intermediary - payment gateway. Cryptocurrency deposits are free. Altcoin exchange and trading is covered by a commission of 0.15%. Notably, BiKi has the same fees for both maker and taker. That is, there is no advantage for sellers or buyers here. The rate of 0.15% can be called somewhat excessive compared to competitive platforms.

    BK commissions

    How do I get a discount on commissions?

    Biki users can get a discount on commissions thanks to the loyalty program. It has two tiers, "Regular" and "VIP. Each tier has seven levels. "Regular" is for customers with internal BIKI tokens on their balance. It's simple: the more coins a customer keeps, the bigger discount he gets.

    • From 1 to 3,000 BIKI on the account gives a discount of 0.1125%.
    • From 3001 to 10000 - the commission drops to 0.1087%.
    • From 10,001 to 50,000 - 0.1050%.
    • From 50,001 to 200,000 - 0.1012%.
    • From 200,001 to 500,000 - 0.0975%.
    • From 500,001 to 1,000,000 - 0.0937%.
    • From 1 million and up - 0.0900%.

    Discounts are the same and do not change depending on the maker or taker position. The VIP program is open to customers who not only store exchange tokens, but also meet monthly volume requirements. The minimum level is 500 BTC plus 300,000 tokens. The fee will be 0.0800% maker and 0.0950% taker. The maximum, seventh level is a volume of 20,000 BTC and a balance of 3,000,000 BIKI tokens. The commission is 0.0300% maker and 0.0650% taker.

    Withdrawal fees

    BiKi charges for withdrawals from cryptocurrency wallets. When withdrawing Bitcoin, the user will pay 0.0005 BTC. Ethereum withdrawals are covered by 0.005 ETH. Ripple - 0.1 XRP, Litecoin - 0.001 LTC, Tether (ERC20) - 3 USDT.

     

    BK Bonuses

    BiKi administration clearly does not like to give out bonuses or hold contests. If they do try to increase customer activity, it's mostly by announcing new token listings or updates in the staking section. Programs like these are set up in the same way. When a new altcoin is launched on an exchange, customers are given possible prizes for buying the asset and holding it. Winners receive additional coins.

    Referral program

    Right now Biki has no referral program. Users are not rewarded for inviting friends. The site spends commissions on redeeming its own tokens and cannot use them to reward active participants of "referrals". Perhaps a similar program will appear in the future. Some products hitting the steaking section on Biki sometimes offer bonuses for invited friends. For example, the Biki Smart Staking affiliate program rewarded customers. To do so, a user and his or her referral had to make a deposit of 1,000 USDT each. By completing the form, both participants received 2 USDT each.

    biki.com referral program

     

    Complaints about BiKi

    BKi is not yet studied by customers from the CIS, even though it supports the Russian language. Therefore, it is difficult to find reliable reviews of this platform on the Internet. There are more opinions in the English-speaking segment. Most often, users point out poor customer support and high credit card deposit fees.

    BK reviews.

    There are several negative reviews about the security of the platform. For example, on Reddit there was a complaint from a customer whose account was hacked, even with two-factor authentication. There has been no response from the administration. Therefore, it remains to be guessed whether there was a vulnerability on the site or whether the hack was due to a customer error.

    If there are any reviews about BiKi Crypto Exchange, we will definitely publish the information in social networks. Sign up so you won't miss anything!

    Please keep yourself informed about news and complaints. We copy the most valuable information to social networks, so please sign up!

     

    Crypto exchange regulation

    Legally the exchange is located in Singapore. The head office of the management company is also located there. Technical departments are located in China and Hong Kong. Singapore is known for its strict laws and penalties. Corporations opening here must comply with a number of regulatory requirements. The main legal entity representing the BiKi Exchange is Zhejiang Merit Interactive Network Technology Co. A user agreement has been written on its behalf, domain addresses have been registered, and authorization documents have been executed in Singapore.

    The company undertakes to fully comply with the laws of Singapore, as well as partnership agreements concluded between the authorities of this state and partner countries. As BiKi may attract customers from the European Union, it is required to comply with laws and combat money laundering, illegal transactions, and suspicious wallets. The firm has the right to freeze customer accounts if it deems their actions illegal. At the same time, clients are personally responsible for the legality of their actions, as well as for declaring and paying taxes in the country of residence.

    Read the terms of service at biki.com

    User Agreement biki.com

    The User Agreement is posted on the Exchange's official website. It is presented in English. Users agree to it by ticking the boxes when opening an account on the platform. According to the document, customers understand and accept all risks associated with trading, exchanging and investing in cryptocurrencies. The company disclaims any obligation to compensate for losses related to users' own mistakes. If the loss of funds is due to a technical failure of the exchange, the client must immediately report it to the support service. Any legal claims are accepted and resolved at the place of jurisdiction of the company - in Singapore. Users undertake to comply with the rules of the exchange and the laws of their country.

    biki.com user agreement

    Customer Service

    The quality of support on the cryptocurrency exchange has been slipping. But the platform is trying to support customers in several languages and on many platforms:

    • Facebook.
    • Twitter.
    • Telegram.
    • Reddit.
    • Medium et al.

    There is also a Russian-language community on VKontakte. You can get in touch with the support team through the chat on the site. Also, requests are accepted via e-mail: [email protected]

     

    Is BiKi a scam?

    BK - is a young but already large cryptocurrency exchange with a huge daily volume of a billion dollars. The CoinGecko portal gave the platform eight points in the "Trust Rating." The firm received three stars from Certified for cybersecurity. But in CoinMarketCap's rating, Biki.com has a poor score of just 2.5 out of ten. There are two reasons for this low score:

    • The exchange is closed to Americans. U.S. citizens are prohibited from registering an account on the platform. Usually fintech companies take such a step to avoid being affected by U.S. regulators and stricter KYC. This causes distrust among Western crypto-enthusiasts.
    • A listing of questionable tokens. At the beginning of the journey, BKi added everything to the auction. Including scam projects. As of 2020, listing requirements have been tightened. The exchange administration is doing a better job vetting partners and increasing admission fees.

    BiKi is a serious project with a solid investment. This is not a scam or fly-by-night. The exchange has many regular customers. Now the site is expanding and opening to Western clients. This means that regulation will only get more complicated and BiKi will improve reliability.

     

    Conclusion

    Cryptocurrency exchange Biki is suitable for novice investors with small volumes. Among the platforms with good liquidity, it has the lowest verification requirements. Therefore, if a trader does not want to provide documents, he will use the services of this platform.

    From the pluses - not bad commission on the exchange with a clear and accessible system of discounts. The variety of traded cryptoassets is pleasing. Of the minuses - weak support and poor translation of the Russian version. It is machine translation, and with skips of entire pages. Not enough support for fiat currencies and at least a couple of e-wallets. Commissions for depositing by card are too high, and the OTC section will not suit you if you do not speak Chinese.

    Exchange Commission
    20%
    Transaction speed
    20%
    Reliability
    20%
    Technical support
    20%
    1.0

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