Crypto exchange Bitunix is growing rapidly as it offers no-KYC futures trading with up to 125X leverage. From this foundation, there are many advantageous features for users to take advantage of, including low fees that can be reduced further through a tiered system, a mobile app for on-the-go trading, rewards offered through various campaigns, a console that can incorporate multiple synchronized trading windows, and robust transparency around proof of reserves.
After launching in October 2022, crypto derivatives exchange Bitunix now has users in the millions, and is processing daily trading volumes above $1 billion. Growth has been rapid but what has driven this expansion? To get a handle on why Bitunix is performing so well, let’s summarize the top 5 features of Bitunix that you should know about right now.
Before we start on that list though, let’s separately mention the two major crypto trading features that stand apart from the rest in their importance, and which are bringing new users to the Bitunix platform.
First, you can use Bitunix without a KYC process, which means you can set up an account, hook up a wallet and deposit funds, and start trading very quickly. And second, Bitunix allows users to margin trade with leverage up to 125X (depending on the coin), so you can take long and short positions, and control larger positions than if you were just holding a spot position.
Always be aware though that trading with leverage comes with additional risks: just as gains are multiplied according to your leverage level, risks are multiplied too, and additionally, the possibility of liquidation is thrown into the mix too. As crypto is so volatile, it usually makes sense to keep leverage low, and for more on this topic please check How to Use Bitunix Leverage Trading: A Comprehensive Guide.
Top 5 Features of Bitunix
When it comes to useful Bitunix features, 2024 has brought increased attention with new users coming on board, and we’ve already highlighted the core advantages of the platform. Next, let’s look at the best Bitunix tools, features and functions that have been incorporated on top of that foundation, and at why they’re so beneficial for users.
Low fees and VIP Levels
When you’re trading on any exchange you have to pay transaction fees, and Bitunix offers low costs with a tiered system for reducing them still further.
The platform operates using VIP levels going from 0 to 7, and when you first set up your account you’ll be a regular user on level VIP 0, which means if you’re trading futures, you’ll pay 0.02% maker fees, and 0.06% taker fees. To clarify, maker fees are applied when you place an order that adds liquidity to the order book, as happens when you place a limit order that isn’t immediately filled, while maker fees are applied when you place an order that removes liquidity from the order book, as happens when you fill an order that is already there.
At the next rank, VIP 1, your futures trading maker fees stay the same, but the taker fees drop to 0.05%, and all the way up at the top level, VIP 7, fees drop to 0.006% and 0.03%, for maker and taker orders, respectively.
As for how to attain higher VIP levels, this process depends on either your cumulative trading volumes, or the amount of funds that you deposit to your trading account. To get VIP 1 doesn’t require a huge outlay, with a deposit of 1,000 USDT required, while the level above that requires 10,000 USDT, although keep in mind that you don’t have to actually use all those funds, they simply have to be deposited.
By the way though, at the top level, VIP 7, you’ll need to be a certified crypto high roller as–going down the deposit route–it requires a 3 million USDT deposit.
Mobile App for On-the-Go Trading
The crypto markets are non-stop 24/7 and volatility is high, so on the one hand, it’s good to get away from the screens sometimes and touch grass, but at the same time, it’s handy to have access to your trading account even when you’re on the go, perhaps especially when a bull market enters its most parabolic phase.
To that end, an advantage of using Bitunix is that you can download the platform’s mobile app, which includes all the full features of the desktop experience. On the Apple App Store, the mobile version can be downloaded now, but note that if you need the Android version, it’s currently not available in the Google Play Store. However, you can download the Android APK file directly from the Bitunix site.
According to Bitunix, the mobile app is currently in the process of improvement, suggesting that it will be available on the Play Store in future, and right now, although the mobile version is fully functional, it feels like it hasn’t yet been fully optimized for mobile.
On the whole though, mobile versions–which are increasingly necessary for many traders–are up and running, and improve the overall user experience.
Bitunix Rewards and Campaigns
In addition to locking in profits from trading, there are multiple ways for users to earn additional rewards on Bitunix.
First up, Bitunix has a specialized Reward Center that includes a regularly updated daily task. Also, there is currently a Referral Campaign in place, in which users are provided with a referral link and earn a 20% commission on all referee trades, meaning trades by new users that first sign up for the platform through the referral link.
Then there’s the Welcome Bonus campaign for new users, which offers rewards up to a possible 5,500 USDT in return for completing tasks such as depositing funds, and accumulating trading volume, with a reward also–in the form of what’s called a Mystery Box–for completing KYC.
And finally, there are seasonal campaigns, the latest of which, for example, was a Halloween Lottery Campaign that offered a prize of up to 47,000 USDT.
Overall then, there are constant opportunities to pick up additional gains through Bitunix campaigns, and it’s worth keeping tabs on what’s on offer.
Multiple Synchronized Trading Windows
When you’re using Bitunix–and to try the platform, you can sign up here–you’ll want to have the best possible interface in order to keep track of and control your trading positions in real time. That can get complicated if you’re trading with leverage across multiple assets, and possibly also in both directions, since Bitunix has a Hedge Mode allowing traders to take both long and short positions at the same time.
However, helping out in this regard, Bitunix provides an advanced capacity to operate across multiple trading windows. Users can set up the console with up to eight different windows, and where Bitunix differs from other platforms is that these windows can be synchronized with each other.
Different pair positions can be tracked simultaneously, positions can be managed, and there’s a Market Order Panel that can be placed on charts, allowing orders to be rapidly deployed. Overall, this creates an efficient, visual-focused trading experience that quickly starts to feel intuitive, and makes it easier to keep on top of your positions.
If you’re keeping your trades simple and you’re focused on trading one asset at a time, you might not need all this on the console, but the more complex your trading gets, the more valuable this kind of function becomes.
Security and Proof of Reserves
When you’re interacting with any crypto-related platform, security and user safety are always a concern, and that extends beyond DeFi to centralized platforms too, as they are vulnerable to mismanagement and systemic risks. Lessons appear to have been learned since 2022–when the collapse of FTX and others plunged the crypto space towards deep bear market lows–and Bitunix looks to be taking these issues seriously.
This is especially apparent in Bitunix’s commitment to transparency and robustness around proof of reserves, as the platform states that all user assets are backed 1:1, and it provides a method for users to specifically verify their own assets, including access to an open-source tool for that purpose.
On its proof of reserve page, Bitunix regularly updates its reserve ratio across different assets, and it currently displays very secure-looking figures, with a BTC reserve ratio of 409%, an ETH reserve ratio of 231%, and a USDT reserve ratio of 150%.
Bitunix assets can also be tracked on crypto data platform DeFiLlama, which currently shows total asset holdings valued at over $123 million.
When it comes to overall security ratings beyond just asset reserves, Bitunix has received a BBB rating on crypto cybersecurity platform CER, and a Trust Score of 8/10 on crypto data platform CoinGecko, all of which, overall, indicates a good level of security for traders. For a fully in-depth review of Bitunix’s security features, please take a read through this previous article: Is Bitunix Safe? Evaluating Security Measures and User Protections.
That wraps up this summary of the top 5 features of Bitunix, but keep in mind that there are plenty of other positives on the platform–including deep liquidity and minimal slippage, 24/7 customer support, and a wide range of tradable tokens–and it’s worth looking out for further Bitunix updates as the platform continues to develop and evolve.
