Pionex, a Singapore-based cryptocurrency exchange launched in 2019, operates under the MSB license from US regulatory authority FinCEN. The platform, which witnesses a daily trading volume exceeding USD 30 million, offers manual, leveraged, and automated cryptocurrency trading across over 300 pairs.
In the recently published Pionex review by TU experts, there are several noteworthy aspects to highlight. Firstly, the exchange boasts a substantial user base of over 100,000 traders worldwide, indicating its widespread adoption. Additionally, Pionex stands out for its integration of 16 pre-built trading bots, providing users with automated trading capabilities. The exchange has experienced rapid growth in the Asian market and has managed to establish impressive liquidity through its connections with leading international exchanges.
Advantages and disadvantages of Pionex
Traders Union offers a detailed evaluation of the advantages and disadvantages of utilizing the Uphold trading platform.
- The required minimum deposit is equivalent to USD 1 in cryptocurrency.
- Reasonable fees, even for small trading volumes.
- Freedom in trading strategies, including manual or bot-assisted trades.
- A broad range of crypto assets available, including for margin trading.
- High-level security ensured by US regulatory license and cold wallet fund storage.
- Variety of trading bots available at no extra charge.
- Provides enhanced security through 2FA (two-factor authentication).
- Lack of options for depositing and withdrawing in fiat currencies.
- Referral rewards are only provided to users with a trading volume of USD 20,000 or above.
- Customer support responses need more detail and clarity.
Expert review of Pionex
TU experts thoroughly analyze Pionex, a new cryptocurrency exchange with free trading bots and a user-friendly interface. Note these important details:
- Pionex provides free trading bots that are built into the platform, making automated trading accessible to all users, regardless of their experience.
- The exchange combines liquidity from powerful platforms like Binance and Huobi Global, allowing the bots to operate continuously, opening and filling orders 24/7.
- Users can also engage in manual trading with or without leverage, choosing from over 300 trading pairs involving popular cryptocurrencies such as BTC, USDT, ETH, BNB, and USDC.
- Pionex offers nearly 100 pairs with USDT for margin trading.
- The exchange supports mobile apps and a web platform, with the web version providing enhanced functionality and offering two modes: standard and Pro.
- Pionex operates as a regulated crypto exchange, holding the MSB license issued by FinCEN, a respected US regulatory authority.
Analysis of the main features of this crypto exchange
According to TU analysts, Pionex has been evaluated based on several criteria. Here are the summarized results:
- Overall score: 2.98/10
- Execution of orders: 3.4/10
- Investment instruments: 3.04/10
- Withdrawal speed: 3.34/10
- Customer Support work: 2.82/10
- Variety of instruments: 3.56/10
Top alternatives to Pionex
TU researchers recommend the following alternatives to Pionex:
- Bybit: Known for its speed and dependability, this Bitcoin derivatives exchange enables customers to trade contracts with high leverage.
- OKEx: OKEx, a well-known cryptocurrency exchange, provides futures trading, spot trading, and services for digital wallets.
- Binance: Offering a broad range of cryptocurrency trading choices, Binance is the largest cryptocurrency exchange in the world based on trade volume.
- Huobi Global: A reputable exchange for digital assets, Huobi Global provides a safe environment for trading cryptocurrencies.
- KuCoin: Popular due to its user-friendly platform and reputation for listing various cryptocurrencies, KuCoin is a well-known exchange.
Additionally, TU experts have published a detailed review of LedgerWallet on their website for traders interested in digital wallets.
In conclusion, Pionex is a Singapore-based cryptocurrency exchange that has gained popularity due to its extensive features and user-friendly interface. With its integration of built-in trading bots and access to over 300 trading pairs, Pionex offers a range of manual and automated trading options. While it has certain limitations, such as the lack of fiat currency options and the need for improvement in customer support, it remains an attractive platform for traders. For more detailed information, visit the Traders Union website.