BingX Blog

Your go-to source for BingX stories, company news, and product updates.

PayPal Partners With MetaMask to Offer Easy Way to Buy Crypto

Join the Trading Community: Learn & Earn with BingX. Today’s Cryptocurrency Headline According to a press release, PayPal will integrate its buy, sell and hold crypto services with MetaMask Wallet. Users will be able to choose to use their PayPal account to purchase Ethereum (ETH) within the MetaMask app while simplifying the process of transferring ETH from PayPal to MetaMask. Select U.S. customers can access the new offering beginning today as PayPal works to roll out the service to the rest of its U.S. customers over the next few weeks. BingX’s Bitcoin Chart Source: TradingView & BingX The U.S. Federal Reserve raised interest rates by half a percentage point on Wednesday and projected at least an additional 0.75 percent of increases in borrowing costs by the end of 2023. Bitcoin is down 0.39% over the last 24 hours and fell to an intraday low of $17,565.00. The largest cryptocurrency rose above the $18,000 price level today, but the bulls are not able to hold the price above
3 min

BingX Announces Its Verified Proof of Reserve With Mazars

BingX, one of the leading crypto exchanges, took the lead and published its Proof-of-Reserve report verified by Mazars, a trusted third-party auditor, offering BingX’s customers additional transparency and reassurance that their cryptocurrency holdings are collateralised, with collateralisation ratios of 132%, 122%, 186%, and 112% for BTC, ETH, USDC, and USDT respectively, exist on the blockchain and under the control of BingX. Mazars is a leading international audit, tax and advisory firm, with a presence in over 90 countries and territories. With rich experience in crypto sector, Mazars South Africa conducted a third-party verification with BingX and helped ensure only credible platforms are operating in the market. “Mazars takes pride in assisting leading exchanges such as BingX to bring transparency to the crypto industry. Our attestation services will allow BingX to be more transparent, so their users can feel safe and assured about their assets, and keep better track
4 min

Merkle Tree (Hash Tree) and How it is Related to Cryptocurrencies

The world of cryptocurrencies has been built thanks to countless technologies, ideologies or industries. Combination of cryptography, computer science, monetary policy or even psychology and philosophy could be all found in some context or another in the very core of Bitcoin and other cryptocurrencies. When it comes to technologies, ideologies or techniques used in the cryptocurrencies and in their inherent blockchain technology, the Merkle Tree is playing one of the leading parts since the inception of crypto. What it is, how is it connected to cryptocurrencies and why is it used? Those are some of the questions that the following paragraphs will answer. What is a Merkle Tree? Merkle Tree is a type of structure that is often used to quickly verify data integrity, mostly in a dataset. It is also known as a hash tree, which has, in most cases, binary implementations, with each node usually having two “child nodes.” In the cryptocurrency world, this structure is used to encrypt blockchai
11 min

What is zkEVM – EVM, types of zkEVMs, Polygon zkEVM, zkSync and Scroll

Our exploration of possible scalability solutions through layer-2 technologies on Ethereum continues. With the introduction of technologies such as StarkWare or zkSync, there is one major component of this sub sector that has not been properly explored. That is zkEVM, which stands for zero-knowledge Ethereum Virtual Machine. While we have already explored what zero-knowledge and zk-rollups are, we have not looked at the examples of these technologies that are EVM-compatible or EVM-equivalent. And that is the main topic of today’s article. What is EVM? As always, before we dive deep into more difficult and complicated topics, we will be starting with simple concepts, upon which we will be then building. That is one of the reasons why we need to introduce EVM, before we look at zk-EVM. EVM (Ethereum Virtual Machine) is a mechanism which allows the Ethereum blockchain to execute the transactions on its network. It consists of predetermined rules and sets of rules which state which transac
12 min

What is ZKSync – Zk-Rollups, Ecosystem, Team, and Tokenomics

With increasing popularity of cryptocurrencies, whether that is thanks to DeFi, NFTs, Web3 or Metaverse, many major blockchains upon which these subsectors are built can get congested. High fees, slow transactions or technical hiccups are just a few of the problems that can arise when the demand for usability of some blockchain sharply rises. This is something that was seen for instance with Ethereum in the last few years. Incredibly high gas prices have often discouraged people from using this blockchain or dApps built on it. However, this also gave a reason for new projects or solutions to be created. And most of them have tried to develop on a second layer, such as zkSync. What is layer-2? Before we dive into zkSync, first the introduction of layer-2 solutions and what they are is necessary to provide better context. The term layer-2 describes solutions, platforms or services that are built on top of the first layer. The first layer or layer-1 is usually the blockchain itself such a
17 min

BingX Is the First to Initiate Elite Copy Traders Program for Crypto Copy Trading

BingX, the world’s leading social trading crypto exchange, is excited to introduce its Elite Copy Traders Program. With this new tiering system, BingX wishes to provide global traders with more opportunities and offer our users better services. Elite Copy Traders Program is a trader incentive copy trading program launched by BingX, which all traders are welcome to apply for. Currently, BingX Elite Copy Traders Program Tiers are Bronze, Silver, Gold, and Diamond. Bronze is entry-level. If traders wish to upgrade to the next levels, they need to meet the criteria which include minimum requirements on total assets, number of copiers (or total value of copy trading), and risk score. The Tier of trader accounts will be updated every Monday 00:00(UTC+8), and traders can enjoy the benefits and privileges of the latest tier after that. BingX aims to fuel elite traders with steady cashflows to help them in polishing their trading strategies. First of all, higher tier traders are able to e
3 min

Bull vs. Bear Markets and Trading Strategies

The ‘Bull’ and The ‘Bear’ – the two most popular avatars for financial markets – are used to represent the general market sentiment or price movement ie rising or falling. In a ‘bull’ crypto market, the price of the cryptocurrency is rising, and investors and traders are feeling confident to buy the coin with the hopes of selling it at a higher price in the future.  In a ‘bear’ crypto market, the price of the crypto asset is falling and the general bias for investors and traders is to sell the coin to minimize loss. In a sustained bear market, many traders panic and close their positions. Every cryptocurrency and asset for that matter goes through a cycle of bull runs and bear runs, and to be a successful trader, you’ll need to know how to tackle both beasts. In the rest of this piece, we’ll discuss examples of significant bull and bear events, how you can predict each market condition, and strategies to trade bull and bear ma
15 min

BingX is Travel-Rule Compliant in South Korea

BingX, the leading social trading exchange, is excited to announce its cooperation and compliance with South Korea’s Travel Rule. BingX has signed a contract to use the CODE solution in the process of transferring virtual assets. With the application of the CODE solution, the limit of under 1 million won by one time, which was applied before the transfer of virtual assets to external Korean exchanges, will be lifted. Starting with Bithumb, Korea’s largest exchange, CODE Solution member exchanges will be added sequentially. After that, we will do our best to facilitate the deposit and withdrawal process that complies with the travel rules. BingX provides an excellent service for novice traders to observe and learn the trades from more experienced professional traders. Since the launch of the service, it has consistently ranked in the top 5 in derivatives trading volume and was selected as the Best Crypto Broker/Exchange in Tradingview’s 2021 Broker Awards. BingX is a c
3 min

BingX Introduces Infinity Grid Robot for Crypto Auto Trading After Its Zero-Fee Policy

BingX, the world’s leading social trading crypto exchange, introduced Infinity Grid for Cryptocurrency Spot Trading, aiming to help more users benefit in volatile markets through technology innovation. While spot grid places orders at fixed price intervals, the spot infinity grid does so at a preset percentage interval without the upper price bound (hence the name). As a premium strategy derived from spot grid, infinity grid is designed to avoid “missing out” on the trending market when crypto prices run high. With infinity grid, traders do not have to worry about the price would breach the upper price bound as the markets go bullish. Whenever the infinity grid sells high, the appreciated amount exceeding initial value of the coin will be sold out. The total amount of assets maintains its equivalent initial value as the infinity grid “Buy Low and Sell High” 24/7. BingX grid trading provides two methods: “Auto” or “Manual”. Users could let the infinity grid automatical
3 min

What is Klaytn (KLAY) – Team, Partnerships and Tokenomics

While we have seen a Metaverse boom in the year 2021, this year has been relatively quieter. It seems that right after the raging bull market stopped, the buzzwords such as Metaverse, gamification, DeFi, NFTs and many others, which are inherently connected to the cryptocurrency world, have since slowed down. That however does not mean that there are no interesting projects working on the development of the above-mentioned sectors. And today’s coin, Klaytn (KLAY), wants to improve several of them at the same time. What is Klaytn (KLAY)? Klaytn (KLAY) is a public blockchain that is aiming to improve the experience connected to the Metaverse, NFTs and gaming. First and foremost, it is designed to be working as a platform for real-world Metaverse solutions. It mostly wants to serve developers, who are interested in creating new experiences in the Metaverse, but do not know how or where to start. This encompasses everything from virtual goods, virtual realities, play-to-earn crypto ga
10 min

BingX Becomes the First Crypto Exchange to Offer Copy Trading Subsidy Vouchers

BingX, the leading crypto social trading exchange, is excited to be the first in the industry to introduce copy trading subsidy vouchers. These help to cover trading losses for users. Copy trading allows inexperienced users to automatically copy positions opened and managed by other selected individuals. This enables users to trade beyond their level of expertise while empowering proficient traders to earn extra income by helping copiers. As the industry’s leading social trading exchange, BingX provides a robust environment where both copiers and traders can gather, communicate, and profit. The new subsidy vouchers for copy trading are designed for its users to protect them from potential losses. As long as the user activates the copy trading subsidy vouchers, BingX will compensate any losses in the copy transaction (within the denomination of the card and coupon). This voucher works as a safety net and allows users to enter and exit positions with popular coins like BTC, ETH, MATIC, L
2 min

BingX Donates NT$3 million to Assist in Taiwan Earthquake Relief Efforts

BingX, the leading social trading crypto exchange, announced a donation of NT$3 million to assist in earthquake relief efforts in Taiwan. A 6.8 magnitude earthquake at a depth of 7km hit the South-eastern part of Taitung and Hualien, with aftershocks felt across the whole of Taiwan and disasters reported in the Huadong area. The earthquake derailed train carriages, causing a convenience store to collapse and trapping hundreds on mountain roads. It was also reported that one person had died and 146 were injured by the quake. We immediately set up a donation account and transferred NT$3 million to assist in relief efforts. “Since 2019, BingX has been actively supporting charitable organisations and helping disaster relief efforts in Taiwan and around the world,” said Josh Lu, director of BingX Taiwan. In addition to contributing to social corporate responsibility, this donation also seeks to contribute to the reconstruction after the Hualien earthquake. In early September this year, Bing
2 min