BingX is a fast-growing exchange that launched in 2018. By October 2025, it reports around $800M–$1.5B daily trading volume depending on CoinGecko vs CoinMarketCap stats. It’s not as big as Binance or Bybit, but it has carved a niche with copy trading, social trading features, and a strong presence in emerging markets like Africa, Southeast Asia, and Latin America.
For degens, BingX feels like a mix of a trading platform and a social app. It’s fun, but some question its depth of liquidity and long-term trust.
📜 Background & Reputation
BingX started in Singapore in 2018 and quickly expanded into international markets. Instead of competing head-to-head with Binance on liquidity, it leaned into copy trading — letting users follow pro traders or influencers and automatically mirror their trades. This made it attractive for beginners who don’t want to manage charts themselves.
Reputation-wise, BingX is seen as a mid-tier CEX. Not a scam, not a top-3 giant either. It’s legit enough for many traders, but cautious users worry about its relatively short history compared to Kraken or Coinbase.
🚀 Features and Offerings
BingX is known for:
- Copy Trading: Its flagship feature, with thousands of “strategy providers” that users can follow.
- Spot and Futures: Support for hundreds of coins, leverage up to 150x on some pairs.
- Earn Products: Savings, staking, and dual investment products.
- Demo Trading: A beginner-friendly feature letting users practice with fake funds.
- Mobile App: Strong adoption in regions like Africa and LatAm, simple design and social trading features.
🛡️ Safety and Trust
BingX hasn’t faced a major hack so far, which is good. It claims to hold most funds in cold storage and offers standard protections like 2FA and withdrawal whitelists.
It does not have the same proof of reserves transparency as Binance or OKX, which is a weak point. Regulation-wise, it operates under licenses in Lithuania, Canada, and Australia, though its global compliance footprint is lighter than Coinbase or Kraken.
User reviews are mixed. Many praise the copy trading system and easy UI. Others complain about slippage on trades, high withdrawal fees, and occasional freezes during volatility.
🎭 What the Users Say
Positive feedback:
- “Copy trading is fun, I made profits just following pros.” — App Store review
- “Super easy to use, even for beginners.” — Google Play feedback
Negative feedback:
- “Withdrawals are too slow and fees are high.” — Trustpilot
- “Copy trading doesn’t always work as promised, lots of losing traders.” — Reddit
- “Liquidity is shallow compared to Binance.” — community forum post
🌍 Who Actually Uses BingX?
BingX has gained traction in emerging markets — Africa, Southeast Asia, and Latin America — where social trading appeals to new entrants. It’s especially popular among beginners who don’t want to trade manually.
In Western markets, it’s less known, used mainly as a side exchange or for testing copy trading strategies.
📊 Real Examples
- In 2023–2024, BingX surged in popularity on TikTok and YouTube, where influencers shilled copy trading to beginners.
- During market volatility in 2024, some users reported frozen withdrawals, though the platform recovered quickly.
- In 2025, it continues to market heavily in Africa and LatAm as “the exchange for everyone.”
🎰 Should a Degen Use It?
BingX is like a side table at the casino where you can watch another player and copy their moves. Sometimes they’re on fire, sometimes they bust, and you go down with them.
If you want to experiment with copy trading or need a beginner-friendly platform, BingX works. But if you’re serious about deep liquidity, early listings, or whale-sized orders, stick to bigger venues.
🏁 Final Degen Verdict
BingX is a social-trading playground. It’s safe enough for small plays and fun to experiment with copy trading, but it doesn’t have the transparency or liquidity to compete with top-tier exchanges.
Use it as a side quest exchange, not your main base.
WAGMI — if you treat copy trading as entertainment, not guaranteed alpha.
