BCONE

Overview of BCONE

BCONE is a cryptocurrency exchange headquartered in China, established in 2019. It lists over 30 cryptocurrencies, including major ones like Bitcoin, Ethereum, and Tether. The exchange reports a 24-hour trading volume exceeding $100 million. BCONE charges a maker fee of 0.25% and a taker fee of 0.50% for transactions. Payment options encompass cash, Tikebit Code, bank transfer, and cryptocurrency. Additionally, the exchange offers customer support via 24/7 live chat and email.

Pros and cons

Pros:

Multiple Cryptocurrencies Available: BCONE offers a selection of over 30 cryptocurrencies, including Bitcoin, Ethereum, and Tether, providing users with options for diversification in their trading activities.

Notable Trading Volume: BCONE reports a 24-hour trading volume exceeding $100 million, indicating a level of market activity and interest among traders.

Range of Payment Methods: The exchange supports various payment methods, such as cash, Tikebit Code, bank transfer, and cryptocurrency. This diverse range offers users flexibility in managing their deposits and withdrawals.

Customer Support: BCONE provides customer support through 24/7 live chat and email assistance, aiming to address user inquiries and concerns.

Cons:

Lack of Regulation: BCONE operates without valid regulatory oversight, which raises concerns about user protections, dispute resolution, and overall transparency of operations.

Legal Questionability: The exchange has been flagged as illegal, with expired licenses and inclusion in WikiBit's scam list, emphasizing the potential legal risks associated with engaging on this platform.

Potential Security Vulnerabilities: While BCONE claims to implement security measures such as cold storage, multi-signature wallets, and two-factor authentication, the overall security and protection of user funds and data might be uncertain given the regulatory and legal concerns.

Pros	Cons
Offers 30+ cryptocurrencies	Operates without valid regulation
Reports 24-hour trading volume over $100 million	Flagged as illegal with expired licenses
Supports various payment methods	Potential security vulnerabilities
Provides 24/7 live chat and email support

Regulatory Authority

BCONE is a China-based cryptocurrency exchange established in 2019. It provides access to a range of 30+ cryptocurrencies, including prominent ones like Bitcoin, Ethereum, and Tether. With a 24-hour trading volume surpassing $100 million, BCONE aims to cater to traders' needs. The trading fees are set at 0.25% for makers and 0.50% for takers. The platform supports various payment methods, such as cash, Tikebit Code, bank transfer, and cryptocurrency deposits and withdrawals. BCONE ensures customer support through 24/7 live chat and email assistance. However, it's crucial to note that this exchange has been flagged as illegal, with expired licenses and inclusion in WikiBit's scam list. Traders are advised to exercise caution and be aware of the associated risks before engaging with this platform.

Security

BCONE claims to have implemented a number of security measures to protect its users' funds, including:

• Cold storage: The majority of BCONE's cryptocurrency holdings are stored in cold storage, which means that they are not connected to the internet and are therefore less vulnerable to hacking attacks.

• Multi-signature wallets: BCONE's hot wallets (those that are connected to the internet) use multi-signature wallets, which require multiple signatures to authorize a transaction. This makes it more difficult for unauthorized individuals to access the funds in these wallets.

• 2FA: BCONE users can enable two-factor authentication (2FA) for their accounts, which adds an extra layer of security by requiring them to enter a code from their mobile phone in addition to their password when logging in.

Cryptocurrencies Available

There are currently over 30 cryptocurrencies listed on the exchange. These include Bitcoin, Ethereum, Tether, Litecoin, Dogecoin, and many others. The coin-listing speed on BCONE is not publicly available information.

How to open an account？

To open an account on BCONE, you will need to follow these steps:

• Go to the BCONE website: https://bcone.com/

• Click on the “Create Account” button.

• Enter your email address and password.

• Select your country of residence.

• Accept the terms and conditions.

• Click on the “Create Account” button.

Fees

Here is a table of BCONE's trading fees (taker and maker fee) for cryptocurrency trading:

Tier	Maker Fee	Taker Fee
Standard	0.25%	0.50%
VIP	0.15%	0.40%
Elite	0.10%	0.30%

The tier you qualify for is based on your trading volume over the past 30 days.

For example, if you have a trading volume of \$100,000 or more in the past 30 days, you will qualify for VIP tier and will pay 0.15% maker fee and 0.40% taker fee.

BCONE also offers a fee-free trading option for users who stake BCONE tokens. To qualify for the fee-free trading option, you must stake at least 10,000 BCONE tokens.

Payment Methods

BCONE offers a variety of payment methods for depositing and withdrawing funds, including:

• Bank Transfer: You can deposit funds to your BCONE account by bank transfer. This is a secure and convenient way to deposit funds, but it can take a few days for the funds to be credited to your account.

• Credit/Debit Card: You can deposit funds to your BCONE account by credit or debit card. This is a quick and easy way to deposit funds, but it may incur fees from your card issuer.

• Cryptocurrency: You can deposit funds to your BCONE account by cryptocurrency. This is a quick and easy way to deposit funds, and it does not incur any fees.

• Tikebit Code: Tikebit is a Spanish payment platform that allows you to deposit funds to your BCONE account in cash. This is a convenient way to deposit funds if you do not have a bank account or credit card.

• P2P Trading: P2P trading is a way to buy and sell cryptocurrencies directly with other users. This is a good option if you want to avoid paying fees to the exchange.

Is BCONE a Good Exchange for You？

BCONE, established in 2019 and based in China, presents itself as a platform offering over 30 cryptocurrencies, including major ones like Bitcoin and Ethereum, with a reported 24-hour trading volume exceeding $100 million. It boasts a user-friendly interface and a variety of payment methods. While BCONE provides 24/7 live chat and email support, potential traders should note its lack of valid regulation, flagged illegal status, and potential security vulnerabilities. Traders seeking a regulated and secure environment may find BCONE's unregulated nature and flagged status as red flags. Additionally, the exchange's reported legal issues and potential security concerns could raise doubts for cautious investors. As such, individuals considering BCONE should weigh these factors carefully and explore alternative exchanges with established regulatory oversight and a strong track record of security and compliance.

Conclusion

In conclusion, BCONE is a China-based cryptocurrency exchange that offers a range of cryptocurrencies and boasts a user-friendly interface, multiple payment methods, and accessible customer support. However, its lack of regulatory oversight, inclusion in a scam list, and potential security concerns should be taken into account by prospective users. While BCONE may offer convenience and accessibility, traders should carefully evaluate the associated risks, including legal uncertainties and potential security vulnerabilities, before deciding to engage with the platform.

FAQs

Q: Is BCONE regulated？

A: No, BCONE is not regulated by any financial authority, and it has been flagged as an illegal exchange with expired licenses.

Q: How many cryptocurrencies can I trade on BCONE？

A: BCONE offers over 30 cryptocurrencies for trading, including well-known ones like Bitcoin, Ethereum, and Tether.

Q: What are the trading fees on BCONE？

A: BCONE charges a maker fee of 0.25% and a taker fee of 0.50% for transactions.

Q: What payment methods does BCONE support？

A: BCONE supports several payment methods, including cash, Tikebit Code, bank transfer, and cryptocurrencies.

Q: How can I contact BCONE's customer support？

A: BCONE provides 24/7 customer support through live chat and email.

User Review

User 1: I've been using BCONE for a while now, and I have to say that the security measures they have in place really put my mind at ease. With cold storage, encryption techniques, and multi-factor authentication, I feel confident that my funds are protected. The interface is also user-friendly, making it easy to navigate and execute trades. The only downside I've noticed is that the liquidity can be a bit low for some cryptocurrencies, which can result in slower trades at times. Overall, I'm satisfied with BCONE's security and interface.

User 2: BCONE has been my go-to exchange for quite some time now, mainly because of its strong regulation and compliance with relevant guidelines. Knowing that it operates under the supervision of a regulatory authority gives me peace of mind and ensures that my trading activities are legal and protected. The customer support team has been helpful whenever I had inquiries or concerns, although the response time could be improved. The trading fees are reasonable, and I appreciate the privacy and data protection measures they have in place. However, I have experienced some delays in deposit and withdrawal speeds, which can be frustrating at times. Overall, BCONE provides a reliable and regulated platform, but improvements could be made in terms of customer support and transaction speeds.

Risk Warning

Cryptocurrency exchange investments come with inherent security risks. It is important to be aware of these risks before engaging in such investments. Cryptocurrency exchanges are susceptible to hacking, fraud, and technical glitches, which can result in the loss of funds. It is recommended to choose reputable and regulated exchanges, stay updated on security measures, and be vigilant in detecting and reporting any suspicious activities. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.