BingX's 5-year journey: Looking back at success and great strides
BingX is a familiar exchange in Asia. During the past 5 years, BingX has recorded many impressive achievements, establishing its leading position in the cryptocurrency market. In this article, let's review the 5-year journey of this platform 
Introducing BingX and its 5th birthday
Context is born
The destiny blossomed in 2018, when the BingX founding team was still operating in the traditional financial and Internet industries. However, the attraction and boom of cryptocurrency has prompted them to participate in this global revolution. At that time, they had experienced many contemporary trading products and realized that these platforms were hardly friendly to users with little experience and simply let customers trade without facilitating them. opportunity to interact and learn from each other and from experts. That's when Bingbon was born in Taiwan, with the ambition to be the first cryptocurrency exchange that can help people better understand this market through simple copy trading. On November 18, 2021, Bingbon officially changed its name to BingX.
The meaning of the name “BingX” is also very special. “Bing” represents each step the exchange has gone through and “X” symbolizes the connection between users and traders. Together, they created the BingX brand of today.
To date, BingX is not only one of the first centralized exchanges to offer copy trading services, but also a leading social trading ecosystem. Users can find a variety of trading services including spot, derivatives, copy and grid trading on the platform. BingX is active in more than 100 countries and territories, providing services to 5 million users.
What makes BingX stand out?
With unique services and experiences, BingX has attracted the attention of millions of users. So what makes this platform stand out?
BingX provides a modern, convenient and versatile trading platform. From spot trading to derivatives, from fiat to copy trading, it's all available on a single interface. Users are allowed to access and transact anytime, anywhere with just a device connected to the internet. BingX's flexibility and versatility help customers easily manage their asset portfolios.
BingX places special emphasis on risk management. With an advanced control system, BingX helps users minimize the risk of losing safety in transactions.
BingX's team of experts is one of the strengths of this platform. Carefully selected experienced trading experts not only provide valuable knowledge but also help users better understand the market and make the right decisions in trading.
BingX also stands out with transparent statistics. Users can easily track and analyze market trends, before making investment decisions.
The BingX community benefits significantly from the copy trading tool. Users can learn from trading experts and copy their methods, providing profitable opportunities for both newbies and seasoned traders. Furthermore, customers can now use this product freely without monthly subscription fees, just paying a small transaction fee after opening a position.
In addition, BingX also has an attractive referral commission program to reward users for referring friends to trade. BingX currently shares 25% of trading profits with those users, motivating and encouraging engagement within the community.
5th birthday
May 2023 marks BingX's 5th birthday, an important and meaningful milestone for the platform. At the same time, this is also the time BingX wants to express its gratitude to users who have accompanied and trusted the platform for the past 5 years.
BingX's memorable 5th birthday
"Gratitude Month" has kicked off with a series of exciting and exciting trading activities and a total prize of up to 10 million USD, accompanied by countless valuable gifts and incentives. In addition, BingX will organize online workshops and seminars to disseminate knowledge about crypto, investment and blockchain to users.
Not only stopping at online activities, BingX also organizes many offline events globally. BingX representatives will meet and interact with users in Spain, Russia, Türkiye, Vietnam, Mexico and Argentina. This series of activities aims to create a strong connection between the exchange and the global BingX community.
Alex Nguyen - BingX representative spoke excitedly: "The offline chain marks a strong transformation of BingX. Looking back on our 5-year journey, we feel very proud and this development has been greatly contributed by our users and close partners.”
Elvisco Carrington - Director of Communications & PR of the exchange added: "The journey that BingX has gone through from its inception to its current success cannot be without contributions from users. The continuous support of customers is the driving force behind BingX's innovation, growth, and future. We are grateful for the unwavering support of our customers over the past five years. Together, we will continue to create many more positive impacts."
Looking back on the past journey
BingX's mission
BingX always puts customers first and innovates based on the following set of core values:
Innovation: BingX constantly innovates products and services to meet the increasingly diverse needs of customers. The floor is always looking for innovative approaches and providing convenient trading tools, bringing the best trading experience to users.
Trustworthy: Trust is one of the most important factors that BingX puts first. The exchange is committed to controlling risks at the highest level and protecting users comprehensively. BingX always adheres to the highest standards and never violates security or manipulates the market.
Friendly: BingX provides a safe, user-friendly platform where investors can easily manage their assets and diversify their portfolios.
Social: BingX is not only a cryptocurrency exchange, but also a social network that connects professional traders and those new to cryptocurrency. BingX creates an open environment for people to interact, learn and share knowledge.
A journey of maturity worth being proud of
A journey of maturity worth being proud of
2018 - BingX was "born" and raised Series A capital
Founding BingX
Completed Series A funding round worth 15 million from angel investors
Launched version 1.0 and launched the first futures product
2019 - "Received" by the law
Deploy copy-trading products
Won Estonian (European) MTR license and US MSB license
2020 - Global expansion
April 2020: Acquired Australian DCE license
May 2020: Launch of Coin-Margined Standard Futures and Perpetual Futures services
July 2020: Strategic cooperation with SlowMist, upgrading platform security system
September 2020: Join hands with Moonpay to provide support for more than 10 fiat currencies
December 2020: Building partnerships with XanPool and Banxa to improve global fiat-to-crypto conversion services
Year 2021 - Lightning steps
April 2021: Start supporting spot trading with more than 300 asset types on the platform
July 2021: Established cooperation agreement with Advcash, providing fiat services in Ukraine and Kazakhstan
August 2021: Partnership with Paxful, expanding fiat-to-crypto infrastructure
September 2021: Integrating Chainlink price and Trading View, connecting copy-trading with third parties via API service; Launch carbon-free and afforestation projects to help mitigate climate change; Partnership with Coinify expands into new European markets
November 2021: Officially launched the CopyTrade Pro feature
2022 - Innovate to break through
January 2022: Received the "Best Crypto Exchange" award in 2021 from TradingView
February 2022: Obtained MSB license in Canada
March 2022: Available on CoinGecko; Released Copy Trading Grid function
April 2022: Licensed to operate in Lithuania; Start the F-NFT project, helping users profit from NFTs even with limited capital
May 2022: Complete audit with CertiK; Sponsor the Consensus 2022 event
June 2022: Deploy Futures Grid product and upgrade Spot Grid
September 2022: Establishment of BingX charity fund worth 10 million USD; Issued the world's first copy-trading voucher; Launched Bug Bounty program on Hackenproof
11/2022: Present at TOKEN2049 LONDON as an official sponsor; Establishment of a relief fund for partners affected by the collapse of FTX
December 2022: Verification certificate certified by Mazars announced; Launch of Signal Trading (signal trading)
“Winning and losing” after 5 years
What achievements has BingX achieved?
With more than 5 million users globally, from more than 100 countries and regions, BingX has created a remarkable spread and become the ideal place for investors around the world.
Impressive numbers of BingX
Scale and diversification
Over the course of 5 years, BingX has listed more than 500 cryptocurrencies and 200 different types of contracts, creating a rich and diverse trading environment. This gives flexibility to users and provides many investment opportunities.
User community and number of transactions
BingX also owns a large user community, with more than 8,000 traders and about 130 million copy-trading orders executed on the floor.
Leading position in the market
From an unknown platform, BingX has continuously proven its reputation and strength in the derivatives and futures segment. According to data from CoinMarketCap, BingX is among the top reputable exchanges globally.
Rapid growth
Not only that, the number of BingX users has increased by 800% since 2022. The exchange attracts about 150,000 trading participants every day. The highest trading volume on BingX ever reached the milestone of 10 billion USD.
With impressive achievements over the past 5 years, BingX continues to assert itself as an advanced and reliable trading platform, bringing peace of mind to investors globally.
Barriers have been overcome
Besides proud successes, BingX has faced many significant challenges in its 5 years of operation. Surviving in the ever-changing and changing cryptocurrency industry requires BingX to continuously adapt and patiently overcome any obstacle.
One of the biggest hurdles with BingX is the technological challenge. With the rapid development of blockchain and cryptocurrency, BingX must constantly improve its capabilities to meet the growing needs of users. This story requires BingX to invest in technology infrastructure, security and safety, to ensure every transaction on the platform is safe and efficient.
BingX also has to contend with a tough crypto regulatory landscape. In some countries, crypto and exchange regulations have not yet found common ground, creating an unfavorable business environment for BingX and requiring them to comply with the laws in their respective countries.
On the other hand, BingX also has to meet the increasing expectations of customers. BingX has worked hard to create a better user experience, enhancing platform security.
Recalling the past ups and downs, Elvisco Carrington continued to express his gratitude: "We are extremely proud of the achievements that BingX has achieved during the past 5 years. The 5th anniversary is a testament to seeing our dedication to going beyond our comfort zone to excel in the crypto space. Past challenges have made us more resilient. And most of all, the support from The user side is the driving force that pushes us to always move forward."
With this spirit, BingX is committed to continuing to face and overcome future challenges to satisfy customers and maintain its leadership position in the cryptocurrency industry.
Goals for the next 5 years: Innovation and expansion
In the context of the cryptocurrency market expanding and trading platforms growing, BingX has set important goals for the next 5 years to maintain its reputation in this field. BingX's main goal remains to create an innovative and customer-satisfying exchange, while strengthening its position in the industry and bringing an era of financial freedom to users.
In the next 5 years, BingX plans to expand its product system, focusing specifically on the DeFi (decentralized finance) segment. This includes providing staking, liquidity mining and yield farming services, to provide greater flexibility and profitability potential for users. Besides, improving the social trading network is also one of BingX's main goals. The company wants to build a vibrant trading community where users can share knowledge, experience and participate in trading activities in new and exciting ways.
In addition, BingX aims to incorporate blockchain technology into its infrastructure, helping to create an increasingly transparent, secure and trustworthy trading environment. With the application of blockchain, transactions on BingX will be clearly recorded and verified, while protecting users' rights and personal information in the most comprehensive way.
In addition to focusing on innovation and providing better services to customers, BingX also aims to expand its global reach. The company plans to move into serving new jurisdictions, making it easier for users around the world to access and use BingX.
Besides, BingX also does not forget its social responsibility. On the occasion of its 5th anniversary, the company is launching a charity campaign to support communities in need. Accordingly, BingX is partnering with local organizations to support people affected by poverty, natural disasters and other challenges. This is one of the ways the company wants to contribute to the community and create a positive impact in society.
Overall in the next 5 years, BingX is determined to consolidate its position as the leading cryptocurrency exchange and has set out a promising roadmap for the future. The company remains committed to its vision and prioritizes user satisfaction, innovation and security. To achieve its ambitions, BingX will focus on expanding its product portfolio, upgrading its trading infrastructure and introducing more unique and advanced features. The company also aims to establish strategic partnerships with industry leaders, contributing to the common development and integration of blockchain, DeFi and artificial intelligence (AI), opening up new opportunities for users. use and promote the era of global financial freedom.
Conclusion
To summarize the past journey, 5 years is not too long but enough for BingX to grow until today. The exchange has had a challenging and successful journey, with the continuous efforts of the BingX team.
BingX always puts hope and enthusiasm into serving and accompanying the crypto industry in general and the Vietnamese community in particular in the future. With this spirit, BingX believes that the road ahead will be full of promise and potential. The platform is committed to constantly seeking new opportunities, applying advanced technology and building a safe and transparent trading environment, creating real values for users and actively contributing to the development development of the cryptocurrency industry.
