In this guide, we will examine the security of Pionex, a cryptocurrency exchange with 16 free in-built crypto trading bots to optimize your trading and eliminate the need to monitor the market continually. In particular, we will analyze its two-factor authentication, security license, safety features, and track record, amongst other things.
About Pionex
Pionex, which has its headquarters in Singapore, is the world’s first cryptocurrency exchange to have built-in automated trading bots. The exchange originally opened in 2019 and has since evolved into a global cryptocurrency marketplace.
In addition, the platform provides its clients with the possibility to trade cryptocurrency using one of the 16 free trading bots, minimizing the need to continually watch the market and making it suitable for both novice and experienced traders.
Using this platform has a number of significant benefits, the most significant of which is the total absence of setup necessary, which means that you need little or no prior experience with trading with crypto bots to get the most benefit from them.
Note: To learn more about the cryptocurrency exchange itself, including its 16 free in-built trading bots as well as its other features please check out our in-depth Pionex review.
With more than 100,000 monthly active clients, Pionex is a well-established broker that handles $5 billion in trading volume every month.
The platform has established a solid reputation since its launch in 2019, with various certifications, guarantees, and financial backing providing a very strong foundation for Pionex’s operations.
Since Pionex keeps its funds on Binance and Huobi, it is able to benefit from the high level of security that these platforms provide. Whatsmore, Pionex is also able to aggregate liquidity from the two crypto exchanges near the ticker price.
Watch the video: Is Pionex safe?
What makes Pionex safe?
In particular, Pionex has been regulated in both Singapore and the United States since April 2020, providing traders with peace of mind. The MSB (Money Services Business) license held by the platform is the same license that Binance, Huobi, and several other prominent exchanges have obtained.
Pionex has received a favorable rating of 4/5 on Trustpilot.com, based on more than 200 reviews;
The exchange has a large following online with around 24,000 members in their official Telegram group and over 6,000 members of the Discord community are actively involved in the promotion of communication on the platform. The official Twitter profile has more than 25,000 followers;
The fact that Pionex prioritizes simplicity of access, usefulness, and mass trading is evidence of the company’s commitment to its goal of encouraging more individuals to drive more traffic via its cryptocurrency exchange channels;
Among the many features offered by Pionex is a user-friendly interface that is simple to traverse, as well as commands and important safety operations that are easily accessible from the main screen;
Since its launch, the company has maintained an outstanding track record when it comes to security, with no breaches in over 980 days.
Key security measures
Pionex, in general, protects its users and the security of their funds on the exchange with four crucial security measures.
Aggregated liquidity: At the ticker price, Pionex collects liquidity from cryptocurrency exchanges Binance and Huobi. Besides being one of the leading brokers for Binance, Pionex also serves as one of the most important market makers for Huobi.
Financial backing: Among the investors in Pionex have been several Chinese corporate firms including Gaorong Capital, Shunwei Capital, and ZhenFund, with a combined investment of more than $10 million in the company.
Fully licensed: In terms of security, Pionex has been granted an MSB license by the Financial Crimes Enforcement Network (FinCEN) of the United States (MSB Registration Number: 31000188348895). The fact that Pionex is the first cryptocurrency exchange with built-in trading bots that has been awarded a U.S. license should not be overlooked.
In addition, as part of its security measures, Pionex provides two-factor authentication with email and SMS authentication, KYC identity verification for deposits and withdrawals, and Google Authenticator compatibility, as outlined below.
Password: Users must make an 8 – 16 letter encrypted password;
Google Authenticator: Pionex suggests that you link your account with Google Authenticator since this will make your account more secure in the long term. In addition, when you withdraw from Pionex, you must link your account with Google Authenticator to complete the transaction;
SMS Authentication: also known as SMS-based two-factor authentication (2FA) or SMS one-time password (OTP)—allows users to authenticate their identities using a text message-based code;
Email Authentication: Email verification is the process of verifying and authenticating emails you’ve received to guarantee you are genuine. This is one of the two-factor authentication processes on the platform;
Know your customer (KYC): Before completing a transaction, you must complete the LV.2 Know Your Customer (KYC). If you have not yet validated your KYC, please click on the “Verify” button and follow the instructions on the screen to complete the verification process. After the KYC information has been entered, the credit card transaction may be processed after the verification process has been finished.
Customer Support
Pionex provides a very high level of customer service, which makes them highly accountable to its customers. Several alternative methods are available for getting in touch with Pionex’s customer support personnel.
Social media: The Pionex team maintains a presence on many social media platforms, where you may learn more about the latest security updates and ask questions.
Email: You may reach out to Pionex’s employees through email at [emailprotected] if you need any further information.
Live Chat: To get in touch with Pionex’s customer service department, go to the broker’s home page and choose the “Support” option from the tab at the top of the page. Then, on the screen, choose the “Live chat” icon that appears at the bottom. A pop-up window will appear on your screen, enabling you to engage in a live chat.
Also available are live chat services, which are open from 08:00 to 21:30 (Asia/Taipei) Monday through Sunday.
Final Verdict
In general, we believe Pionex to be a safe exchange that can be used to buy, sell, and trade cryptocurrencies. Given that it is completely regulated in both Singapore and the United States, and that it has an MSB license, deep liquidity, solid financial backing, and the ability to use two-factor authentication by email, SMS, and Google Authenticator, among other things.
Customers may check the firm’s security track record by going to their website and checking the counter on the main page. The platform has now been in operation for more than 980 days without experiencing a security breach of any kind.
FAQs about Pionex security
Is Pionex safe?
Through the use of exchanges like Binance and Huobi, Pionex is able to take advantage of the high level of security that these platforms provide by retaining its funds there. It has also been awarded an MSB license by FinCEN, and it offers two-factor authentication, including email and SMS authentication, on top of Google Authenticator compatibility, among other features.
What are the fees on Pionex?
The trading fees at Pionex are very competitive, at just 0.05%, deducted from each maker or taker transaction, and there is no minimum order volume restriction, making it an excellent low-fee option for traders. there is a fixed fee associated with the withdrawal of various coins and tokens, an extensive list of which can be found on the official website.
Can I manually trade on Pionex?
While Pionex does enable manual trading through crypto-to-crypto conversions, its primary product is its range of automated trading bots.
How many trading bots are available on Pionex?
There are 16 automatic crypto trading bots accessible on the exchange, all of which are completely free to use. All of the bots are cloud-based, so you don’t have to leave your device on for them to run in the background.
Is Pionex Safe? Yes, Pionex is safe. Most of its trades take place on Binance and Huobi, meaning the security of Pionex is tied to the security of those platforms.
Verdict. Pionex is a top choice cryptocurrency exchange for trading bots and is perfect for beginners to automated trading. They really walk you through each bot in full detail so you know exactly what you're doing instead of rushing in headfirst with no idea.
Pionex's Buy-the-Dip: Buy Crypto at Target Price While Earning Passive Income. Buy-the-Dip is a dual investment product that lets you earn high interest income before you successfully buy crypto at your target price. The APY for Buy-the-Dip can range from 10% to even around 300% depends on the target price and…
Some of its most popular bots include the Grid Trading Bot, which helps you sell high and buy low. The arbitrage bot, on the other hand, leverages the future market powered by the broker system Binance in order to help you enjoy a payout every 8 hours.
Withdrawing cryptocurrency from Pionex is a simple and quick process. Once Pionex has received your instruction, they will begin processing your withdrawal immediately, and you will be able to track it. You should be able to finish your withdrawal within 5 minutes or less.
What makes Pionex safe? In particular, Pionex has been regulated in both Singapore and the United States since April 2020, providing traders with peace of mind. The MSB (Money Services Business) license held by the platform is the same license that Binance, Huobi, and several other prominent exchanges have obtained.
Coinbase is our pick for best crypto exchange for beginners because it offers a large number of supported cryptocurrencies, strong security, and advanced trading capabilities, all on an easy-to-use platform.
You can create a bot with no less than 11 USDT. If you are new to Pionex, we recommend over 50 USDT to test the bot. It will be suitable for almost all the bots and parameters.
In general, experienced traders who have harnessed the skills can use crypto trading bots to generate huge profits. On the other hand, traders who make hasty trades and lack explicit knowledge of the market can incur losses using crypto trading bots.
You can use trading bots (made with python code) to make money. This is the reason why more and more hedge funds, big financial companies, and banking structures are using these trading bots. You can expect 0.6-1% of profitability in a low volatility market. In that case, you can expect to earn around 20% every month.
What profits can you expect? A good running bot can make you about 15% profit or more. For example, invest 100 USDT and after 1 Month you're having 15 USDT profit. My best running bots are MATIC/USDT, BNB/USDT, and BTC/USDT with around 13 to 15% of total profit.
How do I put a stop loss order in pionex? I buy spot (manual) and not using any bot. Answer The stop-loss order is moved into bot section. You can create stop-loss order in the Bot , then scroll to bottom (stop-loss) .
You can complete Identity verification (KYC) on your Pionex account to unlock the buy crypto with a credit card, deposit, and withdrawal limits. This process typically takes a few minutes to complete, which includes verifying your basic account information, providing ID documentation, and uploading a selfie/portrait.
How much money do I need to start investing in cryptocurrency? In theory it takes only a few dollars to invest in cryptocurrency. Most crypto exchanges, for example, have a minimum trade that might be $5 or $10. Other crypto trading apps might have a minimum that's even lower.
Ethereum: Investing in Ethereum is claimed to be the best investment decision for 2023. It is due to the fact that Ethereum's value is stable and has seen a significant rise since 2021.
Here's all you need to learn regarding generating income from day trading if you're only commencing out with cryptocurrency. By investing roughly $1000 while monitoring a 10% increase solely on a single combination, it is possible to earn $100 every day in bitcoin.
If you're looking into cryptocurrency for the first time, you may be wondering, “can I start by investing $100 in Bitcoin?” The answer is definitely yes.
It depends on stock and market conditions, chosen strategy, and algorithm type. A bot could make a 2% return for a day and then the market will change its direction and it will blow up day's profit and make a 3% loss.
Can You Make Money With Cryptocurrency? Yes, you can make money with cryptocurrency. Given the inherent volatility of crypto assets, most involve a high degree of risk while others require domain knowledge or expertise. Trading cryptocurrencies is one of the answers to how to make money with cryptocurrency.
Crypto Currency Trader salary in India ranges between ₹ 0.2 Lakhs to ₹ 4.8 Lakhs with an average annual salary of ₹ 4.0 Lakhs. Salary estimates are based on 7 latest salaries received from Crypto Currency Traders.
Python is a high-level language used for automated trading and preferred by HFTs. It has free open-source libraries and tools that facilitate bot coding and fast transactions.
Often, users will be lured by promises of high returns, but without any substantive data to back such claims. In fact, many crypto trading bots are just scams. Often, you'll have no idea how or even if the bot actually works because you won't have any data about it or its creator. This is how bots don't work for you.
If you have low amount of money, you are going to make less than the ones, who trade with thousands of dollars. On average you are going to make roughly $2000–3000 but once again these numbers are individual for every trader.
If the bot doesn't lose any trades in this kind of trading month, the trader could potentially earn 20% each month for an all-in strategy. This means that an account with $10,000 will earn up to $2,000. A trading bot can theoretically make a trader a billionaire.
3) Cryptohopper – Best for Copy trading investors and Fixed Fee Option. Cryptohopper is one of the best-automated trading bots that helps you to manage all crypto exchange accounts in one place. It allows you to trade for BTC, Litecoin, Ethereum, and more. Types of Bots: Arbitrage, AI, Market-Maker, and Mirror Trading.
Introduction: My name is Nathanael Baumbach, I am a fantastic, nice, victorious, brave, healthy, cute, glorious person who loves writing and wants to share my knowledge and understanding with you.
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