BCoin.sg Exchange Review

Launched in April 2018 in Singapore with a global presence and multiple mining facilities in other locations around the world, BCoin is a fiat-crypto exchange platform. It’s led by CEO Davy Goh and the team behind it claims to have “30 years of experience in investment banking, fin-tech and exchange infrastructure development.” The platform defines its focus as being consumer empowerment through an integrated digital payment solution, as the slogan on its white paper reads “Empowerment to the Masses”. The exchange aims to offer an all-encompassing platform for this new economy. Currently, BCoin offers three main services: cryptocurrency trading, fiat-crypto trading and OTC services, however it is looking to expand its range of services. It is not possible to trade on the platform as of March 2019, since the platform is under construction and the website is down for the time being.

 

BCoin uses an end-to-end “Cryptocurrency Service Platform”, aiming to make it easier for everyday investors to exchange cryptocurrency, hence fulfilling their aim to “empower the masses.” BCoin’s mining facilities are located in Georgia, Houston and Ontario and mine around 50 BTC a day, which helps them stabilize the liquidity of the platform, a major issue in the market. It has a trading fee of 0.20%, which is slightly below the industry average. The withdrawal rate is 0.0005 BTC, which is also below the industry average, making BCoin.sg competitive. The team has used its background in finance and has adopted a banking-level security for the exchange, with its security protection system consisting of banking-level encryption, tripartite hosting and an architecture of multilayer and multi-cluster systems. The platform is accessible and has satisfactory usability with its ability to provide service in multiple currencies and interface languages. Though the customer service only provides help in English and Mandarin, the platform claims that they are working on expanding into other languages.  Also, allowing for fiat-crypto exchange appeals to the new cryptocurrency investors and makes the platform pretty attractive to the user.