BaseFEX - checking out the cryptocurrency exchange basefex.com
BaseFEX is a futures trading platform that offers credit contracts for bitcoins and other cryptocurrencies. In other words, a classic cryptocurrency exchange.
The project, which has existed for several years, and in the past time has acquired a mixed reputation. On the one hand - it is a secure platform, in which serious money is actually invested, and which is really engaged in cryptocurrency trading. On the other hand, there is a lot of understatement on the site, there are obvious problems with the legal framework, and there is also a feeling that the exchange is not developing.
Basefex was founded in 2018 by a group of idealistic cryptocurrency traders who were not satisfied with the status quo and the way companies run their exchanges. Today Basefex provides traders around the world with not only phenomenal liquidity, but also first-class security and innovative products. Basefex believes that the sooner the market returns to the original crypto spirit, the better.
BaseFEX only works with bitcoin. All profits and losses are reported in BTC or USDT. More Altcoins futures contracts will be offered in the future, as well as cryptocurrency options trading.
BaseFEX allows high leverage trading up to 100x.
The site is large, but it is not impressive. The description is extremely disappointing. All these tales about how a group of obscure people, in this case "idealistic traders" create another project to destroy the plans of the damned capitalists - it's ridiculous. In the real world, especially when it comes to money, such things do not work. Any exchange is created to make money. The same applies to BaseFEX. So we're just being fucked around.
On top of that, there are ridiculous mistakes. What, you didn't have enough money to hire a professional copywriter?
The important problem is anonymity. We know absolutely nothing about who created this exchange and who manages it. Apparently, the "idealistic traders. The names listed on the website are Chinese crypto-millionaires, whose connection to BaseFEX has not been proven by anyone. The contact information implies only written communication. There are no phone numbers (at least customer service), much less physical addresses.
Legal information is the same thing. We couldn't find it on the site at all. There is information on the web that BaseFEX is registered in the Seychelles. Accordingly, they are hiding in a deep offshore, plus they hide their true origin.
The disadvantages of BaseFEX include a small number of available futures, which indicates the low level of development of the exchange, as well as a small insurance fund (what is, what is not) and the lack of an affiliate program.
We do not recommend blindly trust BaseFEX cryptocurrency exchange. Unreliable platform - young, underdeveloped, without documents, with an offshore residence and ambiguous reputation in the network. It works, but only for now. Is it worth the risk?