Bibox Exchange – Beginner’s Guide

Bibox exchange was founded by a top tier team from Chinese blockchain giants which consists of early Bitcoin enthusiasts; well-established entrepreneurs, Venture Capitalists (VC), professional securities traders, AI experts and high tech angel investors of the industry.

What is special about Bibox?

Bibox is paired with ETH, BTC, USDT, and DAI. It is a totally AI-enhanced encrypted digital asset exchange. Here you will get the option of peer-to-peer trading in the same fashion as the EtherDelta decentralized exchange. The main goal is to provide the quantitative computation and analysis of the trading. There is also a plan to include fiat currencies in the exchange in the near future.

It is still not clear how the company is incorporating artificial intelligence. They have still not made the inner workings of their platform public. When you compare the core functionality of Bibox with other exchanges it looks very similar to most of the centralized exchanges.

How to register and start trading on Bibox exchange?

Step 1: Go to Bibox’s Website

Click here to go to Bibox, the link will open in a new window so you can still follow this guide.

You need to bookmark this page because there are various phishing sites, which are very similar to this actual site. You have to examine the URL of the website carefully and check for the secure certificate, which is used for authenticating the original site.

Step 2: Complete the Sign-Up Process

Bibox’s account registration is a very simple task. You have to enter your email address and a strong password with 8 to 20 characters containing a number and a special character. When you submit it and after passing authentication, you will receive an account confirmation email to the email address you entered. The link is present in the email itself.

From there, you are able to login to your Bibox account.

Step 3: Enable 2-Factor Authentication (2FA)

There are three types of authentication available:

  • SMS Authentication
  • Google Authentication 2FA
  • Funds Password

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It is recommended that before starting and using your account, you enable all the options so that it helps in adding the recommended security level to your account.

For this, you have to go to the Account Information, which is present on the left-hand side corner under your email id. There you will find all the authentication options. Before doing the Google Authentication, you have to download the Google Authenticator app, which is in the mobile devices App Store or on Google Play. Add the secret key and then scan the QR code. Before doing that write your secret key on a piece of paper (external backup – just in case you lose access to your phone). You will then see a 1-minute 6-digit changing code, which needs to be inserted every time you log in from now on.

When you complete the security process, that’s the basic set up of your account, now you can deposit funds.

Step 4: Deposit Funds

The Bibox website has a clean and modern layout. When you click on the Funds, in the top left corner, you will be able to see all the available coins for trading. The coins range from the most popular to the rare ones.

When you select the coin for trading you are redirected to the trading screen where you can see the coin’s chart and the order book.

When you come to this screen for the first time, you have to give the Google Authentication code. Then you are able to trade. It may seem annoying but it is important for the siteb security.

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Step 5: How to trade on Bibox?

Select “Token Trading” from the Top Right side menu and then select the desired pair from the table.

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For example, if we want to trade Ethereum with Bibox coin we start by selecting the pair in the market.

Trading Display: on your right pane you will see the last trades which are made on the specific market. Then on the left pane, there is the order book in which the buy and sells are available on the chart. In the middle there is the graph of the price followed by the volume.

All our active orders are also present on the screen. In this example, we are trading Bibox coin (BIX) for Ethereum (ETH). In this case, set your desired price and select the amount in BIX units. The Total BTC or the cost will be automatically calculated and is then shown next to the “Volume”. Selling is the same but with the opposite process. Don’t forget the trading fees, which are also displayed.

Click here to go to Bibox, the link will open in a new window so you can still follow this guide.

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Jennie

Jennie is an entrepreneur and private investor in blockchain projects . She writes about the blockchain community in Canada, altcoin development and launching ICO's.