Pionex Review: Is it the Best for Low-Cost Access in 2023?
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Pionex is a decentralized crypto exchange with built-in mining robots that are available free of cost. There is no need to have any previous knowledge with computerized or cryptocurrency investing; just enable their bot services to get going.
This tutorial will show you how and when to use Pionex automatons, as well as what transaction alternatives are open and how the exchange’s pricing structure works. It provides an automated crypto trading environment for smart trade bot with custom trading strategies to get excellent results.
You may use 12 various buying and selling bots at no extra charge. Such bots help you to automate your investment approach so that you wouldn’t have to keep an eye on the situation all of the time. Pionex offers reduced trading expenses as well as a fully functional mobile phone app. Pionex, we feel, is an excellent ideal for applications and mobile consumers.
Pionex is a full-featured cryptocurrency dealer that will attract smartphone investors in particular. The broker’s complementary cryptocurrency trading bots and simple-to-use site are appealing to us.
Table of Contents
- Pionex Review: What Is Pionex?
- How does Pionex work?
- What are the Features of Pionex platform?
- Pionex Commissions and Pricing
- Who is Pionex Best For?
- Pionex Pros and Cons
- Pionex User Experience
- Pionex vs. Competitors
- Conclusion: Is Pionex the Finest Option for Low-Cost Connectivity?
- Pionex Frequently Asked Questions
Pionex Review: What Is Pionex?
Pionex is a Singapore-based cryptocurrency exchange that arrives with 16 built-in trading robots, unlike other digital currencies that require consumers to communicate with a trading bot. Pionex now has a transaction volume of around $30 million.
Pionex is the very first largest stock exchange to offer free, embedded dealing bots. It is a computerized virtual currency platform that was created in 2019 and has become one of Asia’s speediest marketplaces, with daily transaction volume exceeding $30 million. The trade now has over 100,000 members and is supported by staff from over 100 specialists, including the president and Chairman.
The firm possesses a Money Services Business license (MSB) from the United States, with a license from the Financial Association of Singapore (MAS) forthcoming. Binance and Huobi Global’s liquidity generators are combined, guaranteeing that the machines can fulfill requests and operate 24 hours a day, seven days a week. Pionex is supported by BitUniverse, and it has received funding from ZhenFund and Gaorong Capital, two well-known Chinese private investment firms.
How does Pionex work?
Cryptocurrency bots are a collection of programs and techniques meant to accelerate virtual currency transactions. To choose the greatest chances and execute strategies, market data is processed and processed according to a preset list of requirements. Bots eliminate the need for round-the-clock supervision over long periods of time.
The following are the key benefits of utilizing bots in the bitcoin market:
- Data-driven, dispassionate trading
- Decrease the likelihood of human mistakes or disruptions.
- Create virtual settings in which novel techniques may be tested.
- Function on predetermined criteria focusing on accuracy for performance objectives
- Quick trading and transfers than individual investors could handle
- Limit the amount of time and personal engagement required to monitor market fluctuations. 24/7
Pionex isn’t just another bitcoin exchange; it also gives out free bots that can be used to develop advanced configurable algorithms. API key dealing has now become important, decreasing the need to monitor marketplaces 24 hours a day, seven days a week, and Pionex provides 12 free trading bots ideal for both novice and professional traders.
What are the Features of Pionex platform?
Let’s look at the characteristics in more detail!
The Pionex trading platform includes different trading bots starting from spot futures arbitrage bot, trailing sell bot, smart trade bot, and different crypto trading bots to create an effective future market. For greater efficiency, the software provides nine automatic trading bots. They are as follows:
GRID Bot (Grid Trading Bot)
GRID Bot is a major figure among cryptocurrency trading robots. It’s an ancient yet effective investing method that gains from currency movements. All you have to do is choose a limit for it, and then it will assist you in “buy undervalued stocks and sell it high” inside the zone immediately. Pionex grid trading bot offers dollar cost averaging that can create grid trading bots with cryptocurrency exchange.
Infinity Grids Bot
By utilizing GRID Bot, it’s possible that you’ll lose out on the increasing benefit whenever the price rises. That’s when Infinity Grids Bot really shines. GRID Bot is comparable to Infinity Grids Bot. Once you get the Infinity grid bot with the right bot trading feature to track strategy statistics with the right investment advice.
However, it has no maximum limit. It always enables you “purchase low and sell high” 24 hours a day, but it only accounts for a small fraction of your cash compared to GRID Bot. The Pionex bots offer trading bot access with very low trading fees to automate trading and get positive user ranking pushing.
Leveraged Grid Bot
The Leveraged Grid Bot works by merging GRID Bot with a crypto-loan function. The premise is just the same as GRID Bot, but you might also make more money using your fundamentals by using advantage (up to 3x).
However, Leveraged additionally implies that there is a possibility of liquidation; be aware of this risk whenever utilizing it. Pionex leveraged tokens offers CFD trading and upper limit price and AI strategy.
Margin Grid Bot
Margin Grid Bot is identical to Leveraged Grid Bot; however, the leverage does not include the Grid Bot. When utilizing Margin Grid Bot, you can additionally select LONG or SHORT. The innovative liquidity engines aggregated and effective trading strategy offers perpetual futures market and Pionex smart trade feature that offers excellent action price gap control and trading volume.
Grid Reverse Bot
Well, with the grid trading method, Reverse Grid Bot is a clever solution to promote your quotation price. It trades your cryptocurrency at a greater cost and buys them back at a lower cost. Pionex offers several crypto trading bots with grid bot data and positive user rankings pushing and API Key trading options within the Pionex app.
Reverse Grid Bot with Leverage
Leveraged Reverse Grid Bot is done by mixing Reverse Grid Bot with a crypto-loan function. Reverse Grid Bot has almost the same capabilities as Reverse Grid Bot, but you might also utilize advantage to make more money. When employing leverage investing, keep in mind the possibility of liquidation.
App for mobile devices
The mobile app for Pionex is perfectly effective, replicating all of the capabilities seen on the Microsoft Windows platform. Researchers considered the user interface to be straightforward enough that novice users might have no trouble understanding the capabilities, and we were able to establish our personal trading bot in about a moment. You’ll be able to process the various attributes of this application in contrast to bot functionality and manual investing.
Pionex has a few different ways for you to contact their support team.
By mail: Deliver the message to [email protected] to contact Pionex’s team through email. By way of live chat session: To contact Pionex’s customer care department, go to the realtor’s website and read on the “Support” button. Afterward, tap on the “Live stream” option. A dialog box window will open on your computer, allowing you to contact a candidate.
Pionex Commissions and Pricing
Pionex has a maker-taker pricing model, which implies you’ll be charged a fee for placing transactions that “create” liquidity on the exchange and “take” liquidity off the platform. You’ll be charged a maker fee if your transaction isn’t promptly paired by an exceptional demand on the records.
You’ll spend the taker charge if you make a deal transaction that is instantly linked with an outstanding request. Both the maker and taker fees on Pionex are now fixed at 0.05 percent of the entire deal value. When you make a transaction, your charge is subtracted from the outstanding amount balance in your record.
Unless you’re a high-volume dealer, Pionex’s Market Maker program could be right for you. To be eligible for the Market Maker program, you must invest at least $300,000 in USDT into your wallet.
If you have the worth of $300,000 USD more than that in another supported currency or token, you can also apply for the program (Bitcoin, Chainlink, etc.). If you are eligible for the Market Maker program, you will not be charged any maker costs. Taker fees have remained unchanged at 0.05 percent.
Who is Pionex Best For?
Pionex was the first to introduce GRID Bot (Grid Trading Bot) to the crypto industry, making it well-known among crypto traders worldwide. Pionex GRID Bots’ UI/UX is used by 3Commas, Bitsgap, TradeSanta, and other crypto trading bot platforms.
Pionex will be your first pick if you’re a crypto trader who enjoys employing crypto trading bots. Don’t be concerned with API Keys and their inconsistency in performance. Switch to Pionex and begin trading with its built-in automated trading bots. The costs are the lowest among all the exchanges, saving you a lot of money when using the bot.
- An investor with a high frequency of transactions seeking the best rates
- Cryptocurrency traders on the go
- Traders have a limited amount of time
- Those who want to invest in a low-risk plan
Pionex Pros and Cons
Let’s take a closer look at the advantages and disadvantages.
- A smartphone application is simple and straightforward.
- Acceptance of more than 40 cryptocurrency financing currencies
- Platform interface that may be customized and is easy to use.
- Twelve free automated trading bots that don’t demand any programming language or scripting.
- There are no possibilities for depositing or withdrawing money in fiat currency.
- There isn’t a trial login available.
Pionex User Experience
Users were genuinely delighted by how simple the Pionex system proved to use it after installing it and wanting to give it a try. Although we couldn’t find these few functions on the Microsoft Windows platform (for instance, CopyTrader functionalities), establishing and launching our bots was quick and painless.
Unless you’re a first-time customer, we suggest installing the mobile phone app because we discovered it to be even more efficient and simple to use. With lots of Pionex trading bots such as Pionex Arbitrage bot and trailing sell bot, trailing buy bot and more, you can do Pionex exchange with ease.
Pionex’s technology would be most beneficial to the following users. Traders that perform the bulk of their investing on the fly are known as mobile investors. Traders that are prone to abandoning their trading plan as a result of their emotions can get the maximum benefit through trading pair and more. Traders that already have a cryptocurrency in their portfolio can also get in built trading bots.
Pionex provides a proprietary web-based trading platform that works with all major web browsers, including Safari, Chrome, Firefox, and Internet Explorer.
Pionex vs. Competitors
Let’s compare Pionex to Coin Market Manager! Pionex is built-in with trading bots whereas Coin market manager is an automated journaling tool for traders with actionable analytics to help enhance decision-making.
Moreover, Pionex enables users to get automated trading with Pionex app thereby not allowing you to monitor the market. Coin Market Manager allows real-time market stats and different values. The Pionex features offer decreased trading fees and high-grade cryptocurrency exchange than Coin market manager that’s effective for professional traders looking for efficient platforms with multiple exchanges available.
|Broker||Best For||More Details|
securely through Coin Market Manager website
When comparing Pionex to Altrady there are some specific options. Pionex includes manual trading for different conversions whereas Altrady is an effortless choice for someone looking for an all-in-one platform to help traders, monitor and trader markets while managing access to different exchanges.
Besides this, Pionex includes different trading bot options with low trading fees compared to Altrady that features a trading terminal allowing the traders to sell and buy multiple currencies.
|Broker||Best For||More Details|
securely through Altrady website
Lastly, consider a comparison between Pionex and Delta Exchange. With futures market and automated trading feature, Pionex offers better AI strategy than Delta Exchange. Delta Exchange is a platform that specializes in Altcoin futures and different contracts.
Moreover, Pionex also offer maker-taker fee schedule with the liquidity aggregated engine Pionex whereas , Delta exchanges provide users a trading wallet with a particular wallet address to support the investors.
|Broker||Best For||More Details|
securely through Altrady website
Conclusion: Is Pionex the Finest Option for Low-Cost Connectivity?
Pionex should therefore be your top choice if you want to attempt dealing bots because it doesn’t require API keys, and there is no subscription service price, and the dealing charges are the cheapest as in comparison to certain other platforms, at only 0.05 percent.
The Pionex application is quite simple to utilize; the Pionex crew is committed to becoming mobile-friendly, and now they’ve put a lot of energy into making fantastic software. Pionex is a one-of-a-kind, rapidly-growing virtual currency platform that offers a variety of basic yet complex trading bots that can be used by anybody with no prior understanding of coding, algorithmic trading, or crypto bots.
Despite being a new broker, it offers a high degree of security and has significant financial support, including two major Chinese venture capital groups. Although inexperienced traders can use the automatic trading capabilities, there is no opportunity to test the broker before committing money because there is no demo account or phone number.
Pionex Frequently Asked Questions
Is Pionex a safe and legal product?
Pionex stores its money on safe exchanges like Binance and Huobi, allowing the firm to take advantage of the security features of these high-level exchanges. FinCEN has also granted it an MSB license. Because of these qualities, the broker is safe to use.
The BitUniverse group, a renowned fully-featured trading bot, and platform with the highest market share in Taiwan, Indonesia, and South Korea, is the driving force underneath the Pionex platform. This denotes a high degree of protection and responsibility.
Is Grid trading bot profitable?
Grid Trading uses the most basic trading idea (buy low, sell at a profit, gain the differential); thus, it can be used in almost any marketplace and efficiently gain revenue, regardless of pattern or commercial practices.
Because of its obvious logic and the reality that all of those operations are preset and independent of market behavior, Grid Trading is particularly amenable to mechanization. Not only that but employing a Trading Bot to execute Grid Trading is far easier and more efficient than manually executing the technique.
What is considered money services business?
Any individual doing business in one or more of the following roles, whether on a regular basis or as an organized business concern, is referred to as a “money services business.” It includes any person who is a currency trader or exchanger who sells or exchanges currencies, someone who is a cashier of checks, traveler’s checks, money orders, and stored value issuer.
Moreover traveler’s checks, money orders, and stored value seller or redeemer, a person in the money transfer service or USPS (United States Postal Service) Thus, regardless of the amount of money transmission behavior, a person who engages in the transfer of cash as a business is an MSB as a money transmitter.
What is leveraged reverse grid bot?
The Reverse Grid’s idea is to purchase low and sell high in a specific price range in order to increase the number of tokens in circulation. The Leveraged Reverse Grid is a technique that leverages the principle on the basis of the Reverse Grid to increase the grid’s revenue. It offers leverage choices ranging from 1.2X to 5X, and you may utilize the instruments to boost your profits.
The Reversed Grid Bot was created to profit on market declines. “Sell first, buy later,” as the saying goes. The Reverse GRID Bot assists you in accumulating more coins as the price continues to fall.