I thought Bitunix was just another crypto platform. However, my friend liked how quick it was for withdrawals. I gave the app a try and found it easy to use after verifying my id within 15 minutes. I made a small deposit in it as a test.
Bitunix supports regular trading and futures trading with very high leverage up to 125x which I found scary but exciting too. I had lost money before on 10x leverage so I knew the risks involved. Of course that is the whole crypto world.
How does trading work on this platform? It is not much different from other derivatives exchanges – select pairs like BTC/USDT or ETH/USDT then choose leverage levels carefully. They are also commanding attention with their speedy order execution. I started withdrawals for testing this aspect too and was amazed when USDT reached my wallet within 5 minutes! Other places take hours or even days which made me look at Bitunix differently now.
Now the big question stands: Is Bitunix secure enough? To me, safety continues to remain elusive hands in crypto investing circles therefore had doubts about it still undergoing attempts at proofs of reserves audits using merkle trees published periodically online but could not entirely trust them completely since they do not provide full details regarding who conducted them nor the levels of thoroughness. I kept reminding myself this exchange isn’t the best option for significant amounts so far no major red flags although I prefer controlling my own keys instead keep just enough spare cash in case something goes wrong regardless of having good security procedures such as cold storage and 2FA.
Bitunix hides fees. Spot trading is cheap at 0.1%. Makers get rebates. Futures fees are huge. Holding long lets shorts pay. Withdrawals depend on congestion. Costs are easy to overlook. Read fees first.
Bitunix feels good. Charts look nice. Orders are simple. Copy traders are risky. Charts confuse those who don’t get them. I asked about orders. They replied quickly but did not say much. Many test staff but major problems haven’t occurred here. So I think it’s decent unless challenged.
Bitunix suits some users. Newbies buying 20 dollars of Bitcoin? Yes, clean interface. But derivatives are dangerous. Fast withdrawals are good for contract pros. I’m in the middle. Not my main exchange here, yet okay for seeking leverage or rapidly transferring funds. Fast and manageable fees. Calculated risk, no long-term saving for me.
To be honest, a bit uneasy. Despite the advantages. The new cryptocurrency, Bitunix, is somewhat sceptical. The leverage and fees are indeed overwhelming. Yet withdrawal is quick, timely. This makes timing of essence; us from it always cautious and sceptical. However, indeed, it gets the job done. The USDT wallets are, surprisingly, timely.