Bitxmi is an exchange based in Singapore but operated for the entire world. We provide fast and convenient cryptocurrency trading that includes 40 coin pairs with famous currencies, e.g. Bitcoin, Litecoin, Ripple, Binance Coin, and many more.
The team of professionals works hard to ensure the seamless and smooth running of our exchange. Despite Bitxmi is a fresh platform that only begins its journey, it already has positive feedback from Singapore and international traders.
Our platform focuses on security and reliability that is based on the usage of cold wallets. As well, we aim at trading speed provided by next-gen API protocols. You can find the exact list of features below.
● $10 joining bonus for each new customer.
● A rebate system for high volume traders and whales.
● Trading limits up to 3 BTC per day for new users and 99 BTC for verified traders.
● Cold wallets for users’ money stored at the exchange.
● Quick and efficient order matching system that combines Buys and Sells.
● Fast API protocols designed for smooth trading.
● Native clients for iOS and Android.
● Multilingual support that includes English, Chinese Hindi, French, Korean, Russian,
Japanese, and Arabic.
● Trading fees: 0.1% per trade, don’t include additional hidden expenses.
● Withdrawal fees: 1.25% per transaction, also without hidden fees.
● Deposit fees: 0% for all deposit methods.
● Other fees: third-party services can apply extra charges.
At Bitxmi, we clearly realize that security and safety issues are dangerous both for traders and exchanges. Our exchange features several traditional security measures to protect our customers from unpleasant experience. Our servers are heavily backed by the best SSL and
DDS protection. Additionally, we utilize cold wallets to store funds of traders. Plus, our double authentication systems come with IP address verification.
Know Your Customer / Anti Money Laundering / Counter the Financing of Terrorism (KYC / AML / CFT) Policies + International Sanctions Policies
We are fully committed to ensuring that our platform is not used for money laundering, terrorism funding and the facilitation of any crime. That’s why we have drafted a comprehensive KYC / AML / CFT policy which lists the minimum standards that must be
Know Your Customer (KYC) Measures
Our customers can easily be identified through a number of ways. These include but are not limited to identification through passports, other identification documents or cards, bills with their addresses, etc. We always ensure that copies of the clients’ relevant information is stored in our database.
Anti Money Laundering (AML) Measures
We have recruited a Money Laundering Reporting Officer (MLRO) who works at a senior level, independent and above all procedures. The officer checks and ensures that trading meet the industry rules and requirements.
Here are the exact tasks of MLRO:
● Setting up and maintaining a Risk-Based Approach (RBA).
● Checking Know Your Customer (KYC) practices to mitigate risks.
● Monitoring of ongoing customer activities through risk-scanning systems.
● Reporting suspicious activity within the platform.
● Keeping of regular records even for the smallest of prescribed periods.
● Educating employees about potential risks related to frauds and money laundering.
International Sanctions Policy (ISP)
According to the International Sanctions Policy (ISP), our exchange doesn’t indulge in any transactions with individuals, companies, and countries that are placed on the sanction lists.
General Risk Disclosure
This notice is intended to inform you of the risks that are generally associated with investment products. Bitxmi provides a diverse range of investment products as well as instruments and features related to trading so we suggest studying this section to learn about potential pitfalls:
● Appropriateness. We regularly evaluate the products and services provided to our users based on their feedback. If the chosen investment products aren’t suitable for traders, we warn them and notify about risks. Users are still eligible to agree with these risks and proceed with the chosen assets.
● Software. Various third-party applications utilize different protocols and APIs. We aren’t responsible for any errors related to these protocols, software security, and accessibility. Moreover, we may suspend trading operations with a given software protocol or restrict trading from certain accounts in case of problems.
● Third parties. Apart from external software, our exchange can cooperate with third-party platforms to execute orders or keep fiat money. These partners aren’t responsible for your losses even if they are officially registered. Thus, we also don’t cover these damages related to problems with external storages or processors.
● Internet. System errors, software/hardware failures, disconnections, hacker attacks, and malware can affect your trading and lead to delays or issues with order placements. Be aware of this fact and also remember that SMS and email services are vulnerable to attacks. Always check emails to see if they are from our team.
● Fees. All our charges are listed at the official website. Review them carefully to be sure that fees are suitable for you as they can affect the trading’s profitability.
● Information. Any news, opinions, research, analysis or any other information is shared here as general commentaries and doesn’t act as trading suggestions.
● Past performance. The value of future investments can’t be determined by past transactions. Your performance can lead to either losses or profits at any time.
Crypto Trading Risks
When it comes to the essence of crypto trading, users should clearly realize a few more points and associated risks. Services of Bitxmi aren’t regulated by any authorities as well as crypto
markets are unregulated and decentralized by their nature. Means, in case of any issues, there will be no official bodies to interfere or react.
Generally, cryptocurrency trading markets are based on users’ demand and supply. Prices of coins are hardly predictable and highly volatile. Users can experience upside and downside risks and Bitxmi doesn’t guarantee the profitability of any asset or deal. You always should understand the principles of crypto trading and price formation.
Crypto trading is also related to risks of fraudulent and illegal activities as this market isn’t regulated and all deals are executed anonymously, actually. At all, crypto coins are high-risk assets so you want to invest only the amount you can afford to lose. It’s possible to end up with losing everything you have invested initially.
Apart from the mentioned things, remember about:
● Execution. It happens that prices of assets change during the pending period between
the order placement and its execution. These changes can be either profitable or unprofitable but users can protect positions by using Stop Loss orders. Still, this features isn’t always effective because of market volatility.
● Position monitoring. It should be clear that the monitoring of open positions is the full responsibility of traders. Bitxmi can spectate for activity related to your trading but we will not notify you about losses/profits or required changes.
● Delisting. It is possible that the cryptocurrencies involved in your order are delisted or unsupported by the exchange platform with time. The order will be shut down then. We will try to sell assets that will be delisted on your behalf to minimize losses.
● Currencies. Traders’ accounts at Bitxmi are open in USD. You should spectate for all price fluctuations and rate changes if you deposit money in another currency. Be sure to look at cross rates between fiat currencies and crypto, as well.
● Blockchain. Finally, you should remember about risks related to blockchain systems. All the coins are based on decentralized platforms that also can face policy changes or tech problems. We aren’t responsible for them and their consequences.
The world of cryptocurrencies is full of fluctuations, and changes as the cryptocurrencies market are never stable. The prices are often unpredictable and volatile, and the winds can blow either in your favor or against your interests. The worst outcome for a trader could be that his / her product is left useless.
The difference between the prices on the charts (the indicative prices) and the deal able prices should be known to traders. It must be understood that these prices often differ as the indicative prices are only a reflection of the deal able prices, giving an approximate idea of where the market stands in terms of prices. For the most accurate prices in trading, the deal able prices must be viewed by the clients as trades can only be executed on these prices.
Cryptocurrency trading, like many other businesses, is susceptible to many illegal activities and transactions as the transactions and trades are executed anonymously. It must be understood that there is a risk that trading practices could be affected adversely if the law enforcement authorities decide to investigate any allegations made.
It must be known to all potential investors that cryptocurrencies trading is very volatile and unpredictable. It is a very high-risk investment, and you should not invest any amount that you cannot afford to lose. Moreover, BitXmi spread itself has been added to online quotes which confirms just how unpredictable cryptocurrencies trading can be.
There is a great risk involved that you could be left with losses only in cryptocurrencies trading. You should be aware of the fact that you could end up losing all the amount that you have invested in your trading depending on the position of the market. Also, additional margin funds can also be demanded on short notice to maintain your trading position in such a case. Failure to submit these funds within the allotted time can result in your position being liquidated at a loss. And, hence, you will be held responsible for any deficits that pile up in your account.
Trading over the weekends is allowed for by BitXmi, but we reserve the right to withdraw this allowance. In the case that this allowance is withdrawn, there is a possibility that there could be a considerable difference between Friday closings and Sunday openings. This could lead to a scenario where either you can’t complete your order on a particular day or that you might have to do so on a less reasonable price.
Certain market conditions can make it difficult, or sometimes even impossible to liquidate a position. This is a possibility in the condition when the market climbs to a daily price fluctuation limit.
The blockchain network involves certain risks as well. However, unfortunately, this independent peer to peer network is not managed or controlled by BitXmi in any manner. Hence, you will be held to any changes in the blockchain system which can include taking measures that are not necessarily in your favor. We at BitXmi take no responsibility for any changes in blockchain policies and alterations.OPERATION OF CRYPTOCURRENCY PROTOCOLS
The software protocols used are open source and can be used, copied, and modified by anyone. BitXmi is not liable for any of these software protocols and their security and availability. Unanticipated operating rules, also known as forks, are known to affect the function and value of your cryptocurrencies. If a fork occurs, BitXmi may have to suspend trading operations across its platform as well as configure or reconfigure its systems and decide not to support the protocol. What’s more, BitXmi may have to make some changes and alterations in your account in such a case.THIRD PARTIES’ RISKS
Orders can be executed, and fiat money can be held by BitXmi through third parties in some cases. These third parties do not constitute banks and any losses against you are not legally protected to cover you even if the third party is registered with any of the authorities. Customer assets can be lost in such cases, and it must be clarified that ABC will not be responsible for any losses in these cases.DELISTING and UNSUPPORTED CRYPTOCURRENCIES
It is possible that the cryptocurrencies involved in your order are delisted or unsupported by BitXmi with time. In this case, your application order will be shut down at once. If we are notified that any cryptocurrency in your account is likely to be delisted, we will make an effort to sell the cryptocurrencies on your behalf to minimize loss.
System errors and system failures are problems that can arise and can lead to delay or failure of order placement. It must be understood that your trading practices can be affected by problems such as failure of hardware and/or software, internet disconnection, the risk of third parties gaining unauthorized access to your information, software viruses, cyber-attack, cryptocurrency network failure, communication failures, errors, disruptions, and delays, etc. What’s more, malware such as spyware and Trojan horses can cause damage to your computer or other devices as well. It should also be noted that SMS and email services are prone to attacks as well and you should be cautious when checking your messages to see if they are from us.FEES AND COSTS
Our charges regarding every service are listed on our website. Review them carefully and understand that all fees apply to you as this affects your profitability.INFORMATION
Any news, opinions, research, analyses or any other information shared here serves as general market commentary and does not constitute advice in any manner. It must be understood that BitXmi will be liable for any losses sustained by its traders or for any unstable conditions in the market.PAST PERFORMANCE
The value of future investments cannot be determined by an evaluation of past performances. Your performance can lead to either losses or profits, regardless of how you might have fared in the cryptocurrencies trading world.CURRENCY RISK
Your account with BitXmi will be held in USD. You must keep track of any fluctuations in currency if the currency of your deposit is different from this.