Biconomy Review 2024

Our veredict

Biconomy is a versatile cryptocurrency exchange known for its user-friendly interface and competitive trading fees of 0.20% for both makers and takers. This makes it an attractive option for both new and experienced traders. The platform supports mobile trading with apps for Android and iPhone, and offers over-the-counter (OTC) services for large volume trades, ensuring efficient and discreet transactions.
However, Biconomy has some drawbacks. The lack of transparent information on withdrawal fees is a concern for investors, and the platform does not offer advanced trading features or margin trading options, which may limit its appeal to more experienced traders.

Pros

Cons

3,2

Threenvest Score

Fees

0.10% (Maker), 0.15% (Taker)

U.S Legal

Yes

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At Threenvest, we are unwaveringly committed to providing you with unbiased ratings and information. Our editorial team operates independently, free from any advertising influence. We use meticulous, data-driven methodologies to evaluate financial products and companies, ensuring that all assessments are conducted on a level playing field.

To better understand our editorial guidelines and the investment methodology that supports our ratings, you can explore the information in our editorial policy.

Why choose Biconomy?

Choosing Biconomy as your cryptocurrency exchange offers several compelling advantages. Firstly, Biconomy provides a highly competitive trading fee structure, charging only 0.20% for both makers and takers. This makes it a cost-effective choice for frequent traders. Additionally, the platform’s user-friendly interface and mobile app support for both Android and iPhone ensure that trading can be done conveniently and efficiently, whether you’re a beginner or an experienced trader.
Furthermore, Biconomy stands out by offering over-the-counter (OTC) services. This feature is particularly beneficial for users dealing with large volumes of cryptocurrency, as it allows them to execute significant trades without impacting market prices. Such services are crucial for maintaining liquidity and minimizing slippage during large transactions. The platform also supports fiat deposits, making it easier for newcomers to enter the world of crypto trading without the need for prior crypto assets.
Despite these strengths, it’s important to note that Biconomy has some areas for improvement. The lack of transparent information regarding withdrawal fees is a concern, as undisclosed fees can potentially lead to unexpected costs for users. Additionally, the absence of advanced trading features and margin trading options may limit the platform’s appeal to more sophisticated traders. Nevertheless, for those seeking a straightforward, reliable, and cost-effective trading platform, Biconomy presents a solid choice.
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EIP and Cryptocurrency Investor

As an expert in the field, I recommend Biconomy for its user-friendly interface and competitive trading fees, making it suitable for both new and experienced traders. The availability of mobile apps for trading on the go is a significant advantage. However, it’s important to note the lack of transparency regarding withdrawal fees. Overall, Biconomy provides a solid platform with beneficial features like OTC services, which can be particularly useful for those dealing with large volumes of cryptocurrency.

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

 

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).


For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

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Economist | Cryptocurrency exchange analyst

The author of the review

Alejandro Borja is an accomplished economist with a distinguished career spanning various facets of the financial industry. His academic journey began with a degree in Economics, laying the foundation for his deep understanding of financial markets.

Over the years, Alejandro has honed his skills by working with some of the largest financial media outlets, analyzing and reporting on economic trends and investment opportunities. His expertise in financial analysis has made him a respected voice in the economic community.