[ANN] BaseFEX - Crypto Derivatives Exchange You Can Trust

BaseFEX

copper member

Activity: 45

Merit: 0

Quote from: Naster on September 23, 2019, 05:50:07 AM

I have just two questions:
- how does it come that you don't require any KYC?
- What are the limits?

We consider ourselves believers of the original spirits of cryptocurrency. Therefore respect for our users' privacy and data security are more important for us than what all these exchanges get in return from KYC obedience.
No limits associated with no KYC at all. We do not require KYC for any of our services.

Quote from: Naster on September 23, 2019, 05:50:07 AM

You said all withdrawals are checked manually, which isn't bad. However how long does it take?
I remember having seeing withdrawals on Huobi which took 48 hrs because no one was able to check it and approve.

Currently we have one manual withdrawal audit everyday at 3pm UTC+8.So let's say you submit a withdrawal request at 2pm UTC+8, your request would be handled in 1 hour. If you do that at 4pm, your request will be handled 23 hours later, which is the longest you can wait.
And we plan to increase the frequency of manual audits in respond to users' feedback. Hopefully that can happen soon.

Naster

sr. member

Activity: 699

Merit: 274

Crypto Currency Exchange, IPTV, AWS

Quote from: BaseFEX on August 02, 2019, 04:18:40 AM

Quote

What is the country of origin?

- We are registered in the Republic of Seychelles with a company number of 205276. Operate from Beijing - That's why we have Alibaba and Huobi former employees among us.

Quote

Please show us some information about team, and are some countries forbidden for registration.

- You can search BaseFEX on LinkedIn. But most team members don't have LinkedIn profiles as its penetration rate is quite low in China - we got 20+ employees in total. I will try to take a picture with the people working in our office later. But I guess I will need to blur the faces otherwise I would need permission from everyone.
- https://www.basefex.com/docs/terms-of-service

KYC info.
- no requirements

I have just two questions:
- how does it come that you don't require any KYC?
- What are the limits?

Quote from: BaseFEX on August 02, 2019, 03:19:16 AM

100% Cold Storage. All your assets are held in multi-signatured cold wallets. All withdrawals are checked manually.

You said all withdrawals are checked manually, which isn't bad. However how long does it take?
I remember having seeing withdrawals on Huobi which took 48 hrs because no one was able to check it and approve.

BaseFEX

copper member

Activity: 45

Merit: 0

See it now. Thanks a lot!
Wish you guys good luck and become the CMC of futures and contracts

indexprotocol

copper member

Activity: 134

Merit: 10

Founder/CTO at CoinIndex and ContractMarketCap.com

Products added per market (e.g. BTC or BNB). And exchange page for each connected platform.

BaseFEX

copper member

Activity: 45

Merit: 0

Quote from: indexprotocol on September 04, 2019, 01:50:11 AM

Good news, today we starting connection to your exchange. Announce will be soon.

Can you check from your side, after 1... 2 day - accurateness of market data and announce for your users at news feed|blog/twitter etc.?

Updated: Connected and your data represented at our portal - announced there (and few analysis moments).

First place at BNB market - Awesome! 💪

Thanks for including us!
I took a look at https://test.contractmarketcap.com but it doesn't seem the data is being properly synced right now. I will check it again next week.

indexprotocol

copper member

Activity: 134

Merit: 10

Founder/CTO at CoinIndex and ContractMarketCap.com

Good news, today we starting connection to your exchange. Announce will be soon.

Can you check from your side, after 1... 2 day - accurateness of market data and announce for your users at news feed|blog/twitter etc.?

Updated: Connected and your data represented at our portal - announced there (and few analysis moments).

First place at BNB market - Awesome! 💪

BaseFEX

copper member

Activity: 45

Merit: 0

Quote from: indexprotocol on September 02, 2019, 04:08:57 PM

Awesome work, great!

We are the world's first derivative market data platform - ContractMarketCap.com and we hope listed your exchange and adding your data to our markets overview.

If I have o some questions about API and some details, who can help me? Lot of thanks!

Just DMed you. Thanks!

indexprotocol

copper member

Activity: 134

Merit: 10

Founder/CTO at CoinIndex and ContractMarketCap.com

Awesome work, great!

We are the world's first derivative market data platform - ContractMarketCap.com and we hope listed your exchange and adding your data to our markets overview.

If I have o some questions about API and some details, who can help me? Lot of thanks!

BaseFEX

copper member

Activity: 45

Merit: 0

To sockpuppet1911:

Forgive my candor but it does seem like you are new to crypto futures. It is a large deal that, if you know how crypto futures trading works, you will understand no trader is, will be, or was affected by it.
PNL is calculated with mark price which has nothing to do with a specific large deal because it is calculated this way:
Mark Price = Index Price * (1 + Funding Basis)
Funding Basis = Funding Rate * (Time Until Funding / Funding Interval)

and Funding Rate usually is very small itself like 0.0100%(source: https://www.basefex.com/docs/fees) so basically the Mark Price is just the Index Price in number. Index Price, in case you don't know, is the averaged spot market price from major spot market exchanges such as Binance, OKEX, Huobi and etc.

BaseFEX

copper member

Activity: 45

Merit: 0

Quote from: Dyn@styN3rd on August 06, 2019, 08:38:40 PM

I could be interested if you don’t use internal MM like BitMEX. Because when internal MM is happening, an exchange has incentive to cheat on users to be on the profitable end of the trade.

Absolutely no internal MM. That will eventually be a conflict of interest and some of our founders were burnt by that on MEX.
All of our MM are external.

RandG

newbie

Activity: 1

Merit: 0

Quote from: target on August 07, 2019, 12:40:13 PM

I wouldn't really have to comment negative here but I just want you to know about the Accusations to BaseFEX which is about them Plagiarized text from bitmex site and with the Anonymous Team posted in this thread https://bitcointalksearch.org/topic/fake-scam-accusation-5127951

There is also a scam accusation which a user lost 3BTC which he said in this post https://bitcointalksearch.org/topic/m.51681576

Refer to our official statement here. https://blog.basefex.com/uncategorized/a-statement-on-malicious-activities/

target

legendary

Activity: 2282

Merit: 1041

I wouldn't really have to comment negative here but I just want you to know about the Accusations to BaseFEX which is about them Plagiarized text from bitmex site and with the Anonymous Team posted in this thread https://bitcointalksearch.org/topic/fake-scam-accusation-5127951

There is also a scam accusation which a user lost 3BTC which he said in this post https://bitcointalksearch.org/topic/m.51681576

sockpuppet1911

sr. member

Activity: 994

Merit: 278

Quote from: BaseFEX on August 02, 2019, 03:19:16 AM

No Suspicious Wicks

Nothing suspicious here. Move on. But seriously, i didn't see many real buys on your exchange. Just bots playing.

BaseFEX

copper member

Activity: 45

Merit: 0

Quote from: TeraBite on August 06, 2019, 12:23:44 PM

https://bitcointalk.org/index.php?board=197

Is thread belong to service announcements board so it is better move this to that one. You created this topic into wrong place actually it is dedicated for only the altcoins.

Thanks a lot for letting me know. I will get in touch with moderators.

Dyn@styN3rd

member

Activity: 168

Merit: 10

I could be interested if you don’t use internal MM like BitMEX. Because when internal MM is happening, an exchange has incentive to cheat on users to be on the profitable end of the trade.

notblox1

legendary

Activity: 2086

Merit: 1282

Logo Designer ⛨ BSFL Division1

Quote from: BaseFEX on August 03, 2019, 04:41:35 AM

Quote from: notblox1 on August 02, 2019, 01:19:58 PM

Quote from: BaseFEX on August 02, 2019, 04:18:40 AM

Quote

What is the country of origin?

- We are registered in the Republic of Seychelles with a company number of 205276. Operate from Beijing - That's why we have Alibaba and Huobi former employees among us.

Quote

Please show us some information about team, and are some countries forbidden for registration.

- You can search BaseFEX on LinkedIn. But most team members don't have LinkedIn profiles as its penetration rate is quite low in China - we got 20+ employees in total. I will try to take a picture with the people working in our office later. But I guess I will need to blur the faces otherwise I would need permission from everyone.
- https://www.basefex.com/docs/terms-of-service

KYC info.
- no requirements

OK. thank you for answering.

Are you offering some promotion for sign up,
and what advantages you have compared to other exchanges?

They are all offering some free $

Are you offering some promotion for sign up. They are all offering some free $
- Yes. At this moment we have a twitter promotion campaign ongoing. You can try BaseFEX risk-free with money that's not yours. https://twitter.com/BaseFEX/status/1155876354518159360

What advantages you have compared to other exchanges?
- a lot as I mentioned in my OP such as no overload and low fees. The most important thing, however, is Integrity and Honesty. No Weird Slippage or Scam Wicks.
There are many exchanges out there, but what makes us stand out is those spirits that we live up to. And to test this, you can get a risk-free try as mentioned above.

OK. Thank you.
I will give it a try and test how it works.

One more question:
What is the procedure for listing new coins on BaseFEX exchange?

BaseFEX does not support: US, Cuba, Iran, N.Korea, Sudan, Syria, China, and Crimea part of Russia

TeraBite

legendary

Activity: 1876

Merit: 1003

https://bitcointalk.org/index.php?board=197

Is thread belong to service announcements board so it is better move this to that one. You created this topic into wrong place actually it is dedicated for only the altcoins.

BaseFEX

copper member

Activity: 45

Merit: 0

Quote from: cosmofly on August 06, 2019, 12:35:20 AM

Is BaseFEX expected to list some other alts? I see it has quite a bit of coins there.
You should add TRX, ICX, EOS because the trading volume is quite large. It can bring more profits to businesses and traders will have more choices.

We used to have 12 assets available but as response to customer feedback we had decided to delist a few. Some assets, at least in the sphere of crypto futures, are more like marketing hype than actual customer demands.
We will soon list USDT settled perpetual contract though, first in the industry!

BaseFEX

copper member

Activity: 45

Merit: 0

Quote from: AdamRay on August 05, 2019, 11:15:33 PM

I have tried to experience BaseFEX and it is really a perfect exchange type. With stoploss function and x100 lever at margin trading, this is really a great place for trading professionals.
But why is the community so small? I think we should promote exchange marketing, it's really comparable to Binance, Bitmax if well known.

Thank you for your review! We are working hard to make our platform the best place for crypto futures exchanges!
And yes, we have also recently started working on developing our online community presence.
Twitter: https://twitter.com/BaseFEX
Telegram: t.me/basefex_trading

cosmofly

full member

Activity: 532

Merit: 100

PrimeDAO - An Adoption Engine for Open Finance

Is BaseFEX expected to list some other alts? I see it has quite a bit of coins there.
You should add TRX, ICX, EOS because the trading volume is quite large. It can bring more profits to businesses and traders will have more choices.

Topic: [ANN] BaseFEX - Crypto Derivatives Exchange You Can Trust (Read 562 times)