What is Pionex Exchange? Instructions for registering and using Pionex from A-Z
What is Pionex Exchange? This article guides you on how to register an account and use Pionex Exchange in the most detailed and easy-to-understand way.
In the current Crypto market, you have many options for trading. From familiar centralized exchanges such as Binance, Huobi, Bittrex, OKEx, KuCoin… to newly emerging decentralized exchanges such as Binance DEX, Kyber Network, IDEX… But most of these exchanges have basic trading tools such as: Limit Order, Market Order, Stop Limit Order… but do not support other trading tools/bots.
With the diverse trading needs today, an exchange that integrates trading bots will be an option that you cannot ignore.
In today’s article, I will introduce you to Pionex Exchange. It not only allows you to buy and sell Crypto with regular buy/sell orders, but also integrates effective trading bots to diversify ways to make profits in this market.
What is Pionex?
Pionex is a Crypto exchange. In it, they integrate many trading bot tools/tools to support users to diversify ways to make profits from the market. This is the difference and advantage of Pionex compared to other exchanges. In this article, I will introduce to you in detail how to use these trading bots.
Some information about Pionex
This is an exchange invested and directly supported by BitUniverse. Pionex was established in Singapore and licensed to operate here.
What is the relationship between Pionex and BitUniverse?
Pionex has a close cooperative relationship with BitUniverse. Previously, BitUniverse was an application (on mobile devices) founded in 2018 and reached 1 million downloads by the end of that year. This application has called for 10 million USD from investment funds Banya Capital, Shunwei Capital and Zhenge Capital.
The cooperation between Pionex and BitUniverse will bring technology and especially trading bots from BitUniverse to this exchange. At the same time, technically, BitUniverse will also ensure the safety of users’ assets on Pionex.
Currently, you only need to have an account of 1 of the 2 applications, Pionex or BitUniverse, to be able to log in to the other.
Promotion Pionex
Pionex Exchange Review
Advantages
Here are the outstanding advantages of Pionex Exchange:
The exchange supports 5 types of trading bots
Including: Grid Trading, Infinity Grids, DCA, TWAP and Trailing Take Profit. In the future, there will be more types of bots and trading support tools for users. This is the biggest advantage of Pionex that many other exchanges do not have. With these bots, you can “Make more money while sleeping” – earn money even while sleeping.
The exchange takes liquidity directly from 2 large exchanges, Huobi and Binance. In the near future, they will link with other exchanges to diversify liquidity.
Low transaction fees
You can refer to the comparison table below between Pionex and other exchanges.
The exchange regularly organizes Trading Competition programs
This helps attract more users and at the same time creates liquidity for participating project tokens. The most recent is the ongoing Litecoin Campaign.
Disadvantages
Of course, Pionex also has some of the following disadvantages:
The exchange has just launched, so the number of trading pairs on it is still small. You can only trade some popular Crypto coins such as: Bitcoin, ETH, USDT, BNB, HT, ALGO, LINK… The top coins are also available for traders to trade. In the future, they will list more trading pairs.
The exchange does not support Stop Limit Order or Margin features.
The exchange does not support Vietnamese.
The exchange does not have its own trading app. However, if you still want to use the above trading, you can fix it by using the BitUniverse application.
Instructions on how to register an account on the Pionex exchange
In this section, I will guide you on how to register and KYC the Pionex exchange.
Preparation before registration
At the present time, Pionex does not require KYC, so you do not need to prepare much. Just 1 email to register is enough.
Register for a trading account on Pionex exchange
To register for a Pionex exchange account, please visit the following link: https://pionex.com/en-US/sign
By registering via the above link, you will receive 5 BUB when the trading volume reaches $20k and another 5 BUB when the trading volume reaches $50k.
BUB is the token of BitUniverse (this is also a strategic partner of Pionex), you can use BUB in both BitUniverse and Pionex applications.
At the Sign Up interface, please note:
[1] Enter the registered email address.
[2] Enter the password.
[3] Click the Send button so that Pionex can send the code to the email above. Then enter this code in the box on the left.
[4] Enter the Invitation Code (if any). The referral code to support is: 0uQhxqe1
Finally, click Sign Up to register. That completes the account registration step.
KYC Identity Verification
At the present time (August 2019), Pionex does not require KYC accounts, so you do not need to do this step. According to information on their group chat, from Q4/2019 onwards, users will have to authenticate KYC. I will update the information for you then.
Enable 2FA 2-layer security
To set up 2-layer security Google Authenticator or Authy, you can access directly at: www.pionex.com/en-US/googleAuthenticator
The steps to set up the 2FA code are similar to the settings for other exchanges. You can easily set up.
Instructions for using Pionex
In this section, I will guide you in detail on the basic operations of using Pionex.
Introduction to the trading interface on Pionex
Pionex’s trading interface is quite similar to most other exchanges.
[1] List of Trading Pairs.
[2] Select the types of trading orders. Including Manual (manual) Buy/Sell Limit, Market and Trading Bot orders.
Regarding how to use trading bots, I will introduce them in detail below.
[3] Chart window.
[4] Available Buy/Sell Orders.
[5] History of executed Buy/Sell Orders.
Instructions for depositing Crypto into Pionex
Before trading on Pionex, you need to deposit Crypto into the exchange.
Click on the Account >> Deposit button.
At this interface, you choose the type of Crypto you want to deposit into the exchange.
Currently (August 2019), Pionex only allows deposits of the following coins: BTC, ETH, USDT (Ohmni), USDT (ERC-20).
Hopefully in the near future, they will allow withdrawals and deposits of many other Crypto types.
Once you have your wallet address on Pionex, you can transfer coins to it and you’re done.
Instructions for withdrawing Crypto from Pionex
Withdrawing Crypto is also quite simple.
Access Account >> Withdraw.
Then, click on the wallet address and the amount you want to withdraw >> Click Submit.
You will have to access the registered email to re-authenticate this withdrawal.
Basic Pionex trading instructions
After having Crypto on the Pionex exchange, you can trade it.
For basic buy/sell transactions, look at the lower right corner of the trading interface. Here I will take the example of the BTC/USDT pair.
[1] Manual Limit: Is a buy and sell order at the desired Limit price.
Select Manual Limit >> Enter the desired price >> Enter the amount of BTC >> Click the Buy/Sell button.
[2] Manual Market: Is a buy and sell order at the Market price.
Select Manual Market >> Click the amount of BTC >> Click the Buy/Sell button.
Instructions for using Grid Trading Bot
In the Trading Bot box, select CREATE in Grid Trading as shown in the picture.
Here you will have 2 options as follows:
Use the suggested set up feature with USE AI STRATERY: You just need to enter the amount of BTC you want to participate in Grid Trading and then click Create and you’re done.
Set up the Bot parameters yourself with SET MYSELF. Here you are required to calculate and enter the parameters yourself:[1] Upper limit price: Enter the limit price ABOVE.[2] Lower limit price: Enter the limit price BELOW.[3] Stop-loss price: Enter the Stop-loss price. This is optional, you can ignore it.[4] Grids quantity: Click the Grid quantity for the bot.[5] Quantity per grid: Enter the amount of BTC you want to trade in each Grid order.
Instructions for using Infinity Grids Bot
Infinity Grids is a type of bot upgraded from Grid Trading Bot.
It allows you to not set the Upper Limit Price, but just let the bot run “infinitely” in the true sense – the price goes up so much that the bot trades and makes a profit.
You also have 2 options:
USE AI STRATERY:
Use the AI feature, recommended by Pionex. You just need to enter the amount of BTC you want to participate in, then select CREATE.
SET MYSELF:
[1] Lowest Price: Enter the lowest price.
[2] Profit: per grid (0.1% ~ 10% required): Enter the desired profit rate.
[3] Total investment: Enter the total amount of BTC you want to participate in the Bot. Then click CREATE.
To learn about the operating mechanism of Infinity Grids.
This bot is suitable for sideways markets and tends to increase over a long period of time.
Instructions for using DCA Bot
Dollar-Cost Averaging or DCA is a term that many of you must have heard know and use.
You can DCA manually – place your order at the desired time points. However, this method will take you a lot of time and effort.
The DCA feature has been integrated by Pionex.
Click CREATE in the DCA area.
In the next interface, please note:
[1] Select the type of Crypto you want to DCA.
[2] Select the time frame you want to buy. For example, here I choose 1Hour. That is, every 1 hour, the bot will automatically buy the exact amount of BTC that I set up in [3]
[3] Enter the amount of money you want to buy for each order. After submitting, click START to start.
As shown in the image above, the bot will automatically buy 3 USDT (BTC) every hour and I need 504 USDT to run the bot for 1 week.
Guide to using the Trailing Take Profit bot
If you use BitUniverse, you are probably familiar with this Trailing Bot feature.
In the setup interface of Trailing Take Profit, you set it up as follows:
If USDT is not available (HAVE NO USDT):
[1] Buy Price: Enter the BTC price you want to buy.
2] Trailing Percent: Enter the % of Trailing Bot.
[3] Buy USDT: Enter the amount of USDT used to buy BTC. Then click BUY & TAKE PROFIT to start running the bot.
If USDT is available (I HAVE USDT):
[1] Trigger Price: Enter the BTC price you want to start running the bot.
[2] Trailing Percent: Enter the % of Trailing Bot.
[3] Sell USDT: Enter the amount of USDT you want to join the bot. Then click TAKE PROFIT to start running the bot.
Trailing Bot is suitable for the coin pump market, but you do not know how much the coin will increase to close the profit.
This feature will help you optimize the highest possible profit minus the initial % set up.
Instructions for using the Time Weighted Average Price (TWAP) feature
Time Weighted Average Price (TWAP) is a new bot feature of Pionex. It helps you to be hands-free when executing large volume buy/sell orders.
This strategy is as follows, for example, you have a large amount of USDT and want to buy BTC. If you place a buy order at a price, it will easily affect the price of BTC.
When using TWAP, the bot will automatically divide this BTC buy order into many different small orders within a pre-set time period.
Here are 2 parameters that you need to enter:
Enter the total capital that you want to trade.
Enter the time frame that the bot will execute the buy order.
TWAP bot is used for those who want to trade a large amount of Crypto without affecting the price of that Crypto.
Experience using other features on the Pionex exchange
How to trade margin on the Pionex exchange
Pionex exchange currently does not support margin trading.
For those interested in margin trading, you can refer to the following exchanges: Snapex, FTX, AscendEX (BitMax),..
How to use the stop-limit function on Pionex
Pionex does not have the Stop-limit feature yet.
How to use the API key on Pionex
Pionex does not support API yet.
According to the exchange admin, in the near future, this exchange will launch an API to serve trading through 3rd party applications.
How to get a ref link to introduce Pionex
To get a ref link, select the Account section in the upper right corner and then click the Referral Program button.
Here, you will see the Referral Link and Referral Code.
Copy this Ref and send it to your friends to register to receive the benefits of the referrer.
How to fix the problem of losing 2FA on Pionex exchange
When losing 2FA, you can do the following to restore it: Chat directly with the admin on their official Telegram channel, or send a support email:
Telegram: https://t.me/pionexen
Email: service@pionex.com
How to contact Pionex support
Click on the Support button above. Then select Customer Service to choose the appropriate support links:
If you need to find out any information about Pionex exchange, you can access the following link: https://pionex.zendesk.com/hc/en-us
Frequently asked questions when trading coins on Pionex exchange
Should you trade on Pionex exchange?
I will let you answer this question yourself.
Although there are not many trading pairs yet, this is understandable because this is a new exchange. In the near future, they will add other coin lists.
If you are participating in the market mainly trading top and popular coins, Pionex is still comfortable to meet your needs at this time.
In addition, for those who want to use Trading Bots to participate in the Crypto market, Pionex is the best choice at the moment.
Is Pionex safe and reputable?
Yes!
Since the exchange began operating until now, there have been no issues related to the exchange’s security.
All investors’ assets are always carefully secured with the support and experience of the BitUniverse team (Pionex’s strategic partner).
What is the transaction fee on Pionex?
Maker fee: 0.05%
Taker fee: 0.05%
Has Pionex been hacked?
No!
Since its operation until now, Pionex has never been hacked.
What is the deposit/withdrawal fee on Pionex?
Deposit: Free.
You can refer to the table below for withdrawal fees.
What is the deposit/withdrawal fee on Pionex?
Does Pionex exchange often have maintenance errors?
No!!
I have used it for a while and have never encountered any errors or problems related to system maintenance.
Is Pionex exchange a scam?
No!
This is a Crypto exchange officially registered in Singapore, they are a strategic partner with BitUniverse.
Which country is Pionex exchange from?
Pionex exchange is registered in Singapore.
What is Pionex exchange coin?
Pionex currently does not have an exchange coin.
However, according to the trend of Crypto exchanges, in the future, Pionex may issue exchange coins.
When there is official information, I will update you.
Does Pionex exchange support Vietnam?
No!
At the time of writing the article (August 2019), Pionex exchange does not support Vietnamese interface.
Pionex team operates on Telegram groups in English.
What is the deposit and withdrawal limit on Pionex?
Currently, Pionex does not require KYC, their withdrawal limit is relatively low compared to many other exchanges:
Does Pionex have an app on iOS, Android?
Currently, there is no app on mobile devices.
Which trading markets does Pionex support?
Users around the world can access and use Pionex.
Currently, this exchange supports the following languages: English, Chinese, Korean, Bahasa, Deutsch.
Does Pionex organize IEO?
Currently, Pionex does not have an IEO program like many other large exchanges.
Another new exchange for those in the Crypto market. This exchange is especially suitable for those who want to use trading bots to make a profit from the market.
Have you experienced this exchange? What do you think about Pionex? Please comment below so we can discuss this new exchange.
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