Indeed, many used to hold the strong belief that trading volume is a good measure of liquidity. However, in recent years, more and more studies have shown that high trading volume does not necessarily imply high liquidity. This is true, especially from our perspective, since some exchanges have been known to directly or indirectly engage in a form of market manipulation called wash trading, in order to give unsuspecting traders the illusion of liquidity.

Generally speaking, liquidity is how easily an asset or security can be bought or sold in the market, and converted to cash. From the cryptocurrency exchange and its traders' perspective, there are three common measures on market liquidity:

• The most popular and crudest measure of liquidity is the bid-ask spread, which is also called width. A low or narrow bid-ask spread is said to be tight and tends to reflect a more liquid market on the exchange.
• The second measure is depth, which refers to the ability of the market to absorb the sale or exit of a position. If it takes a huge amount of capital to crash the cryptocurrency price in a top 5 market by a small percentage, the exchange is considered to have excellent liquidity.
• Finally, the last measure--resiliency refers to the market's ability to bounce back from temporarily incorrect prices. If an exchange often exhibit lasting bizarre market prices for major trading pairs, it is a very convincing indicator of poor liquidity.

That's a really useful article for everyone who's considering to start margin trading! Cryptowisser team made a great job writing it. BaseFex as crypto margin exchange is also encouraging traders to get some margin experience and explore a whole new world of crypto derivatives, with associated higher risks taken into consideration.

If your belief is BTC will go up, go with BTC because you will be doubling the long.
But if you are uncertain of BTC's future price, you might want to consider using a stable coin because you won't be suffering, or gaining, from BTC's volatility.

We were the world's first to offer USDT perpetual contracts and that was under a lot of traders' request. Right now we are witnessing larger turnovers on USDT-based pairs than BTC-based pairs (probably because of the dip):

We are based in Beijing, China, but our exchange is registered Seychelles.


We do not enforce KYC checks, and one of the principles we follow is borderlessness.

Yeah, you may use this link https://www.basefex.com/register/nmhXHc
You will get 10% commission discount

We are not here to call names. And for sure we are not accusing anyone in unrighteous actions. We just commit ourselves not to fall in this abyss. We believe in the spirit of crypto freedom, transparency, and integrity, and we are ready to stand our ground.


We want the crypto community to know our pledges, so in time everyone will see that we are actually following them.

Today, the BaseFEX team has decided to announce the following solemn commitments to the global crypto community.

• Respect for the users’ privacy. We will never require KYC/AML checks from our users, nor do we disclose user data to any authorities and governments.
• Personalized customer care. We treat every trader like a real person, not a number, and we strive to provide every trader with personalized support as best as we can.
• Transparency. There is no hidden fees or any kind of secretive system setups in our system, and we do not use our system to take advantage of users in any circumstance.
• Financial ethics. We do not conduct any kind of market manipulation.

These commitments are in line with BaseFEX’s newly-defined brand values, which we believe are the common objectives shared by the global cryptocurrency community:

• Respect for Privacy
• Security
• Decentralized
• People-powered
• Boundless
• Transparent

We, therefore, pledge our unstinting support for these common values and our determination to fulfill them.

BaseFEX Team Nov 1st, 2019

Start trading now!

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.



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.

If anyone is looking for futures trading platforms, we have compiled a list for everyone's reference.
https://www.basefex.com/docs/crypto-futures-exchanges-comparison

BaseFEX Team

If anyone is looking for alternatives, we have compiled a full list for everyone's reference:
https://www.basefex.com/docs/crypto-futures-exchanges-comparison

Good look with your margin trading, be it spot or perpetual contract!

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

You are probably doing market orders since you are being charged fees.
The thing is, in margin trading, the takers fees are calculated with your (leveraged) position value, not your margin. So your position value is way larger than your margin, and that's the basis of calculation for taker fees.

If you do margin trading with more than x5 leverage you can possibly earn big bucks from day trading.
Source: what we have seen among our users. Plenty of them open and close positions within a day.

You can always short cryptocurrencies with futures trading/margin trading. Although it is mostly a sophisticated traders' thing.

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.

Just DMed you. Thanks!

We are an exchange ourselves, and we think exchanges shall never collect KYC info from customers because, hey guys, let's face the uncomfortable reality:

We, as small-to-medium size businesses ( let's admit it guys, even the largest exchanges shall be considered mid-size business by real world standard), are not as sound as government agencies in terms of cyber security and the short history of crypto we have lived through has already proven this point hundreds of times. And, if a hack does occur, we don't have the kind of resources nor the legal authority to track down and arrest hackers and retrieve the lost KYC info.

Collecting KYC info jeopardizes our customers' privacy, and also infringes the original spirits of cryptocurrency. That's why we as a team decide we will never make KYC requirements. Period.

Sadly, some government agencies are making these inconsiderate requests that equally jeopardize their citizens' privacy.

https://cointelegraph.com/news/binance-acquires-seychelles-based-crypto-asset-trading-platform-jex

Welcome to the game, big guy

No government is capable of banning cryptocurrencies due to the decentralized nature. In the early days of crypto there were attempts similar to what you say but none of them ever worked.
All kinds of cryptocurrencies are already circulating at large volume in the country.

The cryptocurrency will be the indisputable choice of the future's digital financial systems that any wise authorities should see. The question remains to be answered by governments and central banks around the world is how they want to sort out the tension between their fiat and cryptocurrencies. So far no one has succeeded on this. But regardless of what they decide, they will by no means allow corporations like Facebook to get the coinage rights. Never.

There is indeed a small research group, more like an internal think tank, inside the People's Bank of China. What that group says indicates only what they think, not what the entire the People's Bank of China think. But allowing that small research group to say things regugarly publicly does suggest PBOC's favorable stance upon this China-crypto.

A national cryptocurrency is a big deal that PBOC will by no means decide for themselves. They would need support from Ministry of Industry and Information Technology, National Development and Reform Commission, and Ministry of Finance, as well as no-objection stance from Ministry of Finance, and Ministry of Commerce.

Decision of this latitude is also likely to be brought to Politburo for discussion.

So don't get too excited about what a small research think tank in PBOC says.

Disclaimer: Beijing-based crypto futures exchange here.