Bitunix is a cryptocurrency derivatives exchange founded in 2021. Over the past four years, it’s quickly gained hundreds of thousands of users in more than 100+ countries. But, why use a newer, lesser-known exchange?
The reasons are three-fold: No KYC, low fees, and strong security.
For US traders, the situation is no different. In fact, its lack of KYC makes it popular among US traders who are looking for an unrestricted alternative.
The platform offers both spot and perpetual futures trading with leverage up to 125x. While lesser-known, Bitunix can hardly be claimed to be a small startup either, with daily trading volumes of over one billion USD across its half-a-million-plus user base. And, with partnerships with industry leaders, Bitunix is in a very competitive position.
Can you use Bitunix in the US?
Recent developments have created conflicting information regarding Bitunix’s US market access. Many ask, is Bitunix accessible in the United States?
The truth is that Bitunix has been legitimized as a Money Service Business in the US since 2022, and the platform is available to US traders. And, being an exchange that accepts non-KYC accounts, any American can sign up anonymously.
The exchange has continued its global expansion and is venturing into CIS regions and Latin America. Bitunix’s regulatory portfolio includes various countries around the world, but regardless of these international credentials, US traders are free to use the platform’s services.
Account Creation and Verification Process
Creating an account on Bitunix is straightforward and requires minimal information. Users can register using their email address, phone number or social media accounts such as Google, Apple and Facebook.
One of the platform’s major selling points is that it offers a no-mandatory-KYC policy, which allows for greater privacy and faster registration. Without Know Your Customer verification, users can withdraw up to $500,000 daily, which is more than enough for most traders. It also means being able to sign up from anywhere in the US with the benefit of anonymity.
Of course, those seeking higher withdrawal limits must complete the platform’s identity verification process, but this is redundant for most. This will mean providing government-issued documents and a selfie.
For users wanting to purchase crypto with fiat currency through Visa, Mastercard or bank transfers, KYC verification becomes more important. The verification process is to select your country of residence, upload identification documents and complete a facial recognition check.
Trading Features Available to US Users
Bitunix offers a comprehensive selection of trading options with over 300 spot trading pairs and 140 USDT-margined contract trading pairs. The platform has an advanced trading toolkit with well over 80 indicators. There is also a quick order pane and sophisticated charting tools that is conducive to comprehensively analysed trades.
Traders can access multiple features including spot trading, futures trading with leverage up to 125x and copy trading. The recently launched copy trading feature allows newcomers to automatically replicate experienced traders’ strategies. While this isn’t recommended to do blindly, it can be an interesting learning process, with customizable parameters for profit targets and stop-loss settings. You can learn more on Bitunix crypto blog about order types.
The platform provides a multi-window trading interface where users can monitor up to eight synchronized trading windows simultaneously. This feature enables efficient management of multiple positions and includes a Market Order Panel for rapid trade execution.
Bitunix trading capabilities include:
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- Support for major cryptocurrencies including BTC, ETH, USDT but also over 300 alt coins
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- Hedge Mode allows simultaneous long and short positions
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- Fiat currency support through various payment providers
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- P2P trading functionality
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- Staking features for earning rewards on idle balances
Security Infrastructure and Partnerships
Bitunix has proven itself to be a secure exchange for traders. The robust security measures exist via strategic partnerships with industry leaders. One example is the collaboration with Cobo for Wallet-as-a-Service implementation. This uses Multi-Party Computation technology that prevents private keys from being reconstructed at any single point. Their partnership with Nemean Services also provides $5 million in insurance coverage and implements cold storage solutions.
The exchange also undergoes regular security testing through partnerships with Hacken and Salus Security, further reinforcing its reputation. These firms conduct ongoing penetration tests to identify and address potential vulnerabilities. Tests as recent as October 2024 demonstrated Bitunix’s commitment to maintaining impressively high security standards.
The platform maintains impressive reserve ratios: 241% for BTC, 159% for ETH and 130% for USDT. Bitunix has also earned a BBB security rating on CER platform and an 8/10 Trust Score on CoinGecko.
While Bitunix is a new company, it has gone above and beyond to provide itself in terms of security. There are many competitive features available, and trading is done at a competitive price. It is possible for US traders to sign up and use the platform, and it’s even possible to do so anonymously due to the lack of KYC enforcement. The platform’s trajectory is to expand around the world and build on its 600,000-strong user base.
