What’s in store for crypto exchanges this bull run — Interview with BingX

From social trading to comprehensive educational resources, this platform aims to make crypto trading accessible and secure for everyone
Nihatcan Yanik
Posted by Nihatcan Yanik May 20, 2024 6 Mins Read
From social trading to comprehensive educational resources, this platform aims to make crypto trading accessible and secure for everyone

Presented by BingX

Cryptocurrency exchanges play a pivotal role in driving crypto adoption and expanding the ecosystem by bridging the gap between traditional finance’s tried-and-tested dynamics and digital assets’ innovative space.

Designed to welcome new and seasoned traders, global crypto exchange BingX aims to break down concerns associated with learning to trade by providing tools and products that cater to crypto newcomers so they can safely learn to trade within their risk tolerance. The platform is known for its social trading features, housing a large community of copy traders.

“BingX has a trading product for everyone,” BingX chief product officer Vivien Lin told Cointelegraph, adding:

“From investing to spot trading and everything in between, we have products for traders of all levels to feel empowered.”

Vivien Lin leads the product team, focusing on derivatives, asset management and user experience and actively driving innovations and strategies. With close to a decade of experience in trading, product management and market development, Lin has cultivated her expertise in forex and equity derivative products through pivotal roles at reputable institutions such as Morgan Stanley, BNP Paribas and Deutsche Bank.

In this interview, Lin takes an insightful glimpse at the state of the crypto ecosystem and how BingX works to shape the market’s future.

Cointelegraph: How do you see the role of cryptocurrency in the broader macroeconomic landscape?

Vivien Lin: In the face of ongoing global economic uncertainties, cryptocurrencies are gaining prominence as alternative financial instruments that offer decentralization, transparency and potential for innovation in digital transactions. Their integration into the broader macroeconomic landscape is multifaceted, influencing areas like international remittances and investment diversification and as a potential counterbalance to fiat currency inflation.

Cryptocurrencies also prompt central banks and financial institutions to reconsider monetary strategies, leading to explorations in central bank digital currencies (CBDCs) that could reshape cross-border transactions and monetary policies.

However, the role of cryptocurrencies is tempered by challenges such as market volatility, regulatory scrutiny and concerns over illicit use. The evolving regulatory framework will be crucial in determining their mainstream adoption and impact on financial stability.

CT: What trends are you observing that could significantly impact the crypto market?

Vivien: One significant trend we are observing is the global adoption of stablecoins. The adoption rate begs the question: Could stablecoins be crypto’s killer app? Stablecoins unify cross-border payments and remove costly intermediaries.

Additionally, crypto is finding institutional product-market fit with the Bitcoin Spot ETF and many similar products in the pipeline. On a long timeline, the daily inflows and outflows to the spot Bitcoin ETFs since their approval are remarkable and set records almost daily.

CT: How does BingX’s “Empowering Traders” philosophy manifest in your platform’s features and services?

Vivien: For six years now, BingX has dedicated itself to cultivating an inclusive environment that empowers every trader, regardless of their experience level, to confidently dive into cryptocurrency trading opportunities from the very start. Our philosophy of putting the user first guides every decision we make. By ensuring that our users are always the main focus of our efforts, we enable them to stay ahead and continuously enhance their cryptocurrency trading experience.

Additionally, we pride ourselves on being reliable and dedicated to delivering a secure platform, ensuring 100% protection of user assets alongside round-the-clock global support. Innovation remains pivotal for us as we continuously introduce fresh features and strategies to enhance users’ trading expertise. Lastly, we emphasize being diversified by offering a wide array of products and services catering to users of varying proficiency levels.

CT: How is BingX innovating to stay ahead in the highly competitive crypto exchange landscape, especially considering the integration of social responsibility into its business model?

Vivien: We have always taken social responsibility seriously. We recognize that a strong and healthy global community is the backbone of BingX. BingX was founded in 2018, and just one year later, we established the BingX Charity — one of the earliest exchanges dedicated to making the world a better place. Since its establishment in 2019, BingX Charity has been actively engaged in philanthropic endeavors.

With partnerships between organizations like The Whale and Dolphin Conservation, A Brighter Future For Children and donations to many natural disaster relief efforts, these initiatives mark a significant step forward, highlighting our exchange’s steadfast dedication to social and environmental responsibility.

CT: BingX is also known for its multi-sectoral collaborations and sponsorships. Can you walk us through some of the key partnerships you signed recently?

Vivien: Developing valuable partnerships that align and reinforce BingX’s “Empowering Traders” campaign has been key to growing our global community of like-minded traders. We are proud to partner with Chelsea F.C. as the official crypto exchange partner and jersey sleeve sponsor, which marked the start of a multi-year collaboration.

Also inspired by the same initiative, BingX partnered with UFC fighters Junyong Park and Da Woon Jung. This partnership aims to connect the vibrant realms of cryptocurrency and the world of mixed martial arts. The shared philosophy among fighters and traders can best be described as “Making Your Own History.”

The final highlight is our partnership with CertiK, a renowned blockchain security firm. The partnership between BingX and CertiK is focused on bolstering the security and reliability of the BingX platform, ensuring users have a safer and more trustworthy trading experience.

This enables BingX to retrieve security scores generated by CertiK, which will be showcased on the BingX website. By accessing this data, users can gain valuable insights into the security status of different blockchains and Web3 projects, empowering them to make more informed decisions when engaging in trading activities on the platform.

CT: With a $10 million allocation to the BingX Charity Fund, what are your philanthropic efforts’ key achievements and impacts to date?

Vivien: BingX Charity has been making a positive global impact as the philanthropic arm. After Hurricane Otis, it aided affected communities in Mexico. The relief fund was donated to aid earthquake victims in Turkey with urgent needs and facilitate transportation services for essential supplies amid challenging conditions.

The “Bright Horizons for Children” initiative raised funds for a new school in Vietnam. Collaborating with local partners, it furnished three classrooms, modern facilities and a safe playground. Teaming up with Whale and Dolphin Conservation, BingX Charity works toward the long-term survival of these marine species, demonstrating a commitment to worldwide philanthropy and community welfare.

CT: With your diverse sponsorships and charity work, what is BingX’s long-term vision for its role in the crypto industry and its impact on society?

Vivien: This all circles back to our goal of “Empowering Traders.” We recognize that there are many use cases for crypto. BingX is a place where each trader leverages our platform to achieve their specific goals. From banking the unbanked to advocating for financial freedom and everything in between, we strive to have many impacts.

BingX’s long-term vision, resonating with our slogan, Empower the Traders, is to establish a robust connection between the dynamic world of cryptocurrency and mainstream society. By sponsoring prominent entities like Chelsea F.C. and UFC fighters Junyong Park and Da Woon Jung, we aim to elevate the visibility and acceptance of digital assets across various demographics, fostering a broader understanding and adoption of cryptocurrency. These partnerships reflect our commitment to integrating the innovative spirit of crypto with popular culture and sports, creating a platform that is accessible, reliable and beneficial for traders globally.

Our charity work and community initiatives further demonstrate our dedication to social responsibility and the positive impact we aspire to make beyond the trading world. BingX envisions a future where cryptocurrency is a fundamental part of the economic fabric, driving financial inclusion, innovation, and growth. Through our efforts, we seek to empower individuals and communities, equipping them with the tools and knowledge to thrive in the evolving digital economy.

Learn more about BingX

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you with all important information that we could obtain in this sponsored article, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor can this article be considered as investment advice.

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