BingX review
BingX is a centralized exchange that stores customer coins in its own wallets, with the majority kept in cold storage. The exchange enforces a strict ID policy: accounts that lack Advanced KYC, requiring a government ID and a selfie holding it, are unable to deposit or trade. Completing verification increases the daily withdrawal limit from 20,000 USDT to 5,000,000 USDT. BingX does not serve customers in the US. An intruder got into one of its hot wallets in September 2024, and BingX says it covered the losses from its reserves. In our view, BingX fits traders who accept a full ID check up front.
ID always
BingX always asks for ID, per its own pages.
Choose BingX if
Who BingX suits, from the values on this page.
BingX might not be the right fit if
- You want to skip ID checks: BingX's terms let it ask for ID.
- You do not want an account: BingX needs one.
- You want Monero: BingX does not list it.
- You live in the US: BingX is not available there.
- You want a service with no incident on record: BingX had one in 2024.
Inside BingX
What you get with BingX
Yes, no or partly, from our dataPrivacy 0 of 6
- No IDNo
- No accountNo
- Tor built inNot statedNot statedBingX's own pages we checked do not say. This is not the same as no.
- Onion addressNoNone published
- I2P addressNoNone published
- Works without JavaScriptNot statedNot statedBingX's own pages we checked do not say. This is not the same as no.
Coins 2 of 4
- BitcoinYes
- MoneroNo
- LightningNot statedNot statedBingX's own pages we checked do not say, checked Oct 14, 2026. This is not the same as no.
- ZcashYes
Custody and code 0 of 3
- You hold the keysNo
- Open sourceNot statedNot statedBingX's own pages we checked do not say, checked Oct 14, 2026. This is not the same as no.
- Address screeningNot statedNot statedBingX's own pages we checked do not say. This is not the same as no.
When can BingX ask for your ID?
Always, per BingX's own pages. Labels come from each provider's terms, never from our guess.
- 1Never, by designNo company holds your order, so nobody can ask
- 2Only if you chooseID only for extras you opt into
- 3If a payment is flaggedNo ID by default; checks when a risk system flags you
- 4Above a limitID once you pass a stated amount
- 5AlwaysBingX is on this stepID before you trade, deposit or withdraw
If a check comes and you do not pass it
BingX may immediately suspend the account and related accounts and freeze or lock the funds in them for any reason, including suspected violations; where practicable it may only restrict trading while still allowing withdrawal of any undisputed balance, but it may also restrict withdrawals for security, fraud prevention, preservation of assets or evidence, or legal compliance. Administrative holds on allegedly stolen funds can last until the dispute is resolved. Funds tied to prohibited trading can be frozen, withheld, deducted or retained.
“the Company shall have the right to immediately suspend your account (and any accounts beneficially owned by related entities or affiliates) and any Related Accounts, freeze or lock the funds in all such accounts, and suspend your access to the BingX platform for any reason [...] it may restrict trading and other Account functions while continuing to permit the User to log in, review Account records and withdraw any undisputed balance.”
What triggers a check: Any deposit or trade (Advanced KYC required); fiat currency and Launchpad; withdrawals: the system evaluates the account security status and abnormal risks may lead to manual review; suspected violations (Related Accounts, coordinated trading, prohibited trading): BingX may require complete materials or documents within a set time limit; reasonable doubt about the accuracy of provided information
Not stated on BingX's pages: fee on refusal, refund policyBingX's own pages we checked do not say. This is not the same as no.
Checked October 22, 2026
What BingX costs
| What | BingX |
|---|---|
| Trade fee | Spot VIP 0: 0.1000% taker and 0.1000% maker, lower for VIP tiers (Supreme VIP 0.0200% taker, 0.0050% maker); withdrawal fee per coin and network shown in the withdrawal form; internal transfers 0 fees. |
| No-ID limit | Unverified: deposits unsupported, no trading, 24-hour withdrawal maximum 20,000 USDT (only relevant for balances already on the account). Basic Verification: cumulative deposit 2,000 USDT, 24-hour withdrawal 20,000 USDT. |
What BingX knows about you
Who sees what during a trade, and who runs it.
During a trade
No ID check does not make a bank payment private.
Network and who runs it
Checked October 22, 2026
Track record and code
One hot wallet hack (2024, losses covered by BingX), three regulator warnings on I-SCAN.
Incidents
- 2024Sep 20, 2024: Unauthorized intrusion into one BingX hot wallet; deposits and withdrawals were suspended, withdrawals for major tokens resumed before 2024-09-21 and deposits from 2024-09-22; BingX states all user assets remained unimpaired and losses were covered from reserves. PeckShield estimated the loss at about $43 million (press).
- 2024Sep 20, 2024: Press report: PeckShield estimated the BingX hot wallet loss at $43 million; BingX called the losses minor.
- 2024Feb 20, 2023 to Jul 18, 2024: Investor warnings on IOSCO I-SCAN: Spain CNMV (HTTPS://BINGX.COM, 2023-02-20), Malaysia Securities Commission (BingX, 2024-05-07), British Columbia Securities Commission ("X-Bingx", 2024-07-18).
Checked October 22, 2026
Community
Discussions about BingX on Reddit (opens in a new tab) (r/BingX)
More facts we checked on BingX
- I2P address
- Not published
BingX in the US and elsewhere
In the US
US availability: Not available
If you are a US person, US sanctions rules apply to you whether or not a service asks for ID.
Outside the US
Where BingX does not serve
21 places in its terms
Afghanistan- Burundi
- Cambodia
Canada- Central African Republic
- China (Mainland)
Cuba
Democratic Republic of the Congo- Hong Kong SAR
Iran- Laos
- Macau SAR
Myanmar- Netherlands
North Korea- Panama
Singapore- Somalia
United Kingdom- United States (including all U.S. Territories & Minor Outlying Islands)
the Crimea, Donetsk, and Luhanskregions of Ukraine
Show all 21 places+15 moreShow fewer
Regional rule: Not statedBingX's own pages we checked do not say. This is not the same as no.
- Site blocks by region
- Afghanistan; Burundi; Cambodia; Canada; Central African Republic; China (Mainland); Cuba; Democratic Republic of the Congo; Hong Kong SAR; Iran; Laos; Macau SAR; Myanmar; Netherlands; North Korea; Panama; Singapore; Somalia; United Kingdom; United States (including all U.S. Territories & Minor Outlying Islands); the Crimea, Donetsk, and Luhansk regions of Ukraine
Where you live and the provider's terms
Many services on this page do not serve every country. Some exclude people because of where they live or their citizenship, not only where they connect from. Read the provider's terms before you send funds. If the terms exclude you, do not use the service, and do not try to get around the restriction, for example with a VPN.
Taxes
A service that does not ask for ID does not change your taxes. In the US, the federal income tax return asks a yes-or-no question about digital assets, and you must report digital asset transactions whether or not they result in a gain or loss. In the UK, you may owe Capital Gains Tax when you sell, swap or spend crypto, and you must keep your own records. Rules in other countries differ.
No KYC is not anonymity
"No KYC" here means the provider says it does not ask for ID in the cases its terms describe. It does not make you anonymous. BingX's terms say it can ask for ID in these cases: Any deposit or trade (Advanced KYC required); fiat currency and Launchpad; withdrawals: the system evaluates the account security status and abnormal risks may lead to manual review; suspected violations (Related Accounts, coordinated trading, prohibited trading): BingX may require complete materials or documents within a set time limit; reasonable doubt about the accuracy of provided information. Regulated exchanges you send funds from or to may have to collect information about who sends and who receives a crypto transfer. Your tax duties stay the same.
Funds can be held
If a provider asks for more information during a swap or a withdrawal, it may hold your funds until it gets it. Its terms decide what happens next. In the UK, a crypto business that asks for information on a transfer to or from a self-custody wallet, and does not receive it, must not pass the funds on. Read what the provider's terms say before you send. BingX's terms say that if a check is requested and not completed: bingX may immediately suspend the account and related accounts and freeze or lock the funds in them for any reason, including suspected violations; where practicable it may only restrict trading while still allowing withdrawal of any undisputed balance, but it may also restrict withdrawals for security, fraud prevention, preservation of assets or evidence, or legal compliance. Administrative holds on allegedly stolen funds can last until the dispute is resolved. Funds tied to prohibited trading can be frozen, withheld, deducted or retained.
Checked October 22, 2026
Exchanges to compare with BingX
Other active services in this category from our list. The shield shows each one's ID rule from its own terms.
BingX side by side
From our privacy data, the same fields for every service| What | BingX | Crypton Exchange | NonKYC.io | BloFin | CoinEx | Pionex |
|---|---|---|---|---|---|---|
| ID rule | ID always | No ID, by design | No ID, by design | ID above a limit | ID above a limit | ID above a limit |
| Account | Needed | Not stated | Needed | Needed | Needed | Needed |
| You hold the keys | No | Not stated | No | No | Not stated | No |
| Monero | No | Not stated | Yes | No | Not stated | No |
| Lightning | Not stated | Not stated | No | Not stated | Not stated | No |
| Open source | Not stated | Not stated | No | No | Not stated | Not stated |
Checked October 23, 2026
Short answers about BingX
From the data on this page.
Does BingX ask for ID?
BingX always asks for ID, per its own pages. You need an account.
How much can you trade on BingX without ID?
Unverified: deposits unsupported, no trading, 24-hour withdrawal maximum 20,000 USDT (only relevant for balances already on the account). Basic Verification: cumulative deposit 2,000 USDT, 24-hour withdrawal 20,000 USDT.
Who holds your coins during a BingX trade?
Held by the provider. Custodial: user assets held by BingX, the vast majority in cold wallets, a portion in hot wallets.
Can you buy Monero on BingX?
No. BingX does not list Monero, per its own pages.
What does BingX cost?
Trade fee: Spot VIP 0: 0.1000% taker and 0.1000% maker, lower for VIP tiers (Supreme VIP 0.0200% taker, 0.0050% maker); withdrawal fee per coin and network shown in the withdrawal form; internal transfers 0 fees..
Who checked this page
Sources, how we read the terms and our process
Sources
- bingx.com/en, for I2P address, checked October 22, 2026
- bingx.com/en/support/articles/11258095099407, for what triggers a check and no-ID limit, checked October 22, 2026
- bingx.com/en/support/articles/11258512659471, for custody, custody in detail and incidents, checked October 22, 2026
- bingx.com/en/support/articles/11263322387471, for status, what happens if a check fails, account and operator, checked October 22, 2026
- bingx.com/en/support/articles/360034028153, for excluded countries, US availability and site blocks by region, checked October 22, 2026
- bingx.com/en/support/articles/360034388413, for data collected, checked October 22, 2026
- bingx.com/en/support/articles/4576854622361, for ID rule, checked October 22, 2026
- bingx.com/en/support/costs, for fees, checked October 22, 2026
- iosco.org/i-scan, for incidents, checked October 22, 2026
- open-api.bingx.com/openApi/spot/v1/common/symbols, for Monero, Zcash and bitcoin, checked October 22, 2026
- theblock.co/post/317448/crypto-exchange-bingx-faces-an-estimated-43-million-security-exploit-peckshield, for incidents, checked October 22, 2026
How we read the terms
We do not give privacy services a score. We record what each provider's own pages say: when it asks for ID, the limits, who holds your coins and what it costs. Labels come from each provider's terms, never from our guess. How we read the terms
Our process
We take fees, availability, licenses and coin counts from primary sources: BingX's own fee schedules, terms and help pages, and the public registers kept by regulators. Every value carries the date we last checked it. The values on this page were checked on October 22, 2026.
Not legal or tax advice. This page explains how these services work and what their own terms say. It is general information, not legal, tax or financial advice. Rules differ by country and change often. Check the rules where you live, or ask a qualified professional, before you use any service listed here.