Bidesk review 2023

Bidesk’s clients range from beginners who are buying their first cryptocurrency, to professional traders, to institutional traders with stable trading experience. The overall goal is to create a safe and secure trading environment for coins and tokens. Keep reading this review to find out everything you need to know about Bidesk.  

What can I do with Bidesk?

Bidesk is a relatively new exchange, only being operational since October 2019. It lists crypto tokens (including its own Bidesk Token), and some derivatives for trading. 

It also offers a crypto app for both iOS and Android devices, which has a compact, easy to use trading screen and its maker/taker trading fees are relatively low in comparison to many other notable exchanges today.

Bidesk cryptocurrencies and trading options

What cryptocurrencies can you trade on Bidesk?

Bidesk currently offers a total of 36 crypto coins and tokens for trading, including Bitcoin, Ethereum, Litecoin, and XRP.

Major cryptos traded on Bidesk

• Bitcoin
• Bitcoin Cash
• XRP
• Ethereum
• Litecoin
• Cardano
• Chainlink
• Monero
• NEO
• EOS
• Dash
• Cosmos
• Tezos
• Dogecoin
• Ontology
• Tatcoin
• HEX
• Tellor
• Wabi
• Decentr

Bidesk core currency pairs

• BCH/BTC
• XRP/BTC
• ETH/BTC
• LTC/BTC
• XMR/BTC
• ADA/BTC
• XTZ/BTC
• BSV/BTC
• ONT/BTC
• ETC/BTC
• TRX/ETH
• TAT/BTC
• WABI/BTC
• HEX/BTC
• DASH/BTC
• DOGE/USDT
• EFX/USDT
• LINK/USDT
• NEO/USDT
• EOS/USDT

All Bidesk trading options

Bidesk provides a fairly standard, yet limited crypto coin and token roster, including all the usual names you would expect such as Bitcoin, XRP, Litecoin, and Ethereum. Apart from this, it offers just a few Bitcoin futures for trading.

Can I trade with leverage on Bidesk?

Yes, Bidesk enables futures traders to trade with up to 50x leverage. Please keep in mind that futures trading is a highly risky endeavour, with the potential for significant loss.

What are the spreads?

Instead of spreads, Bidesk charges fixed maker/taker fees on each transaction. These are 0.1% for the taker and 0.1% on the maker side as well, which is on the low side compared to others in the industry.

Fees, limits, and payment options on Bidesk

What are the deposit and withdrawal fees, limits, and speeds?

Bidesk offers direct crypto deposits from your wallet and it has also partnered with MoonPay to enable debit/credit card and bank transfer payments. 

Deposits are always free with Bidesk and withdrawal fees depend entirely on the blockchain network, which is also fairly standard.

How much are Bidesk’s fees and commissions?

Bidesk’s fixed maker/taker fees are relatively low, which is likely due to the fact that it is a new exchange and wants to attract new clients to its platform.

Bidesk trade sizes and limits

Bidesk doesn’t offer a lot of transparency into its minimum and maximum trade sizes, but we were able to uncover the below info in the table, which stacks up well against other exchanges.

Bidesk trading platform

What devices can I use Bidesk on?

Bidesk’s trading platform is available in the browser and it also offers a downloadable mobile app.

• PC
• Tablet
• iOS mobile devices
• Android mobile devices

Can I use Bidesk in my country?

Bidesk is currently available in over 60 countries, including the United Kingdom, Spain, Turkey, and Japan. Select your country from the list below to see if it is available where you are.

Is Bidesk available in my language?

Currently Bidesk only offers support in two languages: English and Mandarin. This is less than most other crypto exchanges today.

How easy is it to use Bidesk?

Bidesk offers a very simple exchange that enables traders to do everything they need from a browser based and mobile platform.

The trading experience translates well to the smaller, more condensed screen of the mobile device, without lag when trying to execute a trade. Bidesk also recently partnered with a third-party payment provider to start accepting debit/credit card deposits and withdrawals, which will make its exchange even more accessible.

Key features

In spite of its simplicity, Bidesk has a few notable features it offers traders, as per the below.

Coin Staking

Similar to earning interest on an investment with staking, your coins are locked in a wallet and the longer you keep them there, the more coins you will earn as a reward. Bidesk offers the capability to stake top coins such as Bitcoin and Ethereum.

Futures Trading

Bidesk gives you the choice to profit from trading a limited number of Bitcoin or Ethereum futures, for relatively low fees of 0.02% on the Maker side and 0.04% on the Taker side.

Community Groups

Bidesk lets you interact with other traders and discuss strategies, recently released crypto news, and just hang out and get to know the community. There are several different communities based on geography – English Group, Indian Group, African Group, and a few others as well.

Security and regulation

Is Bidesk safe?

Bidesk emphasises a safe and secure trading environment and it has Two-Factor Authentication (2-FA) enabled. It also has HTTPS encrypted logins for every attempt.

Am I and my cryptocurrency protected?

Bidesk is not an insured exchange with any recognised authoritative body and as such, your deposited funds are not guaranteed in any way.

Is Bidesk regulated?

No, Bidesk is not a regulated exchange with any regulatory body, anywhere in the world.

Do I have to verify my account with Bidesk?

No, however without verification both your trading and leverage will be limited. As will the amount you are able to withdraw at any one time. 

Bidesk like the majority of other reputable exchanges adheres to a Know Your Client (KYC) policy and you will need to upload at least two pieces of valid ID in order to verify your account.

Extra information

Educational resources 

Bidesk has very minimal educational resources, keeping consistent with its simple, no frills style. The extent of the educational resources that can be found on its website consist of a support section, which introduces you to various coins and also has a news sub-section.

There is also an FAQ section, which further elaborates on how to use the exchange’s basic features.

Tools and charting

Bidesk’s proprietary web and mobile-based exchange offers multiple trading tools, such as multiple order types and various order book views (1 integer, 2 decimals, etc.). The chart also allows full customisation, from the style, background, scales, and timeframe view, from one minute to one month.

Customer support

Bidesk provides 24/7 live support via a Zendesk chat on its website, in two languages. Apart from this you can submit a formal request online and a member of the support team should reply within 24 hours time.

Our verdict

Bidesk is a digital asset exchange, enabling both individuals and institutions to trade crypto coins, tokens, and even some crypto derivatives via its web and mobile-based proprietary platform.

Since launching in October of 2019, it has become known for its consistent liquidity and active community of traders, all of which have dedicated Telegram groups. There could definitely be more coins available for trading beyond the current roster of 36, as well as trading tools, and educational resources. But Bidesk is still a brand new exchange, which just celebrated its first year anniversary. Because of its execution on the exchange end and a good overall trading experience, we will exercise patients in waiting for additional features.

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