Review of Bidesk
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.
Pros & Cons
What can I do with Bidesk?
It also offers a mobile 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?
Major cryptos traded on Bidesk
- Bitcoin Cash
Bidesk core currency pairs
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.
Up to 4 hours
|MoonPay (Bank Card, Bank Transfers)|
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.
|Fee type||Fee amount||Commission|
|Crypto trading||0.1% (On both maker/taker sides)|
|Crypto futures||0.02% Maker/0.04% Taker|
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.
|Product||Minimum trade||Maximum trade|
|Product||Minimum trade||Maximum trade|
|Cryptocurrencies||1 micro lot||No limit|
|Crypto futures||0.1 BTC||No limit|
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.
- 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.
In spite of its simplicity, Bidesk has a few notable features it offers traders, as per the below.
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.
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.
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.
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.
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.
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.
How to buy and sell cryptocurrency on Bidesk
How to buy crypto on Bidesk
- Login to your account
- Select the market and crypto you would like to trade
- On the trading page, select your price and quantity
- Click on the green “Buy” button
How to sell crypto on Bidesk
- Login to your account
- Select the coin, token or pair you would like to sell
- On the trading page, select the price and quantity you would like to sell
- Click on the red “Sell” button
Unfortunately no publicly available info is currently available on Bidesk’s founders, team or funding.
Bidesk makes money by charging fixed maker/taker fees on every transaction completed on its platform.
Depending on the country of your residence, you might be asked to pay taxes on any profits you earn through Bidesk. Check your local tax regulations to determine what applies to you.
If you wish to delete your Bidesk account, simply get in touch with customer support by submitting a support ticket and they will guide you through the process.
You can short on TradeATF by selling any asset that you believe will fall in value. If this drop in price materialises, you can buy back the asset at the new lower price, pocketing the profit.
Simply click on the Log In link in the header bar on Bidesk’s website. Click on “Forgot Password” Enter your email address and a confirmation link will be sent to reset your password.
No, Bidesk currently only supports crypto, debit/credit transactions, and bank transfers.
All of your open trades are processed in real-time and will be visible in your trade history.
In the event that Bidesk ceases operations altogether, it does not carry any deposit insurance by any financial authority therefore your deposits are not protected in any way.
Yes, you can view your entire trade history once logged into the exchange by scrolling to the Trade History tab at the bottom of your trading dashboard.
Yes, Bidesk enables you to directly deposit crypto coins and tokens from your wallet.
While no direct trading bonuses are currently offered, Bidesk does enable you to both stake coins and refer others to the service in order to earn rewards.
Simply choose the ‘send’ option in your crypto wallet, fill in all the required data and provide an external Crypto wallet address (Bidesk). You will then receive a QR code to complete the transaction.
Yes, Bidesk does enable you to trade anonymously. Albeit with lower trading limits and withdrawal caps. In order to have these lifted, you will need to verify your account by submitting copies of your personal ID to Bidesk.
No, it does not offer any type of proprietary wallet to store your coins at this time.
Simply log into your Bidesk account. Once logged in to your account, click “Balance’ on the upper right-hand side of the page, input the ticker of the coin/token that you want to withdraw. Add your wallet address on the withdrawal page. If you have set up 2FA (Two-Factor Authentication) such as SMS or Google Authenticator, enter the verification code and click on confirm.
No, Bidesk has not been hacked since it publicly launched in October 2019.