The Cryptonomist interviewed Vivien Lin, Chief Product Officer of the crypto exchange BingX.
Summary
- What is the vision and mission of BingX, and how do you plan to achieve them in the next five years?
- How does BingX ensure the security of its users’ funds and personal information against potential cyber threats?
- How does BingX navigate the complex landscape of global regulatory compliance, and what measures are in place to ensure adherence to local laws?
- Can you share any upcoming features or products that BingX plans to launch? How will these differentiate BingX from other exchanges?
- How does BingX handle customer support, and what are you doing to scale it?
What is the vision and mission of BingX, and how do you plan to achieve them in the next five years?
BingX is crafted to support both new and experienced traders; we have dedicated ourselves to cultivating an inclusive environment that empowers every trader.
We seek to alleviate the challenges of learning to trade by offering tools and products tailored for crypto beginners and experts. From enabling a trader to learn safely within their risk tolerance to equipping a professional trader, our platform is renowned for its wide scope of trading features.
We hope to continue to grow our ecosystem by empowering these traders of all levels, as well as building a gateway for the next billion crypto users.
We will achieve our steadfast goal by always putting our users first and developing a product for everyone at any level. We are a customer-centric exchange, and this is reflected in our current and upcoming products that are created solely by their demands.
How does BingX ensure the security of its users’ funds and personal information against potential cyber threats?
BingX is committed to providing a trustworthy platform that empowers users with innovative tools and features to elevate their trading proficiency. First and foremost, we provide 100% user asset protection and 100% proof of reserves. BingX is fully focused on user security, and we address this through various efforts. For example, we have an ongoing partnership with CertiK to enhance the security of its platform and provide users with a safer trading environment. CertiK provides BingX with the Security Score API, which enables BingX’s traders to access security scores generated by CertiK and gain widened insights into their trading.
We were additionally proud to be voted TradingView’s Best Crypto Exchange for 2021, 2022, and 2023 and to hold a top rank on CoinGecko and CoinMarketCap.
How does BingX navigate the complex landscape of global regulatory compliance, and what measures are in place to ensure adherence to local laws?
What initiatives is BingX undertaking to improve the user experience, particularly for new users who may be unfamiliar with cryptocurrency trading?
We provide many tools that allow beginners to learn how to dive into the world of crypto safely, like having a blog dedicated to trader education and introductory videos to equip users. Other
initiatives include a top-notch social trading ecosystem where both users and traders can learn and earn, which is great for beginners.
Additionally, we are focusing on partnerships outside of crypto that bring awareness and educate potential users who may be interested. 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. Inspired by the same initiative, BingX has teamed up with UFC fighters Junyong Park and Da Woon Jung. This collaboration seeks to bridge the dynamic worlds of cryptocurrency and mixed martial arts. The common philosophy shared by both fighters and traders is aptly summarized as “Making Your Own History.”
Can you share any upcoming features or products that BingX plans to launch? How will these differentiate BingX from other exchanges?
BingX’s success hinges on its unwavering commitment to continuous innovation and product diversification, catering to the evolving needs of crypto enthusiasts and traders worldwide.
Offering a diverse range of products, BingX empowers users with flexibility and choice in managing digital assets.
Guided by a user-centric philosophy, BingX systematically and comprehensively develops its products and services. To enhance capital efficiency, BingX will introduce USDC-margined futures trading and expand the range of assets used as trading margins, alongside updates in
coin-margined futures trading.
In spot trading, BingX will launch Launchpad and Launchpool, enabling participation in attractive token sales and access to high-quality, rigorously vetted projects. For wealth management, BingX will offer loan services, allowing users to pledge tokens for collateralized loans at competitive rates. The platform will also expand its structured product offerings to include dual currency notes, accumulators/decumulators, and snowball products, providing diverse investment options.
Additionally, BingX plans to provide access to top crypto asset managers, bringing institutional-quality asset management capabilities to its users.
How does BingX handle customer support, and what are you doing to scale it?
Our customer service executives are always ready with 24/7 global support and are glad to answer any questions.
At BingX, the service supports 20 languages and is committed to responding in a timely manner, presenting the best experience to our users.
We always have immediate assistance available as we know how sensitive it is to handle a user’s currency.