BingX, a major cryptocurrency exchange, caters to more than 10 million users across 100+ countries. Being a lawful crypto trading platform, BingX adheres to local laws and regulations. However, BingX has some difficulties in being available in a few countries. In this insightful blog post.
We’ll look into a comprehensive list of supported and restricted countries, providing you with essential insights. Also stay tuned until the end, where we unveil top alternatives to BingX for users residing in restricted areas, ensuring you navigate the cryptocurrency domain seamlessly. So let’s start exploring.
BingX Restricted & Banned Countries
BingX currently lacks functionality in 10 countries because of their disinterest in crypto assets, countries like the Netherlands and Saudi Arabia as stated by BingX officials and in their terms of service. Regulatory limitations and ongoing uncertainties form significant barriers, hindering BingX’s ability to extend support and services in these regions.
- Saudi Arabia
- Netherlands
- Denmark
- Iceland
- Namibia
- New Zealand
- Japan,
- Luxembourg
- Bosnia
- Herzegovina
- Norway
Bingx is currently unavailable to crypto enthusiasts from these specific countries, restricting their access to the platform for regulatory compliance.
Which Countries Does BingX Support?
BingX extends its services to a broad range of countries, including those in Asia, Oceania, Europe, Australia and South America. The platform accommodates users from over 100 different countries. This extensive geographical coverage underscores BingX’s commitment to providing an accessible experience for users worldwide. For the official list of supported countries on BingX, you can refer to their website.
Is BingX Legal in the United States?
BingX does offer its services to South America, offering an amazing platform for crypto enthusiasts in the region. With a user-friendly interface and comprehensive features, BingX provides seamless access to a variety of crypto assets. South American users can leverage BingX’s capabilities for secure trading and investment opportunities, contributing to the growing adoption of digital assets in the region.
Can I use BingX with a VPN?
While it may be tempting to use BingX with a VPN, it’s crucial to exercise caution, especially in the United States. Operating banned apps within the parts of the U.S. where it is not available through a VPN could lead to serious consequences, including a 20-year imprisonment and a hefty $250,000 fine, as per U.S. regulations. It is essential to respect and adhere to the laws of each country, taking into account potential legal ramifications before attempting to bypass regional restrictions.
BingX Alternatives
If you reside in a country restricted to buying, we strongly advise exploring alternative crypto exchanges. For any part of the U.S. where Bing is not available to residents, BYDFi is a licensed platform that accommodates customers from the United States. In regions where BingX isn’t available, consider Bitget and OKX excellent alternatives. These exchanges boast low fees, and substantial trading volume, making them excellent choices outside the U.S.
Does BingX Require KYC?
BingX adopts a relaxed stance, eliminating the necessity for KYC verification. This means you can start trading on BingX without KYC immediately while safeguarding your privacy. However, users without verification face a daily withdrawal cap of $50,000. To unlock higher limits, you must furnish personal information such as your ID or Passport.
Moreover, it adheres to Anti-Money Laundering (AML) policies to deter prohibited activities. Users can enhance security by implementing multiple layers such as 2FA, distinct deposit and withdrawal passwords, device codes, and Anti-Phishing Codes.
Final Thoughts
Navigating the limitations of BingX in restricted countries can be challenging, but exploring alternatives like OKX or Bitget offers a promising solution. To take a deeper look at the features, benefits and limitations of BingX be sure to check out our comprehensive BingX review. Your crypto journey doesn’t have to be hindered by restrictions; informed choices pave the way for a seamless trading experience.
