Exchange BingX launched in early 2018. Although the start of its work was in the crypto winter, to date, the platform has managed to enter the top twenty trading platforms according to CoinMarketCap with more than 5 million users.
In an exclusive interview with Cryplogger, BingX PR Head Nadezhda Gusinskaya explained why the team launched the exchange during the bear market, how difficult it is to become a TradingView broker, and what blockchain products will become trending in 2023.
Fork Log: Good afternoon! Tell us about yourself. How did you get into the crypto industry?
Nadezhda Gusinskaya: Hello! I am a PR specialist with more than 15 years of experience promoting technology and financial products.
At various times, she worked both with corporations and venture funds, as well as with small start-ups. Since 2018, I have been developing projects in the field of Web3, including crypto exchanges and cloud platforms.
Cryplogger: Were you on the BingX team at launch? Can you tell us why the creators of the platform chose this particular time?
Hope: Yes, I joined the project at the beginning of 2018, and in April the exchange started working.
Traditionally, businesses look at price cuts as a terrible sign. And BingX perceives it as an opportunity to analyze a niche and understand what services users lack.
Since the start of the development and to this day, we focus on providing traders with the best trading experience. And this strategy pays off: in 2023, we recorded a threefold increase in users – now more than 5 million traders trade on BingX.
Briefly, the team’s approach can be described with the phrase “In a bear market, we work on products; in a bull market, we reap the fruits of our labors.”
Cryplogger: Does the current state of the market remind you of the last crypto winter?
Hope: Certainly. Both then and now the US Federal Reserve raised the interest rate. Last year was the worst for bitcoin since 2018: daily RSI fell below 30, as it did during the last crypto winter.
The industry is going through a tough time, including the collapse of big players like Terra, FTX, Celsius and Three Arrow Capital. Also, the market is negatively affected by the actions of regulators who accuse exchanges and projects of trading in unregistered securities.
It is impossible to predict when and why the next upswing will occur, but past rallies have started in much the same conditions.
Cryplogger: Which of these factors influence the community the most?
Hope: Debate about regulation. News from the US Securities and Exchange Commission (SEC) always affects investor sentiment and cryptocurrency prices.
Cryplogger: Is there still a chance for mass adoption in this situation?
Hope: The crypto industry is not described by prices: first of all, these are products and their users.
I would like to believe that at the moment the main goal of the community is to increase the number of participants to a billion.
Then solutions that attract users through new experiences or useful features become key: Web3 games, blockchain-based enterprise solutions, and new ways to use NFT.
Cryplogger: What methods are we talking about?
Hope: It is likely that digital art will remain one of the main use cases for NFTs. However, developers are constantly expanding the scope of non-fungible tokens.
We can already transfer the value of digital and physical assets to the blockchain through tokenization. In the coming years, this concept will be developed in the form of NFT tickets, keys, and other things that require verifiable uniqueness.
The digital art market will also change and offer users new products. An example is the recent launch of the Blur marketplace, which provided collectors and artists with convenient tools for trading and promoting tokens.
Cryplogger: How will exchanges change?
Hope: I cannot name a list of specific solutions, but marketplaces are constantly working to increase trust and simplify the trading process.
Thus, the main trends of the past year were Proof of Reservescopy trading and trading through TradingView.
We are proud to be among the first to provide traders with proof of reserves based on the Merkle tree, the transparency of which confirmed independent auditor Mazars.
I consider Proof of Reserves to be the best solution in the financial industry: users can make sure that the custodian holds their funds honestly, while not disclosing information about their account.
BingX also launched a service copy trading with loss insurance vouchers and integrated with TradingView.
Cryplogger: What did the integration with this service give users?
Hope: They can trade on TradingView: place orders, use alerts and indicators, create strategies and share ideas – all in one interface.
Cryplogger: How difficult is it to make such a partnership?
Hope: TradingView requires the exchange to provide quality trading and custody services, as well as be licensed and comply with local regulator regulations.
We entered into cooperation with the service in 2020. Negotiations and integration took half a year, so BingX received the status of a broker in September 2021.
In 2021 and 2022 TradingView awarded us the “Best Crypto Exchange” award. And we hope to win again this year.
Cryplogger: How does TradingView choose the winners?
Hope: The service has several nominations for exchanges and brokers, such as “Most Popular”, “Best for Futures”, “Most Reliable”.
TradingView evaluates projects for each of them using user feedback and its own indicators: trader engagement, uptime, no technical issues, and others.
I think that the success of BingX is largely due to the ratings of our users – the platform has a rating of 4.7 out of 5 points.
Cryplogger: How many BingX clients are trading on TradingView?
Hope: According to the service itself – more than 60 thousand. According to our surveys, TradingView is more often used by professionals who need advanced tools to increase their trading efficiency.
Cryplogger: You have already named last year’s trends. And what will be the most promising direction this year?
Hope: Decentralized products that can replace banks, insurance companies and hedge funds.
Blockchain provides fast, secure payments, as well as the ability to automate actions using smart contracts and oracles. This combination is capable of greatly ousting traditional finance.
Crypto winter will allow many projects to discover empty niches and create solutions that will perform well in the coming bull market.
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Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!
Exchange BingX launched in early 2018. Although the start of its work was in the crypto winter, to date, the platform has managed to enter the top twenty trading platforms according to CoinMarketCap with more than 5 million users.
In an exclusive interview with Cryplogger, BingX PR Head Nadezhda Gusinskaya explained why the team launched the exchange during the bear market, how difficult it is to become a TradingView broker, and what blockchain products will become trending in 2023.
Fork Log: Good afternoon! Tell us about yourself. How did you get into the crypto industry?
Nadezhda Gusinskaya: Hello! I am a PR specialist with more than 15 years of experience promoting technology and financial products.
At various times, she worked both with corporations and venture funds, as well as with small start-ups. Since 2018, I have been developing projects in the field of Web3, including crypto exchanges and cloud platforms.
Cryplogger: Were you on the BingX team at launch? Can you tell us why the creators of the platform chose this particular time?
Hope: Yes, I joined the project at the beginning of 2018, and in April the exchange started working.
Traditionally, businesses look at price cuts as a terrible sign. And BingX perceives it as an opportunity to analyze a niche and understand what services users lack.
Since the start of the development and to this day, we focus on providing traders with the best trading experience. And this strategy pays off: in 2023, we recorded a threefold increase in users – now more than 5 million traders trade on BingX.
Briefly, the team’s approach can be described with the phrase “In a bear market, we work on products; in a bull market, we reap the fruits of our labors.”
Cryplogger: Does the current state of the market remind you of the last crypto winter?
Hope: Certainly. Both then and now the US Federal Reserve raised the interest rate. Last year was the worst for bitcoin since 2018: daily RSI fell below 30, as it did during the last crypto winter.
The industry is going through a tough time, including the collapse of big players like Terra, FTX, Celsius and Three Arrow Capital. Also, the market is negatively affected by the actions of regulators who accuse exchanges and projects of trading in unregistered securities.
It is impossible to predict when and why the next upswing will occur, but past rallies have started in much the same conditions.
Cryplogger: Which of these factors influence the community the most?
Hope: Debate about regulation. News from the US Securities and Exchange Commission (SEC) always affects investor sentiment and cryptocurrency prices.
Cryplogger: Is there still a chance for mass adoption in this situation?
Hope: The crypto industry is not described by prices: first of all, these are products and their users.
I would like to believe that at the moment the main goal of the community is to increase the number of participants to a billion.
Then solutions that attract users through new experiences or useful features become key: Web3 games, blockchain-based enterprise solutions, and new ways to use NFT.
Cryplogger: What methods are we talking about?
Hope: It is likely that digital art will remain one of the main use cases for NFTs. However, developers are constantly expanding the scope of non-fungible tokens.
We can already transfer the value of digital and physical assets to the blockchain through tokenization. In the coming years, this concept will be developed in the form of NFT tickets, keys, and other things that require verifiable uniqueness.
The digital art market will also change and offer users new products. An example is the recent launch of the Blur marketplace, which provided collectors and artists with convenient tools for trading and promoting tokens.
Cryplogger: How will exchanges change?
Hope: I cannot name a list of specific solutions, but marketplaces are constantly working to increase trust and simplify the trading process.
Thus, the main trends of the past year were Proof of Reservescopy trading and trading through TradingView.
We are proud to be among the first to provide traders with proof of reserves based on the Merkle tree, the transparency of which confirmed independent auditor Mazars.
I consider Proof of Reserves to be the best solution in the financial industry: users can make sure that the custodian holds their funds honestly, while not disclosing information about their account.
BingX also launched a service copy trading with loss insurance vouchers and integrated with TradingView.
Cryplogger: What did the integration with this service give users?
Hope: They can trade on TradingView: place orders, use alerts and indicators, create strategies and share ideas – all in one interface.
Cryplogger: How difficult is it to make such a partnership?
Hope: TradingView requires the exchange to provide quality trading and custody services, as well as be licensed and comply with local regulator regulations.
We entered into cooperation with the service in 2020. Negotiations and integration took half a year, so BingX received the status of a broker in September 2021.
In 2021 and 2022 TradingView awarded us the “Best Crypto Exchange” award. And we hope to win again this year.
Cryplogger: How does TradingView choose the winners?
Hope: The service has several nominations for exchanges and brokers, such as “Most Popular”, “Best for Futures”, “Most Reliable”.
TradingView evaluates projects for each of them using user feedback and its own indicators: trader engagement, uptime, no technical issues, and others.
I think that the success of BingX is largely due to the ratings of our users – the platform has a rating of 4.7 out of 5 points.
Cryplogger: How many BingX clients are trading on TradingView?
Hope: According to the service itself – more than 60 thousand. According to our surveys, TradingView is more often used by professionals who need advanced tools to increase their trading efficiency.
Cryplogger: You have already named last year’s trends. And what will be the most promising direction this year?
Hope: Decentralized products that can replace banks, insurance companies and hedge funds.
Blockchain provides fast, secure payments, as well as the ability to automate actions using smart contracts and oracles. This combination is capable of greatly ousting traditional finance.
Crypto winter will allow many projects to discover empty niches and create solutions that will perform well in the coming bull market.
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Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!
