Difference between Huobi and BingX

Huobi and BingX are two distinct cryptocurrency platforms that offer a variety of services and features, but they cater to different user needs and preferences.

Huobi is a cryptocurrency exchange platform that was originally based in Beijing but later moved to Singapore due to restrictions imposed by the Chinese government. It supports over a hundred cryptocurrencies and focuses on the growth of the blockchain economy. Huobi has offices in Singapore, the USA, Hong Kong, Japan, and South Korea. The platform offers advanced security features, various order types, and margin trading. It also has a user-friendly interface and is compatible with multiple platforms. However, according to customer reviews, it has had some issues with security and account verification.

On the other hand, BingX is an international digital financial service institution with branch offices in North America, Canada, the EU, Hong Kong and Taiwan, and has obtained regulatory approval to operate in other countries. BingX focuses on providing users with financial services such as lending, borrowing, and staking, as well as allowing users to buy and sell cryptocurrencies. They also have a referral program, a trading competition, and a copy trading feature that enables users to follow the trades of expert traders.

In summary, Huobi and BingX offer different services and features, and the best platform for you will depend on your specific needs and preferences. It is recommended to research both platforms thoroughly and consult with financial advisors before making any investment decisions.

Mazars Group cut ties with Larger Crypto exchanges after releasing Proof Of Reserves for other Crypto Exchange

A week ago, top copy trading crypto exchange, BingX released Proof of Reserves after an audit done by Mazars Group.

Proof of reserves is a way for a company or organization to prove that it holds a certain amount of assets or financial instruments, such as cash, securities, or cryptocurrency, in reserve. This is often done to demonstrate financial stability, transparency, and accountability to customers, stakeholders, or regulators.

There are various ways to provide proof of reserves. A company may publicly disclose its financial statements, which are audited by an independent third party and include details about the company's assets and liabilities. The audited company may also provide proof of reserves by allowing an independent auditor to verify the existence and ownership of its assets.

In the context of cryptocurrency, proof of reserves is a way for a cryptocurrency exchange or wallet provider to prove that it holds the amount of cryptocurrency that it claims to hold. This is important because it ensures that customers can trust that the exchange or wallet provider has sufficient funds to meet customer withdrawals and other financial obligations.

Binance's Spokeperson told CNBC ,“Mazars has indicated that they will temporarily pause their work with all of their crypto clients globally, which include Crypto.com, KuCoin, and Binance.”

After news broke, crypto exchanges , Crypto.com and Kucoin added that Mazars Group had already delivered the Proof of Reserves.

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BTC USDT Crypto Exchange BingX Spot Delists FPFT/USDT, SNFT/USDT

BingX is a leading crypto exchange that offers BTC USDT, ETH USDT, XRP USDT and LUNA USDT derivatives and Copy Trading service to more than 100 countries and regions worldwide with over 5 million users. BingX connects users with expert traders and the platform in a safe, leading, and innovative way.

BingX will delist the trading pair for the following coin on 10:00 13 December 2022 (UTC) : FPFT, SNFT

To best protect all of their users, BingX periodically reviews each digital asset they list to ensure that it continues to meet the high level of standard they expect. When a coin or token no longer meets this standard, they will conduct an in-depth review and potentially delist it.
Here are some factors in their consideration:
Level and quality of development activity
Network/Spot/Product stability
Level of public communication
Unethical/fraudulent conduct
Market liquidity
Please note:
FPFT, SNFT delisting will not affect other spot trading pairs;
The deposit of FPFT, SNFT is suspended; withdrawal is not affected. If you have any questions, please contact BingX 24/7 Customer Support.