Fascinated by shopping for Bitcoin or different cryptocurrencies? You’ll want a secure and simple platform to commerce them, and that’s the place crypto exchanges are available in. On this information, we’ll offer you a BingX evaluate, a preferred crypto alternate that’s been round since 2018. We’ll break down what BingX provides, the way it works, and if it’s a superb match for you, particularly should you’re new to the crypto world.
Key Takeaways:
BingX is a well-liked crypto copy buying and selling platform that gives a wide range of buying and selling options, resembling spot buying and selling, futures contracts, and grid buying and selling bots, plus different monetary markets like shares and foreign exchange.With operations in 100+ areas and compliance with regulatory requirements in locations just like the European Union and Australia, BingX ensures a safe and legally compliant buying and selling expertise.It’s designed to be accessible and simple to make use of, with options like demo buying and selling and a clear interface, plus assist for over 750 cash and tokens.
BingX Evaluate At a Look
FeaturesBingXBased2018HeadquartersSingaporeFoundersJosh LuFinest ForCrypto Copy Buying and sellingBuying and selling OptionsSpot, futures, copy, grid buying and selling bots, staking, and P2P marketSupported Cash750+ tokens and 830 buying and selling pairsBuying and selling Charges0.1% maker/taker for spot0.02% maker and 0.05% taker for futuresMost Leverage125xLicensesEurope and AustraliaSafety2FA, anti-phishing code, PoR knowledge, insurance coverage fund, SSLCustomer supportE mail, assist heart, and stay chatCellular AppAndroid and iOS
What’s BingX Change?
BingX is a cryptocurrency alternate that started in 2018. This platform is thought for providing varied buying and selling providers to over 10 million merchants around the globe. Right here, you’ll be able to have interaction in spot buying and selling, derivatives buying and selling, copy buying and selling, and grid buying and selling, making it appropriate for each new and skilled merchants.
The alternate operates globally, with branches in Asia, Oceania, Europe, and South America. It’s registered and controlled in a number of international locations, together with the European Union and Australia, guaranteeing compliance with native monetary rules. This international attain and regulatory compliance make BingX a dependable platform for buying and selling cryptocurrencies.
The platform emphasizes safety and transparency. They’ve a 100% Proof of Reserves, verified by international auditing corporations like Mazars, guaranteeing that each one person property are absolutely backed and safe. Moreover, BingX has handed safety audits by CertiK, a number one security-focused rating platform.
BingX helps buying and selling for over 750 cryptocurrencies, enabling you to purchase and promote these property shortly and effectively. In case you’re concerned with derivatives, BingX provides each perpetual futures and normal futures buying and selling with as much as 125x leverage.
BingX has obtained recognition within the trade, successful awards such because the “TradingView Finest Crypto Change” in 2021 and 2022, and being named the “Quickest Rising Social Buying and selling Platform by World Manufacturers Journal in 2022”. The platform can also be extremely ranked by CoinGecko and CoinMarketCap for its trustworthiness and user-friendly interface.
Professionals of BingX
A clear and intuitive interface, making it straightforward for newcomers to commerce cryptoThe varied number of 750+ cryptocurrencies permits for portfolio diversificationAggressive charges for brand new customers and low buying and selling charges for large-volume merchantsSuperior buying and selling options like by-product market, copy buying and selling, and automatic buying and selling botsSimple to make use of BingX app for Android and iOS units
Cons of BingX
Margin buying and selling will not be obtainable in comparison with different exchanges like OKXRestricted cost strategies for fiat forex deposits and withdrawalsNot obtainable in the USA
Key Options of BingX Change Defined
Spot and Futures Buying and selling
BingX’s spot market helps over 750 cryptocurrencies, permitting you to straight purchase and promote digital property on the present market worth. That is excellent if you wish to purchase crypto for quick holding.
Spot buying and selling on BingX provides two conveniences:
Fast Purchase and Promote: Execute trades swiftly on the prevailing market worth. You too can carry out this half with fiat currencies.Zero-fee Crypto Conversion: Immediately convert between 100+ cryptocurrencies with out incurring any charges. It is a nice approach to diversify your crypto portfolio with out worrying about extra prices.
BingX supplies two kinds of futures buying and selling: Conventional Futures and Perpetual Futures
Conventional Futures: These contracts have a set expiry date. You agree to purchase or promote a particular crypto asset at a predetermined worth on that date.Perpetual Futures (USDT-M and Coin-M): In contrast to conventional futures, perpetual contracts haven’t any expiry. You’ll be able to maintain them indefinitely and leverage them for doubtlessly amplified returns. BingX provides perpetual futures with two margin modes: USDT-margined (USDT-M) and Coin-margined (Coin-M). USDT-M makes use of Tether (USDT) because the collateral, whereas Coin-M makes use of the particular cryptocurrency of the contract (e.g., BTC-M for Bitcoin futures).
BingX additionally provides excessive leverage, reaching a most of 125x. Leverage permits you to management a bigger place with a smaller quantity of capital.
BingX provides two margin modes for managing your trades:
Cross Margin: This mode makes use of your total account stability as collateral for all open positions. Whereas it permits for doubtlessly larger earnings, a loss in a single place can result in a margin name and liquidation of your total portfolio throughout all open positions.Remoted Margin: Right here, you allocate a certain quantity of margin for every particular person place. This limits the danger related to a single commerce and prevents a domino impact of liquidations throughout your holdings.
BingX Order Varieties
Whereas BingX provides normal market orders (shopping for/promoting at one of the best obtainable worth) and restrict orders (shopping for/promoting at a predetermined worth), in addition they present superior order sorts for extra strategic buying and selling:
Take Revenue (TP)/Cease Loss (SL): These automated orders enable you lock in earnings or decrease losses. A TP order mechanically sells your place when it reaches a particular revenue goal, whereas an SL order mechanically sells your place to restrict potential losses if the worth falls under a set level.Trailing Cease: It mechanically adjusts your stop-loss worth because the market strikes favorably. For instance, with a trailing cease set at 5% under the present market worth, if the worth will increase by 2%, your stop-loss worth can even rise by 2% to lock in earnings.Submit-Solely Orders: These orders solely get fulfilled in the event that they add liquidity to the order e-book. This may be helpful for guaranteeing your order doesn’t unintentionally take away liquidity from the market and lead to excessive worth slippage.Set off Orders: These orders execute when the market worth reaches a specified set off worth (set by you). That is helpful for coming into trades at particular market situations.
BingX Copy Buying and selling
BingX provides a duplicate buying and selling platform that allows you to replicate the trades of skilled merchants mechanically. This service is accessible for each futures and spot markets. The platform helps over 17,000 skilled elite merchants and has executed 600 million copy buying and selling orders up to now.
Copy buying and selling on BingX is straightforward. You choose an elite dealer whose trades you need to copy. As soon as chosen, any trades the elite dealer makes are mechanically replicated in your account. BingX contains a number of options to reinforce your copy buying and selling expertise. One function is “copy by place”, which ensures you can not allocate greater than a dealer’s share of their portfolio to a commerce, successfully managing danger. It additionally supplies detailed statistics about merchants, together with their earnings, variety of open positions, and danger scores, serving to you make correct choices about whom to comply with.
Copy buying and selling on BingX isn’t nearly following trades. The platform fosters a neighborhood the place you’ll be able to be taught and collaborate. It provides incentives resembling zero subscription charges and referral bonuses, rewarding you for recommending high-quality merchants. It additionally has an “Elite Copy Merchants Program” that gives larger commissions and month-to-month salaries to top-performing merchants.
BingX Wealth
BingX Wealth is a function supplied by the BingX crypto alternate that permits you to earn passive revenue in your crypto holdings. It’s designed to be user-friendly and caters to totally different funding types, whether or not you prioritize security or purpose for progress.
BingX Wealth contains two primary parts: Easy Earn and Shark Fin. Easy Earn is a sub-feature that gives two choices for incomes in your crypto: Fastened Earn and Versatile Earn.
With Fastened-Time period financial savings, you’ll be able to select between 7-day and 90-day durations, providing predictable returns with aggressive Annual Share Yields (APYs). Usually, the longer the maturity interval, the upper the rate of interest you’ll be able to earn. For instance, you’ll be able to earn as much as 2% APR on BTC with a 90-day lockup interval.Versatile Earn provides extra flexibility to your investments. You’ll be able to subscribe and redeem your crypto holdings at any time. Whereas the rates of interest on Versatile Earn is perhaps barely decrease in comparison with Fastened Earn, it provides you the liberty to entry your crypto everytime you want it. For instance, BingX provides as much as 10% APY on USDT with versatile phrases.
Shark Fin is one other structured product designed to supply larger returns primarily based on correct market predictions. It permits you to earn yields primarily based in your predictions of the worth actions of BTC (Bitcoin) or ETH (Ethereum).
In case you anticipate a market rise, you’ll be able to select a Bullish Shark Fin, which optimizes yields when the market will increase. Conversely, should you predict a market decline, you’ll be able to go for a Bearish Shark Fin, which supplies larger returns if the market stays inside preset limits.
Automated Grid buying and selling
BingX Grid Buying and selling automates your cryptocurrency buying and selling technique, letting you purchase low and promote excessive with out continually watching the market. They provide three primary Grid Buying and selling choices: Spot Grid, Futures Grid, and Spot Infinity Grid.
Spot Grid: It is a nice possibility for newcomers. Think about you set a worth vary of $10k to $20k for Bitcoin (BTC) with a complete funding of $100. BingX will mechanically divide your $100 into smaller purchase orders all through that worth vary. So, if the worth of Bitcoin drops to $15k, BingX will mechanically purchase some BTC. Then, if the worth rebounds to $18k, BingX will promote a few of that BTC for a revenue. This captures small worth actions and goals to revenue from market volatility.Futures Grid: The Futures Grid is just like the Spot Grid however is used for futures buying and selling with leverage.Spot Infinity Grid: This superior possibility is designed for prolonged durations of sideways market motion. Let’s say, you arrange a Spot Infinity Grid for a cryptocurrency like LTC. The grid continues to purchase extra Litecoin if the worth drops and sells parts if the worth rises, with none higher or decrease restrict. This helps accumulate extra Litecoin over time whereas additionally cashing in on worth swings.
BingX Supported Cryptocurrencies and Buying and selling Pairs
BingX provides an enormous number of totally different cryptocurrencies, over 750, to commerce, together with 830+ totally different buying and selling pairs. This implies you’ll be able to commerce well-liked cash like Bitcoin (BTC), Ethereum (ETH), and Tether (USDT), in addition to many different low-cap altcoins and newly listed initiatives.
To make issues much more handy, BingX makes use of stablecoins like USDT, USDC, and DAI in a variety of their buying and selling pairs. It additionally helps a complete vary of cryptocurrencies in numerous crypto sectors, together with these related to:
MetaverseNon-Fungible Tokens (NFTs)DeFiPlay-to-Earn (GameFi)Sensible ContractsLayer 1 and Layer 2 blockchain optionsRWAs
And extra.
BingX Safety Measures: Is It Protected & Legit?
BingX understands that the safety of your cryptocurrency is a high precedence. That’s why they’ve applied a strong set of options to maintain your property and knowledge secure. Right here’s a breakdown of those options:
Two-Issue Authentication (2FA): Consider 2FA as an additional lock in your account door. Even when somebody guesses your password, they’ll additionally want a particular code out of your cellphone to get in. You’ll be able to both use Google Authenticator or an SMS code. This code adjustments on a regular basis, making it tremendous powerful for hackers to crack. 2FA is a must have for conserving your account safe.Proof of Reserves (PoR): This transparency ensures that the alternate holds adequate reserves and is financially steady. Your asset holdings have been verified by authoritative auditors like Mazars. You’ll be able to examine the Merkle Tree, which the alternate publishes on the first and fifteenth of every month.Fund Password: It’s totally different out of your login password and is required everytime you need to withdraw or transfer your crypto. Even when somebody hacks your account, they gained’t be capable to contact your funds with out this particular password.Whitelist Your Withdrawal Addresses: You’ll be able to solely withdraw funds to addresses on this record, stopping unauthorized withdrawals and conserving your crypto safe.Anti-Phishing Code: BingX provides you a private anti-phishing code that seems in all their actual emails. This code helps you inform the distinction between actual emails from BingX and faux ones from phishers.Encrypted Connections: It makes use of SSL encryption, a technical manner of claiming they scramble the data you ship between your browser and their servers.
BingX Regulatory Compliance (Licenses)
BingX holds a number of licenses and regulatory approvals to make sure compliance with monetary and authorized requirements. Listed here are the important thing licenses:
Registered with AUSTRAC, the Australian authorities company liable for stopping cash laundering and terrorism financingIt’s registered as a Cash Companies Enterprise (MSB) with FinCEN, a bureau of the U.S. Division of the Treasury.BingX is registered with FINTRAC, Canada’s monetary intelligence unit liable for monitoring monetary transactionsA license from the FCIS, the regulatory physique in Lithuania that oversees monetary transactions to fight cash laundering and monetary crimes.
BingX Charges and Prices Evaluate
BingX Spot Buying and selling Charges
BingX makes use of a maker-taker payment mannequin for spot buying and selling. Makers are customers who add liquidity to the order e-book by inserting restrict orders. Takers are customers who take away liquidity from the order e-book by fulfilling present orders. BingX rewards makers with a slight low cost in comparison with takers.
For many main cryptocurrency pairs, like BTC/USDT and ETH/USDT, BingX prices a 0.1% payment for each makers and takers. This implies for each $100 commerce, you’d pay a $0.10 payment. Nevertheless, The charges may range barely for particular pairs attributable to totally different liquidity ranges and buying and selling volumes.
BingX Futures Buying and selling Charges
As mentioned above, BingX provides two kinds of futures buying and selling: Perpetual Futures and Commonplace Futures. The payment construction differs for every kind:
Perpetual Futures Buying and selling Charges
Maker Payment: 0.02%Taker Payment: 0.05%
Commonplace Futures Charges is 0.045%
These charges apply when closing a place in normal futures trades. Perpetual futures charges are charged for each opening and shutting positions.
BingX Deposit & Withdrawal Charges
The excellent news is that BingX doesn’t cost any deposit charges. You’ll be able to switch your crypto to your BingX account with none deductions. Nevertheless, there is perhaps a minimal deposit requirement relying on the cryptocurrency. Make sure that to examine earlier than transferring to keep away from delays.
BingX prices a flat payment for every withdrawal, which varies relying on the particular cryptocurrency. This payment covers the price of processing the transaction on the blockchain community. Since community situations can change, withdrawal charges can fluctuate.
Listed here are the present BingX withdrawal charges (on the time of writing):
Bitcoin (BTC community): 0.000296 BTCEthereum (ERC20): 0.0029 ETHUSDT (TRC20): 1 USDTBNB (BEP20): 0.005 BNB
You’ll be able to examine the full BingX payment construction right here.
BingX VIP Buying and selling Charges Low cost
The BingX platform provides a VIP program that gives discounted charges primarily based on the person’s buying and selling quantity and different standards. The reductions apply to each spot and futures charges.
VIP Degree30-Day Spot Buying and selling Quantity (USDT)Maker Payment (Spot)Taker Payment (Spot)30-Day Futurest Quantity (USDT)Maker Payment (Perpetual Futures)Taker Payment (Perpetual Futures)VIP 1≥ 1,000,0000.035%0.06%≥ 10,000,0000.014%0.04%VIP 2≥ 2,000,0000.02%0.05%≥ 20,000,0000.012%0.0375%VIP 3≥ 4,000,0000.015%0.045%≥ 50,000,0000.01%0.035%VIP 4≥ 6,000,0000.0125%0.0375%≥ 100,000,0000.008%0.0315%VIP 5≥ 8,000,0000.01%0.0325%≥ 200,000,0000.006%0.03%
BingX additionally provides a Supreme VIP stage designed for merchants with extraordinarily excessive buying and selling volumes. For futures contract merchants, it’s essential to have over 600 million in quantity, which ends up in a 0% maker payment and 0.028% taker payment.
BingX Account Setup and Verification: Easy methods to Get Began?
Step 1: Making a BingX Account
Navigate to the BingX web site and head over to the top-right nook of the homepage. You’ll discover a button labeled “Signal Up” – click on on it to start the registration course of.
BingX provides a number of sign-up choices: electronic mail, cellphone quantity, and even your Google account. For this walkthrough, we’ll proceed with electronic mail registration. Enter your electronic mail tackle and create a powerful password that’s no less than 8 characters lengthy, combining each letters and numbers for higher safety. You too can enter a referral code to get some further join bonuses.
When you’ve crammed in your particulars, click on “Signal Up”. As a safety measure, you’ll be offered with a easy puzzle to resolve. After finishing the puzzle, a six-digit verification code shall be despatched to your electronic mail tackle. Enter this code on the web site to finalize your registration.
Step 2: Verifying Id on BingX
After creating your BingX account, it’s essential to solidify your id for each safety causes and to stick to monetary rules.
In your BingX dashboard, find the “Id Verification” part, usually discovered inside your account settings. Right here, you’ll want to supply some private particulars like your full identify, date of beginning, and present tackle.
Moreover, BingX would require a scan of a government-issued ID, resembling a passport or driver’s license, for verification functions. You’ll additionally have to take a selfie to finish the method. Make sure to comply with the on-screen directions diligently. Whereas the verification course of may take a quick interval to finalize, BingX will notify you as quickly because it’s full.
Step 3: Depositing Funds on BingX
After efficiently verifying your id, you’re now empowered to deposit funds into your BingX account. Head over to the “Deposits” button within the “Property” part in your dashboard, the place you’ll be offered with a wide range of deposit choices encompassing each cryptocurrencies and fiat currencies.
In case your choice leans in direction of depositing cryptocurrency, merely select the particular coin you need to switch. BingX will then present a novel deposit tackle particularly to your account. This tackle acts because the vacation spot to your crypto funds; rigorously switch them out of your exterior pockets to this BingX tackle to finish the deposit course of.
For these seeking to deposit fiat currencies, BingX provides two main strategies: P2P buying and selling and financial institution transfers.
On the principle dashboard, find the “Purchase Crypto” possibility nestled throughout the high menu. Click on on it and from the dropdown menu, choose “P2P Buying and selling”.The P2P buying and selling web page will current you with an inventory of accessible crypto and fiat currencies. Choose the particular fiat forex you plan to deposit, adopted by your most well-liked cost technique. This might embody financial institution switch, PayPal, and even native cost strategies supported in your area.Flick thru the record of accessible sellers. Every vendor can have their very own set of phrases, together with minimal and most commerce limits together with their accepted cost strategies. Select a vendor that aligns together with your wants and click on on “Purchase”.When you’ve chosen a vendor, enter the quantity of fiat forex you need to spend or the quantity of cryptocurrency you need to buy. Double-check all the main points earlier than confirming with a click on of “Purchase Now”.Following the vendor’s directions, finalize the cost utilizing your chosen technique. Make sure the switch is accomplished throughout the allotted timeframe to keep away from cancellation. As soon as the cost is full in your finish, click on on “Transferred, Notify Vendor” to tell them.
For depositing via fiat currencies, choose “Financial institution Switch” as your most well-liked deposit technique. BingX or its companion (Legend Buying and selling) will then give you their financial institution particulars for the switch.
Specify the quantity of fiat forex you need to deposit, guaranteeing it falls throughout the minimal and most deposit limits set by the alternate. With the main points confirmed, make the most of the offered financial institution particulars to provoke the switch of funds out of your checking account to BingX.
Step 4: Begin Buying and selling Crypto
Head over to the “Markets” part on the principle menu. That is the place you’ll discover a complete record of cryptocurrencies obtainable for buying and selling, with well-liked selections like Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) usually gracing the highest of the record for straightforward entry.
To provoke a commerce, merely click on on the particular cryptocurrency that piques your curiosity. This can whisk you away to a devoted buying and selling web page that includes a stay chart that visually depicts the worth fluctuations of your chosen coin.
Now, look in direction of the correct facet of your display screen the place you’ll be offered with clear choices to purchase or promote. For newcomers, a market order is the really helpful method, because it executes your commerce on the present market worth. Alternatively, you’ll be able to go for a restrict order. Merely enter the quantity you want to commerce and click on the corresponding “Purchase” button to set your commerce in movement.
As soon as your order is positioned, you’ll be able to monitor your holdings with ease. Navigate to the “My Property” part, the place you’ll discover a consolidated view of all of your cryptocurrency holdings together with their present worth.
BingX Buyer Help and Person Evaluations
BingX provides a number of alternative ways to get assist together with your account or buying and selling questions:
Assist Heart: It is a nice first cease for a lot of customers. BingX has an internet site with a assist heart that features FAQs, guides, and articles on a wide range of matters. You’ll be able to search via their library to see in case your query has already been answered.E mail: In case you can’t discover what you’re in search of within the Assist Heart, you’ll be able to all the time ship BingX an electronic mail at [email protected]. Their electronic mail assist crew is accessible 24/7.Dwell Chat: BingX additionally has stay chat assist should you need assistance instantly. You’ll be able to chat with a customer support consultant via a window on their web site.
BingX buyer opinions appear a little bit of a combined bag with constructive and unfavorable scores. Some customers on-line say they’ve had nice experiences and located BingX user-friendly and environment friendly. Others have reported dealing with bother reaching assist or getting their points resolved.
Taking a look at person scores of two.3/5 on TrustPilot, BingX will get usually constructive marks for its easy-to-use interface and academic sources, however some customers point out restricted options in comparison with different crypto buying and selling platforms and a need for extra cost strategies.
BingX Competitor Comparability
FeaturesBingXBitgetKuCoinFinest ForCopy Buying and sellingCopy Buying and selling and DeFi CompaniesDerivatives Buying and sellingTradable Property750+800+700+Buying and selling Charges0.1% maker/taker0.1% maker/ taker0.1% maker/takerDerivatives Buying and sellingSureSureSureMost Leverage125x125x on BTC and 100x on altcoins125xCopy Buying and sellingSureSure–P2P Buying and sellingSureSureSureEarn CompaniesEasy Earn and shark finFastened/versatile financial savings, BGB staking, structured merchandise like twin funding, shark fin, and vary sniperKCS staking, fastened and versatile financial savings, snowball, crypto lendingDeFi Pockets–Sure–Launchpad–SureSure (Highlight)SafetyVery ExcessiveVery ExcessiveExcessive
For detailed info, you can too learn our full Bitget alternate evaluate and KuCoin evaluate.
Last Ideas
Our BingX evaluate highlights that it’s a good match for each new and skilled crypto merchants as a result of it’s secure and simple to make use of. They’ve many various methods to commerce crypto, like shopping for and promoting cash (spot buying and selling), making bets on future costs (futures), copying what different merchants do (copy buying and selling), and establishing computerized trades (grid buying and selling).
Plus, BingX retains your funds secure with issues like 2FA and proof of reserves. Additionally they comply with the foundations set by governments in lots of areas. However BingX may not be excellent for everybody. There could possibly be fewer methods to deposit fiat currencies in your nation or it may not be obtainable the place you reside like the USA. It additionally doesn’t supply margin buying and selling and lending providers.
BingX Change Evaluate: FAQs
Can I commerce in BingX with out KYC verification?
Sure, you’ll be able to commerce on BingX with out finishing the complete KYC (Know Your Buyer) verification course of. Nevertheless, it’s essential to notice that your account can have some limitations with out finishing KYC like $50,000 each day withdrawal limits and no fiat deposits via P2P buying and selling. You’ll be able to enhance your withdrawal limits to five,000,000 USDT by finishing id verification.
Is BingX a superb alternate?
BingX is taken into account a dependable and user-friendly cryptocurrency alternate, making it a good selection for a lot of merchants. It provides a variety of buying and selling choices, together with spot buying and selling, futures buying and selling, copy buying and selling, and grid buying and selling, catering to each newcomers and skilled merchants.
The platform is thought for its aggressive charges, an enormous number of over 750 cryptocurrencies, and strong safety measures. Nevertheless, it’s essential to weigh the professionals and cons primarily based in your particular wants, as some customers may discover limitations in cost strategies or availability in sure areas.
Which nation made the BingX Change?
BingX was based in Singapore in 2018. Since then, it has expanded its operations globally, with branches in varied areas together with Asia, Oceania, Europe, and South America.
Is BingX trusted?
Sure, BingX is trusted by over 10 million merchants around the globe. The alternate prioritizes safety and transparency, implementing measures resembling 100% Proof of Reserves and present process common audits by respected corporations like Mazars and CertiK.
It additionally employs two-factor authentication (2FA), encrypted connections, and withdrawal whitelist options to reinforce person safety. Its regulatory compliance in a number of jurisdictions together with the EU and Australia additional helps its credibility as a reliable platform for cryptocurrency buying and selling.
Does BingX assist demo buying and selling?
Sure, BingX provides a demo buying and selling function for the crypto derivatives market solely. This enables customers to apply buying and selling with out risking actual cash, making it a wonderful device for newcomers to be taught buying and selling or for knowledgeable merchants to check new methods.