SINGAPORE, Jan. 24, 2023 /PRNewswire/ -- BingX, one of the leading crypto exchanges, is excited to announce its user base has grown over 350% since last year. BingX also reported a steady growth of 280% in year-on-year trading volume in December 2022 after implementing a zero-fee trading policy. As the pioneer in social trading, BingX amassed more than 8,000 professional traders with around 4 million followers and executed 130 million copy trading orders.
2022 was a year full of ups and downs. Significant changes made it challenging to keep up with them all. Nevertheless, BingX witnessed steady growth and hired for roles across its offices despite the current market downturn with more than 200 positions including PR managers, product development, customer service, and affiliates in Germany, South Korea, Turkey, Japan, Vietnam, Russia, and Spain.
In the second half of 2022, BingX announced its strategic transformation - from a top social trading platform into a leading crypto exchange. The mission is to provide trustworthy and transparent service for users, make crypto accessible and friendly to all. BingX aims to become a gateway for the next billion crypto users. In order to keep up with this, BingX launched a variety of first-ever products in 2022, including but not limited to Signal Trading, Copy Trade Subsidy Vouchers, Futures Grid Trading, and Infinity Grid Robot.
In September 2022, BingX introduced open-ended bug bounty programs on Hackenproof in order to improve overall security and risk control of the platform. After FTX collapsed, BingX took the lead and published its Proof-of-Reserve report verified by Mazars, offering additional transparency and reassurance. To prevent potential public crises and help battered investors through this difficult time, BingX came forward and set up a Special Relief Fund of USDT 5 Million to help all partners that suffered from FTX's fall. In the same month, BingX announced a charity fund of $10 million for humanitarian endeavours, which would be allocated to donations of charitable organisations, public welfare activities, and disaster relief around the globe.
BingX continued to achieve globalization and supported 7 more languages - Portuguese, German, Persian, Thai, Arabic, French, and Italian. To date, BingX built a community of millions in more than 150 countries across 13 languages. Verified traders can share their chart analyses, technical tactics, and articles with followers at BingX Feed, a hybrid feature of social media and trading. BingX also spread its footprint to many countries and communicated with players in this field. In November 2022, BingX sponsored and attended TOKEN2049 London and co-hosted a big Blockchain Cocktail Party together with Sumsub and Chainup for further sharing. Worldwide fans were invited to watch and celebrate the 2022 World Cup with BingX offline according to the game schedule and customized souvenirs were distributed in local communities.
"2022 was tough for everyone. For many, life has changed, but what remains unchanged is hope. We should feel proud that we went through it," said Hasan Bracic, Vice President of BingX. "Despite all the hardships, we see tenacity and unity and we remain stable and smooth in the end. This is our biggest gain in 2022. Change is ahead, and BingX is rolling up its sleeves for new challenges and continues to grow at an exponential rate. BingX will have more confidence and strength to serve as a leading crypto exchange for global economic recovery. And we believe the crypto industry will certainly usher in a brighter future."
Moving forward to 2023, BingX is committed to building a reliable, innovative, friendly, and social crypto ecosystem, and it is earnestly practising that. Safety and transparency are BingX's top priorities. BingX keeps leading in cutting-edge crypto innovation and providing better service to both professional and new traders. In 2023 BingX will work on a complex trading ecosystem with a better growth path for traders. A closed loop of strategic copy trading function will also be completed. And BingX will continue to expand its global workforce strategically to further position itself as a leading crypto exchange.
BingX is a leading crypto exchange that offers spot, derivatives, copy, and grid trading services to over 100 countries and regions worldwide with over 5 million users. BingX continues to connect users with expert traders and the platform in a safe and innovative way.