Pionex Review 2024 – Staking, AI-Trading Bots, Fees Explained

Pionex is a leading cryptocurrency exchange that’s making headlines for its competitive fees, top-notch security, world-class support, and advanced trading bots. After all, the crypto market is active 24 hours 7 days a week, so how do some expert traders manage to buy and sell cryptos throughout all hours of the day?

In this Pionex review, we will explore its advanced crypto trading bots, pricing structure, staking options, security, and much more. Let’s begin.

Pionex Summarized

 

Supported Cryptos 

Pionex offers 379 cryptocurrencies and 465 crypto trading pairs. This makes Pionex compete with the likes of Binance (374 coins), OKX (315 coins), as well as Coinbase and Kraken, which have close to 240 crypto assets listed. Its crypto offerings include a mix of the crypto OG – Bitcoin, classic altcoins such as BNB and SOL, the best meme coins like DOGE, as well as trendy new coins like INJ, WLD, and many more.

BTC/USDT is the most traded pair on Pionex, accounting for nearly half of its total trading volume, with ETH/USDT coming in second at over 30%, as per crypto data provider CoinGecko. So, you’ll have plenty of assets to trade on.

Pionex Spot & Futures Trading Fees Explained

Pionex has a competitive spot & futures trading fee structure, which aligns with the crypto industry norms. For spot trading, both the maker and taker fees are 0.05%. In futures trading, the maker fee is 0.02%, while the taker fee is 0.05%. For leveraged trading, the fees for both makers and takers are 0.1%.

Moreover, Pionex’s maker and taker pricing structure also consists of special discounts for VIP users, which is based on the rolling 30-day cumulative trading volume. This makes it favorable for high-volume traders to trade on Pionex. The VIP ranking of a trader is automatically updated daily based on the volume.

In comparison to Pionex, Binance charges regular users 0.1% for both maker and taker fees, which gets discounted to 0.075% when paid using Binance’s native token, BNB. Meanwhile, Coinbase has even higher fee rates, with its initial tier charging a 0.6% maker fee and a 0.4% taker fee. So, Pionex users clearly have an advantage here.

What Key Features Does Pionex Offer?

Next, in this Pionex exchange review, we will look at the features that this trading platform has to offer.

Spot, Futures, & Leveraged Trading

When it comes to trading, you can buy, sell, and trade crypto assets in the spot market, or you can trade futures, which is about betting on the future price of the underlying asset. In addition to spot and perpetual futures trading, Pionex supports leveraged trading for various coins.

However, Pionex’s Leveraged Tokens provide highly leveraged exposure that isn’t fixed but rather fluctuates within a specified range to mitigate liquidation risk. For example, BTC3L represents a 3x Long position on Bitcoin, while BTC3S indicates a 3x Short position on Bitcoin.

Trading Bots

Pionex offers 16 automated crypto trading bots for free. The most popular and best Pionex trading bot is Grid Trading Robots. Other options meanwhile include Leveraged Grid Bot, DCA Bot, Rebalancing Bot, Arbitrage Bot, Bitcoin and Ethereum Moon Bot, and Leveraged Reverse Grid Bot. Using these bots, you can execute different strategies to take advantage of different market conditions. There is also the option to copy Pionex traders, which is already used by thousands of users and boasts a historical performance of about 42% APR.

AI-driven PionexGPT

The AI-powered PionexGPT leverages the popular large language model (LLM) GPT to create Pine Script code based on the strategies you describe. These strategies can then be backtested, optimized, and automated using the signal bot on the popular charting platform TradingView.

Staking

When it comes to staking services, Pionex offers it for ETH and USDT. By locking up your ETH at varying time intervals, users can earn income at different rates of interest from liquid staking solutions Lido and Curve.

Earn Products

For those interested in different earning opportunities, Pionex offers Structured Products, where they can invest in both standard and customized crypto derivatives and earn USD and BTC-based returns. Other options include Earning Robot for automatic execution of options strategies, Dual Investments for high returns while you wait to buy low and sell high, and Easy Earn to safeguard principal.

On the institutional side, Pionex has a robo advisor, a professional team of traders, flexible OTC trading, and structured loans with adjustable rates and no margin calls.

Crypto Loan

At Pionex, you can borrow crypto at low interest to increase your purchasing power or hedge your risks. Using the Structured Loan product, you can borrow as much as 80% of your collateral value.

You also have the option to choose among different interest rates as well as loan terms, which means you can repay your loan at any time. Interestingly, Pionex also has a built-in protected mechanism for decreases in prices to make sure there are no margin calls. This reduces liquidity risk for borrowers.

What Trading Bots Are Available at Pionex?

Now comes the most attractive feature: Pionex crypto trading bots. Pionex offers 16 crypto trading bots in total. These bots are Grid Trading Bot, Leveraged Grid Bot, Reverse Grid Bot, Leveraged Reverse Grid Bot, Smart Trade Bot, Margin Grid Bot, Infinity Grid Bot, TWAP Bot, Arbitrage Bot, Rebalancing Bot, Spot Futures Arbitrage Bot, DCA Bot, Signal Bot, Trailing Buy Bot, Trailing Sell Bot, and Bitcoin and Ethereum Moon Bot.

Top Pionex Bots Explained

Now, let’s explore some of the most popular crypto trading bots Pionex offers and how you can use them.

#1. Grid Trading Bot

This bot ensures you don’t miss market opportunities by automatically buying low and selling high within a predetermined price range. As for how to use the Pionex grid trading bot, you first set up the bot, then it purchases a specified percentage of the crypto at the current market price and places a sell order above it. The bot will also allocate a portion of funds to place buy orders below the current price so that it can continually execute ‘buy low and sell high’ trades within the designated price range.

#2. Smart Trade Bot

Using this bot, traders can schedule their buying and selling at the same time with the take profit and stop loss option. This not only effectively illustrates Pionex trading bot results but also allows traders to on uptrend profit and avoid the risk of huge losses. Such features make Smart Trade Bot great for the bull market.

#3. TWAP Bot

Time-weighted average price (TWAP) is all about having a lower average price. To use it, you choose the ‘Order Period’ (from 10 Sec, 30 Sec, 1 Min, and 5 Min options) and the buy or sell amount for each time.

#4. DCA (Martingale) Bot

This Pionex trading bot employs a combined laddering-buy with a sell-all-at-once strategy. It allocates more funds to buy at every dip to reduce the average cost. To make the best of this bot, you must choose coins that are showing strong performance.

#5. Rebalancing Bot

If you are interested in more than one coin and want to hold it for a long time, then this Pionex trading bot is for you. It comes with dual-coin and multi-coin modes with support for spot and leveraged options. For multi-coin mode, you can either create your own coin or just click on the ‘choose an index’ button, which will provide you with options like ‘Trending,’ ‘Most profitable,’ and ‘Latest published.’

You also have to fill in parameters, including trigger price and rebalancing mode. If you are wondering about Pionex trading bot fees, there aren’t any, as they are free to use. The only fee that users have to pay is the trading fee.

Pionex Mobile App Reviewed

The Pionex mobile application is available for both Android and iOS devices. Apple users can download the app on the App Store, where it has a 4+ rating. The app is compatible with iOS 13.0 or later. Android users can download the app on Google Play, where the app’s got over a million downloads and a 4.4 rating.

The Pionex app has a pretty clean and intuitive design with a black background that makes texts pop out. You’ll find offers, announcements, your balance, and options to deposit, withdraw, CopyTrade, and support right there on the main page. At the bottom of the page, you can access markets, trade, earn, and your account tabs.

On the app, you can trade manually or choose among the many available trading bots easily. The good thing is that Pionex follows a mobile-first approach, making new updates available on its apps first before they are launched on its web application.

Pionex Staking 

Staking at Pionex is supported by Lido or Curve Finance with zero leverage. So, you put your ETH in the Staking section of Pionex’s “Earn” option and then choose your duration and the amount you want to lock in. In terms of time duration, you have four options to choose from — flexible, 30 days, 90 days, and 180 days. Each of these options offers varying rates of interest, which are currently 2.47%, 2.70%, 2.92%, and 3.37%, respectively.

Pionex then puts the funds to use in the stETH AMM pool of Curve or Lido to generate returns which are then distributed to Pionex users based on their invested amount.

Pionex Supported Payment Options

The trading platform offers two options to make deposits at Pionex: Express and bank transfer. Under Express, you can buy crypto using Visa, Mastercard, GPay, Apple Pay, Banxa, Alchemy Pay, Advcash, and Simplex. Through Express, Pionex is able to support USDT purchases for USD, GBP, EUR, CAD, AUD, JPY, KRW, TWD, THB, SEK, IDR, MYR, VND, NOK, CHF, DKK, PLN, BGN, ZAR, HRK, HUF, RSD, SAR, QAR, CZK, KWD, AED, and BHD.

The other option is bank transfers, under which EUR, GBP, and BRL currencies are supported via Sepa/Sepa Instant through Pionex UAB and AlchemyPay. As for minimum deposits, it should be above $5 for Express and above $10 for bank transfers in equivalent fiat currency. For crypto deposits, the minimum amount varies for each coin. Pionex charges no fees for deposits, though network fees are applied depending on the blockchain.

Withdrawal Times 

For withdrawals, the fees will depend on the coin and the blockchain you have chosen. It’s the same for withdrawal times, though cashing out a huge amount will require a manual review, which can cause a delay. It is also important to note here that in order to withdraw your funds, you must get verified. Then, depending on your KYC level, you can withdraw a certain amount.

There are two KYC levels; the first level would allow you to withdraw 20,0000 USDT, and under level two, you can withdraw 1 million USDT. According to the official site, Pionex Lite, which is an app that allows you to purchase crypto with USD via a credit or debit card, withdrawals take 1-5 working days.

Pionex Customer Service

To resolve customer issues, Pionex has a FAQ section that covers the usual questions about the platform and its various features. Its Help Center further helps you with announcements, tutorials, and other related information. Now, to access customer support, the trading platform has email and online support available from Monday to Sunday, from 8:00 AM to 9:30 PM.

Meanwhile, its social media includes X (Previously Twitter), Discord, Facebook, Telegram, and the mobile messenger app Line. When it comes to customer satisfaction, we took a look at Pionex’s rating on Trustpilot, which is average at 3.3, which is comparatively better than other crypto exchanges like Coinbase and Binance.

Is Pionex Legit?

Having been in the market for five years now, Pionex has proved itself as a legit platform. From a regulatory standpoint, Pionex has received a Money Services Business (MSB) license from FinCEN, a regulatory agency that enforces money laundering laws. The license allows Pionex’s US-based platform to offer its services legally across the United States.

Its Irish subsidiary, Pionew Ireland, has also received approval to operate as a virtual asset service provider (VASP). For security, Pionex utilizes KYC and 2FA. Moreover, it has a vulnerability bounty program to enhance the platform’s security. It further utilizes firewalls, data encryption, and physical access controls to data centers. In 2023, the trading platform completed independent third-party audits. Its audit report is available for public viewing.

Where Could Pionex Improve?

We have already covered all that’s offered by the platform and where it shines in this Pionex review, but what about the areas it lacks? So, here are a few things Pionex can improve:- Fiat withdrawals are the biggest area Pionex needs to work on to provide a more fulfilling user experience. – Regulatory approval in more countries would work in Pionex’s favor and would give users peace of mind as the crypto regulatory landscape takes shape.

What’s Our Methodology?

We are committed to empowering our users by equipping them with actionable insights they can trust and rely on to make informed decisions when dealing with crypto assets. Our crypto exchange reviews, done under a well-laid-out professional evaluation framework, are holistic and unbiased in their approach.

They assess all relevant services and products with the same nuance and intensity. In reviewing trade bots, we aren’t limited to the technological side, as we also elaborate on their real-life applicability and profitability. We always ensure that our reviews are research-oriented and up-to-date so crypto enthusiasts have the most relevant information, making sure they get the best value.

Conclusion

This Pionex review has found that the exchange offers useful features, with the most prominent being the availability of free trading bots. By using these trading bots, investors can take advantage of unique opportunities without needing to monitor the markets all the time. At Pionex, beginners can utilize its copy trading feature to learn from successful and experienced traders, and professionals can put their strategies to use via AI-driven PionexGPT while paying the competitive 0.05% transaction fees.

There are also several other Pionex services that traders can benefit from, such as staking, several earning options, and crypto loans that can help increase their crypto stash. So, if you want to automate your crypto trading strategies, explore futures, staking and low fees, Pionex is worth giving a try in 2024.

 

FAQs

Is Pionex good for beginners?

Yes, Pionex is a good platform for beginners, as it is pretty easy to use and offers popular cryptos like BTC, ETH, and DOGE to manually trade or choose from many trading bots, in case you prefer automated trading. Its copy trading feature is another great way for novice traders to get started.

Can you make money with Pionex?

Yes, you can make money with Pionex by leveraging its 16 free trading bots to capitalize on different crypto market conditions. Additionally, you only have to pay 0.05% transaction fees and can utilize the different earning options that Pionex offers.

Can you lose money from the Pionex grid bot?

Yes, it is possible to lose money with the Pionex grid bot. Although it is among the best Pionex trading bots, there’s always a risk involved when trading any financial instruments, either manually or automatically, so only invest what you can afford to lose.

References 

1. Pionex Statistics: Markets, Trading Volume & Trust Score (Coingecko)
2. Cryptocurrency Regulation Tracker (Atlantic Council)
3. Money Services Business Registration (Financial Crimes Enforcement Network)
4. How Do Crypto Trading Bots Work? Mastering Crypto With Bots (Techguide)
5. Crypto Exchange Fees Comparison (DailyCoin)
6. Algorithmic Trading: Basics, Strategies, Pros & Cons (Fintech Demand)
7. Liquid Staking and Its Benefits: A Deep Dive by Lido (CoinMarketCap)
8. Read Customer Reviews of Pionex.com (Trustpilot)