Leverage Risk Calculator
Understanding Leverage Risk
High leverage can amplify both profits AND losses. At BiKing, you can trade with up to 100x leverage. This means a small price movement can wipe out your entire account. The article explains why this makes BiKing dangerously risky for beginners.
Risk Assessment
BiKing isn’t one of those crypto exchanges you hear about on mainstream news. You won’t find it listed alongside Binance, Coinbase, or Kraken in beginner guides. That’s not an accident. BiKing operates in the shadows of the crypto world - no government oversight, no public audits, and a history of security failures that should make any rational trader pause. If you’re considering BiKing for trading, here’s the truth: it’s not a platform for learning. It’s a gamble with your money.
What BiKing Actually Offers
BiKing supports trading in about 10 major cryptocurrencies, including Bitcoin, Ethereum, Tether, Litecoin, and Monero - though Monero and Dash were quietly removed in 2023 after regulatory pressure. The exchange offers both a web platform and a mobile app, making it easy to log in and trade from anywhere. That’s the only thing that feels modern. Its main selling point? High leverage trading. You can borrow up to 100x your deposit to open positions. Sounds exciting? It is - until you lose everything. High leverage isn’t a feature for beginners. It’s a trap. One bad price swing, and your entire balance can vanish. Regulated exchanges like Bybit or KuCoin cap leverage at 10x-20x for retail users. BiKing doesn’t. That alone tells you who they’re targeting: people chasing quick wins, not long-term growth.Security: A History of Breaches
Security is where BiKing falls apart. In 2020 and again in 2021, hackers stole over $8 million from user accounts. How? They exploited SMS-based two-factor authentication (2FA). That’s like locking your front door with a paperclip. SMS 2FA is one of the weakest forms of protection. Hackers can intercept codes via SIM swapping or phishing. Top exchanges use authenticator apps like Google Authenticator or hardware keys like YubiKey. BiKing doesn’t offer those options. Even worse, there’s no evidence BiKing uses cold storage for the majority of user funds. Cold storage means keeping crypto offline, away from hackers. Binance, Kraken, and Coinbase store 95%+ of assets offline. BiKing’s lack of transparency suggests most of your money is sitting in hot wallets - online and vulnerable. In 2023 alone, hackers stole $2.38 billion across the entire crypto industry. Most of those losses happened on platforms with weak security. BiKing is on that list.No Regulation, No Protection
BiKing isn’t licensed anywhere. Not by the SEC, not by the FCA, not by any financial authority. That means if they disappear tomorrow - or if your funds get stolen - you have zero legal recourse. No insurance. No compensation fund. No way to file a complaint with a regulator. Compare that to Coinbase, which holds insurance covering $255 million in digital assets. Or Kraken, which keeps its funds in cold storage and undergoes regular third-party audits. BiKing offers none of that. No audits. No reports. No transparency. Just a website and a promise. In 2023, regulators worldwide started cracking down on unregulated exchanges. The Financial Action Task Force (FATF) now requires exchanges to track suspicious transactions and report them. BiKing doesn’t file Suspicious Activity Reports (SARs). That’s a red flag. It suggests they either can’t or won’t comply with basic anti-money laundering rules.
Wash Trading and Fake Volume
In 2021, an independent analysis flagged BiKing for possible wash trading - where bots buy and sell the same asset among fake accounts to inflate trading volume. This tricks new users into thinking the market is active and liquid. Regulated exchanges avoid this because it’s illegal. Unregulated ones? They do it all the time. BiKing denied the claims. But here’s the problem: they’ve never published real trading volume data. No API access. No third-party verification. You can’t check if the numbers are real. That’s not normal. It’s a classic sign of a platform trying to look bigger than it is.What Users Are Saying
Public reviews are scarce - because most people who lost money on BiKing don’t come back. But from scattered forum posts and Reddit threads, common complaints include:- Withdrawals taking days or never arriving
- Customer support ignoring messages
- Unexpected delistings of privacy coins like Monero
- Accounts frozen without warning
Is BiKing Safe for Beginners?
Absolutely not. If you’re new to crypto, BiKing is one of the worst places you can start. High leverage? Check. Weak security? Check. No regulation? Check. No safety nets? Check. This platform is designed for reckless traders who think they can outsmart the market. Spoiler: you can’t. Even experienced traders should think twice. The $8 million in stolen funds isn’t just a number. That’s real people who lost life savings. If you’re trading on BiKing, you’re assuming all the risk - and there’s no one to turn to if things go wrong.What Should You Do Instead?
If you want to trade crypto safely, stick with platforms that have:- Regulatory licenses (SEC, FCA, ASIC, etc.)
- Publicly verified cold storage
- Multi-factor authentication (not SMS)
- Insurance for user funds
- Transparent fee structures
The Bottom Line
BiKing is a high-risk, unregulated exchange with a proven track record of security failures, lack of transparency, and user fund losses. Its high leverage and wide coin selection might look tempting, but they come at a dangerous cost. There’s no evidence it’s improving. No audits. No compliance. No protection. In 2025, the crypto market is more regulated than ever. Exchanges that ignore security and compliance are dying off. BiKing isn’t an exception - it’s a warning. If you’re looking to trade crypto, don’t risk your assets on a platform that doesn’t care if you lose them.Is BiKing a scam?
BiKing isn’t technically a scam - it lets you trade crypto. But it operates with no regulation, has been hacked twice, and lost over $8 million in user funds. It lacks basic protections like cold storage, insurance, or secure authentication. Many experts consider it a high-risk platform that exploits inexperienced traders. Calling it a scam is emotionally understandable - but legally, it’s more accurate to call it dangerously negligent.
Can I withdraw my money from BiKing?
Some users report successful withdrawals, but others say funds are frozen for days or disappear entirely. There’s no official withdrawal time frame, and customer support is notoriously unresponsive. If you’re thinking of depositing money, assume it might not be easy to get out. Always test with a small amount first - and never deposit more than you’re willing to lose.
Why did BiKing delist Monero and Dash?
BiKing removed Monero and Dash in 2023 under regulatory pressure. These privacy coins make transactions hard to trace, which conflicts with global anti-money laundering rules. Regulated exchanges usually give users advance notice before delisting. BiKing didn’t. That sudden removal angered users and raised red flags about their willingness to comply with regulations - even when forced.
Does BiKing have insurance for user funds?
No. BiKing does not offer any insurance for user deposits. Unlike Coinbase, which insures $255 million in digital assets, or Kraken, which uses third-party custodians with insurance, BiKing stores funds in hot wallets without protection. If hackers break in again, your money is gone - with no chance of recovery.
What’s the safest alternative to BiKing?
For safety, use Coinbase or Kraken. Both are regulated in the U.S. and Europe, use cold storage for most assets, offer hardware key 2FA, and carry insurance for user funds. If you want higher leverage, Bybit (regulated in select regions) offers up to 125x leverage with better security and transparency than BiKing. Never trade on an exchange without regulation or insurance.
Can I use BiKing with a VPN?
Yes, you can use a VPN to access BiKing - but that doesn’t make it safer. A VPN hides your location, but it doesn’t fix weak security, lack of regulation, or the risk of hacking. If you’re using a VPN to bypass regional restrictions, you’re already operating in a gray area. BiKing doesn’t offer legal protections, so using a VPN won’t protect your funds if something goes wrong.
Does BiKing charge withdrawal fees?
BiKing doesn’t publicly list its fee structure. Withdrawal fees vary by coin and are often hidden until you initiate the transaction. Some users report fees as high as 5-10% on small withdrawals. Without transparent pricing, you’re gambling not just on the market - but on the exchange’s arbitrary charges.
Are there any positive reviews of BiKing?
A few users praise its wide coin selection and fast order execution - but these reviews are rare and often come from people who haven’t lost money yet. Positive feedback tends to disappear after a breach or withdrawal issue. Most long-term users avoid BiKing after one bad experience. The absence of verified, detailed positive reviews is itself a warning sign.
If you’re still considering BiKing, ask yourself this: Would you hand your cash to a stranger on the street who says, ‘Trust me, I’ll keep it safe’? BiKing is the digital version of that. Save yourself the stress. Use a regulated exchange - your money will thank you.
Michael Brooks
November 11, 2025 AT 06:04BiKing is a textbook example of why crypto regulation matters. I've seen too many new traders get lured in by 100x leverage and then vanish overnight. The lack of cold storage alone should be a dealbreaker. If you're not using a platform that publishes proof of reserves, you're not trading-you're gambling with your life savings.
Stick with Kraken or Coinbase. The fees are higher, sure, but you're paying for security, not fantasy.
There's no such thing as a free lunch in crypto. If it sounds too good to be true, it's because it is.
Ashley Mona
November 11, 2025 AT 17:53Same. I used BiKing for a week in 2022. Deposited $500, made a few trades, then tried to withdraw $200. Took 11 days. Got a bot reply saying 'processing.' Never got it back. Never heard from them again. I learned the hard way: if your exchange doesn't have a physical address you can Google, walk away.
Also, they delisted Monero without warning? That's not a business-it's a casino that changes the rules mid-game.