BBOD Exchange Review: Is It Legit? Bitcoin Derivatives, Trading & Fees

Update May, 2020: BBOD has been acquired by CoinDeal and no longer available for trading.

BBOD is an exciting new cryptocurrency leverage platform that offers perpetual futures contracts that can be traded with 50x leverage and settlement in the native token BBD or the stablecoin TUSD.

Trading with BBD allows its users to enjoy crypto trading with zero fees which is perfect for high frequency and crypto day traders (no commissions to eat into profits). The option to base profits, losses and account balance in the stablecoin TUSD allows traders to hedge against the high volatility of crypto markets.

While we aim to provide you with accurate and the latest information, it's always best that you regularly visit their site to keep updated with any changes that may occur afterwards such as the launch of new trading products.

BBOD site

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BBOD Exchange Review

BBOD ("Blockchain Board of Derivatives") is a Bitcoin perpetual futures trading platform. The platform is non-custodial which means BBOD does not hold either the clients’ digital assets or their private keys. Users can trade in a safe and anonymous manner with funds kept in a single wallet on the blockchain. 

BBOD features a high-speed, real-time, ultra-fast matching engine that operates in a decentralized manner on the blockchain. The platform offers a variety of crypto contracts that can be traded up to 50x leverage against TUSD.  

BBOD is partnered with one of the most reputable electronic exchange operators worldwide GMEX Group, which has developed exclusively for BBOD a state of the art price matching.

The trading platform aims to add several assets in the near future including commodities and Forex pairs.

Why Trade With BBOD?

You should trade with BBOD if:

  • You are tired of paying excessive trading fees on other leverage exchanges
  • You want a safe crypto platform that cannot be hacked
  • You want to remain anonymous
  • You like a charting platform that is responsive with advanced trading tools
  • You want to trade on an exchange with leverage
  • You are looking for a global crypto exchange

Is BBOD Legit / Safe?

Put simply, yes. BBOD is a non-custodial exchange that operates on the blockchain in a decentralizes manner, so trading is safe and anonymous. 

User funds and private keys are not stored by BBOD, unlike other crypto leverage trading exchanges. User's profits, losses and balance are stored within its own smart contract wallet on the Ethereum blockchain.

As funds are not kept on BBOD, the risk of hackers and theft is eliminated.  

Registering With BBOD

BBOD is a non-custodial exchange, customers and trading are anonymous therefore there is no KYC process to register. All you need is a valid email address to start trading immediately!

To create an account on BBOD:

  1. Visit the BBOD site and click on 'Register' in the top right corner
  2. Enter in your Username, Email address, Password and your ETH wallet
  3. Check your email to verify your email address
  4. Verify your email
  5. That's it! You’re ready to get started
BBOD Register

Depositing Funds on BBOD

BBOD accepts deposits only in BBD or TUSD which can be purchased directly on the platform.

BBOD has integration with Coin Swap providers Changelly, Trust Token and ShapeShift which offer a variety of deposit methods such as bank transfer, credit/debit card (VISA) to purchase TUSD, Bitcoin and other altcoins.

These providers supports several assets that can be swapped for TUSD so you can begin trading in minutes. 

A flat fee of 0.5% applies to swap any supported digital asset.

BBOD tusd

BBOD Trading & Interface

For all traders alike, the charting interface is one of the most important considerations when selecting a crypto exchange. Especially for traders that rely on technical analysis to find an edge in the market.

When selecting a cryptocurrency exchange, you must be comfortable with the trading interface. It must feel right as this is where most of your time will be spent!

When you first login to BBOD Exchange, the first thing you will notice is how well laid out and simple the trading dashboard is.  There are no complicated menus or distractions. Just an easy to use trading interface.

On the left, the trading pairs are listed where you can switch between the different asset classes.  

BBOD trading

Seasoned crypto traders will notice the live price charts are provided by TradingView that are renowned for smooth, intuitive and clean charts. Traders will be able to make use of advanced trading tools and indicators provided by TradingView to refine their trading edge in maximize profits and minimize risk. 

TradingView charts offer a wide range of time frames and tools to draw trend lines, add indicators and chart patterns to perfectly time a trade order using a market, limit or stop order.

We did not see a margin, profit or liquidation calculator on the BBOD interface.

BBOD indicators

BBOD charts includes all of the advanced trading tools that you would typically expect for a modern cryptocurrency trading platform that includes an expansive suite of chart indicators that can be added to the chart such as:

  • Simple Moving Averages
  • Relative Strength Index
  • Ichimoku
  • Bollinger Bands
  • Average True Range
  • And many more...

How To Trade Using BBOD

To enter a trade with BBOD, navigate to the 'Order Execution' trading box on the right of the trading window.

BBOD offers several different order types which include:

  • Market
  • Limit 
  • Stop Order (Market and Limit)
BBOD order execution

Limit Order allows you to buy or sell an asset at a specified price. For example, if you want to purchase ETH/TUSD contracts at a price of $200 or less, you can set a limit buy order that will not be filled unless the market reaches your specified price.

Market Order allows you to buy or sell an asset at the best available price in that pairs order book. This type of order should be used cautiously as it can lead to potential bad fill prices in less liquid pairs.

Stop Order allows you to buy or sell when the price of an asset reaches a specified value. This order type is mostly used as a risk management tool to protect profits and limit losses.

BBOD Trading Assets

BBOD has 100+ trading assets which fall under two types of contracts:

Perpetual contracts allows you to speculate on whether an asset’s price will move up or down, with the use of leverage and without the need to own the asset. BBOD offers perpetual contracts on:

  • Bitcoin (BTC/TUSD)
  • Ether (ETH/TUSD)
  • Litecoin (LTC/TUSD)
  • EOS (EOS/TUSD)
  • Digibyte (DGB/TUSD)
BBOD coins

Futures contracts have an expiration date and may trade at significantly different prices than the underlying asset. BBOD futures contracts have an expiration date with a quarterly maturity schedule. BBOD offers fixed maturity futures contracts on:

  • Bitcoin (BTC/TUSD)
  • Ether (ETH/TUSD)

According to the BBOD website, the team is planning to introduce traditional markets at the end of 2020. This means you don't have to settle for trading just the cryptocurrency markets if there are no trading opportunities.

You will be able to switch over to the traditional financial markets that will include:

  • Equity Indices
  • Stocks
  • ETFs
  • Forex
  • Commodities
  • Treasuries

By offering traditional markets to trade, BBOD will be competing with other established cryptocurrency leverage platforms such as Prime XBT and WCX which currently provides users to trade the traditional markets using Bitcoin as collateral. 

BBOD Assets

BBOD Leverage

BBOD offers 50x leverage on Bitcoin and Ethereum contracts and 25x leverage on EOS, Litecoin and Digibyte.  

Leverage trading can be a powerful tool for a trader. You can use it to take advantage of comparatively small price movements to make your balance grow faster. 

It works by putting down a fraction of the full value of your trade – and the exchange provides the rest of the deposit to facilitate a much larger position size without tying up your capital. It can also have the opposite effect and increase the size of your losses.

Crypto Asset

Leverage

Bitcoin

50x

Ethereum

50x

EOS

25x

Litecoin

25x

Digibyte

25x

BBOD utilizes cross margin as a default margin mode. So, there is no leverage slider to adjust the amount of leverage. All funds located in the margin account are available for margin trading. Cross-margin uses the total amount of equity available in the margin account as collateral for all positions. This allows you to open considerably larger positions than normal.

BBOD Fees

Exchange fees are an important consideration when selecting a cryptocurrency trading exchange. It becomes even more critical when trading larger position sizes and on a leveraged exchange where you are paying fees on positions that are much larger than your margin.

Deposit / Withdrawal

BBOD does not charge a deposit or withdrawal fee.  

Trading Fees

BBOD is a Zero-Fee Crypto Futures Exchange when traders use the native token BBD. If you decide to trade with other assets as collateral, a maker and taker fee structure applies as shown below.

Crypto Asset

Trading Fee

Bitcoin

-0.025% (Maker)

0.075% (Taker)

Ethereum

-0.025% (Maker)

0.075% (Taker)

EOS

-0.045% (Maker)

0.145% (Taker)

Litecoin

-0.045% (Maker)

0.145% (Taker)

Digibyte

-0.045% (Maker)

0.145% (Taker)

BBOD Cashback

Traders are eligible to receive up to 20% off trading fees based on their daily trading volume and BBD balance. 

BBOD cashback

BBOD Security

BBOD does not hold either the clients’ digital assets or their private keys. User's trading account funds are stored safely in their own smart contract wallet on the Ethereum blockchain. This means there is little to no risk of hackers stealing client funds through the exchange. This means that BBOD traders can remain anonymous and safe.

BBOD Customer Support

The BBOD site includes an extensive FAQ and guide section on how to use the trading platform. The knowledge base should address new users queries and concerns. To get in touch directly with the team, there is a ticket system.

We have used it twice on separate occasions and have not received a response from BBOD customer support. This is certainly a big area for improvement as it gives the wrong impression to beginners who are just getting started with the platform.

Supported Countries

BBOD is a cryptocurrency trading platform that allows clients to use its services from all over the world, apart from a select group of countries due to jurisdictional restrictions on cryptocurrencies. Countries that may not trade on BBOD include:

  • United States of America
  • Cuba
  • Crimea and Sevastopol
  • Iran
  • Syria
  • Pakistan
  • North Korea
  • Sudan
  • Ghana
  • Ethiopia 
  • Tunisia
  • Yemen

BBOD Alternatives

BYBIT

Bybit

ByBit is a derivatives cryptocurrency trading platform with an emphasis on leverage trading with up to 100x leverage on Bitcoin and Etherium trading pairs. Bybit has become one of the best crypto exchanges in the world. 

plus500

Plus500

Plus500 is a CFD providers that offers its massive customer base to trade the world's most popular crypto assets with up to 30x leverage such as Bitcoin, Ethereum, Litecoin, Neo, Ripple XRP, EOS, Cardano, Tron and Monero.

Disclaimer: your capital is at risk

binance

Binance

Binance is the largest cryptocurrency exchange by trade volume and one of the fastest trading services providers for blockchain ecosystem. The exchange has seen an astronomical growth and is a premium crypto trading platform. 

Frequently Asked Questions

Where is BBOD Located?

BBOD was incorporated in the Republic of Seychelles. The team consists of 35 staff that are based in the UK, Poland, Hong Kong and Korea.  

What Is BBD Token?

BBD is an ERC20 token which runs on the Ethereum Blockchain. BBD has a variety of uses but the main one is allowing traders to save money on fees.  

Do I Need To Submit KYC Documents To Start Trading?

No, there are no KYC procedures or need to upload personnel information to start trading with BBOD.  

Can I Deposit TUSD Via Bank Card or Credit Card?

Yes, BBOD has a direct interface with Changelly that allows you to buy cryptocurrency using your bank card or Credit Card and have it transferred to your Ethereum smart contract wallet. 

Does BBOD Have A Testnet / Demo / Paper Trading Account?

Yes, BBOD offers a testnet to allow its users to trade Bitcoin and other crypto assets with virtual funds. This also allows them to become familiar with using the crypto platform. 

The testnet crypto prices do not fully replicate the live market and operate in a simulated environment only. You can register for the BBOD testnet at demo.bbod.io.

Does BBOD Have A Mobile Trading App?

BBOD does not currently have a mobile phone app for iOS or Android devices. The website states this feature is coming soon. The web version of the platform is mobile friendly and can be used on smart phones.  

Does BBOD Have An Affiliate Program?

BBOD affiliate partners receive 25% of trading fees paid by their referrals.

Can US Customers Trade With BBOD?

US customers are not allowed to trade with BBOD due to strict regulations that are outside of the exchange's control.

Conclusion: BBOD Review

To conclude our BBOD review, the trading platform is suitable for retail and institutional clients that offers a secure and transparent marketplace to trade Bitcoin and a wide range of Altcoins futures contracts with a stablecoin collateral.

The platform is designed for safety with each client funds held in their own decentralized smart contract account. No private keys are created therefore the keys can not be stolen by hackers.

By offering the option for zero trading fees, BBOD has the foundation to rival competitor exchanges for trading volume if it can keep innovating the platform features and trading products. The only area of improvement we found was the customer service. If this can be improved, BBOD will be an exchange to watch out for in the near future.

Risk management tools and platform features are very important for any prospective cryptocurrency investor. The following cryptocurrency trading exchanges - in addition to the above exchange - provide advanced trading features, technical indicators and a smooth, mobile-responsive charting interface that will be suited to beginners and professional crypto traders. 

  1. Bybit
  2. PrimeXBT
  3. Binance
  4. BitMEX
  5. Plus500
  6. FTX
  7. BaseFEX
  8. PrimeBit
  9. BitForex
  10. BLADE
  11. Quadency
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Kevin
Kevin is the founder of hedgewithcrypto and is passionate about blockchain technology. He has been involved with Bitcoin since 2016 after discovering it's potential as an alternative to fiat currency. He is also a trader with over 8 years of experience and is now trading crypto using various platforms. Now, he is focussed on helping others learn about cryptocurrencies via hedgewithcrypto.