Bololex Review – Is This Exchange Worth Using?

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By Austin DeNoce

Last Updated

Bololex Review

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Bololex Review

  • Exchange/Trading
  • Crypto Games
  • Staking
  • Customer Support
4.1

Summary

Bololex is a centralized exchange platform designed to help users buy, sell, store, check the price of, and stake crypto assets. This exchange supports hundreds of markets and crypto-assets including ETH, BTC, and more. Bololex also includes features such as crypto games, gaming pools, and staking. Learn more about this crypto exchange by reading our complete Bololex review.

Pros

  • Smooth and aesthetic trading interface
  • Crypto games and game pools
  • Low fees
  • Quick e-mail sign up

Cons

  • Missing a lot of major crypto assets
  • No major crypto assets supported for staking
  • Only market and limit orders (no stop orders) for trading

About Bololex

Bololex is a Russian-based centralized exchange platform launched in 2020 where users can buy, sell, store, stake, and check the current price for all their crypto assets.

Bololex also emphasizes its exchange operates under rigorous security standards and supports versatile funding options to quickly transfer funds to their site.

What makes Bololex particularly unique from other crypto platforms, however, is its crypto games section where users can play to win crypto prizes. 

If you want to learn all about Bololex’s services and whether or not they’re right for you, stick around for this in-depth Bololex review.

Bololex Homepage

Bololex Exchange

The Bololex exchange supports hundreds of markets/crypto assets, including many of the top coins like BTC, ETH, and DOGE, but has a significant number of top-tier assets (SOL, LUNA, ADA, DOT, MATIC, and many more) missing.

Bololex Trading (Markets)

It’s very unusual to see a trading platform with as many markets as the Bololex exchange to be missing so many big-name cryptos, so make sure you double-check what they support on their exchange before signing up.

That said, the Bololex exchange has a beautifully designed trading interface similar to that of Exmo. With charts powered by TradingView, toggles for the order book, and well-placed order panels complete with both limit and market order options, it’s a very user-friendly design.

Bololex Trading (Exchange)

The Bololex exchange also has a convenient ‘Markets’ tab to check every asset’s current price and trade fast with a simple hyperlink.

The Bololex exchange also has very competitive trading fees, with maker and taker rates at 0.02%. This puts them well ahead of major competitors like Coinbase (0.50%) and only slightly behind others such as Binance (0.01%).

In summary, everything about the Bololex exchange interface is incredibly smooth and, aside from the absence of trade order types like stop orders, should please all the traders out there.

Bololex Crypto Games

As mentioned earlier, Bololex is very unique insofar as it offers ten different crypto games users can play to earn the BOLO token, the platform’s native utility token.

The games include things like Wheel of Fortune, bingo, a mini lotto, and just plain old dice rolling. If you like classic games like those and want a chance to earn some crypto, Bololex is definitely worth checking out.

Bololex Crypto Games

Bololex Bolo Gaming Pools

In addition to playing games, Bololex also allows you to invest in each individual game to share in the profit it generates through its BOLO Gaming Pools.

The Bolo Pools are quite user-friendly and very similar to traditional liquidity pools, where revenue is based on how much of the pool you hold.

All you have to do is choose the game you want to invest in, the amount you want to pool, and the deposit term duration (one to twelve months). 

Bololex Bolo Pool

Considering the games on which the pools are based are gambling games where the ‘house always wins,’ it is a great opportunity to share in an income stream that is more or less guaranteed.

Bololex Staking

The last important service to touch on that Bololex offers is earning interest through crypto staking.

At the moment, Bololex supports staking for ten different assets, though they are all very obscure tokens with which most people probably won’t be familiar (BOLO, MAR, BTP, AFN, BONUS, GBD, GTPLUS, GTFTA, NINJA, and GSK).

The returns on your staked assets range anywhere from 5% to 32%, with NINJA as a major 10,000% outlier (not sure what to make of that). Staking term durations are either 30, 60, 90, 180, or 360 days with returns increasing the longer the lock-up period.

Bololex Staking

Truthfully, Bololex’s staking isn’t that appealing in terms of both returns and supported assets when compared to other crypto exchanges like WhiteBit, Binance, or really any decentralized exchange, but it’s still worth checking out if you end up using their platform. 

Bololex Customer Support

If you are looking for more information or some assistance with using the Bololex exchange or their other services, they have a support center (FAQ section) you can easily search through to find some answers.

Bololex Customer Support FAQ

While Bololex’s support center is full of useful information and broken down into convenient sections/FAQs, the information is far from exhaustive and could certainly benefit from some added pictures and organization.  

Conclusion: Bololex Review 

After taking a deep dive into Bololex’s platform and services, we would say it’s a fairly average platform.

The Bololex exchange has tons of markets, a great interface, and is extremely easy to use, but many of the major crypto assets are missing, and there is no ability to place stop-loss or take-profit orders, meaning it won’t be ideal for most traders.

Bololex’s staking is also a bit underwhelming. While it’s great to see that they even have the option of staking, the tokens they support seem a little too random, and the returns aren’t all that attractive relative to other exchanges.

The real reason we would recommend using Bololex’s platform is for their crypto gaming, as they are extremely unique in that regard. Whether you find value in playing the games or want to earn from those who play, it’s a fun twist on crypto and potentially reason enough to make an account.

 All in all, Bololex won’t find itself at the top of your list if your primary considerations are trading or staking, but it will be worth your while if you are looking for something unique and fun through their crypto games.

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Austin DeNoce

Austin DeNoce is a writer, personal investor, and entrepreneur who is focused on trading and investing education for macro, crypto, equities, derivatives, and foreign exchange traders. He graduated from the University of California, Santa Barbara with a bachelor’s in philosophy and carries a deep passion for a first-principles approach to investing and education therein. Austin specializes in topics related to cryptocurrencies and blockchain technology.