Bitrue Exchange Review | Benefits, Downsides And Trading Fees
Jack Moreau
Feb 2024
8 min read
Fact checked
Introduction: Looking for a reliable cryptocurrency exchange? There are countless exchanges out there and knowing which one is best to use can be tricky. Our comprehensive review of Bitrue Exchange covers information about its products and features, trading fees, deposit and withdrawal options and much more. Read our unbiased exchange review of Bitrue and decide if it's the right exchange for you!
If you're looking for a user-friendly platform to buy, sell, and store digital currency, look no further than Bitrue.
Bitrue exchange
Founded in 2018 by Curis Wang and headquartered in Singapore, Bitrue has quickly become a go-to destination for cryptocurrency enthusiasts around the world.
With over four million registered users and support for more than 700 different cryptocurrencies, Bitrue is a platform that has much to offer.
The platform is available in over 80 countries with restrictions in place in locations like Texas, New York, China, and OFAC countries being off-limits.
Whether you're interested in buying, selling, transferring, or storing Bitcoin, Ethereum, Ripple, Decentraland, or any of the other 700 cryptocurrencies available, Bitrue has you covered.
The exchange also offers spot, futures, ETFs, and earn products to give users a variety of ways to get involved in the crypto space.
Bitrue app
If you're a cryptocurrency trader who likes to keep tabs on your investments while on the move, the Bitrue app is a great option. A
vailable on both Android and iOS devices, the app provides a smooth and user-friendly interface for buying, selling, and trading digital assets.
With over 500,000 downloads and an impressive 4.8-star rating based on 5,000 reviews, the Bitrue app is a popular choice for cryptocurrency enthusiasts.
Bittrue KYC Requirements
Bittrue is a cryptocurrency exchange that allows users to buy and sell cryptocurrencies without requiring KYC verification.
However, users who want to buy crypto or deposit fiat currencies on the platform must go through KYC.
The signup process on Bittrue is quick and easy, taking only 30 seconds for users to register and begin trading cryptocurrencies.
Bitrue KYC process
The process for KYC verification takes a few minutes and involves submitting personal identification documents. Once the verification process is complete, users can access additional features such as increased withdrawal limits.
Bittrue Crypto Products
Bittrue is a cryptocurrency exchange that offers a wide range of products and services for both new and experienced traders.
Bitrue spot trading
The platform provides spot trading, USDT and USDC futures, leverage ETFs, copy trading, lending and borrowing, staking, and a launchpad.
Bittrue also has a modern, clean, and easy-to-navigate user interface, making it a great choice for beginners.
One of the standout features of Bittrue is its high daily average spot trading volume, which is over $1 billion. This indicates that the exchange is highly liquid and can accommodate large trades with ease.
Bittrue also offers a maximum leverage of up to 50X on USDT perpetual futures, making it a great choice for traders who want to to try and maximize their potential profits.
In terms of user experience, Bittrue has done a great job creating an easy to navigate platform despite providing a lot of features. The platform is easy to navigate and users can deposit and trade cryptocurrencies right away after having signed up.
Staking on Bitrue
Bittrue also offers a range of additional products and services such as staking, earn products, trading bots, p2p trading, and proof of reserves.
Overall, Bittrue has a lot to offer both to newer and more experienced crypto investors and traders.
With its high daily average spot trading volume, modern interface, and range of products and services, Bittrue is definitely worth considering for anyone looking to trade cryptocurrencies.
Bittrue is a cryptocurrency exchange that offers over 700 different cryptocurrencies for spot trading.
The exchange also offers an easy way to buy cryptocurrency with a debit or credit card through its partnerships with Legend Trading, Simplex, and Trust Token.
Buy crypto with credit card on Bitrue
However, users should be aware that this service comes with a 3.5% transaction fee or a $10 minimum fee, whichever is higher.
Unfortunately, Bittrue does not currently offer fiat deposits via bank transfer or P2P trading so users must rely on funding their account with cryptocurrencies.
While Bittrue is a solid choice for those who are looking to buy and trade a wide range of cryptocurrencies, users who prefer to deposit fiat via bank transfer or engage in P2P trading have to look elsewhere.
For users who just want to deposit cryptocurrencies and begin trading on Bitrue, you can do that without any problems!
Bitrue has quickly made a name for itself in the industry thanks in part to its competitive spot trading fees.
The exchange charges a competitive spot maker and taker fee of just 0.098%. It's worth noting that Bitrue offers the same trading fees for both spot and futures trading, which is a slightly odd approach compared to other exchanges that differentiate between the two.
When it comes to spot trading fees, Bitrue is quite competitive with fees slightly lower than other popular exchanges like Binance and Bybit, that both offer a 0.1% spot trading fee. However, Bitrue's futures trading fees are higher compared to Bybit which charges a 0.01% maker fee and 0.06% taker fee.
Bittrue Deposit Methods
Bittrue exchange does not support the deposit of fiat currencies which means that the only way to fund your account is through crypto deposits or by buying crypto with a credit card.
However, it is important to note that buying crypto with a credit card on Bittrue incurs an expensive 3.5% fee or a flat fee of $10 which is quite expensive.
Although Bitrue doesn't support fiat deposits, it remains a preferred platform for traders because of its user-friendly interface and wide range of trading options.
A good option for those who want to avoid paying the high credit card commissions is to simply buy cryptocurrencies on other exchanges and transfer them to Bitrue to take advantage of its trading services.
Bittrue Withdrawal Fees?
While the platform does not support fiat withdrawals, users can still withdraw their cryptocurrencies through the platform with varying fees depending on the blockchain.
For instance, withdrawing Bitcoin from Bittrue comes with a high fee of 0.005 BTC, while ETH and USDT withdrawals incur fees of 0.01 ETH and $2.6 USDT, respectively.
Is Bittrue Safe?
When it comes to security, Bittrue takes several measures to ensure the safety of their users' funds. Deposited funds on Bittrue are moved to multisig cold storage, which is considered to be one of the most secure storage methods available.
In addition to this, the exchange offers basic features such as two-factor authentication, withdrawal and IP white lists, email safety codes, and an insurance fund containing 38 million XRP and 40 million BTR.
However, it's worth noting that Bittrue is not licensed by any known regulatory authority besides being registered in Singapore. Additionally, proof of reserves is not yet available on Bittrue.
In conclusion, Bitrue is a user-friendly and accessible platform that has quickly become a go-to destination for crypto traders around the world.
With over 8 million registered users and support for more than 700 different cryptocurrencies, Bitrue is a platform that provides a wide range of trading options.
Bitrue's low spot trading fees and diverse trading options make it a great choice for traders looking to save on fees and maximize their profits.
With its high daily average spot trading volume, modern interface, and range of products and services, Bitrue is definitely worth considering for anyone looking to trade cryptocurrencies.
However, it's important to note that Bitrue does have some limitations, such as restrictions in certain locations and its lack of support for fiat deposits and withdrawals.
It's also not licensed by any known regulatory authority besides being registered in Singapore.
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Author
Jack Moreau
Jack is a crypto writer and reviewer who has been active in the space since he caught the crypto bug in 2017. With a passion for trying out new shiny things, Jack is always eager to try the latest cryptocurrency exchanges, wallets or DeFi applications.
