What is Bitrue?
Bitrue is a Singapore-based cryptocurrency exchange founded in 2018. With a daily trade volume of $10B, it is the worldβs 6th largest platform for spot trading.
Bitrue aims to democratize access to blockchain and digital assets infrastructure by allowing users to invest, buy, and sell over 700 cryptocurrencies.
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To date, the platform has obtained full certification, passed penetration testing, implemented ongoing bug bounty programs, and demonstrated proof of funds.
Bitrue Features
- Wide variety of cryptocurrencies β supports over 700 cryptocurrencies, providing users with a broad range of options for investment and trading.
- Low trading fees β charges competitive fees for trading, with rates as low as 0.1%.
- High-yield savings β offers a range of investment products, including high-yield savings accounts and fixed-term deposits.
- Mobile app β available for both iOS and Android devices, providing convenient access to the platform's features.
- Security features β implements high-grade security measures, including two-factor authentication, cold storage, and regular security audits.
Bitrue Products
- Spot Trading β allows buying and selling cryptocurrencies in real time.
- Power Piggy β A passive income instrument that allows users to earn interest on their crypto holdings.
- Derivatives Trading β Trading with up to 5x leverage for certain cryptocurrencies.
- Bitrue Finance β Earn yields by providing liquidity or borrowing assets.
- Bitrue Loans β Cryptocurrency-backed loans.
- OTC Trading β Over-the-counter trading services for high-volume transactions.
- Staking β Users can stake a number of cryptocurrencies on the platform and earn rewards.
- Bitrue Blog β Bitrue provides educational resources through Bitrue Blog, offering materials and articles to help users learn more about cryptocurrency and trading.
BTR Token Details
Launched in 2019, $BTR is the native utility token of the Bitrue exchange.
BTR tokens can be used to pay trading fees on the Bitrue platform. When a user holds the tokens in their account, they can choose to have their trading fees deducted from their BTR balance instead of from their cryptocurrency holdings, which can help save on fees.
Holding BTR provides additional benefits on the Bitrue platform. Users who hold a certain amount of tokens can receive discounts on trading fees, and higher interest rates on savings accounts, as well as other investment products.
Finally, BTR can be used to participate in certain promotions and giveaways on the Bitrue platform.
Supported Cryptocurrencies
Bitrue supports a wide range of cryptocurrencies, including major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), XRP, Litecoin (LTC), Bitcoin Cash (BCH), and various altcoins and tokens.
As of April 2023, Bitrue supports over 700 cryptocurrencies in total, making it an exchange with one of the most diverse ranges of trading pairs available.
Some of the other cryptocurrencies supported on Bitrue include ADA, DOT, SOL, MATIC, GALA, SHIB, DOGE, and many more.
Bitrue also supports stablecoins like USDT, USDC, and BUSD.
Fees on Bitrue
Bitrue charges trading fees on all buy and sell orders placed on the platform.
Current trading fees:
Trading fees for maker and taker: 0.32% (currency pairs including XRP)
Trading fees for maker and taker: 0.098% (all other pairs)
In addition to trading fees, Bitrue charges withdrawal fees on certain cryptocurrencies. The withdrawal fees vary depending on the specific cryptocurrency being withdrawn.
Limits
The transaction limits on Bitrue vary depending on the verification level on your account, the specific cryptocurrency being traded, and the type of transaction being performed.
There are no deposit limits for cryptocurrencies on Bitrue.
For fiat deposits, the minimum deposit amount is $50, and the maximum deposit amount is $10,000 per transaction.
The withdrawal limits for cryptocurrencies vary depending on the specific cryptocurrency. You can find the withdrawal limits for each cryptocurrency listed on the Bitrue website.
For fiat withdrawals, the minimum withdrawal amount is $50, and the maximum withdrawal amount is $10,000 per transaction.
The trading limits on Bitrue are based on a user's account level and trading volume. The higher the account level and trading volume, the higher the trading limits. The maximum order size for a single trade on Bitrue is 100 BTC.
Opening a Bitrue Account
To start using Bitrue, go to the website and register using an email address. To fully activate your account, you must complete the KYC verification process. This usually involves providing required personal information and uploading a photo of your government-issued ID.
Follow the instructions provided on the Bitrue website to complete the KYC process. Once your account is fully verified, you can deposit funds and start trading on the Bitrue platform.
Customer Support
Bitrue provides customer support through several channels, including email, live chat, and social media. Bitrue also provides a comprehensive FAQ section on its website and offers educational resources through Bitrue Academy.
Users have reported positive experiences with Bitrue's customer support, citing fast response times and helpful representatives. Bitrue's customer support may not be available in all languages.
Is Bitrue Legit and Regulated?
Bitrue is a legitimate exchange that has operated for several years and gained a positive reputation among its users. It is not governed by any financial regulatory body at this time, but it has taken steps to comply with relevant laws and regulations in the countries where it operates.
Is Bitrue safe?
Bitrue has implemented security measures to help protect its user assets. Bitrue uses cold storage for the majority of its assets and conducts regular security audits to identify and address potential vulnerabilities. The exchange also offers two-factor authentication, anti-phishing measures, and other security features to help protect its users.
Overall, Bitrue has a security rating of A with a 97.4% security score, according to CER.live, meaning it is a reputable exchange with a strong focus on security.
Bitrue is the first cryptocurrency exchange to provide a fully transparent insurance fund policy with funds made public for auditing.
Pros & Cons
Pros:
β Wide variety of supported cryptocurrencies
β Low trading fees
β High-yield savings accounts and other investment products
β Margin trading with up to 5x leverage
β Bitrue Card, supporting crypto
β Bitrue Loans for borrowing against crypto
β OTC trading for high-volume transactions
β Awards through staking and Power Piggy
β Integration with TradingView so market data is available to millions worldwide
β Strong security measures, including cold storage and regular audits
β Educational resources provided through Bitrue Blog
β Mobile app available for convenient access
Cons:
β Limited fiat currency support
β Limited language support on the website
β Exchange is mostly centralized, which may not appeal to some users who prefer decentralized exchanges.
Summary
Bitrue is a well-established and reputable cryptocurrency exchange with a broad range of features and products. The platform offers a user-friendly interface, low fees, and a wide selection of cryptocurrencies to trade.
Now in its fifth year of operation, Bitrue shows no indication of slowing down, introducing copy trading services in March and complete integration with TradingView in January to make its market data available worldwide.
Bitrue has also demonstrated a commitment to security and regulatory compliance, with a strong security rating and multiple certifications and audits to ensure the safety of user funds.
One of the standout features of Bitrue is its investment and savings products, which offer users the ability to earn interest on their cryptocurrency holdings or invest in pre-screened crypto projects. These products provide additional opportunities for users to grow their cryptocurrency portfolio beyond simple trading.
Overall, the platform is a solid choice for anyone looking to buy, sell, or invest in cryptocurrencies.
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