The exponential rise in crypto trading and the shift to digital assets has brought a new demographic of users to the various cryptocurrency trading platforms. Well, the new users who are beginners may find it cumbersome to navigate through multiple brands and search for the brands they are interested in. The more choices there are, the more things you need to consider when finding the right platform for you and your requirements. Security, simplicity, terms, rights, etc. are just some of the options to research before narrowing down to the company and platform of your choice. On the way to the major financial markets, a name pops up: Bitrue crypto exchange. And like any other advanced online platform, it needs a short and thorough Bitrue exchange review. So, let’s start with a quick look at this Singapore-based cryptocurrency platform.
Understand Bitrue crypto exchange
Bitrue is a crypto exchange and digital asset management platform. It is one of Ripple‘s recommended exchanges for crypto trading platforms and XRP trades. Bitrue is an all-in-one platform where users can use their Bitrue accounts to buy/sell, exchange, and deposit/withdraw crypto and blockchain-based digital assets. Bitrue is a one-stop trading platform and is known for its transaction speed.
The Bitrue crypto exchange is also one of the first exchanges to offer loans backed and secured by crypto and blockchain. This provides an unprecedented system for crypto enthusiasts. With its trust token on five continents, Bitrue instills trust and a sense of security in the people using this trading platform. Crypto exchanges have traditionally spread their functionalities across different apps, but Bitrue brings everything into one platform.
Is Bitrue crypto exchange Legit and Regulated?
Similar to most crypto exchanges, Bitrue claims to operate within the borders of its registered nation of Singapore. Although it remains operational and competitive with more than 4.2 million user accounts, the company’s website was breached. Security experts suggest that security needs to be improved.
The Bitrue crypto exchange allows individuals to trade across Europe, the United States, Japan, Canada, and a few more countries. One thing worth mentioning would be that even though the brand has a vast web of trust tokens, some of its unique or standout features might not be as regulated.
Key Features of Bitrue crypto exchange
It offers higher incentives compared to most of its competitors. Trading fees for various transactions are also among the lowest in the industry. It is also one of the first crypto exchanges to offer the crypto loan, with an APR of 15% percent being the expected interest rate. Allows users to earn interest on their cryptos through their service/product called Power Piggy.
The assets you monitor on most other exchanges can be leveraged to earn more by joining the Bitrue crypto exchange community. Undoubtedly, the recommendation of Ripple Labs (the team that created the XRP cryptocurrency) is a great starting point for beginners creating their Bitrue account. BTR lock option is also present for storing digital currency (however fiat currency vault is not supported).
Bitrue crypto exchange: pros and cons
- Multiple features included.
- Two-step registration process.
- Flat fee model with a low fee structure.
- Trust tokens are available in 160+ markets.
- Offers higher interest rates for investors.
- Tends to focus more on specific markets.
- The website may have security gaps.
- Fiat currency deposits are not supported.
- Security and protection are not guaranteed.
- Better alternatives offer more.
Bitrue registration process
It’s a welcoming experience as you begin with the best exchange for your specific needs. New users can log in/register with their email address and phone number.
The security of your Bitrue account is based on a two-step verification process aimed at protecting transaction history or other important information and control tools. The two main methods of depositing digital funds and investments are credit card deposits and other online money transfer methods.
Is your Bitrue account safe?
User safety and information confidentiality are top priorities for the brand. Bitrue crypto exchange also has a multi-signature cold wallet that you can use to increase the security of your assets. When it comes to security ratings, the third-party provider’s judgment is split. Some reviews make it a good recommendation, while others advise looking further.
However, some of the vulnerabilities in the system have been exploited in the past, although the exchange has stayed afloat and rallied due to its popularity and unique characteristics.
Has the Bitrue account been hacked in the past?
The brand is trying to increase its security standards after the 2019 incident when the bank was hacked, resulting in a loss of over $4 million. The exchange was temporarily down until affected accounts were suspended and authorities took action. Since the event, the exchange has pledged to review its policies and change security protocols.
Bitrue Mobile Application
The Bitrue crypto exchange, like most other exchanges, has a mobile application. The app is available for both Android phones and iOS devices in their respective mobile app stores. The Bitrue app allows you to have a reliable and close relationship with all your assets including your cold wallets and bitcoin cash.
Mobile apps can also exchange Bitcoin, USDT, XRP, Ethereum, Litecoin, and dozens of different altcoins according to the web-based features. As a platform with a very responsive and smooth user interface, one can also keep up to date with the latest news about their highly volatile digital assets.
Bitrue, like other exchanges, has an API for those who want to analyze the information their way. API stands for Application Programming Interface which can send any set of information between two devices.
How to buy and sell cryptocurrency on the Bitrue crypto exchange?
Each purchase transaction is a straightforward process. Users can buy either the website or the mobile app. Once you have logged into your Bitrue account, you can simply select the cryptocurrency you are in the market for. Bitrue crypto exchange supports various cryptocurrencies and other blockchain-based assets that you can buy from your account.
Users can buy cryptocurrency on Bitrue using their credit cards, and they’re guaranteed to be deposited into your wallet within an hour. The fee is 3.5% per transaction or $10, whichever is greater. In simpler terms, if you’re a high-volume trader, you’re probably paying 3.5%.
Similar to buying, selling is an intuitive process. In your app, you can select the ones you want to sell and initiate the transaction. The exchange rate can vary and it is recommended to check your trading pairs and crypto-assets. The XRP community is among the most popular when it comes to buying and selling on the Bitrue crypto exchange.
How to borrow bitcoin on Bitrue?
Bitrue crypto exchange offers a digital loan based on blockchain and secured by crypto. Interest rates can be assumed to be around 15%. You can borrow bitcoin on the platform and it will be reflected in your best crypto wallet. Think of this similar to a crypto-secured transfer and not your traditional bank (traditional transfers are not supported). You can check the most popular bitcoin loan sites here for more details.
Since digital lending is the crypto exchange’s premier service, it has various methods to make the transaction. With flexible payment methods and no delivery deadline, borrowing Bitcoin is a convenient and easy process.
The Bitrue crypto exchange offers various cryptocurrency trading features and has maintained extremely competitive trading fee structures. The fees for the most popular trading pairs (such as XRP/BTC, XPR/USDT, and XRP/ETH) are 0.2%, while other flexible payment methods including ETH and USDT trading pairs will charge a 0.098% fee. XRP trading fees vary based on the usage of BTR for transaction fees. In this case, the exchange offers significant discounts on trading fees. The withdrawal fee is below the global average. For example, the withdrawal fee for BTC is 0.0005 BTC and on the other hand, the withdrawal fee for DASH is 0.002 DASH. Fiat currency deposits will not support this platform. This is a decent figure compared to the global average.
Merchants can now transfer their desired amounts (in wide variety) without any problems with the business profits that high fees could hurt. It also offers the possibility to carry out any number of transactions between the respective currencies. The XRP withdrawals can be performed without any fees, which is another added benefit. This exchange does not charge different fees between manufacturers and buyers. Keep in mind that fees are constantly fluctuating throughout the market. To know the full fee structure, we highly recommend checking out the details on the official website.
BTR token details
BTR, the Bitrue Coin, is the native token of the Bitrue crypto exchange. This native token improvement is now based on the XRP blockchain ledger. Since XRP is highly scalable and efficient for payments, this can be an added benefit of the brand’s decision to move from ERC-20. Any type of payment on the exchange can be made using crypto coins, but BTR tends to be the most effective and optimal.
Bitrue Customer Service
To reach support, customers can contact the support team via email, Twitter, Telegram, or Facebook. The website has numerous automated pages and sections that help in solving functional problems to solve the basic problems. With a thorough help center, the site serves as a step-by-step guide to most of the features and options that customers might use. One thing to consider might be that due to the sheer volume of its users, clients have mentioned delayed responses from the team.
Bitrue crypto exchange Review: Conclusion
Bitrue crypto exchange is a renowned crypto exchange and offers an unprecedented set of features while fees are lower than most other exchanges. When checking off your crypto platform list, Bitrue would be one of your best bets. With its extra features like Power Piggy and cryptocurrency loans, you always have a few extra options should you ever need them in the future.
Can US customers use Bitrue crypto exchange?
The states of New York and Texas are the most prominent. If you are based in other regions that follow the rules, you can use Bitrue crypto exchange as a US customer.
How long do Bitrue deposits take?
The constant fluctuations in the network and blockchain make it unpredictable to have a fixed time to deposit. You can deposit by selecting your preferred coin and using either the address or the QR code to make the deposit.
Can I use Bitrue in my country?
Bitrue operates in over 80 countries and you can visit the website or mobile apps to check whether your local laws and regulations that can use Bitrue crypto exchange or not.
Is Bitrue a scam or legit?
Based in Singapore, Bitrue is one of the most trusted and widely used crypto exchanges. The platform continues to inspire trust and accountability for its millions of registered users. Bitrue crypto exchange has stood the test of time and is the platform of choice for a large consumer base.
Does Bitrue offer bonuses?
Bitrue crypto exchange offers different rewards and bonuses based on different criteria. Referring and inviting a new user brings referral bonuses. With each transaction, the original creator gets a percentage of the amount. Using BTR for certain features on the platform can also give you a bonus in terms of fee discounts.
Why Bitcoin cloud mining?
An unknown individual or group called Satoshi Nakamoto introduced the Bitcoin network to the world in 2009. In 2021, there are more than 10,000 different projects in the field of cryptocurrencies. So each of them has its role in building the future of money.
The market value of cryptocurrencies reached $ 1 trillion for the first time in January 2021. It passed $ 2.5 trillion less than three months later. So it shows that this market is one of the growing markets in the favor of its investors.
Bitcoin Cloud Mining is the process by which you participate in a mining pool to a cloud miner website and purchase a certain amount of hash power. In this pool, the profit will distribute equally among all participants who have participated in the mining pool. It will happen based on hash power. Also, the cloud mining platform allows you to mine your BTC without installing any hardware and at no extra cost. So Minerland, the best crypto cloud mining service to earn Bitcoin, helps you invest in Bitcoin easily and with low risk.