Bitrue Review – Exchange Features, Fees, and Security
Bitrue is a crypto exchange platform that joined the crypto space in 2018. Currently, it is one of the biggest exchange platforms operating worldwide. In addition, it was the first platform to list XRP tokens and is now the most popular platform for XRP traders. Let’s find more in this Bitrue review.
Table of Contents
Bitrue has its operations in countries all across the world. However, the platform is unavailable in several countries, including North Korea and China Mainland. This Bitrue review dives deep into the different features of this exchange platform and its security levels.
Bitrue Review – Introduction
The Bitrue exchange platform allows its users to purchase, sell, and trade to earn rewards on the supported cryptocurrencies. Currently, Bitrue hosts hundreds of cryptocurrencies, and therefore, a significant number of crypto enthusiasts are covered by this platform.
To understand the different opportunities that crypto users have on Bitrue, this Bitrue review examines and weighs these financial possibilities.
Bitrue Exchange Review – Features
Let’s see which are the main features of this exchange in this Bitrue review:
The Bitrue sign-up process is a relatively simple one. It has a very welcoming and straightforward user interface. New users can register their accounts using phone numbers or emails, but user email should be used for easy account management and password recovery.
The sign-up process will require the user to develop an effective and secure passphrase that will be required when accessing the account. Once these details have been filled in, the user will then have access to the exclusive features of the platform.
Like many other crypto exchange platforms, Bitrue has separate applications that can be installed on either Android or iOS devices. This application allows users to keep their platform operations close to them. Mobile applications have all the needed features that the website possesses.
Crypto enthusiasts can use the application to make various exchanges and other web-based functions. Their devices also act as an up-to-date gadget that updates Bitrue account owners on the activities around their digital assets.
Bitrue offers users an exquisite trading experience with its lucrative buy-and-sell options. Significantly, Bitrue users incur lower fees when making purchases through ACH transfers. However, much steeper fees are incurred on users who purchase using debit and credit cards.
In addition, they do have a third-party platform referred to as Simplex, which is used to ensure that credit card transactions are successful. To that end, a charge of 3.5% is incurred for every transaction done using the card.
Bitrue users can make deposits using the US dollar or cryptocurrencies supported by the platform directly to the exchange. In addition, they can buy and sell crypto trading pairs such as XRP/BTC with this feature. Apart from these standard features, the Bitrue platform also gives users the platform to analyze the markets.
This is done using advanced charting analysis tools, limit, stop-loss orders, and live order books. Those already experienced crypto traders can take on leveraged tokens and crypto futures. Keep reading this Bitrue exchange review to learn more.
Bitrue Exchange Review: Bitrue Fees
In this Bitrue review, we can say that the exchange offers very competitive fees for standard charges. Those who use the Bitrue coin to pay fees receive a 30% discount on all their costs. However, fees incurred during the purchase are steep, as credit and debit card users incur a 3.5% fee.
Users are expected to pay between 0.098% and 0.32% on all their trades regarding trading. Notably, fiat currencies are not supported on this platform. While these fee rates are bound to vary, the amount charged to those using the Bitrue platform is relatively fair compared to the averages exhibited on other platforms.
Bitrue Security: Is Bitrue Safe?
Bitrue, like any other crypto platform, takes its security very seriously. Bitrue offers both basic and advanced security measures. The most basic form of security is a passphrase required during logins. Each user should develop a unique passphrase that he/she can use to lock his/her accounts. Further security measures such as the two-factor authentication have also been availed to its users, which they can do either by SMS or through Google authenticator.
However, this is at the user’s disposal, and they may choose when to use it. Bitrue also allows its users to come up with a list of devices used to access the account (a safelist) while it blocks all others. We can say in this Bitrue review that safest is an important key for this exchange.
The logins to the user account are also preserved in the user email, and this gives account owners the chance to disable their accounts any time an unknown login is detected. Regarding crypto assets and balances, Bitrue keeps them safe in cold storage. This means that users’ assets are not connected to the internet and cannot readily be hacked and stolen.
It is, however, essential to note that there was a security breach in the past where hackers got away with $4 million worth of crypto funds. Even though Bitrue could cover all the losses, it shows that they must be keen to take all the needed steps to ensure that this scenario does not repeat itself in the future.
Is Bitrue Safe?
Many crypto enthusiasts are asking this question: Is Bitrue safe? Looking at the security features that have been initiated in this Bitrue review, it is clear that Bitrue is a safe crypto platform to interact with. It has taken the needed measures to ensure the security of its crypto user accounts and its crypto storage. According to the recommendations given in the past, Bitrue has taken the needed measures to make sure that they are well-protected.
Bitrue Review – Conclusion
Through this Bitrue review, we can say that this crypto platform has invested so much in ensuring a safe place for trading. This has made it a well-known platform, and it offers its users many opportunities. It is in top crypto exchanges together with Gate.io or Kraken.
The features offered by Bitrue give it a competitive advantage over other platforms. For instance, its lower fees are very accommodating to beginners and experts. Furthermore, with several additional features such as cryptocurrency loans and power piggy, users can always have options to trade in the future. However, it should be noted that while Bitrue operates in the US, it is highly limited by local laws. In the meantime, users can take advantage of the features to invest and trade. We hope that our Bitrue review helped you.
Images source: Bitrue.com