Bleutrade Exchange Review & Guide
What is Bleutrade?
Bleutrade is an exchange platform which deals exclusively with cryptos. The company was established in 2014 and it is apparently based in Brazil. The platform allows you to choose from a list of 50 cryptocurrencies and a plethora of currency pairs.
It is rather inconvenient as the company does not reveal much information about itself. The exchange states that clients from almost all countries can use their services.
The Central Bank of Brazil stated in 2014 that the cryptocurrencies are not a regulated asset. The bank’s governor Ilan Goldfajn stated that Bitcoin and other altcoins are considered a bubble or a pyramid scheme. He also mentioned that “the central bank is not interested in bubbles or illicit payments”.
Bleutrade supports a wide list of cryptocurrencies comprised of : Bitcoin (BTC), Bitcoin Cash (BCH), Dash (DASH), Bitcoin Gold (BTG), Dogecoin (DOGE), Litecoin (LTC), Audiocoin (ADC), Bata (BTA), Bean Cash (BITB), Bitcoin Dark (BTCD), BlackCoin (BLK), Canada eCoin (CDN), Decred (DCR), DigitalCoin (DGC), Digital Price (DP), Ethereum (ETH), Expanse (EXP), FujiCoin (FJC), Htmlcoin (HTML), Monacoin (MONA), Namecoin (NMC), Neoscoin (NEOS), NovaCoin (NVC), Peercoin (PPC), Potcoin (POT), Primecoin (XPM), Qtum (QTUM), Reddcoin (RDD), SolarCoin (SLR), VeriCoin (VRC), Vertcoin (VTC) and a few others. Unfortunately, for those interested in Ripple or Ethereum Classic, these options are not available.
Similar to most exchanges, Bleutrade features a web interface with basic trading tools, lacking additional charting and analysis, which are usually provided on platforms that are aimed at professional traders.
The platform displays buy and sell fields, an order book, market trade history and basic price charts for the coins.
Methods of payment
Bleutrade only deals with cryptocurrencies and there are no fiat currency options which are accepted. No transaction fees are charged for deposits which can be accepted in a very large number of cryptos. A number of confirmations is required to complete a trade for each coin.
Bleutrade charges a fee ranging from 0.2% to 0.5% which applies to each trade. As we mentioned above, depositing funds do not incur any fees, but a fee is applied when you want to withdraw funds. This fee depends on the coin you withdraw or trade with.
From various user reports, it has been revealed that trading operations on Bleutrade are effectuated at a slow pace and the liquidity is also very low. One particular user described the experience as being “terrible” due to there being “so many bots that it’s hard/slow to enter and get out of a trade”.
Forum users also reported that the service often experiences downtime or that they have trouble logging in their accounts.
Bleutrade imposes a limit for its accounts based on its level of verification. The account level is set at zero by default, and the limit can be increased if further identification details are provided.
- Email verification: BRL$2,000
- Email verification and phone number: BRL$20,000
- Email verification, phone number and proof of ID: BRL$100,000
Bleutrade implements an email verification process before withdrawing anything and requires additional verification for accessing higher limits. The exchange also features the two-factor authentication option for user accounts which can be enabled to increase the security of their accounts.
In the website’s terms, it is claimed that all provided information upon account registration is “stored on servers or high security magnetic media”.
In order to get a Bleutrade account, all you have to do is provide a valid email address and put in a user name and password. To be able to withdraw from your account, your email address has to be verified, and you can submit your phone number and ID documentation to increase your limits.
Should you have any problem with your account or your trading operations, Bleutrade enables you to contact its support team by sending a support ticket from its website platform.
There is also a section which features a limited number of frequently asked questions along with their answers.
Bleutrade started out as a crypto exchange with good references, but over time, the number of negative experiences from users has increased. While the platform does list a large number of pairs and coins, it does lack many trading tools when compared to other popular exchanges.
Image Source: Bleutrade.com