Trade by Trade Review | Crypto Exchange
About Trade By Trade
Trade By Trade is an exchange which offers only crypto trading, while it also provides the option of margin trading.
The platform has quite a wide listing, supporting over 60 digital coins and tokens, including Bitcoin, Litecoin, Dash, Zcash, Monero, and DigiByte. It appears that Trade By Trade focuses on listing mainly coins that have a small market and pairing them against Bitcoin.
Security wise, Trade By Trade also implements a two-factor mechanism which ensures user account protection. In order to trade, no ID verification is necessary, but those that want to increase their daily withdrawal limits have to submit the required documentation.
The exchange claims it stores the bulk of user funds in cold storage.
Trade By Trade Advantages
Trade By Trade charges the same flat fee for both the market makers and takers, which is 0.2% for each transaction. The fees are like those offered by the rest of the industry, but most exchanges only incur fees for takers, which means that if you are a market maker there are more advantageous options for you on other platforms.
Margin trading available
As margin trading is available this means that you can borrow funds from the exchange to leverage your investment. Although you can gain more profit, you can also lose even more. This feature incurs a daily fee of 0.5%.
Many altcoins available
The platform lists a variety of altcoins in addition to some of the most popular cryptos such as Bitcoin, Litecoin, and Dash.
Trade By Trade has a web interface with an overall aesthetic design. Among the available features are: trading history, an order book, trading suggestions, and advanced charting offered by TradingView. A number of order types are also offered, including Multiple Buy/ Sell orders and Conditional buy.
Trade By Trade Disadvantages
No fiat currency options
Trade By Trade does not feature any options for depositing or cashing out in fiat currencies. This means that new traders first have to buy crypto from another exchange in order to be able to trade here. The same process would apply if you want to convert your cryptocurrency into fiat. It can be quite a hassle to switch between exchange accounts, especially for newbie traders.
High withdrawal fees
Even though deposits are free from any charges, users have to pay withdrawal fees, which is set at 0.001 of the crypto you want to trade with.
No company information available
According to its website, Trade By Trade is owned by Trade By Trade Ltd., which is a Vanuatu IBC that is based in Belize. Vanuatu and Belize are hotspots for companies that want to register offshore and bypass regulations and laws.
Low trading volumes
Many trading volumes of the pairs available on the platform have low volumes.
No Ethereum and Ripple
Ethereum is one of the most well-known and used crypto in the space, and has been second to Bitcoin for a very long time. Not having it listed also means that you cannot convert your other altcoins into ETH or vice versa. Ripple is also a top three cryptocurrency which is not featured on the exchange.
Trade By Trade is a crypto exchange that deals with coins of small volumes. It has a large number of crypto trading options, counting 60 cryptocurrencies, and also has available margin trading.
The issue would be that no fiat funding is possible and that there is almost no information regarding the exchange and its operation. Even though the market is teeming with crypto-exchanges that are unlicensed, a wide majority of them make publically available information about their company.
Image Source: tradebytrade.com