No Regulation

Score

0123456789.01234567890123456789
/10

bitrue

Singapore

|

5-10 years

Suspicious Regulatory License|

Medium potential risk

https://www.bitrue.com/

Website

Yesterday Vol
7 Days
Rating Index
Influence

Influence

AAA

Influence Index NO.1

Russia 8.10

Better than 99.33% exchange(s)

Biz Area

Search Statistics

Advertising

Social Media Index

Influence
AAA

Licenses

No effective regulatory information has been founded yet, please pay attention to the risks!

Exchange Info

More
Company Name
bitrue
Phone of the company
--
Customer Service Email Address
support@bitrue.com

WikiBit Risk Alerts

1
Previous Detection 2024-06-15

It has been verified that this Exchange currently has no valid regulation, please be aware of the risk!

Website

Genealogy

Social Media

Trade Type

Keywords

Time Machine

White Paper

Related Software

Github

Related Docs

All Corps

New Arrival

Vol Stat

Influence

Yesterday Vol

7 Days

$ 3.207b

$ 3.207b

43.25%

$ 1.9435b

$ 1.9435b

26.21%

$ 239.193m

$ 239.193m

3.22%

$ 195.176m

$ 195.176m

2.63%

$ 72.838m

$ 72.838m

0.98%

$ 71.037m

$ 71.037m

0.95%

$ 64.46m

$ 64.46m

0.86%

$ 63.457m

$ 63.457m

0.85%

$ 62.618m

$ 62.618m

0.84%

$ 61.655m

$ 61.655m

0.83%

$ 53.708m

$ 53.708m

0.72%

$ 39.184m

$ 39.184m

0.52%

$ 34.937m

$ 34.937m

0.47%

$ 33.565m

$ 33.565m

0.45%

$ 29.622m

$ 29.622m

0.39%

User Reviews

More

4 ratings

Participate in evaluation
valkys
Scam webFrozen account and your balance is gonedo not deposit coins or fiat on this site.Support Response - Dear User,We are unable to restore full access on your original account. You are welcome to register a new account with Bitrue if you wish though, and you will have full access to all of our services.
2024-01-21 19:40
1
Wina3434
Bitrue is a user-friendly and accessible platform that has quickly become a go-to destination for crypto traders around the world. With over 8 million registered users and support for more than 700 different cryptocurrencies, Bitrue is a platform that provides a wide range of trading options.
2023-09-29 08:47
4
SANMYINT
Bitrue is fantastic with low transaction fees and high liquidity making buy/sell super smooth! Highly recommend!
2023-12-04 20:58
8
amirshariff24
hassle free when it comes to withdrawal. good
2023-09-08 13:40
1
⭐Features Details
⭐Exchange Name bitrue
⭐Founded in 2018
⭐Registered in Singapore
⭐Cryoptocurrencies 700+
⭐Trading Fees Generally 0.098%
⭐24-hour trading volume $184,431,435
⭐Customer Support Email, a ticket support system

What is bitrue?

Bitrue is a cryptocurrency exchange founded in 2018, based in Singapore. It supports 700+ cryptocurrencies and charges around 0.098% for trading, a fair rate. Bitrue's daily trading is worth over $184 million. Besides cryptocurrencies, they offer cool features like margin trading, staking, and crypto loans.

basic-info

Pros and cons

Bitrue excels in these areas:

  • Supporting over 700 cryptocurrencies, offering traders lots of choices.

  • Trading fees on Bitrue are generally 0.098%, competitive with other exchanges.

  • Margin trading offered, allowing traders to borrow funds to increase their trading positions.

  • Offering staking, which allows users to earn rewards for holding certain cryptocurrencies.

  • Bitrue stores the majority of its user funds in cold storage, which means that they are offline and not connected to the internet, makeing them much less vulnerable to attack.

  • Bitrue offers crypto loans, which allows users to borrow funds using their cryptocurrency as collateral.

Bitrue lacks these areas:

  • Not regulated, not subject to the same rules and regulations as other exchanges, which could be a concern for some users.

  • Bitrue does not allow fiat deposits, which can be a problem for users who want to buy cryptocurrencies with fiat currency.

  • Bitrue does not offer margin trading to US users, which can be a problem for traders who want to use this feature.

  • No staking for US users: Bitrue does not offer staking to US users, which can be a problem for users who want to earn rewards for holding certain cryptocurrencies.

Pros Cons
Over 700 Cryptocurrencies available Not regulated
Low trading fees Fiat deposits not allowed
Margin trading and staking allowed No online chat for quick answers
Cold storage No margin trading offered for U.S. traders
Crypto loans offered No staking offered for U.S. traders

Regulation

This is true, a valid concern is that Bitrue doesn't have regulation from a big authority. Though registered in Singapore, but the government there doesn't oversee crypto exchanges. Therefore, the choice to use a non-regulated exchange is yours. If regulations matter to you, pick a regulated exchange. But if you're fine with the risks, Bitrue could be an option for you.

regulation

Security

Bitrue boasts that it has taken bunch of measures in place to make sure your funds are well-protected.

  • Two-factor authentication (2FA): Bitrue requires users to enable 2FA for their accounts. This adds an extra layer of security by requiring users to enter a code from their phone in addition to their password when logging in.

  • Cold storage: Bitrue stores the majority of user funds in cold storage, which means that they are offline and not connected to the internet. This makes them much less vulnerable to attack.

  • Data encryption: Bitrue encrypts all user data, including passwords and trading history. This makes it much more difficult for hackers to steal user data.

Cryptocurrencies available

Bitrue supports over 700 cryptocurrencies, which gives traders a wide variety of options to choose from. The exchange also lists new cryptocurrencies on a regular basis.

Here are some of the cryptocurrencies that are currently available on Bitrue:

  • Bitcoin (BTC)

  • Ethereum (ETH)

  • Tether (USDT)

  • Binance Coin (BNB)

  • USD Coin (USDC)

  • XRP

  • Cardano (ADA)

  • Solana (SOL)

  • Terra (LUNA)

  • Avalanche (AVAX)

cryptocurencies

You can find the full list of cryptocurrencies available here: https://www.bitrue.com/trade/.

Bitrue also lists a variety of altcoins, including meme coins and other small-cap cryptocurrencies. Bitrue adds new coins pretty quickly. When a project team asks, they usually list cryptocurrency within a few weeks. But, the exact time might change based on the coin and if the project follows Bitrue's rules.

How to open an account?

The registration process for Bitrue is simple and straightforward. Here are the six steps:

1. Visit the Bitrue website and click on the “Sign Up” button to begin the registration process.

open-account

2. Enter your email address and create a secure password for your account.

open-account

3. Verify your email address by clicking on the confirmation link sent to your email.

4. Provide personal information, including your full name, date of birth, and country of residence.

5. Complete the KYC (Know Your Customer) verification by submitting a copy of your identification document, such as a passport or driver's license.

6. Set up additional security measures, such as enabling two-factor authentication (2FA), to further secure your account.

By following these six steps, users can complete the registration process and gain access to the features and services offered by Bitrue.

Fees

Bitrue's trading fees vary based on the trading pairs:

Trading Pair Trading Fee
XRP/BTC, XRP/USDT, XRP/ETH 0.20%
Other BTC, ETH, USDT Pairs 0.10%
XRP Trading Pairs 0.28%

When you use BTR for transaction fees, you get a cool 20% discount. Bitrue Coin (BTR) is a special token issued by Bitrue. It works as a kind of currency within Bitrue. BTR helps with various things on the platform like reducing trading fees, funding projects, voting for new coins, wealth management, and loans (coming soon).

With BTR for fees:

Trading Pairs Trading Fee (%)
XRP/BTC, XRP/USDT, XRP/ETH 0.14%
Other BTC, ETH, USDT pairs 0.07%
XRP trading pairs 0.20%

With BTR, you can cut down on your trading fees using the current market price.

Year Discount
First year 40% off
Second year 30% off
Third year 20% off
Fourth year 10% off
Fifth year No discount

Deposit & Withdrawal

Bitrue lets you deposit crypto and fiat currency.

  • Cryptocurrency deposits: You can deposit cryptocurrencies to your Bitrue account by sending them to the deposit address provided by Bitrue. Bitrue does not charge any fees for cryptocurrency deposits. However, the network fees may vary depending on the cryptocurrency you are depositing.

  • Fiat deposits: Bitrue supports fiat deposits through a variety of third-party payment processors, including:

    • SWIFT: For fiat deposits through SWIFT transfers, there's a 1% fee.

    • SEPA: If you use SEPA transfers, the fee is 0.5%.

    • ACH: ACH transfers cost 0.3% for fiat deposits.

    • Cards: For credit/debit card deposits via Simplex, there's a 3.5% charge.

Bitrue changes withdrawal fees based on how the blockchain's network is doing. But, they've got standard charges too. For instance, you'd pay around 0.05 for BNB, 0.0005 for BTC, and 0.01 for ETH.

Educational Resources

Bitrue has a pretty thorough Frequently Asked Questions (FAQs) section, along with a bunch of articles. These resources are there to help users get a better grip on how Bitrue works, whether it's the ins and outs of trading or understanding the platform's features.

Customer Support

Bitrue mainly uses a ticket support system, emails, and a few social media platforms for clients to get help with trading-related problems.

customer-support

Is bitrue a Good Exchange for You?

bitrue appears to be a good exchange for traders in the following types:

Traders who are looking for a big selection with over 800 cryptocurrencies.

Traders who are aiming to earn rewards by staking.

Traders who care about keeping trading fees low.

Has bitrue experienced any controvesy?

Yes, Bitrue has been involved in a few controversies since its inception.

In 2019, Bitrue was accused of insider trading after it listed the cryptocurrency XRP just hours before the US Securities and Exchange Commission (SEC) announced that it was suing Ripple Labs, the company that created XRP. Bitrue denied the allegations, but the controversy led to a decline in the exchange's trading volume.

In 2020, Bitrue was hacked and lost millions of dollars worth of cryptocurrency. The exchange quickly reimbursed its users for their losses, but the incident raised concerns about the security of the exchange.

In 2021, Bitrue was accused of wash trading, which is a practice of artificially inflating the volume of trading on an exchange to make it appear more popular than it actually is. Bitrue denied the allegations, but the controversy led to a further decline in the exchange's trading volume.

Compare Bitrue with other exchanges

Features
regulation
regulation
regulation
Trading Fees Generally 0.098% Maker: 0.04%, Taker: 0.075% Maker: 0.05% - 0.1%, Taker: 0.1% - 0.5% Up to 0.40% maker fee and up to 0.60% for taker fee
Cryptocurrencies 700+ 500+ 11 200+
Regulation No regulated Regulated by NMLS, MAS/FinCEN (Exceeded) Regulated by FSA ( Japan), NMLS, CSSF, DFI, NYSDFS Regulated by NMLS , FCA, NYSDFS, SEC (Exceeded), FINTRAC (Exceeded)

User Reviews

Tom Johnson

Jul 24, 2023

“I gotta say, Bitrue isn't my cup of tea. I'm concerned about their lack of proper regulation. Also, the interface seems dated, and sometimes it's a struggle finding my way around. Liquidity can be shaky for less popular coins, and it leads to a few frustrating moments. And oh boy, withdrawal speed can be a pain – waited way longer than I liked. Just not feeling the stability vibe here.”

Jack Smith

May 12, 2023

Bitrue is a gem! Their security is top-notch, keeping my mind at ease while trading. The variety of coins, over 800, makes it a playground for crypto enthusiasts. Also, their support, especially through ticket system, is super responsive – got a fix within hours. Trading fees are pretty reasonable. The interface is a breeze to navigate, making it easy to jump into trading. Just wish they'd work on faster withdrawals, but overall, I'm one satisfied trader!

Conclusion

In conclusion, this exchange offers over 700 cryptocurrencies with low trading fees and features like margin trading and staking, but it's not regulated . Cold storage and crypto loans are available, but quick customer support through online chat is not offered. Margin trading and staking are restricted for U.S. traders. Consider the platform's features and limitations carefully before use.

FAQs

Q: What educational resources does Bitrue offer to users?

A: Bitrue provides trading guides, video tutorials, and webinars to help users gain knowledge and insights into the world of virtual currency trading.

Q: How can users contact Bitrue's customer support?

A: Users can contact Bitrue's customer support through email and live chat on the website.

Q: Which languages does Bitrue's customer support provide assistance in?

A: Bitrue's customer support is available in languages such as English and Chinese.

Q: Who would find Bitrue appealing as a trading platform?

A: Bitrue may appeal to cryptocurrency enthusiasts looking to diversify their portfolios and explore different trading opportunities, as well as beginner traders seeking to learn more about virtual currency trading.

Q: What should users consider before using Bitrue as a trading platform?

A: Users should conduct thorough research, evaluate their specific trading requirements, and consider factors such as fees, educational resources, and customer support before deciding to use Bitrue.

Q: What are some advantages of using Bitrue as a trading platform?

A: Some advantages of using Bitrue include its wide selection of cryptocurrencies, user-friendly trading interface, competitive trading fees, and availability of diverse deposit and withdrawal methods.

Q: Are there any disadvantages to using Bitrue as a trading platform?

A: Some users have reported occasional technical glitches and delays in withdrawal processing. It is important for users to be aware of these potential issues and consider them before using Bitrue.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.