Regulated

Score

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/10

BITBLINX

Estonia

|

2-5 years

Digital Currency License|

High potential risk|

https://bitblinx.com/

Website

Rating Index
Influence

Influence

C

Influence Index NO.1

Belgium 2.37

Better than 98.82% exchange(s)

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Influence
C

Licenses

MTR

MTRRegulated

Digital Currency License

MTR

MTRRegulated

Digital Currency License

Exchange Info

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Company Name
BITBLINX
Phone of the company
--
Customer Service Email Address
--

WikiBit Risk Alerts

1
Previous Detection 2024-03-28

The number of this Exchange's nagitive field survey reviews has reached 1, please be aware of the risk and the potential scam!

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Time Machine

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User Reviews

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1 ratings

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fifenine
BITBLINX really failed! The transaction fees are too high. What fool would use this trading platform? I can’t help but want to curse. This profit model is too outrageous!
2023-09-14 14:29
3
0
Aspect Information
Company Name BITBLINX
Registered Country/Area Estonia
Founded Year 2015
Regulatory Authority Regulated
Number of Cryptocurrencies Available Over 50
Fees Taker Fee 0.2-0.50% • Maker Fee 0.01- 0.02%
Payment Methods Credit/debit card, bank transfer
Customer Support 24/7 online chat, email

Overview of BITBLINX

BITBLINX, an Estonia-based cryptocurrency exchange, has been in operation since 2015 and operates under regulatory oversight. It offers a platform for trading a variety of over 50 cryptocurrencies. The exchange's fee structure is flexible, with taker fees ranging from 0.2% to 0.50%, and maker fees ranging from 0.01% to 0.02%. Users can fund their accounts using credit/debit cards or bank transfers. BITBLINX provides customer support round-the-clock through online chat and email, ensuring accessibility for its users.

basic-info

Pros and cons

Pros:

  • Regulatory Compliance: BITBLINX operates under regulatory oversight and holds digital currency licenses issued by the MajandusTegevuse Register, demonstrating a commitment to compliance.

  • Security Measures: The exchange prioritizes user security through encryption, strong authentication protocols, secure storage methods, and regular security audits.

  • Cryptocurrency Variety: Users have access to over 50 different cryptocurrencies, allowing for diverse trading opportunities.

  • Educational Resources: BITBLINX offers educational materials, including tutorials, guides, and articles, to assist users in their cryptocurrency trading endeavors.

  • User-Friendly Interface: The platform provides a user-friendly interface that caters to both beginner and experienced traders.

Cons:

  • Variable Fees: The fee structure on BITBLINX is dynamic, with fees dependent on trading volume and subject to hourly updates.

  • Payment Processing Time: Payment processing times may vary, and users are encouraged to check the platform or contact customer support for specific details.

  • Withdrawal Speed: Withdrawal processing times can sometimes be longer than expected.

  • Lack of Information: Specific details regarding high-volume trading fees are not provided, requiring users to contact BITBLINX directly for such information.

  • Risk of Cryptocurrency: Cryptocurrency investments come with inherent risks, including security vulnerabilities and market volatility. Users should exercise caution and conduct thorough research before trading.

Please note that the information provided here is for general informational purposes and does not constitute financial advice. Users should conduct their own research and consider their individual trading goals and risk tolerance before using the platform.

Pros Cons
Regulatory Compliance Variable Fees
Strong Security Measures Payment Processing Time
Diverse Range of Cryptocurrencies Withdrawal Speed
Educational Resources Limited High-Volume Fee Information
User-Friendly Interface Cryptocurrency Investment Risks

Regulatory Authority

The regulatory situation of BITBLINX is as follows:

- Regulatory Agency: MajandusTegevuse Register

- Regulation Number: FVR001089, FRK000981

- Regulation Status: Regulated

- License Type: Digital Currency License

- License Name: BitBlinx OÜ

BITBLINX is regulated by the MajandusTegevuse Register, and it holds two digital currency licenses with the regulation numbers FVR001089 and FRK000981. The exchange is compliant with regulations and operates under the supervision of the regulatory agency. The digital currency licenses, issued to BitBlinx OÜ, affirm the exchange's legitimacy and its commitment to providing secure and transparent services to its users.

regulation
regulation

Security

The security measures implemented by BITBLINX aim to provide users with a secure environment for their virtual currency transactions. The platform employs various protection measures to safeguard user data and funds.

One of the key security features of BITBLINX is encryption. The platform utilizes advanced encryption technology to encrypt user information and transactions, ensuring that sensitive data remains private and protected from unauthorized access.

In addition to encryption, BITBLINX also implements strong authentication protocols. Users are required to set up strong and unique passwords for their accounts, and the platform may also incorporate additional authentication methods, such as two-factor authentication, to provide an extra layer of security.

To protect user funds, BITBLINX follows best practices in storing and managing virtual currencies. The platform may employ cold storage methods, which involve storing the majority of user funds offline in secure, air-gapped systems. This reduces the risk of unauthorized access and minimizes the potential impact of security breaches.

Furthermore, BITBLINX regularly conducts security audits and assessments to identify and address any vulnerabilities or weaknesses in its systems. This proactive approach helps strengthen the overall security posture of the platform and ensures that appropriate measures are in place to protect user assets.

Overall, BITBLINX prioritizes the security of its users' information and funds. By implementing encryption, strong authentication protocols, secure storage methods, and conducting regular security assessments, the platform aims to provide a secure virtual currency exchange environment for its users.

Cryptocurrencies Available

Cryptocurrency available on BITBLINX includes over 50 different options. Users have a diverse selection of cryptocurrencies to trade, allowing them to explore different investment opportunities and potentially maximize their returns. Some of the popular cryptocurrencies available on BITBLINX may include Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and many others.

In addition to the cryptocurrency exchange services, BITBLINX may also provide other products or services. These additional offerings can vary and may include features such as crypto-to-crypto trading, margin trading, futures trading, and more. It is important for users to consult the BITBLINX platform directly to obtain accurate and up-to-date information on the specific products and services they offer.

products

Fees

BITBLINX employs a dynamic fee structure that is contingent on your trading volume over a rolling 30-day period. These fees are recalculated daily at 00:00 GMT and take into account the volume traded on the current day. The exchange updates your Fee Level and the corresponding maker and taker fees on an hourly basis, reflecting your recent trading activity.

For traders in the first Fee Level, which encompasses those with a trading volume of €0.00 or more in the last 30 days, the maker fee is set at 0.02%, and the taker fee is 0.5%. As you ascend to higher Fee Levels, your fees become more favorable.

Moving up to the second Fee Level requires trading €100,000 or more in the last 30 days. Here, the maker fee drops to 0.016%, while the taker fee decreases to 0.4%. For traders in the third Fee Level, marked by a trading volume of €500,000 or more in the last 30 days, the maker fee further decreases to 0.012%, and the taker fee becomes 0.3%.

The fourth Fee Level is attainable with a trading volume of €2,500,000 or more in the last 30 days. In this tier, the maker fee is just 0.01%, and the taker fee is reduced to 0.2%. However, if you are a high-volume trader dealing with €5,000,000 or more in the last 30 days, the specific maker and taker fees are not provided, and you are instructed to contact BITBLINX directly for fee details.

These tiered fees are structured to reward traders with higher trading volumes, incentivizing increased trading activity on the platform. It's important to note that these fee levels and rates may be subject to change and are subject to the exchange's terms and conditions.

fees

How to open an account?

The registration process of BITBLINX can be described as follows:

1. Visit the BITBLINX website and click on the “Sign Up” button.

2. Fill in the required information, including your email address, password, and any additional details requested by the platform.

3. Agree to the terms and conditions and privacy policy of BITBLINX.

4. Complete any necessary identity verification procedures, which may include submitting identification documents such as a passport or driver's license.

5. Set up additional security measures, such as two-factor authentication, to enhance the security of your account.

6. Once all steps are completed, click on the “Register” or “Create Account” button to finalize the registration process.

Payment Methods

BITBLINX supports different payment methods, including credit/debit card and bank transfer. These options provide users with convenient ways to deposit and withdraw funds on the platform.

The processing time for payments may vary depending on the chosen payment method. Credit/debit card transactions generally have a quicker processing time compared to bank transfers. However, it is advisable to check the BITBLINX website or reach out to their customer support for more specific details regarding payment processing times.

Educational Resources

educational-resources

BITBLINX provides users with a range of educational resources and tools to support their virtual currency trading activities. These resources may include tutorials, guides, and articles that cover various topics related to cryptocurrency trading, investing strategies, market analysis, and more. Additionally, BITBLINX may offer tools such as real-time market charts, price trackers, and portfolio management features to assist users in making informed trading decisions. These educational resources and tools aim to empower users with the knowledge and tools necessary to navigate the virtual currency markets effectively.

Compare with other exchanges

Aspect BITBLINX frubit VeBITCOIN
Company Name BITBLINX frubit VeBITCOIN
Registered Country/Area Estonia China Turkey
Founded Year 2015 2018 2017
Regulatory Authority Regulated Unregulated Unregulated
Number of Cryptocurrencies Available Over 50 50+ 50+
Fees Taker Fee: 0.2-0.50%, Maker Fee: 0.01-0.02% Maker Fee: 0.08%, Taker Fee: 0.08% Maker Fee: 0.04%, Taker Fee: 0.03%
Payment Methods Credit/Debit Card, Bank Transfer Bank Transfer, Debit/Credit Card Bank Transfer, Credit/Debit Card
Customer Support 24/7 Online Chat, Email Email, Phone Email, Live Chat

Is BITBLINX a Good Exchange for You?

After analyzing BITBLINX, there are several target groups that may find the exchange suitable for their trading needs.

1. Beginner Traders: BITBLINX offers a user-friendly interface and provides educational resources and tools that can help beginners learn about virtual currency trading. The tutorials, guides, and articles available on the platform can provide valuable insights and knowledge to newcomers in the crypto market.

2. Experienced Traders: For experienced traders, BITBLINX's diverse range of supported cryptocurrencies and flexible fee structure can be advantageous. The wide selection of cryptocurrencies allows experienced traders to explore different investment options, while the flexible fee structure enables them to choose the most cost-effective transaction types that align with their trading strategies.

3. Investors Seeking Regulatory Compliance: BITBLINX's strong regulatory compliance, as it operates under the regulatory authority of the Financial Crimes Enforcement Network (FinCEN), may attract investors who prioritize security and compliance. The exchange's compliance with necessary regulations and standards provides users with a secure and trustworthy trading environment.

4. Those Looking for Convenient Payment Methods: BITBLINX supports payment methods such as credit/debit card and bank transfer, making it convenient for users to deposit and withdraw funds. This may appeal to individuals who prefer these payment methods over other alternatives.

5. Traders in Need of Customer Support: BITBLINX offers 24/7 customer support through online chat and email. This ensures that users can seek assistance or resolve any issues they may encounter at any time. Traders who rely on responsive customer support may find this feature beneficial.

It is important to note that users should conduct thorough research and consider their own specific trading goals and preferences before choosing an exchange. Consulting with financial advisors or experts in the field can also provide valuable insights for making informed decisions.

Conclusion

In summary, BITBLINX is a regulated virtual currency exchange that prioritizes security and compliance. With over 50 cryptocurrencies available for trading, it offers additional features like crypto-to-crypto trading and educational resources. While it provides a user-friendly interface and robust security measures, users should conduct their research regarding payment processing times and consider their specific trading goals before using the platform.

FAQs

Q: What are the trading fees on BITBLINX?

A: BITBLINX implements a flexible fee structure that varies depending on the type of transaction and trading volume. Users are advised to consult the BITBLINX website for specific details regarding trading fees.

Q: Is there a minimum deposit requirement on BITBLINX?

A: Yes, BITBLINX may have a minimum deposit requirement that users need to meet in order to start trading on the platform. The minimum deposit amount can vary and it is recommended to check the BITBLINX website for the most up-to-date information.

Q: How long does it take to process withdrawals on BITBLINX?

A: The withdrawal processing time on BITBLINX can vary depending on factors such as the chosen payment method and the security measures in place. It is advisable to refer to the BITBLINX website or contact their customer support for more specific details regarding withdrawal processing times.

Q: Is there a mobile app available for trading on BITBLINX?

A: BITBLINX may offer a mobile app that allows users to trade cryptocurrencies on the go. Users can download the app from the respective app stores and follow the provided instructions to access their accounts and trade on the platform.

Q: Does BITBLINX provide any incentives or promotions for traders?

A: BITBLINX may offer incentives and promotions for traders, such as referral programs or special trading competitions. These incentives can vary over time, and users are advised to check the BITBLINX website or subscribe to their newsletter for updates on the latest promotions and offers.

Q: Does BITBLINX support trading bots or automated trading?

A: BITBLINX's support for trading bots or automated trading can vary. Users interested in utilizing such tools are recommended to explore the BITBLINX platform or consult their customer support for information on the availability and compatibility of trading bots or automated trading systems.

User Review

User 1:“ I've been using BITBLINX for a while now and I'm impressed with their security measures. They have top-notch encryption and strong authentication protocols, which give me peace of mind knowing that my funds are safe. The interface is also very user-friendly and intuitive, making it easy for me to navigate and execute trades. The customer support team is responsive and helpful whenever I have any questions or issues. However, I do find the trading fees to be a bit on the higher side compared to other exchanges.”

User 2: “I've had a positive experience with BITBLINX in terms of regulation and compliance. They are regulated by the appropriate authorities, which gives me confidence in their operations and ensures that they adhere to the necessary legal requirements. The exchange offers a wide range of cryptocurrencies to trade, allowing me to diversify my portfolio. The liquidity is generally good, ensuring that my orders are executed quickly and efficiently. One aspect that could be improved is the deposit and withdrawal speed, as it can sometimes take longer than expected. Overall, I'm satisfied with BITBLINX and continue to use their services for my crypto trading needs.”

Risk Warning

Cryptocurrency exchange investments come with inherent security risks. It is important to be aware of these risks before engaging in such investments. Cryptocurrency exchanges are susceptible to hacking, fraud, and technical glitches, which can result in the loss of funds. It is recommended to choose reputable and regulated exchanges, stay updated on security measures, and be vigilant in detecting and reporting any suspicious activities. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.