Strong points
We go back to 2018 to the creation of Bitrue, which is a crypto exchange linked to the rise of decentralized finance (DeFi). Bitrue is among the most accessible platforms of our time.
From Singapore, the platform hosts a thorough list of crypto for traders. You’ll have access to more than 250 listed tokens to exchange or spot trade. Getting started is relatively easy, which makes the platform a great choice for anyone taking a plunge into the world of crypto.
In this Bitrue review, we look at your investment options and how safe Bitrue is.
In offering hundreds of cryptocurrencies to exchange or trade, it goes without saying that the Bitrue exchange is one of the main players in the crypto market.
This is the case of Bitrue which, thanks to over 700 assets listed, is an exchange with the one of largest choices around. The platform is also secure. It routinely offers the most popular cryptocurrencies, including Bitcoin (BTC), Tron (TRX), Ethereum (ETH) and Ripple (XRP).
You will find altcoins, stablecoins and ERC20 tokens, which are on the rise for the coming years. Even more, its asset list contains tokens such as Sologenic and NMKR. Like most exchanges, Bitrue offers its own native token, which is Bitrue Coin (BTR).
Bitrue
Bitrue
Here’s a look at the various features we found through our Bitrue review:
As mentioned in the introduction, trading is the main service of Bitrue and what keeps the platform liquid. With the option of trading hundreds of cryptocurrencies, Bitrue is known to crypto traders. Its top trading pairs have Bitcoin, Ethereum and BTR linked to them.
Bitrue is a fast, safe and secure site. With instant transactions, the platform is easy to use.
Staking has become common, and Bitrue offers it too. You can stake different tokens and earn rewards by doing so. Just keep in mind that staking is not a guarantee toward success. Though the interest paid is sure, the crypto you lock in staking may depreciate.
As with a traditional bank or a centralized platform, you can use Bitrue as a borrowing service. Bitrue offers cryptocurrency loans for users who want to borrow funds and trade them.
Though risky, margin trading is increasingly popular among crypto traders. Thus, crypto platforms include it among their flagship services, and it’s also an option at the Bitrue exchange. For margin trading, the Bitrue app lets you borrow funds for your trades.
For many investors, margin increases the size of their profits. With it, a small fluctuation in Bitcoin can result in a 5% growth in your capital. Just keep in mind that margin trading is risky.
Bitrue has a cryptocurrency investment feature where, through it, you can invest into a portfolio of cryptocurrencies. The portfolio options are for a particular currency or for several. Diversity is the main objective, and though it has expanded to other functions, it remains highly popular.
In March of 2023, Bitrue activated its copy-trading services, which attracted more novice traders to the platform. To be clear, copy trading is how you copy the positions of more experienced investors on the platform. Thus, beginners can follow and imitate profitable investors by benefiting from their experience, being directly processed in their own accounts.
Bitrue
Bitrue
Bitrue shakes up the commission hierarchy by uniquely structuring its fees.
For classic trading and exchanging, fees vary depending on the pair being traded and, naturally, the trading volume you buy. For each pair, including the native BTR token, fees never exceed 0.22% while for other currencies, they vary between 0.1% and 0.25% for each transaction.
There are no fees when you deposit cryptocurrencies, but you are charged whenever you want to withdraw your holdings. Depending on which, the rate changes with volume, but once again, it remains in the low range for fees overall. There are no staking fees in our Bitrue review.
All fees are subject to modification, and it is, therefore, important to check transactions for the percentages Bitrue takes, having reserved the right to alter fees at will.
Bitrue has a mobile application for iOS and Android. On both stores, the opinions are good and exceed scores of 4 stars respectively. The Bitrue exchange has pulled out all the stops to enable investors to access their accounts and services from a smartphone or tablet.
Navigation is intuitive, and the user experience is a great success on the Bitrue application. For investors using the platform, the price data it provides is reliable, and a multitude of traders can access charts and then engage directly from their smartphones. While mobile, you can carry out transactions, access your wallet, view price charts or manage your account.
However, not all of its website features are accessible on the Bitrue mobile app. Bitrue is best via its application, which continues to develop. Soon, more features are to be adapted to the platform. In the meantime, it’s not possible to perform the following on mobile:
Currently, it’s difficult to say if Bitrue can adapt the features of its website to its app. The application remains on par and adapts when you want to monitor, analyze or do simple tasks.
Bitrue
Bitrue
Bitrue has several account types with different statuses. Its central account is the classic user account. A basic account allows you to access Bitrue services and its loyalty system.
You have the option of a professional account known as the “VIP,” which is intended for investors with very high trading volumes. Companies also get top services and features.
There is a merchant option, which is for businesses that use crypto payments.
Bitrue
Bitrue
The question, “Is Bitrue safe,” is essential to ask. Regarding Bitrue, a major security breach tarnished its image in 2019, but it’s important to note that it does its best to protect its investors.
Today, crypto exchanges employ measures to reassure investors and secure the transactions they carry out. Bitrue complies with several security regulations for these reasons.
The exchange hosts two-factor authentication (2FA). Portfolio security is extremely important, and it should be noted that accounts get automatically blocked when a breach is suspected.
Its current security measures were established after the security breach it experienced in 2019 along with other platforms. During those attacks, nearly $4 million in crypto were stolen, and, naturally, Bitrue suffered the full brunt of it both financially and in terms of its reputation.
Keep in mind, however, that investors did not lose money because Bitrue covered the losses. Today, Bitrue has an insurance fund of 38 million in XRP tokens and 40 million BTR to hedge any breaches. However, the exchange hasn’t provided proof of such reserves yet.
It’s a big risk to trust a crypto platform that’s not regulated. Public comments regarding Bitrue’s security have led to a palpable reluctance, for some of its withdrawal requests have reportedly been delayed. The company made public statements at the time and has resolved these issues.
Being based in Singapore, however, Bitrue lacks traditional clarity from the legal and regulatory standpoint. The company’s website offers little transparency, and this absence of key information may call into question the credibility of the exchange.
Bitrue does discuss the global presence of its company, having offices in the American, European and Asian continents. However, there’s no legal data about the agency.
Web reviews confirm that the platform is registered and licensed with financial authorities in Singapore, the United States and Europe. However, there’s a lack of clarity on the subject. In addition, trustworthy agencies WILL publish their licenses, which isn’t the case here.
Here are the steps and procedures to take when using Bitrue to buy or sell crypto:
To open an account on Bitrue, you need an email address, an active verification code and password. Be sure to use a unique and complex password. You must also accept the conditions of use, which we recommend reading in entirety.
Here are the core steps you can take to if you want to ensure that Bitrue is safe:
To make account changes, Bitrue requires you to confirm with a valid code via email. The exchange may, from time to time, ask you to confirm certain actions or to authenticate yourself.
Today, you can deposit in fiat currencies, which include USD, EUR, GBP, HKD, SGD, AUD, CHF or MXN via credit card. There is no minimum deposit required. Deposits can also be made in crypto, but this requires that you do so through an existing-crypto wallet.
Keep in mind, however, that you’re charged a 3.5% fee for deposits made by credit card.
To purchase assets, you must go to the purchase/sale tab of the site or the mobile application. You can then select the crypto of your choice and use the payment method you want.
Bitrue
Bitrue
In our opinion, it’s necessary to advise investors on whether or not Bitrue is for them. Based on a breadth of services, this Bitrue review should prove suitable for intermediates AND experts.
Diversifying is possible but can trouble newbies when it comes to crypto. For the latter, Bitrue may, therefore, seem complex to understand, but it is, however, entirely possible to adjust to. Overall, the platform is aimed at investors who know crypto.
However, customer service is generally seen as inadequate. Users might end up with unanswered questions, so it’s best to know about crypto beforehand.
Bitrue has a number of ways to reach its customer service, and these include:
You also have access to a FAQ section and several tutorials to answer questions beginners have. Although the contact routes are diverse, they aren’t ideal according to some users. Some of your requests may go unanswered. A lack of response sums up the negatives of Bitrue.
We conclude this Bitrue review with a mix of positive points that contrast with negative views. The platform can improve, and Bitrue could rise to the top. You’ll find solid services and loads of tokens. The Bitrue exchange boasts of having some of the lowest fees on the market.
Bitrue
Bitrue
On the downside, its security breach of 2019, along with it not being completely transparent, should raise some reasonable concerns. Its customer service has to be improved, but the exchange offers those expert traders a diverse platform and service options.
