US investors permitted
A trading cryptocurrency guide must provide reviews of all of the top crypto exchanges out there, so that you can find the best cryptocurrency exchange site for you. This review of B2BX consists of four parts: general information, fees, deposit methods and security.
B2BX is a coin exchange launched January 2018 that offers trading in all of the biggest cryptocurrencies. All of the major cryptocurrencies traded here have a matching trading pair with this exchange’s own token, the B2BX Token.
B2BX states on its website that they have “institutional grade liquidity for cryptocurrency trading”. This term can of course be defined differently among different people. An objectively verifiable fact, however, is that at the time of writing this review (29 September 2018), B2BX had the 76th highest trading volume during the most recent 24 hour period according to information from Coinmarketcap. The exchange’s trading volume during such period was approximately USD 8 million.
UPDATE: On the 4 December 2018, B2BX’s 24 hour trading volume was USD 35 million, more than four times the 24 hour trading volume it had in September 2018. On 4 December 2018, it was on place 48 in the list of exchanges sorted by 24 hour trading volume. The claim that it has “institutional grade liquidity for cryptocurrency trading” seems to become more true for every day that passes.
We want to raise a small warning flag due to the fact that we have not been able to find any information on this exchange’s country of origin. This is definitely something to look out for. Transparent and consumer-friendly exchanges generally provide more information on the company behind the exchange etc.
B2BX does not explicitly state that US-investors are prohibited from trading. This makes us believe that US-investors can trade here. If you have experienced anything to the contrary, please do let us know.
B2BX Trading fees
Every trade occurs between two parties: the maker, whose order exists on the order book prior to the trade, and the taker, who places the order that matches (or “takes”) the maker’s order.
B2BX charges different fees for takers and makers. For takers, their fees are 0.30%. Makers receive a 0.10% discount and thus have to pay 0.20%.
Both 0.30% for takers and 0.20% for makers are roughly in line with the global industry average. However, as we do not know which country B2BX comes from, we have no domestic counterparts to compare with.
B2BX Withdrawal fees
This trading venue charges a withdrawal fee amounting to 0.0005 BTC when you withdraw BTC. This fee is below the industry average (global industry average is currently 0.0008 BTC for BTC-withdrawals). Consequently, B2BX’s withdrawal fee level is consumer-friendly.
This trading venue does not accept any deposits of fiat currency. This means that new cryptocurrency investors (i.e., investors without any previous holdings of cryptocurrencies) can’t trade here. In order to purchase your first cryptocurrencies, you need a so called entry-level exchange, which is an exchange accepting deposits of fiat currency. Find one by using our Exchange Finder!
This trading platform’s security score is B-, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). Also this is very competitive, especially considering that a majority of the cryptocurrency exchanges in our Cryptocurrency Exchange List actually only receive an F in the Observatory-test.
Good work, B2BX!
There are only a few exchanges that – like the above exchange – receive Mozilla Observatory-scores of B or higher. The following list includes 10 such exchanges with very impressive security scores: