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 is regulated by the Estonian cryptocurrency exchange license. As you surely know, the Baltic region consists of three countries: Estonia, Latvia and Lithuania. Considering this, it might seem odd that out of these three countries, only Estonia is the home of any cryptocurrency exchanges. And not only one or two either. BTCBear, Jubiter, LATOKEN, Crex24, Kriptomat, Escodex, Elegro and P2PB2B are all also registered in Estonia.
The only explanation for this however is that Estonia have a license you can obtain in order to conduct cryptocurrency exchange operations as an Estonian company. To our knowledge, there are only two other countries in Europe that have a clear specific legislation on this like Estonia has: Malta and Gibraltar.
B2BX lists the following eight factors as the primary reasons to creating an account at the platform: security and 2FA, 9 different order types, advanced API, instant deposits and withdrawals, KYC, instutional grade liquidity, loyalty program and low trading fees.
Institutional grade liquidity?
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. Later on, on 8 June 2019, the 24 hour tarading volume was down on USD 9 million again. So we think it’s fair to say that the liquidity shifts substantially from month to month at this exchange.
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 View
Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you. The below is a picture of the trading view at B2BX:
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. The global industry average is arguably around 0.25%.
Also, if you pay the trading fees with the B2BX-token, you receive a 35% discount.
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: