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 Baobi (previously BTCTrade.im) consists of four parts: general information, fees, deposit methods and security.
Baobi (previously BTCTrade.im) is a Chinese cryptocurrency exchange. Baobi does not explicitly forbid US-investors from trading on its exchange. Regardless, all US-investors should do their own independent assessment of any problems arising from their residency or citizenship. In a worst-case scenario, they may not be able to trade at one or several exchanges that could be the best cryptocurrency exchange site for them (maybe including this one).
This exchange is not one of those “decentralized exchanges”. Decentralized exchanges do not require a third party to store your funds, instead, you are always directly in control of your coins and you conduct transactions directly with whoever wants to buy or sell your coins. However, regular top crypto exchanges as opposed to decentralized exchanges normally have an order book with better liquidity than the decentralized exchanges.
Just like the majority of all cryptocurrency exchanges, Baobi offers its trading platform as a mobile application as well. This is naturally very helpful for people that don’t have a desktop, or that do have one but for some reason prefers to do their trading on their mobile device(s) instead.
If you are an investor from China, USA, Iran, Crimea or Syria, you may not trade on this exchange. But, if you are from any of those countries and you want to find a cryptocurrency exchange like this one, use our Exchange Finder and we’ll help you out.
Baobi 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 Baobi:
Baobi Trading fees
Always check the trading fees! This exchange is one of the exchanges that don’t charge different fees between takers and makers. Usually, you say that such exchanges’ trading fees are “flat”. Baobi offers a flat trading fee of 0.25%. The exchange does accordingly not care about whether you are a taker or a maker. 0.25% is exactly in line with industry average. Industry average can namely be argued to be 0.25%.
Baobi Withdrawal fees
Baobi charges a withdrawal fee amounting to 0.001 BTC when withdrawing BTC. Also this is in line with industry average.
This cryptocurrency exchange does not accept any other deposit method than cryptocurrencies. Accordingly, the exchange is not directly available to new crypto investors. If you are a new crypto investor and you wish to start trading there, you will have to purchase cryptos from another exchange first and then deposit them at the exchange.
Baobi’s security score is F, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is below industry average when it comes to top crypto exchanges.
We hope you have enjoyed reading the above review. We also recommend checking out the following cryptocurrency exchanges. They are well established in the industry and have also received excellent ratings from the visitors on our site: