BCM Exchange Review
What is BCM Exchange?
BCM Exchange is an exchange registered in the Netherlands, with headquarters in Aalsmeer. It was previously named Bitladon but was rebranded in early February 2023.
BCM Exchange (previously Bitladon Exchange) is part of Coin Meester B.V., a company registered in The Netherlands, owned by Boyd Meuleman & Mitchell Zandwijken. It has been in operation since June 2017 and quickly gained popularity in the countries in which it operates, due to their fast EURO deposits and withdrawals. One of BCM Exchange’s other strengths is the number of supported cryptocurrencies. At the date of first writing this review (21 August 2019), that number was 191 different cryptos. Wow.
The support of this exchange is open between 09:00-17:00 (CET) on weekdays, but not during the weekend.
This exchange is not open to citizens or residents from the United States of America. If you are a resident or citizen of the US and you’re looking for the trading platform that is just right for you, don’t worry. Use our Exchange Finder to find an appropriate exchange accepting investors such as yourself.
Any to Any Function
At this exchange, you can also trade any cryptocurrency with any other cryptocurrency. The exchange describes it like a “built-in Changelly”. This function is quite unique and very helpful for most investors.
Interest on Stablecoins
BCM Exchange also offers interest on the stable coins you can trade at the platform. These stable coins include TrueUSD, Paxos Standard, Tether and Dai. The interest received is 3% yearly. The interest is paid daily and added to the user accounts. The only real requirement to receive interest is that you store the relevant stable coins at your BCM wallet. You don’t even have to have bought them at the BCM Exchange platform, you can send them to BCM Exchange from other places as well. This feature is very interesting and we applaud the idea!
BCM Exchange 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. At BCM Exchange, the purchase interface is quite simple. This makes it intuitive and easy to understand, while it might lack some features that more experienced traders require. The below is a picture of the purchase interface at BCM Exchange:
BCM Exchange Fees
BCM Exchange Trading fees
The fees at any exchange are very important to consider. BCM Exchange charges 2.00% per order as a starting point. This should be compared with the global industry averages for centralized exchanges across the world: 0.25%. These industry averages are even becoming lower, moving more towards 0.10%-0.15%. Compared to this, BCM Exchange’s fees are 8-20 times higher, depending upon which average you’re comparing with. Needless to say, these fees are not competitive.
Some level of comfort might be provided by the fact that trading fees are discounted as trading volumes are increased. This means that if you trade for more than EUR 100, your trading fee is 1.50%, and if you trade for more than EUR 1,000, your trading fee is 1.00%. This is very different from 2.00%. Full table of discounts can be found in the picture below:
BCM Exchange Withdrawal fees
The exchange charges a withdrawal fee amounting to 0.0005 BTC when you withdraw BTC. This fee is below the industry average (industry average is arguably around 0.0008 BTC per BTC-withdrawal).
BCM Exchange offers wire transfer as a deposit method, but credit cards are not a permitted deposit method. If you are somehow bound to using your credit card, then this is a disadvantage to you. However, as the exchange at all accepts deposit of fiat currencies, it distinguishes itself from many other exchanges that only allows deposits in cryptocurrencies. It also qualifies as something we call an “entry-level exchange”, meaning an exchange at which new cryptocurrency investors can take their first steps into the thrilling cryptocurrency world.
Both digital currencies and EURO deposits and withdrawals are processed automatically and credited to your BCM-account and/or bank account, respectively.
BCM Exchange Security
Two-factor authentication is available here. Moreover, BCM Exchange will send you a code via e-mail each time you want to access your account. Also, they encourage you to enable the 2FA with Google Authenticator.
Finally, there have been no hacking reports with respect to this exchange.