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 BCoin.sg consists of four parts: general information, fees, deposit methods and security.
UPDATE 9 June 2019: This exchange is currently down. When visiting the domain, you receive the message on the picture below. We will update you here as soon as we know more about the down time, whether it is for scheduled maintenance or something else.
UPDATE 19 November 2019: It is not possible to access this exchange’s website. We have accordingly marked it as dead.
BCoin.sg is an exchange from Singapore. There are numerous exchanges based in Singapore. A non-exhaustive list includes: Coinbene, CoinLim, Coinut, COSS, Coinhako, Cointiger, Kryptono, DragonEX, Coinhub, Tokenomy, Bitrue, Bitbox, ABCC, CRXzone, Kyber Network and Liquid. But there are also others.
The platform launched in April 2018. At the date of writing this review, 18 April 2019, the exchange has been under maintenance for some time. Accordingly, we have now liquidity numbers to present here. Once the exchange reopens we will present updated trading volume numbers here as soon as possible.
BCoin.sg does not list US-investors as prohibited from trading. However, US-investors should do their own independent assessment of any problems arising from their residency or citizenship.
BCoin.sg 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.
When we were to obtain a picture of the trading view at BCoin.sg, the page was down for maintenance. We will try to post a picture of the trading view here within the near future.
BCoin.sg Trading fees
Trading fees are naturally very important. Every time you place an order, the exchange charges you a trading fee. The trading fee is normally a percentage of the value of the trade order. At this exchange, they don’t divide between takers and makers. Each party to a transaction pay the same fee: 0.20% of the order value.
0.20% is on point with, or even slightly below, the industry average. Industry average has for a long time been 0.25%, but we are currently seeing a shift towards lower fees. Many exchanges now charge e.g. 0.10% or 0.15% instead.
BCoin.sg Withdrawal fees
BCoin.sg charges a withdrawal fee amounting to 0.0005 BTC when you withdraw BTC. This is substantially below the industry average, as the industry average is 0.000812 BTC per BTC-withdrawal. BCoin.sg’s withdrawal fees are thus roughly 40% lower than industry average.
All in all, the fees at BCoin.sg are very competitive.
BCoin.sg accepts deposits through both wire transfer and credit cards. This is of course viewed as very positive by many crypto investors. However, one should generally look out for the different deposit fees charged by exchanges for deposit of fiat currencies via wire transfer or credit cards. It might be indifferent to you whether you should deposit via wire transfer or credit card, but the fees can make the choice quite important.
Seeing as BCoin.sg accepts deposits of fiat currency, the exchange qualifies as a so called “entry-level exchange”, at which new cryptocurrency investors can take their first steps into the exciting cryptocurrency world.
We run all the exchange-websites in Mozilla’s Observatory-test (https://observatory.mozilla.org/). The score in such test is one of many indicators of the exchange’s security. BCoin.sg received an F-score in this test. Don’t be overly alarmed though, as F is actually the Mozilla Observatory-score received by the majority of all exchanges in our Cryptocurrency Exchange List.
The exchange reviewed above is what we call an “entry-level exchange”. This means that this exchange also makes it possible for someone to enter the cryptocurrency market with fiat currency. There are numerous entry-level exchanges out there, including (but not limited to):