BitAsset Exchange Review
A crypto exchange guide must provide reviews of all of the crypto exchanges out there, so that you can find the right one for you. This review of BitAsset Exchange consists of four parts: general info, fees, deposit methods and security.
BitAsset Exchange is an exchange from Hong Kong. There are loads of coin exchanges from Hong Kong. Hong Kong is in a way the Mecca of crypto trading. Two of BitAsset Exchange’s larger competitors on its home turf are Binance and KuCoin.
This exchange has a three-digit number of trading pairs available to trade on the platform: 105. According to information from its website on the date of first writing this review (27 June 2019), the 24 hour trading volume was as high as USD 1.08 billion. However, on the date of last updating this review (16 March 2020, right in the middle of the crisis with COVID-19), the trading volume according to Coinmarketcap had dropped to USD 290 million. This is still an impressive trading volume though.
The exchange also prides itself on having customer support 24/7. This is naturally very helpful, especially considering that crypto trading is global in its nature and that the traders on the platform will likely reside in a large number of different time zones.
The exchange does not allow US-investors to trade on this exchange. So, if you are a US-investor and you want to trade at BitAsset Exchange, you’ll have to reconsider your choice of trading venue and choose one of the other top crypto exchanges. To find a trading platform accepting residents/citizens from the US, just use our Exchange Finder or toggle with the filters in our Exchange List and we promise that you’ll find a suitable alternative for you.
The BitAsset trading platform is also available as a mobile application. This enables you to do your crypto trading not only on your desktop, but also from your phone or table. While most cryptocurrency trading is still executed via desktop today, this might anyway be an attractive aspect for some traders out there.
BitAsset Exchange offers leveraged trading on its trading platform. This means that you can receive a higher exposure towards a certain cryptocurrency’s price increase or decrease, without having the assets necessary. You do this by “leveraging” your trade, which in simple terms essentially means that you borrow from the exchange to bet more.
For instance, let’s say that you have 10,000 USD on your trading account and bet 100 USD on BTC going long (i.e., increasing in value). You do so with 100x leverage. If BTC then increases in value with 10%, if you had only bet 100 USD, you would have earned 10 USD. As you bet 100 USD with 100x leverage, you have instead earned an additional 1,000 USD (990 USD more than if you had not leveraged your deal). On the other hand, if BTC decreases in value with 10%, you have lost 1,000 USD (990 USD more than if you had not leveraged your deal). So, as you might imagine, the balance between risk and reward in leveraged deals is quite fine-tuned (there are no risk free profits).
BitAsset 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. The below is a picture of the trading view for the spot market at BitAsset Exchange:
BitAsset Exchange Fees
BitAsset Exchange Trading fees
This platform for cryptocurrency trading does not charge different fees between takers and makers. Usually, you say that such exchanges’ trading fees are “flat”. For investors who prefer to pick-up existing orders from the order book, this might be an attractive trading fee model. BitAsset Exchange’s flat trading fee is normally 0.10%. 0.10% can be argued to be slightly below the industry average.
BitAsset Exchange Withdrawal fees
BitAsset Exchange's withdrawal fee is 0.0005 BTC per BTC-withdrawal. This fee is a bit below the industry average. The global industry average BTC-withdrawal fee the last time we at Cryptowisser did a full-blown empirical study of it was approx. 0.0008 BTC per BTC-withdrawal. But today, we see more and more exchanges charging 0.0005 BTC per BTC-withdrawal, so one could argue that 0.0005 BTC is starting to become the new industry average.
BitAsset Exchange does not currently accept any other deposit method than cryptos. This means that new crypto investors are restricted from trading here. If you don’t have any crypto but want to start trading at this cryptocurrency exchange site, you will first have to purchase cryptocurrencies from another exchange and then, as a second step, deposit them here. To find an exchange accepting fiat currency deposit, just go to our Cryptocurrency Exchange List and look for green checkmarks in the “wire” or “credit” columns.
However, according to information provided to Cryptowisser on 24 June 2019, credit card deposits will be available “soon”. Stay tuned for more information on this development!