Bitcoin.com Exchange Review
Bitcoin.com is probably one of the world's most sought after domain names. And the company owning this domain name, also has an exchange, the Bitcoin.com Exchange. The exchange is registered in Saint Kitts and Nevis, and while Bitcoin was born in 2009, Bitcoin.com marks its birth date to January 2008. We are not entirely sure how this checks out, it must have been one lucky domain name registration if that information is true.
At Bitcoin.com Exchange, you can trade the following cryptos: BTC, BCH, ETH, XRP, LTC, BNB and XLM. As main advantages, the platform highlights that it is secure, fast and that they have dedicated 24/7 support.
Bitcoin.com Exchange Mobile Support
Most crypto traders feel that desktop give the best conditions for their trading. The computer has a bigger screen, and on bigger screens, more of the crucial information that most traders base their trading decisions on can be viewed at the same time. The trading chart will also be easier to display. However, not all crypto investors require desktops for their trading. Some prefer to do their crypto trading via their mobile phone. If you are one of those traders, you’ll be happy to learn that Bitcoin.com Exchange’s trading platform is also mobile compatible. You can download it to/from both the AppStore and Google Play:
Why do so many exchanges not allow US citizens to open accounts with them? The answer has only three letters. S, E and C (the Securities Exchange Commission). The reason the SEC is so scary is because the US does not allow foreign companies to solicit US investors, unless those foreign companies are also registered in the US (with the SEC). If foreign companies solicit US investors anyway, the SEC can sue them. There are many examples of when the SEC has sued crypto exchanges, one of which being when they sued EtherDelta for operating an unregistered exchange. Another example was when they sued Bitfinex and claimed that the stablecoin Tether (USDT) was misleading investors. It is very likely that more cases will follow.
It is unclear whether Bitcoin.com Exchange permits US investors or not. We have read their Terms and Conditions and have not found an explicit prohibition of US investors. We urge any US investors to form their own opinion on the permissibility of their trading at Bitcoin.com Exchange though.
Bitcoin.com Exchange also offers leveraged trading to its users. As far as we can tell, they only offer perpetuals (i.e. futures without expiry dates). The maximum leverage level for their perpetuals is 10x (i.e. ten times the relevant amount).
A word of caution might be useful for someone contemplating leveraged trading. Leveraged trading can lead to massive returns but – on the contrary – also to equally massive losses.
For instance, let’s say that you have 100 USD in your trading account and you bet this amount on BTC going long (i.e., going up in value). If BTC then increases in value with 10%, you would have earned 10 USD. If you had used 100x leverage, your initial 100 USD position becomes a 10,000 USD position so you instead earn an extra 1,000 USD (990 USD more than if you had not leveraged your deal). However, the more leverage you use, the smaller the distance to your liquidation price becomes. This means that if the price of BTC moves in the opposite direction (goes down for this example), then it only needs to go down a very small percentage for you to lose the entire 100 USD you started with. Again, the more leverage you use, the smaller the opposite price movement needs to be for you to lose your investment. So, as you might imagine, the balance between risk and reward in leveraged deals is quite fine-tuned (there are no risk free profits).
Bitcoin.com Exchange Trading View
Every trading platform has a trading view. The trading view is the part of the exchange’s website where you can see the price chart of a certain cryptocurrency and what its current price is. There are normally also buy and sell boxes, where you can place orders with respect to the relevant crypto, and, at most platforms, you will also be able to see the order history (i.e., previous transactions involving the relevant crypto). Everything in the same view on your desktop. There are of course also variations to what we have now described. This is the trading view at Bitcoin.com Exchange:
It is up to you – and only you – to decide if the above trading view is suitable to you. Finally, there are usually many different ways in which you can change the settings to tailor the trading view after your very own preferences.
Bitcoin.com Exchange Fees
Bitcoin.com Exchange Trading fees
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. Many exchanges divide between takers and makers. Takers are the one who “take” an existing order from the order book. Makers are the ones who add orders to the order book, thereby making liquidity at the platform.
This platform charges takers 0.20% per trade. These taker fees are higher than the global industry averages for centralized exchanges. Industry averages have historically been around 0.20-0.25% but we now see new industry averages emerging around 0.10%-0.15%.
Does the platform have even better deals for makers? Yes, but only a slightly better deal. Makers pay 0.15% instead of 0.20%.
Bitcoin.com Exchange Withdrawal fees
To our understanding, Bitcoin.com Exchange does not charge any fees of their own when you withdraw crypto from your account at the platform. Accordingly, the only fee you have to think about when withdrawing are the network fees. The network fees are fees paid to the miners of the relevant crypto/blockchain, and not fees paid to the exchange itself. Network fees vary from day to day depending on the network pressure. In general though, only paying the network fees should be considered as below global industry average when it comes to fee levels for crypto withdrawals.
Bitcoin.com Exchange lets you deposit cryptocurrency assets to the exchange, which is quite standard. However, they also let you purchase and sell crypto via debit and credit cards. Wire transfer, on the other hand, are not an accepted deposit method at this platform.
Seeing as fiat currency deposits are at all possible at this trading platform, Bitcoin.com Exchange qualifies as an “entry-level exchange”, meaning an exchange where new crypto investors can start their journey into the exciting crypto world.
Use our Exchange Filters to easily see which platforms that allow wire transfer deposits as well.