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 BitcoinTrade consists of four parts: general information, fees, deposit methods and security.
BitcoinTrade’s domicile country is Brazil. The land of samba and football (“soccer” for you Americans) is actually also a wasp nest of cryptocurrency exchanges. Among the biggest and most popular cryptocurrency exchanges from Brazil we find, inter alia, Bleutrade.
BitcoinTrade does not explicitly prohibit US-investors from trading on its exchange. In any event, all US-investors should still do their own analysis of whether their home state imposes any legal obstacles to them trading at any of the top crypto exchanges that could be the best cryptocurrency exchange site for them.
BitcoinTrade Trading fees
The fees at any exchange are very important to consider. There are a number of top crypto exchanges who don’t charge different fees between takers and makers. Usually, it is called that such exchanges’ trading fees are “flat”. BitcoinTrade is such an exchange.
BitcoinTrade offers a flat trading fee of 0.50% and does accordingly not care about whether you are a taker or a maker. For investors who prefer to pick-up existing orders from the order book, this might be an attractive trading fee model. 0.50% flat fee is above the industry average which is around 0.25%. One should also consider whether the exchange has a strong offering to investors in other respects that outweighs the disadvantage of this higher trading fee.
BitcoinTrade Withdrawal fees
BitcoinTrade’s withdrawal fees correspond to the network fees. Just charging the network fee is a fee model that is also lower than the industry average. Such fee model constitutes a strong competitive advantage against the majority of other top crypto exchanges in the market.
BitcoinTrade offers wire transfer as a deposit method, but not credit cards. This might of course be bad for you if you would prefer to use your credit card for any reason.
BitcoinTrade’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.
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):