UPDATE 1 August 2020: When we try to enter this site, we meet this picture:
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A crypto exchange 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 BitHash consists of four parts: general info, fees, deposit methods and security.
BitHash is an exchange registered in the Seychelles that launched in 2016. The company owning the platform is Phoenix Trading Solutions Ltd.
According to information from the exchange to Cryptowisser, the platform currently has over 250,000 users. A quite decent number!
As far as we can tell, US-investors can use this platform. But, as always, US-investors should make their own assessment of whether they can trade here or not. Sometimes, state laws provide big obstacles for certain US-investors.
The platform is available in Chinese, Russian and English.
BitHash also has a referral program. What makes this program different from most other similar programs, is that it has five different tiers. You receive 20% of the trading fees from your direct invitees, 10% from the indirect invitees, and then down to 1% for the level 5 invitees. This is somewhat unusual and could be quite profitable for a user with many invitees.
BitHash 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 at BitHash:
BitHash Trading fees
This exchange doesn’t charge different fees between takers and makers. Their fee model is instead something that we call a “flat fee model”. They have a flat trading fee of 0.10%. The industry average is arguably around 0.25% so these trading fees charged by BitHash are definitively competitive. That is even though the industry averages are steadily decreasing, and 0.10% – 0.15% are slowly becoming new industry averages.
BitHash Withdrawal fees
Over to the withdrawal fees then. These are also very important to consider. When withdrawing BTC, the exchange charges you 0.0005 BTC. This withdrawal fee is also far below the industry average (roughly 40% lower than industry average, arguably being 0.000812 BTC).
All in all, the fees charged at this exchange is a competitive advantage against most other crypto exchanges out there today.
At this trading platform, you can deposit through both wire transfer and credit cards. This can be helpful especially for newer crypto investors. The fact that fiat currency deposits are permitted at all also makes this exchange an “entry-level exchange”, meaning an exchange where new investors can take their first steps into the exciting crypto world.
Our security score is the result of testing the webpage of each exchange at Observatory by Mozilla (https://observatory.mozilla.org/) which has helped over 125,000 websites by teaching developers, system administrators, and security pros how configure their sites safely and securely.
BitHash’s security score is C+, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is actually above average when it comes to the exchanges listed in our Exchange List (a majority only receives an F in the Observatory-test).
We hope you have enjoyed reading the above review. We also recommend checking out the following cryptocurrency exchanges. They are well established in the industry and have also received excellent ratings from the visitors on our site: