US investors permitted
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 bitINKA consists of four parts: general information, fees, deposit methods and security.
bitINKA’s domicile country is Peru. Unfortunately for US-investors, bitINKA prohibits US-investors from trading on its exchange. So if you are a US-investor and want to trade at this Peruvian exchange, you’ll be let down.
bitINKA Trading fees
Never forget to check the trading fees of an exchange you want to trade at. This is muy importante. This Peruvian exchange’s trading fees for takers are 0.50%. This fee is above the global industry average which is around 0.25%. One should consider whether the exchange has a strong offering to investors in other respects that outweighs the disadvantage of this somewhat higher trading fee. The exchange’s maker fees are lower (0.25%) and is thus a large discount compared to the taker fees. That might be some sort of comfort for you.
bitINKA Withdrawal fees
bitINKA charges a percentage based withdrawal fee of 0.15%. This is extremely above average in the industry. Let’s say you withdraw BTC worth USD 100 000, then bitINKA’s withdrawal fee would sum up to USD 150. Sure, if you all of the USD 100,000 is gains, you might not bother, but in the long run these withdrawal fees can really make a difference.
bitINKA offers wire transfer as a deposit method, but deposits via credit cards are not permitted. This is an obvious disadvantage for the people who prefer to use their credit cards.
bitINKA’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.
If you have concluded that this is the exchange for you, congratulations! Go for it. But if not, please use our Exchange Finder here to find out which exchange has the best cryptocurrency exchange site for you.