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 BITKER consists of four parts: general information, fees, deposit methods and security.
UPDATE 2 September 2019: We have received reports from several people in the cryptocommunity that there have been difficulties with withdrawals from this exchange. Naturally, this is quite worrying. When we emailed this exchange to receive more information on these allegations, the emails bounced. Accordingly, we have marked this exchange as dead and we do not recommend any user to start an account here at this point.
BITKER is an exchange registered in Singapore that launched in May 2018.
The exchange highlights on its website that the underlying BITKER platform is “carefully designed by the inhouse IT department”. They also emphasize that they have 24/7 multilingual customer support and that they are “one of the fastest exchanges in the market”.
If you live in Singapore and want a cryptocurrency exchange to trade at that is based in the same country as you – you are spoiled. All of the following exchanges are registered in Singapore: Coinbene, CoinLim, Coinut, COSS, Coinhako, Cointiger, Kryptono, DragonEX, Coinhub, Tokenomy, Bitrue, Bitbox, ABCC, CRXzone, Kyber Network and Liquid. But there are also others.
At the date of first writing this review, 2 April 2019, BITKER already had an impressive trading volume. Over the last 30 days (2 March 2019 – 2 April 2019), cryptocurrencies worth USD 5.16 billion had been traded there. On the date of last updating this review (11 June 2019), trading volume was incredibly more impressive than two months before. The 24 hour trading volume on 11 June 2019 was USD 770 million (up from 476 million) and on a 7 day basis, USD 5 billion (up from 1.1 billion). This shows that BITKER is constantly taking market shares from other exchanges.
BITKER offers trading in a large number of cryptocurrencies and has 47 different trading pairs.
The exchange does not explicitly state that US-investors are prohibited from trading. Accordingly, we do believe (but we do not guarantee) that US-investors can trade here.
As most other exchanges from Singapore, also BITKER has an app. A small snapshot of how the app looks can be found here (available for both Android and iPhone users):
BITKER 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. This is the trading view at BITKER:
BITKER Trading fees
Trading fees are naturally very important. 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. At this exchange, they don’t divide between takers and makers. Each party to a transaction pay the same fee: 0.10% of the order value. 0.10% is below the industry average. Industry average has for a long time been 0.25%, but we are currently seeing a shift towards lower fees. Many exchanges now charge e.g. 0.10% or 0.15% instead.
BITKER Withdrawal fees
BITKER charges a withdrawal fee amounting to 0.0005 BTC when you withdraw BTC. This is substantially below the industry average, as the industry average is 0.000812 BTC per BTC-withdrawal.
All in all, the fees at BITKER are competitive.
BITKER does not accept any deposits of fiat currency. This means that new cryptocurrency investors (i.e., investors without any previous holdings of cryptocurrencies) can’t trade here. In order to purchase your first cryptocurrencies, you need a so called entry-level exchange, which is an exchange accepting deposits of fiat currency. You can find one by using our Exchange Finder.
Finally, we run all the exchange-websites in Mozilla’s Observatory-test (https://observatory.mozilla.org/). The score in such test is one of many indicators of the exchange’s security. BITKER received an F-score in this test. When looking at all the exchanges in our Cryptocurrency Exchange List, the majority of all exchanges actually receive an F-score. So it shouldn’t lead you to believe that the exchange necessarily has poor security.
On the contrary, BITKER clearly states on its website that the platform utilizes multiple identity authentication, various KYC mechanisms, login security protection, and has regular maintenance of their wallets. They further state that they apply “zero tolerance for risk events”.
Liquidity is something very important for all exchanges, cryptocurrency exchanges but also regular stock market exchanges. BITKER does indeed have great liquidity. However, the following 10 cryptocurrency exchanges are also regularly among the cryptocurrency exchanges with the absolutely best liquidity in the world: