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 BitKub consists of four parts: general information, fees, deposit methods and security.
BitKub is a Thai cryptocurrency exchange. It launched in February 2018. While Thailand is not the Asian country with the most cryptocurrency exchanges, it does have a few. In addition to BitKub, also BX Thailand and TDAX have their headquarters here.
The 24 hour trading volume at this exchange is not that impressive. On the day of writing this review (27 November 2018), the 24 hour trading volume was only USD 632,000. This placed Bitkub at place 147 in the list of exchanges rated after 24 hour trading volume.
As far as we can tell by doing the customer on-boarding procedures ourselves here, Bitkub permits US-investors. Any US-investors interested in trading here should in any event form their own opinion on any issues arising from their citizenship or residency.
While speaking of the on-boarding procedure, we must mention here that it was somewhat difficult to get approved here. In our numerous different tries, the reason for not on-boarding us were sometimes a bit extreme. One example was that certain details from the passport that were clearly visible with one zoom-click, apparently had to be visible with no zoom at all, and the selfie was therefore rejected. Another reason was that the signature on the paper (the “I want to create an account with BitKub.com”-paper) was too different from the signature on the passport copy. Who has a signature that looks anything like the signature on the passport copy? According to information provided to us, they are currently reviewing these procedures to see if they can be made easier without being non-compliant with Thai laws.
BitKub Trading fees
This exchange doesn’t charge different fees between takers and makers. Their fee model is instead something called a “flat fee model”. They have set their flat fee at 0.25% which is exactly in line with global industry average. In other words, the trading fees are not bad, but not very good either.
BitKub Withdrawal fees
The withdrawal fees at this exchange when withdrawing BTC is 0.0005 BTC. This is almost 50% lower than the global industry average BTC-withdrawal fee which is 0.0008 BTC. Accordingly, the withdrawal fee is competitive. Sure, the amounts involved here are insignificant but there are exchanges that really squeeze you hard when you withdraw cryptocurrency or fiat currency. Happy to say that BitKub is not one such exchange at least.
BitKub offers wire transfer as a deposit method, but you can’t deposit via credit card. This of course negative news to you if you would prefer to use your credit card for any reason.
We run all 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. BitKub only received an F-score in this test. This is below industry average and is thus not a competitive advantage at all for this trading platform.
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):