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 Bitlio consists of four parts: general information, fees, deposit methods and security.
Bitlio’s domicile country is the tropical island of Belize. The exchange does not explicitly prohibit US-investors from trading on its exchange. In any event, all US-investors should still do their own independent analysis of any problems arising from their residency or citizenship. In a worst-case scenario, they can’t trade the exchange that would otherwise be the best cryptocurrency exchange site for them.
You can only trade BTC here. If you also want to trade the less popular coins (Centrality, Ethorse Coin, ZCCoin, Taler Coin, Transcodium Coin, or any coin with a similar market capitalization to those), you’ll have to look elsewhere.
Bitlio Trading fees
Never forget to check the trading fees of an exchange you are interested in trading at. A number of top crypto exchanges don’t charge different fees between takers and makers. Usually, it is called that such exchanges’ trading fees are “flat”. This exchange offers a flat trading fee of 1.00%. This exchange 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 is an attractive trading fee model.
The exchange’s trading fees for takers are 1.00%. This fee is substantially above the 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.
Bitlio Withdrawal fees
We have not been able to find Bitlio’s withdrawal fees. This is potentially also a risk for you as an investor. If you can’t find the withdrawal fees, our experience tells us that they are usually higher than you want them to be. Accordingly, we strongly urge you to make you own analysis of the withdrawal fees at Bitlio before depositing any funds at the exchange and before concluding that Bitlio is the best cryptocurrency exchange site for you.
Bitlio offers wire transfer as a deposit method, but deposits via credit cards are not permitted.
Bitlio’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):