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 BitOffer consists of four parts: general information, fees, deposit methods and security.
BitOffer is a newer addition to the gang of Hong Kong cryptocurrency exchanges. There is a large number of Hong Kong cryptocurrency exchanges, as the country has been one of crypto’s strongholds since early on. In addition to this exchange, the list also includes (but is not in any way limited to) the industry-leader Binance.
This trading platform is also available through mobile use, if you for any reason would prefer that. Most of the cryptocurrency trading is executed through desktops, but you should always consider what you prefer for yourself.
The exchange allows US-investors to trade at the platform. But, US-investors should as always do their own independent assessment of any problems arising from their residency or citizenship.
BitOffer 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 BitOffer:
BitOffer Trading fees
OK so this is where it gets really interesting. BitOffer’s trading fees.
BitOffer’s trading fees for takers are 0.075%. This fee is way below the industry average which is around 0.25% (although it’s starting to become lower, many exchanges are moving towards 0.15%-0.10%). These trading fees clearly make up a strong competitive advantage against the majority of other top crypto exchanges in the market. But that’s not all. BitOffer’s fee for makers is -0.025%, meaning that you get paid for completing an order where you are the maker.
The latter is a very strong competitive edge in the market and is especially beneficial for the investors not interested in picking up existing orders from the order book but rather prefers to “go fishing” with maker-orders.
BitOffer Withdrawal fees
BitOffer charges a withdrawal fee amounting to 0.0005 BTC when you withdraw BTC. This fee is roughly 40% lower than the global industry average (0.000812 BTC) and is thereby also a nice consumer-friendly feature of this trading platform.
At Bitoffer you can deposit fiat currency via wire transfer, but not via credit card. Accordingly, if you for some reason would prefer to deposit to your choice of trading platform via your credit card then you need to find another exchange. Don’t worry though, you can find an exchange that accept credit card deposits simply by using our Exchange Finder tool.
However, as this exchange at all accepts fiat currency deposits, it qualifies as an “entry-level exchange” where new cryptocurrency investors can take their first steps into the thrilling cryptocurrency world.
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. BitOffer received an F- score in this test. This should however be viewed in light of the fact that F is the Mozilla Observatory-score received by the majority of all exchanges in our Exchange List.
Low trading fees are indeed very important for any prospective investor. All of the following exchanges also – like the above exchange – have very low trading fees (some of them don’t even charge trading fees at all):