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 Bitonic consists of four parts: general information, fees, deposit methods and security.
Bitonic’s domicile country is the Netherlands. They claim to be the “first and largest Bitcoin company” in the country.
BTC is the only available cryptocurrency at this exchange. If you want to trade the less popular coins (AdShares, Ethbits Token, Octoin Coin, Origami Network Token, Sequence Token, or any coin with a similar market capitalization to those), you’ll have to look elsewhere.
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.
Bitonic has also founded something they call the Bitonic Academy. This institution offers education and workshops in blockchain technology, Bitcoin, security in the blockchain sphere, fraud prevention, advanced applications of Bitcoin and much more. Several large companies are co-sponsors of the Bitonic Academy and it has given presentations to many key industry players in the Netherlands.
Bitonic 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 trading 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. At this exchange, there is only an order box. This makes it easily understandable for new crypto investors, while it might lack some features that more experienced traders look for. The below is a picture of the trading view at Bitonic:
Bitonic Trading Fees
Always check the trading fees of an exchange you are interested in. We have not been able to find this exchange’s trading fees. This is potentially a risk for you as an investor. If you can’t find them, they’re usually higher than you want them to be. Accordingly, we strongly urge you to make you own analysis of the trading fees at this exchange before depositing any funds there and before concluding that it is the best cryptocurrency exchange site for you.
Bitonic Withdrawal Fees
Another fee to consider before choosing which exchange to trade at is the withdrawal fee. The withdrawal fee is usually fixed (regardless of the amount of cryptocurrency units withdrawn), and varies from cryptocurrency to cryptocurrency. The global industry average withdrawal fee is arguably around 0.0008 BTC when you withdraw BTC, but we see more and more changes that have started charging 0.0005 BTC per withdrawal. 0.0005 BTC is thus establishing itself as the new industry average.
Here, at Bitonic, you only have to pay the network fees when withdrawing. These are the fees that miners receive to confirm transactions. Only charging network fees is competitive.
Bitonic offers wire transfer as a deposit method, but you can’t deposit via credit card. So if you’re a person who likes to flex your credit card everywhere you go (even in cyberspace), this is bad news to you. However, as the exchange accepts deposit of fiat currencies at all, it distinguishes itself from many exchanges that only allows deposits in cryptocurrencies.
Bitonic’s security score is A-, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is actually one of the top grades out of all 500+ exchanges that we have reviewed.
Finally, there are only a few exchanges that – like the above exchange – receive Mozilla Observatory-scores of B or higher. The following list includes a few such exchanges with very impressive security scores: