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 BitRabbit consists of four parts: general information, fees, deposit methods and security.
BitRabbit is an exchange registered in the Oceanic country Australia. Australia has its fair share of cryptocurrency exchanges, and the list includes: BW.com, CoinSpot, BTC Markets, CoinJar, Independent Reserve, ACX and CoolCoin. The team behind Bitrabbit comes from industries that are very relevant to operating a cryptocurrency exchange: internet, blockchain and finance.
The name of the platform is apparently a parallel to how fast the cryptocurrency industry changes. The founders of the platform wants its clients to “grow as fast as rabbits”.
The platform launched in February 2018. On the date of first writing this review (8 June 2019), BitRabbit had a 24 hour trading volume of USD 28.3 million placing it on place no. 66 on the list of the exchanges in the world with the highest 24 hour trading volume. On the date of last updating this review though (16 March 2020, right in the middle of the crisis with COVID-19), the trading volume was USD 198.3 million, a remarkable improvement. With this, BitRabbit earned place no. 64 on the list.
Like most other exchanges, BitRabbit also offers its trading platform as a mobile application. You can download it on App Store or to your Android without any effort at all. So, if you prefer to do your cryptocurrency trading on the go instead of at your desktop, don’t worry. BitRabbit has got you covered.
As many other exchanges, BitRabbit does not accept US-investors on its platform. If you’re from the US and you’re looking for the trading platform that is just right for you, don’t worry. Use our Exchange Finder to find an appropriate exchange accepting US-investors.
BitRabbit 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 BitRabbit:
BitRabbit 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.
BitRabbit Withdrawal fees
BitRabbit 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. BitRabbit’s withdrawal fees are thus roughly 40% lower than industry average.
All in all, the fees at BitRabbit are very competitive.
This exchange does not accept any other deposit method than cryptocurrencies, so new crypto investors are restricted from trading here. If you are a new crypto investor and you wish to start trading at this exchange, you will have to purchase cryptos from another exchange first and then – as a second step – deposit them here. Don’t worry though, you can find a so called “entry-level exchange” simply by using our Exchange Finder tool.
This exchange has a security score of D, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is actually above industry average when it comes to top crypto exchanges.
The majority of cryptocurrency exchanges in our Cryptocurrency Exchange List only receives an F when running the Observatory-test.
We hope you have enjoyed reading the above review. We also recommend checking out the following cryptocurrency exchanges. They are well established in the industry and have also received excellent ratings from the visitors on our site: