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 Bitrue consists of four parts: general information, fees, deposit methods and security.
Bitrue is one of the many cryptocurrency exchanges from Singapore. It launched in July 2018.
Singapore is together with Hong Kong the country in Asia where most cryptocurrency exchanges are registered. There’s certainly a fair share. But different from many other exchanges, Bitrue has headquarters in both Taiwan and Singapore, and local offices also in US and Europe.
The team running Bitrue consists of “senior management team from Capital One”, and the CEO is a profile within the cryptocurrency industry: Curis Wang.
Bitrue supports trading in a decent number of cryptocurrencies. You can trade all of the biggest ones here and even many of the smaller altcoins.
With respect to trading volume, Bitrue has a quite impressive standing. At the date of the last update of this review (4 June 2019), Bitrue had a 24 hour trading volume of USD 65 million, placing it on place no. 66 in the world in terms of 24 hour trading volume. USD 65 million in 24 hour trading volume is definitely decent, but compared to the big dragons on the cryptocurrency exchange scene such as OKEx or Binance, both having more than USD 2.3 billion in 24 hour trading volume, Bitrue’s liquidity is of course quite small.
Like most other exchanges, Bitrue 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. Bitrue has got you covered.
Bitrue does not list USA as a “prohibited country” or anything similar. So our belief is that US-investors may trade at this exchange. This belief is further supported by the fact that Bitrue also has offices in USA (also in Canada, Japan and Taiwan). US-investors should however do themselves the favour of forming their own opinion on any issues arising from their residency or citizenship.
Bitrue 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. The below is a picture of the trading view at Bitrue:
Bitrue Trading fees
This exchange doesn’t charge different fees between takers and makers. Their fee model is instead something called a “flat fee model”. Their flat fee model is 0.098%. This far lower than both the global industry average (arguably 0.25%) and the domestic industry average.
The domestic industry average in Singapore for taker fees and maker fees for all Singaporean cryptocurrency exchanges listed in our Cryptocurrency Exchange List (Coinbene, Triple Dice Exchange, Coinut, COSS, ExcambioRex, Coinhako, UEX, Cointiger, Kryptono, DragonEX, Coinhub and Tokenomy) are as follows:
Taker fee industry average in Singapore: 0.29%
Maker fee industry average in Singapore: 0.21%
Bitrue’s 0.098% taker and maker fee is substantially below the above domestic averages.
Bitrue Withdrawal fees
This trading platform charges a withdrawal fee amounting to 0.0005 BTC when you withdraw BTC. This fee is slightly below the global industry average (0.000812 BTC) and is thereby also a nice consumer-friendly feature of this trading platform.
This trading platform does not accept any deposits of fiat currency. This means that new cryptocurrency investors (i.e., investors without any previous holdings of cryptocurrencies) can’t trade here. In order to purchase your first cryptocurrencies, you need a so called entry-level exchange, which is an exchange accepting deposits of fiat currency. Find one by using our Exchange Finder!
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. Bitrue only received an F when we ran its website in this test. F is below industry average and is thus not a competitive advantage at all for Bitrue. In spite of this, Bitrue states on their website that they have an “exceptional uptime record with decentralized structure and anti-DDOS protection system”.
Low trading fees are indeed very important for any prospective cryptocurrency 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):