UPDATE 1 September 2020: We have not been able to access the website of this exchange lately, but receive an error message (Error 522) when trying to access. Usually when this happens, without any preceding information on system maintenance or upgrades, it is because the exchange has closed down. But it could also be for other reasons. However, pending contrary information, we have marked this exchange as "dead" and moved it to our Exchange Graveyard.
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A trading cryptocurrency guide must provide reviews of all of the top crypto exchanges out there. This is so that you can find the best cryptocurrency exchange site for you. This review of Bitrush consists of four parts: general information, fees, deposit methods and security.
Bitrush’s domicile country is the Netherlands. This trading platform is not for people interested in the less established cryptocurrencies (ZCCoin, Trustnote Coin, Ultracoin, SuperNET Coin, Ybcoin, or coins of roughly the same size). Only the market leading cryptocurrencies are available for trading at this exchange.
Bitrush 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 still can’t trade at one or several exchanges that could be the best cryptocurrency exchange site for them (maybe including this one).
Bitrush 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. 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 purchase interface at Bitrush:
Bitrush Trading fees
The one thing you must not forget is to check the trading fees of an exchange that interests you. Bitrush is different from most other crypto exchanges in the way that it does not offer trading between cryptocurrencies. The only service offered is buying and selling BTC. When buying BTC from the exchange, the purchase price offered by the exchange is usually slightly higher than the market price. Conversely, when selling BTC to the exchange, the purchase price offered is usually slightly lower than the market price. The mark-up or mark-down is not specified anywhere.
On the date of last updating this review (28 May 2020), the mark-up/mark-down charged by Bitrush was 1.72%. This is quite acceptable for this type of service.
On a very positive note, Bitrush claims on its website that the average processing time of its transactions is 70 seconds. This is extremely fast for a company offering this kind of service.
Bitrush Withdrawal fees
Considering how this exchange operates, withdrawal fees are irrelevant as comparison criteria.
Bitrush accepts deposits through both wire transfer, credit cards and cryptocurrencies – the full battery! This is of course a huge upside with Bitrush’s services. Here is an overview of their main payment methods (iDEAL and Bancontact):
One might ask why security is even a feature that we at Cryptowisser have looked for at the different top crypto exchanges. Two reasons:
- Exchanges store a huge amount of valuable personally identifiable information.
- Exchanges handle a lot of cash or coin deposits and withdrawals.
In light of the above, it is comforting to know that Bitrush’s security score is B, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is far above average when it comes to top crypto exchanges and could also be a factor making you conclude that Bitrush is the best cryptocurrency exchange site for you.
There are only a few exchanges that – like the above exchange – receive Mozilla Observatory-scores of B or higher. The following list includes 10 such exchanges with very impressive security scores: