US investors permitted
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 Bitsane consists of four parts: general information, fees, deposit methods and security.
Bitsane’s domicile country is Ireland. In addition to this exchange, also AnyBits is from Ireland.
Bitsane 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 are still prohibited from trading at one or several exchanges that could be the best cryptocurrency exchange site for them (maybe including this one).
Bitsane Trading fees
The one thing you must never forget is to check the trading fees of an exchange that interests you. Before reading the below information it can be worth clarifying the following: what is a taker fee, and what is a maker fee? As your No. 1 trading cryptocurrency guide, we will help you with that.
Every trade occurs between two parties: the maker, whose order exists on the order book prior to the trade, and the taker, who places the order that matches (or “takes”) the maker’s order. Makers are so named because their orders make the liquidity in a market. Takers are the ones who remove this liquidity by matching makers’ orders with their own. The maker-taker model encourages market liquidity by rewarding the makers of that liquidity with a fee discount. It also results in a tighter market spread due to the increased incentive for makers to outbid each other. The higher fee that the taker pays is usually offset by the better prices this tighter spread provides.
Bitsane’s trading fees for takers are 0.25%. This fee is in line with industry average. In addition, Bitsane offers a discount for makers. Their maker fee is 0.15%, thus promoting the liquidity at the exchange. This is a 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. Maybe this condition even makes Bitsane the best cryptocurrency exchange site for you?
Bitsane Withdrawal fees
Bitsane charges a withdrawal fee amounting to 0.0001 BTC when you withdraw BTC. This fee is incredibly low and far below the industry average.
Bitsane offers wire transfer as a deposit method, but you can’t deposit via credit card. This might of course be a disadvantage to you if you would prefer to use your credit card for any reason.
Bitsane’s security score is D+, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is in line with industry average when it comes to top crypto exchanges.
If you have concluded that this is the exchange for you, congratulations! Go for it. But if not, please use our Exchange Finder here to find out which exchange has the best cryptocurrency exchange site for you.