UPDATE 15 July 2021: When trying to access the website of Bitsdaq today, we were unsuccessful. There has been no preceding messages on system maintenance or new websites or anything similar. We receive an Error 522.
Accordingly, we believe that this exchange has closed down and we have marked it as "dead" in our Exchange Graveyard. If the exchange's website would become accessible again and the error is just temporary, we will "revive" it and bring it back to our Exchange List.
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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 Bitsdaq consists of four parts: general information, fees, deposit methods and security.
Bitsdaq is an exchange partner of Bittrex. More specifically, Bitsdaq is Bittrex’s exchange partner in Singapore, Macau and Canada.
The Bitsdaq platform is operated and owned by a comany named BQ Technology Company Limited. According to our research, this company is based in Hong Kong.
If you are one of the people who prefers to do your crypto trading on your phone instead of on your desktop, you’ll be happy to learn that Bitsdaq is also available as a mobile app. You can download the app and use the features of the trading platform on your iPhone.
Bitsdaq 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. The below is a picture of the trading view at Bitsdaq:
Bitsdaq Trading fees
This trading venue offers a flat trading fee of 0.10%. It does accordingly not distinguish between takers and makers. For investors who prefer to pick-up existing orders from the order book, this might be an attractive trading fee model.
The industry average is arguably 0.25%, so this exchange is quite below the industry average here. We are currently seeing a shift in trading fee industry averages though, with more and more exchanges setting their fee levels at 0.10% or 0.15%. In any event, 0.10% is a competitive fee.
Bitsdaq Withdrawal fees
Bitsdaq charges a withdrawal fee amounting to 0.0006 BTC when you withdraw BTC. This is on point with what we have found is the industry average BTC-withdrawal fee (0.0006 BTC per BTC-withdrawal).
All in all, fees here are in line with industry average. Nothing more, nothing less.
This cryptocurrency exchange does not accept any other deposit method than cryptocurrencies. Accordingly, the exchange is not directly available to new crypto investors. If you are a new crypto investor and you wish to start trading there, you will have to purchase cryptos from another exchange first and then deposit them at the exchange. If you absolutely must find an exchange where fiat currency deposits are possible (i.e., where you can start off your crypto career), you can easily find several such exchanges in our Cryptocurrency Exchange List by just using the sorting filter functions.
Bitsdaq has a strong focus on security. As a few of the features employed to strengthen security, we can mention that the wallet keys are fragmented into smaller parts, and then distributed across different locations. Each such location is heavily encrypted (three layers or more). The exchange also has CloudFlare and DDOS-protection, as well as strong protection against so called XSS and CSRF attacks.