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 0.25%. 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 exactly on point with 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%. But, at least for the time being, 0.25% can still be considered industry average.
Bitsdaq Withdrawal fees
Bitsdaq charges a withdrawal fee amounting to 0.0005 BTC when you withdraw BTC. This is below the global industry average with almost 40% (seeing as the global industry average BTC-withdrawal fee is 0.000812 BTC per BTC-withdrawal). Accordingly, the withdrawal fees are competitive.
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’s security score is D, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is actually above average, when looking at all of the exchanges in our Cryptocurrency Exchange List. The median score of all exchanges listed is – surprisingly enough – F.
It should be noted here though that 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.