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 BITSSA consists of four parts: general information, fees, deposit methods and security.
BITSSA’s domicile country is India. Unfortunately for US-investors, BITSSA do not allow US-investors admittance to their exchange. So, if you are a US-investor and you want to trade at this exchange, you’ll have to reconsider your choice of trading venue.
BITSSA Trading fees
The one thing you must not forget is to check the trading fees of an exchange that interests you. BITSSA’s trading fees for takers are 1.00%. This fee is substantially above the global industry average which is around 0.25%. Indian exchanges do however have slightly higher trading fees than the rest of the world, so relative to the other Indian exchanges the 1.00% taker fee is nothing out of the ordinary. In any event, one should consider whether this exchange has a strong offering to investors in other respects that outweighs the disadvantage of this somewhat higher trading fee.
Conversely, the exchange has a very competitive maker fee: 0.00%! The reasoning behind this zero-fee is that it promotes the liquidity in the exchange’s order book. This is a very 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.
BITSSA Withdrawal fees
BITSSA charges a withdrawal fee when withdrawing BTC amounting to the network fee. This withdrawal fee is below the industry average and thus constitutes a strong competitive advantage against the majority of other top crypto exchanges in the market.
BITSSA accepts deposits through both wire transfer and credit cards. This can be helpful especially for newer crypto investors.
BITSSA’s security score is F, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is below 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.