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 BTC38 consists of four parts: general information, fees, deposit methods and security.
UPDATE 12 June 2019: We have not been able to access this exchange’s site. Regardless of which browser we are using, the page just keeps loading but never loads to completion. We have not seen any announcement of server downtime, maintenance or anything similar. Until we hear otherwise, we will assume that this exchange is down. Please do let us know if you have any information as to the status of this exchange. In the meantime, it will be marked as “dead”.
UPDATE 6 December 2019: The site is now accessible again but the exchange is not. The company has focused their efforts on their wallet. For crypto exchange purposes, BTC38 is “dead” and we have marked it as such and moved it to our Exchange Graveyard.
BTC38 is a cryptocurrency exchange headquartered in China. One of many other exchanges from China that you might be interested in if this exchange is not to your liking is BTCTrade.im.
As most Chinese exchanges, BTC38 does not allow US-investors to trade on its exchange. So if you are a US-investor and want to trade here, you’ll have to reconsider your choice of trading venue and choose one of the other top crypto exchanges.
BTC38 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 BTC38:
BTC38 Trading fees
We have not been able to find BTC38’s trading fees. This is potentially a risk for you as an investor (if they are not informed of anywhere we believe there is a higher risk that they are high). Accordingly, we strongly urge you to make your own analysis of the trading fees at this exchange before depositing any funds there and before concluding that it is the best cryptocurrency exchange site for you.
BTC38 Withdrawal fees
Furthermore, we have not been able to find BTC38’s withdrawal fees either. This makes the above conclusion even more relevant and you should see this as a warning. Do not initiate trading activities at BTC38 before you have concluded what the trading fees and withdrawal fees are.
BTC38 offers wire transfer as a deposit method, but you can’t deposit via credit card. This might of course be disadvantageous if you would prefer to use your credit card for any reason.
Security is important. Examples of successful hacks are countless. The most famous is probably the Mt.Gox-hack that left thousands of users without a penny (worth $450 million at that time and many times more today). But many other exchanges have faced similar outcomes. We don’t want your exchange – and specifically not your funds at the exchange – to be subject of a cyber-attack! Our security score is the result of testing the webpage of each exchange at Observatory by Mozilla (https://observatory.mozilla.org/) which has helped over 125,000 websites by teaching developers, system administrators, and security professionals how configure their sites safely and securely.
BTC38’s security score is F, when performing the test at Observatory by Mozilla. This is below industry average when it comes to top crypto exchanges.
The exchange reviewed above is what we call an “entry-level exchange”. This means that this exchange also makes it possible for someone to enter the cryptocurrency market with fiat currency. There are numerous entry-level exchanges out there, including (but not limited to):