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 BTCBox consists of four parts: general information, fees, deposit methods and security.
BTCBox is a Japanese cryptocurrency exchange. The land of sushi and ninjas not only has an impressive cultural heritage, they also have plenty of cryptocurrency exchanges. There are too many to mention here, but one other very popular Japanese cryptocurrency exchange is Bitbank.
BTCBox does not expressly forbid US-investors from trading on its exchange. Regardless, all US-investors should do their own independent assessment of any problems arising from their residency or citizenship. In a worst-case scenario, they may not be able to trade at one or several exchanges that could be the best cryptocurrency exchange site for them (maybe including this one).
BTCBox Trading fees
There are a number of top crypto exchanges that don’t charge different fees between takers and makers. Usually, you say that such exchanges’ trading fees are “flat”. BTCBox is one of those exchanges. BTCBox offers a flat trading fee of 0.20%. For investors who prefer to pick-up existing orders from the order book (instead of “going fishing” in the order book), this might be an attractive trading fee model. As the industry average fee levels are around 0.25%, BTCBox’s fee level is slightly below average.
BTCBox Withdrawal fees
BTCBox charges a withdrawal fee amounting to 0.001 BTC when you withdraw BTC. This is in line with industry average.
BTCBox offers wire transfer as a deposit method, but you can’t deposit via credit card. This of course negative news to you if you would prefer to use your credit card for any reason.
Security is very important when it comes to cryptocurrency exchanges. Why? Well, 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!
The security test we perform is based on 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.
BTCBox’s security score is F, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is the lowest grade, and 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):