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 BTCX consists of four parts: general information, fees, deposit methods and security.
BTCX does not 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 otherwise be the best cryptocurrency exchange site for them.
BTCX Trading fees
Always check the fees. That is one of the most important rules when picking an exchange.
BTCX is different from most top crypto exchanges in the way that it does not offer trading between cryptocurrencies. The only service offered is buying BTC or ETH. When buying BTC or ETH from the exchange, the purchase price offered by BTCX is usually higher than the market price and the exchange profits that way. The mark-up or mark-down is not specified anywhere. This is potentially a risk for you as an investor. Accordingly, we strongly urge you to make you own analysis of the fees and price differences at this exchange before executing any transactions there and before concluding that this exchange is the best cryptocurrency exchange site for you.
BTCX’s service is incredibly fast and the purchase will be executed within 3 minutes (provided that your weekly purchases are not to a higher value than approx. 700 USD).
BTCX Withdrawal fees
Seeing how this exchange conducts its operations, withdrawal fees are not relevant (they can be deemed to be included in the exchange’s markup).
This trading platform 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 flex your credit card for any reason. Airline points or whatever.
This exchange’s security score is B, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is far above average when it comes to top crypto exchanges and could also be a factor making you conclude that this exchange is the best cryptocurrency exchange site for you.
There are only a few exchanges that – like the above exchange – receive Mozilla Observatory-scores of B or higher. The following list includes 10 such exchanges with very impressive security scores: