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 Bter consists of four parts: general information, fees, deposit methods and security.
PLEASE NOTE THAT THIS EXCHANGE IS CURRENTLY CLOSED. THE EXCHANGE FORMERLY OPERATING AT THE DOMAIN BTER.COM HAS NOW BEEN TAKEN OVER BY GATE.IO.
Bter is a cryptocurrency exchange registered in the British Virgin Islands. This exchange is not the only cryptocurrency exchange with registered offices in the British Virgin Islands. It is not the only exchange registered in the British Virgin Islands, also the very prominent derivatives exchange Bybit is registered here (and not so prominent Infinity Coin Exchange).
This was initially one of the Chinese cryptocurrency exchanges and many early crypto investors still consider it as a Chinese cryptocurrency exchange site. The exchange does not expressly prohibit US-investors, but 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.
Bter 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 Bter:
Bter Trading fees
This is one of the cryptocurrency exchanges who do not charge different fees between takers and makers. Usually, you say that such exchanges’ trading fees are “flat”. Bter offers a flat trading fee of 0.20%. The exchange does accordingly not care about whether you are a taker or a maker. 0.20% is slightly below the industry average which is arguably around 0.25%. Bter’s fees thus constitutes a competitive advantage against the majority of other top crypto exchanges in the market and maybe even makes this exchange the best cryptocurrency exchange site for you.
Bter Withdrawal fees
Many exchanges have competitive trading fees but then hit you on the way out with their withdrawal fees. Let’s say you have reached your investment goals and you are looking to buy house with bitcoin. In order to buy that house, you need to withdraw the funds. And when doing so, the exchange can make up for its low trading fees by charging you high withdrawal fees when you’re halfway out the door.
We have not been able to find the withdrawal fees of this exchange. 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, you must make your own analysis of the withdrawal fees at Bter before depositing any funds at Bter.
Bter 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.
Bter’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.
The exchange reviewed above had, when open, a large number of supported cryptocurrencies. If a large number of supported cryptocurrencies is an important factor for you in your choice of cryptocurrency exchange, you could also check out the following exchanges: