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 BW.com consists of four parts: general information, fees, deposit methods and security.
BW.com is an exchange that launched in January 2017, which is way before the global cryptocurrency hype. It has a very impressive liquidity and is regularly among the top 10 exchanges with respect to 24 hour trading volume.
The domicile country of this exchange is Australia. Australia has its fair share of cryptocurrency exchanges, and the list includes: BitRabbit, CoinSpot, BTC Markets, CoinJar, Independent Reserve, ACX and CoolCoin.
As many other exchanges, BW.com does not accept US-investors on its platform. If you’re from the US and you’re looking for the trading platform that is just right for you, don’t worry. Use our Exchange Finder to find an appropriate exchange accepting US-investors.
BW.com also offers its platform in the form of a mobile application, available for both iPhone and Android users (i.e., available for download from both the App Store and Google Play).
On the day of first writing this review (27 March 2019), BW.com’s 24 hour trading volume was an extremely impressive USD 830 million, which placed in on place no. 5 on the list of the exchanges with the highest 24 hour trading volume in the world (surpassed only by Binance, Bit-Z, OKEx and Coinbene higher up on the list). On 13 June 2019, the 24 hour trading volume had dropped a little to USD 673 million (placing it on place no. 23 on the list), but it was still nothing but a very impressive trading volume.
However, on the date of last updating this review (31 March 2020, right in the middle of the crisis with COVID-19), the trading volume was only USD 81.3 million. The place on Coinmarketcap's list was then only a very modest place no. 77.
BW.com 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. This is the trading view at BW.com:
BW.com Trading fees
Trading fees are naturally very important. Every time you place an order, the exchange charges you a trading fee. The trading fee is normally a percentage of the value of the trade order. At this exchange, they don’t divide between takers and makers. Each party to a transaction pay the same fee: 0.20% of the order value. 0.20% is in line with the industry average. Industry average has for a long time been 0.25%, but we are currently seeing a shift towards lower fees. Many exchanges now charge e.g. 0.10% or 0.15% instead.
BW.com Withdrawal fees
Many exchanges have competitive trading fees but then hit you on the way out with their withdrawal fees. BW.com charges a withdrawal fee amounting to 0.001 BTC when you withdraw BTC. This is slightly above the industry average, which is 0.000812 BTC per BTC-withdrawal.
This exchange does not accept any other deposit method than cryptocurrencies, so new crypto investors are restricted from trading here. If you are a new crypto investor and you wish to start trading at this exchange, you will have to purchase cryptos from another exchange first and then – as a second step – deposit them here. Don’t worry though, you can find a so called “entry-level exchange” simply by using our Exchange Finder tool.