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 CHBTC consists of four parts: general information, fees, deposit methods and security.
PLEASE NOTE THAT THIS EXCHANGE WILL TERMINATE ALL OF ITS ACTIVITIES ON 7 OCTOBER 2018.
CHBTC is a Chinese cryptocurrency exchange. One of many other exchanges from China that you might be interested in if this exchange is not to your liking is BTCTrade.im.
Unfortunately for US-investors, the exchange prohibits US-investors from trading on its exchange. So if you are a US-investor and want to trade at this exchange, you’ll have to reconsider your choice of trading venue and choose one of the other top crypto exchanges.
CHBTC Trading fees
Fees are naturally very important. CHBTC offer flat trading fees, meaning that it charges both takers and makers the same fee. The trading fee is 0.20%. For investors who prefer to pick-up existing orders from the order book, this might be an attractive trading fee model.
CHBTC Withdrawal fees
This exchange charges a withdrawal fee amounting to 0.001 BTC when you withdraw BTC. This is in line with industry average.
This exchange 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. However, as the exchange accepts deposit of fiat currencies at all, it distinguishes itself from many exchanges that only allows deposits in cryptocurrencies.
Security is an important feature to consider when deciding which exchange that is the best cryptocurrency exchange site for you. CHBTC’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 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):