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 FatBTC consists of four parts: general information, fees, deposit methods and security.
FatBTC is one of the many Hong Kong cryptocurrency exchanges. There are loads of coin exchanges from Hong Kong. Hong Kong is in a way the Mecca of cryptocurrency trading. A large, but not complete, list of competitors to this exchange on its home turf includes Binance, Bit-Z, KuCoin and BitFlip.
The exchange offers its user interface in multiple languages: Chinese, Chinese (Simplified), English Español, Tiếng Việt, Русский, Português. You can also easily switch the language from the upper right corner of the exchange’s website.
The platform is also available to use on your smart phone or reading tablet. All you need to do is to download the application to your iOS-device or Android-device and then start trading.
US-investors may not trade here. There are many things making it complicated for non-US cryptocurrency exchanges to accept traders from the US. First and foremost, it’s the US’ legal regime. The US-legal regime imposes burdensome obligations on many companies accepting funds from US-investors. Such obligations include, inter alia, preparing marketing material in accordance with SEC-standards and registering them with the SEC (which is a very burdensome process). If you’re from the US, you shouldn’t be too sad though. Use our Exchange Finder to find a US-friendly exchange for you.
FatBTC 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 FatBTC:
FatBTC Trading fees
This specific exchange charges its fees on a “flat” basis. This means that they do not have different fees for takers or makers. Both parties in a trade needs to pay the same fee. FatBTC’s flat fee is 0.20%. 0.20% is slightly below the global industry average.
However, compared to its Hong Kong domestic counterparts, 0.20% is actually a bit above industry average. This is because Hong Kong exchanges typically charge lower trading fees than exchanges from other countries.
FatBTC 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 pay with Bitcoin in real life. In order to do so, 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.
FatBTC doesn’t do this however. They charge a withdrawal fee of 0.0005 BTC when you withdraw BTC. This is substantially below the global industry average of 0.000812 BTC. To see the withdrawal fees also for a few cryptocurrencies than BTC, please see the picture below (wihtdrawal fees in the blue box):
As is evident from the above picture, FatBTC also does not charge any deposit fees for deposits of cryptocurrencies.
FatBTC offers wire transfer as a deposit method, but you can’t deposit via credit card. The fact that FatBTC offers you the opportunity to deposit fiat currency at all makes it what we call an “entry-level exchange”.
There are many aspects relevant to consider when determining an exchange’s security. One such aspect is Mozilla’s Observatory-test (https://observatory.mozilla.org/). FatBTC only received an F-score in this test. This is actually the most common grade among the exchanges listed in our Cryptocurrency Exchange List, but it does show that there is at least some room for improvement for this trading platform.
Liquidity is something very important for all exchanges, cryptocurrency exchanges but also regular stock market exchanges. The above exchange does indeed have great liquidity. However, the following 10 cryptocurrency exchanges are also regularly among the cryptocurrency exchanges with the absolutely best liquidity in the world: