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 GetBTC consists of four parts: general information, fees, deposit methods and security.
UPDATE 16 July 2019: GetBTC have posted a message on its website stating that they are trying to have the project “reborn”. We are not sure what this means but we will update here as soon as we know more.
GetBTC is a cryptocurrency exchange registered in the country of Saint Vincent and the Grenadines. For being a nation with a population of only 110,000, Saint Vincent and the Grenadines has a surprisingly high number of cryptocurrency exchanges: 3. In addition to GetBTC, Unichange and STeX are also registered here. However, it seems as if the team behind the exchange is Russian as the text on the site is in cyrillic letters on a few places. The entire site is also available in Russian and Vietnamese (in addition to English).
The exchange does not list US-investors as prohibited from trading, but US-investors should still do their own assessment of any problems arising from their residency or citizenship.
As you might suspect from its name, you can only “get BTC” here. If you want to trade the less popular coins (1World Coin, Cryptonex Coin, Neutron Coin, Pareto Network Token, Social Send Coin or any coin with a similar market capitalization to those), you’ll have to look elsewhere.
GetBTC 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 GetBTC:
GetBTC Trading fees
This crypotcurrency trading platform doesn’t charge different fees between takers and makers. Their fee model is a “flat fee model”. Their flat fee is 0.20%. This is slightly below industry average and is accordingly a slight competitive advantage for GetBTC.
GetBTC Withdrawal fees
This exchange charges a withdrawal fee amounting to 0.0035 BTC when you withdraw BTC. This is in line with industry average (although a bit on the high end).
At this cryptocurrency exchange, you can deposit through both wire transfer and credit cards. This can be helpful especially for newer crypto investors.
One should generally look out for the different deposit fees charged by exchanges for deposit of fiat currencies via wire transfer or credit cards, and whereas it might be indifferent to you whether you should deposit via wire transfer or credit card, it might be very different fees. Some exchanges charge a deposit fee of up to a staggering 11% for credit card deposits.
GetBTC’s security score is C-, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is in line with industry average when it comes to top crypto exchanges.
As mentioned above, this exchange supports credit card deposits (alone or through the use of any of its associated payment service providers). Other cryptocurrency exchanges that also have this option include: