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.
UPDATE 1 November 2020: The website of GetBTC is still not available. It seems as if the rebirth project was unsuccessful. Accordingly, we have marked the exchange as "dead" in our database and moved it to our Exchange Graveyard.
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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.
GetBTC is a cryptocurrency exchange registered in the country of Saint Vincent and the Grenadines. 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 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
GetBTC's withdrawal fee is 0.0005 BTC per BTC-withdrawal. This fee is a bit below the industry average. The global industry average BTC-withdrawal fee the last time we at Cryptowisser did a full-blown empirical study of it was approx. 0.0008 BTC per BTC-withdrawal. But today, we see more and more exchanges charging 0.0005 BTC per BTC-withdrawal, so one could argue that 0.0005 BTC is starting to become the new industry average.
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.