Instant BitexUnited Kingdom
US investors permitted
Instant Bitex – Detailed review
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 Instant Bitex consists of four parts: general information, fees, deposit methods and security.
Instant Bitex is a coin exchange from the United Kingdom. United Kingdom is the country which without a doubt has the most cryptocurrency exchanges in the world. At least that we know of. A non-exhaustive list of exchanges from the UK (in addition to this one) includes Exmo, CEX.io, CoinEgg, Livecoin, DSX, LocalTrade, Bittylicious (funny name by the way), CoinMate, Indacoin, MixCoins, Paybis, Vaultoro and eToro.
The company running the exchange is INSTANT BITEX LIMITED (company number 11353300). The registered address of this company (Kemp House, 160 City Road, London, United Kingdom, EC1V 2NX) is also presented at the website. This adds legitimacy to the exchange.
As far as we can tell, Instant Bitex also welcomes US-investors.
Instant Bitex is a smaller cryptocurrency exchange. It has slightly more than 1,000 registered users and has completed deals with an aggregate trading volume since inception amounting to slightly more than 127 BTC. These numbers are of course impressive, but compared to the market leading cryptocurrency exchanges having a daily trading volume far north of 100,000 BTC, the numbers are absolutely microscopic.
Instant Bitex doesn’t charge different fees between takers and makers. Their fee model is instead something called a “flat fee model”. Instant Bitex has a flat trading fee of 0.10%. The industry average is arguably around 0.25% so Instant Bitex definitely have competitive trading fees.
Over to the withdrawal fees then. These are also very important to consider. When withdrawing BTC, Instant Bitex charges you 0.0005 BTC. This withdrawal fee is also far below the industry average.
All in all, the fees charged at this exchange is a competitive advantage against most other cryptocurrency exchanges out there today.
Instant Bitex does not accept any deposits of fiat currency. This means that new cryptocurrency investors (i.e., investors without any previous holdings of cryptocurrencies) can’t trade here. In order to purchase your first cryptocurrencies, you need a so called entry-level exchange, which is an exchange accepting deposits of fiat currency. Find one by using our Exchange Finder!
Instant Bitex’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.
If you have concluded that this is the exchange for you, congratulations! Go for it. But if not, find the best cryptocurrency exchange site for you by using our revolutionary matching tool.