US investors permitted
OOOBTC – 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 OOOBTC consists of four parts: general information, fees, deposit methods and security.
OOOBTC’s domicile country is unclear. This is not a red flag per se, but we recommend all visitors to be careful and form their own opinion on whether OOOBTC is a legitimate exchange our not.
We have not been able to find any information stating that US-investors can’t trade at this exchange. That doesn’t necessarily mean that they can though. We urge any US-investors interested in trading here to form their own opinion on any issues arising from their citizenship or residency.
OOOBTC doesn’t charge different fees between takers and makers. Their fee model is something we normally call a “flat fee model”. Their flat fee is 0.15%. This means that if you’re a taker in an order, you pay 0.15%. If you’re a maker in an order, you also pay 0.15%. 0.15% is generally lower than the global industry average.
OOOBTC has a percentage based withdrawal fee, meaning that they charge you a percentage of the withdrawn amount when you withdraw. Their percentage charged is 0.50%.
This is an unusual withdrawal fee model, but it is not unheard of. Most exchanges have a fixed withdrawal fee, regardless of the size of the withdrawn amount. In addition to this exchange, only the following have percentage based withdrawal fees (from lowest to highest): SouthXchange (0.04%), FatBTC (0.05%), ExcambioRex (0.10%), Gocio (0.10%), BitINKA (0.15%), RippleFox (0.20%), ChaoEx (0.50%), BCEX (0.50%), DOBI Trade (0.50%), LEOxChange (1.00%), Trustdex (1.00%) and FreiExchange (2.00%).
With the fee model that this exchange has, when you withdraw small amounts, it is beneficial to you. If you withdraw 0.01 BTC, the withdrawal fee becomes 0.00005 BTC (very low). However, if you withdraw 10 BTC, the withdrawal fee becomes 0.05 BTC (absurdly high). Please consider whether this withdrawal fee suits your own trading or not.
OOOBTC 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!
OOOBTC’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.
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.