UPDATE 17 February 2020: This exchange was hacked on 17 February 2020. This was announced by the company through the below message. It is possible that the exchange will survive this, but for the time being, we have marked it as "dead" 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 Vbitex consists of four parts: general information, fees, deposit methods and security.
Vbitex is a cryptocurrency exchange that launched in 2017, domiciled in the Seychelles.
We are not entirely sure what the below picture means, but we think it means that the trading platform is available both as a mobile application for iPhones and Android, and as a desktop client for Windows and Mac-computers.
To our knowledge, US-investors can utilize the services offered by Vbitex. But, US-investors should always try to figure out themselves whether there are any problems arising from their trading at one or several international cryptocurrency exchanges.
Vbitex 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. At this exchange, there is only order boxes and a small price chart window, as set out below. This makes it easily understandable for new crypto investors, while it might lack some features that more experienced traders look for. The below is a picture of the somewhat limited trading view at Vbitex:
Vbitex Trading fees
Trading fees are naturally very important. Every time you place an order, the exchange charges you a trading fee. The trading fee is normally a percentage of the value of the trade order.
At this exchange, they don’t divide between takers and makers. Each party to a transaction carried out on Vbitex pays the same fee: 0.10% of the order value. This is a low fee and it is substantially below the historic global industry average (being 0.25%).
Vbitex Withdrawal fees
We have not been able to find any information on this exchange’s withdrawal fees. This is potentially a risk for you as an investor. Whenever an exchange does not inform of a fee, there is a higher risk that such fee is high. Accordingly, we strongly urge you to make your own analysis of the withdrawal fees here before depositing any funds here.
This exchange does not accept any other deposit method than cryptocurrencies, so new crypto investors are restricted from trading here. If you are a new crypto investor and you wish to start trading at this exchange, you will have to purchase cryptos from another exchange first and then – as a second step – deposit them here. Don’t worry though, you can find a so called “entry-level exchange” simply by using our Exchange Finder tool.
We run all the exchange-websites in Mozilla’s Observatory-test (https://observatory.mozilla.org/). The score in such test is one of many indicators of the exchange’s security. Vbitex received an F- score in this test. This should however be viewed in light of the fact that F is the Mozilla Observatory-score received by the majority of all exchanges in our Cryptocurrency Exchange List.
Low trading fees are indeed very important for any prospective cryptocurrency investor. All of the following exchanges also – like the above exchange – have very low trading fees (some of them don’t even charge trading fees at all):