US investors permitted
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 Vebitcoin consists of four parts: general information, fees, deposit methods and security.
Vebitcoin is another one of the Turkish coin exchanges. As you know if you’re from Turkey, Turkey has a surprisingly large number of cryptocurrency exchanges. Bithesap is one of them, but there are 7 others (in addition to Bithesap and Vebitcoin).
US-investors may probably trade here. However, as the site only comes in the Turkish language, foreign investors might actually find it quite difficult to trade here. This is why we have marked this exchange as “not suitable” for e.g. US-investors.
This exchange is owned by Turkish company Vebitcoin Teknoloji A.Ş. The circumstance that the name of the owning company is listed on the website of the exchange doesn’t make it “scam-proof”. But it does provide some level of comfort at least.
Vebitcoin Trading fees
This trading venue offers a flat trading fee of 0.15%. This means that the exchange does not distinguish between takers and makers. For investors who prefer to pick-up existing orders from the order book, this might be an attractive trading fee model. 0.15% is also below both the global industry average and the domestic industry average. Domestically, looking only at the 9 Turkish cryptocurrency exchanges we list on our site, the average taker trading fee is namely 0.27%.
Vebitcoin Withdrawal fees
At this exchange, they charge you 0.001 BTC every time you withdraw BTC. This fee is not painfully high, but not particularly low either. One could argue that it is in line with the global industry average.
This exchange offers wire transfer as a deposit method, but you can’t deposit via credit card.
We run all 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. This particular cryptocurrency exchange site only received an F-score in this test. This is below industry average and is thus not a competitive advantage at all for this exchange.
The exchange reviewed above is what we call an “entry-level exchange”. This means that this exchange also makes it possible for someone to enter the cryptocurrency market with fiat currency. There are numerous entry-level exchanges out there, including (but not limited to):