The exponential increase in crypto trading and conversion of digital assets has provided numerous cryptocurrency trading platforms new demography of customers. New users may find it difficult to navigate different companies and identify the ones they are interested in. The more options, the more factors must be considered when selecting the best platform. Safety, simplicity, terms, rights, and so on are just a few factors to consider before settling on a firm and platform of choice. Bitrue develops as a name that snatches its way into the most important financial markets.
What Is Bitrue?
Bitrue is a cryptocurrency exchange and digital asset management platform. It is one of the exchanges suggested by Ripple for the crypto trading platform and XRP trades. Bitrue is a one-stop shop where customers can buy/sell, exchange, deposit/draw crypto, and blockchain-based digital assets. Bitrue is a one-stop trading platform with a reputation for transaction speed.
It is also one of the first exchange(s) to provide loans supported and backed by crypto and blockchain technology. This is an unrivaled method for cryptocurrency lovers. Bitrue fosters confidence and a sense of safety in the individuals who utilize this trading platform with their trust token across five continents. Previously, cryptocurrency exchanges dispersed their functionality over many applications, but Bitrue puts it all together.
Bitrue’s Key Features
- It provides more rewards than the majority of its competitors. Trading commissions for different transactions are also among the lowest in the business. It is also one of the first cryptocurrency exchanges to provide a crypto loan, with a projected annual percentage rate of 15%. Allows consumers to earn interest in cryptocurrency using their Power Piggy service/product.
- You may now use the assets you monitor on most other exchanges to earn more by joining the Bitrue community. Ripple Labs’ recommendation is unquestionably a vast ‘go-ahead’ for newcomers setting up their Bitrue account. BTR lockups are also available for holding digital cash.
Bitrue Review: Easy Registration Procedure
It’s a pleasant experience, to begin with, the ideal exchange for your unique needs. New users can join up/register by providing their email address and phone number.
Your Bitrue account’s security depends on a two-step authentication method that strives to preserve the history of each transaction and other key information and control tools. Credit card deposits and other online money transfer techniques are the key two options for depositing digital funds and investments.
Is Your Account Safe?
The company claims that user safety and information confidentiality are primary concerns. You may also utilize Bitrue’s multi-signature cold wallet to boost the security of your funds. When it comes to the security rating, third-party opinion is inconclusive. Some reviewers say it’s an excellent buy, but others say you should keep looking.
However, several of the system’s weaknesses have been exploited in the past, even though the exchange remained afloat and recovered owing to its popularity and unique characteristics.
After the bank was hacked in 2019, resulting in a loss of over $4 million, the brand is attempting to raise its security and safety standards. They briefly shut the exchange down until the implicated accounts were closed and authorities intervened. Since the incident, the exchange has promised to evaluate its regulations and update its safety processes.
Bitrue Mobile App Review
The Bitrue trading platform, like the vast majority of other exchanges, features a mobile app. The software is available in the mobile app stores for Android and iOS devices. The Bitrue software allows you to maintain a trustworthy and tight relationship with your assets, including cold wallets and bitcoin currency.
Following the web-based functionality, mobile apps may swap Bitcoin, USDT, XRP, Ethereum, Litecoin, and dozens of other cryptocurrencies. One may also stay up with the newest news regarding their highly volatile and digital assets by using a platform with a highly responsive and seamless user interface.
Bitrue, like other exchanges, provides an API for individuals who wish to study the data in their way. API stands for Application programming interface, and it may communicate a string of any data between two devices.
How Does Bitrue Work for Buying and Selling Cryptocurrency?
Any purchase transaction is a basic procedure. Users may purchase mobile phones using either the website or the app. After logging into your Bitrue account, you can select the cryptocurrency you want to buy.
Users may use their credit cards to purchase bitcoin on Bitrue, which you will receive in your wallet within an hour. The cost is 3.5% of the transaction amount or $10, whichever is greater. In other words, if you are a high-volume trader, you will most likely pay 3.5%.
Selling, like purchasing, is an intuitive activity. You may pick the ones you want to sell and start the transaction from your app. The exchange rate may fluctuate, so double-check your trade pairings and crypto-assets. When it comes to buying and trading on Bitrue, the XRP community is among the most active.
How To Borrow Bitcoin From Bitrue?
Bitrue provides a blockchain-based digital loan guaranteed by cryptocurrency. Borrowing bitcoin on the platform will display in your best crypto wallet. Consider this a wire transfer backed by crypto. See the most popular bitcoin lending sites. Because digital lending is the most popular service offered by the crypto exchange, it provides a variety of transaction ways. Borrowing Bitcoin is a simple and convenient process with multiple payment methods and no delivery date.
Bitrue Review: Fees And Other Charges
Bitrue trading platform provides a variety of cryptocurrency trading capabilities while maintaining very competitive trading cost structures. Fees for the most popular trading pairs are 0.2%, while more flexible payment methods, such as ETH and USDT trading pairings, are charged a 0.098% cost. The XRP trading costs differ depending on whether you use BTR for transaction fees. In that instance, the exchange provides substantial reductions in trading expenses.
The withdrawal charge is lower than the global average. For example, BTC is 0.0005 BTC, while the withdrawal fee for DASH is 0.002 DASH. This platform does not accept fiat money deposits.
Traders may now transfer their desired quantities without worrying about the business revenues that exorbitant costs may reduce. It also includes the ability to conduct as many transactions as necessary between the different currencies. Another bonus is that XRP withdrawals are free of charge. This exchange does not levy separate fees for producers and takers. Keep in mind that fees are always changing in the industry.
Bitrue Review: BTR Token
The Bitrue Coin, abbreviated BTR, is the native cryptocurrency of the Bitrue platform and exchange. This native coin has been improved and works on the XRP network. Because XRP is highly scalable and efficient for payments, the brand’s choice to switch from ERC-20 may provide an additional benefit. You may use cryptocurrencies to make any payment on the exchange, but BTR is the most efficient and ideal.
What is Customer Service at Bitrue Like?
Customers may contact the support team by email, Twitter, Telegram, or Facebook. The website features various automated pages and parts to resolve functioning difficulties and address basic concerns. With a comprehensive help center, the website may serve as a step-by-step tour for the majority of the features and settings that users may come to utilize. One issue to consider is that consumers have reported delayed answers from the staff owing to a large number of its users.
Bitrue Review: Final Verdict
Bitrue trading platform is a well-known cryptocurrency exchange that provides many services while keeping fees cheaper than most other exchanges. It is one of the finest options if you’re crossing off your crypto platform list. With features like Power Piggy and bitcoin lending, you’ll always have a few extra alternatives if you need them in the future.