Bitrue

Bitrue Exchange Review – Introduction

Bitrue is a medium-sized crypto exchange mainly suitable for experienced investors. The platform has been operating since 2018, has very good volume and liquidity, lots of altcoins, and extra features that make it a great alternative to bigger players in the market.

In our Bitrue review below we’ll take a look into all features, deposit and withdrawal methods, fiat and crypto trading fees, safety aspects, and other factors. In the end, you’ll know everything you need to know about this platform and whether it’s suitable for you.

Is Bitrue Good For…

First time buyers:

Even beginner investors can use the exchange, and it’s generally no more complex to use than any of the others. You can purchase your first Bitcoin or choose from more than 800 altcoins on the platform.

For fiat deposits, Bitrue only uses 3rd party fiat gateway services. Bank transfers, debit and credit cards, Google Pay, Apple Pay, and many additional local payment methods and wallets are supported by these fiat gateways.

Aside from requiring a separate KYC, the biggest downside to using these 3rd party services are high fees. You can expect fees from 3.5% and even higher than 5% in some cases, depending on your payment method and location. For first-time buying or when every penny counts, you can find cheaper exchanges. Otherwise, using Bitrue’s partnered gateways is safe and convenient.

For crypto traders:

On Bitrue, you can trade Spot or Futures markets, making it suitable for both long-term investing and day trading. User interface may not be satisfactory to traders with high demands, but the fees are very cheap. Let’s explore both!

Trading interface

Bitrue doesn’t provide any quick-conversion interface, so users can only trade tokens through a standard spot trading interface. Fortunately, Bitrue’s spot trading works the same way as every other exchange, and will be immediately familiar to anyone who traded crypto before.

You can place standard limit, market and trigger orders. More advanced orders such as iceberg or TWAP are not available on this exchange. The user interface allows for almost no customization, so you will not be able to resize, remove or move various panels. Occasional traders might not care anyway, but those who trade crypto on a daily basis may find the lack of customization disappointing.

On spot, you can also trade leveraged tokens, or even take out quick loans for increased position sizes. On futures, you can use up to 125X leverage on either Cross or Isolated margin mode.

Crypto trading fees

• On spot market, fees are 0.098% for both maker and taker orders (for all BTC, ETH or USDT trading pairs). This means you will always pay roughly 0.1% of the total buy or sell amount in fees. Compared to other exchanges, these fees are among the cheapest in the industry.
• On futures market, fees start at 0.02% (maker or minimum fee), up to 0.06% (taker or maximum fee). Compared to other derivatives trading exchanges, these fees are also industry average.

Fees displayed above are default. You can reduce them further by paying in Bitrue’s native token BTR, or by obtaining VIP levels.

By using BTR to pay for trading fees, you can reduce all spot and futures trading fees by a whooping 20% flat. There’s no complex calculations or hidden print here: simply hold BTR in your spot account, and you get 20% trading fee discount.

Bitrue’s Best Features

Copytrading: You can copy positions from experienced traders through Bitrue’s copy trading interface, currently only available on Futures. You can choose from any of the hundreds of traders listed, and easily view their historical performance, assets under management, win rate, and other relevant information.

Launchpool: By staking BTR in the Launchpool section, you can earn occasional crypto airdrops. Holding BTR also has an additional benefit of reducing your trading fees, so you can maximize the value of your holdings by participating in launchpool airdrop events.

XRP trading pairs: Bitrue is the largest XRP trading pair platform. Ripple fans will love dozens of XRP trading pairs listed. For example, you can trade DOGE/XRP or TON/XRP, therefore ultimately stacking your XRP bags with trading profits.

Auto-Invest: By using auto-invest feature, you can automatically buy a specified amount of Bitcoin or altcoins on a schedule. Aside from regular spot trading fees, there are no additional fees or charges when using this feature. Auto investing is excellent for dollar-cost averaging and long-term investing, and your purchases can even be automatically deposited into staking vaults for passive income.

Staking: You can stake 40+ different assets to earn passive income. Many popular ones are available such as ADA, XRP, ETH, TRX, and others. Most staking is fixed duration, from 7 to 14 days, meaning your coins will be unavailable for trading while staking. Additionally, you can also stake coins without lockups in Bitrue’s Power Piggy, letting you earn additional rewards on over 100 altcoins.

Crypto loans: you can use dozens of major and even smaller altcoins as collateral to take out loans in USDT, BTC, XRP or ETH. This can provide you with increased capital for investing, but make sure to read the terms and details to understand the details and repayment fees.

Signup rewards: New users can receive over $1,000 in welcome bonuses. You can get $10 in cash for trading spot. Futures traders can claim up to $57 in trial funds. These trial funds can be used for trading, and profits can be withdrawn. Those who deposit over $100 can also claim $980 USDT trial funds usable for staking.

Is Bitrue a Safe Exchange?

• Launched in 2018, founded in Singapore, with company now based in Seychelles.
• Was hacked in 2019 ($4.2 million) and 2023 ($23 million). No customers lost funds.
• Uses cold wallets, but no details on ratio of funds in cold vs hot wallets, or specific security measures in place.
• Does not publish proof of reserves reports.
• Does not service customers from United States, Canada, Singapore, China, or sanctioned regions.
• Detailed company information, corporate structure and executive team isn’t easily accessible.
• Account security methods include 2FA through mobile number of Google Authenticator, additional PIN code for withdrawals, anti-phishing codes, and withdrawal whitelist.
• Usually in top 50-80 by trading volume on Spot, and within top 40 on Futures market.
• To compensate users for any potential losses, Bitrue has an insurance fund with 25 million XRP and 40 million BTR.
• Very few regulatory licenses and approvals (expected for no-kyc exchange). Has a VASP license in Poland since 2023, and most recently obtained VASP license in Lithuania.

In general, Bitrue isn’t considered the safest crypto exchange. Additional transparency into the company and its security and safety methods and policies would be welcome, while publishing proof of reserves would add additional confidence.

Account security is adequate to prevent common unauthorized account access, but could be further improved via customizable anti-phishing codes, passkey support, trading passwords, or similar methods.

Bitrue has suffered from hacks in the past, but reinforced its security as a result. While safety and trust could be improved, there’s currently no reason to be suspicious about this platform. There’s no evidence to suggest Bitrue is scamming users or misusing customer deposits in any way.

Conclusion – Is Bitrue a Good Exchange?

Bitrue has been a reliable partner to many crypto traders. This trading platform has been operational since 2018, and despite some issues it has persevered and survived.

To make the platform more suitable for newbies, cheaper direct fiat deposit methods would be welcome. On the other hand, experienced traders may also find some features lacking, such as advanced order types or customizable trading interface.

Bitrue is not as feature-packed as the biggest exchanges. However, it has copytrading, staking, loans, mobile app, copytrading, fiat deposits & withdrawals, and cheap spot and futures trading fees.

Anyone who needs a reliable no-KYC exchange with generous withdrawal amounts, cheap trading fees, and lots of altcoins should consider Bitrue.