Bitrue is a crypto exchange that was launched in early 2018. The exchange is registered in Singapore, and has users from more than 80 countries and offices in the United States, Singapore, Taiwan, and Europe.
The exchange defines its mission in three words: "Security, Speed, and Simplicity," as seen on their website. The exchange initially gained significant support through the introduction of the underlying XRP market, which was very popular with enthusiasts promoting the exchange.
Bitrue remains true to its early venture and continues to maintain and develop its underlying XRP market, making it probably the number one exchange in terms of liquidity for traders who prefer to trade assets against XRP as a base.
A team consisting of CEO Kuris Wang and a total of 8 people who previously worked at Telecom. The rest of the team mostly also worked at Cheetah Mobile - the same company where the CEO worked.
The exchange supports trading in a decent number of currencies. Even though the exchange was a newcomer to the industry just a year ago, today the volume of daily trading is constantly growing, and it describes itself as a "young and reliable cryptocurrency exchange".
The site is relatively responsive and accessible, the support team responds quickly, and there is no need for an initial KYC to start depositing cryptocurrency and trading. However, there is a lack of English on the Bitrue website and in the customer support service, and there are problems communicating with the exchange or understanding some of its functions, as their explanations are not too clear, since most if not all of the exchange team is of Chinese origin and is more focused on the Chinese audience.
As for the trading functions, the platform offers:
- Real-time charts
A convenient option for experienced traders with a live chart that documents the prevailing bets on various combinations.
- Mobile App
Bitrue has focused on its accessibility and convenience to its customers, as it offers services around the world in multiple languages as the interface languages of the website and mobile app. The mobile app can be downloaded from the App Store or Android for those who prefer to trade on the go. It offers a wide variety of coins to trade, with high and low caps, but the liquidity between the pairs varies greatly.
- Power Piggy
Power Piggy allows users to gain interest in their cryptocurrency, will provide them with more income. Power Piggy provides 7.3% per annum for storing your coins on its platform, which is close to the incentives for XRP holders.
- Bitrue Coin (BTR)
BTR (Bitrue Coin) is a coin for a proprietary token network project provided by Bitrue.
Margin trading is not supported.
The exchange stands out for its low fee structure with a fixed trading fee of 0.098%. The 0.0005 BTC withdrawal fee is also below the industry average, which is a convenient asset for the exchange.
Currently, the platform does not accept deposits in fiat currency. This means that new cryptocurrency investors cannot trade here.
To buy your first cryptocurrency, you need a so-called entry-level exchange that accepts deposits in fiat currency.
The exchange claims to stand out for its stability and security. The Bitrue architecture uses a multi-level and multicluster system. The platform is also secure thanks to its dual authentication system and a cold wallet for storing digital assets, allowing for multiple signatures.
- To own your crypto assets, you need to manage your own private keys.
- Ledger hardware wallets make private key management easy and secure.
- Each unique 24-word recovery phrase creates a new set of private keys.
- Make sure you secure your 24-word recovery phrase properly.