The exponential increase in crypto trading and conversion to digital assets has provided numerous cryptocurrency trading platforms a new demography of customers. As new users, they may find it difficult to make their way through different companies and identify the ones they are interested in. The more options there are, the more factors one must consider when selecting the best platform for themselves and their purposes. Safety, simplicity, terms, rights, and so on are just a few of the factors to consider before settling on a firm and platform of choice.

Bitrue develops as a name snatching their way into the most important financial markets. And, like any other complex online platform, it requires a quick and comprehensive Bitrue exchange assessment. So, to begin, let’s take a short look at this Singapore-based cryptocurrency platform.

BITRUE OVERVIEW

Official Website https://www.bitrue.com/
Headquarters Singapore
Year Established 2018
Native Token BTR Token
Pairs 1155
Coins 561
Margin Trading Yes
Fees 0.098%
Minimum Deposit None
Deposit Fees None
Customer Support Submit a request form & FAQs
Application iOS and Google Play

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Recognizing Bitrue

Bitrue is a crypto exchange as well as a 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/withdraw crypto and blockchain-based digital assets using their Bitrue accounts. Bitrue is a one-stop trading platform with a reputation for transaction speed.

Bitrue is also one of the first exchange(s) to provide loans that are supported and backed by crypto and blockchain technology. This is an unrivaled method for crypto aficionados. Bitrue fosters confidence and a sense of safety in the individuals who utilize this trading platform with their trust token across five continents. Previously, crypto exchanges dispersed their functionality over many applications, but Bitrue consolidates everything into a single platform.

Is Bitrue a legal and regulated company?

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Bitrue, like other crypto exchanges, claims to operate inside the borders of its registered country, Singapore. The company’s website has been hacked, yet it remains functioning and competitive, with over 4.2 million user accounts. Security experts believe that security should be improved.

Individuals can trade in Europe, the United States, Japan, Canada, and a few more countries. One thing to keep in mind is that, despite the brand’s large network of trust tokens, certain of its unique or remarkable features may not be as regulated.

Key Features

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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 crypto exchanges to provide a crypto loan, with a projected annual percentage rate of 15%. Allows consumers to earn interest on their crypto by using their Power Piggy service/product.

The assets you monitor on most other exchanges may now be used to earn more by joining the Bitrue community. Ripple Labs (the organization that produced the XRP cryptocurrency) is surely a huge ‘go-ahead’ for newbies who are setting up their Bitrue account. There is also the possibility of BTR lockups for holding digital cash (however, fiat currencies depository is not supported).

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 is based on a two-step authentication method that strives to preserve the history of each transaction as well as 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 it safe to use?

The company claims that user safety and information confidentiality are primary priorities. 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 divided. 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, despite the fact that the exchange remained afloat and recovered owing to its popularity and unique characteristics.

Was the Bitrue account previously hacked?

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. The exchange was briefly shut 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 protocols.

The Bitrue Mobile App

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 both Android phones and iOS devices. The Bitrue software allows you to maintain a trustworthy and tight relationship with all of your assets, including cold wallets and bitcoin currency.

Following the web-based functionality, mobile apps may also exchange 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.

Like other exchanges, provides an API for individuals who wish to study the data in their own way. API stands for Application programming interface, and it may communicate a string of any data between two devices.

How Do I Buy and Sell Cryptocurrency?

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Buying

Any purchase transaction is a basic and straightforward procedure. Users may buy mobile phones using either the website or the app. After logging into your Bitrue account, you can simply select the cryptocurrency you want to buy. The exchange offers a variety of cryptocurrencies and other blockchain-based assets that you may buy from your account.

Users may use their credit cards to purchase bitcoin, and it will be transferred in your wallet within an hour. The fee is 3.5% of the transaction amount or $10 USD, whichever is greater. In other words, if you are a high-volume trader, you will most likely pay 3.5%.

Selling

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 pairs and crypto-assets. When it comes to buying and trading, the XRP community is among the most active.

How Does Bitrue Borrow Bitcoin?

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Bitrue provides a blockchain-based digital loan guaranteed by crypto. Interest rates are expected to be about 15%. Borrowing bitcoin on the platform will be displayed in your best crypto wallet. Consider this a crypto-backed wire transfer rather than a standard bank transfer (traditional wire transfers are not supported). For additional information, see the most popular bitcoin lending sites.

Because digital lending is the most popular service offered by the crypto exchange, it offers a variety of transaction ways. Borrowing Bitcoin is a simple and convenient process with multiple payment methods and no delivery date.

Fees

Bitrue trading platform provides a variety of cryptocurrency trading capabilities while maintaining very competitive trading fee structures. Fees for the most common trading pairs (such as XRP/BTC, XPR/USDT, and XRP/ETH) are 0.2%, while other flexible payment methods, such as ETH and USDT Trading pairs, are charged a 0.098% fee. The XRP trading costs differ depending on whether BTR is used for transaction fees. In that instance, the exchange provides substantial reductions on trading expenses. The withdrawal fee is lower than the global average. For example, the withdrawal fee for BTC is 0.0005 BTC, while the withdrawal fee for DASH is 0.002 DASH. This platform does not accept fiat money deposits. In contrast to the worldwide average, this is a respectable figure.

Traders may now transfer their desired sums (in a wide range) without worrying about the business earnings that hefty charges may reduce. It also includes the ability to conduct as many transactions as necessary between the different currencies. Another added bonus is that XRP withdrawals are free of fee. This exchange does not levy separate fees for producers and takers. Keep in mind that fees are always changing in the industry. It is strongly advised to review the facts on its official website to learn the entire fee structure.

Details about the BTR Token

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The Bitrue Coin, abbreviated BTR, is the native cryptocurrency of the Bitrue platform and exchange. This native coin has been improved and is now built on the XRP blockchain. Because XRP is extremely scalable and efficient for payments, the brand’s choice to switch from ERC-20 may provide an additional benefit. Crypto currencies may be used to make any type of payment on the exchange, but BTR is the most efficient and ideal.

Customer Service

Customers may get in touch with the support team by email, Twitter, Telegram, or Facebook. The website features various automated pages and parts to assist in resolving any functioning difficulties in order to address the 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 the large amount of its users.

Conclusion of the Review

Bitrue trading platform is a well-known crypto exchange that provides an amazing number of services while keeping fees cheaper than most other exchanges. Bitrue 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.

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FAQs

Can Bitrue be used by customers in the United States?

Bitrue is available in the United States, however its use may be restricted in some areas due to local laws and restrictions. The most notable are the states of New York and Texas. You can use Bitrue as a US client if you are located in another location where the rules are in place.

How long does it take to make a Bitrue deposit?

The continual changes in the network and blockchain make a set time for the deposit uncertain. You may deposit by selecting your favourite cryptocurrency and depositing using either the address or the QR code.

Is Bitrue legal in my country?

Bitrue is available in over 80 countries, and you may check the website or mobile applications to see whether your local laws and regulations permit the use of Bitrue.

Is Bitrue a Scam or a Legit Site?

Based in Singapore, is one of the most trustworthy and widely used crypto exchanges. For its millions of registered users, the platform continues to inspire confidence and accountability. Bitrue has stood the test of time by being the platform of choice for a large consumer base.

Does Bitrue provide bonuses?

Bitrue offers several prizes and incentives depending on various parameters. Referral incentives are earned by referring and inviting new users. The original inventor receives a share of the transaction value each time it happens. Using BTR for specific platform features may potentially provide you with a benefit in terms of fee reductions.

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