Bitrue Crypto Exchange Review 2024: Is It Worth It?

Becoming a successful crypto trader requires a keen eye for reliable platforms.

Today, I will review Bitrue, a crypto exchange that has been drawing attention thanks to its 700+ coins, staking options, and competitive fees.

But with so many platforms out there, the question remains: is Bitrue the right fit for you?

If you’re seeking an objective, informative review, you’re in the right place. I’ve personally tested Bitrue so I can give you an unbiased assessment of its features, signup process, deposit and withdrawal methods, user experience, fees, and more.

By the end, you’ll have a crystal clear picture of what Bitrue brings to the table and whether it aligns with your trading goals and risk tolerance.

Pros and Cons of Bitrue

Evaluating High Impact Factors

Trade with Bitrue If:

• You’re a small-scale trader seeking a vast range of cryptocurrencies
• You’re looking for competitive fees and a user-friendly interface

Don’t Trade with Bitrue If:

• You prefer a crypto exchange regulated by a recognized authority
• A history of security breaches is a deal-breaker for you
• You’re based in the United States or Canada

Verified Office Address

On several platforms, including its LinkedIn page and Crunchbase profile, Bitrue simply states that it’s located in Singapore.

On ZoomInfo, their address is listed at 5 Xinyi Rd Xinyi, Dist, Taipei City, 110, Taiwan.

However, that address has not been officially verified.

Expert Opinion on Bitrue Review

The biggest nail in the coffin for Bitrue is its measly 1.8 stars on Trustpilot. This shows that users are severely dissatisfied with the exchange. In fact, close to 70% of users give Bitrue a 1-star rating.

Looking deeper, it becomes clear that people’s grievances with the exchange are largely associated with frozen accounts, difficulty withdrawing coins, and cyber attacks.

For example, a Cardano Ambassador Moderator on Reddit had this to say about Bitrue:

Similarly, an expert crypto trader on Quora, Robert Hirsch, vouches for Bitrue’s authenticity as a trading platform but discourages traders from using the exchange as their wallet:

Crypto Jon, a crypto aficionado on YouTube notes that Bitrue is a lesser-known exchange and, therefore, risky to trade with compared to more established ones like Coinbase:

“I don’t go on some of these new exchanges and try to put a large amount of money on there. If I ever do that (and I know some of my Discord members use some of these exchanges), I make sure we move our funds right away to a wallet or cold storage. So, if you ever use some new exchanges like Bitrue… make sure you safeguard your crypto.”

Expert Review of Bitrue

I wanted to get an unbiased picture of Bitrue, so I went down the rabbit hole of cryptocurrency exchange rankings, user testimonials, and market trends. The reviews were mixed, to say the least. But let’s break down what I found so you can make a better informed decision about the exchange.

Regarding its liquidity, Bitrue stands as one of the more successful exchanges. Case in point, it secures a prime spot on Statista’s roundup of the largest crypto exchanges for 2024 based on trading volume.

Popping over to CoinMarketCap, Bitrue ranks No. 37 on the global crypto exchange for Spot Trading – another notch in its belt.

Bitrue ranks even higher on the derivative column, snapping up the No. 27 spot.

Despite these accomplishments, users on many review platforms have plenty of terrible things to say about the exchange after testing it for themselves. So, it’s worth considering their complaints rather than simply make your decision based on rankings.

Signing Up with Bitrue

The signup process for Bitrue was standard. Nothing stood out to me as being out of the ordinary.

After clicking the signup button, I was directed to the registration page, where I provided my email address.

Bitrue immediately followed up with a 6-digit verification code to confirm my email address.

Once that was done, they asked me to set a strong password, after which they confirmed that my account was successfully created.

To unlock key features, I had to complete a standard Know Your Customer (KYC) verification, which Bitrue divides into two levels:

• Basic Verification: For the primary verification, I provided my name, country, and phone number. In return, Bitrue unlocked deposits and trading features with the withdrawal limit set at 2 BTC.
• Advanced Verification: For advanced verification, Bitrue requires an identification document. Once provided, they unlocked fiat trading, trading, deposits, and raised the withdrawal limit to 500 BTC.

Bitrue Dashboard

In crypto trading, first impressions can make or break an exchange. That’s why a good dashboard matters.

Bitrue’s dashboard is refreshingly straightforward. I could find everything I needed quickly, without any confusion or difficulty. Even my friends and family members who aren’t as experienced with cryptocurrencies were able to navigate it with ease.

When I signed in, the screen displayed a clean interface with account details, security features, address management, ID verification, and API options listed on the left-hand side. On the right side, I could find orders, assets, and the settings menu.

Various financial instruments, such as spot and futures trading, were readily accessible from here as well. I found the Overview feature particularly beneficial.

As one of the most customizable dashboards available on the market, Bitrue enables users to personalize displayed assets and rearrange them according to their preferences.

Overall, the Bitrue dashboard provides a reasonable balance between simplicity and functionality. It’s intuitive enough for beginners, but detailed enough for experienced traders to execute the right moves. I personally find that it’s organized in a way that makes managing my activities an enjoyable endeavor.

Deposits and Withdrawals on Bitrue

My experience funding and withdrawing from my Bitrue account was fine. It wasn’t overly complex. However, there are a few things you should know about.

Deposits

One thing to note about Bitrue is that it does not support fiat currencies or wire transfers. As a result, all deposits on the platform are done exclusively in cryptocurrencies.

Because Bitrue has teamed up with Simplex, you can acquire cryptocurrencies using your credit card. However, there is a 3.5% commission or $10 flat fee attached, which is higher than market averages.

To avoid these high charges, I bought my crypto coins elsewhere and transferred them to my Bitrue account, which was a much better deal.

Although Bitrue lacks fiat options, its competitive trading fees nonetheless make it a viable choice for many users.

Withdrawals

Unlike deposits, Bitrue allows fiat withdrawals to your bank account. What’s more, they process it for free.

That said, withdrawals to other crypto wallets attract fees that vary depending on the cryptocurrency. For instance, withdrawing Bitcoin incurs a fee of 0.005 BTC, while USDT and Ethereum (ETH) withdrawals have fees of $2.6 USDT and 0.01 ETH, respectively.

Trading Conditions on Bitrue

If you’re ready to buy, sell, and trade on Bitrue, there are several factors to consider.

Buying and Selling

First off, buying and selling is pretty straightforward, making Bitrue ideal for quick trades. And the best part? No fees for ACH transfers.

If you prefer card purchases, remember that a 3.5% or $10 flat fee is attached.

Assets

For trading assets, Bitrue offers two options:

• Simple: Excellent for entry-level crypto enthusiasts
• Advanced: Caters to more experienced traders with fancy charts and different order types – though only market and limit orders are currently available

Futures

If you’re new to the crypto game, it’s important to tread carefully when it comes to futures trading, as it comes with significant risk. Here’s Bitrue’s warning about this:

Spot Trading

Bitrue’s spot trading fees are notably competitive, though it isn’t the cost leader. As an added advantage, using Bitrue’s coin to pay fees gets you a 20% discount on trading costs.

Unlike many platforms, Bitrue doesn’t set different fees for makers and takers. Instead, it charges a flat fee of 0.098%, which is lower than most exchanges. Case in point: Binance charges a 0.1% spot trading fee.

DeFI

Finally, Bitrue offers a unique blend of centralized and decentralized finance (DeFI) technologies, giving users options beyond traditional trading.

How to Start Trading with Bitrue

Once your Bitrue account is verified, you must fund your crypto wallet. Remember, your options are either crypto deposits or credit card purchases. To save on costs, I opted for the crypto deposit option.

Next, select your trading preferences depending on how crypto-savvy you are. If you aren’t a crypto veteran, I’d recommend using the simple form for quick buys/sells. If you are a pro, you can head straight for the advanced options to access charts, order types, and market insights.

The final step is finding your preferred asset. The­n, position your order and track how you’re doing. It’s good to know your way around before­ trading. Start small, increase your confidence, and grow your abilitie­s gradually.

Useful Tools for Traders on Bitrue

Bitrue gives users a variety of valuable tools to enhance the trading experience. I re­ally liked Bitrue’s Auto Invest and Loan fe­atures.

With Auto Invest, it’s set and forge­t. Specify your details and leave­ the work to Bitrue. This simplifies inve­sting and saves time.

The Loan feature is helpful when you need cash pronto but don’t want to sell off. It allowed me to latch onto short-notice trading opportunities or meet other financial needs.

Investment Opportunities on Bitrue

While Bitrue excels at crypto trading, it also serves up some appealing investment prospects.

One option is Staking, where you can earn passive income by locking up your crypto holdings for a set period.

Then there’s Power Piggy, which lets you earn daily interest on your crypto assets. The cherry on top? You can withdraw anytime, penalty-free. That’s a big plus for me.

Finally, BTR Lockups lets you lock your Bitrue tokens for different durations (30, 60, or 90 days) and unlock increasingly higher interest rates compared to normal staking. This would be ideal for experienced traders playing the long game on Bitrue.

Keep in mind that all investment programs are inherently risky. Carefully consider your options and risk appetite before committing your funds.

Bitrue’s Affiliate Program

If you’re thinking of becoming a crypto ambassador, Bitrue’s affiliate program is worth considering.

Bitrue affiliates earn special bonuses by referring users to the platform. Here’s how it works, in a nutshell:

1. Share your unique affiliate link
2. People sign up through that link
3. You earn a commission based on their activity on the platform

If you’re interested in joining, simply fill out this confidential form.

Ultimately, your rewards will be based on the size of your social media following and may include:

• Trading commissions up to 40%
• Interest earned through Power Piggy
• Interest paid on loans by your referred users

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