Bitrue

Bitrue Cryptocurrencies and Trading Options

Let’s now see what crypto variety Bitrue offers.

What cryptocurrencies can you trade on Bitrue?

There are over 150 tradeable cryptocurrencies and little-known altcoins on Bitrue. The top 5 coins are:

• Tether(USDT)
• Bitcoin(BTC)
• XRP(XRP)
• USD Coin(USDC)
• Ethereum(ETH)

With a 24h trading volume that usually surpasses $2 billion, Bitrue is one of the top exchanges. It supports over 500 trading pairs. The top pairs by volume are:

• Bitcoin (BTC) - BTC/USDT, BTC/USDC
• Ethereum (ETH) - ETH/USDT, ETH/BTC, ETH/USDC
• XRP - XRP/USDT, XRP/BTC, XRP/ETH
• Cardano- ADA/USDT, ADA/XRP, ADA/BTC
• Solana - SOL/XRP

Different Trading Options Offered by Bitrue

Apart from spot trading, Bitrue offers the option to trade futures and leveraged EFTs.

The exchange provides over 150 crypto assets that users can buy and sell on the exchange. There are also over 500 trading pairs available on the spot market. The top pairs for spot trading are:

• ETH/USDT
• BTC/USDT
• XRP/USDT
• SOL/USDT

Leveraged exchange-traded funds (EFTs) work by using a financial derivative to try and magnify the returns on an underlying asset. Bitrue offers long and short term leveraged EFTs across multiple crypto assets, for instance, XRP3L, XRP3S, AAVE3S, BTC3L, and BTC3S,

Another trading instrument on Bitrue is perpetual futures. There are over 50 pairs that you can trade with this contract. Funds for futures are stored on a separate account, and you’ll be required to select the coin pair you wish to trade, e.g., BTC/USDT.

Bitrue supports two margin modes, cross and isolated. Cross mode will use all the funds in your futures account while you have a chance to specify the amount for isolated mode.

These perpetual contracts offer you a chance to increase your risk exposure through leverage. You can also decide to go long or sell short. Some of the top perpetual future pairs are BTC/USDT, XRP/USDT, 1000SHIB/USDT, ADA/USDT, and ETH/USDT.

Can I Trade With Leverage on Bitrue?

Yes, you can trade with leverage on Bitrue. You can use leverage on both the perpetual futures and leveraged EFTs.

As of December 2021, Bitrue leads other centralized exchanges in the number of Leverage tokens with the support of over 100 coins. Traders can amplify their profits/losses with leverage(set to 3 times your trading amount ) for long and short positions on individual cryptocurrencies. For instance, SOL3S.

For perpetual contracts, the maximum leverage will depend on the value of your position and the underlying asset you decide to purchase. This option also allows you to go long or short, depending on your personal preferences.

The leveraged EFTs and perpetual futures leverage are comparable to those of Binance. Users can increase their risk exposure on various cryptos and trading pairs.

Futures and the use of leverage are inherently riskier than the regular buying and selling of cryptocurrencies. They increase your risk and may put you in financial danger.

What Are the Spreads?

There is a variable trading fee depending on the pair in question. Trading fees involving XRP such as XRP/USDT or XRP/BTC have a variable cost of 0.2%. Other mainstream trading pairs involving BTC, USDT, and ETH have a fee of 0.098%

Fees, Limits, and Payment Options on Bitrue

What Are the Deposit and Withdrawal Fees, Limits, and Speeds?

Bitrue is both a fiat to crypto and crypto to crypto exchange. There is a large selection of coins you can deposit, from popular crypto like Bitcoin to smaller altcoins like AMAS.

The exchange provides a limited number of ways to fund your user account using fiat money. Exchanges like Binance and Coinbase provide far better options in this respect.

Bitrue charges trading fees for all the pairs available. Fees will largely depend on the pair you select. The charges are comparable to platforms like Binance and are better than Coinbase.

Deposit Methods

Users can deposit crypto and fiat on Bitrue. The website recommends using other platforms like LocalBitcoins and OTCBTC for a better selection of payment options before depositing on Bitrue.

Bitrue partners with Simplex, a third-party payment solution company, to provide its clients with the ability to deposit fiat using their credit card and Apple pay. Visa and Mastercard are the accepted on the platform.

The exchange also partners with another company known as Legend Trading to allow its clients to buy crypto using fiat. Legend Trading is a US-based crypto firm that concentrates on institutional traders. Users in the US can use ACH bank transfers, while international clients can use wire transfers.

Users can deposit various fiat currencies, including USD, EUR, GBP, and AUD. ACH and wire transfers may take more than one business day. International wire transfer will take between 2 to 4 business days.

Bitrue doesn’t specify any minimum or maximum deposit limits for purchase via credit cards. However, there is a 3.5% or $10 charge, whichever is higher for credit card transactions. Deposits take an average of 10-30 minutes before being credited to the fiat wallet. There are no wire fees for international wire or ACH bank transfers.

The exchange does not state whether they charge for crypto deposits. Crypto deposits are typically instant but may depend on a specific cryptocurrency.

Withdrawal Methods

Withdrawal fees are adjusted dynamically depending on the network condition of the blockchain in question. However, Bitrue has some expected withdrawal charges in place. For instance, expect a fee of 0.05 for BNB, 0.0005 for BTC, and 0.01 for ETH.

OTC traders using the Legend Trading platform can expect a fee of $30 for fiat withdrawal to the bank account. This applies if the trade size is less than $50,000.

Before withdrawal, account holders will be required to adhere to three security steps. These settings are:

Setting asset password

Bind Google Authenticator

Bind email

The speeds for withdrawal of crypto will depend on a particular cryptocurrency. For instance, users withdrawing Ethereum tokens could wait up to 30 minutes, while Bitcoin withdrawals could take over 20 hours.

KYC verification does affect withdrawal limits. Account-holders with verified accounts can withdraw up to 100BTC per day.

Bitrue Trade Sizes and Limits

The exchange doesn’t specify any sort of limits for spot trading. We believe that account holders can buy the smallest fractional unit of crypto. The maximum amount users can trade is at the discretion of the exchange.

OTC traders who use the third-party service, Legend Trading, have a minimum limit of $500 and a maximum limit of $1 million.

Bitrue Trading Platform

What Devices Can I Use Bitrue On?

Ensure that your device is internet-enabled. Use the following to connect to Bitrue:

• Tablets
• Mobile phones (Android and IOS)
• PC

The mobile apps can be downloaded on the IOS and Google app store. It enables you, monitor and trade while on the go. Here is what you can do with the Bitrue app:

• Trade and store crypto
• Real-time monitoring of the crypto market
• Store, convert, transfer and manage all crypto all everywhere, everywhere.
• Invest using the power piggy feature
• Borrow Bitrue loans
• DeFi liquidity Mining

Can I Use Bitrue in Any Country?

Bitrue can be accessed globally in countries including Singapore, the USA, the UK and Canada. However, it does not operate in OFAC countries or countries like China, where crypto exchanges are banned. In the US, it does not operate in Texas or New York.

Is Bitrue Available in My Language?

Bitrue is available in eight languages. Apart from English, users can find Spanish, Chinese, Indonesian, and Arabic.

How Easy Is It to Use Bitrue?

Buying and selling crypto on Bitrue using other crypto and a credit card is simple enough for beginners. However, OTC traders may find it complicated due to the use of a third-party crypto firm.

The user web interface is simple enough, and the mobile apps are easy to use. The interface for borrowing and investing is also straightforward. Advanced users can enjoy sophisticated features like perpetual futures and Leveraged EFTs.

Key Features

Bitrue has a diverse clientele with a trading volume that periodically surpasses $2 billion in 24 hours. Apart from the low fees, other standout features that make this exchange popular are:

Full XRP Support

Bitrue uses XRP as its base currency. Traders can fully harness the advantages of XRP to trade crypto easily and at lower fees. The XRP community recognises the exchange and is one of the top five exchanges by XRP trading volume.

Power Piggy for Passive investment

The Power Piggy feature allows users to earn by investing their crypto in the exchange. There are daily payouts with no lockup period. The feature supports over 60 coins, including BTC, XRP and ADA.

Bitrue Loans

Borrowers can pledge over 30 currencies in exchange for popular crypto like BTC that can be sold or invested quickly. There are no handling charges for loans.

Security and Regulation

The safety of funds and crypto-assets is one of the primary considerations for traders. Let’s see if Bitrue’s security features suffice.

Is Bitrue Safe?

Bitrue has a tarnished history when it comes to safety. Hackers stole close to $4.5 million worth of Ripple and Cardano coins. The company promised to reimburse all those affected. There was also another security breach involving Ethereum Classic in 2019.

The exchange now says it has bolstered its security preparedness. This is after many tests and trials, including pseudo attacks and RO tests. It also employs memory matching technology with high elasticity to avoid DDOS attacks and aid fast and consistent performance of its trading engine.

The platform now uses McAfee security solutions to secure personal data and crypto-assets. Verified users also have to use the 2FA feature to secure their accounts.

Despite the assurance from the exchange, we cannot take their word for it simply due to the past incidents. It has been two years since the last security breach, and we hope the measures put in place can deter any attacks.

Am I and My Cryptocurrency Protected?

The platform boasts multi-layered systems to protect data and assets. Assets are also secured using a multi signature cold and hot wallet with isolation technology to guarantee asset safety. 99% of crypto assets are stored offline in the cold wallet to prevent easy access by hackers.

Is Bitrue Regulated?

The company operates from Singapore and is available globally. The Bitrue website doesn’t provide any information regarding regulatory compliance in the countries it operates in.

Do I Have to Verify My Account With Bitrue?

KYC is not mandatory on Bitrue. Before verifications, users can deposit, trade, invest, buy, and withdraw up to 2 BTC daily.

Users can use a driver's license, passport, or national ID for verification. The exchange offers benefits to verified users including better security for accounts, unlocking extra features, trading restricted coins, using the loans service, and withdrawing up to 100 BTC daily.

Extra Information

Educational Resources

Users have to contend with the FAQ and a training centre that explains the technical aspect of the platform.

Tools and Charting

Traders enjoy several order types, including limit and market orders. The exchange also has trigger ordering capabilities and technical indicators for analysis. The multi charts on the exchange can show moving averages and much more.

Professional traders might feel left out because these tools are basic to intermediate. The platform recommends using the Legend Trading platform, integrated with Bitrue.