Bitrue Review Overview
| ✅ Official Website | https://www.bitrue.com/ |
| ✅ Headquarters | Singapore |
| ✅ Found in | 2016 |
| ✅ Native Token | Yes |
| ✅ Listed Cryptocurrency | 114 |
| ✅ Supported Fiat Currencies | USD, EUR, GBP, HKD, SGD, AUD, CHF, MXN |
| ✅ Trading Pairs | 700+ Cryptocurrencies |
| ✅ Clients Accepted from | 100+ Countries |
| ✅ Minimum Deposit | N/A |
| ✅ Deposit Fees | No fees to Deposit Cryptocurrency |
| ✅ Transaction Fees | 0.098% |
| ✅ Withdrawal Fees | 0.0005 BTC |
| ✅ Platforms Available | Web, Mobile |
| ✅ Mobile App | iOS, Android |
| ✅ Payment Types Accepted | Credit |
| ✅ Customer Support | Submit a request form & FAQs |
What is Bitrue?
Bitrue stands as a cutting-edge online exchange platform, dedicated to offering the cryptocurrency community secure and user-friendly avenues for purchasing, selling, transferring, and safeguarding their digital assets.
The genesis of Bitrue dates back to 2018 when a group of astute cryptocurrency aficionados, spearheaded by the prominent figure in the cryptocurrency realm, Cruis Wang, embarked on this transformative journey. Bitrue's operational hubs are strategically located in Singapore and Taiwan, complemented by local offices extending their reach to the United States and England.
The passionate blockchain enthusiasts steering this platform remain resolute in their pursuit of Bitrue's vision, which centers around furnishing robust financial services underpinned by a cryptocurrency exchange platform. Remarkably, within just one year, the exchange has witnessed a remarkable surge in both its growth trajectory and its reputation.
By March 2020, Bitrue had ascended to the 64th position in CoinMarketCap's listings, marking a significant milestone. Crypto traders engaged in exchanges of staggering proportions, totaling a jaw-dropping $218 million in daily trading volume within a span of twenty-four hours.
Fast forward to April 2021, and the platform's meteoric rise continued, with an astounding nearly 500% surge. Bitrue soared to the 70th position on CoinMarketCap's rankings, boasting an exchange volume that slightly exceeded the remarkable milestone of $1.2 billion.
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The formidable team at the helm of Bitrue comprises seasoned executives hailing from Capital One, bringing a wealth of experience and expertise to the cryptocurrency arena. At the forefront of this dynamic team stands none other than Curis Wang, a prominent figure in the cryptocurrency industry, serving as the CEO and guiding force behind Bitrue's remarkable journey.
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Bitrue Review: Pros and Cons
Bitrue Pros
- Extensive cryptocurrency selection with diverse trading pairs and charting tools.
- Generate interest by investing in crypto through the Power Piggy feature.
- Access Bitrue Loans for borrowing a range of cryptocurrencies.
- Explore passive income options.
Bitrue Cons
- The previous hack resulted in a loss of over $4.2 million in assets.
- Reliance on third-party services for essential functions may deter traders.
- Complaints of delayed response times from the support team.
Bitrue Features and Services Reviewed
XRP Focussed Trading
Bitrue stands as a top-tier destination for acquiring XRP, catering not only to investors but also to traders seeking to amass XRP tokens through various trading pairs.
Having introduced XRP as a base pair in July 2018, Bitrue now boasts an impressive selection of over 50 trading pairs for the purchase and exchange of XRP with other cryptocurrencies. Remarkably, Bitrue's website proudly declares that it commands more than 10% of the global XRP trading volume, solidifying its position as a major player in the XRP market.
Bitrue Piggy Bank
Bitrue introduces the ‘Piggy Bank' feature, an enticing opportunity for verified platform users to engage in a staking pool. Participation in this feature operates on a first-come-first-serve basis, necessitating the initial deposit of funds into the wallet to qualify. Notably, Bitrue has expanded its support to include popular tokens like DOGE, SAFEMOON, SHIB, SOL, HBAR, and more, offering an Annual Percentage Rate (APR) that can reach an enticing 15%.
Top 3 Power Piggy
What sets Bitrue apart is its accessibility, particularly for novice investors with modest accounts. For instance, the minimum deposit threshold for Bitcoin stands at a mere 0.01 BTC, yielding an annual interest rate of 1.9%. Furthermore, maintaining 2% of one's holdings in BTR tokens can elevate the interest rate to an appealing 2.28%, all without any lock-up periods. This flexibility enables users to withdraw their assets at their discretion. However, it's essential to note that these pools tend to fill up rapidly, so swift action is advised.
Bitrue Loans
Similar to other cryptocurrency interest platforms like BingX and Bybit, which empower their users to deposit crypto and access loans, Bitrue has introduced its own lending service known as Bitrue Loans. Beyond mainstream coins such as BTC and XRP, Bitrue allows users to collateralize stablecoins and popular altcoins like LINK, XLM, SHIB, and BNB.
The primary advantage of securing a loan against your crypto assets is the ability to harness capital for other purposes without the need to sell your coins, thus avoiding triggering taxable events. Bitrue calculates interest rates on a daily basis and offers flexible repayment options. For instance, when borrowing USDT, users can expect daily interest rates ranging from 0.024% to 0.055%.
Furthermore, this feature presents existing users with an opportunity to generate a yield from their idle assets. However, it's worth noting that for individuals seeking diverse coin options and interest rates to bolster their portfolios, Bitrue Loan products may not be as extensive as some of the premier lending platforms available in the market.
How to Register an Account on the Bitrue?
Getting started with Bitrue is a welcoming experience, tailored to meet your specific exchange needs. For newcomers, the registration process is user-friendly, allowing you to sign up using your email address and phone number.
Bitrue places paramount importance on account security, employing a robust two-step verification process designed to safeguard transaction histories, vital information, and control tools. When it comes to funding your account and making investments, Bitrue offers two primary methods: credit card deposits and a variety of online options for transferring digital funds.
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Newcomer Benefits
Futures Rewards
Spot Rewards
Limited to once per user, complete rookie tasks to earn rewards
Bitrue KYC Requirements
Bitrue is a cryptocurrency exchange that offers users the flexibility to engage in cryptocurrency trading without the necessity of undergoing KYC (Know Your Customer) verification.
Nevertheless, individuals seeking to purchase cryptocurrencies or deposit fiat currencies on the platform are required to undergo the KYC process.
The signup procedure on Bitrue is both swift and effortless, requiring just 30 seconds for users to register and initiate cryptocurrency trading.
The KYC verification process, while still relatively efficient, takes a few minutes and entails the submission of personal identification documents. Upon successful completion of the verification process, users gain access to additional features, including elevated withdrawal limits.
Is Your Bitrue Account Secure?
Bitrue places a strong emphasis on user safety and the confidentiality of their information, asserting it as a top priority. Additionally, Bitrue offers a multi-signature cold wallet option to enhance the security of your assets.
When it comes to the security rating, third-party assessments are mixed. Some reviews speak favorably of Bitrue, considering it a sound choice, while others recommend exploring alternative options.
It's worth noting that Bitrue has faced vulnerabilities in the past, which were exploited. However, the exchange managed to endure and recover thanks to its popularity and distinctive features.
