With 4.2 million registered users, Bitrue is a well-known exchange for its effortless, safe, and fast services in digital assets management. Bitrue has been established by a group of blockchain enthusiasts who focus on cryptocurrency trading. Its offices are located in the US, Europe, and the Asia Pacific. Bitrue is the world’s first exchange for cooperating closely with XRP and will soon partner with WanChain, the world-renowned blockchain team, to support more investment-worthy currencies.
Table of Contents
- Today, Bitrue is known as a leading crypto exchange platform and a global company that provides simple but highly-secured fair financial services to all its users.
- It is one among the top 5 exchanges by XRP trading volume.In this review, you will get to know more about the bitrue exchange.
- Compatible with more than 30 currencies, Ripple has recommended Bitrue as one of the best crypto exchanges for XRP traders.
What is Bitrue?
Bitrue is an all in one place global crypto trading platform launched back in July 2018. It offers several decent financial services options engaging its users to buy/sell, withdraw/deposit, invest in futures & take up BTR Lockup facilities. In addition, the exclusive features of Bitrue include crypto and blockchain-backed loan services for XRP and Power Piggy.
Bitrue Reviews: Features
- Bitrue is a sure one-stop crypto trading platform based in Singapore where you can store, convert, transfer and manage all the cryptocurrencies anytime and anywhere.
- It supports Bitcoin, Bitcoin Cash, Litecoin, USDT, Ethereum and ETC.
- XRP is set as the base currency of Bitrue, allowing XRP holders to purchase other virtual currencies while paying lower Tx fees.
- The Lifeblood of bitrue, BTR coin, is a native crypto asset on the exchange which powers various services on the Bitrue Exchange, most notably in boosting the value of investments done in Power Piggy service.
- Provides 15% APR on BTR in new 30 day lockups.
- Relies on multi-signature cold wallets to lock the users’ fund and provides insurance to replace any lost assets in case of cyber attack.
- Provides access to digital lending services after the user’s pass the KYC verification process.
- KIN & JAM are the two coins listed on the exchange through majority votes during the first round of BTR Voting.
Bitrue Coin (BTR)
BTR is the native platform token issued on the Bitrue exchange. Bitrue Coin is an ERC-20 token created to help all the Bitrue businesses with services of fees deduction, wealth management & loan programs to name a few.
Bitrue loans is a crypto lending service with an unlimited borrowing period. However, the users must pass the KYC verification process & set up their PIN code before using the loan service. So, isn’t it cool that while you hold XRP, you can also use it as collateral to leverage your capital and borrow USDT, stable coins or Bitcoins, ETH, XRP & also get a chance to earn a fair interest rate?
Also Read: Crypto Lending vs Crypto Staking
An exclusive full 30-days BTR lockup facility introduced on 28th May 2021 is available for XRP, BTC, ETH, USDT, LINK, ZIL & LUNA tokens for BTR holders to earn handsome returns up to 15% APR on their investments.
Low Tx fees & Promotion Activities
- For cash withdrawals, lower transaction fees shall be charged.
- Bonus earned on XRP and WAN token coins will be directly sent to the user’s account.
Bitrue has allotted governance powers to the holders of BTR, who can now decide on important decisions regarding the futures of the Bitrue exchange. The first round of successful BTR voting started in July 2021. It allowed users to stake their BTR to vote on coins they wanted to see tradeable on the exchange. The team is also planning on allowing BTR holders to vote on coins they wish to invest in Power Piggy.
Is Bitrue safe?
Built by a team of cybersecurity specialists, digital financial experts, and blockchain developers, Bitrue exchange assures a risk-free and safe environment for all its crypto traders. It offers robust security measures including –
- Multi-signature cold wallets
It has a highly reliable multi-signature cold wallet system that locks almost 95% of the user’s assets, which hackers can’t penetrate. Hence, it isn’t easy to physically access them.
2. Rating from Third-Party
Bitrue is certified by NSFOCUS. In addition, it has been awarded a rating of ‘B’ from a third party.
3. Advanced Multi-level Clustering Structure & Top-Notch Security
It also comes with an internal risk control model with four certification levels, and the security team proactively runs weekly tests and checks on the system to avoid cyber attacks.
BTR, along with XRP, is held by Bitrue for insurance purposes. If Bitrue were to suffer from a hack and loss of assets, these funds would be used to replace the lost assets.
Can you sell XRP on Bitrue?
Bitrue is an XRP-centric & Ripple recommended crypto exchange for trading in XRP. It has 50 plus trading pairs against XRP. According to Bitrue’s webpage, they are recognized among the top 5 exchanges by XRP trading volume. Curis Wang also told the audience in one of his interviews that they run an XRP validator to decentralize the whole ecosystem.
How to trade on Bitrue?
- The first step is to select a coin and a coin pair. Then, accordingly, tap on “Limit” to trade under limited prices and tap on “Market” to switch under market prices.
- Next, the system will automatically update data into the “Price” and “Quantity” fields for “Limit” trading once you select the preferred price and quantity from the list of orders available on the right of the webpage.
- Under the “Market” option, the system automatically feeds the best prices on the market for your trading once you enter the preferred “Quantity”.
- After setting up the price and quantity, click the “Bid” button to buy BTC or click “Ask” to sell BTC.
Bitrue offers a highly responsive & easy-to-understand user interface. You can view data indicators and follow market trends such as the price, rate of change, or volume. Additionally, a dark mode feature is also available on Bitrure’s user interface to change the background color.
Bitrue Power Piggy
The Power Piggy feature allows its investors to indulge in cryptocurrency investments and serve as a steady passive source of income on the coins. On 15th October, Axie Infinity AXS was added to Power Piggy with an interest rate of 50%. Further, on 20th October, an extra special round of lockup investments was initiated with a promise of a 100% interest rate. The minimum limit is kept at 50 AXS with a 30 days investment period.
You can manage all your transactions via Bitrue’s mobile application that has received an average rating of 3.6 on the GooglePlay Store. The app is compatible with both Android phones and iOS devices.
Bitrue Support services
There is an extensive Help Center available on Bitrue exchange. The customers can skim to read FAQ & BTR related news and know about the latest feature upgrades and current events running on Bitrue. In addition, the customers can connect with the support team via email, Facebook, Twitter & Telegram pages. To stay updated with the latest info, you can also follow them on Medium.
Conclusion: Bitrue Review
Bitrue launches new features & makes timely upgrades on their system, which is quite impressive. Moreover, it’s taking the initiative to build a sustainable ecosystem by establishing healthy relationships in the crypto market like with Ripple and now WanChain. Besides providing high-level security, real-time market tracking, and lower Tx fee, it also offers convenient customer support services to its users, indicating that they care about the investors and their interests.
Frequently Asked Questions
A team of senior management from Capital One runs the privately-owned company, and its CEO is Curis Wang. It has 165 different cryptos listed on the exchange, including its very own BTR coin. Its HQ is located in Singapore, Asia.
The users can create their accounts on the exchange by visiting the Bitrue website or app. The next step is to log in. Once the login is done, you can avail of the credit card facility to initiate buying/selling in the currency of your choice. This facility takes on an average of 10-30 mins to add cryptocurrency to your wallet and is currently available on VISA and MasterCard.
As such, there is no requirement to complete an ID Verification process or KYC process immediately. However, to avail of the loan services, it’s mandatory for the users to finish the KYC procedure and set up their PIN code.