What is Bitrue?
Launched in 2018 and currently based in Singapore, Bitrue is a cryptocurrency exchange designed and developed by crypto enthusiasts who know that the blockchain industry is the future of the financial and digital banking system.
Focused on forward-thinking, they came up with an exchange that offers futuristic, efficient, fast, and safe cryptocurrency services to users from all over the world. The exchange is an excellent combo of different crypto services that a trader, investor, and explorer need. Starting with the simple buying and selling of crypto assets, Bitrue also allows their users to trade professionally and explore the world of trading.
They also have several earning programs through which you can start earning money with your digital assets. A simple, fast, and efficient layout helps you get started on the platform right away, with the registration process only taking a minute. As Bitrue is a global exchange, the platform is available different languages. It is available worldwide except in China, New York, and Texas.
My Overall Thoughts on Bitrue
Considering how far the blockchain industry has come and how fast the common public is adapting to the concept of web 3.0, the era when cryptocurrencies rule is not very far away. Playing their own part in the development of the crypto industry, Bitrue introduced their own features and services that are still used by millions of users from all over the world. One interesting thing about Bitrue is that the platform was launched just a few years ago, and yet they have still managed to bring what the crypto community demands.
Bitrue offers a simple yet professional buying and selling experience. They have created great diversity in their trading markets and offer a wide range of crypto assets to trade. The features like staking, farming, and borrowing are more innovative and are helping more and more people out. But there are some crucial things about Bitrue that I think are the main highlights of the platform. Take a look at them below:
1) 200+ cryptocurrencies and 1000+ trading pairs: The diversity that Bitrue has created in the crypto assets and trading pairs they offer is immense. Traders get the chance to explore countless pairs and trade any asset they want without any limitations. This enables traders to diversify their portfolios, take risks in different markets, evaluate better opportunities, and learn and grow at the same time.
2) Premium returns through staking and farming: Staking and farming are the two main investment features in Bitrue that investors can use to earn money, with some plans offering up to 50% APY. You can also go with stable assets and get 10% to 15% returns which are impressive for safe investments.
3) Easy borrowing with collateral: Bitrue users can instantly opt for loans by simply providing collateral to the platform. You can return the loan whenever you want and choose from a variety of assets to borrow.
However, Bitrue has to work on their customer support system along with their partnership with third-party payment merchants. But with the way they are progressing, we might see a real change soon.
Key Features and Advantages of Bitrue
Bitrue is a cryptocurrency exchange that serves users with all types of needs. They have not restricted their platform to a specific community only, and almost anyone can access the exchange. Starting with the simple buying and selling of cryptocurrencies, Bitrue also allows their users to sell and purchase crypto assets through third-party payment merchants. Just choose the one that offers you the best rates and suitable payment modes.
Bitrue is quite versatile when it comes to trading, too. Aside from spot trading on the exchange, you can check out ETFs and futures as well. To facilitate investors, Bitrue has integrated several investment options like farming and staking through which you can start earning. But if you want to get a complete idea of what Bitrue offers, take a look at the list below:
Negatives and Disadvantages of Bitrue
It is true that Bitrue is a one-stop crypto exchange having tons of innovative features benefiting all types of traders. However, there are a few aspects that they lack and they really need to improve those in order to provide their users with a smooth experience. You can take a look below to find out what are the negatives of Bitrue:
What Services Does Bitrue Offer?
Bitrue has lived up to their claim of being a one-stop cryptocurrency exchange. They offer a variety of crypto services right in one place. Starting with beginner-friendly services like buying and selling cryptocurrencies, Bitrue offers a fast, efficient, and easy experience to casual crypto users who simply want to expand their portfolios. Moreover, when it comes to a professional trading experience, Bitrue has not compromised in developing their trading layout.
They offer innovative, advanced, and premium trading features along with the option to explore several trading markets. More than 200 crypto assets also allow traders to enter a whole new world of cryptocurrencies and make the right decisions. Check out all the Bitrue services below:
Buy and sell cryptocurrencies via payment merchants: Bitrue has made purchasing and selling of cryptocurrencies easier through its partnership with multiple payment merchants. These merchants provide users several ways to purchase cryptocurrencies with a variety of fiat assets and payment methods.
The buying and selling of cryptocurrencies at Bitrue take merely a minute, though this might vary a little depending on the merchant and payment method you have chosen. You can instantly get any crypto asset you want through your fiat currencies. In case the market goes sideways, you can also sell the same crypto assets and receive back fiat currencies right in your bank account.
Payment methods on Bitrue include local bank transfers, international wire transfers, credit/debit cards, Apple Pay, ACH transfers, and a few others. You can choose any of these methods by selecting a particular merchant, and you will be taken to a separate page to complete your transaction.
Trade spot, ETFs, and futures: There are three different trading markets available at Bitrue. Spot trading is more suited to low-risk traders or beginners who want to understand the concepts. ETFs allow the traders to leverage their trades and benefit more, whereas USDT futures use USDT as collateral, having predetermined prices delivered at a specific time.
Having three different markets to trade in allows the traders to diversify their trades and explore different markets without limitations. You also get the chance to experience the advanced, professional, and beneficial features of different trading markets. Make sure to understand how they work before going for any of them; otherwise, you will probably lose your equity.
By exploring all the three markets available, you can always learn and grow. Bitrue enables all types of traders with different skill sets to access any market without any restrictions.
200+ cryptocurrencies are available to trade: The platform offers more than 200 crypto assets that users can trade right away. Most assets are available to be traded with margin. Check out their wide variety of cryptocurrencies to start your trading journey.
A great number of cryptocurrencies allows traders to invest their money in different markets and diversify their portfolios without being restrained. There are many exchanges that only offer about 20, 30, or 50 assets, leaving the traders no choice but to invest their money in the same old assets. With Bitrue, you can divide your funds just as you want, lower the risk, and have the chance to determine the market movements of different assets to make the right decision.
The cryptocurrencies that Bitrue offers include all types of assets, including popular ones, newly launched assets, and meme-coins. The list includes BTC, ETH, XRP, ADA, ATOM, AVAX, and many more popular and not-so-popular names that you might want to trade. Also, the same crypto assets are paired with different assets, making the overall total of available pairs exceed 1000.
Mobile apps are available for Android/iOS devices: Bitrue has designed mobile appa to provide users with a fast, responsive, and efficient trading interface that they can download on their mobile phones. These mobile applications allow traders to access the platform with a single tap and use every single feature available.
The mobile apps come with different features, options, and services. Starting with the simple purchasing and selling option, you can access the payment merchants and process your transactions through your mobile device. Bitrue offers a dedicated interface for trading features. You can check out different assets, explore different markets, and customize your trades as per your preferences. The investment features are also accessible through the mobile applications.
Bitrue mobile apps are available for iOS devices and Android phones. Users can also scan the QR code provided by the platform to instantly download the application. Trade anytime you want, no matter where you are. With a single tap, you will have your whole crypto portfolio in your fingertips.
The efficient and fast trading interface: One of the unique things about Bitrue is that they have created two different versions of their trading interface that are meant to work separately for spot/ETFs and futures trading. Both versions come with professional and advanced features, making your trading experience better than ever.
In the trading interface, the first thing you see on the layout are the trading charts. Each pair comes with its own accurate and responsive chart to keep you updated with the market prices. You can also check out the depth charts of each asset and evaluate the market psychology. Bitrue offers unlimited options to customize the interface. You can change the whole format, compare, show countdowns, select different time spans ranging from 1 minute to 1 week, and more. You can also integrate a variety of indicators on the interface and use several drawing tools for your own understanding. Lastly, there is an order book available in the right-hand portion of the interface, along with the order-initiating section right next to it. That is where you can customize everything up and execute your orders accordingly.
In short, you get a full-fledged trading experience without any compromises or watered-down features. Bitrue offers traders a free hand to trade however they want and use the features to their own benefit. You might have to go through some guides, but Bitrue’s trading interface will surely help you trade better.
Earn money through several income streams: Bitrue offers different income streams that investors can use to generate income and benefit from their own digital assets: staking and yield farming. You can go with any of these methods and evaluate their investment period, risk, and overall returns.
With yield farming, investors can easily earn up to 50% APY, depending on the chosen asset, locking period, and the reward type. For stablecoins like USDT, USDC, and BUSD, expect to earn anywhere between 10% to 15%, which is considered quite impressive considering they are stablecoins and come with very low risk. For staking, the platform offers locked and flexible investments. Flexible investments allow investors to take their money out whenever they want without any restrictions; however, these types of plans come with lower returns. Locked plans restrict users from using their assets for a specific period but come with higher returns and more benefits. You can earn up to 10% APY with flexible plans and up to 100% APY with locked plans.
You can earn money with your digital assets by investing them in the plans offered by the platform. You can earn money while you sleep and keep expanding your portfolio over a period of time without losing the value to inflation.
Borrow crypto assets with ease: You can opt for crypto loans on Bitrue with a relatively simple and sound process and get your hands on the cryptocurrencies you want. Rather than asking their users to fill out forms or provide credit scores, Bitrue lets borrowers provide collateral in exchange for the loan, and they can have whatever asset they want in seconds.
The cryptocurrencies that you can borrow on the platform right now are BTC, XRP, USDT, and ETH. The minimum pledge amount set by Bitrue is 100 USDT. But opting for a loan by providing collateral allows the users to keep holding their cryptocurrencies without selling them, and fulfill their needs with the assets they have borrowed. Of course, Bitrue charges a specific interest rate that is calculated every single day. But the good thing is that there is no restriction on the borrowing period, and you can have a loan for as long as you want.
With this simple process, you can save a lot of time and avoid hassle when opting for loans. No need to worry about paperwork. Your loan will be credited into your account as soon as your collateral is approved.
Earn up to 50% commission with a partner program: Bitrue has a broad partner program that rewards both inviters and invitees. The platform offers partners two ways to invite users to the platform: you can email a personalized email or share your unique link with them so that they can join the exchange.
You can earn up to 50% trading commission depending on how many assets your referrals have in their account. Any number below 10,000 USDT rewards you with a 25% trading commission. If your referrals have over 10,000 USDT in their spot accounts, you can earn a 50% trading commission fee. Your referrals can also earn trial funds just by completing the novice tasks assigned by the platform.
If you think you can make people join Bitrue that would also trade on the platform, then you should become a partner. You can even apply for a super partner program with better rewards if you have a big crypto community to which you can refer to the platform.
Beginner-friendly platform with guides: Bitrue is a very beginner-friendly platform with an easy-to-understand layout and defined features. This allows new traders, investors, or buyers to explore the crypto industry and get started easily.
Each feature or service available on the platform is separated into sections, and you can visit each of them separately. Bitrue provides a small description of each section. There are even detailed guides and tutorials to help users understand how different things work. You can also read their FAQs to quickly solve your queries and move forward.
It does not matter if you are a beginner with no experience or an amateur trader in the learning phases; you can get started with Bitrue and learn everything on the go. It is unlikely you will be stuck anywhere as everything is simplified and probably has a guide available for it.
Exclusive benefits for BTR holders: BTR is the native token of Bitrue, and it comes with its own benefits that the users can claim just by holding it. Bitrue offers exclusive staking options to the BTR holders that usually offer more returns than the standard staking options available on the platform.
Just by holding BTR, you can earn up to 11% APR on popular assets like ETH or BTC. Users holding BTR also get voting rights on the platform that they can exercise to bring more assets to the platform of their choice. You can also reduce your trading fee with BTR and trade for a relatively lower price.
By investing in BTR, you are entitled to a lot of benefits that can enhance your experience on the exchange.
Things I Don't Like About Bitrue
Bitrue is not perfect. Check out the things that I don’t like about Bitrue below:
Below-par customer support: There is no live chat and phone support. They are also not very active on social platforms.
If you have a query or encountered a major problem, you need to submit a ticket and wait several hours for the support team to respond with a solution.
High buy/sell fees due to third-party payment merchants: Allowing users to easily and efficiently purchase and sell cryptocurrencies on the platform through third-party payment merchants is definitely a benefit. However, the fee that comes along with it is definitely not. Some merchants charge up to 8% fee for a single transaction, which is quite high and may not be affordable for many users. Be it credit cards, debit cards, or wire transfers, you have to pay a hefty fee to merchants so that your transaction can be process and you can buy the assets you want. To bring the fee down, Bitrue needs to provide their own payment methods.
Bitrue Fees
Bitrue Deposit Fees
Bitrue does not charge their users for crypto deposits.
Bitrue Trading Fees
Bitrue has a fixed trading fee for all the pairs available on the platform to trade. The assets that are paired with BTC, USDT, and ETH come with a flat trading fee of 0.098%. The assets paired with XRP come with a fixed trading fee of 0.32%.
Bitrue Fiat Withdrawal Fee
Fiat withdrawals on Bitrue are only supported through third-party payment merchants. You can receive fiat currencies directly in your local bank by paying a variable fee that might depend on the fiat currency you are withdrawing and the amount.
Bitrue Crypto Withdrawal Fee
Bitrue has set a different withdrawal fee for every crypto asset available on the platform. You can find out the withdrawal fee at the time of withdrawal or by visiting their fee page.
Pros and Cons of Bitrue
- Trade spot, ETFs, and futures
- 200+ crypto assets are available
- Earn through farming and staking
- Advanced trading interface
- Borrow crypto assets with collateral
- Not-so-good customer support
- High transaction fees due to third-party payment merchants
Summary
As a leading cryptocurrency exchange, Bitrue has proven time and again why they are here to stay in the blockchain industry and how they are going to bring a change. The best thing about Bitrue is that they are adapting to new technology, methods, and features that are now required by crypto users. They have not limited their traders to spot trading only but also provided them with the option to trade USDT futures and ETFs. The same case goes for the investment options as you can stake on the exchange, as well as earn through yield farming and create passive income streams.
Borrowing has also been made easier with the option to return the loan whenever you want. The beginner-friendly interface, premium trading layout, excellent security, and other features truly enable the platform to deliver on their promise.
Bitrue is not available in several locations, including New York and Texas in the US. If you are from New York or Texas and you want to find a suitable crypto exchange, have a look at our article on the top crypto exchanges in the USA. We have also included a quick comparison table below to help you with your decision.
Comparison Table of the Best Crypto Exchanges in the USA
Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk.
Frequently Asked Questions
Yes, Bitrue offers their services to users residing in the United States of America except for a few states, which include New York and Texas.
Bitrue is a safe, reliable, and trusted cryptocurrency exchange that was launched back in 2018. They have an average trading volume of over $1B, indirectly representing the number of traders on the platform.
Unfortunately, Bitrue was hacked back in 2019 when the platform was in its initial phases. But the platform offered a full refund to the users who lost their assets and made sure to tighten their security even further.
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