BitWell Review

BitWell Review

Robert McDougall 

July 18, 2022

Cryptocurrency

What is BitWell?

BitWell is the world’s leading cryptocurrency trading exchange. It allows users to trade a variety of crypto assets professionally and explore the world of blockchain through their platform. Their developer team focused on providing a fair, advanced, high-performance, and stable trading experience to their users. BitWell has chosen industry experts and web 3.0 professionals to manage and enhance the platform and serve their users like no one else. The platform takes security, regulation, and safety seriously.

With the variety of cryptocurrencies BitWell offers, traders can easily explore the spot market and choose between a comprehensive list of tradable assets to evaluate and trade every day. The platform also offers several investment opportunities that users can use and earn money with their digital assets through earning programs like staking, pools, saving accounts, and airdrops. BitWell is available in four different languages and supports users from all over the world. You can simply sign up and verify your details and access their services without any hassles.

  • Web Address: www.bitwellex.com
  • Main Location: Singapore
  • Cryptocurrencies: BTC, ETH, WELL, BNB, SHIB, CAKE, and 50+ more
  • Fiat Currencies: None
  • Mobile App: Available for Android & iOS devices
  • Payment Methods: Cryptocurrency only
  • Deposit Fees: Free
  • Withdrawal Fees: Depends on coin
  • Trading Fees: Spot trading: 0.10%, Options: 0.015/0.04% (maker/taker). Perpetual trading: depends on your account level

My Overall Thoughts on BitWell

BitWell is a crypto exchange that actually lives up to its name and delivers on its promise. They claim to be the world’s leading growth crypto-asset exchange that is revolutionizing the industry with their features, options, and functions. BitWell allows traders to trade spots as well as options and perpetual contracts. The platform offers 50+ cryptocurrencies that you can trade and expand your portfolio with.

Options like staking, saving accounts, liquidity pools, vaults, and airdrops allow the users to earn even more and benefit from the assets they already own. But there are a few specific things about BitWell that I think are the best and should be highlighted:

1) Diversity in markets and cryptocurrencies: BitWell supports over 50 cryptocurrencies and allows the traders to access the trade spot, options, and perpetual contracts at the same time. Traders can easily diversify their portfolios and check out different markets without any type of restrictions.

2) Fast, accurate, and professional trading interface: BitWell did not make any compromises with its trading layout and interface. Its countless options and features enhance user experience even more.

3) Variety of investment opportunitiesThere are a lot of ways you can earn on BitWell. You can stake your assets, provide liquidity to pools, deposit funds in saving accounts, claim rewards through airdrops, or buy WELL and deposit the assets in the vault for even better returns. You can opt for any of these options to start getting higher returns and earn money with your digital assets.

On the other hand, BitWell has compromised a little on their customer support system and the option to buy crypto assets with fiat currencies. These two are the things that BitWell has to work on to serve their users better.

Key Features and Advantages of BitWell

BitWell might not be the greatest choice for users who simply want to purchase or sell crypto assets due to the lack of buying and selling action. But if you are a trader who loves to explore a variety of cryptocurrencies and create diversity in your portfolio, BitWell is ideal for you. There are more than 50 crypto assets available on the platform that you can trade with using the professional and advanced tools available. If you want your digital assets to make money for you, check out the staking section to earn great yields.

You can also provide liquidity to BitWell’s pools and get rewarded accordingly. These types of options allow the investors to expand their portfolios much quicker by opting for the right type of investment activity. A simple and beginner-friendly outlook and layout make it easier for everyone to access the platform and use their services. Check out the complete list of BitWell services below:

Negatives and Disadvantages of BitWell

BitWell has done tremendously well for bringing great trading and investing features for their users, but they have also compromised on two things that can be quite important for most of the crypto community.

What Services Does BitWell Offer?

BitWell is a crypto platform that comes with a variety of next-gen services and features that can benefit the crypto community in a more efficient way. The features like staking, liquidity pools, airdrops, and voting allow the users to explore broader opportunities the blockchain industry offers. BitWell is definitely a great pick for trading, as they have brought a considerable number of digital assets to their platform. You can trade perpetual contracts or simply trade spots.

There are a lot of ways to earn money with BitWell through options like staking, saving accounts, and liquidity pools which can offer impressive returns in the end. Take a look below to find out the complete services of BitWell:

Trade spot and perpetual contracts: With its plain and simple trading mechanism, spot trading is quite popular among casual crypto traders. On the other hand, perpetual contracts allow the traders to trade with leverage and customize their positions. BitWell allows their traders to trade both spot and perpetual contracts on their platform.

You can choose which market would work out best for you. BitWell offers a great variety of tradable assets in their spot market. Perpetual contracts come with a relatively low variety but with more options and features to make your trades advanced and professional.

Whether you are a beginner or a pro trader; you get to trade just as you want with BitWell. There are no restrictions on how you trade, and you can always try out a new market for better understanding and results.

50+ cryptocurrencies are available to trade: There are more than 50 cryptocurrencies available on BitWell. These include the popular cryptocurrencies such as BTC, ETH, BNB, SHIB, CAKE, among others. 

Users can easily diversify their portfolios and explore the assets with new opportunities and risks. You can always have a new asset to trade that you can evaluate to determine if it’s a good fit for your investments.

You can also easily divide the cumulative risk by investing your money into multiple assets. Trading only a single or a few pairs would only make the situation worse if the asset you are trading goes sideways.

Stake and get higher returns: Staking is unquestionably one of the most efficient ways of investing your assets in the blockchain industry. BitWell allows their investors to stake their assets and earn money through them according to the provided plans. 

Usually, there are a lot of assets that you can stake on the platform. However, the variety depends on the pools available so that investors can participate and provide liquidity. Until an event ends, investors’ assets are locked, and they can only claim them along with the earnings afterwards. 

If you have cryptocurrencies sitting idly in your crypto wallets, you can stake them on BitWell and get good returns. Simply choose an asset to invest in, evaluate the returns, and make a deposit to start your investment journey.

Trade anywhere with mobile applications: BitWell has designed their own mobile applications that enable users to easily access all the features and functions provided by the platform. You can trade anywhere you want and anytime you want with the BitWell mobile apps.

BitWell mobile applications offer a full-fledged trading interface along with a professional layout. You can trade spot or perpetual contracts just as you want and opt for any asset. A detailed chart for market evaluation along with the necessary features are available to enhance your experience even more. You can also access your crypto assets from BitWell’s mobile applications and use the app as a crypto wallet. You always have access to your portfolio, even without a laptop or a desktop computer.

Mobile users can download BitWell's mobile applications on Android or IOS devices. BitWell also offers a direct downloading link.

Advanced trading interface and features: The BitWell trading interface comes with a variety of features and options that can enhance your overall experience and let you trade the way you want. The overall layout is very responsive, fast, and accurate, making it easier for traders to trade without any false information or data.

The best thing is that traders can customize the whole interface and add, remove, or enhance most of the things available. For starters, you can choose between a variety of timestamps and then evaluate the charts accordingly. You can check out the overview of each available asset to see its origins, supply, and other essential details. You can use indicators, go full-screen mode, and even check out the depth charts. BitWell also provides an order book along with a separate section to see your current orders, history, among others. On the left-hand panel is a list of all the assets available to trade so that you can quickly switch to the asset you want to trade.

BitWell did not compromise in designing the trading interface and went all out with the features. The platform’s accuracy, professionalism, design, convenience, and variety of features will not disappoint users.

Quick sign-up with the beginner-friendly interface: The BitWell registration process is simple, fast, and effortless, usually taking less than a minute. Users just have to provide an email address, the verification code sent to their email, and a password in order to register on the platform.

BitWell also comes with a beginner-friendly interface with easy-to-understand features. Each feature is separated by a section so that you do not have to deal with the complexities of other features. The trading interface comes with options that can be understood even by a beginner – all that’s needed is a little research and determination.

If you are a beginner and want to start your trading or investing journey with BitWell, you can sign up instantly on their platform and start using their services. Their beginner-friendly interface will help you go through all the phases with ease.

Earn with Well vault and saving accounts: Besides staking, BitWell has also introduced options like a WELL vault and saving accounts to let users invest their digital assets and earn money through them. The vault focuses on the platform asset known as WELL. By depositing WELL into the vault, users are rewarded with WELL at the end of the period, creating a strong ecosystem beneficial for the exchange.

Saving accounts allow the users to invest in stable cryptocurrencies and a few popular names that you might be holding. You can earn up to 15% APY with BitWell’s saving accounts which is quite good in case you are investing stable assets with no or minimal risk. The vault rewards vary depending on the pool size for that specific period and how much you have deposited.

With all these investment options, you have a lot of opportunities to earn on BitWell aside from just trading. You can go with any option that offers the best returns along with the ease you want. It is also a good idea to let your portfolio expand rather than sit idle.

Detailed guide books with tutorials: BitWell is generous in providing guiding content. Users can check these out to understand the basic concepts of the platform and learn how things work. There is a separate section for learning and guiding content consisting of guides, tutorials, articles, and much more.

The platform has also organized their guiding section by creating categories that the users can access. You can select the category that you want to learn about, which provides the relevant info according to your needs. 

It doesn’t matter if you are an absolute beginner with no knowledge about trading, investing, or the crypto industry. You can head to the college section of the platform and get access to all the info you need to get started right away.

Free airdrops with Candy Pool: Airdrops are probably the favorite for every crypto holder, as they are absolutely free. BitWell also offers their users free airdrops through their Candy Pool that are exclusively available to registered users of the platform.

Candy Pool consists of different crypto assets that are distributed among users, but they remain on the platform for a specific period or until all the coins are distributed. BitWell partners with new projects in order to provide free rewards to their users that they can later withdraw, trade, or hold.

There is no harm in getting something for free. The same applies to crypto assets, as the value of few assets you get now through airdrop might skyrocket in the future, offering you great returns.

Impressive referral and affiliate rewards: BitWell has a very impressive referral and affiliate program that lets users earn a great deal of money just by referring others to the platform. There are actually two separate programs, one for referrals, the other for partners which offer considerably more rewards for users.

If you want to keep things simple, you can earn up to 40% commission through your referral trading fee. Rebates are calculated every day and distributed to the users on the same day. In the partner program, you can earn up to a mind-boggling 80% commission depending on your account level and trading type.

If you can convince people to join BitWell, you can earn a passive income. Share your personalized link and, so that it doesn’t look like spam, tell them about the platform’s features and benefits to give them a reason to join.

Things I Don't Like About BitWell

BitWell is a great platform but there still are a few that you should keep in mind before you decide to sign up. Check out the negatives of the platform below:

Not the best customer support: You can find a lot of guiding content, a beginner-friendly layout, and other easy features at BitWell, but good customer support is definitely lacking on the platform. The platform does not provide live chat or phone support to help users solve their problems instantly. 

Instead, BitWell offers a request form that the users have to fill out and send every time they have a problem. This method is not only frustrating but time-consuming as well. It usually takes hours for the platform to reply to your complaint.

No crypto purchasing option: BitWell has no crypto purchasing option, which is one of the most crucial features for their users. They have not partnered with any third-party merchants to make crypto purchases possible. You can only deposit crypto assets into the platform from your external crypto wallet. 

If you do not own any cryptocurrencies, you first have to sign up with another exchange, buy crypto assets, and then transfer them into your BitWell account to proceed further. The whole process is time-consuming and costly due to high network fees.

BitWell Fees

BitWell Deposit Fees

BitWell does not charge their users for crypto deposits.

BitWell Trading Fees

BitWell has a fixed spot trading fee for their traders, which is 0.10% for makers and takers. For options trading, BitWell charges 0.015% from makers and 0.04% from takers. 

For perpetual trading, BitWell has a variable fee which changes according to your account level:

The maximum level that you can achieve at 0.070% is VIP 9. You can get further discounts by reaching the upper levels, making it even cheaper for you to trade.

BitWell Fiat Withdrawal Fee

Fiat withdrawals are not supported on BitWell.

BitWell Crypto Withdrawal Fee

The withdrawal fee at BitWell for cryptocurrencies varies depending on the asset. Each asset carries a different withdrawal fee which is charged at the time of withdrawal.

Pros and Cons of BitWell

Pros
  • Trade spot, options, and perpetual contracts
  • Professional trading interface
  • Advance mobile applications
  • Earn money through various ways
  • 50+ cryptocurrencies are available
Cons
  • Customer support is below average
  • Direct crypto purchases are not supported

The Verdict

BitWell offers all the features that a professional trader would want. Although a relatively new player, BitWell knows what the traders of the current generation require. Aside from providing different trading pairs like spot and perpetual contracts, they also offer diversity in their list of supported cryptocurrencies. Their mobile applications allow users to trade on the go anytime and anywhere they want.

You can also invest your digital assets with BitWell and get amazing profits at the end of the year. The guiding content and beginner-friendly interface are a few of the aspects that make BitWell a great choice for all types of traders and investors. As BitWell is a worldwide exchange, you can register on the platform without any restrictions and start using their services right away.

If you want to do some more research before signing up to a crypto exchange, have a look at this article on the best crypto exchanges. There is also a quick comparison table below to help you with your decision.

Comparison Table of the Best Crypto Exchanges in the USA

eToro
MEXC Global
Pionex
Coinmama
Uphold
Crypto Exchange
Crypto Exchange
eToro
MEXC Global
Pionex
Coinmama
Uphold
Fiat Currencies
Fiat Currencies
USD
USD, TWD, AED, PHP, AUD, JPY, CAD, EUR & more
USD, TWD
USD, EUR, AUD, CAD, GBP, JPY
USD, GBP, EUR, CHF, AUD, JPY & 21 more
Cryptocurrencies
Cryptocurrencies
BTC, ETH, BCH, XRP, DASH, LTC, ETC, ADA & 75 more
MEXC, BTC, ETH, EOS, BCH, LTC & 1,520+ more
BTC, ETH, LTC, SOL, DOT, TRX & 120+ more
BTC, ETH, ETC, UNI, LINK, LTC, BCH, DOGE, MATIC, EOS, AAVE, COMP, OMG, YFI, WBTC
BTC, ETH, ADA, DOGE, COMP, DOT & 125+ more
Deposit Methods
Deposit Methods
PayPal, Debit card, Credit card, Wire transfer, Online banking
Visa/Mastercard, Bank Cards, Bank Transfer, Apple Pay, Google Pay, Cryptocurrency
Credit card, Cryptocurrency
Credit card, Debit card, Fedwire, Apple Pay, Google Pay
Bank Transfer (ACH), Bank Transfer (SEPA), Debit/Credit Card, Wire Transfer, Faster Payments Service, SWIFT, Cryptocurrency
Trading Fees
Trading Fees
1%
0.2% for spot, 0.02%/0.06% for futures
0.05%
2.93% - 3.90% (depending on loyalty level)
Fees included in the spread

eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. "Virtual currencies are highly volatile. Your capital is at risk."

Frequently Asked Questions

Is BitWell available in the US?

Yes, residents in the US can register on BitWell and access all the features available on the platform. Verify your details first to unlock all the features and functions of the platform.

Is BitWell a reliable and safe crypto exchange?

BitWell is certainly a safe and reliable crypto exchange as they ensure full-on security and privacy through various methods. Your funds are also protected through cold storage wallets that offer additional protection.

 How many cryptocurrencies are available at BitWell?

There are more than 50 cryptocurrencies available at BitWell. These include BTC, ETH, SHIB, WELL, and many other popular ones that you can trade right away.

Marketplacefairness.org provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade or sell cryptocurrency or use any specific exchange. Please do not use this website as investment advice, financial advice or legal advice, and each individual's needs may vary from that of the author. This post includes affiliate links with our partners who may compensate us. 

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