Bitexen Exchange Review

When I first heard about Bitexen, I was intrigued. It’s not the first name that pops up when you think of major exchanges like Kraken, MEXC, or Uphold, but it has garnered attention, particularly in Turkey. As I started digging deeper into this Bitexen exchange review, I realized there’s more to this platform than meets the eye.

So, I’m sharing my findings, from its features to security, and everything in between. In this Bitexen exchange review, I’m sharing what I found, including insights into its features, security, and overall usability. Let's dive into what makes Bitexen tick and if it deserves a spot in your trading routine.

Bitexen Review: Quick Overview

In this Bitexen exchange review, I’ll quickly cover the most important features and details about the platform. If you’re considering using it for your crypto trading needs, it’s helpful to get an overview of what the exchange offers at a glance. Below, you’ll find a quick summary of Bitexen’s key aspects to guide you through the basics.

Table: A quick overview of Bitexen

With a clearer view of the platform's features, let’s move on to a more detailed exploration of its offerings and see how Bitexen stacks up against other exchanges.

Bitexen Exchange Alternatives

Bitexen offers solid functionality and a strong focus on the Turkish market, but there are other exchanges worth considering that provide more features and global reach. Here are some strong alternatives to explore:

• Kraken: Kraken stands out with its comprehensive selection of cryptocurrencies, advanced trading tools, and strong security measures. Its global availability and wide range of fiat currencies make it a top choice for users looking for a robust exchange focusing on regulatory compliance.
• MEXC: MEXC is a highly versatile exchange known for its extensive cryptocurrency offerings, competitive trading fees, and multiple languages. It’s especially appealing to users interested in trading a variety of altcoins and looking for a platform with an international reach.
• Uphold: Uphold provides a broad range of assets beyond cryptocurrencies, including equities and forex, making it suitable for users who want to trade more than just digital currencies. The platform’s easy-to-use interface and security features make it a reliable choice for both beginners and experienced traders.

Looking at these alternatives, each has its own strengths, so depending on your trading needs and location, one of these exchanges might be a better fit than Bitexen.

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Who’s Bitexen Exchange For?

Bitexen is ideal for users with specific trading needs, especially if you're looking for a platform that offers competitive fees and an easy-to-navigate environment. Below are the types of users who will find Bitexen to be a suitable choice:

• Beginner users: Bitexen is a great option for newcomers to cryptocurrency trading. The platform is easy to use and focuses on providing a simple experience for users who don’t need complex features.
• Casual traders: For those who trade occasionally and don't require advanced tools, Bitexen provides a straightforward way to buy, sell, and hold cryptocurrencies.
• Cost-conscious traders: With competitive trading fees, Bitexen can be appealing to users who are looking to keep their transaction costs low.
• Users prioritizing local support: Bitexen's customer service and focus on the Turkish market make it an excellent choice for users who want to interact in Turkish and have services tailored to their region.

Bitexen exchange suits those who prioritize local fiat support and a simple, easy-to-use platform over more advanced trading features. However, if you’re based outside Turkey, you might want to explore other platforms with more global accessibility, like Bitexen Global.

Advantages

A solid crypto exchange needs more than just basic trading—it should offer strong security, a good selection of assets, and an intuitive experience. After going through Bitexen’s features, I found several advantages that stand out.

• Supports more than 350 cryptocurrencies;
• Security measures validated by Kaspersky;
• Quick Buy/Sell feature;
• Internal Transfer for instant and free transactions;
• Bitexen Research tab for market insights.

Having access to multiple tokens is always a plus. Bitexen supports over 350 cryptocurrencies, including Bitcoin, Ethereum, and various altcoins. This variety gives traders more flexibility when diversifying their portfolios.

Security is a major concern for any crypto user, so I looked into whether Bitexen is safe. The platform underwent a full security audit by Kaspersky, which gave it a clean bill of health.

I also liked the Bitexen Research tab, which provides valuable market insights. The Morning Bulletin keeps traders informed about current market trends, while coin review articles offer deeper analysis. It’s a useful tool for anyone wanting to stay updated about crypto news without switching between multiple sources.

Moreover, the Quick Buy/Sell feature makes transactions easier. Instead of navigating through complex order books, users can buy or sell assets instantly, which is ideal for those who just want fast trades without manual adjustments.

Bitexen also offers an Internal Transfer feature, allowing users to send crypto instantly to other Bitexen accounts without any fees or waiting for network confirmation.

Therefore, moving funds between accounts is seamless and more efficient.

Limitations

No exchange is perfect, and Bitexen has a few areas that could use improvement. While it offers solid security and a range of features, some limitations might affect certain users.

• Only supports Turkish lira for fiat transactions;
• Customer support is limited to English and Turkish.

One of the biggest drawbacks is that Bitexen only supports Turkish lira (TRY) for fiat transactions. If you’re looking to deposit or withdraw in USD, EUR, or other major currencies, you’re out of luck. This makes the platform less convenient for international users.

Customer support is also limited to English and Turkish, which could be a barrier for traders who prefer other languages. While response times are quick, multilingual support would make the platform more accessible.

Fees and Limits

Crypto exchanges charge different fees, and understanding these costs is key to managing your trading expenses. Bitexen Exchange follows a tiered structure where trading fees can be reduced based on token holdings. Here’s a breakdown of Bitexen’s fees and limits:

Table: Overview of the Bitexen’s fees and limits

Bitexen offers some unique fee structures, especially for users who hold Bitexen tokens. Here are a few more details regarding the different fees on the platform:

• Maker Fee. Makers, who provide liquidity by placing orders on the order book, are charged a lower fee of 0.075%. The discount applies with a higher balance of Bitexen coin (BTXN).
• Taker Fee. This is the fee for users who take liquidity from the order book. It’s a standard rate for most crypto exchanges and is reduced if you hold BTXN.
• Fiat Deposit Fees. Depositing fiat via wire transfer or credit card may incur additional charges. For Turkish users, these deposits are processed through local banks, facilitating easier transactions.
• Fiat Withdrawal Fees. Withdrawing Turkish lira (TRY) is generally free, but fees may apply depending on the bank or method used. The minimum withdrawal is 50 TRY, which ensures small withdrawals remain accessible.
• Crypto Withdrawal Fees. These fees vary depending on the specific cryptocurrency and the network it uses for withdrawal. The costs are adjusted according to network conditions.
• Deposit and Withdrawal Limits. Bitexen places daily and monthly limits on deposits and withdrawals in TRY. Users can deposit up to 2,000,000 TRY in 24 hours, with a 30-day limit of 10,000,000 TRY. Withdrawals have similar limits, allowing up to 2,000,000 TRY in a 24-hour period.

Trading on Bitexen comes with flexibility, especially for users who hold platform tokens. With fee discounts and a structured buyback system, the platform offers incentives for frequent traders.

Security

Security is a key factor when evaluating a crypto exchange. Traders need to know if their funds and data are protected against cyber threats. So, is Bitexen safe, then? Well, the platform has taken multiple steps to ensure security, but it’s important to examine the details. First, a full system audit was conducted in 2020 by Kaspersky.

The test covered Bitexen’s website, iOS app, and Android app. No major vulnerabilities were found, which suggests that Bitexen had strong security measures in place at the time.

The exchange’s security team includes system architects and digital security specialists with years of experience. They designed the platform to withstand external and internal cyber threats.

During testing, unauthorized attackers attempted to exploit vulnerabilities from both external sources and authenticated user accounts. Bitexen successfully resisted these simulated attacks, reinforcing confidence in its security infrastructure.

Moreover, the exchange fully complies with the cryptocurrency market regulations determined by Turkey's Ministry of Finance's Financial Crimes Investigation Board (MASAK) and the Capital Markets Board (SPK), which adds an extra layer of oversight and regulation to the platform.

The former, Turkey's financial intelligence unit, enforces anti-money laundering laws^[1] to make sure exchanges follow strict compliance measures. Meanwhile, SPK regulates financial markets, including cryptocurrency-related activities, to maintain transparency and protect investors.

Customer Support

Reliable customer support can make a big difference when using a crypto exchange. Bitexen exchange reviews mention that the platform provides 24/7 customer service through email and social media, including X. Having around-the-clock support is a plus, especially for traders who need urgent assistance with transactions or security concerns.

Response times are relatively quick. When I reached out via X, I received a reply in under five minutes. That kind of speed is impressive compared to other exchanges that can take hours or even days to respond. Email responses may take longer, but users generally report timely and helpful replies.

A prompt first response can make a big difference, especially when it feels personalized. Even a brief acknowledgment reassures users that their issue is being addressed,^[2] reducing frustration while they wait for a resolution. Bitexen seems to understand this, which likely contributes to higher satisfaction with its customer support.

One downside is the language support. Currently, customer service is only available in English and Turkish. Users who prefer other languages might struggle to communicate effectively with support agents. This limitation could be frustrating for international traders who expect multilingual assistance.

User Experience

A smooth and intuitive user experience can make a crypto exchange stand out. From what I’ve seen, Bitexen keeps things simple with a clean design and an easy-to-navigate interface. Whether using the web platform or mobile app, I didn’t have trouble finding key features like trading pairs, deposit options, or security settings. The layout feels straightforward, which is great for beginners.

Bitexen offers trading pairs for BTC, TRY, and USDT, making it easy to swap between these currencies.

For quick transactions, the Quick Buy/Sell feature allows instant purchases or sales across 350+ digital assets, which makes trading more seamless. Plus, Bitexen’s Internal Transfer feature lets users send crypto instantly to other Bitexen Global accounts without network confirmation or fees, making transfers even more convenient.

One thing I found interesting is the Bitexen Research tab. It’s a nice addition that provides access to the Morning Bulletin, which gives a snapshot of the latest market conditions. There are also coin review articles and other crypto-related insights. I like having that kind of information in one place instead of having to check multiple sources.

That said, I did notice a small issue with the homepage banners. The promotional banner remained in Turkish even after setting the app to English. It’s not a dealbreaker, but it does take away from the personalized experience.

Localization and Regional Adaptability

Bitexen operates under two separate platforms: Bitexen and Bitexen Global. Both share the same domain name but differ in their subdomains, language support, and target audiences.

Bitexen (bitexen.com) primarily serves the Turkish market, with a user interface in Turkish and business offices in Istanbul. Bitexen Global (global.bitexen.com) is designed for international users, offering an English-language interface and business headquarters in Lithuania.

Since this is a Bitexen Exchange review, I keep repeating that the platform focuses on its accessibility for users in Turkey. The platform is tailored for the local market, with TRY as the only supported fiat currency. This makes it a convenient choice for traders in Turkey.

For international traders, Bitexen Global offers a separate platform with services available in English and a broader international focus.

How to Use Bitexen Exchange

To start using Bitexen, you’ll need to follow a few straightforward steps, from setting up an account to navigating the platform. Here’s a quick guide to get you started:

How to Create a Bitexen Account

Follow these steps to set up your profile and gain access to the platform’s trading features.

Step 1: Go to the Bitexen website or open the Bitexen mobile app. In this guide, I'll use the website as an example.

First, click on the [Create Account] button on the top right of the webpage or the [Sign Up] button in the app. Fill in your email address and password.

Step 2: Check your email inbox for a verification message from Bitexen. Open the message and click the [Verify Email Address] button to confirm your email address.

Step 3: Sign in to your account once your email is verified. A pop-up will appear asking for your mobile phone number. Enter the number and click [Approve].

Step 4: To start trading, you need to complete the Bitexen KYC process. On the Bitexen website, click on your name at the top-right corner, then select [Settings] from the dropdown menu. On the mobile app, tap on the settings icon on the homepage and select [Account Not Verified].

Step 5: Click on the [ID Verification] field. Use your device’s camera to scan your ID or upload a passport picture. Complete the liveness verification process on the same screen.

You've now completed the Bitexen KYC step and are ready for transactions!

How to Deposit on Bitexen

Now that your Bitexen account is set up, it's time to make a deposit. Here are the easy steps to deposit into your Bitexen wallet:

Step 1: Go to the Bitexen homepage on your browser or open the mobile app. Click on the [Accounts] section, then select [Deposit].

Step 2: On the page that opens, select the cryptocurrency you want to deposit. You’ll see the option to [Deposit Money] for that specific currency.

Step 3: A new screen will open, showing you your unique wallet address for the selected cryptocurrency. If you don’t have an address yet, click on [Create a New Address] to generate one for the currency you want to deposit.

Step 4: Copy your wallet address and go to the platform or wallet from which you want to send the cryptocurrency. Paste the address in the relevant field to complete your transfer.

Once your transfer is confirmed, the funds will appear in your Bitexen account. Enjoy trading!

How to Withdraw From Bitexen

Let’s walk through the steps to withdraw cryptocurrency from your Bitexen account to another wallet.

Step 1: Log in to your Bitexen account.

Step 2: On the homepage, click the [Accounts] menu and select the [Withdraw] section.

Step 3: Choose the cryptocurrency you want to withdraw from your account.

Step 4: Enter the recipient’s wallet address in the field provided. If needed, add the memo tag for certain cryptocurrencies. Double-check that the wallet address is correct to avoid errors.

Step 5: Select the amount you wish to withdraw. If you want to withdraw your entire balance, simply click the [+] button to auto-fill the amount.

Step 6: Complete the process by clicking the [Withdraw] button.

After that, your withdrawal will be processed, and the funds will be transferred to the provided wallet address.

Comparison to Other Popular Exchanges

Bitexen has its strengths, but how does it measure up against other well-known platforms? Let’s take a closer look at how it stacks up against some of the biggest names in the industry.

Bitexen VS Kraken

Kraken is one of the longest-standing crypto exchanges, known for its extensive fiat currency support and deep liquidity. One of the biggest differences between Bitexen VS Kraken is the fiat currency support.

Kraken allows deposits and withdrawals in multiple currencies, including USD, EUR, GBP, CAD, and more. Bitexen, though, only supports the Turkish lira for fiat transactions.

In terms of crypto offerings, Kraken provides access to over 350 cryptocurrencies and numerous trading pairs, giving users more options for diversification. Bitexen’s selection is similarly extensive.

It also features a Quick Buy/Sell function for instant transactions, which can appeal to beginners. However, Kraken’s high liquidity and various markets make it a better fit for experienced traders looking for advanced trading options.

Fees are another key difference. Kraken’s trading fees range from 0% to 0.40%, depending on whether you’re a maker or taker and your 30-day trading volume. Bitexen’s fees start at 0.075% for makers and 0.125% for takers, with potential discounts based on Bitexen token holdings. Both exchanges offer competitive rates, but Kraken’s fee structure might be more appealing for high-volume traders.

When it comes to withdrawals, Kraken’s fees vary widely depending on location and payment method. For example, withdrawing USD with an American bank account costs $5, but without one, it jumps to $60. Crypto withdrawals are generally lower, with Bitcoin withdrawals costing 0.0005 BTC. Bitexen’s withdrawal fees depend on the asset and blockchain used, making it harder to compare directly.

📚 Read More: Kraken Review

Bitexen VS MEXC

MEXC and Bitexen cater to different types of traders. The former is a globally focused exchange with a massive selection of cryptocurrencies and advanced trading tools, while the latter primarily serves a simpler approach to crypto trading. Both platforms have strengths, but their target audiences and feature sets make them quite different.

One of the biggest differences is the variety of cryptocurrencies available. MEXC supports nearly 3,000 digital assets, including many newer and lesser-known tokens that might not be listed elsewhere. Bitexen offers a decent selection but focuses more on well-established cryptocurrencies. For those who prioritize access to a vast range of altcoins, MEXC is the better choice.

Another area where MEXC stands out is its international reach. With support for multiple languages and availability in 170+ countries, MEXC offers a global platform that accommodates a wide range of users.

In contrast, Bitexen is more regionally focused, primarily serving users in Turkey. MEXC’s broad availability makes it a good choice for traders around the world, whereas Bitexen's local support and fiat integration with Turkish lira provide a more convenient option for those in Turkey who prefer a simpler experience.

Additionally, MEXC’s integration with TradingView provides advanced technical analysis tools, catering to more experienced traders. While clean and easy to navigate, Bitexen’s interface lacks such advanced features. For beginners or those who prefer a more straightforward approach, Bitexen’s design might be more appealing, but for seasoned traders, MEXC’s tools and analytics could provide a significant edge.

📚 Read More: MEXC Review

Bitexen VS Uphold

Uphold provides a broader range of assets beyond cryptocurrencies, including equities, stocks, and forex, whereas Bitexen focuses exclusively on digital asset trading. Those looking for a multi-asset platform might lean toward Uphold, while users interested in crypto-specific trading tools could find Bitexen more appealing.

Trading fees play a significant role when choosing between the two. Uphold fees vary based on the cryptocurrency, location, and transaction type, ranging from 1.4% to 2.95% for crypto trades and up to 3.99% for deposits and withdrawals. Conversely, Bitexen fees are structured around crypto transactions, potentially offering a more predictable cost for users who primarily trade digital assets.

Security and regulation differ significantly between the two exchanges. Uphold is registered in the US, UK, and EU, adhering to regulations from FinCEN, the FCA, and other financial authorities. It has also obtained SOC 2 Type 1 and ISO 27001 certifications, demonstrating a commitment to high-security standards.

📚 Read More: Uphold Review

Pros

• Secure and reliable
• Low fees
• A good amount of fiat currencies accepted

Main Features

• Reputable exchange
• Multiple fiat currencies are accepted
• Relatively low trading fees

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Pros

• Fiat currencies - accepted
• Simple to use
• Accepts only the most trustworthy cryptocurrencies

Main Features

• A leading cryptocurrency exchange platform
• Best for beginner investors
• Accepts fiat currencies

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Pros

• Fully reserved and transparent
• Multiple tradable asset classes
• Early new token support

Main Features

• 265 supports cryptocurrencies
• Secure & transparent
• Fully reserved

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Conclusions: Is Bitexen Exchange Right for You?

As we're coming to the end of this Bitexen exchange review, I’ve covered the platform's unique features, ease of use, and limitations. Bitexen primarily serves the Turkish market with a focus on TRY deposits and withdrawals, which may not appeal to international traders relying on other fiat currencies.

As for security, Bitexen ensures a solid infrastructure, so if you ask: is Bitexen safe for users? Well, it adheres to industry-standard practices, but it's always important to consider your personal risk tolerance.

The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor.

Scientific References

1. B. G. Oral, & Y. Yeşilkaya: 'Kripto Para İkilemi: Karapara Aklama Ve Bitcoin';

2. M. Robert & M. Melissa: 'Customer Inquiries and Complaints: The Impact of Firm Response Time to Email Communications'.