Bitrue Review

If you're feeling overwhelmed with the numerous crypto exchanges out there, I might have the right option for you. In my Bitrue review, I'll introduce you to an exchange platform that could offer services that might fit your needs.

So, what is Bitrue? It’s a user-friendly exchange offering a secure platform for various crypto-related activities like spot trading, staking, futures, and more. But how does it stack against popular names like Binance, Bybit, or Kraken? Let's delve into that throughout this Bitrue exchange review.

Verdict at a glance: Bitrue is a reliable exchange platform offering various features for trading a wide range of cryptocurrencies and their derivatives. While it has made significant improvements to its security measures, it has had some breaches in the past. Also, Bitrue exchange USA users will find its features limited due to regional restrictions.

What is Bitrue?

Let's kick off my Bitrue review by talking about the basics. What exactly is Bitrue? Bitrue is a centralized cryptocurrency exchange known for its comprehensive trading features and earning programs.

Where is Bitrue exchange located? It’s a Singapore-based platform that offers services to people worldwide. The team operates across offices in Europe and Asia, and it has a dedicated 24/7 security team to safeguard your assets.

Bitrue core team isn't just passionate about technology; they're experienced professionals with a wealth of knowledge in security, cryptography, finance, and more. Together, they form the foundation of Bitrue's operations and are committed to creating financial opportunities in the cryptocurrency and digital economy.

Bitrue is dedicated to ensuring the security and protection of its customers. With features like a multi-level clustering structure and a highly secure cold wallet, the platform promises its clients’ funds are always safe.

Moreover, Bitrue focuses on the spot market and allows users to trade a wide variety of cryptocurrencies directly. The platform also offers advanced features and opportunities to potentially earn from its various products, such as futures trading and high-yield staking.

Additionally, Bitrue has its own native token, the Bitrue Coin (BTR). It's designed to provide support for a range of Bitrue services, such as trading fee discounts, voting on listings, wealth management initiatives, and loan programs.

Bitrue Review: PROS

Now that I've talked about what Bitrue is and where Bitrue exchange is located, let's dig into what makes the platform neat! As I've been checking out the exchange, I've noticed a few standout features worth mentioning in my Bitrue review. Here are some of them:

Multi-Layered Security Measures

Is Bitrue safe? A question a lot of users seem to have. It looks like Bitrue understands the importance of security when it comes to handling your digital assets. The platform has implemented multiple layers of security to ensure that it's a safe and reliable place to conduct crypto activities.

First, Bitrue uses a robust storage system to keep your funds offline and secure. Its multi-signature cold wallet protocol requires several team members to approve transactions. This mechanism is put in place so you don’t have to worry about anyone accessing your funds without authorization.

Bitrue also allows you to add an extra layer of security by setting up two-factor authentication (2FA) with your mobile number or Google Authenticator. Using this method gives you additional protection by asking for two forms of identification before you can access your accounts.

As a result, even if someone gets your password or you lose your phone, it's highly unlikely that they will attain access to your account. It's a simple method to implement that makes it much harder for unauthorized people to access your accounts^[1]. Therefore, giving you a greater sense of security and peace of mind.

Bitrue also takes transaction security seriously by requiring its users to complete the Know Your Customer (KYC) process. It's also worth noting that without finishing the KYC steps, you won't gain access to the platform's core features.

That said, you need to complete two levels of verification. The first level requires your personal information and contact number. This unlocks the platform's basic features, such as depositing, withdrawing, and trading crypto.

For more advanced tools like fiat trading, you'll need to complete the second verification level. This involves providing your personal identification, such as a passport, driver's license, or national ID.

By completing these verifications, you'll help Bitrue reduce money laundering, scams, legal risks, and other financial frauds. It also makes it so the platform can focus on improving conversion rates, speeding up transactions, ensuring compliance, and enhancing security protocol^[2] even further.

In addition, as of April 2023, Bitrue USA had to pause its core services in the region due to regulatory uncertainty. Hence, the Bitrue KYC verification USA process was disabled, limiting access to most of the platform’s features.

The application also has an IP whitelisting feature that ensures only pre-approved devices and IP addresses can make withdrawals. This protocol makes sure that if someone gets hold of your account credentials, they won't be able to withdraw funds, unless they use an approved device and IP address.

Another notable safety measure worth highlighting in my Bitrue review is the email safety codes. These codes are displayed at the top of sensitive emails from the official Bitrue account.

You can cross-check these codes with those associated with your account and change them through your page whenever you want. If you ever receive an email without the correct code, it's a sign that it might be a phishing attempt, and you can take immediate action to protect your account.

Regarding phishing attempts, Bitrue also has a neat feature called “Bitrue Verify”. With this feature, you can quickly check if a link, email, or social media post is really from an official source. It’s a simple tool to use for added protection against scam attempts.

Finally, for that extra peace of mind, Bitrue claims to have a separate insurance fund containing millions of XRP and BTR tokens.

In the rare event of a security issue caused by Bitrue, these funds will be used to compensate affected users. This insurance covers all your crypto assets on Bitrue, no matter where they are or what form they're in – whether it's in your account balance or Power Piggy investments.

So, is Bitrue safe? After examining its multi-layered security features and protocols, I’m convinced that the platform provides a secure space for your crypto transactions. Bitrue's security measures, such as 2FA login, cold wallet storage, and IP whitelisting, offer reliable protection for your assets.

However, if you're still worried about security, consider using a trusted hardware wallet such as the Ledger Nano X or Ledger Nano S Plus for extra protection. Unlike online wallets, hardware wallets store your private keys offline, making them immune to viruses and internet hacking.

Diverse Coin Selection

Another key advantage I want to highlight in my Bitrue review is the platform's inclusive approach.

The platform offers a diverse selection of over 700 crypto assets. This wide array of coins means that whether you're into big names like Bitcoin and Ethereum or interested in more niche altcoins, Bitrue has something for everyone.

Its variety of assets not only gives you plenty of options but also helps you lower your risk by spreading your investments. With a mix of different assets, Bitrue can help you build a balanced crypto portfolio that aligns with your investment goals.

While this platform may not be the largest crypto exchange, it supports a diverse range of currencies, making it both reliable and versatile. This inclusivity makes Bitrue a good choice for any level of crypto enthusiasts, providing a dependable platform for trading and managing your assets.

Comprehensive Trading Features

I also find that Bitrue has something for everyone, whether you're new to trading or a seasoned pro. Its user-friendly interface and comprehensive trading functions foster a sense of flexibility. In this section of my Bitrue review, I want to discuss some of these remarkable features.

Bitrue spot lets you trade more than 1,000 pairs of cryptocurrencies. This diversity means you can easily buy and sell different digital currencies and keep up with what's happening in the market.

Another advantage of Bitrue is its support for exchange-traded funds (ETFs). These ETFs track the daily fluctuations of specific assets, allowing you to potentially make more significant profits or losses without needing to put up extra collateral.

This option unlocks the opportunity to spread your investments across different assets without needing to manage each separately on different platforms.

That said, it's important to know that ETFs come with some risks. An ETF's value could drop to nothing, or the product could be taken off from the exchange. These risks come from how the market changes, high fees, and sudden price fluctuations, among other things.

Copy trading is one more feature that deserves attention in my Bitrue review. This tool allows you to mirror the trades of more seasoned traders in real time. By finding a person with a successful history, you can start replicating their method immediately. However, this feature is more than just a tool for copying trades. It also serves as an educational resource for beginners.

Remember, when you follow an experienced trader and copy what they do, you're stepping into a world of potential profits and losses. The system mimics the person's actions without you having to do anything manually. But just keep in mind that there's a chance of both making a profit and experiencing losses with this method.

Leveraged trading is another tool available on Bitrue. It allows you to participate in futures trading without needing a large amount of capital.

Here's how it works. By depositing an initial amount, you can leverage trade size by borrowing funds against your deposit. Doing so can amplify potential profits, but it's crucial to be aware that it also carries the risk of liquidation if the deposit amount falls below the required level.

It’s also worth noting that most of Bitrue's futures contracts are perpetual, meaning they have no expiration date. This derivative contract allows you to hold your positions for as long as you choose, giving you increased liquidity and flexibility in your strategy.

On top of that, Bitrue offers different order types to suit your trading style. A limit order lets you set a specific price for buying or selling. Just keep in mind that it doesn't guarantee execution.

On the other hand, a market order gets processed immediately at the best available price, but it may result in slippage.

If you're interested in more advanced trading, Bitrue also offers limit and market take profit/stop loss orders to help you manage risk and secure profits. These features allow you to set automatic exits for your positions at specific price points.

As you can see, Bitrue provides a range of trading tools that can benefit both new and experienced users. The platform wants to demonstrate how accessible it can be to earn from crypto, especially with the next feature.

Easy Staking With Power Piggy

If you're a beginner and looking for a user-friendly option, Bitrue's Power Piggy can be a great place to start. This service simplifies the staking process by offering daily interest payments directly into your account.

With no lockup periods, you have the freedom to invest without any restrictions. You can withdraw your coins whenever you want and trade them in exchange.

This freedom is neat for beginners who want to try staking without any long-term commitments and experienced traders who value flexibility.

With support for over 100 coins and more being added all the time, you can earn competitive interest rates on various cryptocurrencies.

You can expect an annual rate starting from 23%. That said, if you use Bitrue's native token, BTR, you can potentially boost that annual interest rate up to 27%. This is a compelling reason to consider using the native asset if you plan to utilize the exchange for a long time.

As I explored Power Piggy for this Bitrue review, I found the process to be quite simple. All you have to do is deposit your coins into Power Piggy and then wait. You'll start earning interest without dealing with the complications of traditional staking.

For those interested in making longer-term investments, Bitrue also offers a regular staking service. This means that, like with the Power Piggy, you delegate your coins for a specific period in exchange for higher rewards.

While your assets are locked, you can earn even more compared to the daily interest from Power Piggy. However, if you need to access your assets before the lockup period ends, you can withdraw them early, but you won't receive any interest for the time they were staked.

All in all, I find Power Piggy to be a simple and accessible option for earning passive rewards. Its flexibility allows you to maximize market opportunities without being tied down by long lockup periods. I think it’s a valuable feature for both beginner investors and seasoned traders, making it a standout aspect worth mentioning in every Bitrue review.

Bitrue Rewards Center for Potential Extra Fundings

One more feature I must highlight before concluding my Bitrue review pros section is its reward center. It's a relatively low-risk and enjoyable way to earn rewards.

With this feature, you can take on various tasks to earn trial funds for staking or futures and cash rewards. The center is designed to help new users become familiar with the platform and keep experienced ones motivated and engaged.

For instance, take the "Newcomer Benefits" tasks. By completing activities like your first deposit or first spot trade, you get to know the platform's key features and kickstart your crypto journey. These missions are designed to make your initial steps into the crypto world enjoyable by using Bitrue rewarding.

When you're comfortable with the basics, you can explore more advanced opportunities like future tasks. That said, keep in mind that you'll need to complete the KYC verification process before you can claim any trial funds. Once verified, you can dive into the tasks and earn rewards.

All the features I've highlighted in my Bitrue review are designed to simplify trading for everyone, not just beginners. The platforms offer a wide range of supported coins, comprehensive tools, and a user-friendly staking protocol. As a result, it is a robust all-in-one trading platform that is worth giving a shot.

So, is Bitrue a good exchange for crypto trading? Before deciding, let’s explore its cons in the next part of my Bitrue exchange review.

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Bitrue Review: CONS

Bitrue has a lot of great features and benefits, but it does have its drawbacks. It's important to take a close look and see if the platform meets your specific needs and expectations. In this part of my Bitrue review, let's look at some areas where it may not be the best option for certain users.

Experienced Security Breaches in the Past

Despite Bitrue's robust security measures, the company has unfortunately experienced security breaches.

In June 2019, there was a vulnerability in the system that led to a significant hack, resulting in the theft of approximately $4.2 million worth of XRP and ADA from about 90 users. Bitrue responded promptly by promising to reimburse all affected customers.

However, in 2023, Bitrue faced another hacking attempt, this time targeting one of its hot wallets. The attackers managed to withdraw assets worth approximately $23 million in ETH, QNT, GALA, SHIB, HOT, and MATIC. Fortunately, Bitrue's swift response and the team's efforts successfully prevented further exploitation of the funds.

These security incidents have understandably raised concerns among potential users, leading them to ask questions like, "Is Bitrue a good exchange for secure trading?" or "Is Bitrue safe for conducting crypto transactions?".

In response, Bitrue has implemented several improvements to strengthen its security measures. This includes a new multi-signature wallet with an integrated insurance fund that surpasses the value of hot wallet holdings at any given time.

While Bitrue prioritizes security, it's crucial for users to also remain vigilant. Consider this a reminder to always take appropriate security measures to protect your crypto investments on any platform.

Not Supported in Many Countries Including USA

While Bitrue offers a wide range of features and services, it's unavailable in certain regions. The usage of their platform is restricted in several countries, including the United States, Hong Kong, Japan, Korea, and a few others.

Additionally, users from countries subject to economic and trade sanctions or those listed by the US Department of Treasury's Office of Foreign Assets Control (OFAC) cannot access Bitrue’s core services. These include Iran, North Korea, Syria, and Cuba, among others.

It's worth noting that some users in the United States can still sign up for Bitrue USA accounts. However, they face significant limitations as they cannot complete the Bitrue KYC verification USA process.

From what I've learned during my research, this often leads to confusion. It's pretty common to find questions like, "Where is Bitrue exchange located?" as users are often confused about whether the platform is based in the USA.

For clarity, the company's headquarters are in Singapore. In addition, Bitrue exchange USA support has been paused since April 2023, with no information available on when or if it will resume.

All in all, while Bitrue offers a comprehensive platform for crypto trading and investment, its history of security breaches may concern some users. Additionally, its features are restricted in several regions, including the USA. This prompts users to seek alternative exchanges to meet their cryptocurrency needs.

Given these limitations, especially if you're based in the USA, you might find it more practical to consider other platforms like Binance, Kraken, or Bybit. These exchanges are fully available in the USA and offer similar functionalities, ensuring you can manage your crypto assets without the restrictions imposed by Bitrue USA.

Bitrue Exchange Price Structure

Now that I’ve covered the pros and cons in my Bitrue review, let’s delve into the fee structure - an essential factor when deciding whether you want to use the platform.

Bitrue offers a straightforward and competitive pricing model for its users. For regular users, the spot trading fees are as follows:

• BTC, ETH, and USDT trading pairs: 0.098%;
• XRP/BTC, XRP/USDT, and XRP/ETH pairs: 0.196%;
• Other XRP trading pairs: 0.280%.

Note that if you’re using BTR, you get a 20% discount on transaction fees. As for futures trading, the fees are as follows:

• USDT pairs: a taker handling fee of 0.07% and a maker handling fee of 0.038%;
• Coin-M pairs: a taker handling fee of 0.07% and a maker handling fee of 0.038%.

Bitrue doesn't use a complicated tier system or the maker-taker model for fees. Instead, it has a fixed price across all markets, which makes things consistent and predictable. It's also worth noting that the platform doesn't charge any deposit fees. However, when trying to withdraw, there will be an additional payment that can vary based on network congestion and market conditions.

On top of that, if you're an active trader, you can consider Bitrue's VIP Program. You can unlock additional benefits and discounted fee rates depending on your asset balance and trading volume.

For example, suppose you have a balance of $300,000, and in the last 30 days, your futures trading volume has been $50 million. In that case, you'd be promoted to VIP Level 3, unlocking a bunch of exclusive benefits and fee discounts.

Overall, I think the platform's fee structure is competitive and transparent, which many user Bitrue exchange reviews also find appealing. This makes it a good option for both casual and active traders.

How to Use Bitrue Exchange?

So, you've gone through my Bitrue review, and maybe you're considering trying the platform? Nice! Now you might be wondering, how do I trade on Bitrue?

How to Sign Up on Bitrue?

Before you can trade, you must sign up for an account first. Just like joining any other popular exchange platform, the process is really simple. Here’s a step-by-step guide to get you started:

Step 1: Head over to the Bitrue homepage and click the [Sign Up] button in the upper right corner.

Step 2: You’ll be directed to the registration page. Here, you need to enter your email address and an invite code if you have one. Once you’ve filled in the details, click [Next].

Step 3: Bitrue will send a 6-digit code to your email. Simply enter the code you receive and click [Next] to proceed.

Step 4: Create a strong password for your account and click [Confirm] when ready.

And that’s it! You’ve successfully created a Bitrue account. Next, you’ll be directed to complete the Bitrue KYC verification process. This is an essential step to unlock all the platform’s features, including making deposits, opening positions, and utilizing other functionalities.

How to Trade Crypto on Bitrue?

Buying crypto on Bitrue is a straightforward process, but remember to complete your KYC verification first to unlock this feature. Here’s a step-by-step guide to help you get started:

Step 1: On the Bitrue official website, hover to “Trade" and select [Spot].

Step 2: Browse through the list of available cryptocurrencies and select the one you want to buy.

Step 3: Enter the quantity of the cryptocurrency you want to purchase. You can either buy at the current market price or set a target price for your purchase.

Step 4: Review the details and click [Confirm] your purchase order.

After completing these steps, your transaction should be complete. The purchased assets will be stored by default in your Bitrue wallet or trading account.

That said, you can now use the platform to trade other cryptocurrencies, stake for passive income, or withdraw your assets to an external cryptocurrency wallet. If you encounter any issues or have yet to receive your coins, you can visit the help center or contact Bitrue's online customer support.

Pros

• Very low trading fees
• Exceptional functionality
• Mobile trading app

Main Features

• Very competitive trading fees
• An intuitive mobile app
• Up to 100x leverage available

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Pros

• A very well-known crypto exchange platform
• More than 500 different cryptos available
• Two-factor authentication

Main Features

• Over 500 different cryptocurrencies available
• Strong security
• Small withdrawal fees

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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

So, is Bitrue a good exchange? After writing my Bitrue review, I think it's a decent platform with comprehensive trading features for buying, selling, and managing a wide variety of crypto in one place. It has robust security measures that provide peace of mind for advanced traders or beginner investors who want to use its easy staking protocol.

However, it's worth mentioning that while the exchange serves users from many parts of the world, Bitrue exchange USA support has been stopped due to regulatory uncertainty. Furthermore, the platform has experienced security breaches in the past, which is another factor to consider.

Regardless, I still think Bitrue is a reliable platform for casual and active traders alike, offering many appealing features. But if you're in the USA, consider checking out other reputable exchanges that cater to your region, such as Binance, Bybit, or Kraken, which offer similar services.

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. A. Jasiak: 'Two-factor authentication (2FA) comparison of methods and applications';

2. P. Patil, M. Sangeetha: 'Blockchain-based decentralized KYC verification framework for banks'.