Bitrue is a centralized crypto alternate that helps an enormous collection of cryptocurrencies and numerous crypto buying and selling merchandise for buyers with totally different buying and selling experiences. The alternate is hottest for Energy Piggy, an funding product that enables merchants to earn day by day curiosity of their cryptocurrencies.
Not like the common crypto earn merchandise on different exchanges, pursuits on Energy Piggy are paid day by day into your Bitrue account, and you’ll retract the crypto belongings you invested at any time. Moreover the funding device, Bitrue Trade can also be recognized for having a user-friendly interface throughout its net and cell apps.
This straightforward interface, a number of buying and selling choices, and the supply of superior charting instruments make the platform appropriate for freshmen and superior merchants. And, in case you are contemplating utilizing the Bitrue alternate for buying and selling, it’s only proper that you just perceive all its options and know the ins and outs of the crypto alternate.
Therefore, this Bitrue overview will cowl what Bitrue is, its finest options and merchandise of Bitrue, Bitrue charges, its safety features to find out whether or not it’s protected and legit for buying and selling crypto, and a step-by-step information on creating a brand new account on Bitrue. Let’s start!
What’s Bitrue?
Bitrue is a Singapore-based cryptocurrency alternate established in 2018. The platform provides numerous companies to newbie and skilled merchants and provides a number of buying and selling choices, together with spot, futures, and exchange-traded funds.
The buying and selling platform has a staking product, a crypto lending platform, and a DeFi platform, and it helps over 700 cryptocurrencies, offering customers with in depth buying and selling choices. Along with these options, Bitrue stands out for its ease of use and the Energy Piggy options, which permit merchants to stake their cryptocurrencies in alternate for day by day rewards.
Here’s a detailed overview of Bitrue Trade and its finest options.
Trade
Bitrue
Based
2018
Headquarters
Singapore
Founder(s)
Curis Wang and Ryan Hentz.
Options
Bitrue cell app, Energy Piggy, derivatives buying and selling, copy buying and selling, crypto loans, and spot buying and selling.
Supported Cryptocurrencies
700
Native Token
BTR
Margin Buying and selling
Sure
KYC Requirement
Necessary
Safety Measures
Multisig wallets, Two Issue Authentication, IP whitelisting, and an insurance coverage fund.
Buying and selling Charges (Spot)
0.098% for many cryptocurrencies
Deposit Strategies
Crypto, debit/bank cards, and third-party fee platforms.
Further Options
Launchpad, staking, exchange-traded funds (ETFs),
Restricted Places
United States, Mainland China, Hong Kong, Canada, Netherlands, Iran, North Korea, Ukraine, Russia, Cuba, Syria, and so forth.
Declare an unique welcome bonus of 1,000 USDT, and numerous thrilling rewards are up for grabs.
What Are the Professionals of Bitrue?
The professionals of Bitrue are listed beneath:
Sturdy Safety Options: Since its final safety breach, Bitrue has put extra effort into its safety measures to make sure that customers’ funds and information are saved protected. They implement options like multisig chilly wallets and likewise encourage customers to activate Two-Issue Authentication to safeguard their accounts on their finish.
Help Extra Than 700 Cryptocurrencies: For merchants on the lookout for broad asset help, Bitrue helps about 700 cryptos and 1000+ buying and selling pairs throughout spot, futures, derivatives buying and selling, and leveraged ETFs.
Passive Earnings Choices: The crypto alternate platform provides a number of options for customers to earn passive revenue whereas buying and selling. These options embrace Energy Piggy, staking, a crypto launchpool, BTC staking, and crypto borrowing and lending.
Aggressive Charges: Bitrue provides aggressive charges throughout its spot and futures markets. These charges begin vary between 0.09% – 0.06%, and merchants who pay transaction charges with BTR (Bitrue native token) get pleasure from a 20% charge low cost.
What Are the Cons of Bitrue?
The cons of Bitrue are listed beneath:
Not supported within the US: Because of regulatory points, the Bitrue crypto alternate platform doesn’t supply its services to merchants in the USA.
Not Regulated by Regulators With Stringent Protocols: Bitrue will not be regulated by a monetary authority with strict regulatory and safety verify requirements. So, do your due diligence earlier than buying and selling crypto on the alternate.
Main Safety Breaches within the Previous: Whereas Bitrue has improved its safety, the alternate has confronted two main safety assaults in June 2019 and April 2023. The overall quantity of misplaced funds from these breaches was about $27 million in crypto belongings. Since these incidents are fairly current, some customers are skeptical concerning the security of their digital belongings.
Buyer Help Could possibly be Higher: From our Bitrue overview, we got here throughout quite a few destructive opinions and complaints highlighting sluggish or unhelpful responses from the help staff. As well as, some customers have reported unresolved points with misplaced deposits and account entry.
Is Bitrue Accessible within the US?
No, Bitrue will not be accessible within the US as a result of regulatory restrictions. The alternate discontinued its companies within the US in April 2023 with no specified resumption date, so Bitrue US prospects ought to contemplate exchanges like Kraken, Gemini, Coinbase, and Crypto.com, that are all good options to Bitrue.
The place is Bitrue Positioned?
Bitrue is situated in Singapore and has workplaces throughout Europe and Asia.
What Are the Finest Options and Merchandise of Bitrue?
The very best options and merchandise of Bitrue are the Bitrue cell app, Bitrue Energy Piggy, derivatives buying and selling, copy buying and selling, and crypto loans. Maintain studying to search out out extra about these options and the way they’ll enhance your buying and selling expertise.
Bitrue App
The Bitrue Trade has a cell app for iOS and Android with options much like the online model. The app permits customers to commerce cryptocurrencies even when they’re on the transfer. It additionally provides buyers entry to all of the platform’s buying and selling merchandise and dwell charts by TradingView for superior evaluation. From our Bitrue app overview, we discovered that the alternate’s interface is user-friendly and appropriate for each freshmen and superior merchants.
Register a brand new account and stand up to 1,000 USDT in welcome bonus
Bitrue Energy Piggy
The Bitrue Energy Piggy is an funding characteristic that allows merchants to earn day by day curiosity payouts with no lockup interval. This makes it splendid for crypto buyers who wish to make fast positive factors from their crypto belongings.
The crypto buying and selling platform has 100+ cryptocurrencies, together with main cash, DeFi tokens, and stablecoins, accessible for investing on the Energy Piggy (extra are added each week). It additionally provides aggressive rates of interest, with some belongings reaching as much as 13% APR.
Some cash may also have larger rates of interest in the event you maintain BTR (Bitrue’s native token). So, the extra BTR you maintain, the upper the rate of interest you’ll obtain. Energy Piggy doesn’t supply long-term or fastened funding choices, so pursuits are paid out day by day into your Bitrue account or biweekly in the event you select the cash with short-term validity durations (7 or 14 days).
Derivatives Buying and selling
Along with spot buying and selling, Bitrue provides Derivatives buying and selling, enabling customers to commerce futures contracts with leverage. Bitrue helps over 100 pairs of USDT perpetual futures, and merchants can select between Cross and Remoted margins. The Cross Margin makes use of all of the funds within the futures account because the margin, whereas the Remoted Margin limits the margin to a specified quantity.
Copy Buying and selling
With Bitrue copy buying and selling, beginner merchants can simply replicate the buying and selling methods of superior consultants and probably earn income by following their lead. To decide on the perfect lead dealer, contemplate the next components:
Observe Report: All the time verify on the overall indicators, corresponding to general rankings, returns on funding, present/historic copy dealer counts, copy buying and selling quantity, and win price, to grasp the extent of belief different copy merchants have within the dealer.
Followers and Whole Earnings: Bitrue signifies what number of merchants have copied a specific dealer, so you may verify the variety of folks following them.
Though the perfect merchants additionally lose typically, a constant observe document of excessive earnings is an effective indicator of the merchants’ methods. If the dealer’s profitability is growing persistently, then that is possible a dealer you wish to copy.
If you’re not conversant in copy buying and selling, you may simply copy the precise methods of any of the lead merchants. Nevertheless, in case you are an expert dealer, you may customise your buying and selling methods to fit your wants and danger tolerance degree.
Crypto Loans
Bitrue’s Crypto Loans permit merchants to borrow crypto from different customers by pledging their cryptocurrency holdings as collateral. Customers can lend and borrow belongings like USDT, BTC, XRP, or ETH by pledging cash they maintain on the platform. The nice factor is that the mortgage phrases are versatile, with no fastened supply deadline, and curiosity is calculated day by day at a floating price.
Is Bitrue Protected and Legit for Buying and selling Crypto?
Sure, Bitrue is protected and legit for buying and selling crypto. Contemplating the strong safety features they implement, the corporate is dependable. Nevertheless, it is very important notice the main assaults they’ve encountered up to now and the a number of buyer complaints about revoked account entry.
The latest safety breach occurred in April 2023, when an attacker stole $23 million from one of many alternate’s digital wallets. These scorching wallets contained solely about 5% of the alternate’s funds, so in response to the corporate’s report, customers’ belongings had been protected.
However this wasn’t the primary time fraudsters had focused the buying and selling platform. In June 2019, a hacker stole about $4.2 million by exploiting a vulnerability within the buying and selling platform. Bitrue repaid its prospects who had been affected by the breach and makes use of the next options to safe customers’ belongings:
Multisignature Chilly Pockets Storage: Bitrue shops a good portion of person funds in chilly wallets utilizing multi-signature (multisig) expertise. To stop a single level of failure and fraud, the system requires a number of personal keys (held by totally different people or units) to authorize transactions.
Two-Issue Authentication (2FA): Bitrue encourages customers to activate 2FA with their cell quantity or Google Authenticator to log in.
IP Whitelisting: Bitrue makes use of this characteristic to make sure solely pre-approved units and IP addresses could make withdrawals out of your account. If somebody will get maintain of your account credentials, they gained’t be capable of withdraw your crypto except they use an accepted machine and IP deal with.
Insurance coverage Fund: Bitrue has a publicly viewable insurance coverage fund containing 25 million XRP and 40 million BTR tokens for reimbursement in safety failures.
Join on Bitrue and stand up to 1,000 USDT and lots of extra rewards.
Does Bitrue Require KYC?
Sure, Bitrue requires KYC. Earlier than June 2023, KYC was non-obligatory on Bitrue, however new sign-ups and current customers who failed to finish KYC earlier than the stipulated deadline misplaced entry to deposits, buying and selling, and different options.
What’s Bitrue’s Payment Construction?
Bitrue Trade has a set for all of the buying and selling pairs accessible on the alternate throughout spot and futures markets. Additionally they have a 3-level VIP program that gives reductions on transaction charges for high-volume merchants. Right here’s a extra detailed breakdown of Bitrue’s charge construction:
Spot Buying and selling Charges
Bitrue makes use of a flat charge mannequin for spot buying and selling as an alternative of the normal maker-and-taker charge mannequin.
Customary Price: 0.098% for many belongings (e.g., BTC, ETH, USDT pairs).
XRP Pairs (XRP/BTC, XRP/USDT, XRP/ETH): 0.196%.
Different XRP Pairs: 0.28%.
When you pay your charges utilizing Bitrue’s native token (BTR), you’ll get a 20% on buying and selling charges.
Options Buying and selling Charges
Futures charges on Bitrue apply to each takers and makers:
Customary Price: 0.02% for makers and 0.06% for takers.
USDT Pairs: 0.038% (maker) / 0.07% (taker).
Coin-M Pairs: 0.038% (maker) / 0.07% (taker).
Deposit and Withdrawal Charges
Crypto deposits on Bitrue are free. For merchants shopping for crypto with fiat currencies, charges will likely be charged by the third-party fee processor you employ. Bitrue withdrawal charges fluctuate relying on the cryptocurrency and community exercise. Right here’s a breakdown of Bitrue withdrawal charges for numerous crypto belongings.
Coin
Withdrawal Payment
BTC
0.0005
ETH
0.01
USDT
2.6
USDC
13
XRP
Free
BNB
0.05
ADA (Cardano)
1
BCH (Bitcoin Money)
0.001
LINK (Chain hyperlink)
0.55
DASH
0.002
LTC (Litecoin)
0.001
Create a New Account to Commerce Crypto on Bitrue?
To create a brand new account to commerce crypto on Bitrue, that you must go to the Bitrue official web site first, then do the next;
Step 1: Register a New Account
Click on “Signal Up” on the high proper nook of the homepage. Then, add your electronic mail deal with and the present Bitrue referral code and click on “Subsequent.” The alternate will electronic mail you a novel affirmation code. Add the code to proceed.
Open your buying and selling account right here to stand up to a 1000 USD bonus.
Step 2: Set Password
The subsequent step is to arrange a powerful password that you’ll use to log in to your account. Click on “Affirm” when you set the password. Your account has been efficiently created. Now you can obtain the cell app and use your credentials to log in to your Bitrue pockets.
Step 3: Full Identification Verification
The KYC verification course of is obligatory on Bitrue. The platform provides two ranges of verification: primary and superior. The primary requires solely private data and a contact quantity. In distinction, the superior degree requires customers to add a sound proof of id (e.g., ID picture, passport, or driver’s license) in digital type.
When you’re verified, you may go to the Rewards Middle to redeem your welcome bonus and different rewards. Please notice that Bitrue requires new customers to make a first-time deposit earlier than they’ll redeem the $1,000 rewards. To make your first deposit and qualify for this bonus, observe the steps beneath.
Purchase and Commerce Cryptocurrency on Bitrue?
To purchase and commerce cryptocurrency on Bitrue, that you must;
Deposit Crypto or Fiat Foreign money
Bitrue means that you can fund your account utilizing both cryptocurrency or fiat cash. When you already personal crypto, go to the belongings web page and click on on “Deposit,” then choose the cryptocurrency you want to deposit.
When you click on on the crypto, you will notice numerous blockchain networks. Click on on the precise community you’re transferring crypto from. Then, copy the pockets deal with displayed on the following web page and ship your cryptocurrency to it.
When you desire utilizing fiat, Bitrue claims that it helps purchases through 50+ fee strategies, together with credit score/debit playing cards and financial institution transfers by third-party fee suppliers. To purchase crypto with fiat forex, you need to use the straightforward “Purchase/Promote” characteristic on Bitrue.
On the Purchase/Promote web page, choose the forex and the way a lot you wish to spend, in addition to the crypto (utilizing USDT, for example) you wish to obtain. After indicating the crypto you want to obtain, choose “Purchase USDT” to finish your transaction.
Buying and selling Crypto on the Bitrue Trade
Bitrue offers a number of buying and selling choices, together with spot buying and selling and futures buying and selling. To commerce on the spot market, click on on “Commerce” and choose “Spot.” On the spot buying and selling interface, choose the buying and selling pair you want to commerce (e.g., BTC/USDT).
If you’re not sure what pair to commerce, learn our information on the finest cryptocurrencies to purchase now to find high crypto cash that might probably 100X your capital. When you’ve completed your analysis on the perfect crypto to purchase, analyze the value charts, enter the quantity of crypto to purchase or promote, and select your order kind.
You possibly can select between market orders (executed immediately on the present value), restrict orders (the place you set a selected value for execution), and stop-loss orders to handle danger. Lastly, confirm the small print of your order and click on Purchase/Promote to finish your commerce.
Superior merchants can discover leverage and futures buying and selling for potential larger returns. To commerce futures contracts, choose “Derivatives” and select the sort of contract you wish to commerce between USDT Futures, Coin-M Futures, and USDC Futures.
Deposit USDT or different supported collateral into your Futures account, select a buying and selling pair (e.g., BTC/USDT Perpetual), and choose leverage (Bitrue provides as much as 100x leverage). When you’ve entered the small print of your commerce, open a Lengthy (Purchase) or Quick (Promote) place based mostly in your predictions.
Be aware: Be suggested that futures buying and selling is right for customers conversant in the crypto area and who’ve expertise buying and selling futures contracts on different exchanges. If you’re new and wish to commerce futures contracts, do your personal analysis to grasp the way it works to keep away from making errors or dropping massive quantities of cash.
