Website: Bitexbook
About company:
Bitexbook is a young crypto exchange regulated by Russia. The beginning of its activity is dated 2017. The beta version of the service was launched in 2018. To date, the site is available in Russian and English, which allows the project to go beyond the borders of one country. But, perhaps, in the future, the geography of access will be wider. Users note that the platform interface is convenient and understandable for both an experienced player and a beginner in the cryptosphere. Night mode included.
Despite some doubts about my youth, I liked the exchange. It works really fast, they withdraw within an hour to the wallet. How the cards will work, I can not say. It is not a fact that within an hour it will come out to meet – the bank may have a surge. In addition to cryptocurrency, the exchange supports fiat. Both as a payment instrument and as an asset for trading. It is convenient that the fiat is represented not by one dollar, but also by rubles. This is a huge plus, no conversion when replenishing and withdrawing.
I have no complaints about security. The main array of assets is stored in cold multi-signature wallets. Even single owners will not be able to steal savings. I secured my account with 2FA. They don’t charge money for trading and they made the correct division into maker and taker positions. For the former, the rate is always 0.1%, for the latter it decreases from 0.25% to 0.15% with an increase in turnover. It is very difficult to reach the minimum, for this you will need to trade at least 6,000 BTC every month.
To fully trade, it is better to pass verification. With the exception of increased limits, it will provide an opportunity to deposit and withdraw in fiat. Otherwise, only crypto wallets will remain. For normal trading, the basic level is enough, where only the full name and address are indicated. For a complete one, a standard package of documents is needed. If the exchange keeps the level, it will certainly achieve a lot in the market. Now everything I see here, I like it.
On attracting liquidity, they now have a commission set to zero for a couple of months. In short, we open positions for free. On the tap, alas, I lose 0.25%, which is slightly above the market average.
The rate can be lowered, but I don’t really want to pour all my assets here. Therefore, I trade on a small volume, so much so that I can’t beat the monthly minimum turnover of 5 bitcoins. So I pay the maximum commission for closing transactions.
The exchange itself is quite ordinary, for me the main thing is that cross-currency pairs have not gone anywhere. There are also tokens (cue ball, tether, ripple, etc.) and fiat (dollar, ruble) in the markets. Only a few dozen pairs, but I still trade the most liquid ones. Fans of the exotic, most likely, will be bored here. There were no rare altcoins on the exchange. The trading interface is standard, the charts are ordinary, in short, the exchange has nothing new in this regard. It is important for me that the interface always works and there are no delays when placing orders. There are no problems with this, transactions are opened on time.
External transactions can also be carried out for free, but personally, I’m used to pouring fiat into the exchange and withdrawing it in it. For rubles, the conditions here are not the most favorable – I lose 4% on input, 2.5% on output. Well, here I am not in a complaint, who cares about savings – withdraw with crypto.
I’ll start with the pros, they are. The first main plus and it follows in their minus. The exchange decided to help clients, the former Bitflip exchange, which has shriveled. Clients were able to transfer their balances to their exchange. Cool? Certainly. Moreover, they also promised to redeem these debts to customers. Smoothly approached the minus – this plus. They redeemed the debt to the client in the form of bidding, everyone perfectly understands that no one will buy 1 to 1, so the price in most cases is 1 to 0.1. Here, of course, many will object, they say you were given a chance, so trade. But this is not the point, but the fact that the exchange initially misled people that they would buy their balances 1 to 1. But I didn’t see any more pluses on this, low turnover, I would even say very small, about 2-3 cue balls per day. The withdrawal of crypto or fiat is carried out only when their financial department is working, that is, from 09-00 to 22-00 (MSK), plus it takes about one hour, there is definitely nothing for arbitrageurs to do here, with such a “fast” system. There is a chat, on the exchange itself and in the cart. If you want to say something, if you don’t like something, you will be devoured there =) Admins will also be offended by your comments. As for the support service, it works well for them, they respond quickly enough, friendly and without any rudeness. Regarding the entire exchange as a whole, it is buggy, even with a new design, to cut and cut it. That’s all.