Bitexen Review 2024
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $1
- TradingView
- All major cryptocurrencies and tokens, your EXEN token with a financial benefit for its retention, the TRL is the only fiat, there is no investment and an affiliate program, there is a cashback and rebates from the Traders Union
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $1
- TradingView
- All major cryptocurrencies and tokens, your EXEN token with a financial benefit for its retention, the TRL is the only fiat, there is no investment and an affiliate program, there is a cashback and rebates from the Traders Union
Our Evaluation of Bitexen
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Bitexen is a cryptocurrency exchange with higher-than-average risk and the TU Overall Score of 3.88 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Bitexen clients on our website, Traders Union expert Anton Kharitonov recommends users to consider a more reliable broker with better conditions, as, according to reviews, many clients of this broker are not satisfied with the company’s work.
The Bitexen crypto exchange attracts users from all over the world with simplified spot trading with favorable conditions. The initial commission on trades is average, but there are two ways to reduce it. Another plus at the start is a low entry threshold: basic registration and a minimum deposit of 1 Turkish lira. The platform uses cloud storage, multi-level encryption, and some funds are kept in cold storage, which provides a high level of protection against scammers. For three years of existence, the exchange has not been hacked. It operates under the financial legislation of Turkey.
Brief Look at Bitexen
Bitexen is a cryptocurrency exchange that offers spot trading in Bitcoin (₿) and altcoins. Litecoin (Ł), Ethereum (Ξ), Tether (₮), Bitcoin Cash, Ripple, other cryptocurrencies, and coins are also traded on the platform. The Turkish lira is the only fiat fund. There are several deposit and withdrawal options, including bank transfers and crypto-wallets. Average commissions are 0.15% for a maker, and 0.25% for a taker. The fees of the platform are fixed, it is impossible to reduce them due to the trading volume. But there is an opportunity to get a cashback thanks to the holding of the EXEN token, and rebates are also available through the Traders Union. The crypto exchange is focused on active trading, advisors, and indicators are allowed, and there is API support. There are no investment solutions or referral programs. The platform has a low starting deposit (only 1 Turkish lira or equivalent in another asset). Contests are regularly held among traders.
- Bitcoin, many altcoins and coins are traded on the exchange;
- no restrictions on trading strategies, and API support;
- simple trading terminal, convenient mobile application;
- multilevel encryption for security;
- the activities of the exchange are regulated by government agencies;
- profitable commissions are reduced via cashback;
- prompt technical support via tickets and email;
- the pool of assets is constantly replenished through open listings.
- there are no other fiat besides the Turkish lira;
- the platform does not offer investment programs;
- no demo accounts and solutions for novice traders.
TU Expert Advice
Financial expert and analyst at Traders Union
The crypto exchange was launched on May 4, 2018. The headquarters is located in Istanbul (Turkey). The exchange is regulated by two bodies — the Financial Markets Council of Turkey and the Central Bank of the Republic of Turkey. The exchange acts transparently. Also, there is no evidence of violations of financial legislation, avoiding taxes, scams, or unresolved conflicts with clients.
The exchange is well known in Turkey as a reliable partner and is becoming an increasingly popular platform in the world market. Users are attracted by simple registration and a low minimum deposit (1 Turkish lira) with a high level of security. A cold storage method of protecting funds and its own encryption system are employed. The platform has never been hacked, and the level of protection meets modern standards.
Commission fees are average for the market and may be reduced due to its internal cashback system and rebates from the Traders Union. The exchange’s proprietary coin is the EXEN, which is actively traded as holding it in the account provides financial benefits. There were no glitches on the platform. Beginners should take into account that there are no demo accounts, tutorials, or other specialized solutions that could make it easier for them to trade.
The exchange is not suitable for investors, since there is no staking or other options for passive earnings on it. Interestingly, there is not even a referral program, although on most exchanges such programs are actively promoted to attract new customers. This may indicate that the exchange is self-sufficient, has a significant trading volume, and does not need additional stimulation of client interest to gain customers.
Bitexen Summary
| 💻 Trading platform: | TradingView in browser |
|---|---|
| 📊 Accounts: | Standard |
| 💰 Account currency: | Cryptocurrencies, Turkish lira |
| 💵 Replenishment / Withdrawal: | Bank accounts and cryptocurrency wallets |
| 🚀 Minimum deposit: | TRL 1 |
| ⚖️ Leverage: | No |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | From 0 |
| 💱 Commission: | Market |
| 🔧 Instruments: | Cryptocurrencies, TRL |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | No |
| 📋 Orders execution: | No data |
| ⭐ Trading features: | All major cryptocurrencies and tokens, your EXEN token with a financial benefit for its retention, the TRL is the only fiat, there is no investment and an affiliate program, there is a cashback and rebates from the Traders Union |
| 🎁 Contests and bonuses: | Yes |
To trade on the Bitexen cryptocurrency exchange, a trader needs to go through the registration and verification procedure (verify identity). Ther simple verification acts as reliable protection against fake accounts and scammers. After that, you need to deposit to the account, the size of which is equal to the minimum of one Turkish lira (1 TRL) or more. It is not necessary to deposit lira, you can use any cryptocurrency or coin from the platform. The exchange does not provide users with leverage. This means that the clients of the platform can trade relying only on their own assets. On the one hand, such a limitation reduces risks, on the other hand, it does not allow obtaining additional benefits from successful trading. The exchange has a high-quality support service. It works without breaks and on weekends, but you can only contact it through the ticket system on the website and by email. The exchange does not have a call center, which is assessed as a great disadvantage.
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Commissions and fees
You can reduce the commission using bonuses in the form of rebates given by the Traders Union. However, the platform also has its own mechanism for reducing fees using the cashback system. No additional steps are required to activate this option. You only need to have a sufficient amount of EXEN token in your wallet:
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EXEN 0 - no discount;
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EXEN 10 - 10% discount;
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EXEN 20 - 20% discount;
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EXEN 30 - 30% discount;
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EXEN 50 - 40% discount;
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EXEN 100 - 50% discount.
Keeping only EXEN 10 in his account gives the client a 10% cashback from all his trading commissions. If the client has EXEN 100 in his account, half of the commission paid is returned to him. In combination with rebates from the Traders Union, users of the platform are provided with the opportunity to gain super-profitable trading conditions.
| Account type | Commission (minimum value) | Withdrawal commission |
|---|---|---|
| Standard | Up to 0.25 % per order | Yes |
Commissions for depositing funds are zero, regardless of the deposit channel used by the client. Withdrawal fees are available and they depend only on the asset but do not depend on the withdrawal volume and other factors. For example, the USDT withdrawal fee is $22, and the Bitcoin withdrawal fee is ₿0.0005. These are standard indicators in the segment that correspond to the conditions of most other crypto exchanges.
| Broker | Average commission | Level |
|---|---|---|
|
$0.25 | |
|
$20 | |
|
$0.1 |
Investment Options
The cryptocurrency exchange does not offer investment programs, and there is not even staking. Consequently, the clients of this platform will not be able to provide themselves with passive income. However, this is offset by a wide range of possibilities and modern solutions involving crypto trading.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Bitexen’s affiliate program:
The exchange does not provide affiliate (referral) programs. Clients of the platform can invite new users to it, but they will not receive bonuses and financial benefits for this. As in the case of investment programs, this is neither an advantage nor a disadvantage, but a specific feature of the platform.
User Satisfaction