Is Bitazza a Good Crypto Exchange for Beginners?
It is important for novice cryptocurrency traders to choose the right crypto exchange. Not all companies can be used when you are just starting your path in trading, which is why the success in cryptocurrency trading depends on making the right choice. Beginners often wonder whether Bitazza is a good crypto exchange to start trading with. In this article you will learn whether Bitazza is good for beginners, what its pros and cons are and what a novice trader needs to know.
Short summary about the broker Bitazza
Bitazza is a regional cryptocurrency exchange in Southeast Asia, established in Thailand in 2018. According to analytical information, the exchange attracted over 600,000 users, after which it announced possible global expansion plans with the Bitazza Global platform. The daily turnover at the exchange is USD 10 million, with over 80 coins on its listing. The turnover is distributed relatively evenly with no clear leaders with a large margin, which is an advantage. ВТС and SAND account for the higher turnover – 6-10% each.
| 💰 Account currency: | Thai baht (ТНВ) and cryptocurrencies |
| 🚀 Minimum deposit: | 1$ |
| ⚖️ Leverage: | 1:1 |
| 💱 Spread: | Market |
| 🔧 Instruments: | Cryptocurrencies |
| 💹 Margin Call / Stop Out: | No |
Bitazza Pros and Cons
👍 Advantages of trading with Bitazza:
•Flexible fee schedule with fee discounts for holding the exchange’s native coin.
•Functional trading platform with a demo mode that does not require opening positions and without registration.
•Wide selection of cryptocurrency assets. The exchange offers access to over 80 cryptocurrencies and more than 120 cryptocurrency pairs.
👎 Disadvantages of Bitazza:
•No pairs with fiat: USD, EUR, etc. Also, in terms of fiat, the exchange works only with Thai baht.
•Investment products are at the stage of development.
•Withdrawal fee.
What is a Good Crypto Exchange for Beginners?
In order to choose the right broker for a beginner, you need to consider several aspects.
Here are the main ones:
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Education. It is important for novice crypto traders to learn how to trade. An exchange can offer educational courses, video tutorials, articles, webinars, etc. The more learning opportunities there are the better.
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Availability of a demo account. You will need this account to practice. It provides an opportunity for a beginner to trade risk free and try out trading strategies.
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Availability of a simple method to buy cryptocurrencies. An exchange service or a P2P exchange would be an advantage for an exchange.
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Low fees. The level of income of the trader depends on the level of the fees. Therefore, it is important to choose a company that charges minimum fees. Crypto exchanges mostly use the Maker and Taker fee model. It is important that you study them.
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Instruments for passive investing. In addition to active trading, passive income is also important for beginners. Pay attention to availability of copy trading or staking.
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Trading platform. It is important for a novice trader to choose the simplest trading platform that will be easy-to-use for trading.
In addition to these factors, you also need to consider how customer support operates, as it will also be important. Bonuses for beginners are also a nice perk.
Trading Conditions for Bitazza Users
Before you start working with an exchange, it is important that you evaluate its trading conditions. Bitazza offers traders the following conditions.
| 💻 Trading platform: | Proprietary platform |
| 📊 Accounts: | Client account |
| 💰 Account currency: | Thai baht (ТНВ) and cryptocurrencies |
| 💵 Replenishment / Withdrawal: | Bank account, withdrawal of cryptocurrencies to external addresses |
| 🚀 Minimum deposit: | 1$ |
| ⚖️ Leverage: | 1:1 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | N/A |
| 💱 Spread: | Market |
| 🔧 Instruments: | Cryptocurrencies |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | N/A |
| ⭐ Trading features: | Native token BTZ |
| 🎁 Contests and bonuses: | Periodically |
Commissions and Fees
The size of commissions and fees is also an important factor of choice. Traders Union analysts have prepared a short review of Bitazza commissions and fees. In this section, you will find trading fees of the exchange as well as withdrawal fees.
Traders Union analysts analyzed trading conditions of Bitazza and reviewed possibilities of reducing the fees of the exchange. Transaction fees of the exchange are higher than the majority of competitors, but Bitazza offers fee discounts to investors who buy BTZ. The overall fee may seem high to investors working with small amounts using scalping strategies. For investors with a turnover of USD 1,000 and more, and long-term investors, the fees are insignificant considering the volatility of cryptocurrency.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | 2,5% | Yes |
Investment programs of Bitazza
It is important for novice traders not only to trade actively, but also earn passive income. Passive investing can help you earn extra profit, and also compensate for the losses you may incur as a result of active trading. Bitazza offers the following passive income options.
Investment Programs, Available Markets, and Products of the Crypto Exchange
The exchange plans to develop investment opportunities in the DeFi segment. Investors will receive access to flash loans, deposits, farming, etc. The date of the launch of these products is unknown, but there have been mentions about them on the website, although it is not possible to use them at the moment. Investing in BTZ is currently the only available investment program of the exchange.
BTZ — benefits of investing in Bitazza native cryptocurrency
BTZ is the native coin of the exchange that was placed on the CoinMarketCap listing in April 2022. The cryptocurrency is a governance currency of the ecosystem that provides for transactions with minimum network fees.
Depending on the amount of purchased BTZ coins, an investor receives benefits according to the assigned status. There are a total of six statuses from Bronze to Diamond. The benefits include:
50-70% discounts on transactions fees;
15-40% referral reward;
Number of votes in the network;
Participation in airdrops, special offers, etc.
Under the investment program, there is also a reward for holding BTZ in your wallet balance. The amount of the reward also depends on the assigned status (the amount of purchased coins) and ranges within 0.15%-0.4% (the period is not specified on the website).
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 thedeal and all the steps from signing up to withdrawal of profits.
Bitazza Affiliate Program
There is no detailed description of the affiliate program on the website of the exchange, but it does exist. Its profitability can be increased through investing in BTZ. For example, an investor who bought 50,000 coins will receive 25% revenue share of the referrals. The maximum reward is 40%.
Conclusion. Is Bitazza good for beginners?
The Bitazza cryptocurrency exchange will be an excellent choice for beginners. The exchange offers a convenient trading platform, which a beginner can learn to work with rather quickly. There is an excellent education center with a large number of materials for novice traders. Also, traders can earn passive income on good conditions. Therefore, Bitazza could be considered as a good cryptocurrency exchange for a start.
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FAQ
What do I need to know about the fees charged by cryptocurrency exchanges?
The majority of cryptocurrency exchanges use the Maker/Taker fee model. As a rule, they use a multi-level system for traders that depends on the trading volume. The higher the trader’s trading volume, the lower the fees.
How do I choose a reliable cryptocurrency exchange?
Crypto exchanges mostly operate without licenses, as the majority of countries haven’t adopted legislation to regulate them. In order to choose a reliable exchange, you need to find out about its reputation and read the reviews about user experiences with it.
How many cryptocurrencies could a crypto exchange offer?
The number of cryptocurrencies on the listing of a cryptocurrency exchange may be very different. Some platforms offer less than 10, while others – several hundreds. It is important that you check the choice of cryptocurrency before registering on the exchange.
What are the risks of investing in cryptocurrencies?
Investing in cryptocurrencies carry high risks due to their high volatility. It could cause substantial losses, which is why it is important to observe the rules of risk management.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.