Bitci 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
- There are fan tokens and proprietary Bitcicoin cryptocurrency
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
- There are fan tokens and proprietary Bitcicoin cryptocurrency
Our Evaluation of Bitci
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
Bitci is a high-risk cryptocurrency exchange with the TU Overall Score of 2.86 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Bitci clients on our website, Traders Union expert Anton Kharitonov does not recommend working with this broker, as, according to reviews, most clients are not satisfied with the broker. Bitci ranks 146 among 172 companies featured in the TU Rating, which is based on the evaluation of 100+ criteria.
Bitci.com is a small exchange that is suitable for traders working with major cryptocurrencies and interested in fan tokens.
Brief Look at Bitci
The Bitci exchange is a regional cryptocurrency platform launched in Turkey in 2018. It offers a standard set of trading tools such as cryptocurrencies for active trading, including top coins and fan tokens as well as staking of their proprietary Bitcicoin. Trading is carried out through their browser platform, which is presented in three variations: a buy/sell terminal, a standard platform, and a platform for professional trading with charts and TradingView tools. The arsenal of trading instruments is more than 60 cryptocurrencies, the largest turnover — more than 50% — falls on Bitcicoin and fan tokens. The total daily turnover is 400-800 thousand USD. The exchange rating according to CoinMarketCap is 3.5 out of 10.
- Relatively low commission for exchanging cryptocurrencies among its users. Average market commission for transactions with cryptocurrencies and fiat money.
- Guaranteed redemption of fan tokens by the exchange within 6 months.
- High partner reward of up to 25% of the referral commission.
- Opportunity to win coins when participating in draws.
- There is a commission for withdrawing money.
- A relatively small selection of trading assets.
TU Expert Advice
Financial expert and analyst at Traders Union
Bitci is a local Turkish exchange that does not particularly strive to compete with top platforms. The platform entered the local market in 2018 and quickly occupied its narrow niche thanks to non-standard tools at that time. Although such products have already been actively developed by top exchanges. The emphasis is on fan tokens and staking of the proprietary Bitcicoin. The competitive advantage of the exchange is a lower commission for takers/makers when exchanging cryptocurrencies among themselves than the ones on top exchanges. The second plus is loyal conditions for verification. More precisely, private investors do not need it because the maximum trading limits for withdrawal are less than 50 thousand USD.
The feature of the exchange is fan tokens, which make up almost 50% of the list of available cryptocurrencies. The idea is good because fan tokens allow you not only to join the sports culture of your favorite direction/team but also to earn on volatility. Coins are very volatile and often follow the general market trend. They cost less than a cent, so they are a good speculative instrument.
The proprietary cryptocurrency of the Bitcicoin platform is more of an investment product than an internal means of payment. The platform offers staking with the possibility of earning on the coin up to 36% per annum with the ability to choose the type of product. This includes a flexible withdrawal schedule or staking for a fixed period of 30 days. The minimum staking amount is 100 coins, which is less than 1 USD. Does staking make sense? Judging by the chart, the coin is used for pumps — there are two strong price spikes. But staking does not imply an instant withdrawal, so the investor simply will not be able to use the pump. Over the past year, the coin has fallen in price from 0.04 to 0.004 USD. And staking of 36% seems irrational.
Bitci Summary
| 💻 Trading platform: | TradingView-based proprietary platform |
|---|---|
| 📊 Accounts: | Single client account |
| 💰 Account currency: | Turkish lira (TRY), cryptocurrencies |
| 💵 Replenishment / Withdrawal: | Cryptocurrencies |
| 🚀 Minimum deposit: | $1 |
| ⚖️ Leverage: | 1:1 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | N/A |
| 💱 Commission: | Market |
| 🔧 Instruments: | Cryptocurrencies |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | N/A |
| ⭐ Trading features: | There are fan tokens and proprietary Bitcicoin cryptocurrency |
| 🎁 Contests and bonuses: | Available from time to time; bonuses from the Traders Union |
Bitci.com has a flexible pricing policy that depends on the type of exchange, for example, cryptocurrency/cryptocurrency or cryptocurrency/fiat. There are also limits on withdrawing money, which include: verification; limits on the purchase of fan tokens; the amount of Bitcicoin cryptocurrency you own.
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Commissions & Fees
| Account type | Commission (minimum value) | Withdrawal commission |
|---|---|---|
| Standard | 0.15% | Yes |
A comparative analysis of the tariff policy of Bitci and competing exchanges is given in the table below.
| Broker | Average commission | Level |
|---|---|---|
|
$0.15 | |
|
$6 | |
|
$20 |
Investment Options
The platform has two instruments that can be classified as an investment. The first is fan tokens. These are coins issued and placed on the exchange by individual teams related to sports. For example, tokens of the Turkish Basketball Federation or the Brazil national football team. Some of them can be purchased on a few exchanges, including Bitci. Some of them are not included in the CoinMarketCap rating, but Bitci provides a 100% buyback guarantee. For investors, buying fan tokens is an opportunity to support their favorite team or sport and receive discounts on tickets, team football merchandise, etc.
Bitcicoin staking | Purpose and mechanism of investment
The second investment tool is staking Bitcicoin, the exchange’s proprietary cryptocurrency. The coin is a means of payment within the ecosystem, with which you can buy fan tokens and other cryptocurrencies with minimal commissions.
Types of staking tariff packages:Fixed. Coins are blocked for a period of 30, 60, 90, or 180 days. Profitability is 12% - 36% per annum. The longer the coins are staked, the higher the profitability.
Flexible. Coins are fixed in staking for any period specified by the investor without a rigid reference to the period. Profitability is 6% per annum.
Staking is similar to a deposit. The investor buys coins and activates staking. Coins are blocked for a selected period, they participate in maintaining the liquidity and operability of the network, for which the investor receives interest at the end of the term.
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.
Bitci’s affiliate program
This is a classic referral program that offers up to 25% reward for an attracted user. Check with the support service for more details. There are no special tools for analyzing partner statistics in the user account.
User Satisfaction