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Is Bitexen a Good Crypto Exchange for Beginners?

Updated: December 15, 2023
Mikhail Vnuchkov
Contributor
Opinions expressed by Traders Union Contributors are their own.
Reviewed by
Olga Shendetskaya
Editor
Full Bitexen
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Table of Contents

  • Summary
  • Pros and cons
  • What is a Good Crypto Exchange
  • Trading Conditions
  • Commissions and Fees
  • Investment programs
  • Conclusion
  • FAQs
Editorial Note: While we adhere to strict Editorial Integrity, this post may contain references to products from our partners. Here's an explanation for How We Make Money. None of the data and information on this webpage constitutes investment advice according to our Disclaimer.

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 Bitexen is a good crypto exchange to start trading with. In this article you will learn whether Bitexen is good for beginners, what its pros and cons are and what a novice trader needs to know.

Short summary about the broker 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.

💰 Account currency: Cryptocurrencies, Turkish lira
🚀 Minimum deposit: TRL 1 
⚖️ Leverage: No
💱 Spread: Market
🔧 Instruments: Cryptocurrencies, TRL
💹 Margin Call / Stop Out: No

Bitexen Pros and Cons

👍 Advantages of trading with Bitexen:

•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.

👎 Disadvantages of Bitexen:

•there are no other fiat besides the Turkish lira;

•the platform does not offer investment programs;

•no demo accounts and solutions for novice traders.

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:

  • 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.

  • 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.

  • Availability of a simple method to buy cryptocurrencies. An exchange service or a P2P exchange would be an advantage for an exchange.

  • 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.

  • 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.

  • 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 Bitexen Users

Before you start working with an exchange, it is important that you evaluate its trading conditions. Bitexen offers traders the following conditions.

💻 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
💱 Spread: 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

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 Bitexen commissions and fees. In this section, you will find trading fees of the exchange as well as withdrawal fees.

Information

Base commission fees for trading operations at the platform are fixed. For a maker, the commission is 0.15%, for a taker, it’s 0.25% of the trade amount. The commission is not affected by how long the client has been trading on the exchange. There are no trading levels or volume discounts.
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:

  • EXEN 0 - no discount;

  • EXEN 10 - 10% discount;

  • EXEN 20 - 20% discount;

  • EXEN 30 - 30% discount;

  • EXEN 50 - 40% discount;

  • 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 Spread (minimum value) Withdrawal commission
Standard Up to 0.25 % per order Yes

Investment programs of Bitexen

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. Bitexen offers the following passive income options.

Investment Programs, Available Markets, and Products of the Crypto Exchange

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.

Important!

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.

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.

Conclusion. Is Bitexen good for beginners?

The Bitexen 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, Bitexen could be considered as a good cryptocurrency exchange for a start.

See related articles in our selection:

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.

Team that worked on the article

Mikhail Vnuchkov
Mikhail Vnuchkov
Author at Traders Union

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.

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Olga Shendetskaya
Olga Shendetskaya
Author and editor at Traders Union

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.

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