Bitonic 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 EUR
- Proprietary BL3P platform
- Transactions with EUR and BTC only
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 EUR
- Proprietary BL3P platform
- Transactions with EUR and BTC only
Our Evaluation of Bitonic
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
Bitonic is a high-risk cryptocurrency exchange with the TU Overall Score of 2.68 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Bitonic 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. Bitonic ranks 164 among 173 companies featured in the TU Rating, which is based on the evaluation of 100+ criteria.
Bitonic is a cryptocurrency exchange headquartered in Amsterdam and designed for buying and selling bitcoins for euros. Its clients can start trading from any amount of money, receive affiliate rewards, and set up direct deposits.
Brief Look at Bitonic
Bitonic is a cryptocurrency exchange, launched in 2012 under the title of Idealcoin. It was one of the first exchanges that offered trading bitcoins in the Netherlands. Bitonic has its proprietary BL3P platform on which one can buy or sell BTC for EUR and vice versa. Regarding investment solutions, this crypto exchange offers buying bitcoins without client participation by setting up automatic payments from crypto wallets or bank accounts. Bitonic doesn’t have requirements for deposits and charges a fixed fee regardless of their trading volumes and order types. Verification of bank accounts is mandatory on Bitonic.
- Rich experience. The exchange has been in business since 2012;
- Liquidity is provided by large cryptocurrency exchanges such as Kraken and Bitstamp;
- Fixed transaction fee for takers and makers;
- Absence of minimum deposit requirements;
- Automatic purchase of bitcoins at the average price on the day of the transaction;
- Access to placing not only market but also limit orders;
- Affiliate program with rewards for every purchase of bitcoins by referrals.
- The platform offers the purchase and sale of bitcoins only;
- Registration requires confirmation of a bank account;
- Bitonic doesn’t provide leverage.
TU Expert Advice
Financial expert and analyst at Traders Union
In 2022, the Bitonic cryptocurrency exchange celebrated its 10th anniversary. Since 2012, it has been constantly improving, raising its security level, and aiming to make its conditions as favorable as possible for its clients. For example, the exchange fixed the trading fee at 0.25% for takers and makers, and its developers created a proprietary BL3P platform for quick Bitcoin trading.
What has remained unchanged in the 10 years of Bitonic’s business, is its choice of trading instruments. One can still buy or sell only bitcoins here. The exchange’s founders are not planning to add other cryptocurrencies anytime soon. Another special aspect of Bitonic is that it uses its own exchange rate, which is based on the supply and demand on BL3P at a given moment and on prices on international exchanges such as Kraken and Bitstamp.
Bitonic takes measures to fight fraud. A client must confirm his bank account number by transferring 1 euro cent to the exchange. Fiat funds can only be deposited through SEPA transfers, and payments with cards or electronic wallets are not accepted. Withdrawals of funds can be made to a Bitcoin wallet or a confirmed bank account. Bitonic doesn’t pay interest on a client’s account balance.
Bitonic Summary
| 💻 Trading platform: | Proprietary BL3P platform ( web and mobile versions) |
|---|---|
| 📊 Accounts: | Standard |
| 💰 Account currency: | EUR and BTC |
| 💵 Replenishment / Withdrawal: | Bank transfers via iDEAL and SEPA, and crypto wallets |
| 🚀 Minimum deposit: | No requirements |
| ⚖️ Leverage: | No |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | 0.00001 BTC |
| 💱 Commission: | 0.25% of the transaction amount |
| 🔧 Instruments: | BTC |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | Bitstamp and Kraken |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | Market and limit |
| ⭐ Trading features: | Transactions with EUR and BTC only |
| 🎁 Contests and bonuses: | No |
The Bitonic cryptocurrency exchange is designed for buying and selling bitcoins for euros. It doesn’t have minimum deposit requirements and allows users to place market and limit orders. The taker and maker fee is fixed at 0.25% of the transaction amount.
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Commissions & Fees
| Account type | Commission (minimum value) | Withdrawal commission |
|---|---|---|
| Standard | 2.5 EUR for a $1,000 transaction | Yes |
The table below provides a comparison of the fees on Bitonic, Bitfinex, and Bybit crypto exchanges and clearly demonstrates which one of them offers the most favorable trading conditions.
| Broker | Average commission | Level |
|---|---|---|
|
$2.5 | |
|
$20 | |
|
$0.1 |
Investment Options
Bitonic offers two investment solutions, which are similar in their mechanisms. They involve buying bitcoins in a fully automatic mode and transferring them to a bank card or crypto wallet. Both strategies are based on dollar cost averaging (DCA), which allows investors to reduce the influence of volatility and purchase BTC at average prices.
Bundled Purchases: Automatic purchases of bitcoins under investor’s parameters
This feaure enables Bitonic’s client to buy bitcoins automatically, accumulate them, and then send them to a linked wallet with one transaction. This way, a trader gets two advantages. He buys the cryptocurrency without personal participation and saves on withdrawals to an external wallet. Bitcoins are bought at market prices as frequently as specified by an investor upon activation of the service and are stored in Bitonic’s internal wallet. After reaching the threshold indicated by a client, they are transferred to his bank account.
This is how it works. A client signs in to his profile, activates the Bundled Purchases service and indicates his bitcoin address. Then, he sets up the purchase amount (at least 5 EUR), purchase threshold in EUR (50, 100, 200, 500, or 1000 EUR), and frequency of the receipt of funds (daily, weekly, or monthly). After reaching the specified threshold, the accumulated bitcoins are automatically transferred to the client’s wallet with a single transaction.
Also, Bitonic’s clients can set up regular payments and receive bitcoins in their bank accounts. The cryptocurrency receipt speed depends on the bank. It varies from a few minutes to one business day. In some cases, however, depending on a blockchain congestion, it may take 5 business days for the funds to arrive.
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.
Bitonic affiliate program
Under the conditions of the referral program, a user gets a 0.25% reward for each purchase of bitcoins made by his referrals using his link. However, it’s not specified whether this is a percentage of the company’s trading volumes, revenues, or fees for transactions.
Bitonic’s affiliate program is only available to owners of websites or social media profiles dedicated to trading or exchanging bitcoins. A potential affiliate has to fill out an application and include in it the link to his web resource. After reviewing it, the company grants access to its affiliate program and payments.
User Satisfaction