Bitonic Fees and Minimum Deposit - TU Expert review
After considering a crypto exchange’s security, examining its fees is the next crucial step. Lower fees translate to higher potential profits. Newcomers to crypto trading may also want to consider the minimum deposit required to start trading, as they might prefer to begin with a smaller investment.
Traders Union analysts have assessed Bitonic fees and minimum deposit requirements to help prospective crypto traders make informed decisions.
Short introduction of 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.
👍 Advantages of trading with 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.
👎 Disadvantages of Bitonic:
•The platform offers the purchase and sale of bitcoins only;
•Registration requires confirmation of a bank account;
•Bitonic doesn’t provide leverage.
Bitonic Commissions and Fees
Bitonic charges a fixed trading fee in the amount of 0.25%. The charge for depositing EUR through iDEAL or SEPA is 0.5 EUR per payment. If a client deposits 0.1 BTC or more, the crypto exchange doesn’t charge fees. The payment for depositing less than 0.1 BTC is 0.0003 BTC. Fiat withdrawals via SEPA cost 1 EUR. When withdrawing bitcoins, a client has to cover the miner’s commission, which is on average 0.0003 BTC. If a trader wants to accelerate the transaction validation, he can pay a commission of 0.0005 BTC. The cost of an urgent EUR withdrawal is 0.25% of the requested amount but no less than 7.5 EUR.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | 2.5 EUR for a $1,000 transaction | Yes |
A broker is an intermediary between a trader and an exchange. Therefore, brokers charge fees for their services. The fees may have different structure.
There are the following fees in the Crypto market:
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Spread – the difference between the buy and the sell price of an asset.
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Commission per lot.
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Commission per trade.
Broker fees may differ depending on the trading account type. For example, on some accounts spread is used as a trading fee, and on others – commission per lot.
Why is it important to consider the minimum deposit at a cryptocurrency exchange?
Accessibility: The minimum deposit helps traders determine if they can afford to start trading on an exchange.
Risk Management: Exchange-set minimum deposits ensure traders have sufficient funds to cover potential losses and fees, preventing financial overextension.
Platform Suitability: The minimum deposit amount can be an indicator of the exchange’s target audience and trading volume, aiding traders in selecting a platform aligned with their goals.
Cost Considerations: Assessing minimum deposit requirements helps traders account for trading expenses.
Are the fees and minimum deposit requirements at Bitonic suitable for beginners?
Analysis of Bitonic shows that the broker has a rather high minimum deposit. It could pose a problem for traders, who are only starting their path in trading. Nevertheless, the fees are low. Therefore, the broker will be a good choice for professional traders.
FAQs
If the fees are low, how does a broker make money?
As a rule, brokers with low fees earn on the fees thanks to high trading volume and also non-trading fees.
Can you reduce the fees?
As a rule, the fees depend on the trading account type. Also, companies may have special offers.
Can the minimum deposit differ depending on the trading account type?
Yes. Brokers often encourage clients to deposit large amounts to the account by offering better trading conditions.
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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.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.