Is Bitrue 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 Bitrue is a good crypto exchange to start trading with. In this article you will learn whether Bitrue is good for beginners, what its pros and cons are and what a novice trader needs to know.
Short summary about the broker Bitrue
The Bitrue exchange was founded in Singapore. The parent company was registered in 2018 by an authority under the Ministry of Finance called the Accounting and Corporate Regulatory Authority (ACRA). At the moment, Bitrue has offices globally, including in the USA, Europe, and the Asia-Pacific region. The main coins of this exchange platform are Bitcoin (₿), Ethereum (Ξ), Tether (₮), and Ripple. In addition, operations with more than 60 coins are available here, including the proprietary BTR token. Bitrue is not just for active cryptocurrency traders. The exchange also offers options for generating passive income.
| 💰 Account currency: | 67 cryptocurrencies including BTC, LTC, and XRP |
| 🚀 Minimum deposit: | No deposit requirements |
| ⚖️ Leverage: | 1:1 is for trading cryptocurrency pairs; 1:2-1:125 are for transactions with futures contracts |
| 💱 Spread: | 0.098-0.280% |
| 🔧 Instruments: | cryptocurrencies, futures for cryptocurrencies, ETFs |
| 💹 Margin Call / Stop Out: | No |
Bitrue Pros and Cons
👍 Advantages of trading with Bitrue:
•ability to trade more than 160 pairs of cryptocurrencies;
•the possibility to start working with any amount that is comfortable for you;
•trading commission values comparable with competitors;
•storage of client funds in cold wallets;
•multi-level account protection with two-factor authentication and PIN;
•trading platforms with TradingView charts with which many traders are familiar;
•availability of passive income solutions.
👎 Disadvantages of Bitrue:
•cryptocurrency trading is carried out only at the expense of the trader’s funds, without the use of leverage;
•there is no chat on the site where you can chat with the operator in real-time;
•fiat cannot be withdrawn.
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 Bitrue Users
Before you start working with an exchange, it is important that you evaluate its trading conditions. Bitrue offers traders the following conditions.
| 💻 Trading platform: | Proprietary mobile applications and browser platform |
| 📊 Accounts: | Standard |
| 💰 Account currency: | 67 cryptocurrencies including BTC, LTC, and XRP |
| 💵 Replenishment / Withdrawal: | Crypto wallets, Visa and MasterCard, ACH, international bank transfer |
| 🚀 Minimum deposit: | No deposit requirements |
| ⚖️ Leverage: | 1:1 is for trading cryptocurrency pairs; 1:2-1:125 are for transactions with futures contracts |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | from 0 |
| 💱 Spread: | 0.098-0.280% |
| 🔧 Instruments: | cryptocurrencies, futures for cryptocurrencies, ETFs |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | No |
| ⭐ Trading features: | Several types of investment and staking programs |
| 🎁 Contests and bonuses: | Trial funds - virtual funds to pay off commissions for trading futures, contests, and discounts on the purchase of coins (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 Bitrue commissions and fees. In this section, you will find trading fees of the exchange as well as withdrawal fees.
The size of the trading commission on Bitrue does not depend on the type of order (taker, maker) and turnover. The lowest fees are paid by traders who trade pairs with BTC, ETH, and USDT which is 0.098%. The exceptions are the XRP/BTC, XRP/ETH, and XPR/USDT pairs, for which the commission is 0.2%. The exchange fee for transactions with all other pairs is 0.280%. The commission is reduced by 20% if the trader pays it in BTR. Commissions for deposits and withdrawals of cryptocurrencies are dynamically adjusted under the conditions of the blockchain network. If a trader buys crypto with fiat through a Legend Trading partner using a bank transfer, then the commission is 0.08%. It is free if the ACH channel is used. The fee for buying crypto with fiat currencies for cards is 5% per transaction or $10 (whichever is greater).
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | $2 - with a trading volume of $1,000 | Only network fees of the blockchain system |
Investment programs of Bitrue
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. Bitrue offers the following passive income options.
Investment Programs, Available Markets, and Products of the Crypto Exchange
Bitrue offers users several types of investment programs based on Staking. At the same time, they differ in the amount of interest and the terms for freezing funds, so each trader can easily choose the option that suits him. The exchange also pays a referral fee for attracting new customers.
Investment solutions based on staking
The Yield Farming program allows you to receive passive income not only for storing crypto assets but also for lending them. The exchange blocks funds for a period of 7 to 90 days and pays the investor 2-114.8% per annum after the end of the freezing period specified in the offer. The Power Piggy investment service is similar to Yield Farming but allows you to receive income even before the end of the funds’ blocking period. Interest is available from 1.9% to 20% per annum. Income is accrued every day around 16:00 UTC.
If part of the funds is kept in the BTR token, then the investor receives the following percentages:
6.1% on XRP;
7% on ADA, LINK, VET, and ZIL;
8.5% on BTC;
10% on USDT;
11% on ETH.
Each Bitrue client can participate in investment programs. However, you should take into account that some of them have a minimum investment amount. For the entire duration of the programs, the funds contributed by the investor are blocked and they cannot be used for exchange and trading. You can exit Yield Farming early and withdraw your investments, but in that case, you’ll earn no interest.
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.
Bitrue’s affiliate program
The first type of referral reward is the percentage of the trading commission of connected users. The base level is 25%. If the referrals’ wallet balance is equal to or greater than $10,000, then the amount of payments increases to 50%.
The second type of bonus for partners is a percentage of referrals’ investments in the Power Piggy program. The amount of payment is 0.7% per annum.
A separate type of referral program is available to clients who trade futures through Bitrue. They can earn up to $3,000 per month. Conditions for earning funds are: the referral must deposit at least $500 to Bitrue, transfer $100 or more to a futures account, and trade $1,000 or more every week.
Conclusion. Is Bitrue good for beginners?
The Bitrue 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, Bitrue could be considered as a good cryptocurrency exchange for a start.
- Is Coinmama a Good Crypto Exchange for Beginners?
- Is Crex24 a Good Crypto Exchange for Beginners?
- Is Bitbank a Good Crypto Exchange for Beginners?
- Is Bitfinex a Good Crypto Exchange for Beginners?
- Is Gate.io a Good Crypto Exchange for Beginners?
- Is Binance a Good Crypto Exchange for Beginners?
- Is ACE Exchange a Good Crypto Exchange for Beginners?
- Is 3Commas a Good Crypto Exchange for Beginners?
- Is BitForex a Good Crypto Exchange for Beginners?
- Is eToroX a Good Crypto Exchange for Beginners?
- Is BitMEX a Good Crypto Exchange for Beginners?
- Is Celsius a Good Crypto Exchange for Beginners?
- Is Coinsuper a Good Crypto Exchange for Beginners?
- Is Cryptopay a Good Crypto Exchange for Beginners?
- Is CoinSwitch Kuber a Good Crypto Exchange for Beginners?
- Is EXMO a Good Crypto Exchange for Beginners?
- Is CoinEx a Good Crypto Exchange for Beginners?
- Is Felixo a Good Crypto Exchange for Beginners?
- Is Bitstamp a Good Crypto Exchange for Beginners?
- Is CEX.io a Good Crypto Exchange for Beginners?
- Is COSS Exchange a Good Crypto Exchange for Beginners?
- Is Luno a Good Crypto Exchange for Beginners?
- Is Buda a Good Crypto Exchange for Beginners?
- Is AEX a Good Crypto Exchange for Beginners?
- Is Bitcoiva a Good Crypto Exchange for Beginners?
- Is Changelly a Good Crypto Exchange for Beginners?
- Is ProBit a Good Crypto Exchange for Beginners?
- Is Flitpay a Good Crypto Exchange for Beginners?
- Is Delta Exchange a Good Crypto Exchange for Beginners?
- Is FatBTC a Good Crypto Exchange for Beginners?
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.
Related Articles
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.