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
- USDT 0
- Web platform
- Mobile Apps
- Only limit orders are supported
- No passive income options.
Our Evaluation of Bitspay
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
Bitspay is a high-risk cryptocurrency exchange with the TU Overall Score of 1.99 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Bitspay 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.
Bitspay is a good choice for traders who value security and transparency in cryptocurrency trading. It is suitable for users who require a reliable exchange with mandatory identity verification and adherence to international regulatory standards. However, Bitspay may not meet the needs of those who require a wider range of trading instruments or investment opportunities.
Brief Look at Bitspay
Bitspay is an Estonia-based cryptocurrency exchange launched in January 2020. The platform is regulated to comply with anti-money laundering (AML) and counter-terrorism financing (CTF) laws. Bitspay offers access to trading major cryptocurrencies, including Bitcoin, Ethereum, USDT, and USDC, catering to traders worldwide. Trading options are limited to spot trading digital assets without leverage. Margin trading, derivatives trading, and other investment products are not available.
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- No minimum deposit requirement;
- User-friendly interface and simple navigation;
- Global accessibility;
- High security level is ensured by the mandatory KYC (Know Your Client) procedure.
- No support for fiat currencies and no investment programs;
- Limited choice of trading instruments.
TU Expert Advice
Financial expert and analyst at Traders Union
Bitspay is a cryptocurrency exchange designed for a convenient and secure trading experience for users of all levels. However, the lack of investment tools may limit its appeal to those seeking a platform not only for active trading, but also for long-term capital accumulation through automated or passive strategies.
While Bitspay's lack of advanced trading features may be limiting for some, it compensates with high-quality trading services, low fees, and a strong focus on security and user experience. The exchange's strict KYC procedures, while positive for security-conscious users, may deter novice traders who find the verification process burdensome. However, the platform's user-friendly interface makes it accessible to a wide range of users.
Bitspay is a good option for those seeking a reliable platform with a focus on simplicity. For active cryptocurrency traders, the exchange offers favorable conditions, deep liquidity, and fast order execution. However, the lack of fiat currency support and investment tools may limit its appeal for more ambitious traders and investors.
Bitspay Summary
Your capital is at risk. Cryptocurrency trading can be extremely risky. Cryptocurrency trading can lead to large and immediate financial losses. The volatility and unpredictability of the price of cryptocurrency relative to fiat currency may result in significant loss over a short period of time. Transactions in cryptocurrency may be irreversible, and, accordingly, losses due to fraudulent or accidental transactions may not be recoverable. The nature of cryptocurrency may lead to an increased risk of fraud or cyber attack.
| 💻 Trading platform: | Web platform and mobile apps |
|---|---|
| 📊 Accounts: | Live account |
| 💰 Account currency: | USDT, USDC, BTC, etc. |
| 💵 Deposit / Withdrawal: | Cryptocurrencies |
| 🚀 Minimum deposit: | USDT 0 |
| ⚖️ Leverage: | No |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | No |
| 💱 Commission: | Spot: 0,1%-0,1% |
| 🔧 Instruments: | 21 supported coins, Fiat. |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | No |
| 📋 Order execution: | Limit |
| ⭐ Trading features: |
Only limit orders are supported; No passive income options. |
| 🎁 Contests and bonuses: | No |
Bitspay is a spot cryptocurrency exchange that does not offer margin trading or derivatives, such as futures. However, the platform compensates with low trading fees and a user-friendly interface powered by TradingView charts.
Bitspay Key Parameters Evaluation
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Regulation and safety
Bitspay received a score of 4.75/10, indicating a low level of security and regulatory compliance. This suggests that the platform may lack essential protections, and users should exercise extreme caution.
- No successful hacks history
- 2FA
- Government-regulated
- No facial recognition
- Not U.S regulated
- No investor protection fund
- Cold wallet storage is not mandatory
Bitspay Security Factors
We also compared Bitspay against the top two competitors with the highest scores in our overall ranking based on the most critical security indicators.
| Bitspay | OKX | Kraken | |
| Tier-1 regulation | No | No | Yes |
| Government-regulated | Yes | Yes | Yes |
| Investor protection fund | No | Yes | No |
| 2FA | Yes | Yes | Yes |
| Facial recognition | No | Yes | No |
| Cold wallet storage | No | Yes | Yes |
| Successful hacker attacks | No | No | No |
Is Bitspay a regulated crypto exchange?
Bitspay is regulated by a government authority, ensuring compliance with national and international standards. However, it does not hold Tier-1 regulation (e.g., in the U.S., UK, Germany, Spain, France, Australia, Singapore, or other jurisdictions with strict financial oversight). While this regulation provides an added layer of security and legitimacy, it may not offer the highest level of investor protection found in top-tier regulatory environments.
Bitspay is authorized or licensed in accordance with local regulations in the following regions: .
Is verification (KYC) mandatory at Bitspay?
Yes, KYC verification is mandatory at Bitspay. You will need to complete the verification process before you can open an account and access the platform's full range of services.
In which countries is Bitspay available?
Bitspay complies with international sanctions and regional restrictions. Services are limited or unavailable in the following countries: . For the most up-to-date information on regional availability, please contact Bitspay support.
Is Bitspay available in the USA?
Yes, Bitspay is available in the USA. However, availability may vary by state due to local regulations. We recommend checking the official website or contacting support for up-to-date information specific to your location.
Bitspay commissions and fees
Bitspay received a 7.75/10 score for its trading fees. While Bitspay is not the cheapest crypto exchange, the fees remain reasonable and competitive within the market.
- Spot fee below industry average
- No deposit fee
- Withdrawal fee may be applied
- P2P fee applied
What are Bitspay trading fees?
We analyzed Bitspay’s crypto fees and compared them to the top two competitors, both of which hold high average positions in our rankings. To establish a comprehensive benchmark, we also calculated the average fee score based on an evaluation of over 100 cryptocurrency exchanges.
Bitspay trading fees vs competitors
| Bitspay | Nexus Trade | Paxful | Industry average | |
| Spot, maker fee (%) | 0,1 | 0,22 | 0 | 0.15 |
| Spot, taker fee (%) | 0,1 | 0,22 | 0 | 0.194 |
What are Bitspay deposit and withdrawal fees?
| Deposit fee, % | 0 |
| Withdrawal fee, % | 0,0008 BTC 0,003 ETH |
Does Bitspay offer P2P trading?
No, Bitspay does not support P2P transactions. However, you can explore the best alternatives in our dedicated list of top P2P exchange platforms, offering a variety of secure options for peer-to-peer transactions.
Deposit and withdrawal
Bitspay received a 4/10 rating for its deposit and withdrawal services. Bitspay offers limited funding options and may charge fees, which could be inconvenient for many users.
- No deposit fees
- Bank cards accepted for instant deposits
- Many cryptocurrencies for deposits and withdrawals
- Bank transfers not available
- Withdrawal fee applies
- No PayPal option
Deposit and withdrawal options
Bitspay supports the following deposit and withdrawal options: Bank card, Crypto.
Bitspay Deposit and withdrawal options vs competitors
| Bitspay | OKX | Kraken | |
| Bank transfers | No | No | Yes |
| Bank card | Yes | Yes | Yes |
| Crypto | Yes | Yes | Yes |
| PayPal | No | No | Yes |
What is Bitspay minimum deposit?
The minimum deposit at Bitspay is 10 USD/USDT or 0,0005 BTC. The minimum trade size is 2 USD/USDT, which also serves as the minimum amount required to start trading on the platform.
Bitspay minimum deposit vs competitors
| Bitspay | OKX | Kraken | |
| Minimum deposit, USD or USDT | 10 | 10 | 10 |
| Minimum deposit, BTC | 0,0005 | 0,0005 | 0,0001 |
| Minimum trade amount, USD/USDT | 2 | 0,00001 | 1 |
Does Bitspay support fiat money?
Bitspay supports fiat currency trading and account funding. The following fiat currencies are accepted:
Supported coins & markets
Bitspay received a score of 2/10 in this category, indicating a modest offering of assets and markets. While Bitspay covers essential trading functions, the number of supported coins, fiat currencies, and investment tools may be insufficient for users seeking more comprehensive options.
- Fiat currencies supported
- Other supported products
- Crypto futures not available
- Crypto options not available
Bitspay supported coins and markets vs competitors
We compared Bitspay with leading exchanges in terms of supported coins, NFT access, and derivatives like futures and options to help users assess the platform’s product range and trading flexibility.
| Bitspay | OKX | Kraken | |
| Supported coins | 21 | 329 | 278 |
| Futures/Perpetual contracts | No | Yes | Yes |
| Options | No | Yes | No |
| NFTs | No | Yes | Yes |
Bitspay passive income options vs competitors
We also compared Bitspay with top competitors in terms of passive income opportunities such as staking, farming, and copy trading, to help users evaluate the platform’s earning potential beyond regular trading.
Trading apps & tools
Bitspay received a score of 5.5/10 for offering a solid set of tools. The apps are intuitive and reliable, though certain advanced features remain limited or could benefit from further development.
- Positive user feedback on the iOS app
- App data protection with 2FA
- Mobile indicators allowed
- Android app score 4,2
- No access to API
- No access to Copy Trading
- No access to TradingView features
Trading apps
Bitspay provides web and mobile apps for both Android and iOS users, with an average rating of 4,1 on the App Store and 4,2 on Google Play. Our review focused on core features important to traders, particularly trading functionality and security tools, to evaluate how convenient and safe the Bitspay platform is for mobile use.
| Bitspay | Bybit | |
| 2FA | Yes | Yes |
| Face ID | No | Yes |
| Mob Indicators | Yes | Yes |
| Alerts | No | Yes |
| Advanced Orders | No | Yes |
| Trading with bots | No | Yes |
| API | No | Yes |
| Extra trading platforms | No | MT4 |
Does Bitspay offer a desktop app?
No, Bitspay does not currently offer a desktop app. However, users can access the platform via its web version, which provides more comprehensive functionality compared to the mobile apps.
Does Bitspay offer advanced charting with TradingView integration?
No, Bitspay does not currently support TradingView integration. However, it provides its own built-in charting tools with basic indicators and timeframes.
Contacts
| Official site | https://www.bitspay.io/ |
|---|
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