deposit:
- $1
Trading platform:
- Web platform
- Mobile application
BitWell Review 2024
deposit:
- $1
Trading platform:
- Web platform
- Mobile application
- Transactions with fiat money are not available
Summary of BitWell Crypto Exchange
BitWell is a high-risk cryptocurrency exchange with the TU Overall Score of 1.71 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by BitWell 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. BitWell ranks 177 among 173 companies featured in the TU Rating, which is based on the evaluation of 100+ criteria.
BitWell is a crypto exchange that offers traders wide trading opportunities. It offers access to a large number of cryptocurrency pairs and a proprietary functional platform.NOTE!
If you are planning to trade cryptocurrencies, and not just keep your savings in crypto wallets, we recommend that you choose one of the top brokers with reliable regulation and access to trading crypto CFDs. This type of trading will help you avoid holding your cryptocurrency in e-wallets of exchanges, which quite regularly get hacked. Also, availability of leverage will allow you to trade crypto CFDs for amounts much higher than your deposit.
Traders Union experts recommend considering Top 3 companies from our rating:
BitWell is an exchange for trading cryptocurrency pairs, futures and options headquartered in Singapore. It was established in June 2020, and three months later, the exchange launched its native token WELL that runs on the Ethereum blockchain (ERC20) and is connected to Binance Smartchain BSC (BEP20). BitWell is a platform not only for trading, but also investing in cryptocurrencies, with its trading platforms fully customized to service transactions with derivatives and crypto pairs in the Spot market. In addition, the exchange offers its clients bonuses and partnership programs. BitWell has communities in Telegram, Twitter and Weibo.
💰 Account currency: | Cryptocurrencies |
---|---|
🚀 Minimum deposit: | No requirements |
⚖️ Leverage: | 1:1 for spot trading and options, up to 1:100 for futures |
💱 Spread: | for Spot — 0.1%, for options — 0.015%-0.04%, for futures — -0.02%-0.07% |
🔧 Instruments: | Cryptocurrency pairs, futures and options |
💹 Margin Call / Stop Out: | No |
👍 Advantages of trading with BitWell:
- High liquidity and low-delay execution speed;
- Support of Market, Limit and Stop-Limit orders;
- Access to trading ordinary Call/Put options;
- Wide selection of trading instruments;
- No minimum deposit requirement;
- An opportunity to earn passive income by locking cryptocurrencies in your wallet and attracting new clients;
- Universal trading platforms with their interface customized to various strategies and crypto assets.
👎 Disadvantages of BitWell:
- Fiat currencies are not supported;
- Margin trading is available only for orders on futures contracts;
- Staking programs are available from time to time, not regularly.
Evaluation of the most influential parameters of BitWell
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Expert Review of BitWell
BitWell is a cryptocurrency exchange for trading digital assets in the Spot, futures contracts and options. You can perform transactions involving these instruments using one web platform or mobile apps. BitWell is based in Singapore, but its software is adapted not only for Asian traders. In addition to Indonesian and Chinese, the website and the trading platform are also available in English.
BitWell is not for buying cryptocurrencies. If a trader does not have digital money, he/she needs to register on a different exchange first, buy cryptocurrency and then transfer it to his/her account on BitWell. After that, traders can trade 43 coins and tokens in the Spot market. Overall, BitWell provides access to trading over 100 cryptocurrency pairs.
Fiat money is not quoted on this exchange. There is only one payment method available: transferring cryptocurrencies from external wallets and other cryptocurrency exchanges. That is also the only withdrawal option. BitWell announced the launch of its own Visa card that can be used to pay online and offline with digital money. At the moment, the card is only available in certain regions.
Dynamics of BitWell’s popularity among
Traders Union’s traders, according to 2023 data
Investment Programs, Available Markets, and Products of the Crypto Exchange
BitWell is an exchange where you can trade crypto assets, but also earn passive income by investing in them. The offer is available for holders of WELL tokens. From time to time, traders can earn by staking other cryptocurrencies on BitWell. The available programs are posted in the Staking section on the website. Partnership programs are another passive income option.
WELL Vault — earning income by holding native tokens of the exchange
During the program, investors can buy WELL, and after the program ends, receive free tokens from the prize pool. The minimum purchase amount is 100 WELL. The more money clients put in the pool, the higher the reward. Calculation of free tokens is automatic and based on a special formula.
Prize pool:
100,000 WELL for each 10,000,000 WELL deposited;
200,000 WELL — for 30,000,000 WELL;
300,000 WELL — for 50,000,000 WELL;
400,000 WELL — for 70,000,000 WELL;
450,000 WELL — for 80,000,000 WELL.
The prize pool will start to increase as soon as investors deposit more than 10 million WELL to the vault. Upon reaching this amount, every million of tokens deposited to the pull will bring investors 5,000 WELL more than in case of standard rates.
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.
BitWell Partnership program
Clients of the exchange can receive a reward in the form of a percentage of the trading fees of the traders they invited. At that, both the referrer and the referral receive the reward. The amount of the reward depends on the trading instrument: for Spot, the referrer gets 24% of the referral’s fees, Options and Perpetual — 18%. Referral gets a 16% discount on the fees for Spot trading, and 12% - for options and perpetual.
Previously, BitWell provided an opportunity to a partner to determine the percentage of the reward within the set limits. However, at the moment, the reward is calculated automatically.
Trading Conditions for BitWell Users
You can start trading on BitWell with any amount. The fees depend on the financial instrument and the type of the order. For futures trading, also the 30-day trading volume matters. Market and Limit orders are available, including Stop Limit.
$1
Minimum
deposit
1:100
Leverage
24/7
Support
💻 Trading platform: | Web platform, mobile apps for iOS and Android |
---|---|
📊 Accounts: | Standard |
💰 Account currency: | Cryptocurrencies |
💵 Replenishment / Withdrawal: | Cryptocurrencies |
🚀 Minimum deposit: | No requirements |
⚖️ Leverage: | 1:1 for spot trading and options, up to 1:100 for futures |
💼 PAMM-accounts: | No |
📈️ Min Order: | No requirements |
💱 Spread: | for Spot — 0.1%, for options — 0.015%-0.04%, for futures — -0.02%-0.07% |
🔧 Instruments: | Cryptocurrency pairs, futures and options |
💹 Margin Call / Stop Out: | No |
🏛 Liquidity provider: | No |
📱 Mobile trading: | Yes |
➕ Affiliate program: | Yes |
📋 Orders execution: | Market, Limit, Stop Limit |
⭐ Trading features: | Transactions with fiat money are not available |
🎁 Contests and bonuses: | Free airdrops, Welcome Bonus (periodically) |
Broker comparison table of trading instruments
BitWell | Bybit | OKX | XT.com | Huobi Global | CoinEx | |
Forex | No | No | No | No | Yes | No |
Metalls | No | No | No | No | No | No |
Crypto | Yes | Yes | Yes | Yes | Yes | Yes |
CFD | No | No | No | No | No | No |
Indexes | No | No | No | No | No | No |
Stock | No | No | No | No | No | No |
ETF | No | No | No | No | No | No |
Options | No | No | No | No | No | No |
BitWell Commissions & Fees
Account type | Spread (minimum value) | Withdrawal commission |
Standard | 1$ for a USD 1,000 transaction in the Spot | Yes |
Traders Union experts compared average fees of three exchanges: BitWell, Bybit and Binance. The comparative table below shows which exchange offers the best trading conditions.
Broker | Average commission | Level |
BitWell | $1 | Low |
Binance | $6 | Medium |
Bybit | $20 | High |
Contacts
Foundation date | 2018 |
Registration address | Huangpu, Shanghai, China |
Official site | https://www.bitwellex.com/ |
Read also about other cryptocurrency exchanges:
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FAQs
Do reviews by traders influence the BitWell rating?
Any review can raise or lower the rating of any broker in the general list of brokers. To read reviews about BitWell you need to go to the broker's profile.
How to leave a review about BitWell on the Traders Union website?
To leave a review about BitWell, register on the Traders Union website or you can also leave a review through Facebook.
Is it possible to leave a comment about BitWell on a non-Traders Union client?
Anyone can leave feedback about BitWell on multiple participating clients; however, Traders Union clients also receive additional payments later for working with any broker listed at the Forex market.