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Is BitWell a Good Crypto Exchange for Beginners?

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Is BitWell a Good Crypto Exchange for Beginners?

Updated: February 27, 2025

Mikhail Vnuchkov

Contributor

Reviewed by

Olga Shendetskaya

Editor

Full BitWell
overview

BitWell's Top Features for Beginners

BitWell’s beginner-friendly features, such as a demo account, low minimum deposit, educational materials, copy trading, staking, a user-friendly mobile app, customer support, fiat deposit and withdrawal options, and low fees, were compared against the top two competitors to ensure a comprehensive evaluation.

	BitWell	OKX	Kraken
Demo account
Minimum deposit, USD or USDT		10	10
P2P exchange
Spot maker fee		0,08	0,25
Fiat transactions
Bank cards
Commissions and fees	2.82	9.25	6.2
Educational tools
Crypto bonuses
Staking
Copy trading
		Open an account Your capital is at risk.	Open an account Your capital is at risk.

Why We Focused on Comparing These Beginner-Friendly Features:

Demo account – Allows beginners to practice trading without risking real funds, helping them gain confidence and understand the platform.

Minimum deposit, USD or USDT – Ensures low entry barriers, making it affordable for newcomers to start trading with a small initial investment.

P2P exchange – Enables direct cryptocurrency trading between users, often with no intermediaries, providing a straightforward and accessible way to trade.

Spot maker fee – Highlights competitive trading fees for placing limit orders, which is cost-effective for those starting with spot trading.

Fiat transactions – Simplifies the process of depositing and withdrawing funds using local currencies, making it convenient for first-time users.

Bank cards – Provides an easy and familiar way for beginners to fund their accounts quickly using Visa or Mastercard.

Commissions and fees – Transparent and competitive fee structures help beginners calculate costs and avoid unexpected charges.

Educational tools – Tutorials, webinars, and guides equip beginners with the knowledge needed to trade confidently and effectively.

Crypto bonuses – Offers incentives like signup rewards or deposit bonuses, encouraging newcomers to explore trading.

Staking – Allows beginners to earn passive income on their holdings, introducing them to advanced cryptocurrency features with minimal effort.

Copy trading – Lets new traders learn by replicating the strategies of experienced traders, reducing the learning curve.

Short summary about the broker BitWell

BitWell, a cryptocurrency exchange founded in 2020, raises several red flags. Despite its Singaporean origins, the exchange is registered in the Seychelles, a jurisdiction known to harbor numerous scam brokers.
BitWell does not have a license from reputable financial authorities, which casts doubt on its reliability. The exchange's website only provides a user agreement, omitting crucial legal information about the company, its license, or address.
Online reviews frequently mention investment losses with BitWell. Traders complain of artificial obstacles to withdrawing funds, with the exchange inventing various fees, insurance requirements, and fines to delay the process and minimize payouts. In some cases, BitWell clients have been unable to recover their funds altogether.
BitWell is an exchange with a dubious reputation, and engaging with it could result in financial loss. It is advisable to seek out more reliable and proven platforms for cryptocurrency trading.
Due to numerous complaints and questionable activities, BitWell has been blacklisted by Forex brokers.

💰 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

BitWell Pros and Cons

👍 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.

Trading Conditions for BitWell Users

Before you start working with an exchange, it is important that you evaluate its trading conditions. BitWell offers traders the following conditions.

Minimum deposit, USD or USDT
Futures leverage
Spot leverage
Coins Supported
Affiliate program
Replenishment / Withdrawal	Cryptocurrencies
Trading features	Transactions with fiat money are not available

BitWell's Fees

We compared XXX's fees with the top two competitors to provide a clear understanding of how affordable the exchange is for its users.

	OKX	Kraken
Spot Taker fee, %	0,1	0,4
Spot Maker fee, %	0,08	0,25
Futures Taker fee, %	0,05	0,05
Futures Maker fee, %	0,02	0,02
Withdrawal fee	0,0004 BTC 2,6 USDT	0,0005 BTC

The size of commissions and fees is also an important factor of choice. Traders Union analysts have prepared a short review of BitWell commissions and fees. In this section, you will find trading fees of the exchange as well as withdrawal fees.

Information

BitWell charges a 0.1% taker and maker fees for spot trading. For options trading, makers pay a 0.015% fee, and takers – 0.04%. The fees for trading perpetual futures contracts depends on the 30-day trading volume and range from -0.02% to 0.03% for makers and 0.03% - 0.07$ for takers. Traders pay the blockchain fee for cryptocurrency withdrawal.

Account type	Spread (minimum value)	Withdrawal commission
Standard	1$ for a USD 1,000 transaction in the Spot	Yes

Investment programs of BitWell

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. BitWell offers the following passive income options.

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.

Important!

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.

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.

Conclusion. Is BitWell good for beginners?

The BitWell 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, BitWell could be considered as a good cryptocurrency exchange for a start.

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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.