Blocktrade Review 2024
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
- $1
- Proprietary platform
- No investment programs, Monero (XMR), DASH, Tether (USDT) cannot be traded
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
- $1
- Proprietary platform
- No investment programs, Monero (XMR), DASH, Tether (USDT) cannot be traded
Our Evaluation of Blocktrade
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
Blocktrade is a high-risk cryptocurrency exchange with the TU Overall Score of 2.9 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Blocktrade 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. Blocktrade ranks 142 among 173 companies featured in the TU Rating, which is based on the evaluation of 100+ criteria.
Blocktrade is an exchange registered in the EU, offering user-friendly platforms to buy and sell popular cryptocurrencies, including for euros. The exchange is designed for active traders who use their own money to trade and prefer to pay fixed fees regardless of the trading volume and types of trades.
Brief Look at Blocktrade
Blocktrade was registered in January 2020 in Tallinn, Estonia. Its operation is regulated by the Estonian Financial Intelligence Unit. The list of available trading assets includes all popular cryptocurrencies and also USDC stablecoin. Euro is the only fiat currency supported by the exchange. At the moment, the exchange accepts clients not only from the European Union, but from 120 countries. Once you’ve verified your account, you can start trading with any amount. For this, Blocktrade offers a web platform and proprietary mobile applications.
- Regulated by an EU regulatory authority;
- Fiat deposits and withdrawals are accepted, not only cryptocurrency;
- Minimum deposit: USD 1 for cryptocurrencies and EUR 3 for fiat;
- Trading fees are at the same level as competitors;
- Deposit/withdrawal with debit/credit cards and bank transfers;
- Mobile trading apps with TradingView charts;
- Quick and simple registration.
- Poor choice of cryptocurrencies for trading;
- No passive income options, such as staking and referral program;
- Margin trading is not available.
TU Expert Advice
Financial expert and analyst at Traders Union
Blocktrade operates within the European legal field. The company titled BlocktradeOperations OÜ is registered as a provider of virtual asset services in Estonia (No. 14901959). Blocktrade SA, a legal entity on the register of companies of Luxembourg (No. B248375), is the owner of the trading platform and proprietary software.
Blocktrade is targeted at active traders, offering them two types of services: exchange (crypto for fiat, fiat for crypto, crypto for crypto), and also holding and administering crypto assets. Euro is the only available fiat at the moment. It is traded in pairs with 4 cryptocurrencies: ECS, BTC, ETC and LTC. To deposit and withdraw euros, clients can use their debit/credit cards or a bank account opened in his/her name.
Blocktrade trading platforms have all necessary instruments for technical analysis. Traders can also use one of two useful options: Quick Trade for one-click trading and Hot Trade for viewing the most traded pairs. Unlike other popular platforms, Blocktrade does not accrue interest for holding digital coins in your wallet. The exchange has developed a native token, but at the moment, its holders do not get any benefits, trading or investing ones.
Blocktrade Summary
| 💻 Trading platform: | Proprietary platforms – for browsers and mobile devices |
|---|---|
| 📊 Accounts: | Standard |
| 💰 Account currency: | EUR, cryptocurrencies |
| 💵 Replenishment / Withdrawal: | Debit/credit cards, external crypto wallets, bank transfers |
| 🚀 Minimum deposit: | Equivalent of $1 for crypto, EUR 3 for deposits in fiat |
| ⚖️ Leverage: | Not provided |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | 0.001 BTC, 0.01 BCH/ETH, 0.1 LTC, 10 XRP |
| 💱 Commission: | 0.3% |
| 🔧 Instruments: | Cryptocurrency pairs, crypto/EUR pairs |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | No |
| 📋 Orders execution: | Market, Limit |
| ⭐ Trading features: | No investment programs, Monero (XMR), DASH, Tether (USDT) cannot be traded |
| 🎁 Contests and bonuses: | No |
Blocktrade has no minimum deposit requirements for cryptocurrencies and other tokenized assets. However, due to the fixed fee for fiat deposits, traders cannot deposit less than EUR 3.
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Commissions & Fees
| Account type | Commission (minimum value) | Withdrawal commission |
|---|---|---|
| Standard | 3$ for a transaction of USD 1,000 | Charged on fiat and cryptocurrencies |
In order to understand how beneficial the fees of Blocktrade are, we compared them with the fees charged by other crypto exchanges. We chose Bitfinex and Binance for the comparison.
| Broker | Average commission | Level |
|---|---|---|
|
$3 | |
|
$6 | |
|
$0.1 |
Investment Options
Blocktrade is an exchange for active cryptocurrency trading. Previously, it offered investment income for owning its shares, which could be bought with the exchange’s native coin Blocktrade Token (BTT). However, at the moment, it is no longer used or distributed.
Also, the exchange does not offer passive income for staking crypto assets or a referral reward for bringing in new clients.
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.
Blocktrade Partnership program
At the time when this review was prepared, the exchange did not offer referral programs to its clients.
User Satisfaction