Is FatBTC 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 FatBTC is a good crypto exchange to start trading with. In this article you will learn whether FatBTC is good for beginners, what its pros and cons are and what a novice trader needs to know.
Short summary about the broker FatBTC
The FatBTC cryptocurrency exchange is a multifunctional platform for exchanges, commodities, and over-the-counter cryptocurrency trading. You can trade Bitcoin (₿), Ethereum (Ξ), USDS, DOGE, dozens of other cryptocurrencies and tokens. Only the USD and EUR are presented from among the fiat currencies. The site has its proprietary FAT coin, which can be used to reduce fees by 50%. The trading fees themselves are lower than the market average of 0.2% fixed cost for most assets. In addition to the trading terminal in the browser, there is a mobile trading app. The company offers a flexible listing via its proprietary program of open partnership called the FatCloud. The referral program is standard and only one-level. Its investment direction is represented by the Piggy Bank FatBTC program.
| 💰 Account currency: | Cryptos, USD, and EUR |
| 🚀 Minimum deposit: | No |
| ⚖️ Leverage: | No |
| 💱 Spread: | Market |
| 🔧 Instruments: | Cryptos, currencies |
| 💹 Margin Call / Stop Out: | No |
FatBTC Pros and Cons
👍 Advantages of trading with FatBTC:
•loads of cryptocurrencies and tokens; the site's FAT token, which can be used to reduce trading commissions;
•simplistic, intuitive trading terminal, plus an app for mobile trading;
•low fees — fixed at 0.2% for taker and maker (for some assets there are special conditions);
•the token pool is constantly updated due to free listing (you can put your coin on the platform in a few clicks);
•it is not compulsory to pass the KYC verification to trade (but there will be a limit on the withdrawal — up to 2 BTC per day);
•the high-performance engine provides stability of the platform even under peak loads; trading is 24/7;
•a profitable referral program that allows you to earn 50% of your partners' fees.
👎 Disadvantages of FatBTC:
•No demo accounts or specialized solutions for novice traders;
•No call center, you can get in touch with the technical support only through tickets, email, and the Telegram channel.
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:
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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.
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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.
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Availability of a simple method to buy cryptocurrencies. An exchange service or a P2P exchange would be an advantage for an exchange.
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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.
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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.
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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 FatBTC Users
Before you start working with an exchange, it is important that you evaluate its trading conditions. FatBTC offers traders the following conditions.
| 💻 Trading platform: | In the web browser — TradingView |
| 📊 Accounts: | Standard |
| 💰 Account currency: | Cryptos, USD, and EUR |
| 💵 Replenishment / Withdrawal: | Bank cards and accounts, electronic and cryptocurrency wallets |
| 🚀 Minimum deposit: | No |
| ⚖️ Leverage: | No |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | From 0 |
| 💱 Spread: | Market |
| 🔧 Instruments: | Cryptos, currencies |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | No data |
| ⭐ Trading features: | Tons of cryptocurrencies and two fiat currencies, free listing, universal investment program, profitable referral program, low fees, which can be reduced even more in several ways |
| 🎁 Contests and bonuses: | No data, except for TU’s rebates |
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 FatBTC commissions and fees. In this section, you will find trading fees of the exchange as well as withdrawal fees.
The FatBTC cryptocurrency exchange offers a democratic system of commissions. There are no trading levels on the platform, which means that there is no need to trade a certain amount to get an advantageous commission. From the moment of registration at the site, the transaction fee for most assets is 0.2%. It does not differ for a taker or a maker.
Fees can be reduced by 50% by using a FAT token. To do so, you need to have enough pad tokens in your account to pay the fee. After activating the appropriate option, FAT will be prioritized for trading fees and their amount will be halved to 0.1%.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | Up to 0.2% per order | Yes |
Investment programs of FatBTC
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. FatBTC offers the following passive income options.
Investment Programs, Available Markets, and Products of the Crypto Exchange
The FatBTC crypto exchange offers only one investment solution, the Piggy Bank FatBTC program. Any registered user can participate in this program (KYC verification is not required).
Under the program, a cryptocurrency exchange client must present their cryptocurrency assets. The exchange uses the borrowed funds at its discretion (for example, to finance third-party blockchain projects or for mining). A customer just needs to choose an asset and make a deposit using the Piggy Bank service. The term of participation in the program can be from 1 to 365 days. The deposit is blocked during the time of participation, so it is temporarily impossible to use it for exchange and trading. Withdrawals are also not available during this period.
Program yield ranges from 1 to 25%. The interest rate depends on the asset, deposit period, and market conditions. The interest rates are constantly changing but are fixed for the client as soon as he joins the program by making a deposit (the limits within which the rate may vary are stipulated in the terms of the program).
There are no restrictions on participation in Piggy Bank FatBTC, but it is necessary to read the terms of the program in the section of the site with the same name beforehand.
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.
FatBTC’s affiliate programs:
The referral program of FatBTC crypto exchange is standard and differs from similar programs of its competitors only by higher earnings. To participate in it, you need to go to the "Partner Exchange" section of the site. This section will contain a personal referral link of a partner. This link should be used to attract new clients to the crypto exchange by place it on any platform and in any applications, including social networks and messengers. Each user who follows this link and registers on the exchange site will become an attractive referral.
For each active referral, the crypto-exchange will pay the partner a reward equal to 50% of trading commissions. Payments are made in the transaction currency. The program has no expiration date, i.e. a partner receives income from his referral for as long as the referral trades on this platform. The program has only one level, which means that a partner will not receive income from commissions of users who were invited to the site by his first-level referrals. The number of referrals (attracted clients) is unlimited, and a partner can invite any number of users to the site.
Conclusion. Is FatBTC good for beginners?
The FatBTC 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, FatBTC 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.
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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.