Bitrue Review 2023

analysis
Published on By
bitcoin
Image by VIN JD from Pixabay

Bitrue, a Singapore-based crypto exchange, was established in 2018 under the Ministry of Finance’s ACRA. With offices worldwide, it facilitates trading in Bitcoin, Ethereum, Tether, Ripple, and over 60 other coins, including its native BTR token. 

In 2023, Traders Union published a comprehensive Bitrue review. Beyond active trading, Bitrue also presents opportunities for passive income generation. These income streams cater to both novice and experienced crypto enthusiasts, expanding Bitrue’s appeal to a broader audience.

Bitrue: Advantages and disadvantages

In 2023, Traders Union articulated several pros and cons of utilizing Bitrue for crypto trading in its detailed review.

Advantages:

  • Capability to trade over 160 cryptocurrency pairs.
  • Flexibility to commence trading with any comfortable amount.
  • Competitive trading commission rates.
  • Safekeeping of client assets in cold wallets.
  • Enhanced account security through two-factor authentication and PIN.
  • Familiar TradingView charts integrated into trading platforms.
  • Provision of passive income opportunities.

Disadvantages:

  • Trading exclusively relies on the trader’s own funds, without leverage.
  • Absence of live chat for real-time conversations with operators.
  • Inability to withdraw in fiat currencies.

Overall summary

Bitrue is a versatile exchange offering abundant opportunities for active cryptocurrency trading and investment. It provides clients with intuitive, secure trading platforms and a substantial array of financial instruments.

Expert review of Bitrue

TU experts have noted several key features of Bitrue, a multi-faceted cryptocurrency exchange:

  • Bitrue collaborates with Ripple, offering numerous XRP pairs.
  • The platform utilizes its native BTR token for trading alongside BTC, ETH, USDT, and XRP. The token also reduces transaction fees by 20%.
  • Clients can fund their accounts using 67 different cryptocurrencies.
  • Purchasing crypto is supported via card or bank transfer using multiple fiat currencies such as USD, EUR, GBP, AUD, HKD, SGD, CHF, and MXN.
  • Bitrue’s website, platforms, and support are multilingual, supporting 12 languages.
  • TradingView-based terminals enable charting across 10 timeframes.
  • Security measures include two-factor authentication and a 6-digit PIN for trading and withdrawals, with the majority of assets in cold storage.
  • In addition to crypto pairs, clients can trade ETFs and engage in leveraged futures transactions.
  • The platform supports market, limit, and preset trigger orders.
  • Withdrawals can only be made to crypto wallets, sans any additional exchange fees.
  • Customer support is available exclusively via email, with no live chat or ticketing system.

Analysis of the main features of this crypto exchange

Traders Union analysts conducted an evaluation of Bitrue based on the following criteria:

  • Overall Score: 3.31/10
  • Execution of Orders: 3.1/10
  • Investment Instruments: 3.52/10
  • Withdrawal Speed: 3.16/10
  • Customer Support Work: 3.46/10
  • Variety of Instruments: 2.94/10
  • Trading Platform: 3.68/10

Bitrue investment solutions

According to TU, Bitrue’s Yield Farming program enables investors to earn passive income by storing and lending crypto assets, with freezing periods of 7 to 90 days and annual returns from 2% to 114.8%. Power Piggy offers daily interest rates of 1.9% to 20%.

Key points 

Yield Farming:

  • Funds are blocked for 7 to 90 days.
  • Annual returns range from 2% to 114.8%.
  • No early exit option; withdrawing funds before the freezing period ends means no interest is earned.

Power Piggy:

  • Income can be earned before the end of the blocking period.
  • Daily interest rates range from 1.9% to 20%.
  • Income is accrued daily around 16:00 UTC.

BTR Token percentages:

  • XRP: 6.1%
  • ADA, LINK, VET, ZIL: 7%
  • BTC: 8.5%
  • USDT: 10%
  • ETH: 11%

It’s important for investors to carefully review the terms and conditions of each program and consider their investment goals and risk tolerance before participating.

Comparing Bitrue with other traders

Traders Union compares Bitrue to other brokers on the market for trading cryptocurrencies.

  • Bybit: Focuses on leveraged trading with up to 100x leverage, more than Bitrue. No spot trading, making it less versatile.
  • OKEx: Comprehensive futures trading platform, with a wide range of coins, but not as user-friendly as Bitrue. Regulated, enhancing security confidence.
  • Binance: World’s largest exchange, immense liquidity, and diverse offerings surpass Bitrue. However, regulatory scrutiny can affect service availability.
  • Huobi Global: Established, offers a vast array of coins, but the user interface is less intuitive than Bitrue’s. Strong emphasis on security.
  • KuCoin: Known for listing new, promising coins before others. Lacks Bitrue’s loan service. User-friendly interface but has faced security issues.

In addition, Huobi Global crypto exchange stands as a major competitor in the crypto landscape. It offers an extensive selection and sophisticated tools, but its interface may seem complex for beginners compared to Bitrue. Despite this, its strong focus on security appeals to many seasoned traders.

Conclusion

Bitrue provides a comprehensive crypto trading platform, with an emphasis on security and passive income generation. While it has some limitations, its wide array of coins and unique features make it a compelling choice for both new and experienced cryptocurrency enthusiasts. For more information, visit Traders Union’s official website.