BitoPro, offering 15+ tradable coins/tokens, offers a Quick Order service with a 100 TWD minimum order size that allows buying/selling crypto with Taiwan Dollar. The platform has a native token called BITO.
BitoPro Information and Regulation
BitoPro, established by the BitoEX team in 2014, is the largest cryptocurrency exchange in terms of market share in Taiwan.
Operated by BitoGroup, the company is not regulated by any financial authorities.
BitoPro Exchange Features and Specifics at a Glance
The company offers a range of features that define its services and operations. Summary of Specifications:
Exchange | BitoPro |
Launch Date | 2014 |
Levels | Non-Verified, Level 1, Level 2 |
Trading Fees | From 0.1% Down to 0.036% |
Restricted Countries | China, US, Macau, Hong Kong |
Supported Coins | 15+ |
Futures Trading | None |
Minimum Deposit | 1 USD |
Deposit Methods | Crypto, Bank Transfers, Convenience Stores |
Withdrawal Methods | Crypto, Bank Transfers, Convenience Stores |
Maximum Leverage | 1x |
Minimum Trade Amount | Varies |
Security Factors | 2FA, AAA Rating in cer.live, ISO 27001, Bug Bounty |
Services | Auto-Invest, Grid Bot, BitoDebt, Quick Order |
Customer Support Ways | Email, Phone, Ticket |
Customer Support Hours | Monday to Friday, 9:30-18:00 for Phone Services Monday to Friday, 9:30-20:00 for Online Services |
Fiat Deposit | TWD |
Affiliate Program | Yes |
Orders Execution | N/A |
Native Token | BITO |
User Levels
BitoPro implements a tiered user level structure for user verification. Here is a rundown on levels and their limitations:
Level | Available Options |
Non-Verified | No Feature Available |
Level 1 Phone Verification | Adding The Currency To The Custom List |
Level 2 Identity Verification | All Features |
What Is The Commission Structure?
BitoPro offers a fee structure that gives users discount based on their trading volume or native asset balance. The table below discusses the costs:
Level | 30-Day Trading Volume | or | BITO Balance | Maker / Taker |
VIP 0 | < 3,000,000 TWD | / | < 3,000 BITO | 0.1% / 0.2% |
VIP 1 | ≥ 3,000,000 TWD | ≥ 3,000 BITO | 0.09% / 0.18% | |
VIP 2 | ≥ 10,000,000 TWD | ≥ 10,000 BITO | 0.07% / 0.14% | |
VIP 3 | ≥ 30,000,000 TWD | ≥ 20,000 BITO | 0.06% / 0.12% | |
VIP 4 | ≥ 150,000,000 TWD | ≥ 30,000 BITO | 0.0125% / 0.1% | |
VIP 5 | ≥ 300,000,000 TWD | ≥ 40,000 BITO | 0.0125% / 0.0875% | |
VIP 6 | ≥ 600,000,000 TWD | ≥ 50,000 BITO | 0.0125% / 0.045% |
Note that if you use your BITO balance to pay for fees, a 20% discount applies. Similar to many other crypto exchanges, there is no deposit fee, but a withdrawal commission applies, varying based on the currency/asset.
Available Cryptocurrencies on BitoPro
The exchange lags behind in terms of available symbols, supporting only over 15 cryptocurrencies. Most other companies have a list of at least 60-70 coins and tokens. Some Available Assets:
- Bitcoin (BTC)
- Ethereum (ETH)
- Ripple (XRP)
- Litecoin (LTC)
- Bitcoin Cash (BCH)
- Cardano (ADA)
- BITO Coin (BITO) - BitoPro's native token
Futures Contracts/Margin Trading
As of the latest information available, BitoPro exchange does not offer futures or margin trading. While it's not a necessary feature in an exchange, some other platforms provide it to users.
Account Signing Up and Verification
The registration and authentication process on BitoPro is designed to be straightforward while ensuring compliance with regulatory requirements. Here's a step-by-step guide to getting started:
- Visit the website and click on "Sign Up" at the top;
- Provide your email address and create a strong password (or continue with a Google/Apple account);
- Verify your email address by providing the Verification Code sent to your inbox.
Now, your account on the exchange is created. For verification, you must verify your phone number and submit required documents on the website.
BitoPro Security Measures and Factors
The exchange maintains the security of user funds and data by taking these measures:
- Two-Factor Authentication (2FA)
- A Rating in CERTIFIED (cer.live)
- ISO 27001 Certification
- Bug Bounty Program
CERTIFIED has ranked BitoPro the 20th most secure exchange among all platforms.
Funding/Withdrawal Methods on BitoPro
This crypto exchange has a limited list of options for deposits and withdrawals, with 3 main choices:
- Crypto transactions
- Bank transfers
- Convenience stores
Based on the available data, TWD (Taiwan Dollar) is the only fiat currency accepted on the platform.
Trust Scores and Evaluation Ratings
BitoPro's score on CoinGecko is decent, but on other resources, they are mixed. We will have a look at these ratings in this section:
- Trustpilot: 3.4/5 with only one review
- ScamAdviser: User score 1.4/5 (based on 9 reviews) with a Trustscore of 76/100 given by the website
- CoinGecko: 8/10 as evaluated by the site
The fact that there are too few reviews make user scores invalid. However, the trust scores published by companies are above acceptable.
Copy Trading and Other Investment Services on BitoPro
The exchange offers 3 features that allow traders to earn passive profits:
- Grid Bot Trading: Allows users to set up a grid of buy and sell orders within a specified price range;
- Auto-Invest: Enables traders to set up recurring purchases of cryptocurrencies, implementing a dollar-cost averaging (DCA) strategy;
- BitoDebt: An offering from BitoPro that allows users earn interests on lending cryptocurrencies.
Writer's Opinion And Conclusion
BitoPro provides Grid Bot, Auto-Invest, and BitoDebt as 3 investment options for earning passive income.
The company has received a 8/10 trust score from "CoinGecko" and a 76/100 rating from the ScamAdviser website.
The company has an "A" rating on CERTIFIED and is ranked 20th among most secure crypto platforms.
