Bitrue charges normal users a 0.098% fee for trading BTC, ETH, and USDT pairs. The commission is 0.02% for all futures trading pairs.
There are over 700 digital assets available on the exchange in a total of +1,300 symbols. Also, 4 main investment options [Staking, Power Piggy, Launchpool, Auto Invest] are offered.
Bitrue Information and Regulation
Bitrue, operating under the legal name Bitrue Limited, stepped onto the crypto scene in July 2018.
This cryptocurrency exchange, headquartered in Singapore, is not regulated by any financial authorities, similar to most of its competitors in the industry.
Bitrue Exchange Summary of Features
We will continue this article with a quick rundown of what the mentioned exchange brings to the table:
Exchange | Bitrue |
Launch Date | July 2018 |
Levels | Normal, VIP1, VIP2, VIP3 |
Trading Fees | From 0.05% to 0.098% for Spot From 0.012% to 0.02% for Futures |
Restricted Countries | United States, China, North Korea, Iran, Cuba, Syria, Hong Kong SAR, Ukraine, Russia |
Supported Coins | +700 |
Futures Trading | Yes |
Minimum Deposit | $50 |
Deposit Methods | VISA, MasterCard, Apple Pay, Bank Transfers, Crypto |
Withdrawal Methods | VISA, MasterCard, Apple Pay, Bank Transfers, Crypto |
Maximum Leverage | 125x |
Minimum Trade Amount | 10 USD |
Security Factors | 2-Factor Authentication, Multisignature Cold Wallet, Bug Bounty |
Services | Power Piggy, Staking, Launchpool, Auto Invest |
Customer Support Ways | Email, Ticket, Live Chat |
Customer Support Hours | 24/7 |
Fiat Deposit | Yes |
Affiliate Program | Yes |
Orders Execution | N/A |
Native Token | BTR |
User Levels: Structure and Details
Bitrue employs a tiered user level structure titled "VIP Program", which impacts trading fees and other benefits. Here's a quick overview:
VIP Level | 30D Average Asset Balance (USDT) | Or/and | 30D Average Spot Trading Volume (USDT) | Spot Trading Fees | Futures Trading Fees | ||
Maker | Taker | ||||||
Normal | N/A | / | N/A | 0.098% | 0.02% | 0.06% | |
VIP1 | 50,000+ | 1,000,000+ | 0.08% | 0.016% | 0.04% | ||
VIP2 | 200,000+ | 2,000,000+ | 0.058% | 0.014% | 0.0375% | ||
VIP3 | 500,000+ | 5,000,000+ | 0.05% | 0.012% | 0.035% | ||
Other benefits for VIP users include priority customer support, welcome gifts, and more.
As stated on the website, users who hold BTR can have an extra 20% discount on trading commissions.
Commissions and Costs of The Exchange
When it comes to fees, Bitrue does a good job. We already discussed the trading commissions based on user levels earlier.
There are no other charges in working with the exchange, other than the blockchain withdrawal fees, which depends on the network.
List of Available Coins and Tokens
A long list of over 700 cryptocurrencies is available in Bitrue. The offered coins/tokens are from various categories, including:
- AI
- DeFi
- Memes
- GameFi
- Inscription
- Fan Tokens
- Layer2
- Web3
- Metaverse
- Smart Contracts
Does Bitrue Offer Futures and Margin Trading Options?
The company does offer futures for traders willing to earn more (and risk more). The futures trading pairs are divided in these 3 types:
- USDT futures
- Coin-M futures
- USDC futures
The maximum leverage available for these pairs is 125x.
User Registration and Verification On Bitrue
In order to trade on the mentioned exchange, the first step is creating an account. Follow the steps below:
- Visit the company's website and click "Sign up";
- Enter your email address, then click "Next". Alternatively, continue with a Google or an Apple account;
- Enter the code sent to your email address;
- Create a password of 8-20 characters with the required conditions.
You have finished creating your account on the exchange's website. For the access to all products and services, you will be required to pass the verification process with providing additional information and documents.
Bitrue Security Evaluation
Security is a crucial concern for any crypto exchange. Bitrue has implemented 3 measurements for the safety of users' funds and data:
- 2FA (Two-Factor Authentication)
- Multisignature cold wallet technology
- Bug Bounty program to identify and fix vulnerabilities
However, it's worth noting that Bitrue has experienced security breaches in the past. In 2023, the platform lost $23M to the hackers from one of its "hot" crypto wallets.
Also, earlier In 2019, the exchange suffered a hack resulting in the loss of about $5 million in crypto assets.
Payment Options and Funding Methods
Bitrue supports a typical list of methods for depositing and withdrawing funds, with 5 choices:
- Bank transfers
- VISA
- MasterCard
- Apple Pay
- Cryptocurrency deposits
How Are The Trust Scores on Reliable Sources?
When evaluating any exchange, we take into account the scores on Trustpilot, CoinGecko, and other reputable sources.
Here's how Bitrue stacks up on the mentioned platforms:
- Trustpilot: 1.7/5 (based on approx. 300 reviews)
- io: 1.7/5, with about 30 ratings
- CoinGecko: 6/10, calculated based on the website's algorithms
- ScamAdviser: 30/100 Trustscore, 1.6/5 user reviews (+300 ratings)
Mostly, these scores are concerningly low and suggest that many users have had negative experiences with Bitrue.
Common complaints include issues with withdrawals, customer support, and account access.
Copy Trading and Investment Options
Bitrue does a good job in this matter, offering 4 options for earning passive income:
- Staking
- Power Piggy
- Launchpool
- Auto Invest
All these services, except the 4th mentioned one, are various staking methods which enable users to earn interests in exchange for locking up their assets.
Auto Invest consists of plans for automatic investments in crypto. There are 3 pre-defined ones [BTC+ETH, XRP, BTR] available, with the ability to create for yourself.
Writer's Opinion and Conclusion
Bitrue provides 3 futures contract types [USDT, Coin-M, USDC] with leverage of up to 125x.
The exchange has received a 1.7/5 score on "Trustpilot", with approx. 300 user reviews. On the other hand, "CoinGecko" has given the platform a trust score of 6 out of 10.
