Bitrue Exchange Review
Bitrue is a centralized exchange that occupies #53 on Guru InvestingExchange Tracker. Bitrue has trading volume US$2,573,979,683 in the last 24 hours and US$692,087,859,976 in the last 7 days.
Bitrue currently has 619 cryptocurrencies, 10 paper currencies and 1069 markets (cryptocurrency trading pairs). The most popular trading pair on Bitrue: BTC/USDT.
Compare Bitru next to other exchanges here: Exchange comparison tool.
Bitrue is a centralized cryptocurrency exchange (CEX). Based in Singapore, it offers spot and derivatives markets, leveraged trading and several earning programs. Clients can also buy and sell assets directly on the Bitrue crypto exchange without intermediaries.
Clients must comply KYC rules to access all services. The Bitrue cryptocurrency exchange provides services in most countries, with the exception of China and countries subject to US sanctions. Residents of Texas or New York also cannot access services.
Markets
Bitru spot market is the main service provided by the platform. The market only supports cryptocurrency trading. Fiat currencies are not specified. However, traders can choose stablecoins such as Tether (USDT).
Bitrue is known as Ripple (XRP)-centric exchange. XRP was chosen as the main asset due to the scalability of the Ripple network and cross-border functionality. XRP token holders can access lower commission rates and participate in social trading.
Like many cryptocurrency exchanges, Bitrue hosts its own token – Bitru coin (BTR). Token holders may be eligible for benefits and discounts. Overall, there are over 1,100 Bitrue trading pairs and over 500 digital assets on the market.
The derivatives market offers leverage packages for options traders. There are two key types of futures: USDT Margin and Coin Margin. Clients can trade using tokens that provide leverage up to 3x.
In addition to traditional cryptocurrency trading, clients can also use Exchange Traded Funds (ETFs). When trading ETFs, there are restrictions on the price of the Bitrue cryptocurrency, and traders may also have leverage up to 3x. ETF trading is restricted in several countries, including the US, Turkey and Hong Kong.
Bitrue exchange fees are fixed on all markets.. The platform does not use a tiered system or a producer-receiver model. All rates are subject to change at Bitrue’s discretion. There are three categories of fees:
- XRP/BTCXPR/USDT and XRP/ETH trading pairs – 0.2%;
- Other trading pairs XPR – 0.280%;
- Other trading pairs BTC, ETH and USDT – 0.098%.
Rates are not affected by Bitrue trading volume. Clients who own BTR tokens receive a 30% discount:
- trading pairs XRP/BTC, XPR/USDT and XRP/ETH – 0.14%;
- Other trading pairs XPR – 0.196%;
- Other trading pairs BTC, ETH and USDT – 0.0686%.
There are no deposit fees on the Bitrue cryptocurrency exchange. Withdrawal fees are flexible and may vary depending on external factors such as network congestion and market conditions. For each asset there is a certain minimum required withdrawal amount.
other services
In addition to the Bitrue crypto exchange, the platform also supports direct cryptocurrency purchases. The process is peer-to-peer and offers multiple payment methods including credit card and international bank transfers.
Yield Farming Center is a feature that allows clients to put their assets on the line and receive passive rewards. There are over 20 DeFi pools available. Bitrue does not charge additional fees for staking and farming.
Power pig This is another betting service. There are two types of staking investments – flexible and fixed. Depending on the asset you choose, you can lock your tokens for up to 30 days. The rewarded price of Bitrue cryptocurrency may vary depending on different interest rates.
Developers can access Bitrue API Library. It provides access to a number of DeFi features, including spot trading, quote requests, and live market data such as daily Bitrue volume. Users can set up an API key and gain access to a set of open source tools.
About company
Bitrue cryptocurrency exchange was founded in July 2018 in Singapore Kuris Wang. The company is headquartered in Singapore, with international offices located throughout the world.
In June 2019, a vulnerability in the Bitrue system led to a large-scale hack. The price of the stolen Bitrue cryptocurrency was estimated at $4.2 million in XRP and ADA. About 90 users were affected. The company issued a statement promising to reimburse all customers whose funds were stolen.
In September of the same year, the company announced plans to launch a crypto lending platform to expand its services and global reach. In April 2021, it was reported that the user base of the Bitcrue crypto exchange exceeded 4 million registered users.
In preparation for the Ethereum merger that took place in September 2022, Bitrue updated its ETH options listings. This was done to ensure that there would be an IOU in the event of a network hard fork.
Kuris Wang is the former CEO of the cryptocurrency exchange Bitrue. He is a business development expert who studied computer science at National Taiwan University. Wang left Bitrue in September 2021. He is currently the CEO of Legend Trading, a cryptocurrency trading firm that he co-founded.
Bitrue related pages
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A cryptocurrency exchange is an online platform where you can buy, sell, or trade cryptocurrencies like Bitcoin, Ethereum, and others.
Safety varies by exchange. Look for platforms with strong security measures, like two-factor authentication and cold storage for funds.
Consider factors like security, fees, available coins, user interface, and customer support.
Centralized exchanges are managed by a company, while decentralized exchanges operate without a central authority.
Many exchanges require Know Your Customer (KYC) verification for security and regulatory compliance.
Trading fees vary but typically include maker fees (for adding liquidity) and taker fees (for removing liquidity).
Yes, most exchanges offer cryptocurrency-to-cryptocurrency trading pairs.
Withdrawal times depend on the exchange and the cryptocurrency. Some are instant, while others may take hours or even days.
A wallet address is like a bank account number for cryptocurrencies. It’s required to send your crypto to the right place.
Yes, depending on your country’s tax laws, trading cryptocurrencies may have tax consequences. Consult a tax professional for guidance.
Yes, many cryptocurrency exchanges operate 24/7, allowing you to trade at any time.
A market order buys or sells at the current market price, while a limit order sets a specific price at which you want to buy or sell.
Yes, each exchange sets its own minimum and maximum trading limits, which can vary widely.
It’s not recommended. For security, it’s better to use a cryptocurrency wallet, especially for significant holdings.
Exchanges typically have account recovery processes, including password reset options and support for forgotten usernames.
Some exchanges offer insurance, but coverage can be limited. It’s essential to check an exchange’s insurance policy.
Use strong passwords, enable two-factor authentication, and be cautious of phishing scams and suspicious emails.
Yes, but it’s recommended to learn the basics of trading and understand the risks involved before you start.
Stablecoins are cryptocurrencies pegged to the value of a fiat currency like the US dollar. They provide stability and are commonly used for trading and transferring funds on exchanges.
Yes, regulations vary by country. Many countries have implemented or are considering regulations to govern cryptocurrency exchanges for consumer protection and financial stability.
