Review of Bitrue
Bitrue is an exchange for experienced traders that offers all the leading coins, with a particular focus on XRP (Ripple). Along with its trading division, it offers decentralised financial services like loans and interest secured against cryptocurrency as well.
Pros & Cons
What can I do with Bitrue?
Bitrue is a trading platform that lets you swap between over 90 coins and 200 pairs. All of the most popular coins are available and it offers variable trading fees that tend to be slightly lower than competing exchanges.
Bitrue was formed in 2018 and is exclusively focused on cryptocurrency. You can’t trade fiat currencies, futures, or other derivatives but it does accept customers from the United States.
Bitrue cryptocurrencies and trading options
What cryptocurrencies can you trade on Bitrue?
Major cryptos traded on Bitrue
- Bitcoin Cash
- Bitrue Coin
Bitrue core currency pairs
All Bitrue trading options
Bitrue allows you to trade a wide variety of coins and pairs but no derivatives are available. You can choose from over 200 pairs and more than 90 different cryptos.
Can I trade with leverage on Bitrue?
No, Bitrue doesn’t currently offer the option of leverage or margin trading. However, the exchange supports other features like spot trading, perpetual contracts, and credit card purchases.
What are the spreads?
Bitrue charges a variable trading fee that depends on the pair you want to trade. The fee varies between 0.098%-0.198%. BTC, ETH, and USDT trading pairs come with a fee of 0.098%, while XRP trading pairs have a fee of 0.16%.
|Trading pair||Trading fee|
|ETH/BTC & ETH/USDT||0.098%|
Fees, limits, and payment options on Bitrue
What are the deposit and withdrawal fees, limits, and speeds?
Bitrue offers two methods to deposit your money; credit/debit card and cryptocurrency, which means you cannot use wire transfer or other third-party paying options. The exchange doesn’t charge any deposit fees, but does charge a variable fee for withdrawals.
There are no minimum or maximum deposit/withdrawal limits stated on its website. But we do know that Bitrue is XRP-focused and one of the top XRP exchanges, which means it attracts traders by offering free deposits and withdrawals for that coin.
1-2 business days
How much are Bitrue’s fees and commissions?
Bitrue charges a smaller, variable trading fee than other similar exchanges, but it varies depending on the coin being traded. Aside from some pairs, the general trading fees are outlined in the chart below.
|Fee type||Fee amount||Commission|
|BTC, ETH & USD trading pairs||0.098%||–|
|XRP trading pair||0.16%||–|
Bitrue trade sizes and limits
Bitrue doesn’t mention any minimum or maximum trading volumes for its cryptocurrencies, which lets us think that the minimum trade you can place is the smallest unit/fraction of the coin/token you would like to trade.
Bitrue trading platform
What devices can I use Bitrue on?
Bitrue is available both as a web trading platform online and a mobile app. You can download the mobile app for free either from the App Store (iOS phones & tablets) or Google Play (Android phones & tablets).
- iOS mobile devices
- Android mobile devices
Can I use Bitrue in my country?
Bitrue is available almost anywhere in the world, including in the United States (with some state exceptions), Canada, Singapore, and Japan. It is not available in countries and regions where these exchanges are prohibited by law, such as in China. Select your country from the list below to see if it is available where you are.
Is Bitrue available in my language?
Bitrue is available in six languages, including English, Japanese, Korean and Spanish.
How easy is it to use Bitrue?
It’s an easy-to-use trading platform where you can quickly exchange, buy, or sell coins and pairs. The mobile app is equally intuitive and allows you to perform most of your trades securely with just a few taps of your screen.
The platform lacks the advanced features and sophistication that professional and institutional traders may expect, but it is great for beginners and also those who specialise in trading Ripple (XRP).
Although only launched in 2018, Bitrue has already gained international recognition and enjoys the support of a growing community of over 400,000 users. Here are some of the exchange’s key features:
Low fee XRP trades And no withdrawal fees
Bitrue is one of Ripple’s recommended exchanges for all XRP trades. Bitrue added XRP as a base pair back in 2018 and has maintained a close relationship with the XRP community ever since.
Multi-signature cold wallet
Bitrue’s platform has been built with user safety as the number one priority. 99% of clients’ funds are kept in multi-signature cold wallets where they cannot be physically hacked or compromised.
Security and regulation
Is Bitrue safe?
Bitrue markets itself as being a safe, stable, high-performing exchange. It provides an advanced multi-level clustering structure, two-factor authentication, and a strong security system to protect the sensitive data of its clients. The exchange is considered safe and has been rated B by the Mozilla Observatory.
Am I and my cryptocurrency protected?
Bitrue keeps 99% of its customers’ assets in cold wallets, which makes it impossible for hackers to access the accounts and steal coins. However, Bitrue doesn’t offer any account compensation scheme or carry third-party insurance should clients’ accounts be hacked.
Is Bitrue regulated?
No, Bitrue is not regulated by any recognised financial authority in any country as yet.
Do I have to verify my account with Bitrue?
Not necessarily. People who want to trade anonymously will be happy to know that Bitrue doesn’t run a KYC (Know Your Client) program, which means you don’t have to spend valuable time waiting for your account to be approved before you can start trading.
Simply sign up using your email address and you will receive an e-mail verification code. Add a strong password, deposit funds, and you are ready to start trading.
Bitrue is more like an exchange and less like a traditional trading platform, so it doesn’t provide any educational resources. Its Help Center answers technical questions and is the extent of Bitrue’s resources section.
Tools and charting
Bitrue provides traders with basic limit, market, trigger ordering capabilities, multi-timeframe charts, and some technical indicators such as oscillators and moving averages. However, it doesn’t offer any advanced trading tools, charts or bots beyond this. The platform is mainly intended for beginner traders and has limited resources for large-volume traders.
Bitrue doesn’t offer the option of live chat or a phone number to call, so the only way you can contact customer service is via email at firstname.lastname@example.org. You can also get in touch with the support team on any of its official social media channels, such as Telegram, Facebook or Twitter.
Despite being a relatively young exchange, having launched in 2018. Bitrue has earned the trust of over 400,000 users worldwide and it represents the perfect platform for XRP owners and traders, with its low, variable trading fees and no withdrawal fees for the crypto coin.
Overall the web-based and mobile app platform are quite easy to use and intuitive, while offering some of the lowest trading fees in the industry, starting at only 0.098%. Bitrue also keeps 99% of client funds segregated in cold storage wallets that themselves cannot be hacked, even though the platform itself suffered an attack earlier in 2019.
If you are just starting out on your crypto trading journey and need a simple, reliable, and relatively safe exchange, Bitrue should receive your consideration.
How to buy and sell cryptocurrency on Bitrue
How to buy crypto on Bitrue
- Sign in to your Bitrue account
- Go to the Buy/Sell bar at the top of your homescreen
- Click on Legend Trading
- Select the coin and amount you want to buy
- Click on “Buy”
- Confirm your buy order
How to sell crypto on Bitrue
- Sign In to your account
- Go to the Buy/Sell bar on top of the first page
- Click on Legend Trading
- Select the coin or pair and amount you want to sell
- Click on “Sell”
- Confirm your sell order
Bitrue was launched in July 2018 and its ultimate ownership is not publicly known at this time. The CEO of Bitrue is Curis Wang.
By charging a variable fee on every trade depending on the crypto pair you wish to trade. It also charges a small withdrawal fee for some currencies, although fees are significantly smaller than on other exchanges.
It depends on your local rules. You might be required to pay tax but things like your trade volume, profit margin, and local legislation are all variables that can affect it. Check your local laws to see if you need to pay tax.
Send an email to customer support requesting the cancellation of your account and they will walk you through the account deletion process.
Log into your account. After selecting the preferred coin or a coin pair, click “Limit” for order type. Select your preferred price or quantity. Click “Ask” to complete the order.
If you forgot your password, click on the “Sign In” button on the homepage and select “Forgot Password”. A verification email will be sent to your registered email address to help you reset your password.
No, Paypal is not an accepted payment method with Bitrue yet.
All your open trades are processed in real-time and will be visible in your trade history. In the unlikely case Bitrue closes while you have open trades, all trades will be processed once the platform is running again.
In the event that Bitrue ceases operations altogether, it does not carry any deposit insurance by any financial authority therefore your deposits are not protected in any way.
Yes, you can access your full trading history by going to the “Assets” tab in your trading dashboard and selecting “Order History”.
Yes, Bitrue offers the ability to pay directly in supported crypto coins.
Yes, Bitrue offers a number of different bonuses, such as interest on account that you refer to the exchange and rewards when performing certain actions such as linking an external wallet.
Go to your Coinbase account and click the ‘send’ option in your crypto wallet, fill in all the required data, and provide an external Crypto wallet address for your Bitrue account. You will then receive a QR code to complete the transaction.
Yes, Bitrue offers an anonymous trading option and doesn’t run a KYC program that requires signing in using a valid ID and proof of residence.
Yes, Bitrue offers an integrated cold storage wallet for storing your crypto.
- Log into your Bitrue account
- Go to “Assets”, select “Withdraw”
- Select the coin you want to withdraw, then click on “+Add address”
- Enter “Address”, “Label”, “Google verification code”
- Click on the “Submit” button
- Enter “Amount”, “Assets Password”, “Google verification code”
- Click on the “Submit” button
- You can see check your withdrawal status by going to “Assets” and selecting “Transaction History”
Yes, Bitrue was hacked with approximately $4.2 million in assets lost as a result on June 26, 2019.