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Bleutrade Review - is it scam or safe?

Bleutrade Review - is bleutrade.com scam or good cryptocurrency exchange?

RATING: 2 / 6 REVIEWS Bleutrade
Bleutrade is not regulated. We cannot guarantee your money is safe.

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Trading accounts and conditions

 

Account type Leverage Fees
Standard 1:1 0.25%

 

Bleutrade is a cryptocurrency exchange that offers spot trading in a fairly wide selection of cryptocurrencies: Bitcoin, Ether, Litecoin, Dash, Dogecoin, Bitcoin Cash, Bitcoin Gold, Name Coin and a whole lot of other more obscure tokens, a total of 55 cryptocurrencies and 1485 pairs.

 

The platform, however, does not support fiat currencies and the cryptocurrencies can only be traded for each other.

 

Bleutrade is by far not the only exchange that does not support fiat currencies. Others, like Binance, Okex, Bittrex, Quoine’s Qryptos offer similar services. Some of them, for example Bitmex and Qryptos even provide the option for leveraged trading, which is not the case with Bleutrade.

 

On the other hand, there are spot cryptocurrency exchanges who accept fiat currencies, as well as platforms that provide leveraged trading of alt-coins for fiat currencies and the other way around.

 

There are also forex and CFD brokers who offer trading in CFDs with cryptocurrencies as an underlying asset, but one must keep in mind that this is fairly risky, as per FCA’s recent warning. For that matter, trading in cryptocurrencies in general is quite risky, as they are prone to extreme price volatility and one can lose a lot, especially when engaging in leveraged trading.

 

>> See our list of regulated bitcoin forex brokers <<

 

The company says it does not require user identification, which suggests clients can remain anonymous. Indeed, Bleutrade does not even require e-mail verification.

 

The Company. Security of Funds

 

Company Country Regulation
Bleutrade Brazil None

 

Bleutrade is a Brazilian cryptocurrency exchange, although this does not become immediately apparent, as the company does not provide much information about itself. It says it accepts clients from across the world.

 

It is in the top ranked cryptocurrency exchanges by 24-hour volume. It has been launched in 2014 and claims it has around 30 000 users. It is by far not the only cryptocurrency exchange operating in the country. There are several local ones, as well as global ones like Coinmama and Local Bitcoins who offer their services in Brazil.

 

According to a statement of the Central Bank of Brazil from 2014, the cryptocurrencies are not regulated. Recently, however, the c-bank’s governor Ilan Goldfajn  said bitcoin and the likes are a bubble and likened them to a pyramid scheme. He also said that “the central bank is not interested in bubbles or illicit payments”. At the same time, reports of a Brazilian non-profit organization revealed that in 2016 bitcoin trading among Brazilian cryptocurrency exchanges surpassed gold spot trading on Brazil’s securities exchange.

 

According to user comments, trading on Bleutrade is actually slow and there is not enough liquidity. Another user notes that “there are so many bots that it's hard/slow to enter and get out of a trade” and describes it as a “terrible experience”. In another forum users claim the site is often down or that they cannot log into their account. One notes that if Bleutrade wants to remain in the cryptocurrency business, it should “step up its game”.

 

Trading platform

 

Like most cryptocurrency exchanges Bleutrade has its own web-based trading platform that has just the basic trading functionalities, without additional charting and analysis tools, usually associated with multiasset trading platforms like MetaTrader 4 (MT4).

 

It has a buy and sell fields, order book, market trade history and some basic price charts for the assets.

 

 

Methods of payment

 

As we have already said, Bleutrade works with cryptocurrencies only and does not accept any fiat currencies. There are no transaction fees for deposits and the transaction fees vary from coin to coin.

 

The exchanges who accept fiat currencies usually accept banking transfers, but some, quite conveniently, also process payments with debit/credit cards.

 

>> See crypto exchanges accepting cards <<

 

Conclusion

 

Bleutrade seems to have started with great intentions and fairly well, judging by the initial company posts from 2014 in popular bitcoin forums and the following user comments. Something along the way, though, has gone downhill and towards the end of 2017, when this review is written, the predominant mood among the exchange’s clients is that of dissatisfaction. Frankly, we agree with the user comment that Bleutrade should step up its game, if it wants to remain in the cut-throat business of the bitcoin exchanges.

 

The main advantages of Bleutrade is the anonymity and the large number of cryptocurrencies on offer, although one user has aptly described the small ones as “crap coins” and we think he has a point. They will surely not attract serious investors, but should keep the geeky customers happy.

 

 

Pros Cons
Multiple cryptocurrencies Does not accept fiat currencies
Anonymous Plagued by technical problems

 

Latest news about Bleutrade
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Traders` reviews for Bleutrade

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Slippage

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Requotes

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Price feed

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Platform

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Summary

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Thieves

Sent test amount of Bitcoin everything went smooth. Sent hundreds later to Bleutrade and got locked out of my account. Even set up 2FA. No response email or help from Bleutrade staff
Avoid like the plague.

Jeff Curtis 03/25/2019

Brazilian Federal Police dept is trying to track down Bleutrade

Bleutrade is a scam, Brazilian Federal Police dept are trying to track down this site,and know where are the transmission, I recommend you guys do the same, track them and discover where this scammers are from,dont set your money to this site,they are thieves, nothing more.

jonjon 09/18/2018

scammers

i had some coins on it, did not login for a while i'm surprised all my coins are gone, what does it mean if someone does not login for couple of weeks, it seems like they just take your coins, did not get any reply back from them after sending email

jam 02/10/2018

No support

I have tried to login and it will not accept my email address and password the username they ask for is not expected to be used anywhere except when they initially emailed me back when I opened account. When I put in to get a new password it says my email is wrong even though they verified it in a return email. Now that I am trying to find support there is none. I have tried emailing [email protected] but no answer.

stan Bostic 01/11/2018

they didnt give my own money!

seem like scam because since afternoon, they didnt send my btcs to my wallet.

ali 12/29/2017

BEWARE of Bleutrade!

BEWARE ! BEWARE
In my dealing with Bleutrade I found them to be almost impossible to get a response from and believe they are a total scam. Caught me for 450 dollars stating they sent btc to my trezor and it never happened. Verified it on the blockchain.

mike o shea 11/25/2017
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