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BTC-exchange Review - is it scam or safe?

BTC-exchange Review - is btc-exchange.com scam or good cryptocurrency exchange?

RATING: 1.5 / 2 REVIEWS ForexBrokerz BTC-exchange
BTC-exchange is not regulated. We cannot guarantee your money is safe.

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Trading Accounts and Conditions

 

Account type Leverage Trading fee Deposit/withdrawal fee*
Standard 1:1 0% 1% (Min. 0.0025 BTC)

 

*BTC-exchange does not charge FIAT transfers, however MisterTango and banks involved in the process probably will.

 

BTC-exchange is a a BTC/EUR trading platform, accessible via e-payment service provider MisterTango.

 

In order to start trading, you have to register an account with MisterTango (which is free), download one of its mobile apps, and undergo ID verification.

 

 

BTC-exchange Advantages

 

No trading fees

The main advantage of BTC-exchange is that it has zero trading fees. Most exchanges charge something in the range of 0.15% - 0.25% per trade, however BTC-exchange compensates that with deposit and withdrawal fees. More details on transfer fees are available in the Disadvantages section below.

 

Fiat supported

As we mentioned in the beginning, BTC-exchange works with Euro, so its users can buy Bitcoin directly with cash, or cash out their BTC. Of course, these transfers come with a price.

 

Deposits via bank transfer and cards

Thanks to BTC-exchange’s partnership with MisterTango, its users are able to transfer traditional money to and from their bank accounts or via MasterCard, which is a significant convenience.

 

 

BTC-exchange Disadvantages

 

Only one trading pair

BTC-exchange is a Bitcoin marketplace where you can only buy BTC with EUR, or vice versa. This is a very limited offering. Other entry-level crypto services have listed more coins and (or) work with several fiat currencies. By comparison, Bitstamp allows trading Bitcoin, Ethereum, Litecoin and Ripple against EUR and USD.

 

BTC deposit/withdrawal fees are too high

Bitcoin deposits to and withdrawals from BTC-exchange are charged with 1%, (at least 0.0025 BTC) which is a way higher than the average transfer fees in the sector. For example, UK-based CoinMate charges only coin withdrawals, and the fees are quite low (0.0003 BTC).

 

As regards fiat transfers, BTC-exchange claims that they are free of charge, but keep in mind that its partner MisterTango has some fees (https://d168plm0n1qvjk.cloudfront.net/en/wp-content/uploads/price_list.pdf). For example:

 

- Card fees: withdrawal once per month up to 200 EUR – free. Other withdrawals – 2 % from the amount, not less 3 EUR;

- SEPA deposit fee - 0.00 EUR. for EU customers; 5.00 EUR for non-EU customers;

- Bank transfers to other EU banks in Euros (SEPA) for not European Union residents: 5.00 EUR.

 

BTC deposit and withdrawals not instant

Another weak side of BTC-exchange is that BTC transfers need staff confirmation and there is no 24- hour customer support. BTC-exchange’s customer support works 8:60-17:30 (GMT +2) Monday to Friday.

 

No margin trading

You cannot trade on margin at BTC-exchange, which is not unusual for the sector, and especially for entry-level crypto services. Nonetheless, those of you who want to to gear up their trading, can do so with forex brokers. Some of them offer trading in Bitcoin and other altcoins (in the form of CFDs).

 

 

>> Brokers offering leveraged Bitcoin trading <<

 

 

No info about the company, storage of client funds

We could not find any information on the website of BTC-exchange regarding the company that operates the exchange. It is obviously based somewhere in Europe. Furthermore, we could not find any information on whether BTC-exchange keeps customers' funds in cold storage, which is essential for the exchange’s security.

 

 

Conclusion

 

BTC-exchange is a European entry-level crypto service. The platform basically allows its users to buy Bitcoin with EUR via convenient pauyment methods such as bank transfer and cards. The service is enabled by MisterTango – an e-money provider licensed in Lithuania.

 

While BTC-exchange boasts on having zero trading fees, it has pretty salty fees for BTC deposits and withdrawals. Furthermore, BTC transfers may take a lot time, as they need confirmation by the exchange’s support that is not 24/7. Another thing that bothers us with regards to BTC-exchange is that it provides no information about the company that owns it, its headquarters, etc. Nonetheless, this company also operates Bitmarket.lt, Bitmarket.lv, and Bitmarket.ee domains.

 

If you would rather work with a reliable and regulated entity, we remind you of the option to trade cryptocurrencies in a easier and safer way with licensed forex brokers.

 

 

>> Regulated forex brokers offering Bitcoin trading<<

 

 

Pros

Cons

Zero trading fees

Only one trading pair

Fiat currency support

BTC transfers expensive and not instant fees

Convenient payment options

No info about the company, storage of funds

 

No margin trading

 

Latest news about BTC-exchange
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Traders` reviews for BTC-exchange

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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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Deposit/Withdraw

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Customer service

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Summary

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BTC-exchange experience

Hi. I had a bad experience with this exchange. Someone asked to write to Telegramm channel first to make exchange for good rate. I wrote there http://t.me/photobtc_bot and see no my usd yet. No usd, no btc. Don't made the same mistake.

Teresa 05/15/2019
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