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BTCTrade.im Review - is it scam or safe?

BTCTrade.im Review - is btctrade.im scam or good cryptocurrency exchange?

RATING: 2.7 / 0 REVIEWS

RECOMMENDED BITCOIN BROKERS


 Trading Accounts & Conditions

 

Account type

Leverage

Trading fee

Withdrawal fee

Standard

N/A

0.20%

0.001BTC

 

BTCTrade.im is a coin-to-coin exchange where users can trade Bitcoin, Ethereum, Litecoin, Ripple and other digital assets. As is usually the case with most exchanges, BTCTrade.im offers a single account type with no option for margin trading and charges some fees for its services.

 

It appears that BTCTrade.im is a Chinese exchange, but its website is also available in English language.

 

BTCTrade.im Advantages

 

Competitive Fees

Trading fees on BTCTrade.im are flat, amounting to 0.2%, irregardless of the asset you trade, and whether you are a market “taker” or “maker” . Such pricing is in-line with the offers of other cryptocurrency exchanges.

 

Besides, BTCTrade.im does not charge cryptocyrrency deposits, and the fees it applies on transfers out of the exchange are not high.

 

Many altcoins supported

Apart from Bitcoin, at the BTCTrade.im exchange one can trade in ETH, ETC, LTC, DOGE, BCH, EOS, and many others, including some tokens we haven’t heard of. Currently, the most heavily traded pairs at the exchange are BTC/ETH and DOGE/BTC.

 

We noticed this exchange has a separate section on its platform for coins traded against Ultimate Secure Cash (USC) - a Proof of Stake cryptocurrency using the same algorithm as Bitcoin, SHA256.

 

Advanced trading interface available, mobile apps

The platform provided by BTCTrade.im has two interfaces: a simple one, similar to those of other exchanges, as well as an advanced one. The simple platform is equipped with the most basic features and tools, such as an order book, trading history, and charts. 

 

If you click on the Chart icon at the top right, the other interface appears with dark design and some advanced technical indicators:

 

 

Besides, mobile apps are also availabe for investors preferring to trade on the go.


BTCTrade.im Disadvantages

 

No info about company, storage of funds

The website of BTCTrade.im does not even mention the name of the company that owns it, nor its headquarters. We suppose this has something to do with the recent ban on ICOs in China, as a result of which most exchanges shut down local operations and/or registered elsewhere.

 

Actually, the .im web address is a domain registered in the Isle of Man.

 

Another important information we did not find in the English version of BTCTrade.im is whether it keeps clients’ coins offline, in cold storage.

 

Fiat currencies not accepted

Fiat currencies are not accepted at BTCTrade.im, which is probably related to the situation in China, mentioned above. So, you can only deposit in coins, supported by the exchange. Accordingly, you cannot use your bank account or credit card in order to buy some tokens at this exchange.

 

>>Wanna buy Bitcoin with a credit card?<<

 

 

Low liquidity on some pairs

Not surprisingly, trading volumes on some pairs traded at this exchange, appear low, which means that liquidity is insufficient.

 

 

No margin trading

As we have mentioned in the beginning, margin trading is not available at BTCTrade.im. If you need some lebverage to trade more aggressively with Bitcoin, you may be better of with a forex broker.

 

 >>Bitcoin leveraged trading with a forex broker <<

 

We must mention two things here: first, trading on margin increases the risk of losses; second, there is a difference between dealing with a crypto-exchange and a forex brokerage. So, make sure you are aware of these before you dive into into it.

 

Conclusion

 

BTCTrade.im provides professional digital money trading services for people around the world. Although it does not provide any information about the company that owns it and its whereabouts, we assume it is based in China. We also suppose initially the exchange operated via the www.btctrade.com website, but after the ICO ban in china moved to its current domain.

 

Currently, BTCTrade.im is in the top 100 by trading volume according to CoinMarketCap and its offerings appear quite attractive: competitive fees, advanced trading platform, a lot of altcoins supported.

 

We remind you that you can always find a well-regulated and reliable forex broker, with whom to trade in Bitcoin and other popular coins.

 

>>Trade Bitcoin with a trusted forex broker<<

 

 

Here are, once again, the strong and weak sides of this exchange:

 

Pros

Cons

Competitive fees

No info about company, storage of funds

Advanced trading interface, mobile apps

Fiat currencies not accepted

Deposits free of charge

No leverage available

Many altcoins offered

Low liquidity on some pairs

 

 

 

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Spread

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Slippage

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Requotes

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Price feed

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Platform

Pros

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Deposit/Withdraw

Pros

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Customer service

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Summary

Pros

Cons

 

 

Traders` reviews for BTCTrade.im

Forex
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