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Crypto Bridge Review - is it scam or safe?

Crypto Bridge Review - Is crypto-bridge.org scam or safe cryptocurrency exchange?

RATING: 2.8 / 8 REVIEWS Crypto Bridge

RECOMMENDED BITCOIN BROKERS


Trading Accounts & Conditions

 

Account type Leverage Maker Fee Taker Fee Deposit Fee
Standard 1:1 0.20% 0.20% Crypto only: Free

 

Crypto Bridge is a decentralized exchange running on top of the BitShares Network. This automatically means they are not that suitable for beginners in the world of crypto. The project is still very new at this point, being launched in the summer of 2017. Keep in mind we take an active trader’s perspective when making our review.


Crypto Bridge Advantages



Decentralized exchange – the very nature of this exchange is its main strong side. As you may know, when dealing with a centralized exchange, the risks of hacking and dishonesty form the owners of the exchange are always real. While we shall not get into the technical details, for the purposes of this review, we will just say this is a much safer approach.

 

Zero deposit fees – this may seem obvious for a crypto-only exchange (with no fiat currencies), but even some of them charge clients on deposits. The blockchain transaction will still most likely have a mining fee involved, depending on your coin of choice.


Competitive trading costs – the 0.20% trading fee, which is applied to both market makers and takers is similar to the rates charged on some of the popular centralized exchanges. Market makers (read liquidity providers), who also “stake” at the exchange will get additional benefits.


Staking scheme – Crypto Bridge was launched after a fundraising token offering (which they don’t call an ICO, despite the similarities). Holders of the BCO token can trade it at the exchange or stake it, in order to get a portion of the exchange’s revenue. We don’t have an opinion on the viability of this as an investment and would recommend doing additional research before participating.


Well-designed platform – the trading interface, provided by Crypto Bridge is similar to more traditional trading software. A huge emphasis is placed on the charts, while the rest of the items are aligned in a logical manner. The platform also has a standalone desktop client for Windows, MAC and Linux. Here is a preview:



A plethora of altcoins
  – over 80 trading pairs are available at Crypto Bridge. The most popular coins are Bitcoin, Litecoin and Verge. On the other hand, the trading volumes on some of the less known altcoins are higher.


Crypto Bridge Disadvantages


Some knowledge required – Crypto Bridge will not be suitable for you, if you aren’t at least somewhat familiar with cryptocurrencies. Operating at this exchange requires the creation of a new wallet, whose private keys you control and must protect. It’s nice they remind you that, when you first create an account:



No fiat currency trading – this shouldn’t come as surprise to the more experienced crypto enthusiast among you, but we must mention it nonetheless. If you are just looking to get into Bitcoin or another coin, check the link below for places where you can buy crypto with a bank transfer:


>>Exchanges accepting bank transfers<<


Dependent on BitShares
– if something were to happen with the BitShares network, Crypto Bridge would also be down. This goes for all projects, which rely on other nlockchins, like the plethora of things written in the Ethereum environment.


Mixed user reviews – while not that many the Crypto Bridge reviews are mixed. Some traders claim it’s decent. The reason we are posting this in the negatives se4ction is because the complaints regarded reliability, the most important thing in a decentralized exchange.


No margin provided
– if you are looking to trade Bitcoin with leverage, you should look elsewhere. For instance, some forex brokers have started offering cryptocurrency trading.



>>Trade Bitcoin with leverage<<




This service is facilitate with the so called CFDs, or Contracts for Difference. This means you will not actually be buying and selling the coin in question, but a derivative asset based on it. There are pros and cons to this style of trading, which you can find here.



Conclusion



Crypto Bridge is a decentralized exchange, build on the BitShares protocol. It offers fees in-line with the industry and a lot of alternative coins. While at this point in time the trading volumes may be an issue for bigger traders, this should change if the project develops according to plan. Sadly, at the time of writing some negative user comments suggest this may not be the case.


Crypto Bridge may be safer than a lot of other trading venues in the world of crypto, but some of the risks involved with this relatively new technology are still present. In case you are looking for a safe way to trade Bitcoin, or even think the entire cryptomania is a big bubble and want to short it, going with a forex broker will be better choice. Check the link below to learn more about the benefits of trading with a well-regulated one.


>>Regulated Bitcoin forex brokers<<


To summarize Crypto Bridge

Pros
Cons
Decentralized exchange Some knowledge required
Zero deposit fees No fiat currency trading
Competitive trading costs Dependent on BitShares
Staking scheme Mixed user reviews
Well-designed platform No margin provided
A plethora of altcoins  

 

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Traders` reviews for Crypto Bridge

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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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High fees

this exchange is all SCAM. They take tens of percents for a withdrawals fees. This site wanted to take 80% of my balance for my test withdrawal of TZC coin.

FF500 07/19/2019

Too high fees

Do not trade on CB. Fees are far too high. I'm not talking about trading fees, they are just high. Withdraw fees are five level too high. If you have 100 RVN, they want 3.819 RVN FEE + extra 5 RVN Gateway FEE. This is 8,819% FEE just for withdraw!
JUST GO AWAY FROM CRYPTOBRIDGE - they're greedy !!!

Robert 07/11/2019

Dissappeared

Did 2 transfers today, first was 5000 blcr, it never went through and then I tried again with 1 blcr and that went through no problem in a couple of seconds.

Bullshit scam

Andy 06/13/2019

Crypto bridge is a scam

Why is it that I have bitcoin on my wallet but I can't withdraw them, your saying that your going to give me a memo key which your not sending me to withdraw my btc. Please I need my bitcoins

Denis 12/17/2018

Be careful with them

Be careful a moth ago tried to withdraw my btc and still haven't received them
and support is just useless

jinks99 08/28/2018

bugs in the system

I've used this platform about a dozen times to buy or sell coins that aren't available anywhere else. I'm grateful for the market in those thinly traded coins. On the other hand the platform seemingly needs work. I keep having to log in over and over again. The nodes keep dropping out and too many times it's not possible to even establish a connection. It also takes a worryingly long time for deposits to show. On the other hand the buy / sell queue is nice as it gives a fairly good idea how the market feels. I'd give them about 2.5 stars out of 5.

DB 07/24/2018

Crypto Bridge-scam

The last 3 conclusions did not come - it's about 0.14 BTC, with 2 outputs in BTC, and one in LTC. Wrote in support and in the discort, it's been a week .... I feel that the exchange-scam

ntkvlr 07/22/2018

CryptoBridge is not decentralized

When your withdraw is not succesful they are in control of you money or crypto. I have made a withdrawal and it was posted on their blockchain. But never recieved my bitcoins. So I emailed the support and tried to get help in discord channel. The mods answered one question and no response from support email. It’s been for days and I know the developer had been online because he’s updating announcement in discord and from dialogue in discord channel the mods are in contact with the dev. It states in support ticket that they will contact back in 24-48 hours been 4 days. And nothing the mods wouldn’t even answer my question. I did exactly what was asked the only thing I didn’t provide was the transaction I’d from bitcoin because there was no transaction. All the mods said was the transaction needed to be reposted or something to that. Never said on my end or what because I have zero balance on my end. They stop answering my question from than on. It’s about almost .6 bitcoins. It might not be a lot to some people but I’m just posting to put awareness out there that it is not decentralized, they in fact have control on whether you get you withdrawal or not. I can provide the block number and you can check the withdrawal address that’s posted on their blockchain.

Nguyen Nguyen 05/21/2018
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