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RightBTC Review - is it scam or safe?

RightBTC Review - is rightbtc.com scam or good cryptocurrency exchange?

RATING: 1.2 / 5 REVIEWS ForexBrokerz RightBTC
RightBTC is not regulated. We cannot guarantee your money is safe.

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Trading Accounts & Conditions

 

Account type Min. Deposit Leverage Trading fee*
Standard 0.0001BTC /ETH 0.01 N/A 0.2%

 

*Withdrawal fees also apply.

 

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

 

RightBTC Advantages

 

Competitive Trading Fees

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

 

Decent amount of altcoins

Apart from Bitcoin, at the RightBTC exchange one can trade in ETH, ETC, LTC, BCC, ETP, DLT, ZGC, ZDC, STORJ, and others. Although the total number of instrument at some exchanges exceeds 200 or even 300, we reckon that RightBTC offers a decent amount of altcoins.

 

Nice and simple trading platform

The platform provided by RightBTC leaves an overall positive impression. It is not that impressive, but its seems like a perfectly functional trading place. Like most similar venues, charts are not advanced like the ones on the popular forex trading platform MetaTrader 4. Also, some users may miss live chat, as RightBTC’s platform doesn't have such. Here is a screenshot of the platform:

 

 

RightBTC Disadvantages

 

Fiat currencies not accepted

Fiat currencies are accepted at RightBTC, you can only deposit in cryptocurrencies, supported by the exchange. This, of course means, that you cannot use your bank account or credit card in order to start trading at RightBT.

 

>>See where can you buy Bitcoin with a credit card<<

 

Low trading volumes

As we played around on RightBTC’s platform a bit, we noticed that trading volumes on most pairs are rather poor. The situation with ETH/BTC seems ok, though. This is the most traded pair at RightBTC and currently it constitutes 99.99% of its overall trading volume (according to CoinMarketCap).

Withdrawal fees

RightBTC does not charge cryptocyrrency deposits, but imposes fees on transfers out of the exchange. It uses the following formula: Withdraw Fee = Base + (Withdraw Number × Rate).You can find the details in the screenshot below:

 

 

While this is not unusual for crypto-exchanges, it still leaves a bad impression. Besides, RightBTC has set some maximum daily withdrawal limits (15 BTC).

 

No Leverage available

As we have mentioned above, trading with leverage is not available at RightBTC. In case you are willing to speculate more aggressively with Bitcoin, a forex broker may present a decent alternative.

 

>>Margin Bitcoin trading with forex brokers <<

 

We must mention there is a serious difference between dealing with a crypto-exchange and a Forex broker. You will not actually be in possession of the given coin, but only make or loose money, based on its price movements. Read all about it here.

 

No wallets

Unlike other exchanges, however, RightBTC does provide wallets for its clients.

 

Conclusion

 

RightBTC has left us with mixed feelings. It is a crypto-to-crypto Dubai-based exchange whose offerings are nothing special in the crypto world: it has a relatively nice and simple platform with competitive trading fees, but also charges withdrawals. What bothers us most with RightBTC, apart from the low trading volumes on most assets, is that it does not provide any information on the company behind it.

 

After all, one’s security of funds is way more important than fees and the instruments available for trade. While most crypto-exchanges worldwide operate without any license, almost all share with the public who are the people behind it and provide some company background. So, RightBTC appears to be shadier than most exchanges, although it claims to keep clients’ coins in cold storage. Also, we couldn’t find reports of major hacks oft this exchange, which is always a good sign.

 

We remind you that you can always find a well-regulated and reliable forex broker, with whom to trade in cryptocurrency CFDs. Just make sure you understand the differences between trading with such brokers and on exchanges

 

>>Trade Bitcoin with a well-regulated forex broker<<

 

Here are the advantages and disadvantages of this exchange:

 

Pros Cons
Competitive trading fees No info about the company that owns the exchange
Relatively good trading platform Fiat currendcies not accepted
Decent anount of altcoins offered

Withdrawal fees apply

Deposits free of charge No wallet offere
  No Margin trading

 

Latest news about RightBTC
No news about RightBTC. Check back later.
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Traders` reviews for RightBTC

Spread

Pros

Cons

 

 

Slippage

Pros

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Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

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Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

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Summary

Pros

Cons

 

 

rbtc good customer service

I ask their chat support about their wallet and some issue and they answer me in a quick response so it is a good experience for me.

Moon_trader 09/02/2019

Very Neat and Simple

Well there some delays in the platform but I think this thing works for me anyway hope guys appreciate little trading platforms like this

XXX 08/29/2019

Worst Run Exchange Ive ever encountered

While RightBTC is not a scam (I have deposited and withdrew lots of $ on their exchange, I will say that they are without a doubt the worst exchange imaginable. I only joined bc I wanted some Metaverse ETP and RightBTC was the only exchange that seemed kinda legit (for American customers, couldnt use bitfinex).
A few of the glaring issues with RightBTC are as follows:
1. When I would deposit funds into my account, it would take them anywhere from a couple days to over a week to actually give me access to the funds.
2. When I would make a transaction lets say BTC to ETH, it could take multiple days (even when the transaction was confirmed) for my crypto to be accessible. This is because their system is NOT automated. Meaning, for every transaction, one of their reps has to go manually and confirm the trade and convert the funds.
3. Their exchange is so poorly thought through. For example, they have an option on their exchange to verify account identity (KYC) to gain access to deposit and withdrawal of fiat. However, upon getting verified (which took weeks and many emails with their staff that was not knowledgeable), I come to find out that they dont even have a place on their site to enter bank information! SO they tell you to get verified (send in photo IDS, bank statements, etc, and then when you do get verified, there is no actual option to even withdraw fiat from their exchange..... Whoever created this exchange may have been smoking too much pot
4. They do NOT keep a record of your trades/transactions/CVC. I was able to find SOME of my trades from the second half of the year, but not all. I was unable to find my entire trade history on their site, so i emailed their support team, and they literally told me that they do not have access to that data. SO If you live in any country that requires a record of every transaction for tax purposes (which the US does), you are basically screwed.
Please save yourself the hassle and do not use this exchange ever.

Ian 03/10/2019

RightBTC is rife with problems

I trasnferred 180k TRX from Binance to RightBTC to try their exchange out....I was horribly mistaken to try it...should have stayed with Binance.

RightBTC has horrible problems such as their search bars often are unresponsive so searching by typing doesnt work. When I transferred my TRX it showed up at first and I wanted to start trading but the numbers were off meaning...LiveCoinWatch showed TRX trading at 28 cents but on the website itself its trading at 650...even though last trading price on their own website says 759 around that 28 cent trading mark....horribly off causing coin market websites to show it as if Right BTC is trading much higher. Its Right BTCs fault distributing incorrect numbers to other sites.

Then as I wanted to transfer back to Binance it limited me to 500 TRX.....500 TRX!!! are you kidding me, Having no KYC on Binance limits you toi 2 BTC a day, currently around 6800$. RightBTC without KYC limits you to 10$ withdral limit what a freaking joke.

I increased the KYC stage 1 on RightBTC then they raised it to 25,000 TRX.

I compoleted Stage 2 KYC on Right BTC and then the website became screwy....first the lagging the constant lagging...then my TRX dissapeared completely. I go to balances and where i had around 180k TRX now shows 0TRX.

My profile says Stage 2 KYC completed but my account shows nothing.

Now my profile constantly shifts back to stating I need to complete stage 1 and 2 KYC to showing they are complete...the site has too many bugs.

Once my TRX shows up and getting off this exchange as fast as possible.

As a crypto trader anyone should know things like this will scare people away...this exchange will not last long if they cannot fix their problems.

devin demuth 02/16/2019

Scam Site

They have a stupid wash trading system to fake volume. That was so terrible that I could make in short time 10BTC. Overnight they lock my account and an pending withdraw was not executed. The support only answering like this:

Dear customer,

Thank you for reply. Due to system detected that your account existed abnormal transaction. In order to protect your account safety, your account login function was banned. Tech team need to check your account datas and transaction record. Please be patient. Once any update we will mail you. Sorry we cannot provide you an actual time or an estimate time.

Best regards,
RightBTC support team

After 3 or 4 tries the didn't answering my requests. So stay away from this scam site.

Kryptotrader 02/06/2019

Scam - Avoid it

I have been waiting for more than 7 days for withdrawing. Customer service do nothing, just always lies.

They do the same with other customers. It's a totally unreliable scam exchange, avoid it!!!

A13 12/03/2018

Scam

I deposited ETH to RightBTC and it is showing 0
They are thieves, mother ff
return my coins as*hole

Suzie 09/13/2018

Update company behind RightBTC

The company behind RightBTC is Veiwfin, the company that created Metaverse, China's first public blockchain: http://www.viewfin.com/

Anj 06/13/2018

Stay Away!!! Inaccurate listing of coins, unqualified support, poor management

Rightbtc requested Selfkey to be listed on their exchange on coinmarketcap, they don't trade Selfkey(KEY). They actually trade Bihukey (KEY). They don't list the full name of the coins they trade or contract addresses on the site, due to this poor process I sent, 5,700 which is not forfeited due to their clerical error and poor design. Not to mention it took them three weeks to figure out their mistake. Now I wait for a response from management for a response to the situation.

Charles William 05/06/2018

Scam

Deposited a coin to this exchange more than 2 days ago now and my account balance is showing 0. Stay away from this place at all costs!

jon jon 03/19/2018

I Tried It! It's a Perfect Exchange

Deposits: Fast
Trades: Super Fast
2-FA by email: less Google Authenticator in case you lose or damage your phone!

Withdrawals: you guys are only pissed off because of the word, "Frozen" (it may be a bad translation job since these folks HQ is located in Dubai).

Frozen only means "In Orders", "Being Processed", "Reserved".
And it takes a couple hours, sometimes half of a day. But you know how congested ETH and BTC can be sometimes!
RightBTC has some hard to get coin and no google Authenticator required. My perfect exchange in my opinion.
Can't believe some of you called it scam!

NT Tran

NT 03/09/2018

BTC a no show

https://blockchain.info/tx/8477700e60ae7763c08188ffae3b5eaa94b8a91173812b97987ac9058c29349e

seems everyone succeeded making a transfer to RightBTC but cant withdrawl....
i transfered BTC 2 weeks ago but didnt show up.....my deposit address is correct and everything seems to confirm on the blockchain....fairly new at this but havent had any trouble moving currency anywhere else.....anyone have any suggestions?

Kevin 02/25/2018

RightBTC is a scam site

RightBTC is a scam site everyone is saying same thing STAY AWAY from RightBTC they are a scam everyone needs to know

they have marked my withdraw transaction as successful and there is no transaction history in the wallet they said they sent xrb to

jon jon 02/05/2018

Scared me at first but NOT A scam exchange. They gave me everything back, just took 24 hours.

Saw the reviews so tried with little bits of BTC and ETP and everything went smooth. Sent larger amounts and had some delay but not much only a day or so and and other transactions like less then 24 hours. I had some transfers go through in like 6 hours or less. I think they are getting better at things. Took me going to the telegram and raising some hell but it worked, I got paid out instantly. In the end I have mixed feelings but they delivered and did it fairly fast so what can you complain about in the end. I profited on the arbitrage with ETP so I will prob use again for small amounts.

CryptogenesisCorp 01/23/2018

Not scam

they are not scam, they are in trouble, I had problems with the exchange but they gave me back my funds, they are slow should be starting in the market!

Enio 01/05/2018

This is a SCAM exchange

I'm a real guy. This is not a paid review or made by a competitor. I live in San Francisco and the rent prices are really freaking high, and the morning buns from tartine are incredible - so now we've established that I'm legit, let me tell you that this place is a pure SCAM exchange. I deposited 1.14LTC there and I can't get it out. Withdrawals are frozen indefinitely. It's already been 2 days. RightBTC is a SCAM! Do NOT deposit money there!

Ben G 01/04/2018

Scam!!!!

They will freeze your deposits so you can not transfer out. There is no customer service. They artificially post prices that are much higher or lower than Bittrex, Bitfinex or Binance so people transfer their funds/coins there to take advantage and arbitrage. Then they will freeze your withdrawal. no customer service. IT IS A SCAM!!!!!

JamJam 01/03/2018

RightBTC freezes withdrawls

Terrible communication, withdrawals are frozen. Not acceptable for an crypto-exchange or any financial service. Don't use it.

Joris 12/28/2017
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