Are you looking for an objective review of the popular exchange, BTCEX? Look no further! Our comprehensive analysis covers everything from trading fees to user experience, giving you the information you need to make an informed decision. Join us as we explore the pros and cons of BTCEX and compare it to other exchanges on the market.
BTCEX is a newer cryptocurrency exchange that was established in 2021 and is registered in Seychelles. The exchange has obtained key licenses in countries like Canada, Lithuania, and Estonia. Users on BTCEX can buy and sell over 180 cryptocurrencies such as BTC, ETH, MATIC, USDC, XRP, LTC, and SUI with over 200 trading pairs.
BTCEX exchange
BTCEX offers products and services such as spot trading and perps with up to 200X leverage. The exchange has an estimated user base of over 1,000,000 registered users and over 25,000 daily active users.
It is available to users from all countries besides restricted jurisdictions which include China and North Korea. The exchange is also available on Android and IOS where it has over 50,000 downloads with a 4.2 star rating.
BTCEX app
BTCEX Signup & KYC
To sign up for BTCEX, users need to provide an email address, select their country of residence, and create a password. After entering the email activation code, the account will be created.
BTCEX signup
BTCEX allows users to trade without going through the KYC process, although users who want to buy crypto with a card or increase their daily withdrawal limits will need to complete KYC procedures.
BTCEX KYC
Once all the information has been submitted for the KYC procedure, it could take up to 1-2 business days for BTCEX to verify the account.
BTCEX Products & Services
BTCEX is a cryptocurrency exchange that covers the basics with spot trading or swaps for over 180 cryptocurrencies. For those that wish to trade perps, they can do so on BTCEX with USDT as underlying collateral and over 200X leverage.
BTCEX spot & perps trading
Liquidity is also not bad on BTCEX with daily spot trading volumes frequently reaching $250-500 million. Copy trading is also available on BTCEX where beginners can simply copy the trades of the most successful traders on the platform.
BTCEX copy trading
The exchange has also introduced their very own launchpad where new projects can launch their tokens. The user experience on BTCEX is quite nice with a simple and modern to use interface.
BTCEX launchpad
The trading experience is mainly centered around spot trading with over 180 cryptocurrencies and perps with high leverage. KYC is not required which means that users can simply signup, deposit cryptocurrencies and begin trading right away.
BTCEX cryptocurrencies
BTCEX does not offer a lot of products but the few products it does offer, it does well. Overall, BTCEX is a decent option for those who are looking for a simple and user-friendly exchange with basic products and services.
BTCEX charges low spot trading fees of 0.1% for both makers and takers. For perpetual contracts, the trading fees are 0.02% for makers and 0.05% for takers.
BTCEX trading fees
These are competitive trading fees but unlike bigger exchanges like Binance and OKX, BTCEX does not currently offers discounts for high volume traders.
If you're looking to deposit fiat currency on BTCEX, unfortunately, that's not possible. Instead, users can deposit cryptocurrencies or buy USDT via card with third-party providers like Inst or directly via SEPA.
BTCEX buy crypto with card
It's important to note that fees for buying or selling cryptocurrencies via third-party providers can be much higher, ranging between 2-10% depending on the method used. So, it's recommended that you deposit cryptocurrencies directly into your account. BTCEX offers users the option to buy USDT with USD or EUR, and deposits are free of charge.
BTCEX Withdrawal Methods
Similar to fiat deposits, BTCEX does not support fiat currency withdrawals, meaning that users can only withdraw cryptocurrencies. The fees associated with withdrawing popular cryptocurrencies are as follows: Bitcoin has a fee of 0.0009 BTC, Ethereum has a fee of 0.008 ETH, Solana has a fee of 0.01, and ERC-20 USDT has a fee of 5 USDT. These are competitive withdrawal fees which means that BTCEX is not overcharging on crypto withdrawal fees.
In conclusion, BTCEX is a newer cryptocurrency exchange that has already gained a user base of over 1,000,000 registered users and over 25,000 daily active users. The exchange offers trading in around 200 cryptocurrencies, making it a decent option for traders looking for variety.
Users can trade without going through the KYC process and can buy and sell over 180 cryptocurrencies with over 200 trading pairs. The trading experience on BTCEX is centered around spot trading and perps with high leverage, and copy trading is also available for beginners.
Although the exchange does not offer many products, the few it does offer are done well. BTCEX charges low spot (0.1%) and futures fees, making it competitive with other exchanges like Binance and OKX.
Unfortunately, depositing fiat currency is not possible, but users can deposit cryptocurrencies or buy USDT with third-party providers or directly via SEPA. Withdrawals are also limited to cryptocurrencies with corresponding fees.
Overall, BTCEX is a good option for those looking for a simple and user-friendly exchange with basic products and services.
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Author
Jack Moreau
Jack is a crypto writer and reviewer who has been active in the space since he caught the crypto bug in 2017. With a passion for trying out new shiny things, Jack is always eager to try the latest cryptocurrency exchanges, wallets or DeFi applications.
