WARNING AND DISCLAIMER: BTCEX is shutting down its services on the 5th of July! Do not register on BTCEX! If you are looking for a reliable crypto exchange, we recommend you look into MEXC, Bybit, or Binance.
If you are looking for a comprehensive review of BTCEX, one of the largest cryptocurrency exchanges in the world, look no further. You have come to the right place. We are a team of dedicated crypto enthusiasts with real, raw trading experience. Our comprehensive guide and analysis will cover everything you need to know about BTCEX, from trading fees to withdrawal fees, user experience, customer support, and more. At the end of this BTCEX review, there will be no answer unsolved.
BTCEX Quick Overview
BTCEX is a relatively new cryptocurrency exchange and was launched in 2021 with its headquarters in the Seychelles. The trading platform operates in over 120 countries and is licensed in many areas such as Canada, Lithuania, and Estonia. Traders can buy and sell over 250 different coins and over 350 different trading pairs such as BTC, ETH, SOL, ADA, and DOGE. As of 2023, BTCEX accounts for over $10 billion in daily trading volume, ranking it as the number 2 exchange worldwide. According to BTCEX, the platform has now reached over 3 million users on the platform.
BTCEX offers everything a crypto trader could desire. Starting with simple spot and perpetual futures trading, all the way to copy trading for passive income, BTCEX has you covered. Margin traders can accelerate their gains with a leverage of up to 200x on major cryptocurrencies such as BTC and ETH.
If you don’t own any cryptos yet, you can simply purchase them via credit card, bank transfer, or third-party providers supporting ACH. In order to be allowed to purchase cryptos directly from BTCEX, you first must verify your identity and finalize the KYC process.
Additionally, BTCX has designed a user-friendly interface while not compensating on advanced tools. On BTCEX, new and professional traders will find everything they look for in a crypto exchange.
Overall, BTCEX offers a comprehensive, yet simple way to trade cryptocurrencies and is one of the largest and most trusted exchanges out there.
WARNING AND DISCLAIMER: BTCEX is shutting down its services on the 5th of July! Do not register on BTCEX! If you are looking for a reliable crypto exchange, we recommend you look into MEXC, Bybit, or Binance.
Pros and Cons of BTCEX
Pros of BTCEX
- Low trading fees
- Dedicated spot and futures market
- Copy trading
- Widely licensed
- Second highest trading volume
- Flawless design
Cons of BTCEX
- Lacks FIAT support (only USD and EUR)
- No FIAT withdrawals (only crypto)
- Lack of earn products
Spot Trading
On the spot market of BTCEX, traders can choose between 251 different cryptos and 332 trading pairs. The spot trading interface is simple and easy to navigate for beginners without having to dig through tons of unnecessary information.
When testing the response time, we did not encounter any lags or network issues. The trading fees on the spot market are 0.1% for makers and takers. If you are interested in more advanced information, you can observe the Orderbook of BTCEX on the left side and the recent transactions on the right side.
WARNING AND DISCLAIMER: BTCEX is shutting down its services on the 5th of July! Do not register on BTCEX! If you are looking for a reliable crypto exchange, we recommend you look into MEXC, Bybit, or Binance.
Perpetual Futures Trading
As a dedicated crypto trading exchange, BTCEX did everything to design a perfect derivatives trading interface. For scalp and high-frequency traders, BTCEX supports leverage of up to 200x so you can accelerate your gains.
The maximum position size when using 200x leverage is $1,000,000.
You can select between 125 different trading pairs on the futures market. While this is not the largest selection of coins, BTCEX wants to ensure that only legitimate projects are listed on the platform to keep its customers safe. Of course, BTCEX supports all major cryptos on the futures market, such as BTC, ETH, and XRP.
The futures fees of 0.02% maker and 0.05% taker are very cheap compared to the industry standard.
BTCEX made sure that the design is well thought through with a minimalistic, yet effective. The response time was perfect throughout all of our tests and we had no network issues, lags, or bugs, making BTCEX a reliable platform for day traders.
Low Trading Fees
The spot trading fees on BTCEX start at 0.1% for makers and takers. This is the industry standard and most major exchanges support this structure.
Having a look at the perpetual futures trading fees, you get to enjoy some of the lowest trading fees in the crypto market. With 0.02% maker and 0.05% taker fees, BTCEX offers an affordable option for traders.
Unfortunately, there are no tiered fee levels where you can reduce your trading fees based on your 30-day trading volume.
WARNING AND DISCLAIMER: BTCEX is shutting down its services on the 5th of July! Do not register on BTCEX! If you are looking for a reliable crypto exchange, we recommend you look into MEXC, Bybit, or Binance.
Volume, Spread, and Liquidity
While BTCEX is fairly unknown in many Western countries, the platform is a giant in Asia. This reflects not only in the high daily futures trading volume of over $11 billion, or the open interest of $9 billion but also in the incredible liquidity. When looking at the order book, we noticed that even orders worth millions of dollars will have a hard time manipulating the price due to the thick order book.
The spread on the BTCEX futures market is $0.5 which is slightly higher than the industry standard of $0.1.
Copy Trading
If you are looking for ways to make passive income, then the BTCEX copy trading feature might be for you. You can analyze the performance of lead traders and copy them with just a few clicks. In the copy trading dashboard, you can see all the important information such as win rate, ROI, total PNL, drawdown graph, and more. We highly recommend thoroughly doing the research before copying traders. Choosing the right trader to copy will take some time, but in the end, it will be worth it.
WARNING AND DISCLAIMER: BTCEX is shutting down its services on the 5th of July! Do not register on BTCEX! If you are looking for a reliable crypto exchange, we recommend you look into MEXC, Bybit, or Binance.
BTCEX Deposit And Withdrawals
Crypto Deposits and Withdrawals
BTCEX does not charge anything for crypto deposits, meaning you can send your cryptocurrencies from your wallet to BTCEX free of charge. If you want to withdraw cryptos, the fees vary based on the coin and the network that you choose. One of the cheapest coins to send is USDT via the TRC20 network. Based on the network workload, the fees are between $0.5 to $1, no matter how much you try to send.
FIAT Deposits and Withdrawals
One thing that BTCEX is lacking is FIAT support. As of 2023, you can only purchase cryptos directly from BTCEX with cards or bank transfers using USD and EUR.
Only for ACH payments, BTCEX supports more currencies, including EUR, USD, AED, AUD, CAD, GBP, and more. So if you are not from Europe or the US, you must purchase cryptos on BTCEX through Alchemy Pay.
As of 2023, BTCEX does not support FIAT withdrawals, only crypto withdrawals.
The fees vary for each payment method and currency, so we highly recommend checking the respective fees you will have to pay before making any purchase. When testing EUR and USD onramp methods on BTCEX, we figured out that the cheapest option is bank transfers.
WARNING AND DISCLAIMER: BTCEX is shutting down its services on the 5th of July! Do not register on BTCEX! If you are looking for a reliable crypto exchange, we recommend you look into MEXC, Bybit, or Binance.
Mobile App
If you are looking to trade from the get-go, then BTCEX is a great option for you with its dedicated crypto trading app. The BTCEX mobile application is available for iOS and Android devices. The app is kept very simple and straightforward doing exactly what a good crypto exchange app should do. You can easily buy and sell cryptos and even trade on the futures market with leverage. In terms of reliability, just like the web version, BTCEX has carefully crafted a flawless app without any interruptions ensuring a flawless trading experience – even on your phone.
Customer Support
When testing the BTCEX customer support we had a great experience. The platform offers 24/7 live chat support in the bottom right corner. The support staff reacted quickly to our support request and resolved the query quickly.
BTCEX Warning
There are countless scams in the crypto space. One of the most prominent scams are fraudulent fake websites that mimic legitimate exchanges. There have been cases reported where traders registered or logged in on fake BTCEX websites that have slightly different domain names. Putting your data in such a website will result in your data being stolen.
Always make sure that the URL is btcex.com, which is their only domain name.
WARNING AND DISCLAIMER: BTCEX is shutting down its services on the 5th of July! Do not register on BTCEX! If you are looking for a reliable crypto exchange, we recommend you look into MEXC, Bybit, or Binance.
Conclusion
In conclusion, BTCEX is a relatively new, yet highly effective cryptocurrency exchange that has quickly gained massive popularity and is already raking in billions of dollars in daily trading volume. With over 3 million users in 180 countries, BTCEX is a top choice for many crypto day traders from all around the world. Furthermore, BTCEX does a great job of expanding into new areas and securing the required licenses.
With over 350 different trading pairs, you will find all major cryptocurrencies and you get to enjoy some of the lowest fees in the crypto space. If you are looking for a leverage trading platform, look no further than BTCEX. With a perfectly designed interface, instant order execution, high leverage of 200x, and high liquidity, BTCEX is the perfect choice for trading cryptos If you are looking for a powerful, high-performance crypto trading platform, BTCEX got everything you need.
One key criticism that we have for BTCEX is the lack of products aside from their trading platform. BTCEX seems to focus on delivering the best trading platform and they surely succeed with it. If you are looking for a crypto exchange with diverse earn products such as staking and saving accounts, BTCEX is not for you.
WARNING AND DISCLAIMER: BTCEX is shutting down its services on the 5th of July! Do not register on BTCEX! If you are looking for a reliable crypto exchange, we recommend you look into MEXC, Bybit, or Binance.
FAQ
Is BTCEX safe and legit?
BTCEX was a safe and legit crypto platform being licensed in many countries, however, the platform is shutting down its services. The customer funds are safe according to BTCEX.
What are the trading fees on BTCEX?
The spot fees are 0.1% for makers and takers. The futures fees are 0.02% maker and 0.05% taker.
