BTCEX review 2023 - About BTCEX | BTCEX South Africa

What is BTCEX?

BTCEX is a full-fledged trading platform with several options for trading digital assets conveniently. Although it is a relatively new crypto exchange, only a few years old, the platform includes hundreds of digital assets, which allows traders the chance to explore a variety of industries and markets.

Registered in Ontario, Canada, BTCEX complies with the laws and regulations of countless countries so traders from all over the world can join.

Main Location: Ontario, Canada
Cryptocurrencies: BTC, ETH, DAR, SOL, XRP, SAND, AXS, and 70+ more
Fiat Currencies: None - cryptocurrencies only

Deposit Methods: Cryptocurrency only
Deposit Fees: Free
Trading Fees: 0.1%
Mobile App: Yes

Key Features Advantages of BTCEX

If you are looking for a cryptocurrency exchange with tons of trading options and diversity in markets, BTCEX is a great option. Even the variety of assets is massive, with several hundred trading pairs on the platform. As a cherry on top, the professional trading platform has numerous options for customizing charts.

I have compiled many of these aspects of BTCEX, as well as other key features, below:

Great variety of 70+ cryptocurrencies
Beginner-friendly platform
Trade with up to 10x leverage
Android and iOS apps
Easy sign-up process
Several trading markets
Copy trading for amateurs
Premium rewards and bonuses
50% commission for referrals
Great account security and safety

Negatives Disadvantages of BTCEX

There are a lot of things to love about BTCEX, but there are some critical disadvantages that can negatively affect your experience.

No quick buying and selling of cryptocurrencies
Only crypto deposits and withdrawals are available
Not the best customer service and guiding content

What Services does BTCEX Offer?

Many traders choose BTCEX so they don’t have to compromise on the availability of assets and trading pairs and so they can diversify their positions by opening trades in different markets. BTCEX has many additional advantages, which I discuss below in more detail.

Great variety of 70+ cryptocurrencies: BTCEX has a great variety of cryptocurrencies available for trade. There are about 80 crypto assets available in the spot market, including almost all of the popular cryptocurrencies, which makes it easy for traders to keep up with and evaluate market conditions. The following cryptocurrencies are just a few that you can trade: BTC, ETH, SOL, SHIB, XRP, MANA, SAND, GALA.

Of course, you can try your luck with other cryptocurrencies too. Just make sure to evaluate the market conditions and consider all the essentials before investing your money in order to get better returns.

Beginner-friendly platform: Instead of bogging you down with complicated options and unfamiliar words describing what is available on the exchange, BTCEX provides what is unquestionably one of the most beginner-friendly platforms.

Every option you could want is listed at the top bar of their website. Each available market is identified separately for easier access. To your account details or deposit or withdraw funds, click on the top right.

Trade with up to 10x leverage: We all know it can be difficult to earn quick profits when trading in a market without leverage. Leverage is what increases your potential to earn more and explore opportunities that could bring you better results. With BTCEX, you can increase your earning potential up to ten times. This might be a little low for many professional traders, but beginners should remember that the higher the leverage, the greater the risk of losing money.

One limit to leverage trading at BTCEX is that only two assets are compatible with their leverage trading: BTC and ETH. It is possible the platform adds more assets in the future, but that’s how it stands now.

Android and iOS apps: Cryptocurrency markets are vulnerable and volatile. They can change in hours or even minutes. For traders who never want to miss an opportunity to explore their options and open a position, mobile access to your exchange account is vital.

BTCEX has developed specialized mobile applications that support full-fledged trading. Users can access all the trading markets and options that are available on the website. Their app is available for both Android and iOS devices via the app store. If you are facing any problems while installing the application on your Android device, you can also separately download the APK file from the platform directly and install it right away.

Easy signup process: The signup process at BTCEX is so fast that you can enter the exchange in less than a minute. You can enter your information manually or connect your Google account. Every feature is available after you verify your email address.

Several trading markets: BTCEX is a popular choice because it features several trading options. There are several trading markets and hundreds of trading pairs. The most basic of these is spot trading. With spot trading, there are more than 50 pairs to explore and open positions with.

If you want to increase your earning potential, you can opt for margin trading and have leverage over what you trade, which I discussed in an earlier section. Additionally, traders have access to the perpetual market, futures and options. The availability of assets within these markets is considerably lower than in the spot market, but you still have ample options.

Copy trading for amateurs: If you are an amateur trader without the proper knowledge to trade efficiently, then copy trading could be a blessing to you. Like its name suggests, copy trading allows traders to copy other traders and make money through them. With this option, you literally don’t have to do anything as everything is done by the trader you are following.

BTCEX features quite a few copy traders to follow. Before choosing a trader, you can check out their success rate and the number of other traders who follow them. To use this feature, you have to share a few of your profits, but the trade-off can be worth it for new traders.

Premium rewards and bonuses: There are several ways BTCEX rewards their users. One of the easiest is through promotions where you are rewarded for depositing assets into your BTCEX account. You can also receive free crypto by reaching benchmarks for accumulated trading days and volumes. BTCEX introduces these types of offers quite often, so users should keep up with the rewards center to see what promotions are going on.

50% commission for referrals: If you are looking for another way to earn free money with BTCEX, check out their referral program, which has fantastic rewards. You can earn up to a 50% commission of the trading fee paid by traders you bring to the platform.

Great account security and safety: There are multiple layers of security that you can implement on your BTCEX account. The first, and most reliable, is two-factor authentication. You can enable it by accessing your account details. If you want even more security, you can create an anti-phishing code that prevents you from entering your details on fake sites that are designed to look exactly like BTCEX.

Things I Dont Like About BTCEX

There are a few things about BTCEX that either create problems for users on the platform or simply compromise the overall experience.

No quick buying and selling of cryptocurrencies: BTCEX does not have any option for investors to buy or sell cryptocurrencies on the platform quickly. This is what makes BTCEX an unreliable option for users who are specifically looking to invest their money and hold different cryptocurrencies. Yes, you can obtain assets through trading, but the simpler processes of purchasing and selling are not available on the platform.

Only crypto deposits and withdrawals are available: A good crypto exchange platform will offer users a variety of options for depositing and withdrawing money. Crypto exchanges have no excuse for limited options in this era where there are countless payment options, including bank accounts, e-wallets, and even credit and debit cards. However, BTCEX does not support fiat currencies; it only allows its users to make deposits and withdrawals through crypto wallets.

Not the best customer service and guiding content: Lastly, BTCEX’s customer support is not what customers would expect from a crypto exchange in this advanced era of the blockchain industry. To contact the support team, you must leave a message through a form message box, and they get back to you when they can.

The website also features no informational articles, guides, how-tos or news content to help users learn about trading and the latest market conditions.

BTCEX Fees

BTCEX Deposit Fees

The only way to deposit funds into your BTCEX account is via cryptocurrency, which is free.

BTCEX Trading Fee

The trading fee at BTCEX is divided into several parts due to the wide range of trading options available on the platform. The table below lays out the precise trading fees of all the available markets.

For options trading, it costs about 20 USDT per BTC and 1.5 USDT per ETH.

BTCEX Fiat Withdrawal Fees

Fiat withdrawals are not supported on BTCEX.

BTCEX Crypto Withdrawal Fees

The crypto withdrawal fee at BTCEX is not fixed and can fluctuate depending on market conditions. You can visit the fee page of BTCEX to determine the average withdrawal fee for each of the assets you might want to withdraw from the platform.

Pros and Cons of BTCEX

Pros

70+ different cryptocurrencies available
Several trading markets
Copy trading is available
Professional mobile apps
Beginner-friendly platform

Cons

Only crypto deposits and withdrawals; no fiat currencies supported
Not the best customer support

Summary

BTCEX has managed to fulfill almost all the demands of traders with their integration of multiple trading markets and hundreds of pairs. The platform is definitely a great choice for any trader looking to explore countless trading opportunities in a single place. The thing that makes BTCEX enticing for amateurs is their option to copy experienced traders.

Another great thing for beginners is that the platform is very user friendly with an easy layout. You can earn a few extra bucks, too, by referring the platform to other people and you can even earn rewards just for depositing assets or increasing your trading volume. As the platform is available worldwide, users from almost all countries can register and start trading on BTCEX.