Bitsane Review

Bitsane is a cryptocurrency trading platform that was launched in 2016 in Dublin, Ireland. The system is doing all it can to stand out from other exchanges. Bitsane provides its users with the opportunity to trade (buy/sell) the most popular cryptocurrencies including Bitcoin, Litecoin, Ripple, and Ethereum as well as upcoming altcoins such as Doge and REP. In total, the platform allows you to trade more than 80 Crypto pairs.

According to information listed on the company website, the brand has a massive user base of over 242,000 active traders, and it processes more than 25,000 transactions daily. The platform prides itself as “Having the world’s fastest Forex trading engine,” and as the “fastest-growing cryptocurrency exchange platform.” We have not verified this claim, but all in all, it’s a promising tagline.

Bitsane offers both crypto-to-crypto and crypto-to-fiat trading through a single account type. Traders on this platform can exchange cryptocurrencies with fiat currencies like the US Dollar and Euro. The brand does not restrict US-based traders from accessing and using its platform, but it requires them to personally evaluate any legal issues that may result from using its services based on their citizenship or residence. Bitsane enjoys critical support from strategic investors in the crypto niche, including bitcoin talk, NewBTC, Bitcoin.com and more.

From the bottom up, Bitsane is built with both new and experienced traders in mind. Its user interface is easy to use and navigate, and its engine delivers super-fast trade execution time to ensure smooth trading experience. Bitsane guarantees safety and security to all its users as well as professional support from their excellent support staff. It does not require users to verify their identity unless they want to use bank transfers to deposit or withdraw funds.

Commissions and Fees

Bitsane offers relatively competitive fees for the current state of the crypto-market. Every trade involves two parties: the maker (who provide liquidity by adding new orders to the book) and the taker (traders who match existing orders with their own – effectively reducing the number of available orders on the exchange). For takers, the trading fee is 0.25%, which is in line with the industry`s average. Bitsane`s maker fee is 0.15%.

Bitsane taker fee is not exceptional compared to the rest of the industry, but its lower maker fee gives it a competitive edge in the industry by encouraging liquidity. The fee is also beneficial for traders not interested in picking up already existing orders from the order book but rather prefer to “go hunting” for maker-orders. Bitsane`s withdrawal fee is 0.0001 BTC; hugely lower than the global industry average, which stands at 0.000812 BTC.

Trust, Security, and Safety

CoinMarket regularly ranks various cryptocurrency exchanges, and Bitsane consistently ranks among the top 120 based on trade volume. CoinmarketCap lists BCH/EUR and BCH/BTC as the most popular pairs on the platform. However, despite its massive growth and popularity, Bitsane Ltd, the firm that operates Bitsane exchange, is not regulated by any government authority. This is primarily because as of to date, the government of Ireland – as is the case with many jurisdictions in the world – is yet to establish the legal framework for the regulation of cryptocurrency exchanges.

Nevertheless, Bitsane values its users. It puts traders security and safety first. Some of the security programs it has in place include advanced monitoring and cold storage as well as network protection and back up. Bitsane follows strict Counter-Terrorist Financial (CTF) and Anti-Money Laundering (AML) guidelines. All transactions on its platform are secured using the latest 128-bit SSL encryption and two-factor authentication.

Desktop Experience

The Desktop Bitsane`s trading engine is really efficient. The user interface is designed to accommodate both new and experienced investors. Upon logging in, a user is offered several trading instruments for trade execution, such as buy/sell option and real-time quotes. For queries or assistance related to exchange and trading, Bitsane provides the help of professionals or experts who guide and help solve the issues instant for good trading experience. The platform is compatible with both Windows and Mac PCs.

Mobile Experience

Bitsane Exchange has a mobile application for trading even while on the go. This mobile application is compatible with both iOS and Android. There are several features available on the application, such as easy and instant deposits, real-time quotes, and buy/sell option. Also, a fast customer service option is available for new timers and beginners.

Opening an Account

Registering on Bitsane`s website is pretty easy, free, and does not need any personal information like credit card details. All you have to do is register a free account on their website. For registration, all you need is an e-mail address and a password. You will then be required to state the country you live in and accept the terms of use. Later you will receive an e-mail containing an activation link. Once you confirm the ink, your user account is activated, and you can log in and use Bitsane.

Hint: Bitsane has a mandatory account verification requirement for traders using Bank wire transfers to fund their account or withdrawal their gains.

Deposits and Withdrawal Options

Bitsane accepts deposits via wire transfer or the regular fiat currency. The platform has partnered with AdvCash, a cryptocurrency debit card provider for both deposit and withdrawals. Bitsane also supports SEPA wire transfers, which are cheap and very fast. Some of the deposit options you can choose from include:

  • OKPAY
  • SWIFT bank transfer
  • AdvCash
  • SEPA European transfers

Depositing coins is quite easy. First, click on ‘balance’ and select the desired fiat money or crypto coin under ‘wallets’. Then click on ‘deposit’. Once the transaction is complete, the number of coins will appear in the corresponding wallet (fiat or crypto) on your Bitsane account.

Withdrawable funds are always made available to Bitsane users. Dash and Iconomi are made available for you to trade with Dollars and Euros. The most popular withdrawal option on Bitsane is AdvCash wallets.

To cash out, click ‘Balances’ then ‘Wallets’. You will then choose the currency you intend to withdraw. Click ‘Withdrawal’ on the selected currency. Fill out the amount, and the address where you want to send the money, then click ‘proceed’ to complete the transaction.

Buying/Selling at Bitsane

The platform has a user-friendly interface suitable for both beginners and professionals. For you to purchase the Bitcoins, select the order type first. The order type you chose could either be a limit order or market order. Bitsane allows you to monitor the real-time value of that particular currency even as you select the amount you want to trade.

If you want to sell on Bitsane, you will need to check your crypto balance first because Bitsane supports spot trading only mainly because leveraged trading in the dynamic and volatile cryptocurrency is not a good idea.

Bitsane Trading View

Different exchanges on Bitsane have different trading views. No overview can be declared the best, so you will have to find yourself a trading view that suits you best. The only thing the views have in common is that they all display the order book or at least a part of the order book, order history, and a price chart of the chosen cryptocurrency.

All overviews usually have buy and sell-boxes. Make sure you have a good look at the trading view before selecting an exchange so that you ascertain that it suits you well. Overall, the Bitsane trading view is easy to use for intermediate, advanced traders, and newbies with basic understanding of trading strategies and principles.

Final Thoughts

ApprovedBitsane is an Ireland based crypto-exchange platform that offers its users an opportunity to trade some of the most common digital currencies with competitive trading and payment fees. The platform supports several payment methods, such as the reliable SEPA among other e-wallets. Overall, Bitsane has a good user interface, competitive fees, and different coins and looks more promising.

Bitsane Update

Bitsane users can no longer access the website. The site, including all Bitsane`s social media accounts as well as those of its partner exchange, Anybits, were deleted on 17 June 2019.

Is this your final decision?

We suggest you visit one of the most popular trading platforms instead!

 

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General Risk Warning: The financial products offered by the company carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.

Pros

  • Variety of cryptocurrencies to choose from
  • Efficient support
  • Easy to navigate, especially for beginners
  • Low fees
  • Super-fast transactions

Cons

  • Variety of cryptocurrencies to choose from
  • Efficient support
  • Easy to navigate, especially for beginners
  • Low fees
  • Super-fast transactions

7 Binary Options review: Bitsane: 3 stars

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