What is Bitrue?
Bitrue is a centralized cryptocurrency exchange launched in July 2018, designed to provide a secure, user-friendly platform for trading over 700 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Solana (SOL), and its native Bitrue Coin (BTR). Headquartered in Singapore and registered in the Seychelles, Bitrue operates globally with offices in the United States, Europe, and Asia-Pacific, serving millions of users with a reported 24-hour trading volume exceeding $2.2 billion. The exchange is particularly renowned for its extensive support for XRP, offering over 50 XRP-based trading pairs, which account for more than 10% of global XRP trading volume, thanks to a close partnership with Ripple.
Bitrue caters to both novice and advanced traders with a suite of features, including spot trading, futures trading with leverage up to 100x, margin trading, and exchange-traded funds (ETFs). Its Power Piggy staking program, which pays daily interest, and Bitrue DeFi, offering high-yield opportunities, are standout features for passive income seekers. The platform supports fiat-to-crypto purchases in currencies like USD, EUR, GBP, and AUD via credit cards or bank transfers through third-party merchants, though it lacks direct wire transfer deposits. Bitrue’s mobile app, available on iOS and Android, integrates TradingView-based charting and real-time market data, earning praise for its intuitive interface. The BTR token enhances user benefits, offering a 20% trading fee discount, higher staking yields, and voting rights for platform decisions, with a total supply of 820 million and 179 million burned to reduce circulation.
Security is a priority, with 99% of funds in cold storage, two-factor authentication (2FA), IP whitelisting, and partnerships with firms like McAfee and NSFOCUS. However, Bitrue’s history includes a 2019 hack costing $4.5 million (fully refunded to users) and a 2023 exploit losing $23 million, raising concerns despite improved measures. Regulatory challenges persist, as Bitrue is not regulated by stringent authorities and suspended U.S. services in April 2023 due to compliance issues, excluding residents of Texas, New York, and OFAC-sanctioned countries. User reviews are mixed, with some praising low fees and asset variety, while others report withdrawal delays and poor customer support, limited to email without live chat. Recent X posts highlight active promotions, like $XRP and $LTC reward festivals and $ALGO staking with 7.3% APY, reflecting Bitrue’s community engagement. For traders seeking XRP-focused trading, low fees, and diverse earning options, Bitrue is attractive, but its security history and regulatory gaps warrant caution.
What are the trading fees on Bitrue?
Bitrue’s trading fees vary by trading pair. For spot trading, most BTC, ETH, and USDT pairs have a flat fee of 0.098% for both makers and takers, below the industry average of 0.25%. XRP/BTC, XRP/USDT, and XRP/ETH pairs charge 0.196%, while other XRP pairs are 0.28%. Futures trading fees start at 0.1% for makers and 0.2% for takers. Using BTR tokens for fees grants a 20% discount. No deposit fees are charged, but withdrawal fees apply (e.g., 0.0005 BTC for Bitcoin, 0.25 XRP for Ripple). Fees are transparently listed on Bitrue’s website, though third-party fiat deposit fees may apply.
Does Bitrue offer leverage trading?
Yes, Bitrue offers leverage trading through its futures and margin trading platforms. Perpetual futures support leverage up to 100x on various pairs, including BTC/USDT and ETH/USDT, while margin trading offers up to 5x leverage for select assets. Leveraged ETFs provide exposure to asset performance without managing margin trades. High leverage carries significant risks, including liquidation, and is not available in all regions due to regulatory restrictions. Traders should use risk management tools like stop-loss orders.
