Bittime is an Indonesian local exchange that is regulated by BAPPEBTI
What is Bittime?
Bittime, established in September 2021, is a centralized cryptocurrency exchange based in Jakarta, Indonesia, designed to provide a secure and accessible platform for trading over 300 cryptocurrencies and 380 trading pairs, including Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Dogecoin (DOGE), Ripple (XRP), Cardano (ADA), Solana (SOL), and Polkadot (DOT). Registered with Indonesia’s Commodity Futures Trading Supervisory Agency (Bappebti) in April 2022 and the Ministry of Communication and Information Technology (Kominfo) in November 2021, Bittime holds ISO 27001 and ISO 27017 certifications, underscoring its commitment to security and regulatory compliance. The platform reports a 24-hour trading volume of approximately $12.48 million, ranking 155th globally with a trust score of 5/10 per BeInCrypto, serving a growing user base in Indonesia and beyond.
Bittime focuses on accessibility, allowing users to trade with a minimum investment of 10,000 Indonesian Rupiah (IDR, $0.60 USD), supported by seamless fiat on-ramps via major Indonesian banks (BCA, BRI, Mandiri, Permata, CIMB) and e-wallets like OVO. The platform offers spot trading, staking with up to 20% APY on assets like USDT (10%), ETH (10%), DOT, SOL, and ADA, and a crypto calculator for portfolio planning. Its mobile app (iOS and Android) features real-time market data, TradingView charts, and instant IDR withdrawals, earning praise for low fees and ease of use. Bittime’s blog provides market trends, Web3 insights, and price predictions for assets like BTC, XRP, and HBAR, fostering user education. Recent X posts promote trading competitions with USDT prizes up to Rp50 million ($3,000 USD) and highlight assets like TON and RONIN, reflecting active community engagement.
Security measures include cold storage, 2FA, and an automated transaction system, with no reported hacks to date. However, Bittime’s lack of public proof-of-reserves data and a moderate trust score raise transparency concerns, particularly compared to exchanges like WOO X or Kinesis Money. Services are restricted in countries like the U.S., UK, and sanctioned regions due to regulatory limits, and its focus on IDR pairs caters primarily to Indonesian users, limiting global appeal. User reviews commend fast deposits and staking returns but note occasional app lag and limited advanced trading tools. For Indonesian traders seeking low-cost, regulated crypto trading with fiat support, Bittime is a strong option, but its regional focus and transparency gaps require caution.
What are the trading fees on Bittime?
Bittime’s trading fees are varied for IDR and USDT trades. For crypto sells with IDR fees are Maker : 0.22%
- Taker : 0.34% (Include crypto tax & Bursa Fee), for USDT crypto sell fees are Maker : 0.32%
- Taker : 0.32% (Include crypto tax & Bursa Fee). You can find the detailed fees of Bittime Exchange in their official website.
Does Bittime offer leverage trading?
No, Bittime does not currently offer leverage trading, margin trading, or futures trading. The platform focuses on spot trading and staking, prioritizing accessibility and simplicity for Indonesian users. Traders seeking leverage should consider alternatives like Nami Exchange (up to 125x leverage) or BloFin (up to 150x leverage), noting regional restrictions.
Is there a research audit report for Bittime?
Bittime does not publicly disclose comprehensive third-party audit reports or proof-of-reserves data, with exchange reserves listed as unavailable on CoinGecko. While the platform holds ISO 27001 and ISO 27017 certifications and claims secure cold storage, the lack of transparent reserve audits raises concerns about fund safety, particularly for a centralized exchange. Bappebti registration enhances regulatory credibility, but users should approach with caution and monitor Bittime’s official channels for updates on reserve transparency.
Is Bittime safe?
While many major CEXes boast stronger firewalls than most governments, history has witnessed numerous instances where exchanges have fallen victim to hacks, resulting in the loss of customer funds. DEXes are generally safer option as you have control over your funds at all times as long as blockchain is up and running. It's all based on contract code so you can clearly look at what's behind the scenes, and how their contracts work.
Does Bittime have customer support?
Almost all exchanges provide customer support, but the quality, speed and continuity of this service varies from time to time depending on the budget conditions of the companies. We recommend that you experience the customer support service provided by the centralized crypto exchange by asking a question to the support section on its website.
