Monday, 25 March 2019

BiteBTC - cryptocurrency exchange

BiteBTC exchange review The world of cryptocurrencies has literally taken over the world as we know it, with people from all over the world accepting it in their midst. It all started off in 2008 with a cryptocurrency called bitcoin where there were a few cryptography fans that would send bitcoins to and from each other for fun, and then walks in Satoshi Nakamoto. Nakamoto is considered to be the person or group of people behind the creation of bitcoin, and being responsible for introducing the cryptocurrency into the mainstream arena.

Once people realised the full potential of cryptocurrencies people were able to cater to the needs of the public, despite certain governments best efforts to subdue the rising popularity of alternative monetary sources. One of those needs was to create a way for people to obtain the plethora of different cryptocurrencies that are available to purchasing, and of course we now know these services as crypto exchange platforms.

Depositing & Withdrawing

Such platforms allow people access to a marketplace that contains a host of different cryptocurrencies that are available for purchase, for trading purposes or to simply buy and hold, which is a popular strategy for certain altcoins. Platforms such as BiteBTC are perfect for people who wish to get involved in the cryptocurrency space and have the freedom to do what they want with their crypto coins. Many problems people face when entering the crypto space is finding a sufficient and trusted exchange platform that is capable of handling transactions that exchange fiat currency to cryptocurrency. However, BiteBTC has a flawless exchange process that is able to handle large sums of fiat currency and exchange whereas countless other platforms sacrifice certain aspects of an exchange in order to make it look appealing, but when you pop the hood and take a look what is underneath you will notice that not everything is as it seems. A lot of under-developed crypto exchanges have been put together so badly that the time it takes to successfully deposit money into an account can take quite a long time. Furthermore, BiteBTC has been developed by a dedicated team that has made sure that the process of depositing funds works as flawlessly as possible. The time it usually takes for money to be successfully deposited on the BiteBTC platform is 1-2 days, although for depositing other cryptocurrencies the process will usually take a few minutes/confirmations. The only downside for the deposit process on BiteBTC is that SWIFT wire transfers can take up to 5 business days for the funds to be processed and added into your account. Much like with the majority of crypto exchanges out there, there are certain charges that you will incur when depositing fiat currency.



Payment system Deposit Withdrawal
Wire Transfer % (min 20 USD) 2% (min 20 USD)
Visa/Mastercard 0% N/A
AliPay 0% N/A
OkPay 10% 5%
JCB 2% 2%







Sign up/Verification Process

Cryptocurrency exchange platforms have to be some of the most secure platforms on the Internet as they are the providers and facilitators of some of the important transactions to date when dealing with various cryptocurrencies. In order for a platform to be secure there needs to be a rigorous sign up process, that can sometimes take up to a few weeks depending on the platform. One of the most important things to consider when looking for a respected crypto exchange is the verification process that accompanies the platform. Some exchanges don’t have much in terms security when it comes to the sign up process, whereas the more prestigious and well-known like BiteBTC for instance requires you to fill out the necessary details such as; first name, last name, gender, DOB, proof of residence, city, address, postal code, phone number, photo ID.

KYC

BiteBTC is fully cooperative with KYC policies, so you can rest assured that your data and personal information is safe in their hands. For those who don’t know what a KYC policy is, it is a method for a company to know their customers as well as verify their identity in order to prevent issues such as fraud.

Trading

Some of the best crypto exchange platforms not only offer a way of being able to sign up for an account to purchase a variety of different cryptocurrencies, but they also have incorporated a way for their users to be able to trade those different cryptos. Trading has become a very popular means of making money online, which is favoured by so many people and because all it takes is a computer and a sufficient Internet connection, anyone can do it. BiteBTC is one of those platforms that gives its users the ability to trade the different cryptocurrencies, and to access the trading platform on BiteBTC is really quite simple. All you have to do is click on the “Exchange” button in the navigation bar, which will take you to this page.




The layout of the BiteBTC trading platform is very simple use and understand, and it is probably one of the best platforms available today. In the centre of the screen you can see a live price chart for any particular cryptocurrency that you select from the list located in the left-hand pane. Once you have selected your chosen cryptocurrency to trade on the live markets, you must enter how much you intend trade with.

Exchange Arbitrage

Because the trading of cryptocurrencies, as well as cryptocurrencies being relatively new, there is still a lot of work that must be done in order to create a fully fledged system in order to combat the constant changes in prices on different platforms. To put it into context, you could have one platform that has a cryptocurrency that we will call “A” for now which is priced at $10, but the same coin could be priced at $8 on a different platform and because there are smart people in this world, they are likely to take advantage of the price disparity. BiteBTC has ensured that it offers the best price possible for any of its cryptocurrencies, by being up to date with the latest prices from all over the world.

Comparison with other platforms

Every single cryptocurrency exchange platform is fighting for as many users as possible because they make their commissions off of the deposits, withdrawals and trading of cryptocurrencies. However there are some genuine exchange platforms out there that have taken the time to develop a really great platform and offer an amazing experience. The problem that a lot of people face today when using various cryptocurrency exchanges is that the platform hasn’t been created with the user in mind, but rather for profits and because of this the cracks begin to show and users become wise to the fact that they haven’t been put first. BiteBTC is one of the few exchange platforms that is extremely user-friendly and has been built specifically for the user to have a seamless and flawless trading experience. The important step that the platform has to take now is how it can built on top of its current situation, and be one of the most sought out cryptocurrency exchange platforms for people to use.

API

BiteBTC offers automatic API trading system, which makes efficient trading strategy to be developed using API technology. hey provide you with everything you need to make trading on BiteBTC as convenient and effective as possible.
With our API technology, you will have quick access to all major operations on the BiteBTC trading platform 24 hours a day, 7 days a week.
BiteBTC offer two types of highly precise and responsive API keys:
1) Public API Methods
2) Private API Methods

FAQ

For more info visit their Frequently asked questions FAQ

Support

Support team is very responsive, it should take from 1 hour, but not more then 24h, which can not be said for other exchanges.
Everyone ca get support on BiteBTC support page.

Fees:

Fees are as low as possible. They are subject to change but currently, for example fees for Bitcoin are 0.2% with minimum payment size of 0.0001 BTC and maximum payment size of 100BTC.

Social

BiteBTC social networks:
Twitter | Telegram


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