Amid the rising curiosity among users, crypto exchanges is increasing day by day post the crypto crash last year. Being one of the top crypto exchanges in Europe, Bitsane is innovating new features regularly. You Know why? because the vision of future trading is more compelling.
There are many Bitsane Reviews available out there. But Let’s take a look at this Bitsane review before you start investing, which will provide you in-depth knowledge of Bitsane trading.
Quick Navigation :
- About Bitsane
- Features of Bitsane
- Bitsane Security
- Bitsane Fees
- How to Trade on Bitsane?
- Bitsane Latest Updates
The company partners with some of the most efficient platforms such as Bitcoin.com, Coinmarketcap.com,
Features of Bitsane
The trading engine of the exchange is really fast and efficient. There are complete trading instruments available for trade execution. For any support or query related to trading and exchange, Bitsane provides the assistance of professionals and experts who guide and solve the issues instantly for trading experience.
This platform provides several easy payment options such as wire transfer, SEPA (Single European Payments Area), and add cash.
This mobile application is compatible with both Android and iOS. There are several features available such as real-time quotes, buy/sell option, easy and instant deposits, and withdrawals. Also, there is a fast customer service option available for new timers and beginners.
Bitsane also offers Affiliate programs on this platform. Several brands or people can become an affiliate and promote Bitsane through referrals and recommendations. In return, the affiliate could earn cryptocurrency.
There are also strong and powerful API’s that developers could use to build applications. Both public and private API’s are available on Bitsane for developers who can integrate Bitsane features on their own platforms.
As far as security is concerned, the Irish exchange follows strict Anti-Money Laundering (AML) and Counter Terrorist Financing (CTF) guidelines or policy. Only those users who have valid ID proof’s can join the crypto community thus, keeping it safe. 2FA(two-factor authentication) secures the accounts.
Network security plays a major role in Server protection. All the infrastructures are up to date, there is 24-hour network backup. They continuously monitor the servers with advanced tools.
Since the money circulation happen continuously on the servers, Bitsane prefers keeping them in ‘cold storage’. This keeps the money from cyber crimes and also eliminates the risk of volatility.
Compared to other exchanges, Bitane fees are competitive. Fees for the maker is 0.15% and for taker is 0.25 % ( individual and corporate). For Advcash, the deposit fees for Eur is 6% and withdrawal fees are 0% and for USD it is 1% and 6% for deposit and withdrawal respectively (both individual and corporate).
For SEPA/wire, the deposit fee for EUR (trust fee is 0.5% and mister tango: 1EUR). and the withdrawal fee(SEPA zone: 5EUR and other countries: 30EUR).
Fees for depositing is free and for withdrawal Bitcoin, the fee is 0.001BTC. The withdrawal fees vary for different coins.
How to Trade on Bitsane?
In order to register a new account, a user can log on to www.Bitsane.com. Then click on the tab “Signup”. Enter the details.
A verification link is sent to the registered email ID. Once the user activates the account, he can begin with trading and exchange.
Click ‘Balances’ → ‘Wallets’. Choose the currency you wish to deposit, click ‘Deposit’ on chosen currency. The wallet generates a deposit address, copy the address, launch your desktop wallet (or else) paste the address, and complete the transaction.
For fiat, choose the payment method, enter the amount and proceed.
Click ‘Balances’ → ‘Wallets’. Choose the currency you wish to withdraw, click ‘Withdrawal’ on chosen currency. Enter the amount and the address where you want to withdraw the money, press the ‘Proceed’ button to finish your withdrawal.
Buy/Sell at Bitsane
Bitsane has a user-friendly interface that is easy for both beginners and professionals. In order to buy the Bitcoins, select the order type. The order type could either be a limit order or market order. The user can select the amount and check the real-time value of that particular currency before placing the order.
For selling on Bitsane, firstly user can check the crypto balance. Once the funds are available user can select the order type and also check the current market price of the crypto before selling it.
There is a candlestick chart that shows the 24-hour volume of trading with different timelines. The user can also check the bidding for the trading pair of interest.
May 17, 2019: Bitsane adds TRON (TRX) to its trading list. It will be available for trading in the following pairs on the platform: TRX/BCH, TRX/BTC, TRX/EOS, TRX/ETH, TRX/EUR, TRX/LTC, TRX/USDC and TRX/USDT.
May 16, 2019: Delisting of Namecoin and Peercoin. Bitsane will suspend The deposits and trade orders for NMC on May 16, at 18:00 UTC. Traders cannot withdraw these coins from May 17, at 12:00 UTC.
May 06, 2019 : Quantum (QTUM) is now available for trading.
QTUM can be traded in the following pairs:
QTUM/USDT, QTUM/BTC, QTUM/ETH,QTUM/BCH, QTUM/EUR, QTUM/LTC, QTUM/DASH,QTUM/XRP, QTUM/EOS, QTUM/USDC and QTUM/MKR.
April 24, 2019 : Bitsane gave a big update for all our users! Four new ERC-20 standardized tokens were added to the exchange and are available for trading now.
OmiseGO (OMG), Maker (MKR), USD Coin (USDC) and 0x (ZRX).
All of the above currencies are available for trading with BTC, EOS, ETC, ETH, EUR, LTC, USDT, and XRP. USDC can also be traded with DASH, DOGE and REP. Moreover, the newly listed currencies are available for trading with each other in the following pairs: OMG/MKR, OMG/USDC, MKR/USDC and ZRX/USDC.
Bitsane exchange platform has vanished along with the deposits of 246000 users.
One of the account holders revealed to Forbes that the withdrawal of bitcoin, ripple and other cryptocurrencies began failing in may. Bitsane exchange later clarified that “due to technical reasons caused withdrawals to be temporarily disabled”.
It is no longer possible to access the website of this exchange. The website including all social media accounts of Bitsane and its partner exchange Anybits was apparently deleted on 17 June 2019. The LinkedIn-profile of the CTO (Dmitry Prudnikov) has apparently also been deleted. It is considered to be the biggest Cryptocurrency Scam.
Final Verdict on Bitsane Review
Bitsane is a Ireland based crypto-exchange that offers various methods to exchange the most famous coins with aggressive trading and payment fees. Another feature of the exchange is that it supports a few payment methods, including the SEPA, Wire
Overall, the platform has a good interface, competitive fees, different altcoins and looks more promising.