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FatBTC Exchange Review

Overview

Legal NameFatBTC Exchange
HeadquartersHong Kong
CEOChangpeng Zhao
Year Founded2014
Exchange TypeCentralized
Trading FeesMaker: 0.20%/ Taker: 0.20%
Deposit MethodsWire Transfer, Cryptocurrency
Supported Cryptos 65+ coins including Bitcoin (XBT), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and more
FiatChinese Yuan
Customer Service Email, Phone
Trading OptionsSpot Trading

The cryptocurrency exchanges continue to grow and increase in size including everything from new projects, coins, the number of users, etc. With the more choices being set before the investors and traders, it can be quite challenging when it comes to choosing an asset to invest and an exchange to trade on.

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To help you pick the right exchange, Here is the review on one of the trusted exchanges namely FatBTC Exchange

In this article, we will be taking a look at FatBTC exchange, and try to determine where it stands in comparison to others. Let us look into this FatBTC review in detail now,

What is FatBTC?

FatBTC is a centralized cryptocurrency exchange launched in China in the year 2014. It covers BTC, ETH, USD markets as well as provide pairs against FAT, the platform’s native token. The FatBTC exchange is available in numerous languages including Chinese, English, Spanish, Russian, Portuguese, and Vietnamese. 

The platform is pretty easy to use, with simple deposit and withdrawal options. Although its trading mechanism is slightly different from that of most other platforms. There is no minimum amount that you can deposit, except when it comes to a handful of tokens, including Tether (USDT). 

In terms of security, the exchange protects its users by employing the HTTPS protocol and keeping the funds in offline wallets.

FatBTC Features

  1. Fast & Flexible Listing Scheme: For projects which need to get listed, FatBTC is always the best choice. FatBTC provides fast listing services for projects. For ERC projects, it takes only 2 business days to get listed. For other projects, the time frame to list a complicated coin is about 7 business days.
  2. FatCloud System: FatBTC launched FatCloud the Digital Asset Exchange Open Partnership Program to help partners to build their exchange. It’s a high-performance exchange SaaS system. Become a partner of FatBTC, you can open your own exchange in 3 days without technical team and cost.
  3. Lowest Fees: FatBTC charges the lowest fee in almost the entire exchange industry. Deposits are free, FatBTC does not charge a deposit fee. The transaction fee is 0.2%. But anyone can easily get 50% OFF by turning on the button of deducted trading fee with FAT. Fatcoin is their exchange token.
  4. Responsive Support: FatBTC offers round-the-clock support on the Website, Telegram, Twitter, Reddit, WeChat, and other platforms.
  5. Secure API: FatBTC provides both Websocket API and Representational State Transfer (REST) API which you can easily access through HTTPS requests.

FatBTC Fees and Limits

This specific exchange charges its fees on a “flat” basis. This means that they do not have different fees for takers or makers. Both parties in trade need to pay the same fee. The FatBTC fees are 0.20%.

They charge a withdrawal fee of 0.0007 BTC when you withdraw BTC. This is slightly below the global industry average of 0.000812 BTC. FatBTC also does not charge any deposit fees for crypto deposits. FatBTC offers wire transfer as a deposit method, but you cannot deposit via credit card.

Use this referral link to register: https://www.fatbtc.com/register?uid=u1011160254

FatBTC Supported Currencies

FatBTC supports trading of more than 65+ cryptocurrencies, including some of the notable ones such as Bitcoin (BTC) Bitcoin Cash (BCH) Dash (DASH) Dogecoin (DOGE) Litecoin (LTC), etc

FatBTC-Supported-Currencies

FatBTC Mobile App

FatBTC provides a mobile application in both Android and IOS, free of charge. This FatBTC app is dedicated to trading on FatBTC and other features on the go.

FatBTC-Mobile-App

How to register on FatBTC?

Step 1: Navigate to the Official Website, click on the Sign-up option

Step 2: Enter your email address and choose a strong password

Step 3: Now click on “Get Code” Option. You will get a code on the registered email address

Step 4: Enter the code in the box provided and click on the sign-up option

Step 5: Log in to your account and Go to the Verification tab.

Step 6: Upload a photo of your ID or passport, as well as a photo of yourself holding the identification document to complete the FatBTC KYC Verification.

How to recover the FatBTC password?  

In certain cases, to recover the FatBTC password, Go to the FatBTC Login page, click on the “Forgot Password” option. Then enter your personal information and user id after which you can reset your password. 

recover-the-FatBTC-password

How to deposit on FatBTC?

Step 1: Log in to your fatBTC account

Step 2: Click ‘Balances’ tab on the right side above, and then choose a token.

Step 3: Once you have chosen the coin, click ‘Deposit’.

Step 4: Enter the amount you wish to deposit and submit the request

Step 5: Finally, copy the address to the exchange that you wish and deposit the coin.

How to withdraw on FatBTC?

Step 1: Log in to your fatBTC account

Step 2: Click ‘Balances’ tab on the right side above, and then choose a token.

Step 3: Once you have chosen the coin, click ‘Withdraw‘.

Step 4: Enter the amount you wish to withdraw and submit the request

Step 5: Finally, copy the address to the exchange that you wish and withdraw the coin.

How to buy cryptocurrencies on FatBTC?

Step 1: Visit the Official Website, Sign in to your FatBTC account.

Step 2: Select the “Exchange” Option.

Step 3: Choose the currency you want to buy from the column list

Step 4: Go to the Buy part of the Limit Section. Enter the amount you want to buy in the Amount Option.

Step 5: Set the Fund Password and verify the KYC Code

Step 6: Once the desired amount is set, Now click on the Buy Option

How to sell cryptocurrencies on FatBTC? 

Step 1: Visit the Official Website, Sign in to your FatBTC account.

Step 2: Select the “Exchange” Option.

Step 3: Choose the currency you want to sell from the column list

Step 4: Go to the Sell part of the Limit Section. Enter the amount you want to sell in the Amount Option.

Step 5: Set the Fund Password and verify the KYC Code

Step 6: Once the desired amount is set, Now click on the Sell Option

FatBTC Pros and Cons

Pros

  • Variety of altcoins accepted
  • It has Competitive fees
  • Chinese bank transfers accepted
  • No deposit fees
  • Their own tether coin

Cons

  • Fees on withdrawals
  • No Margin trading or leverage
  • The trading platform is not advanced
  • Few negative comments on the exchange
  • Account verification is often slow

Conclusion 

FatBTC Exchange aims to keep its users and their assets safe while offering some great services at the same time. It supports fiat trading which makes it a good entry-level exchange, and it has an excellent asset offering, including its own token.

According to Alexa website traffic analysis, this exchange website has 47266, rank worldwide. Its website is most popular in Japan with an Alexa rank of 3065. FatBTC possesses more than 95% of Digital assets which are securely stored in Multi-signature, Cold Wallets.

All in all, it is a great exchange with years of experience and no security incidents that would spoil its reputation.

Read related information: Coinfloor Review LiteBit Review CoinTiger Fees

What is your opinion on FatBTC review? Share your thoughts in our comments section. Share your views on our Twitter and Facebook pages. Also, read the reviews of other exchange.

Recent Updates 

  • On April 22, 2020, Oldtimer(OLD) gets listed and available on FatBTC
  • On May 28, 2020, Indacoin partnered up with FatBTC, Secure Blockchain, and Crypto exchange
  • On May 30, 2020, FatBTC organized the 50,000 JDC Giveaway
  • On June 24, 2020, Elitium (EUM) gets listed and available on FatBTC

FatBTC - 8.6

8.6

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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