RESEARCH & ANALYSIS
FOR THE CRYPTO ECONOMY.

BitForex

BitForex Exchange Review

Centralized

BitForex Overview

  • BitForex is a digital asset exchange / cryptocurrency exchange that was launched in June 2018. A BitForex exchange review shows that it is a company that is registered in the Seychelles with headquarters in Singapore, a popular destination for blockchain projects. It also shows that this digital asset exchange is served by independent operating teams in various countries and jurisdictions, including Hong Kong, Japan, Korea, Malaysia and the Philippines.

    BitForex seems to enjoy the support of heavyweights such as Block VC, Genesis Capital, Node Capital, QTUM, TRON and other investors who are said to be well-known in the crypto space. They have reportedly provided funding in access of $20m at the beginning.

    A BitForex exchange review shows that it is currently listed in the top 10 cryptocurrency exchanges by volume, doing business in a 186+ countries via 146 markets. They offer spot trading involving 300+ token or cryptocurrency pairs. In addition, they provide an opportunity to earn commission on transaction handling fees by referring people to their platform. Furthermore, they seem to make use of a fast, reliable and secure matching engine that is capable of processing 1.6 million orders per second. They also launched a new service offering that allows for self-service when it comes to the listing of tokens on the BitForex platform.

    BitForex is not without controversy. A BitForex exchange review reveals that they are elsewhere being accused of creating fake volume, based on fake trades on a massive scale. If true, it is certainly not good for the crypto market, especially over the long-term.

    BitForex Exchange Review, Trading Fees, Deposit and Markets

    • 24h Trading Volume

      80650.365 BTC

      • BitForex Total Trading Pairs

        186

        • BitForex Margin Trading

          Yes

          • BitForex Deposit fees

            Free

            • BitForex Fiat Deposit

              None

              • Accepted Payment Method

                None

                • BitForex Native token

                  No

                  • Native token smart contract

                    N/A

                    • BitForex Trading Markets
                      • BitForex Stablecoins trading

                        BitForex Withdrawals

                        • Daily Withdrawal Limit

                          100 BTC

                          • BitForex Withdraw fees

                            Digital currency withdrawal fees are based on network costs.
                            Full list see here.

                            • BitForex Withdraw fees discount

                              N/A

                              • Proof of Reserves

                                N/A

                                BitForex Exchange Rating Analysis

                                Last edit 25.07.2019

                                • BitForex is a Fillipino based crypto currency exchange site. Bitforex offers a below average number of markets and an about average number of tradable pairs. BitForex offers a commission fee that is far below other competitors. Concerns for this project include a lack of public information on the team members and a lack of insurance in the case of a future hack.

                                  BitForex IEO launchpad

                                  Stage Start date End date Fundraising
                                  Evedo

                                  Evedo

                                  Apr 16, 2019 - Apr 30, 2019 N/A
                                  Adab Solutions

                                  Adab Solutions

                                  Apr 16, 2019 - May 24, 2019 $18.7M
                                  Bitsdaq

                                  Bitsdaq

                                  Mar 15, 2019 - Jun 30, 2019 S10M
                                  ECOMI

                                  ECOMI

                                  May 12, 2019 - May 14, 2019 1500 BTC
                                  Vid

                                  Vid

                                  May 22, 2019 - May 24, 2019 $3M
                                  Twogap

                                  Twogap

                                  May 22, 2019 - Jun 5, 2019 $30M
                                  Squeezer

                                  Squeezer

                                  May 1, 2019 - Jun 20, 2019 $15M
                                  MagnaChain

                                  MagnaChain

                                  Oct 1, 2018 - May 23, 2019 $55M
                                  Luxbio

                                  Luxbio

                                  Nov 15, 2018 - Feb 28, 2019 ETH 300K
                                  Mycro

                                  Mycro

                                  Jan 2, 2018 - May 30, 2019 $2.75M
                                  Alphanu

                                  Alphanu

                                  Jul 10, 2019 - Jul 14, 2019 $500K
                                  Ghost Talk

                                  Ghost Talk

                                  May 24, 2019 - Jun 3, 2019 $20M
                                  SESSIA

                                  SESSIA

                                  Jul 17, 2019 - Jul 20, 2019 $50M

                                  BitForex Exchange Additional Information

                                    • BitForex Headquater

                                      Seychelles

                                      • BitForex Establish date

                                        2018