RESEARCH & ANALYSIS
FOR THE CRYPTO ECONOMY.

BitForex

BitForex Exchange Review

Centralized

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.

  • 24h Trading Volume

    133358.979 BTC
  • Establish date

    2018
  • Headquater

    Seychelles

BitForex Exchange Review

  • BitForex Withdraw

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

  • BitForex Deposit fees

    Free
  • BitForex Trading fees

    Trading fees have a distinction of a “maker” fee or a “taker” fee.

    Maker fee rate: 0 %

    Taker fee rate: 0.05%

  • Accepted Payment Method

    Crypto to Crypto only
  • Native Token

    No
  • Margin Trading

    Yes

BitForex Exchange Score Analysis

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.