RESEARCH & ANALYSIS
FOR THE CRYPTO ECONOMY.

BTCMarkets

BTCMarkets Exchange Review

Centralized

BTCMarkets Overview

  • Local/Regional Exchange - cannot be rated at this time.


    BTC Markets is an Australian online asset exchange platform based in Melbourne, Australia, in 2012. It’s privately owned. It provides trading cryptocurrencies against AUD and BTC. It offers “Self-Managed Super Fund (SMSF)” which allows customers to report their taxes and get personalized services when trading with large amounts. There is a consulting service provided for the businesses, however, the extensive info is not given on the website, so the users have to email BTC Markets.

    BTC Markets claims that it matches the funds in the accounts by holding a full reserve in the cold wallets and its bank. It holds the cold wallets in multiple secure locations. Customers can also use hot wallets. There is a wallet management system to help users to select the best way to secure their funds.

    When it comes to feedback and complaints, there are mixed opinions from the users’ point of view. Although the exchange made it very clear where to approach and the necessary time period to resolve an issue, many of the users are stating that the waiting time it too long and exceeds 10 day period (according to the website it’s approximately 10 days). The exchange warns the customers that all the conservations should happen in a written form. Some negative reviews about the exchange include the exchange not notifying the change in BPAY deposit address, hacked accounts, funds disappearing, and slow verification of the accounts. Other than these, user reviews claim that the contact phone number doesn’t work, and the location address doesn’t exist, so people cannot locate the exchange.

    Regarding the fees, there is a fixed rate of 0.22% when trading with only cryptos. Trading with crypto/AUD has fees that differ according to 30day AUD volume, and the fees decrease as the trading volume increase. Making a deposit is free, however, the withdrawal fees differ for each cryptocurrency. For instance, the withdrawal fee for BTC is 0.0003 and Australian bank transfer withdrawal is free.    

    BTC Markets was founded by Martin Bajalan, who has been the founder and the CEO from June 2012-Dec 2013. After that period, he moved to software development in other companies. In January 2018 he became the founder and CEO of TransBit, which helps with trading, exchange and payment services of BTC Markets. 

     

    BTCMarkets Exchange Review, Trading Fees, Deposit and Markets

    • 24h Trading Volume

      110.868 BTC

      • BTCMarkets Total Trading Pairs

        9

        • BTCMarkets Margin Trading

          No

          • BTCMarkets Deposit fees

            Free

            • BTCMarkets Trading fees

              Cryptocurrency pairings: 0.22% AUD pairings: 0.1% - 0.85%  

              • BTCMarkets Fiat Deposit

                Yes

                • Accepted Payment Method

                  N/A

                  • BTCMarkets Native token

                    Yes

                    • Native token smart contract

                      N/A

                      • BTCMarkets Trading Markets
                        • BTCMarkets Stablecoins trading

                          N/A

                          BTCMarkets Markets Data

                          Market Price Volume(24h) Change(24h) Last update
                          BTC/AUD AUD 14,587.0 Ƀ 98.60

                          AUD -164.70

                          -1.12%

                          2019-09-23 14:30:01
                          ETC/AUD AUD 8.85 ETC 258.13

                          AUD -0.11

                          -1.23%

                          2019-09-23 14:19:29
                          ETC/BTC Ƀ 0.0005859 ETC 0

                          Ƀ 0.0

                          0.00%

                          2019-09-19 00:31:40
                          ETH/AUD AUD 305.67 Ξ 585.01

                          AUD -5.67

                          -1.82%

                          2019-09-23 14:31:03
                          ETH/BTC Ƀ 0.02083 Ξ 0.5012

                          Ƀ -0.00057

                          -2.68%

                          2019-09-23 10:04:20
                          LTC/AUD AUD 106.66 Ł 357.90

                          AUD 0.66

                          0.62%

                          2019-09-23 14:28:46
                          LTC/BTC Ƀ 0.007567 Ł 15.52

                          Ƀ 0.00033

                          4.60%

                          2019-09-23 07:04:03
                          XRP/AUD AUD 0.4032 XRP 788,339.1

                          AUD -0.0085

                          -2.06%

                          2019-09-23 14:30:29
                          XRP/BTC Ƀ 0.00002722 XRP 23,722.9

                          Ƀ -5.6e-7

                          -2.02%

                          2019-09-23 13:57:26

                          BTCMarkets Withdrawals

                          • Daily Withdrawal Limit

                            /

                            • BTCMarkets Withdraw fees

                              BTC - 0.0001 BTC ETH - 0.001 ETH LTC - 0.001 LTC Full list of fees can be found here

                              • BTCMarkets Withdraw fees discount

                                Lower trading fees for AUD pairs with higher 30 day AUD trading volume. Full details here

                                • Proof of Reserves

                                  N/A

                                  BTCMarkets Exchange Additional Information

                                    • BTCMarkets Headquater

                                      N/A

                                      • BTCMarkets Establish date

                                        N/A