FatBTC Exchange Review

A FatBTC exchange review reveals that this digital asset exchange / cryptocurrency exchange is based in China. They cater primarily to the Chinese market, but their website is available in more than one language, including English, Chinese, Portuguese and other languages.

A lot gets lost in translation, but they seem to serve the crypto community via no less than 84 active markets, including a limited number of currency pairs, predominantly crypto-to-crypto currency pairs. A FatBTC exchange review also reveals that they offer a market maker program for professional traders, including free trading via the FatBTC API. It comes in the form of 1 zero trading fee account and in order to qualify for this, a trader needs to bring in or generate at least $100k in volume on average per day.

It is also revealed by a FatBTC exchange review that they reserve the right to delist a trading pair if it will help to protect their users. For example, they will delist a trading pair if there are major legal issues negatively impacting a project, when there are serious technical and security issues, when the team behind a project gets disbanded, when average trading volume is less than $1000 per day over 30 consecutive days, etc.

In addition, they seem to give 3-day notices prior to delistings. They also provide users with a 30-day window in which they can withdraw delisted cryptocurrencies or digital assets. This while they will only consider closing a withdrawal channel after 60 days.

FatBTC’s Chinese origin can be a disadvantage in two ways: first is that its English customer service may not be as good, and second is that considering the legal debate surrounding cryptocurrencies the exchange might be subject to certain regulations in the future. There are two currencies created and supported by the exchange: FCNY and FAT. FCNY represents the Yuan and is similar to USDT, which is backed by fiat US dollar. As for FAT, currently it’s being traded against several altcoins however, there is not anything else to it for now. As it mostly targets local traders, it is not as popular globally, though it is seemingly open to any broker from anywhere around the world. Their multi-lingual website interface proves that they have worked on being user-friendly. 

For security, FatBTC seems to use the HTTPS protocol. 95% of brokers’ coins are stored offline and a two-factor authentication system is additionally used to provide maximum security for the user. There has not been any reported activity suggesting a security breach, hence the exchange remains pretty secure in reputation however, an exchange review reveals that it is vulnerable to hacking. Most users keep their coins in private, personal wallets.