Bitrue Review

Competitive fees, futures trading, and a large number of supported crypto

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Bitrue

Bitrue

Investopedia’s Rating
4.6

Our Take 

Bitrue is a cryptocurrency exchange and financial platform with advanced trading features and opportunities to earn interest through several staking and investment programs. The combination of offerings is best for intermediate to advanced cryptocurrency users looking for active trading, futures, lending, and high-yields for staking.

  • Pros & Cons
  • Key Takeaways
  • Specifications
Pros & Cons
Pros
  • Trade more than 250 different cryptocurrencies at current market prices

  • Earn rates as high as 100% from yield farming and investments

  • Competitive trading fees

Cons
  • Not a top-50 exchange by volume, indicating lower liquidity

  • Yield farming and investment products are high-risk

  • History of losses due to security breach

Key Takeaways
  • Bitrue provides several products to those interested in investing in Bitcoin and other digital currencies.
  • Futures trading offers advanced users high-risk, high-return opportunities.
  • A lengthy list of currencies to earn from yield farming, investing, and lockups.
  • Lower trading fees than some large industry competitors.
Specifications
  • Year Founded 2018
  • Official Website https://www.bitrue.com/
  • Cryptocurrencies Available 188
  • Customer Support Help page, ticket, email

Unlike traditional brokerage firms, cryptocurrency exchanges are not members of the Securities Investor Protection Corp. (SIPC). Therefore, unless user terms specify otherwise, investors with cryptocurrency assets commingled on a custodial cryptocurrency exchange could potentially lose their funds as unsecured creditors.

Pros Explained

  • Trade more than 250 different cryptocurrencies at current market prices: Several hundred cryptocurrency assets are supported for spot trading.
  • Earn rates as high as 100% from yield farming and investments: Earn up to 100% APY interest from investment products for supported currencies.
  • Competitive trading fees: Spot trading fees are set at 0.32% or less.

Cons Explained

  • Not a top-50 exchange by volume, indicating lower liquidity: Some currencies on this exchange see less liquidity from lower trading volumes.
  • Yield farming and investment products are high risk: There is a possibility of losing your entire investment when staking cryptocurrency.
  • History of exchange losses due to security breach: The exchange was hacked in 2019, with more than $4 million stolen.

Introduction

Bitrue is a cryptocurrency trading and investment company with a range of financial products for crypto enthusiasts. Bitrue offers cryptocurrency services, including an active trading platform, futures trading platform, loans, and high-interest yield farming and staking.

With a Bitrue account, you can trade over 200 different cryptocurrencies at market prices with reasonable exchange fees. While it isn’t the biggest cryptocurrency exchange around, a large listing of supported currencies paired with advanced trading and investments makes it a good choice for many crypto investors.

Investing in cryptocurrencies, Decentralized Finance (DeFi), and other Initial Coin Offerings (ICOs) is highly risky and speculative, and the markets can be extremely volatile. Consult with a qualified professional before making any financial decisions. This article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies nor can the accuracy or timeliness of the information be guaranteed. 

Company Overview

Bitrue is a cryptocurrency exchange and cryptocurrency financial products company founded in 2018 and based in Singapore. Odds are you live somewhere that’s supported by the company. Customers have access to an impressive list of currencies for spot trading, plus several advanced products.

Newer users can buy and sell easily with the simple cryptocurrency purchase form. However, the site is built around products that are best for those with experience in crypto or other active trading markets.

While Bitrue employs strong security practices today, it’s been hacked in the past. The company paid the difference so customers wouldn’t experience any personal losses, but this could be a red flag that leads you to hold your digital assets on another exchange.

Cryptocurrencies Available on Bitrue

Bitrue supports several hundred coins on its platform, which is a large number compared with some industry competitors. This exchange offers its own currency, Bitrue Coin (BTR), as well.

Holding and using Bitrue Coin may qualify you for lower fees or more favorable interest rates.

Here’s a partial list of the top currencies traded on Bitrue by volume:

  • Bitcoin (BTC)
  • XRP (XRP)
  • Ethereum (ETH)
  • Cardano (ADA)
  • Solana (SOL)
  • TRON (TRX)

Trading Experience

Using a simple purchase form, you can buy and sell supported cryptocurrencies with a bank account. There are no transfer fees for moving funds via ACH and a low 0.08% starting trade fee for direct purchases from a bank account. You can also make purchases with a card through a partnership with processor Simplex, but there’s a fee of 3.5% per transaction or $10, whichever is greater.

Bitrue
The web-based active trading platform at Bitrue.

Once you’ve funded your account, you can continue using the simple trading form or switch to the active trading platform. The active platform is web-based and includes advanced charts, depth charts, recent trades, outstanding orders, and a quick trading form. Only market and limit order types are supported.

The futures trading platform looks very similar but works with an entirely different product. Due to leverage and the risk of losses, futures trading is not suitable for beginner investors.

Bitrue
A screenshot of the Bitrue futures trading platform.

Unlike competitors, Bitrue doesn’t use a purely centralized or decentralized model. The main exchange is centralized, but other services on the platform rely on decentralized finance (DeFi) technologies.

Fees

Standard trading fees at Bitrue are competitive. If you hold Bitrue Coin and use it to pay for fees, you get a 30% discount on trading costs. Overall, these fees are a bit lower than the starting fees you would pay with many large competitors, but they’re not the very lowest fees you can find.

Currency Pair Trading Fee  BTR Trading Fee 
XRP/BTC, XPR/USDT, XRP/ETH 0.20% 0.14%
Other BTC, ETH & USDT trading pairs  0.098%  0.0686% 
XRP Trading Pairs  0.280%   0.196% 
Other Trading Pairs  Up to 0.32%  Up to 0.224% 

Bitrue also charges withdrawal fees when sending cryptocurrency to another exchange or wallet, although fiat withdrawals to your bank account are free. You may run into additional fees for specific account needs that are less common, such as international wire transfers.

Security

Bitrue currently employs strong security practices, including two-factor authentication, cold wallet storage for customer assets, account lockouts, and emailed safety codes in every communication from Bitrue. It holds a dedicated insurance fund of 38 million XRP and 40 million BTR to reimburse users in the event of any future hack that’s Bitrue’s fault.

However, one major past security breach tarnishes this exchange’s reputation. In 2019, cybercriminals took over $4 million in cryptocurrency funds from Bitrue, Ripple and Cardano wallets. Bitrue covered the losses, so customers didn’t lose any funds, but the breach is still important to note.

Opening a Bitrue Account

The signup process at Bitrue is simple and easy to follow. You start by registering a new account with an email address and password. As with all online accounts, it’s best to use a unique password that you don’t use anywhere else. This is especially true for financial accounts.

Bitrue is not available in China, Texas, or New York State. This exchange also requires identity verification steps to use all account features.

Customer Service

Bitrue’s main customer support resource is an extensive help page, with several FAQs and explanations of how various Bitrue products work. For more help, you can reach support through email with a help ticket system. Like most crypto exchanges, Bitrue should be considered a self-service platform, as customer support options are fairly limited.

Bitrue earns average reviews from past users. On Trustpilot, for example, it holds an average 2.5-star out of 5-star rating across more than 150 reviews. Among negative reviews, complaints focus on lost funds, frozen accounts, and poor customer service responses. Positive reviews mention Bitrue’s reliability and ease of use.

Account Management

Bitrue users can manage their accounts through the Bitrue website and mobile apps. If you’ve ever used an online stock trading account, you will likely find Bitrue offers a similar overall experience.

Once logged in, users can make basic account updates, add and withdraw funds, and access pages and apps to buy, sell, trade, and invest digital assets.

How Bitrue Compares to Other Cryptocurrency Companies

Bitrue is part of a crowded industry of cryptocurrency exchanges. Here’s a comparison of Bitrue vs. Coinbase, a market-leading exchange:

Bitrue vs. Coinbase
  Bitrue Coinbase 
Number of Currencies (Spot Trading) Over 250 Over 150
Spot Trading Fees  0.098% to 0.32%  Up to 1% (Coinbase) or up to 0.60% (Coinbase Pro) 
Staking/Interest Rates  Up to 100% APY  Up to 5% APY 
Order Types  Market, Limit  Market, Limit 
Additional Features  Futures, lending with crypto as collateral, high-yield earning  Basic and active trading platforms, standalone cryptocurrency wallet, learn and earn program, lending with crypto as collateral 
Headquarters  Singapore  United States 

Read our full Coinbase review.

Final Verdict

With a suite of active and advanced cryptocurrency trading features, Bitrue could be a good choice for many crypto users worldwide. Low fees and a long list of supported currencies are a major draw, as are staking and yield farming features where you could earn as much as 100% APY.

While Bitrue has mediocre customer reviews and has been hacked in the past, the overall combination of products and services is optimal for many intermediate to advanced crypto users looking to boost their yields and access new coins and tokens. If that sounds like you, Bitrue could be worth checking out.

Methodology

Investopedia is dedicated to helping those interested in cryptocurrency investing make informed and safe decisions. We are committed to providing our readers with unbiased reviews of the top cryptocurrency exchanges for investors of all levels.


Exchanges were reviewed on points including security, fees, number of cryptocurrencies available, and more. We also considered if the exchange is regulated by a proper agency or entirely decentralized. Our full cryptocurrency exchange methodology, including the review process and weighted data points, is available for review.

Article Sources
Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy.
  1. Bitrue. "Yield Farming."

  2. Coindesk. "Singapore Exchange Bitrue Hacked for Over $4 Million in Crypto."