Bitrue
⭐ Trust Score: 8/10
🏆 Arbi.TEAM 7/10
📋 Basic information
📊 Trading statistics
📖 About exchange
ℹ️ Bitrue — a centralized cryptocurrency exchange founded in 2018. It was initially based in Canada, and now its main offices are located in Singapore (BITRUE SINGAPORE PTE. LTD), while its headquarters is registered in the Seychelles. The exchange positions itself as a global trading platform that originally gained recognition due to its strong specialization in XRP and close partnership with the Ripple ecosystem. The platform actively operates in Asian and US markets.
🪙 Trading Products and Tools
Bitrue offers traders a basic yet sufficiently comprehensive set of tools, including opportunities for passive income. The exchange emphasizes convenience and accessibility, including the integration of trading bots.
Spot Trading
259 cryptocurrency pairs with base assets BTC, USDT, XRP, and ETH
Margin Trading
Available with cross-margin, but maximum leverage is not specified
Passive Income
Staking programs (including dual-currency BTR Lockups) and USDT lending
Spot Trading: The main focus. According to CoinMarketCap, the most liquid pairs are XRP/USDT ($248.24M), BTC/USDT ($212.52M), and ETH/USDT ($153.95M).
Automated Trading (Bots): The platform supports connecting trading bots via API for strategies like arbitrage, trend-following, scalping, and others.
Power Piggy and BTR Lockups: Two staking programs that allow earning passive income from holding cryptocurrency.
Futures: The platform supports futures trading. Specific conditions (maximum leverage, contract types) require clarification on the website.
🔐 Security and Support
Bitrue's security is a nuanced issue. The exchange implements standard protective measures and reimbursed funds after an incident but maintains problems with regulation and transparency.
Protection Measures
- Standard measures: two-factor authentication (2FA), data encryption.
- Historical Hack: In 2019, hackers stole 9.3 million XRP and 2.5 million ADA (approximately $4.5 million). All affected funds were fully reimbursed by the exchange.
- Legal Transparency: The user agreement may lack clear indication of the legal entity responsible for obligations, complicating user rights protection.
Regulation
Licenses and oversight are absent. Despite operating in regulated jurisdictions (Singapore), Bitrue does not hold an official license from financial regulators. This means there is no insurance deposit to protect client funds and no official mediator for dispute resolution.
Support
Available via a ticketing system. Support languages: English, Spanish, Korean. Interface languages include English, Spanish, Arabic, Indonesian, Korean, German, Polish, French, Japanese. There are no reviews regarding support speed and quality in the provided sources.
💳 Deposits and Withdrawals
Bitrue provides several methods for working with fiat, which is convenient for beginner users.
Verification (KYC)
Required for full use of the platform (trading, withdrawals). Specific levels and requirements are not described in the sources; it is indicated that verification is "dependent".
Account Funding
Fiat: Via Visa/Mastercard bank cards in USD, EUR, GBP, CHF, MXN, HKD, AUD, SGD.
Cryptocurrency: Deposits in Bitcoin and other cryptocurrencies.
Withdrawals
Fiat: Possible to Visa/Mastercard cards.
Cryptocurrency: Withdrawals in Bitcoin and other assets. Specific fees and limits require clarification on the official exchange website.
👍 Pros and Cons
Based on an analysis of official information and data from an independent review, the platform's strengths and weaknesses can be highlighted.
Advantages
- ✅ Specialization in XRP: One of the leading exchanges by XRP trading volume, a large number of trading pairs with this coin.
- ✅ Bot Integration: Support for automated trading via API for various strategies.
- ✅ Accessible Fiat On-Ramp: Card deposits in multiple currencies.
- ✅ Reimbursement After Hack: Compensated user losses after the 2019 incident.
- ✅ Native BTR Token: Its use reduces trading fees and grants access to exclusive staking products.
Disadvantages
- ❌ Lack of Licenses: Not regulated by financial authorities, no deposit insurance protection.
- ❌ History of Hack: Security compromise in 2019, although funds were returned.
- ❌ Limited Product Range: Compared to the largest exchanges, offers fewer tools (no demo account, tokenized funds).
- ❌ Legal Uncertainty: Vague wording in the user agreement regarding the responsible legal entity.
💡 Tips for Beginners
Complete Full Verification (KYC)
Do this immediately after registration to remove all withdrawal limits and avoid future delays.
Activate 2FA
Always enable two-factor authentication for login and withdrawals, considering the platform's security history.
Start by Exploring XRP
Utilize the exchange's main advantage — high liquidity for XRP pairs. This can ensure better spreads and order execution.
Familiarize Yourself with BTR
Learn the benefits of the native BTR token. Holding it can significantly reduce trading fees.
🌐 Interface and Accessibility
Interface: Supports English, Spanish, Arabic, Indonesian, Korean, German, Polish, French, and Japanese languages. According to current data, the Russian interface language is not supported. Desktop version and mobile apps for iOS and Android are available.
🌏 Restricted Countries and Territories
The provided sources do not contain a complete and current list of prohibited jurisdictions. The exchange's user agreement may specify restrictions for residents of the USA and other countries. Verification on the official Bitrue website is required.
Important Note: Due to the lack of clear regulation and the declared headquarters in the Seychelles, the legal status of using the platform in your country may be ambiguous. Before registering, it is strongly recommended to independently study the legal terms section (Terms of Use) on the Bitrue website.
💱 Reliability Analysis of Bitrue for Arbitrage Operations
Bitrue is an exchange suitable for cryptocurrency arbitrage. In favor of this, we can cite the following facts based on our trading experience:
✅ Cryptocurrency is most often credited without significant delays.
✅ There is a sufficient number of trading pairs on Bitrue, making it an active participant in our scanner.
✅ You can almost always buy/sell an asset on the exchange at the market price.
✅ Possibility to withdraw USDT with a small commission on the BSC network. At the time of writing: 0.2 USDT.
✅ Low trading volumes; sometimes a coin's price remains unchanged for a long time. This allows time to thoroughly analyze the situation and initiate arbitrage.
Among the disadvantages of the Bitrue exchange, we can highlight the following:
❌ Relatively high withdrawal fees for some assets.
❌ Deposit/withdrawal delays sometimes occur, which can negatively affect the outcome of trading.
❌ A large number of deposit confirmations is required for many networks. For example, at the time of writing, tokens on the Ethereum network are credited after 64 confirmations (on average 13-15 minutes), Monero (XMR) – about 5 hours.
❌ The exchange does not provide data on the number of confirmations required for a coin to be credited. Consequently, it is impossible to predict how long a successful crediting will take.
⚠️ Important Note: Our scanner only has historical data on the number of deposit confirmations obtained during real trading using a cryptocurrency arbitrage strategy. We must note that this data is not entirely reliable, as the exchange can change the number of confirmations at any time.
📈 Summary. We use the Bitrue exchange to conduct arbitrage trades, but it's important to remember the risks of platform coin delays and to be extremely careful.