BTCmarkets is an Australian cryptocurrency exchange, which is primarily aimed at the domestic market, and therefore supports the AUD currency. Bitcoin and other BTCmarkets alternative coins are available as the digital currencies, such as LTC, ETH, XRP, BCH, BPAY.
Where is BTCmarkets located? The company is located in Melbourne, Australia. The official site is www.btcmarkets.net. BTCmarkets reviews only English version of the site.
Is BTCmarkets legit? The Australian government is just working on creating structures that will register cryptocurrency exchanges, so this site hasn’t been registered yet.
We continue our BTCmarkets review and now let’s talk about commissions. The fees for trading between Cryptocurrency and Fiat depends on the volume of trades:
The BTCmarkets fees are 0.22% for trading between cryptocurrencies. The deposit is free, but there is a commission for withdrawal of funds. For Australian residents all fees include GST. BTCmarkets limits the minimum deposit, which is 1$.
Is BTCmarkets safe?
To answer the question “Is BTCmarkets safe?”, let’s take a look at the precautions that the site gives uses to ensure the security of the BTCmarkets wallet.
To store users’ funds, there is a cold wallet and hot wallet system. Also, if you have your BTCmarkets login, it is advisable to activate 2FA; it will help to reliably protect your account from hacking. And despite the fact that the exchange is not regulated yet, there is verification. There were no cases of BTCmarkets down.
In general, the reviews about this exchange are very different, some consider it reliable and convenient to use, others suspect BTCmarkets scam.
How to use BTCmarkets? In order to start working with your wallet, you need to register on the site. To do this, click the “Create Account” panel.
After you deposit, you can use either the BTCmarkets wallet or the already known blockchain wallet for storing Bitcoin or electrum for Litecoin.
How to buy on BTCmarkets? On the website, you can see available cryptocurrency pairs, view the order book and place a buy or sell order. When you place a Limit Order, you specify the price for which you want to buy or sell. Your order will be added to the book and will wait until another user places the suitable order.
If you have any questions, you can look at the FAQ tab, perhaps there you will find the answer you need. If you didn’t find it, you can contact BTCmarkets support at this address [email protected]. The work time is Monday – Friday (8 am – 8 pm). BTCmarkets phone number is absent.
Now let’s sum up our BTCmarkets review 2018. You can start using this exchange right now, or you can suspect BTCmarkets fraud. It’s only your decision. Let’s notice all the pros and cons of this exchange:
- Large selection of currency pairs;
- Supports AUD;
- Use a cold wallet to store funds.
- No margin trading;
- Low liquidity;
- Relatively high commission.