Birake

Birake – is a decentralized crypto exchange (DEX), launched in 2018. It allows you to exchange cryptocurrency and create your own platform for trading digital assets. There are four pricing packages to choose from. The site is not overloaded with information. There are answers to popular questions, information for companies that want to open their own exchange on the Birake platform, links to social networks and a feedback form. The trading terminal is located at trade.birake.com. In addition to trading, the platform has information about commissions, terms of service, and a link to a form to create a ticket. In this review, let’s find out how reliable it is and whether Birake is a fraudulent scheme.

Why Birake?

Birake is a decentralized crypto exchange that uses DEX technology, which is safer than any centralized platform. Birake is an exchange for trading and a platform for companies who want to launch their own cryptocurrency exchange terminal. No technical knowledge is required, all you have to do is promote your own platform.

Birake’s mission is to offer exchange owners and network users a large database and achieve high trading volumes. It connects platforms to its network and shares orders and digital assets between them. This gives platform owners the flexibility to include their own brand logo and personalize their exchange. The Birake Network is a central order database used by all exchanges in the network. Similarly, buyers access multiple platforms simultaneously through the network.

The DEX trading engine is designed to compare deals efficiently. Buyers and sellers place orders and find out the best prices. The order book contains information about all active orders in the network. This makes new exchanges as fast as possible. Wallets using DEX are completely isolated from the platform. All cryptocurrencies in the network Birake are openly distributed among the platforms. The company’s advantages include:

• high level of security;
• the ability to create your own exchange for cryptocurrency trading;
• deposits without commission;
• a simple trading terminal;
• a convenient site that is not overloaded with information.

How to exchange cryptocurrency on the platform bireik.com?

The company has developed a convenient and easy-to-use trading terminal. In it, you can select currency pairs for exchange, see the chart, find out the latest price, 24-hour change in the value of coins. There is also a book of orders, information about transactions and open orders of the user. There are fields for buying and selling selected coins. In them, the price and quantity are entered. After registration, the user will have access to information about his transactions, deposits and withdrawals, verification of the account (crypto exchanges without verification).

Birake offers 4 different business models for starting an exchange cryptocurrency. You need to choose a package that fits your business model. Once the request form is submitted, you will receive an email with all the information to make a partnership. Rates:

• Personal 1 (290,000 BIR) – 1 free coin listing, trading fees: 30% client, 70% exchange.
• Personal 2 (1,150,000 BIR) – 3 free listings, trading fees: 50%, 50% .
• Business 1 (2,300,000 BIR) – 5 free listings, trade fees: 60%, 40%.
• Business 2 (3,450,000 BIR) – 8 free listings, trade fees: 70%, 30%.

Each package includes support, KYC verification, ZeroFee accounts, and a general order book. There are already about 100 coins in the listing of any of the plans. With the exchange platform from Bireik no need to worry about technical implementation, servers, hosting, customer support, development, security. All this will be supported by bireik.com. After choosing the tariff and signing the contract, you will have access to a demo trading platform, which you can set up yourself. It will have your domain, logo, etc. Bireik also offers to add your coin to the listing. To do this, you have to fill out a form on the site. Benefits:

• The coin will be listed on several exchanges with the same initial price.
• The new cryptocurrency will be announced in the community of each platform on the network.
• The coin will have clear exposure in all markets.
• Currency will be visible to a large number of buyers and sellers.

The trading volume will be increased by listing on several exchanges simultaneously. The Birake network will accumulate volumes from all of its platforms, resulting in a much higher volume than trading on one.

Verification on the birake.com platform

To start working with the exchange, you must go through the registration procedure. To do this, you must specify your login, e-mail and password. To be able to trade and withdraw funds, the service requires verification. To confirm your account, you must go through the following procedures:

• Proof of identity. You can provide a passport, a driver’s license, a letter from a recognized government agency, or an employee identification card from a registered company.
• Proof of address – passport, electricity bill, telephone bill not older than 6 months, bank statement or credit card. The rent agreement and a receipt for the last three months.

There is a “Verification” page in the settings section of the personal cabinet, which describes the conditions of the procedure and has a “Start KYC” button.

Deposit and withdrawal

After registering on the site, a “Deposit/Withdrawal” section will appear on the trading platform. Depositing is available in one of the coins which are listed in the listing. It is necessary to select the currency to see the deposit fee, the minimum amount to deposit and the address to which the funds should be transferred. To withdraw money, you have to go to the same section and use the “Withdraw” button, selecting the desired cryptocurrency. Withdrawal of funds is available only after verification of the account.

Cryptoexchange Commission

There is no commission for depositing an account. For order placement will be charged 0.15%. Commission for withdrawal of funds is standard – 0.00001 BTC. It is calculated once a day based on the last price in BTC. The commission will be deducted from the withdrawal amount after it is processed. For convenience, commissions for different cryptocurrencies are listed on the website.

Birake bonuses

There is no information about bonuses or a loyalty program on the site. The exchange offers a referral program under which clients can receive remuneration for attracting users. But there are no details on the site about the amounts and conditions.

Complaints about Bireik

There are almost no reviews on bireik.com. I could not find any Russian-language comments on the web. There are only a few neutral reviews of the company. Customers give it a score of 3 out of 5. The pluses include the user-friendly interface, small commissions and decentralization. There are also comments about the available commissions and a large number of cryptocurrencies. The only disadvantages are the lack of reporting and low liquidity.

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Regulation of the Birake crypto exchange

Because there are a lot of crypto exchanges in the network, it is difficult to choose one of them. Among such variety there are both honest companies and fraud schemes. Therefore, it is necessary to study all information about the exchange before you start working with it. You can do this on the company’s website, reading the user agreement and other documentation. You can also check the license.

Regulator

Information about the license on the website birake.com no. Only the conditions of use are published.

Read the “Terms of Use” of Birake.

birake.com User Agreement

You can read the document in the “Terms of Use” section. It publishes several points that are studied before you start cooperating. There is information about risks, participation rights and account. It is described how to create an account, use an account, why an account can be blocked and deleted.

There is also a clause stating that you can create your own White Label platform. User obligations, transaction processing, failures, fees and costs are described.

Customer Service

You can contact technical support by e-mail at [email protected], through the pages on social networks Twitter, Facebook, in Telegram. The site also has a feedback form. From the trading terminal you can go to the page “Support”, which has a form to create a ticket to contact the technical support.

Is Birake a scam?

Birake – decentralized crypto exchangewhich began its work in 2018. Its peculiarity is that it offers not only cryptocurrency trading, but also the opportunity to create its own platform for the exchange of digital assets. The site contains the necessary information to get started, data on commissions, conditions of use. The trading terminal is convenient, its interface is intuitive. Commissions are small, the client is not charged anything for depositing the account. The company does not have any bonuses. There is a referral program, but there are no details about it. Having studied the exchange and the reviews about it, we can conclude that Birake – it is not a scam. It is convenient for those who want to exchange cryptocurrency, and for those who are going to create their own platform for trading.

Conclusion

Birake – crypto exchange, which offers trading of many coins and creation of its own exchange platform, for which there are 4 tariffs to choose from. The exchange has a convenient trading terminal and small commissions. The pluses include the decentralized nature of Birake. But reviews of the company are few. If you have used its services, leave your comment below, so that other readers can objectively evaluate its work.