BitexBook is this a scam? Review and Customers Reviews

BitexBook – is a young platform for cryptocurrency tradingwhich appeared on the financial market in 2017. The main goal of the project is to provide quality services in the field of cryptocurrencies through a professional staff.

In our review, we will take a closer look at the main features implemented by the project and find out if BitexBook is a scam or a reliable exchange for the trade.

 

Why BitexBook?

BitexBook is a young exchange, which fully launched its project more than a year ago. The exchange platform belongs to StreamCapital Group LTD, which has been operating on the market since 2017. At the moment more than 54,000 users are registered on the exchange. Website bitexbook.com is presented in both English and Russian languages, which indicates the targeting of the CIS countries’ residents. The main office is located in St. Vincent and the Grenadines, where the project is regulated.

The project provides its clients with favorable conditions for cooperation. The listing includes several cryptocurrencies – VTN, ETN, VSN, BTG, etc., as well as fiat funds – RUB and USD. The peculiarity is that formed currency pairs can be both purely cryptocurrency, and cross-currency. Also soon on the site is planned to introduce margin trading with a leverage up to 1:20 (How to Make Money on Cryptocurrency?).

Exchange in many ways is similar to its competitors, but there are a number of distinctive features. So, the company offers its users such a function as BitexCodes. BitexCode is an internal payment system of the exchange, which allows you to send funds to other users and not to pay a fee for the operation. It is also possible to transfer to other payment systems through exchangers.

Trading is done through a simple and intuitive platform. An experienced trader will need no more than 15-20 minutes to understand the basic functionality of the platform. A beginner, on the other hand, will need more time to understand all of the presented functionality, as the website bitexbook.com There is no training or instructions. The distinctive feature is that the terminal can be adapted to you by changing various pointers and indicators. It helps to create a personal trading strategy. The terminal itself consists of several components:

• the selected trading pair;
• basic information on the trading pair;
• the possibility of switching to a dark theme;
• schedule setting;
• the chart of the selected trading pair;
• bidding history;
• active orders.

In order for users to have constant access to the trading platform, a mobile app was created. The smartphone app is a great option for those users who cannot have access to a desktop computer or laptop 24/7. Using the phone, the trader gets almost full access to the functionality of the service. An Android version is available, and an iOS version is in development.

The main advantages of BitexBook are:

• security;
• Russian version of the site;
• favorable conditions for cooperation;
• intuitive platform;
• 24/7 online user support;
• fiat availability;
• quick verification;
• support for bank cards.

 

How to exchange cryptocurrency on the platform bitexbook.com?

The peculiarity of the company is that the site has a simplified cryptocurrency exchange, the principle of which is identical to the exchanger. The section has a simplified design and is suitable for those customers who want to simply exchange assets with a minimum amount of time. To exchange currency, you just need to select the required parameters (currency to exchange and currency to receive) and click on the “Exchange” button, after which the funds will come to your account. Often the receipt is instantaneous.

 

Verification on BitexBook platform

Verification is not a mandatory process for exchange customers and provides a number of benefits. A total of 3 verification statuses are provided:

• Anonymous. Recharge up to $ 1000 per month, one-time deposit – not more than $ 200. Replenishment and withdrawal WebMoney etc..
• Basic. Replenishment up to 5000 dollars a month, one-time replenishment – not more than 500 dollars. Replenishment and withdrawal WebMoney and etc. + withdrawal Visa/MC;
• Verified. Replenishment without restrictions, one-time replenishment – not more than 5000 dollars. Deposit and withdrawal WebMoney and etc. + Visa/MC deposit and withdrawal, WireTransfer withdrawal.

To proceed to profile verification, select “Verification” at the top of the site, decide on the status of confirmation and fill in the necessary data. To get a basic level, the user needs to fill out the following information:

• email;
• first and last name;
• date of birth;
• country and city of residence;
• address;
• language.

Next, the client needs to upload documents:

• Scan of a personal document (passport, driver’s license, etc.);
• Scan of your utility bill (not older than 6 months) or your passport registration to confirm your address.

To get the status of a fully verified profile, you need to get a basic and upload a photo of yourself with your passport in hand.

 

Deposit and withdrawal

You can replenish your balance in two ways – with cryptocurrency and fiat money. To enter cryptocurrency, you need to perform a few simple actions:

• choose the necessary cryptocurrency;
• click on the “Get Wallet Address” button;
• open the line with the address of the digital wallet, which is necessary to copy or scan the QR code;
• paste the copied address into the “Recipient Address” field and wait for the funds transfer.

To replenish your balance with fita funds, you need to do the following steps:

• choose the right fiat;
• select payment system;
• enter the required amount of transfer;
• log in to the account of the payment system and follow the instructions to transfer funds.

You can refill the balance by using:

• Visa, MasterCard.
• Electronic wallets.

Withdrawal of funds

To withdraw your earnings, you need to click on “Withdrawal” in the same “Finance” tab and fill out the data against the selected cryptocurrency:

• specify the amount of coins to withdraw;
• enter the wallet address or number bank card for the transfer of funds;
• click the “Request Withdrawal” button and wait for the funds to be transferred.

To withdraw fiat money, you need to do the same steps and choose a payment system for crediting funds from the selection presented:

• Bitexcode;
• Visa, MasterCard;
• Electronic wallets

Cryptoexchange Commission

The service works according to the “maker-staker” scheme. The commission directly depends on the trading volume for the last 30 days. Thus, the following tariffs for takers are valid:

• ≤ 5 – 0.25%;
• ≤ 30 – 0.24%;
• ≤ 50 – 0.23%;
• ≤ 100 – 0.22%;
• ≤ 200 – 0.21%;
• ≤ 1000 – 0.20%;
• ≤ 3000 – 0.18%;
• ≤ 6000 – 0.16%;
• 6000 – 0.15%.

At the moment for the maker the commission is 0% in any case, but after the expiration of the action the commission will be 0,1%. Also there are additional commissions on withdrawal of funds which depend on the chosen payment system. The commission varies from 0 to 5,5%.

 

BitexBook bonuses

From time to time for its customers the company conducts various promotions and accrues bonuses.

Referral program

Also, a referral program has been developed for active users who want to earn extra income. A total of 2 levels are provided, within which clients can receive up to 80% from the exchange commission. The amount of remuneration depends directly on the trading volume:

• up to 5 VTS – 50% for level 1 and 10% for level 2;
• 5 to 10 VTS – 52% for level 1 and 12% for level 2;
• 10 to 20 VTS – 54% for level 1 and 14% for level 2;
• 20 to 50 VTS – 56% for level 1 and 16% for level 2;
• 50 to 100 VTS – 58% for level 1 and 18% for level 2;
• from 100 VTS – 60% for Level 1 and 20% for Level 2.

 

Complaints about BitexBook

Since the platform has been functioning successfully for more than two years, you can find quite a large number of reviews from users on the Internet. In general, the company has a positive reputation. From the pluses, customers note a wide range of functionality, a large number of innovative ideas, and high-quality feedback. However, there are also shortcomings in the form of a weak listing, not very attractive design of the project.

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Crypto exchange regulation

The financial sphere is quite popular among fraudsters. To exclude the negative experience of cooperation with an unscrupulous project, you should carefully check the availability of the license and relevant documentation on the project website. On the site bitexbook.com There is no evidence that the organization has any licenses. Contact information, head office location, and required documentation are publicly available to all users.

Documents from bitexbook.com:

• “Read the “Privacy Policy” on the Exchange website” (See);
• “Read the “User Agreement” on the site of the exchange BitexBook” (See).

User Agreement bitexbook.com

The “User Agreement” is the main document of the exchange, which every client should get acquainted with before starting cooperation with the company. It contains the rules of cooperation, as well as obligations of users and organizers. The advantage is that the document is presented in Russian. Let’s consider some points in more detail.

The agreement says that the service reflects on the site the rate on the basis of which the transactions are made and that such a rate is set by the users themselves. The service has no influence on the rate chosen by clients, does not give recommendations on the determination of the rate and does not make forecasts. The user bears all economic risks connected to the choice of this or that rate. The organizer does not guarantee to the user that the deal will be made and that the terms of such a deal will be beneficial for him.

The user also understands and accepts the fact that the service has nothing to do with the execution of transactions and/or transactions with cryptocurrencies and therefore does not assume any guarantees regarding the timing and/or possibility of transactions and/or transactions with cryptocurrencies necessary for the execution of transactions. The Client understands that any transactions with cryptocurrencies are irreversible and that the return of the received transaction is possible only on the basis of an additional agreement with another user.

If the user violates the terms of the agreement or in case of collusion with other clients to violate the terms of the agreement, the company has the right to block or delete the user’s personal account, prohibit or limit access using the user’s personal account to some or all of the system functions. If the fact of violation of the agreement’s clauses is revealed, the organizer has the right to delete the client’s personal account and demand compensation for losses.

The Organizer is not responsible for the performance of the site and/or the system and does not guarantee its uninterrupted operation, and also does not guarantee the safety of the information placed on the site and/or in the system and the possibility of uninterrupted access to the information about orders and performed deals, the possibility to publish orders and make deals.

The user uses the site and the system as presented at his/her own risk. The company does not guarantee that the customer will achieve any results as a result of using the site and/or system. The service does not guarantee that the site and system meet the user’s requirements or that access to the site and/or system will be uninterrupted, fast, reliable or error-free.

The Organizer has the right to unilaterally change the terms of the agreement, privacy policy, anti-money laundering policy, tariffs and the offer. At the same time, such changes come into force after three days from the date of publication of the new version of the relevant documents.

Customer Service

You can use the following options to contact support:

• email: [email protected];
• Ticket.

 

Is BitexBook a scam?

BitexBook is a fairly young exchange, which appeared on the market in 2017. During this period the project was able to gain popularity and attracted the attention of more than 50,000 users. The service is mainly focused on the residents of the CIS countries. The site is presented in English and Russian. The headquarters is located in Saint Vincent and the Grenadines, from where the organization is regulated.

The project provides users with favorable conditions. In the listing of the exchange there are several types of cryptocurrencies – VTS, ETN, VSN, BTG, etc., as well as fiat funds – RUB and USD. In the near future, the platform promises to introduce margin trading with a leverage up to 1:20. The trading process itself is implemented through a simple and intuitive platform. Traders have a large number of different instruments, charts and signals at their disposal.

The organization provides various bonuses for its clients. Also, an affiliate program was developed for active users who want to earn passive income. In order for users to have constant access to the trading platform, a mobile application was developed. At the moment there is a version for Android, and a version for iOS is in development. The company has been on the market for more than two years, so a considerable amount of feedback from users can be found on the Internet. In general, the platform has a good reputation, although there are a number of shortcomings. Having studied in detail the opportunities that the project has implemented, can we conclude that BitexBook is a scam and swindlers? No, because the organization successfully provides its services to users.

 

Conclusion

BitexBook – is a relatively young exchange that provides customers with the ability to trade cryptocurrency. For two years of its existence, the project has attracted the attention of more than 50,000 users. The main clients of the organization are traders from the CIS countries. The platform provides its clients with favorable conditions for trading.

However, the process of trading itself is quite risky and some users can not soberly assess all the risks. That is why you should carefully study the documentation before starting cooperation. Now the platform looks good among competitors, but there is still work to be done. If you were or are a client of the service, leave your impressions about the company’s work on our website to form an independent rating of cryptocurrency exchanges.