BitUBU is this a scam? Review and Customers Reviews

BitUBU – is an exchange for trading digital assets, which began its activities in 2019. During this period of time, the project has gained popularity and has become one of the major venues.

In our review, we will take a closer look at the opportunities the company provides and find out if BitUBU is a scam or a reliable cryptocurrency exchange.

 

 

Why BitUBU?

BitUBU is an exchange for cryptocurrency tradingwhich appeared on the Internet less than a year ago. During this period, the project has attracted the attention of users around the world. Interface of the official site bitubu.com translated into 13 languages, which indicates the orientation towards the international market. The main office of the company is located in Turkey, from where the organization is regulated.

The exchange provides its clients with comfortable and favorable conditions for cooperation. Traders have the opportunity to trade with 17 coins and 25 trading pairs. Trading is carried out with the main types of Cryptocurrencies: BTC, ETH and USDT. The exchange also has its own token called UBU – the ERC-20 token, which operates on the Ethereum blockchain. The token is generated in the form of rewards for mining trades. The transaction level is 0.1% for all transactions. Each customer can receive a certain amount of token as a trading bonus. Token holders have a number of benefits. For example, traders have a 30% discount on commissions. Moreover, customers have the advantage of being able to vote for coin listings (How to Make Money on Cryptocurrency?).

On the site bitubu.com There are two versions of the cryptocurrency exchange platform – basic and advanced. The basic version of the platform has a more simplified form for quick analysis of a particular trading pair. Here, the client can find a chart in real time, as well as price summaries for some types of cryptocurrencies.

 

The advanced version of the platform has more analysis tools to help clients make more informed decisions. The trader is also shown information about the selected trading pair, the chart for the selected period of time, trades, open orders and a form for buying/selling cryptocurrencies.

 

In addition to the standard features, there are plans to make margin trading available. Unfortunately, at the moment the mobile application is also under development, so clients do not have permanent access to the trading platform. In general, the platform has a simple and clear interface. The advantage is the availability of a Russian-language interface, but it is worth noting that not all pages of the site bitubu.com translated into Russian. Among the main advantages of the exchange are:

• availability of the Russian version of the project;
• 24-hour support service;
• own token;
• referral program;
• the ability to vote for a cryptocurrency listing;
• large volume of trade;
• simple and straightforward interface;
• Loyal Commissions;
• account security.

 

How to exchange cryptocurrency on the platform bitubu.com?

To go to the exchange of cryptocurrency, you need to log in to the system and click on the “Exchange” button. Then the client only has to perform a few simple steps:

• choose a trading pair to exchange;
• fill out an order specifying the amount of cryptocurrency to be exchanged;
• click on the “Buy” or “Sell” button, depending on your goal.

 

Verification on the BitUBU platform

Verification is a mandatory process on the exchange, because without it there are some restrictions. To proceed to the process of identity verification, it is necessary to go to your account and click on “Verify phone”. Then a form will pop up in front of the trader, in which you must specify the phone number, to which an SMS message with a code will be sent.

 

The next step is to provide a document proving the identity of the user. This can be a passport, driver’s license or ID-card. The client must upload a color photo or screenshot of the document. The verification process itself takes from several hours to several days.

 

Deposit and withdrawal

To deposit to your trading account, you need to go to the “Wallet” and click on the “Deposit” button next to the selected cryptocurrency. Then you should perform several actions:

• copy the generated address;
• insert the address into the payment system from which the transfer will be made.

 

Withdrawal of earnings

To withdraw funds, you need to go to the same section and click on the “Withdraw” button next to the cryptocurrency. Then a form appears in front of the client, in which the following information must be specified:

• address to which the transfer will be credited;
• amount to be withdrawn.

The minimum amount to withdraw directly depends on the type of cryptocurrency. For example, for Bitcoin the minimum amount is 0.00051 BTC, and for Ethereum – 0.02 ETH.

 

Cryptoexchange Commission

Trading commission for any type of cryptocurrency is 0.2% for both makers and takers. There is no commission for deposit, and for withdrawal directly depends on the type of cryptocurrency.

 

BitUBU bonuses

From time to time the company provides various bonuses for its users, but at the moment there are no active bonuses.

Referral program

For active clients, an affiliate program is provided, in which you can get additional earnings. Thus, each user can use a referral link to attract new participants to the project and receive a reward of 25% of the commission.

 

Complaints about BitUBU

Since the project has been on the financial market for less than a year, few reviews can be found on the Internet, especially from clients from the CIS countries. In general, the organization has a positive reputation, although there are some shortcomings. Of the positive points, users point to the loyal commissions, the availability of their own token and a simple verification process. The disadvantages include the lack of a mobile application and the fact that not all sections of the site bitubu.com are adapted to the Russian language.

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Crypto exchange regulation

The financial sector is one of the most popular among scammers, which is why a large number of scams appear on the Internet. To protect yourself from a negative experience of cooperation with an unscrupulous company, you should carefully check the license, as well as the necessary documentation on the official website of the exchange. Let us consider in more detail how the platform is regulated.

BitUBU regulator

At the moment, the company does not have any license, but this may be due to the fact that the organization appeared only a year ago. The necessary documentation, as well as contact information, is publicly available to all users.

Bitubu.com User Agreement

The “User Agreement” is the main document of the project, which each user should read before starting trading on the exchange. The document contains the basic rules of cooperation, as well as the obligations of both parties. The disadvantage is that the agreement is presented only in English, which may create difficulties for traders from CIS countries. Let’s consider some points in more detail.

The agreement states that the company strives to ensure the security, integrity, and confidentiality of personal information provided on the site and therefore reviews and updates its security measures in light of current threats. However, users should be aware that no data transmission over the Internet is completely secure.

The company will endeavor to take all reasonable measures to protect any personal information that a user may transfer to it or the exchange’s online products and services. Once the organization receives the transfer, it will also make every effort to secure it on its systems.

Although the website states that the trading fee is 0.25% for any type of cryptocurrency, the company reserves the right to charge a commission, which can range from 0.2 to 0.5% per transaction, as well as fixed withdrawal fees. By using the exchange, the client agrees not to complain or hold any person or party responsible for any loss of funds during the trading process caused by incorrect price or amount entry, incorrect withdrawal addresses, or any other actions for which the client is responsible, including any actions of others, website inaccessibility or system failure.

It is worth considering the fact that currently bitcoin-based cryptocurrency, is vulnerable to attacks on 51%, including cryptocurrency blockchain, especially in the market of new cryptocurrencies. If any attack or failure of these cryptocurrency systems, the only thing the company can do is to wait for a possible solution of the original developers and there are no guarantees, as we the company is not responsible for the creation, development and maintenance of cryptocurrencies.

Multiple deposits of very small fractions of coins directly for exchange from mining pools with fractions of coins are also known as “dust,” considered TX spam, and can lead to account blocking without refund. The company begins tracking the daily BTC volume for each cryptocurrency specified 2 months after it is added. If the average daily volume for one month is less than 0.2 BTC, the organizer will announce the removal of the currency on Twitter and mailing lists. After the announcement of removal, currencies are retained on the exchange for at least 2 weeks to allow users to trade or withdraw their currencies from the exchange. If the average daily volume becomes greater than 0.2 BTC during those two weeks – the currency is allowed to remain on the exchange.

The currency delisting procedure will be carried out by the exchange only with a preliminary announcement at least 14 days prior to the actual market delisting. A newsletter notification will be sent to all user emails (all users are subscribed by default) and Twitter. Markets will also be highlighted in red to let users know that a market related to a currency is scheduled to be removed from the exchange. This gives traders plenty of time to trade or withdraw currencies before they are removed from the list.

Balances cannot be restored after coin exclusion. Wallets may be granted an extended grace period for withdrawals as long as it does not affect server performance. A coin may also be delisted without notice in the event of a blockchain failure that the coin developer refuses to fix.

The Company disclaims any responsibility for any loss or damage caused by a distributed denial-of-service attack, viruses or other technologically harmful material that may infect your system equipment, computer programs, data or other proprietary components due to your use of this web site or to any material downloaded by you from it or any web site linked to it.

The organizer is not responsible for the actions or inactions of other users, and is not a broker. Bitubu.Com is a service that allows anyone to offer, sell and buy goods at any time. The company does not participate in the actual transaction between buyers and sellers, and does not control or guarantee the quality, safety or legality of advertised merchandise, the veracity or accuracy of listings, the ability of sellers to sell items, the ability of buyers to pay for items, the timeliness of delivery, or the time when the buyer or seller will actually complete the transaction.

Customer Service

You can contact the support team using:

• online chat;
• feedback forms;
• email: [email protected].

 

Is BitUBU a scam?

BitUBU – a young cryptocurrency exchange, which appeared on the financial market in 2019. During this period, the project actively developed and managed to gain popularity among traders around the world. The company focuses specifically on the international market, as evidenced by the multilingual interface of the project. It is known that the main office of the platform is located in Turkey, where the regulation of the company is carried out.

The platform provides traders not only profitable, but also comfortable conditions for trading activities. All clients get access to trading with 17 types of cryptocurrencies and 25 trading pairs. The main market accounts for BTC, ETH and USDT. The exchange also has its own token UBU, running on the Ethereum blockchain. Token holders have some advantages in the form of discounts on trading commissions, as well as the ability to vote for the listing of new types of cryptocurrencies. Also, margin trading will soon be available to customers.

For active participants, the organization has developed an affiliate program, in which users can attract new clients to the project and receive compensation for this in the amount of 25% of the commission. The mobile application is currently under development and soon users will be able to access trading from anywhere and at any time, which will greatly simplify trading.

Due to the fact that the project appeared on the market less than a year ago, it is still impossible to find many reviews on the Internet, in particular from customers from the CIS countries. At this stage, the company has a good reputation, although there are some shortcomings. Having analyzed the opportunities that the project provides to its users, can we conclude that BitUBU is a scam and swindlers? No, because the company successfully provides its services to customers around the world and is actively developing.

 

Conclusion

BitUBU – is an exchange for trading digital assets, which began its operation less than one year ago. The company is gradually developing and gaining popularity among users around the world. The platform is focused on the international market, as evidenced by the multilingual interface of the official website. The organization provides its users with favorable and comfortable conditions. However, it is worth considering the fact that trading activity is quite a risky process.

Many beginning traders do not take this fact into account and lose their investments. That’s why it’s worth getting acquainted with the necessary documentation before you start trading. Now the company looks good among its competitors, although there is still work to be done. If you were or are a client of the exchange, leave your impressions about the platform on our website to form an independent rating of exchanges for cryptocurrency trading.