Bitrue - good exchange? | Bitcointalksearch.org

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copper member

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That exchange has been hacked atleast twice if i recall well. There is this incident
---> Singaporean's Exchange Bitrue Gets Hacked, $5 million XRP and Cardano Lost Huh

and
---> Bitrue exchange hacked for $23 million

On top of that I have seen some serious scam accusations/issue about them in this forum. Personally, I would avoid the exchange.
---> Scammed by Bitrue on 100,000$ (Scam 1,78 BTC)
---> Warning With Bitrue Exchange.

Husires

legendary

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Quote from: JamesDaniel90 on February 14, 2024, 08:00:39 AM

Bitrue doesnt sound great to be honest, I will just stick to the main exchanges thanks anyway

It is best to only invest in altcoins that you can find in 3 or 4 of the top 20 CEXs with one or two DEXs with reasonable liquidity. Some exchanges tend to remove tokens several months after listing them

Darker45

legendary

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Quote from: JamesDaniel90 on February 14, 2024, 08:00:39 AM

Bitrue doesnt sound great to be honest, I will just stick to the main exchanges thanks anyway

At least you've arrived at a reasonable decision. While all exchanges, big and small, may scam you, may suddenly stop operation, go bankrupt, get hacked, and so on, big and popular brands don't fall too easily. Small and unknown ones come and go anytime.

And, if I may add, you might want to ponder on your altcoin investment as well. Especially those that are unknown coins and can only afford to be admitted in equally unknown exchanges, those are red flags.

Stalker22

legendary

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Quote from: JamesDaniel90 on February 14, 2024, 08:00:39 AM

Bitrue doesnt sound great to be honest, I will just stick to the main exchanges thanks anyway

I havent come across Bitrue before so cannot vouch for them. When it comes to crypto exchanges, it is usually safest to stick with well-known, reputable ones. You mentioned needing access to a particular altcoin thats not on other platforms - which one is it? Perhaps the community here can suggest better options, whether centralized exchanges or DEXs to meet your trading needs while minimizing risk.
Regardless, please be careful and do your own due diligence before depositing significant funds anywhere. There are scammers targeting new traders eager to access obscure coins on shady exchanges. It is an unfortunate reality we have to watch out for in this space.

SatoPrincess

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Quote from: JamesDaniel90 on February 14, 2024, 08:00:39 AM

Bitrue doesnt sound great to be honest, I will just stick to the main exchanges thanks anyway

Good choice. You should always stick with the popular exchanges as they are less likely to scam you. Btw this is a good time to lock the thread.

Franctoshi

hero member

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I haven't used the exchange either, But from the information I have pertaining Bitrue, the exchange doesn't have a good reputation and there have been scam accusations leveled against the exchange in the past, just save yourself from any potential issue that may arise from using the platform, and go check out if the coin you want to purchase is available on pancake swap and better get the coin from pancake swap, that way would be better off.

sokani

sr. member

Activity: 658

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Quote from: JamesDaniel90 on February 14, 2024, 05:37:30 AM

Hi,

I want to invest in an altcoin that is not yet available on any of the big exchanges but is available on Bitrue.

I havent used Bitrue before , is it a safe exchange? What are the fees like?

https://www.trustpilot.com/review/www.bitrue.com

I don't know if some users on the forum have gotten some bad experience using it, but according to the review on trust pilot, Bitrue exchange is not looking good and you need to have a rethink before sending your funds to the exchange. Perhaps, you should consider waiting until a reputable exchange list the token or just stay away completely because a bad exchange can also ruin a good project.

JamesDaniel90

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Bitrue doesnt sound great to be honest, I will just stick to the main exchanges thanks anyway

icalical

sr. member

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As of the previous replies Bitrue is KYC exchange that required to submit your personal document, and there are several accusation toward the exchange.

You might want to check on some DEX as alternative. What Altcoins do you want to buy, there are a lot of DEX, these exchange doesn't ask for your document, and you can use your own, non-custodial wallet. One of those DEXes might have the altcoins that you want. Pancake Swap, Sushi Swap, Uniswap. The complete list is here on the CoinmarketCap.

Husires

legendary

Activity: 1596

Merit: 1288

If that altcoin is only list in Bitrue and not in any known/unknown DEX, even with low liquidity, it is better not to invest in it, as the opportunity to sell it in the future may be limited. Therefore, when you choose an altcoin, make sure that it is listed in some DEX so you can sell it if Bitrue decide to de-list it.
Avoid these altcoin and keep this rule in mind when you want to invest in the future.

promise444c5

sr. member

Activity: 476

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Their main exchange is centralised so they manage your token and I read they've had an attack before which is always common among the centralised exchange,
It's legit actually with KYC verification to access some features and I think they also provide some DeFi service.
You can still DYOR more on it so you can know what you are about to deal with

apogio

hero member

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I am not aware of this exchange, but I saw it is a KYC exchange. So, if you are certain that you want to do KYC for an exchange, which is your right, even though I disagree, why don't you use a bigger one, like Kraken for example, which is supposed to be one of the best KYC exchanges out there? Or perhaps Binance, Coinbase etc.

Upgrade00

legendary

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There have been a couple of scam accusations against Bitrue so I'll not touch the exchange even with a long stick. Exchanges that are relatively unknown should be avoided except they have proven to have a good enough reputation, this is because those exchanges can commit scams in isolated cases and it would go unnoticed by most.

What I do when researching on an exchange or platform is to search on he forum with the name of the exchange followed by 'scam'. It brings up everywhere it has been associated with a scam.

JamesDaniel90

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Hi,

I want to invest in an altcoin that is not yet available on any of the big exchanges but is available on Bitrue.

I havent used Bitrue before , is it a safe exchange? What are the fees like?

Topic: Bitrue - good exchange? (Read 139 times)