Bitexlive Crypto Exchange Review 2023 : Pros & Cons

What Is Crypto Exchange ?

A cryptocurrency exchange, usually referred to as a crypto exchange, is an internet-based marketplace where users may purchase, exchange, and trade different cryptocurrencies. These marketplaces serve as middlemen between buyers and sellers, enabling the conversion of cryptocurrencies into fiat money, other cryptocurrencies, or tokens.

Order books, price charts, and trading APIs are just a few of the trading tools and services that crypto exchanges frequently provide to help traders assess the market and place transactions.

Also, some exchanges include services for lending and borrowing, margin trading, and other sophisticated features. Users often need to set up an account, go through identity verification, and put money into their account using a variety of payment methods in order to utilise a crypto exchange.

Exchanges may charge commissions for trading as well as other services like deposit or withdrawal fees. In the cryptocurrency ecosystem, crypto exchanges are essential because they give traders and investors access to a wide variety of cryptocurrencies and support market liquidity.

What Is Bitexlive Crypto Exchange ?

Users of the cryptocurrency exchange Bitexlive can buy, sell, and trade a number of different cryptocurrencies. The exchange’s headquarters are in Kazakhstan, and it was founded in 2017. Both novice and expert traders can use the user-friendly platform with cutting-edge trading tools offered by Bitexlive.

Bitexlive Crypto Exchange Quick Facts

How To Register At Bitexlive Exchange?

To register on Bitexlive , click Register Now button at the top of the page. You can also start creating an account directly through the form on the main page.

You only need to enter your e-mail and come up with a password. If there is a referral code, it is also entered at this stage. Password requirements: at least 8 characters, numbers, upper and lower case.

Click ” Create Account ” then go to your email to verify it. Enter the code you received and registration is complete. You can start replenishing your account.

Bitexlive Exchange Supported Countries

Bitexlive Exchange is a cryptocurrency exchange that supports users from various countries around the world. However, the availability of services may vary depending on the location of the user.

Exceptions are the US, China, Japan and countries in the Middle East. Syria and North Korea are also countries whose nationals cannot trade on Bitexlive .

How To Verify Your Bitexlive Cryptocurrency Account ?

There is no mandatory verification at Bitexlive , but you can pass it if you wish. At the moment, the only restriction imposed on unverified users is the withdrawal limit of Free. In the future, depending on the actions of regulatory authorities, conditions may change.

For verification, you can use one of four documents to choose from: passport, driver’s license, identity card or residence permit. Artificial intelligence is used to evaluate the authenticity of documents. This service is provided by the Onfido online identification service, already used by the Bitexlive , Revolut platforms.

How To Buy Crypto Or Deposit Crypto At Bitexlive Crypto Exchange?

There are two main options for topping up your balance on Bitexlive . Firstly, you can buy cryptocurrency with a bank card – it’s fast and convenient. Go to the ” Buy crypto ” -> ” Buy crypto with a credit card ” section.

Choose a cryptocurrency (currently there are 13 coins available for purchase in this way). Enter the amount and select the fiat currency to be used for payment.

After that, you will need to select a payment channel: each of them has conditions. You can choose between Simplex, Mercuryo, Banxa and Moonpay. Click ” Buy ” next to the appropriate option.

Agree to the terms and confirm the transition to the site of the payment provider. Enter information about the card and its owner, confirm the transaction. Cryptocurrency will be credited to the exchange account within a few minutes.

Second Method

You can transfer digital assets to the balance of the exchange from any external crypto wallet. For this:

• Go to the “Deposit” section from the “Assets” menu.

• From the drop-down list, you can select the cryptocurrency you want to deposit into your account.
• The wallet address will appear. You need to copy it and send funds to it from another wallet or exchange. Please note that only bitcoin can be sent to bitcoin addresses, similarly with other coins.
• You can also click “Show QR code” – for transfers from a mobile wallet, this is a more convenient option.

How To Withdraw Crypto Asset From Bitexlive Exchange ?

Having completed all the necessary trading operations, it’s time to withdraw the received assets to an external wallet. Go to ” Assets ” -> ” Withdraw “. Please note that the operation is only available after enabling two-factor authentication in the settings. This is for added security and requires less than a minute, so don’t neglect this measure.

Select a cryptocurrency and enter the withdrawal amount. Each coin has its own withdrawal fee, for example, for BTC it is 0.00057 BTC. Click ” Output “. By default, the exchange processes applications three times a day, however, hourly withdrawals are available for Premium users. Also, the time of receipt of the cryptocurrency is affected by the workload of the blockchain network.

How To Secure Your Bitexlive Account ?

There are numerous measures you can do to secure your Bitexlive account:

1.Using Strong Password : Choose a secure password that is different for your Bitexlive account. It should have a combination of letters, numbers, and special characters, and be at least 8 to 10 characters long.

2.Enable Two-Factor Authentication (2FA): Your account is given an additional layer of security thanks to two-factor authentication (2FA). In addition to your password, you must input a special code that was given to your phone or produced by an app.

3.Keep Your Personal Information Secure : Never divulge the login information for your account to anyone. Be careful while giving out personal information online as con artists could try to get you to give your account information.

4.Use a Secure Connection : Use a secure internet connection whenever you access your Bitexlive account, always. Avoid using public WiFi and, if required, use a VPN.

5.Keep Your Software Up-To-Date : Ensure that the antivirus software and security fixes on your computer or mobile device are up to date.

6.Monitor Your Account : Check your account frequently for any fraudulent transactions or questionable activities. Inform Bitexlive support right away if you see any strange activity.

Fees taken when buying virtual currency

Bitexlive Trading fees

Many exchanges charge what call taker fees, from the takers, and what call maker fees, from the makers. The main alternative to this is to simply charge “flat” fees. Flat fees mean that the exchange charges the taker and the maker the same fee.

This exchange charges a flat fee of 0.20% per trade. 0.20% is slightly below the global industry average (arguably around 0.25%).

They have also noticed on the platform that there seems to be zero-fee trading on BTC, DOGE, ETH and USDT. They have not received any specific confirmation on this fact, but draw conclusion from this table on the exchange’s website:

Bitexlive Withdrawal fees

Another fee to consider before choosing which exchange to trade at is the withdrawal fee. The withdrawal fee is usually fixed (regardless of the amount of crypto units withdrawn), and varies from crypto to crypto. For BTC-withdrawals, this exchange charges 0.0005 BTC. This is also below the industry average. Global industry average BTC-withdrawal fee is approx. 0.0008 BTC.

All in all, with respect to the fees, Bitexlive has a competitive offering.

Deposit Methods

You can deposit via a wire transfer on this trading site, but not a credit card. If you would want to use your credit card for any reason, this is obviously bad news for you. Moreover, only TRY-deposits are eligible for wire transfers. Use Exchange Finder or the filters in Exchange List and we’ll help you find your way to the best trading platform for you if you need a platform where you can wire transfer another fiat currency than the TRY or deposit fiat currency through credit card.

Trade On Go Bitexlive Is 100% Mobile Friendly

A mobile-friendly trading platform gives traders the convenience and flexibility to access their accounts, track the markets, and place trades from their mobile devices. It might be advantageous for traders who want to access their accounts and conduct trades from any location, at any time, if Bitexlive is truly 100% mobile-friendly.

To ensure a seamless and secure trading experience, it’s always crucial to check the platform’s compatibility with your mobile device and internet connection.

How To Contact Bitexlive Customer Support Team?

You can take the following actions to get in touch with Bitexlive’s customer care staff:

1.Log into your account on the Bitexlive website.

2.On the website, look for the “Support” or “Help Center” area.

3.The “Contact Us” button or link should be clicked.

4.Provide your name, email address, and message in the contact form.

5.Send the form in and watch for the Bitexlive customer service team’s answer.

As an alternative, you can get in touch with Bitexlive’s customer service department via their social media platforms, including Twitter or Facebook.

Features Of Bitexlive Crypto Exchange

Wide Range Of Cryptocurrencies

More than 150 cryptocurrencies, including well-known ones like Bitcoin, Ethereum, and Litecoin as well as more recent ones like Dogecoin, Binance Coin, and Chainlink, are available for trading on Bitexlive.

User Friendly Interface

The user-friendly interface of Bitexlive enables rapid purchases and sales of cryptocurrency.

High Security :

Bitexlive uses cutting-edge security techniques, such as two-factor authentication (2FA), SSL encryption, and cold storage, to safeguard the funds of its customers.

Low Trading Fees:

Bitexlive has a 0.1% trading cost, which is a low rate compared to many other exchanges.

Fast Transaction:

The speedy transaction processing speed of Bitexlive enables customers to buy and sell cryptocurrencies in a hurry.

Multiple payment Options

Bitexlive supports a variety of payment options, including bank transfers, credit/debit cards, and e-wallets, among others.

Customer Support

With a dedicated team of support staff on hand to help consumers with any problems they might have, Bitexlive provides customer care via its website, email, and social media platforms.

Bitexlive Good Or Bad Points

Like any other cryptocurrency exchange, Bitexlive has advantages and disadvantages of its own. The following are some of Bitexlive’s advantages and disadvantages:

Good points:

1.Low Trading Fees : Bitexlive has a trading cost, which is a low rate compared to many other exchanges.

2.Security : Bitexlive uses cutting-edge security techniques, such as two-factor authentication (2FA), SSL encryption, and cold storage, to safeguard the funds of its customers.

3.User Friendly Interface : The user-friendly interface of Bitexlive enables rapid purchases and sales of cryptocurrency.

4. Customer Support : With a dedicated team of support staff on hand to help consumers with any problems they might have, Bitexlive provides customer care via its website, email, and social media platforms.

Bad points :

1.Limited Payment Option : Just accepting bank transfers and cryptocurrency as payment methods, Bitexlive may be inconvenient for some consumers.

2.Lack Of Regulation : Because Bitexlive is not overseen by any financial regulatory body, some users could have questions.

3. No Fiat Currencies Trading : Since Bitexlive does not presently support trading in fiat money, some users may find it less appealing.

Is Bitexlive Is Safe Platform To Trade ?

Always do your own research and exercise due diligence before committing to any platform or product. While assessing the security of a cryptocurrency exchange or trading platform, you may wish to take the following into account

Look up the exchange or platform’s reputation online. Search for opinions regarding the platform in reviews, articles, and forum discussions. Also, look at the platform’s track record for security flaws or other problems.

Check for details on the platform’s security precautions, such as two-factor authentication, encryption, and cold storage of money. A clear policy for resolving security events and compensating users in the event of a loss should be present on the platform.

Verify that a reputable financial authority regulates the platform. This may make it easier to make sure the platform runs within acceptable moral and legal bounds.

Bitexlive Conclusion

It’s vital to take into account aspects like the platform’s security, the costs, the range of coins and tokens available for trading, and the exchange’s standing among cryptocurrency users. Also, since the cryptocurrency market can be unexpected and volatile, it is advised to only invest money that you can afford to lose.

FAQ