Bitsten Crypto Exchange Review 2023 : Pros & Cons

What Is Crypto Exchange

A crypto exchange is a platform that allows users to buy, sell, and trade cryptocurrencies such as Bitcoin, Ethereum, and other digital assets. These exchanges act as intermediaries between buyers and sellers, providing a platform where they can exchange cryptocurrencies for fiat currency or other cryptocurrencies.

Crypto exchanges vary in their services and features, but most offer a trading interface that allows users to view real-time market data, place buy and sell orders, and manage their cryptocurrency holdings. Some exchanges also offer additional services such as margin trading, lending, and staking.

Crypto exchanges can be centralized or decentralized. Centralized exchanges are operated by a company or organization and require users to deposit their funds with the exchange before trading. Decentralized exchanges, on the other hand, allow users to trade cryptocurrencies without the need for a central authority, using smart contracts to facilitate trades directly between users.

What Is Bitsten Crypto Exchange ?

Bitsten is a centralized cryptocurrency exchange that offers trading services for a wide range of cryptocurrencies. The exchange was launched in 2019 and is headquartered in Estonia. supports a variety of trading pairs, including BTC, ETH, USDT, and many other altcoins.

In addition to trading services, Bitsten offers various other features, including margin trading, staking, and lending. The exchange also has a mobile app that allows users to access their accounts and trade on-the-go. Bitsten has implemented various security measures to protect users’ funds and information, including two-factor authentication, SSL encryption, and regular security audits.

Bitsten Crypto Exchange Quick Facts

How To Register At Bitsten Exchange?

To register on Bitsten , 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.

Bitsten Exchange Supported Countries

Bitsten 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, Pakistan and countries in the Middle East. Syria and North Korea are also countries whose nationals cannot trade on Bitsten .

How To Verify Your Bitsten Cryptocurrency Account ?

There is no mandatory verification at Bitsten , 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 Bitsten , Revolut platforms.

How To Buy Crypto Or Deposit Crypto At Bitsten Crypto Exchange

There are two main options for topping up your balance on Bitsten . 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 Bitsten 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 Bitsten Account ?

To secure your Bitsten account, you can follow the steps below:

1. Use a strong and unique password: Choose a password that is at least 8 characters long and includes a combination of uppercase and lowercase letters, numbers, and special characters. Avoid using easily guessable words or common passwords.
2. Enable two-factor authentication (2FA): 2FA adds an extra layer of security to your account by requiring a verification code in addition to your password when you log in or perform certain actions. You can use Google Authenticator or other 2FA apps to set up 2FA on your Bitsten account.
3. Keep your login credentials and 2FA codes private: Do not share your login credentials, 2FA codes, or other sensitive information with anyone. Avoid using public Wi-Fi or unsecured networks to access your Bitsten account.
4. Regularly review your account activity: Check your account activity and transaction history regularly to ensure that there are no unauthorized activities or suspicious transactions.
5. Use a hardware wallet: Consider using a hardware wallet to store your cryptocurrencies offline, as this provides an extra layer of security against hacks and thefts.
6. Keep your software and devices up-to-date: Ensure that your computer or mobile device has the latest security updates and antivirus software installed to prevent malware and other security threats.

By following these best practices, you can help to secure your Bitsten account and protect your cryptocurrencies from unauthorized access and theft.

Fees taken when buying virtual currency

Bitsten Trading fees

Every trade occurs between two parties: the maker, whose order exists on the order book prior to the trade, and the taker, who places the order that matches (or “takes”) the maker’s order. Makers make the liquidity in a market and takers remove this liquidity by matching makers’ orders with their own.

Bitsten’s fee for takers is 0.20%. 0.25% can be argued to be the industry average taker fees, so 0.20% is neither particularly low or particularly high. 

However, this exchange does not charge any fees for makers, thus promoting the liquidity at the exchange. This is a very strong part of Bitsten’s offering and can be really helpful for people interested in not picking up existing orders from the orderbook.

The fees are also discounted if you reach certain monthly trading volumes, as follows:

Bitsten Withdrawal fees

Withdrawal fees are usually fixed and vary from crypto-to-crypto. If you withdraw BTC, you pay a small amount of BTC for the withdrawal. If you withdraw ETH, you pay ETH. The last time we did an empirical study of the BTC-withdrawal fees in the crypto exchange market, we found that the average BTC-withdrawal fee was approx. 0.0006 BTC per BTC-withdrawal. Bitsten charges 0.0005 BTC, which is slightly below the global industry average. Accordingly, their withdrawals fees are also competitive.

Deposit Methods

Bitsten does offer fiat currency deposits, but you can’t deposit via credit card. Also, you can only deposit IDR (Indonesian Rupiah).

Accordingly, if you for some reason would prefer to deposit to your choice of trading platform via your credit card, or through any other fiat currency then the IDR, then you need to find another exchange. Don’t worry though, you can find an exchange that accept credit card deposits

Trade On Go Bitsten Is 100% Mobile Friendly

Yes, Trade On Go is Bitsten’s mobile trading platform that is designed to be 100% mobile-friendly. With Trade On Go, you can access all of the trading features and tools of the Bitsten exchange from your mobile device, including trading cryptocurrencies, managing your portfolio, and monitoring the markets in real-time.

Trade On Go is available for both iOS and Android devices, and can be downloaded from the App Store or Google Play. The platform is user-friendly and easy to navigate, with a clean and intuitive interface that makes trading on-the-go quick and convenient.

With Trade On Go, you can trade cryptocurrencies from anywhere at any time, as long as you have a stable internet connection. The platform also supports multiple languages, making it accessible to users around the world.

In summary, Trade On Go is a 100% mobile-friendly trading platform that allows you to trade cryptocurrencies on Bitsten exchange from your mobile device, providing you with the flexibility and convenience to manage your portfolio on-the-go.

How To Contact Bitsten Customer Support Team?

If you need to contact Bitsten customer support, you can follow the steps below:

1. Go to the Bitsten exchange website and log in to your account.
2. Click on the “Support” tab in the top menu bar.
3. Choose the category of your inquiry from the dropdown menu.
4. Select the sub-category that best matches your inquiry.
5. Click on the “Submit a Request” button.
6. Fill out the support form with your details and inquiry, and attach any relevant documents or screenshots if necessary.
7. Click on the “Submit” button to send your inquiry to Bitsten customer support.

Alternatively, you can also reach out to Bitsten customer support through their official social media channels, such as Twitter or Facebook, or by sending an email to their support team.

It’s important to note that Bitsten customer support may have different response times depending on the volume of inquiries, and may require additional information or verification for certain inquiries. Make sure to provide as much detail and information as possible when submitting your inquiry, and be patient while waiting for a response.

Features Of Bitsten Crypto Exchange

Wide selection of cryptocurrencies

Bitsten supports a wide range of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and many others.

Low trading fees

Bitsten offers competitive trading fees that range from 0.1% to 0.03% per trade, depending on your trading volume.

User-friendly trading platform

Bitsten’s trading platform is easy to use and navigate, with a clean and intuitive interface that makes trading quick and convenient.

Advanced trading tools

Bitsten offers a variety of advanced trading tools, including margin trading, limit orders, stop loss orders, and more.

High liquidity

Bitsten has a high liquidity rate, which means that you can buy and sell cryptocurrencies quickly and easily at market prices.

Secure platform

Bitsten employs advanced security measures to protect user assets, including two-factor authentication, SSL encryption, and cold storage for cryptocurrencies.

Fast deposits and withdrawals

Bitsten supports a variety of payment methods, including bank transfers and cryptocurrency deposits and withdrawals, making it easy to deposit and withdraw funds from your account.

24/7 customer support

Bitsten has a dedicated customer support team that is available 24/7 to help users with any inquiries or issues they may have.

Bitsten Good Or Bad Points

Here are some potential good and bad points of Bitsten :

Good Points :

• It has a low transaction fee
• Mobile App availability
• It has an excellent features
• This token is a decent symbolic that has a pleasant task
• This token is a good token that has a nice project

Bad Points :

• It has low trade volume
• Some users have reported slow response times from Bitsten’s customer support team, which may be a concern for users who require timely assistance.
• Bitsten’s website is currently only available in English, which may be a barrier for users who speak other languages
• Bitsten only supports a few fiat currencies, which may limit the trading options for some users.

Is Bitsten Is Safe Platform To Trade ?

Bitsten crypto exchange employs advanced security measures to protect user assets, and there is no evidence to suggest that it is an unsafe platform to trade.

Bitsten uses two-factor authentication (2FA) to secure user accounts, and SSL encryption to protect data during transactions. Additionally, Bitsten stores the majority of its users’ funds in cold storage, which is an offline storage method that is less vulnerable to hacking attempts.

It is important to note, however, that no platform can be completely immune to security breaches or hacking attempts, and there is always some level of risk associated with trading on any cryptocurrency exchange. Users should always take appropriate precautions, such as enabling 2FA, using strong passwords, and keeping their login information confidential. It is also important to conduct research and due diligence before using any platform to ensure that it is reputable and trustworthy.

Bitsten Conclusion

Bitsten is a cryptocurrency exchange that offers a wide range of digital assets for trading, low trading fees, advanced trading tools, and high liquidity. The exchange has a user-friendly trading platform and employs advanced security measures to protect user assets. Additionally, Bitsten supports a mobile trading platform, Trade On Go, that is designed to be 100% mobile-friendly and allows users to trade cryptocurrencies on-the-go.

However, it is important to note that Bitsten has limited support for payment methods and fiat currencies, and its customer support response times may be slower than some users would like. Nonetheless, overall Bitsten appears to be a reputable and trustworthy platform for cryptocurrency trading, and it may be a good choice for users who are looking for a user-friendly and affordable option for trading digital assets. As with any cryptocurrency exchange, users should conduct their own research and due diligence before using Bitsten or any other platform.

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