BitForex Reviews for April 2024

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If you live in a country where crypto regulation is on the softer side, then you should definitely consider trading on BitForex. The reason is that, unlike many other exchanges, BitForex accepts deposits in fiat via banking card, so it relieves newly registered traders from the hassle of buying crypto with fiat and then depositing this crypto to the exchange. As I have already said, the lax regulation, which means that the bank won't start nagging every time you make a deposit, allows traders to use BitForex to the fullest extent.

As I see it, the industry is currently developing in a way that leads to the demise of the majority of altcoins and cryptocurrency exchanges that simply don't meet the necessary standards of security, efficiency, and, in case of cryptocurrencies, the ability to showcase sustainable gains. It is like the survival of the strongest in the crypto space right now. And I doubt that BitForex would be able to survive the competition in the long run. This platform is just too dull and unreliable, if not to say shady.

I am not really fond of the fact that BitForex is registered in Seychelles, because it is evident that they chose this jurisdiction for the purpose of tax evasion. And while it might be good for their business, it also doesn't instill too much trust in this platform. I understand that the entire cryptocurrency industry has lax regulation and absolutely no safety net against scams, but the trader is still responsible for choosing the platform that is transparent and preferably regulated, not registered in some offshore zone.

Right now, the crypto industry is entering a very competitive phase that could end up in a classic survival of the fittest. It remains to be seen whether BitForex would be amongst those platforms that would continue working in five years' time, though I currently don't see any prerequisites for this. The management is evidently making some moves in order to keep the platform afloat, but that won't be enough in the long run.

Suddenly, BitForex turned out to be among Top 10 cryptocurrency exchanges on Coinmarketcap by adjusted volume. I liked this place before, though I haven't been trading there quite often because our firm prefers another platform. But whenever I have some free time and money, I go to BitForex to get some gains. I like everything about it, the fees, the user interface, and its overall functionality. Please let me know if you think that this platform has some flaws.

Even though BitForex has the backing of such powerhouses of the crypto industry as TRON, QTUM, and Block VC, which was to show the prospects of this platform, it still managed to make a lot of stench because of the alleged involvement in wash trading and volume manipulations. I know that virtually everyone in this industry is "doing that", but that is definitely not the way how the crypto space should evolve. Therefore, I chose to express my protest by switching from BitForex to another platform.

BitForex is a tough competitor for such well-established exchanges as Binance Huobi, and Latoken. They are constantly developing the ecosystem, adding new functional feats and promos. For instance, right now, BitForex offers a $10 welcome bonus to all newly registered users who use the BitForex mobile application for trading purposes. It's not a lot for a serious trader, but could really be a nice boost for a fledgling trader who's just begun learning the craft and doesn't have thousands of dollars to spare.

Not a good company at all to deal with. They steal your money and delay as much as they can when you go to withdraw your money that you are entitled to. Stay away from them because you will walk out POOR and BROKE. I wish I never encountered them I was way better off before I met them. Biggest mistake of my life. Every time I ask to withdraw conveniently they have a fee I have to pay. They are eager to take your money but when it’s time to give you money back oh it’s delayed. You guys are a terrible scam and heartless people working for this company. I tell support and they are a bunch of robots with no heart and no emotion.

What's there not to like about BitForex: it has very low fees, allows users to make deposits with fiat, and has the overall pleasant interface and support team. Just get there and do your trading freely. I have heard about some issues concerning the slow withdrawal process, but that happens on all platforms and depends on a variety of factors.

Do not use this platform! I accidentally deposited an ERC20 token (to an ERC20 address) that was no longer available because it already had its mainnet. The platform did not want to return the tokens back to my wallet and instead asked me to pay 150$.

One of the things I've noticed straight away is the weird layout of the trading window. While the charting is okay, mainly because it is provided by TradingView, the placement of the order book, as well as the box that shows the transaction history, is unconventional - somewhere way below the interface - and uncomfortable for that matter. It takes time to get used to it, a lot of time. On the flip side, BitForex offers literally the lowers taker fee among its peers - 0.1% per trade is a bargain.

* Crypto Rating accepts no liability for content of the BitForex reviews made by the site users. The entire responsibility for the contents rests with the authors.

Top 10 Cryptocurrency Exchanges

#	Exchange	Founded	Rate	Coins	Volume 24h	Change 24h
1	Binance	2017	4.7	341	85 756 472 788	16.06%
2	Kraken	2011	4.5	62	1 142 715 309	28.70%
3	Bitfinex	2012	4.4	146	978 819 336	-9.20%
4	KuCoin	2017	4.2	282	8 060 549 816	24.53%
5	Indodax	2019	3.8	157	33 198 028	-5.74%
6	WazirX	2018	3.4	176	29 385 566	-22.41%
7	Paribu	2017	3.1	51	145 013 619	-31.78%
8	OKEx	2014	3.6	242	20 324 410 065	16.18%
9	Bybit	2018	3.5	97	13 164 479 386	31.11%
10	FTX	2019	1.7	192	11 002 802 152	17.90%

BitForex Reviews for April 2024

Top 10 Cryptocurrency Exchanges

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