|Brief||The crypto world continues to grow and increase in size, which includes everything, from new projects, coins, the number of users, and even cryptocurrency exchanges that those users can trade on.|
|Last updated:||Thursday, July 9, 2020 6:00:04AM UTC|
|Volume 24 hours, USD:||32 662 406|
General Fatbtc facts, technical details and general information about Fatbtc exchange
The crypto world continues to grow and increase in size, which includes everything, from new projects, coins, the number of users, and even cryptocurrency exchanges that those users can trade on. As such, it can get very confusing very quickly. With the more choices being set before the investors and traders, it can be quite challenging when it comes to choosing an asset to invest in, or even an exchange to trade on.
While we leave the choice of assets to your discretion, we can help you pick the right exchange, which is why today we are going to review another one. This time, we will be taking a look at FatBTC exchange, and try to determine where it stands in comparison to others.
Now, the first thing to note is that FatBTC is not a new exchange. In fact, by crypto standards, it is quite old. It was launched in China back in 2014, and it gathered a decent amount of popularity in the last five years. It lists numerous assets, some of which are better-known and popular, while others are not as well-known and used.
Also, the exchange is available in numerous languages, including Chinese, simplified Chinese, English, Spanish, Russian, Portuguese, and Vietnamese. This is a clear indication that the exchange aims big, wishing to include the majority of the world by supporting some of the most spoken languages out there.
It offers numerous services, including 65 different cryptos available for trade, as well as fiat trading, although it seems to currently only support Chinese yuan. It also has its own online crypto wallet.
The platform is pretty easy to use, with simple deposit and withdrawal options, although its trading mechanism is slightly different from that of most other platforms. There is no minimum amount that you can deposit, except when it comes to a handful of tokens, including Tether (USDT).
When it comes to its fees, the exchange offers a flat trading fee of 0.20%, which is pretty standard and mostly accepted as a reasonable fee by most traders. There are exchanges with lower fees than this, but this is not too bad either. And, if you use FatBTC's own native crypto — Fatcoin (FAT) — you can get a 75% discount on the fees, which is even better.
When it comes to withdrawal fees, it is only 0.0005 BTC, which is significantly lower than the average withdrawal fee encountered on other exchanges, which is typically at 0.0008 BTC. Of course, the fee varies from one coin to another.
In terms of security, the exchange protects its users by employing the HTTPS protocol and keeping the funds in offline wallets. It also offers 2FA for greater security of users' accounts. This still doesn't make it completely hacker-proof, so it is a good idea to keep your coins in your personal wallet when you are not trading.
FatBTC appears to be a rather responsible exchange that seems to be doing everything in its power to keep its users and their assets safe while offering some great services at the same time. It supports fiat trading which makes it a good entry-level exchange, and it has an excellent asset offering, including its own token.
All in all, it is a great exchange with years of experience and no security incidents that would spoil its reputation.
|Fatbtc volume change 24 hours||6.35%|
|Volume 24h, USD||Change 24h|
|Binance||6 202 568 808||33.25%|
|IDCM||4 498 856 529||61.25%|
|Huobi Global||4 107 588 453||34.98%|
|TAGZ Exchange||3 485 560 734||11.50%|
|OKEx||2 488 756 045||23.99%|
|ZG.com||1 904 091 652||-3.94%|
|BitMEX||1 486 450 221||33.70%|
|Bit-Z||1 415 915 760||-21.71%|
|EtherFlyer||1 290 078 791||-0.04%|
|Sistemkoin||1 278 813 005||33.42%|