- Excellent trading platform
- Very high liquidity
- Wide array of crypto assets
- Low trading and withdrawal fees
- Slow customer service and limited options
- Verification process can be tedious
- Not regulated
Bit-Z is a large and successful cryptocurrency exchange that quickly climbed the ranks as a leading international crypto exchange. The crypto exchange was established in 2016 by a dedicated team of crypto enthusiasts and professionals from a wide variety of industries. Bit-Z is headquartered out of Hong Kong as they have favorable regulations and a booming cryptocurrency scene which has helped the exchanges success. However, Bit-Z remains unregulated just as most of the cryptocurrency exchanges are. Nevertheless, the exchange is compliant with authorities and hopes to be regulated in the near future.
The trading services offered by Bit-Z include cryptocurrency trading through their exchange platform and over the counter (OTC) services. Bit-Z accepts traders from all around the world and fully supports both the English and Chinese languages. While Bit-Z is an international cryptocurrency exchange, their primary customer base is from China and Asia. As Bit-Z is a relatively new cryptocurrency exchange, can they be trusted and are they right for you? After all, there are numerous crypto exchanges available today and it can be overwhelming knowing which one to choose. Which is why we have conducted in depth research into all aspects of the Bit-Z cryptocurrency exchange and laid it out for your viewing in this review. So, delve in as we uncover the aspects that make up this crypto exchange and whether they can be trusted or not.
Bit-Z features their very own proprietary web-based trading platform which has been designed with both experienced and beginner traders in mind. The platform is highly sophisticated with advanced features but at the same time, it’s very easy to use and understand. The user interface is intuitively designed with everything seemingly placed in the right spot. As well, the platform is lightning fast and very smooth with seamless order execution and one click trading from the sophisticated charts. Also, traders have all the advanced tools and analysis features at their disposal, including an extensive array of technical indicators, various chart types and time frames, real-time market prices and news, as well as API access for customized automated trading.Traders also benefit from sophisticated trading reports and portfolio management tools. All in all, the platform featured by Bit-Z is very impressive and holds up with the best of them. As well, the Bit-Z platform has a mobile application for both iOS and Android devices which is available for download from the Apple App Store and the Google Play Store. The mobile platform supports all the same tools and features as the web-based platform, but has been formatted to provide an optimal experience on the mobile screen.
Bit-Z is a cryptocurrency exchange and only offers the trading of crypto to crypto, no fiat currency trading pairs are offered or supported. That being said, Bit-Z does offer an extensive array of cryptocurrency assets totaling over 100 cryptos supported and available to trade. As well, the exchange is constantly adding new coins with many of them being first to the market. Also, the exchange allows traders to vote on which coins they would like added. This is a great feature that adds to the user experience and creates excitement in the crypto community. The crypto markets or trading pairs in which these cryptos can be traded and exchanged with include Bitcoin (BTC), Ethereum (ETH), DKK Token (DKKT), and Tether (USDT). Users must first purchase their base cryptocurrency from another exchange with fiat currency before trading with Bit-Z.
Fees and commission
The trading fees imposed on traders at Bit-Z are very reasonable and even competitive with much of the competition. All traders pay the same fees as there are no discounts for trading volume or deposit amounts. This is somewhat disappointing for big time traders who trade with large sums of money. However, the base trading fees are already very low at just 0.1% for buying or selling crypto. The maker and taker fees are exactly the same, which is very straight forward for beginner traders. As for deposit and withdrawal fees, there are no fees on all deposits and for withdrawals the fees vary depending on the cryptocurrency being withdrawn. To give an example, the withdrawal fee for Bitcoin is 0.0001 BTC, for Ethereum it’s 0.01 ETH, for Litecoin it’s 0.01 LTC, and for EOS it’s 0.5 EOS. These withdrawal fees are quite standard in the cryptocurrency industry.
Security and fairness
The Bit-Z exchange may not be regulated, but they are highly secure and follow all the same requirements for security as a regulated trading brokerage. For instance, Bit-Z utilizes the latest bank level SSL technology on all transactional information and has very stable servers through the implementation of Global Server Load Balancing (GSLB). As well, all users must verify their identity before making withdrawals, which is in line with regulatory standards. Other security features include two factor authentication techniques such as email, SMS, and Google 2FA. Overall, Bit-Z is a very safe, fair, and secure crypto exchange.
The support offered by Bit-Z is rather slow which is typical among most cryptocurrency exchanges. As well, the support methods available are limited and only include live chat and support tickets which are available 24/7. Additional methods of support include an extensive FAQ page and support via the exchanges social media channels.
All in all, Bit-Z is one of the better cryptocurrency exchanges available. They feature a wide variety of cryptocurrency assets and an excellent trading platform packed with all the tools and features you need. The exchange has an excellent reputation and employs the latest security measures to protect their users. It’s unfortunate Bit-Z does not support fiat currency, but it’s a small aspect compared with everything else.
The following are the common questions that customers inquired about Bit-Z.
Is Bit-Z regulated?
No, it is not regulated.
Is Bit-Z a scam?
No, Bit-Z is a legit exchangewith an excellent reputation.
Where is Bit-Z based?
Bit-Z is based out of Hong Kong but their headquarters are not listed.