We made a review about Bleutrade exchange with an aim to provide our readers with the latest information regarding platform’s functions. Features of the site that we shall investigate are purchase/deposit methods, trade fees, cryptocurrencies, security and history of the company. The picture below represents the dashboard page of the exchange.
Lastly, based on the trade information we find at Bleutrade, we locate pros and cons that trading at Bleutrade has. The comparison with other exchanges, such as Coinmate and EXMO is also used, to pinpoint strength and weaknesses of Bleutrade.
Bleutrade is a cryptocurrency exchange that offers simple trading tools for its clients. The service is available globally as anyone can deposit altcoins and trade immediately. The exchange offers approximately around 2.500 pairs for trade, more than most of the exchanges in the industry, EXMO, Bitfinex, Bitstamp and Coinmate included.
The company has solid reviews on forums, more particularly on Reddit with its reputation intact concerning hacking incidents. The customer service commutation is done through support tickets since no direct contact email or phone can be found.
The trade itself is very limited in the aspect of functions offered since you can only use instant buy/sell functions. Coinmate and EXMO, in comparison, offer limit and instant functions for their clients.
Account Creation and Verification
Account registration at Bleutrade is pretty standard. You provide email, username, and password, all of which should be verified by the end of the process, as you can see n the picture below. The registration itself is free of charge and lasts less than 5 minutes of your time.
The verification process is something we wind very cool about Bleutrade. You do not need to provide your real name and last name, nor other private details about you. Verify your email and phone, and you are set to buy, sell and withdraw coins at moment’s notice. As you get directed to your account, you will see a table below in your account settings.
The phone line is accessible by traders from most of the countries in the world, making this platform one of the most privacy-friendly in the market. Below is the location on where to verify your phone number.
For those investors who are looking for more serious trade volumes, they would need to fully verify their identity. All you have to do is to upload the scanned ID and a selfie of you holding it in the same form where you pride private details about yourself, as shown below.
Both Coinmate and EXMO do not impose verification requirements on traders depositing and withdrawing coins. The situation is different for fiat currencies, as you need to fulfill long verification process.
This is probably the best feature that Bleutrade has to offer. With over 100 cryptocurrencies ready at your disposal, you can match any of them up as long as they are not delisted. This accounts for over 2.500 pairs available for you if you like altcoins bittern that more established giants like bitcoins, Ethereum and Litecoin, as seen in the picture below.
Delisting coins that are not attractive in the platform are common, meaning that your coins might become useless at any given time.
The only deposits and withdrawals that are available for you are concerning cryptocurrencies, as fiat money is not supported. USD, EUR and RUB currencies are available only as value indicators.
Coinmate, on the other hand, offers a wider variety, as you can use cryptocurrency, SEPA, SOFORT, MoneyPolo and bank wire in CZK as deposit/withdrawal methods. EXMO also offers more options, including bank transfers, credit or debit cards and e-payment systems (PayPal, Neteller, OKPay, EPay and several others).
You should also be aware that verification levels also determine withdrawal amount limitations. Email and phone verification would bring you $5.000 limit while scanned ID would allow you withdrawals of up to $25.000. You may deposit any volume of coins as you see fit.
Fees and Exchange Rates
Bleutrade charges buy fees for all altcoins in the range between 0.2% and 0.5%, depending on the overall company strategy. Currently, all of the coins are charged at 0.25% of the purchase and sell value. Depositing the cryptocurrencies to your balance does not cost a thing while each currency has its own withdrawal fee, as seen in picture below.
The fees are in line with other exchanges like Coinmate and EXMO, who offer variable fee programs. The programs are maker/taker oriented, with fees ranging from 0.05% to 0.35% with costs falling with sufficient volume.
The exchange rate is very narrow between buy and sell prices of the coins, providing very attractive trade margin for investors.
Almost all coins have very small liquidity rate when compared to other exchanges. With a large number of different coins and a small number of active traders, liquidity is the main platform’s weakness.
Not much is known about the exchange apart from the fact that it started its operations in 2014. Since its start, a reported 26.000 traders use the services with no confirmed hacking attempts made on the platform so far.
Bleutrade, apart from the standard username and password functions, offers only two-factor authentication (2FA) as a safety feature. Coinmate offers the same features, without any additional protection tools available for traders.
EXMO, on the other hand, holds an upper hand in the security section, as you have 2FA, IP list and enamel notification system, protecting your balances.
Pros and Cons
|⬤ no ID verification needed to buy, sell and withdraw coins||⬤ fiat deposits through bank transfers or credit cards are not available|
|⬤ low transaction fees for all coins||⬤ only instant exchange available as a trading tool|
|⬤ A large number of trade pairs (over 2.500 of them)||⬤ less known altcoins can be delisted any time|
|⬤ service is globally available||⬤ only 2FA is available as a security function|
|⬤ very simple and short verification process|
Overall, we would recommend beginners to use the exchange’s services as it has numerous trading pairs for you to experiment with. Experts might want to head over to EXMO and Coinmate as they have more trading functions.
Since verification is not needed and a large number of altcoins is available, Bleutrade serves as a perfect ground for you to exchange small trades.