Bitonic Review – Exchange Guide
Bitonic’s native nation is the Netherlands. The exchange does not expressly forbid US-investors from trading on its exchange. In any occasion, all US-investors should in any case do their own independent analysis of any issues arising from their residency or citizenship.
BTC is the main available cryptocurrency at this exchange. If you need to exchange the less mainstream coins (AdShares, Ethbits Token, Octoin Coin, Origami Network Token, Sequence Token, or any coin with a comparative market capitalization to those), you’ll need to look somewhere else.
Continuously check the trading fees and withdrawal fees of an exchange you are interested in. We have not possessed the capacity to find this present exchange’s trading fees or withdrawal fees. This is possibly a hazard for you as an investor. If you can’t find them, they’re generally higher than you need them to be. Accordingly, we unequivocally ask you to make you possess analysis of the fees at this exchange before depositing any funds there and before concluding that it is the best cryptocurrency exchange site for you.
Bitonic offers wire exchange as a deposit method, but you can’t deposit by means of credit card. So if you’re a man who likes to flex your credit card wherever you go (even in the internet), this is awful news to you. However, as the exchange acknowledges deposit of fiat monetary standards by any means, it distinguishes itself from numerous exchanges that just allows deposits in digital forms of money.
Bitonic is one of the real Dutch players in the cryptocurrency space. It works two brands, one targetting beginners to the cryptocurrency space (Bitonic) and another for dealers (BL3P). This is a similar business model, as the one inferred by Coinbase and GDAX.
The company, security of funds
Bitonic is situated in the Netherlands and is a standout amongst the most eminent substances on the nearby market. They have been holding instructive courses and introductions at significant Dutch financial firms and colleges. Moreover they give an answer for online stores, who wish to begin accepting Bitcoin.
While the Bitonic mark has extended to offer a great deal of services, their main focal point of their site is selling Bitcoin, to individuals who are willing to enter the space subsequent to transferring fiat monetary forms. On the other hand dealers, can offer their coins available to be purchased at the site.
This exchange does not offer any wallets, much like BTCDirect, one of the other huge players from the Netherlands.
The company is mainly targeting the Dutch market, albeit all customers who approach their payment methods will most likely not be turned down. It merits pointing out their other image, BL3P just acknowledges European brokers.
Bitonic has not been the objective of a significant hack assault. This is not out of the ordinary with such a service – they just offer Bitcoin after users deposit cash.
The user reviews on Bitonic are generally in Dutch and blended. The company’s pricing approach (or the need there of) is the most regular issue, which is very reasonable.
The main cash supported by Bitonic is Bitcoin. While this may appear underwhelming, there are different exchanges, as Kraken, which support more resources.
Trading on margin isn’t supported by Bitonic. There isn’t highly need to explain why – this is basically a passage level company, allowing individuals to buy Bitcoin.
If you plan to enter the space, just to effectively theorize, dealing with a forex representative, similar to IG, is another alternative. That being stated, there are a ton of differences, the most prominent of which is that with forex intermediaries you just exchange Contracts For Difference or CFDs. This is a financial subordinate, which just follows the price activity of the given coin. Normally this suggests you won’t have the capacity to use real Bitcoin – you may estimate on its esteem. For more points of interest look at this post.
There is no unmistakable information on the fees, gathered by Bitonic. The company offers a rate, at which it offers Bitcoin, with the additional disclaimer, regarding price unpredictability and the speed of exchanges. This prompts the greatest issue with the company – you are never precisely certain what prices you will get.
Bitonic does not give a real trading platform, in any event from this brand. An interesting feature on the site is the bar in the best segment, which shows the present supply of Bitcoin available at the exchange.
This can hypothetically encourage huge investors, if the level ever drops too low. During the writing of this review, this did not happen.
Methods of payment
Bitonic acknowledges fiat payments through iDEAL, Bancontact and MyBank. These methods are pleasant, but adding more e-wallets, for example, Skrill and Neteller will draw in considerably more customers.
Bitonic is one of the leading Dutch organizations in the cryptocurrency space. They offer another brand BL3P, which is an exchange devoted towards merchants, while their main site focuses on accepting fiat money deposits and selling Bitcoin. Their notoriety is for the most part good, in spite of the reality their increase isn’t revealed. While the payment methods are brisk, the absence of straightforwardness in pricing will disappoint a few users. Here is a rundown:
- No real hacks yet
- A few payment methods (incl. instant)
- Simple to use interface
- No instant execution (price uncertainty)
- Lack of straightforwardness on fees
- Focus on the Netherlands (applies if you are not in NL)
- Just EUR exchanges supported