Review on BITEXLIVE by Mehdi hazni
BitexLive Exchange
BitexLive Exchange is not a famous exchange among crypto exchanges in the world. The daily trading volume of this exchange is about $ 5 million at the time of writing this review. The number of pair markets of this exchange is currently only 41 pairs, among which there are unknown currencies. According to my survey in coinmarketcap statistics, 15 pairs of pair markets of this exchange currently do not have any daily volume!
Is it easy to become a member of this exchange?
Registration in this exchange has no special restrictions and email and password are the only parameters required to become a member. It is not possible to join with a phone number. After membership, an email will be sent with the account activation link.
After entering the activation link, you must log in to the account again from the login section, and it would be better for this exchange to recognize itself and not need to log in again. After logging in, a code will be sent to the email again, which must be entered to log in to the user account. In general, the registration and entry process in this exchange is time consuming.
Types of BitexLive exchange trades
BitexLive Exchange has a long way to go to become one of the best crypto exchanges. This exchange currently offers only one type of trade, which in other exchanges is referred to as Spot.
There are not many features available to the user on the trading page. For example, the ability to set stoploss and takeprofit is very important for professional traders and is one of the essentials for them. But Bitexlive has not made this possible for its traders.
Trading Fee of this exchange compared to other exchanges
The issue of trades fees is one of the important points in choosing the right exchange. Especially for those who are so-called scalp workers do a lot of trades every day and the amount of commission really plays a big role in their overall profit from this profession.
Unfortunately, the trading fee of Bitexlive exchange is higher than that of many exchanges. The exchange has set a 0.2% fee for both BTC, USDT and Alts pair transactions. Currently the trading fee of binance exchange is 0.075%. binance offers much more features to its users and due to the high volume of its pairs, there is no need to worry about the price difference between the lowest selling order and the highest buying order. So why should a user choose bitexlive between Binance and BitexLive ?!
What is the withdrawal fee in BitexLive?
Unfortunately, this exchange has no mercy on withdraw fees, and the fees I reviewed were several times higher than other exchanges for a cryptocurrency. The current fee for withdrawing ETH currency in this exchange is 0.015 ETH, which according to the current price of ether currency at the moment (about $ 2000), about $ 30 will only be charged for withdrawing this exchange!
Pros
- Many parameters are not required for the registration form
- Automatic confirmation by email is required when login
Cons
- Daily trading volume is low
- The number of pair markets is small and a high percentage of them do not trade at all
- Unable to register with phone number
- Offers only one type of trade
- Trading fee is higher than many popular crypto exchanges
- Withdrawal fees for some currencies in this exchange are much higher compared to other exchanges
