Review on Bitinka by Olugbenga Ajayi
Bitinka charges high transaction fee
Bitinka is a crypto exchange that is domiciled in Peru. It was founded by Roger Gabriel in 2013. The exchange has a few crypto currency on its market and also supports many flat currencies that are popular in South American countries like Bolivia, Argentina, Peru.
The exchange does not have a downloadable app but the web based platform easily run on both mobile and desktop.
The exchange boast of 100% security and high commission on all operations as well as low fees on transaction but the figure shows otherwise. What I mean is that for an exchange that 0.50% transaction fee on makers and takers cannot boast of low fee. Moreover their withdrawal fee of 0.20% which is based on the withdrawal amount is rather too high particularly when one is withdrawing a large amount.
Moreso, even though this exchange is still operational as at the time of this review, there are so many negative comments from their investors which should not be thrown into the air. While some investors tagged it as scam, others were specific enough to mention their flaws which is failure to confirm withdrawals.
Conclusively my take on this exchange is that users should stare clear of this exchange for now.
Pros
- The platform is attractive, easy to use and navigate
- It supports many flat currencies and a few major cryptos
Cons
- It does not have mobile app
- Transaction fee and withdrawal fee is above industry standard
- Generally there are many negative comments about them lately
- Some necessary analytical tool for profitable trading is missing on the platform
