Review on TOPBTC by Fanuel PORPORTY
TOPBTC - What is this?
TopBTC is a cryptocurrency exchange which operates under the auspices of the Australian proprietary company called DABTC PTY Ltd, registered in Sydney, New South Wales. TopBTC currently holds the 277th position on CoinMarketCap in terms of declared transaction volume. The monthly volume of trade on this trade is $ 18.10 billion, which is a good performance, given its position in the ranking. As for the volume of 24h trading, it is generally in the range of 600 million dollars, thus providing sufficient liquidity even for trading large-scale operations. One of the most important positive features of TopBTC probably lies in the recent introduction of peer-to-peer exchange which presents itself as a superstructure on the basis of centralized exchange. This probably explains the recent increase in trading volumes, as more and more traders begin to realize the benefits of P2P trading.
Regarding trading costs, TopBTC imposes a fixed commission of 0.2% on manufacturers and lessees, which is deducted from the assets purchased. Deposits can also be made free of charge. Regarding withdrawal fees, company management has decided to exempt all registered users, which means that traders would only have to pay the minor's fees when withdrawing funds from the platform.
Pros
- Relatively large trading volumes that provide for sufficient liquidity;
- The availability of peer-to-peer exchange which adds to the platform’s versatility;
- Exemption from withdrawal fees for registered users.
- Slightly lower than average trading fees
- A decent number of trading pairs, though some coins can be labeled as risky
- Intuitive interface with well-designed charting.
Cons
- Looking at some comments from the users, TopBTC was involved with some negative cases such as coins being stolen, or some withdrawal orders being refused. Some customers complain about the long waiting time to get a reply to their emails, or the website not having a phone number to contact (although it has a chatbot and it seems active on Twitter, Telegram, and Shang). For these reasons, users have been doubtful that TopBTC may be a scam.
