Review on Vebitcoin by Naomi Ilani
VeBitcoin Exchange, Another Turkish Exchange Platform
The VeBitcoin exchange platform is yet another exchange platform that was founded in Turkey. This is proven by the manner in which they target the country's market- vehemently. This exchange platform has been able to stand out as one of the best in its country of location due to many reasons, some of which I would be discussing today.
First the security features, this exchange platform has been able to set up some security features to protect users funds from hackers. One of which is the use of cold storage to store funds. This happens to be really secured as the funds are not kept online, which happens to be very risky, but offline. The exchange platform also makes use of other security features which I don't really know about because I haven't gone through their verification process, the reason for not doing it is what I would be discussing next.
Just as I said earlier, the exchange platform seems to have the Turkey market in focus and this is proven by many factors which I would talk about. First is their interface. Their user interface happens to be translated in other languages aside English Language and these labguages includes: Turkish and Russian. Another proof is the fact that their interface was made too simplified. I guess this is majorly because most traders in Turkey are inexperienced and using such interface would be very relevant to them. The fact that they also make use of the country's fiat is another strong supporting evidence and finally, the requirements for successfully going through their verification process. When I tried going through their verification requirements, I discovered that I would needing some documents that can be gotten from the country only.
Their trading fee is also something to talk about as the exchange platform charges a flat fee of 0.2% for both the Makers and Takers of a trade. This happens to be a fee that is better than the industry's average. They also lack margin trading which I don't really feel comfortable about. This is also a contributing factor to the fact that they have their interface specifically designed for learners.
Pros
- The exchange platform charges a moderate fee of 0.2%
- They have a very simplified interface, though I find it too simplified
- The exchange platform has its interface in more than one language
Cons
- The exchange platform targets the Turkey market
