This review concerns Bleutrade, an online exchange platform that offers services regarding cryptocurrencies. The information that you will get from this article will help you choose the best option available to you as a trader.
The investigation contains personal take on the online business, with pros, cons and concluding remarks serving as a general remark on the exchange.
About the Exchange
With over 2.500 trading pairs to offer, this Brazilian-based exchange excels when it comes to crypto coin offer. Traders have over 100 cryptocurrencies at their disposal, with all popular digital coins available, bitcoin, Bitcoin Cash, Ethereum, Litecoin, Zcash and many others. The platform supports ICO projects and tokens that come out of them, thus the list can grow or shrink depending on how successful startup fundraisings are.
There is no margin trading at Bleutrade since only instant swap exchange is accepted. Fiat money is not supported, even though cryptos are evaluated in terms of USD, EUR, and RUB, as seen below.
Registration and Verification
Registration process follows the standard procedure, with you providing email and password codes. The verification of your identity is not needed, as you would be required to verify your phone and email number for trade, without any other personal details. You do not even need to provide your real first and family names.
With the phone and mail completed, you can deposit, trade and withdraw cryptocurrencies at your leisure. Since fiat money is not available, Bleutrade follows the route of Kraken and Exmo, both of which offer cryptos and small purchases for unverified users.
AS the company operates under no regulations or privacy policies, anyone with coins can trade at Bleutrade. All you need are wallet addresses for coins that interest you, no matter where you happen to be living.
Deposit/Withdrawal Methods and Fees
You can deposit and withdraw a number of cryptocurrencies, instantly and for low network fee. The trade itself has a fee structure that ranges from 0.2% to 0.5%, depending on the trade volume achieved on monthly basis.
Even though fees are in line with Coinmate and Exmo, fiat deposits and withdrawals are not possible, cutting out an important section of trade in our opinion. The speed of transfers from and to external addresses depends on the confirmations needed to finalize the transfer, as seen in the picture below.
When compared with Exmo, who offers two-factor authentication (2FA), email notifications and IP address check, Bleutrade falls short of the standard. The only tool available to you is 2FA tool while the company is not responsible for the coins kept on the platform.
Without proper protection functions, your balance would be at the mercy of hackers and other cybercriminals.
Pros and Cons
+ over 100 crypto coins available, making up 2.500 trading pairs
+ new ICO tokens available on a daily basis
+ globally available exchange
+ verification of identity is not needed for trade
– only 2FA available as protection functions
– no fiat currency trade or deposit/withdrawal
– no margin trading functions
Since security is of low level, beginners might try this one out to test different altcoins and ICO projects. Even experienced market players would find the ICO section interesting, though, without complex trade functions, there really is not much to do at Bleutrade. Armed with over 100 cryptos and no fiats, Bleutrade is an interesting platform to get rid of altcoins you do not need. Just make sure you do not put too much volume, as security is lackluster.