BTC Markets
- Overview
- Security
- User Experience
Volume 24H: BTC 600/24h
BTC Markets is a reasonably-sized marketplace based in Melbourne, Australia that supports multiple cryptocurrencies and Australian Dollars (AUD). They aim to support the paradigm shift in the financial industry towards digital assets. They have seen constant growth over the last few years. Their trading fees are a little higher but their deposit and withdrawal fees are very low.
BTC Markets is relatively easy to understand for all kinds of users, including beginners in the crypto world. The website provides useful information about trading and the team offers good support online. It's not the best solution for storing coins long-term, as the company themselves recommend a third-party wallet for that purpose. The design is user-friendly and professional.
Crypto Currencies Support
- BCH
- BTC
- ETC
- ETH
- LTC
Traditional Currency Support
- AUD
Language Support
- English
Country Support
- Australia
Platforms Systems
- — Api
- — Web Interface
Stock Market Options
BTC Markets offers a managed wallet service, but they recommend that users store their funds on a third-party, secure wallet rather than on the platform, especially for the long term. They claim their user funds are kept securely in both cold and hot storage. They run reconciliations of funds several times a day to ensure they have a full reserve.
Summary:
| 2 Factor Authentication | Yes |
| Funds Insured | Funds Are Not Insured |
| Private Keys Stored On | Exchange Platform |
| Storage Type | At Least 80 Of User Funds Are Stored In Cold Storage |
BTC Markets was founded in Melbourne, Australia, and it is one of the leading crypto exchanges in the country. The founder's name is Martin Bajalan. They have had some disagreements with the government regarding regulation of cryptocurrencies, but are currently in agreement over the proposed laws that will soon be applied to the digital currency market in Australia.
Summary:
BTC Markets is one of the most popular exchanges in Australia and it is only available for Australian users. It has good functionality and new coins have been added to the exchange since it was first released. There have not been any important security issues. Users are attracted to the exchange's relatively low deposit withdrawal fees.
| Ease of use | Intuitive |
| Transaction Fees | Between 0.20-0.30% Depending On Volume |
| Deposit/Withdrawal Fee | 0.0005-1 Crypto Unit/withdrawal, Depending On Cryptocurrency |
| Deposit/Withdrawal Fee For Bank Transfer | It's Free (fees May Be Hidden) |
| Deposit/Withdrawal Fee For Credit Card | N/A |
| Deposit/Withdrawal Fee Charged For 3rd party Payments | 3.30aud/deposit |
| Anonymous Trading | No |
Deposit/Withdrawal Options:
Deposit from bank account, Deposit using 3rd party, Withdrawl funds to bank account
Functionality:
BTC Markets offers users the typical functions of a crypto trading platform, and is known for its low deposit and withdrawal fees for cryptocurrencies. There is a fixed fee for depositing AUD, which can be deposited on the platform using the POLi payment service, which works with various Australian banks.
Most common customer complaint:
— slow transaction processing