Bit-Z
- Overview
- Security
- User Experience
Volume 24H: BTC 25,604.0119/24h
Bit-Z is a digital currency exchange platform that offers support for Over-the-Counter (OTC) Trading. Launched in 2016, the platform gained fast traction by providing an easy and convenient way for users to buy or sell cryptos in numerous trading pairs against Bitcoin, Ethereum, and Tether. Recently, they launched their proprietary token, DKKT (DKK), which holds parity with Danish Krones.
This platform is mostly intended for experienced users from China who want to make OTC buy/sell orders with other users in a discrete manner. The platform's design is minimalist with easy to navigate options throughout the site. Since it allows users to create buy/sell crypto ads, this exchange is also well-suited to wholesale traders.
Crypto Currencies Support
- ARK
- BCH
- BTC
- DASH
- DOGE
- ETC
- ETH
- LSK
- LTC
- USDT
- ZEC
Traditional Currency Support
Language Support
- Chinese
- English
Country Support
- Australia
- Canada
- China
- European Union
- Hong Kong
- Japan
- Most Africa
- Most of Asia
- Most of Eastern European Union
- Most of Latin America
- Most of the Middle East
- New Zealand
- Norway
- Russian Federation
- Singapore
- Switzerland
- Turkey
- United Kingdom of Great Britain and Northern Ireland
- US partial
Platforms Systems
- — Api
- — Web Interface
Stock Market Options
Bit-z offers little to no information about their private key storage methods, although they offer wallets for many of the tokens they provide support for. They run on SSL servers and offer 2FA, but the security standard of this platform could be drastically improved by providing more account security options and more transparency abut storage on their site and FAQ.
Summary:
| 2 Factor Authentication | Yes |
| Funds Insured | Funds Are Not Insured |
| Private Keys Stored On | Exchange Platform |
| Storage Type | Hot |
Bit-z offers no information regarding the individuals behind the company that runs the platform. They have offices in Hong-Kong, Beijing, and Singapore. Bit-Z warns investors that its services might not be legal in certain jurisdictions and says it does not accept as clients residents of the Federal Republic of Germany or New York State in the USA, due to regulations in those regions.
Summary:
Bit-Z has large trading volumes and is mostly intended for Chinese investors who are interested in OTC trading. Given the fact that there is little to no information regarding the key people running this company nor their private key storage methods, users are advised not to store large amounts of crypto assets with this exchange. We recommend proceeding with caution when using Bit-Z.
| Ease of use | Developed |
| Transaction Fees | 0.1-0.29% |
| Deposit/Withdrawal Fee | 0.5-0.79%, 0/deposit |
| Deposit/Withdrawal Fee For Bank Transfer | N/A |
| Deposit/Withdrawal Fee For Credit Card | N/A |
| Deposit/Withdrawal Fee Charged For 3rd party Payments | It's Free (fees May Be Hidden) |
| Anonymous Trading | Yes |
Deposit/Withdrawal Options:
Deposit using 3rd party, Withdrawal funds through a third party, Send/Receive Crypto
Functionality:
This exchange offers support for a large number of tokens against 4 major markets, Bitcoin, Ethereum, USDT, and DKKT (their proprietary token). Users can trade anonymously up to a certain limit. Through OTC trading, users can set-up buy/sell orders protected by password or publish buy/sell ads for cryptos, which allows them to trade in a discrete manner.
Most common customer complaint:
— A lot of bad user reviews regarding scam allegations.