BTC-e review: an average bitcoin exchange
Bitcoin, Bitcoin Exchanges, Bitcoin Startups, Exchange Companies Reviews, Exchange Reviews

BTC-e review: an average bitcoin exchange


BTC-e is a cryptocurrency trading platform and exchange, headquartered in Bulgaria, owned by ALWAYS EFFICIENT LLP.

Its website was launched in July 2011 as a test site and became fully-fledged a few months later.

The exchange supports international fiat currencies like the US dollar, Russian ruble, and Euro. On the side of digital currencies, the platform supports; bitcoin, litecoin, namecoin, novacoin, peercoin, dash, and ethereum classic.

BTC-e started around the same time with other giant bitcoin startups. Along the way, the exchange has garnered two things in large measure: success and criticism; success in the sense that it did overcome a hack-job and went on to be a high-volumes trader, and criticism for its rumored hostility to customers.

Getting started

A new user can access the website without even registering for an account. But obviously, if you’re going to trade, you must sign up for an account.

Their user interface may not be characterized by simplicity and responsiveness, an obvious downside, but they win points for providing Russian and Chinese translations.

Once you have signed up and logged in, you can start trading, as the buy and sell buttons are conspicuous on your screen. You may not, however, withdraw money until after three days, in which they verify your identity. In relation to that, you must submit your personal identification documents.

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Currency pairs

⍟ BTC/USD

⍟ BTC/EUR

⍟ BTC/RUR

⍟ EUR/USD

⍟ LTC/BTC

⍟ LTC/USD

⍟ LTC/RUR

⍟ NMC/BTC

The exchange supports many integrations for both deposits and withdrawals e.g. sepa, bank wire, qiwi, payeer, okaypay, liqpay, epese, and ecoin.

Security

On July 2012, trading came to a halt after hackers compromised the exchange. They made away with bitcoins valued at around $40000. Thankfully, the exchange had been insured against loss, and it did resume work rather than “loot” their customers’ deposits.

Users should activate the two-factor authentication and be wary of clicking suspicious emails because they may have originated from “phishers”.

Complaints    

I admit that BTC-e receives a lot of criticism from its users. It’s said that the staff is quick to ban user accounts on the slightest/nonexistent excuses. Also, their chat box is said to be of not so much use. And if you look at the review sites, it’s hard to come across a customer who’s satisfied with BTC-e.

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Conclusion

It seems that this company hasn’t known how to cater to their customers yet. In light of the bad reviews that the exchange receives, there’s lingering suspicion that they may scam you. I’d advise anybody to use BTC-e for their buying only. Just buy and move your digital assets to a hardware wallet.

Visit BTC-e  


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