Bitfront is a cryptocurrency exchange. If you are familiar with the crypto market, you may have come across many exchanges, and all of these seem more or less the same but certain features and services set these exchanges apart. That is why I have written this Bitfront review because it is a cryptocurrency exchange that is really unique and has a lot to offer to its customers.
Many people still get confused as to what a cryptocurrency exchange is what sort of service it provides. Here is a breakdown so you can understand better. In the world of crypto, a buyer and a seller interact by trading. An exchange helps both the buyer and seller by providing them a platform where they execute their trades. So the exchange is a way by which cryptocurrencies can be traded in various other currencies such as fiat or digital. Now you may question that how do these exchanges benefit financially through providing this service. Well, when a buyer, seller, or company uses their services for trades, exchanges, or conversions, a fee is charged, and that is how these platforms flourish. Now each cryptocurrency exchange charges different fees depending on the countries that they deal in, currencies that are provided, and many other factors.
There are also two types of crypto exchanges that you will come across. Some are categorized as centralized exchanges, whilst others are called decentralized exchanges. Now, what does this mean exactly? If you want a cryptocurrency exchange that behaves like a third party for the person who buys and the one who sells, then you would be choosing a centralized exchange. These ones are operated through a company and are usually considered as the more trustworthy option.
On the other hand, you can opt for the decentralized cryptocurrency exchange. This is an exchange that does not have a role of a third party. Rather users can carry out direct transactions without the involvement of any additional person or group. Many users prefer this over centralized exchanges, but it all comes down to preference and priority. Each type has different benefits and risks to offer. This is why you should be careful of whichever cryptocurrency exchange you decide to go with.
As a user your preferences are a top priority, and you cannot risk anything only for that to result in a loss. This is why buyers and sellers should conduct research on the exchange they want to use before they start. This way, you will be aware of the services that it is going to provide.
Security is another highly important factor you should take into account. No matter what, the security of your information and funds should never be compromised. This is why it is recommended that you choose the exchange which understands the concern for safety just like a user would.
To make it easier for the users out there who might be looking for a good cryptocurrency exchange, we have written this review on Bitfront so that you know what a good exchange consists of. Yes, it is true that the market has lots and lots of exchanges that people can choose from but would you really want to risk your career for a scam exchange? To protect people from making any mistake, we have carefully written this article after analyzing many customer reviews and studying different experiences. Read further to find out why Bitfront is worth a try and which features and services make it a unique exchange.
Overview of Bitfront
This is a cryptocurrency exchange that is based in the United States. It was first established in 2018 and has grown rapidly ever since. This is a really good crypto exchange because it has never limited its customers but rather gives them the freedom to choose from many options. It has continued to provide users with many cryptocurrencies that they can trade. There are seven cryptocurrencies that users can trade, and this is a huge number. Very few exchanges provide users with more than 2 or 3 options, and that restricts customers a lot. But to allow users to broaden their experience and not make the process difficult, Bitfront is very flexible. These supported cryptocurrencies are:
- Bitcoin (BTC)
- Ethereum (ETH)
- Tether (USDT)
- StableCoin (TUSD)
- Paxos Standard Token (PAX)
- Chainlink (LINK)
- Bitcoin Cash (BCH)
The competition has dramatically increased amongst everyone in the market, and this has occurred between cryptocurrency exchanges too. Just like the rest, these also compete to get the most users, viewers, and a good reputation. But every exchange is not the same, some which are like Bitfront, offer different services that customers appreciate more. These will be discussed in detail so that you know what qualities make an exchange different and help you decide what features you are looking for.
Customer Support at Bitfront
This is a feature that has been overlooked a lot. Customer support is a very important thing, and every platform should take it into consideration. But many do the opposite and think that not providing a service that would provide support and help to customers is not a big deal. What these exchanges do not realize is that when customers do not get the help they require, they do not stick around. This is a factor many users consider because when there is something complex that cannot be understood, then they will need help, and only a team of professionals can do that.
With Bitfront, customers will never feel neglected as this platform prioritizes providing customers with the help they need. It is also one of the unique features of Bitfront that distinguishes it from the rest of cryptocurrency exchanges. If customers face any troubles, they can reach out to Bitfront and talk to the professional team by joining the live chat. This service is available seven days a week, so really there is no time limit. Also, to help customers from different regions and countries to get the help they need, over 15 different languages are available at Bitfront. Traders usually find these features very attractive.
This is because any time a problem arises, or you are having any difficulty navigating the site or anything else, you can always reach out and ask for help. The response is very quick and efficient too. Many customers have had positive feedback. Also, due to the various languages, users do not hesitate to reach out because they do not have to worry about language differences.
Trading view of Bitfront
The trading view is something that every platform has. You may be questioning what is meant by the trading view? A lot of people are not familiar with this term because it is not frequently heard of, at least not like this. People are more used to hearing price charts. So basically, a trading view is a section on the exchange site where price charts for cryptocurrencies are displayed. The trading view is made public, and this section is created for customers solely. It acts as a source that regularly updates them on cryptocurrencies and the current prices as well. This way, users always have a source to refer to when they want to check prices.
Additionally, you will also come across what are called boxes for buying and selling. This is once again a relatively different term, and people get confused when they hear it. But these boxes allow buyers or sellers to come and place their orders according to what they are looking for. So you would choose what crypto you want to deal with and then place the order to buy or sell that. This feature has made exchanges very easy and quick too. There is no complicated process users have to go through to access the markets and then place the order to either buy or sell.
Other than this, customers also get the chance to view transaction history or order history. This is a list that contains the path that the crypto has been on, so you get to find out when it was bought, when it was sold, how many times it was bought or sold. Many users seek out this feature because they want to know whether the cryptocurrency they are buying is authentic or not. Users also fear getting scammed, but when you get to view the transaction history, then that is a sort of evidence you cannot deny.
Bitfront offers all these services and makes sure that customers are equipped with the best tools so that their trading career keeps on improving. By making sure that the trading platform has a trading view, where users can view the prices, buying, and selling boxes that make it easier to set a price and exchange and order history, the chances of users being scammed are reduced. The experience of exchange is improved as customers have the tools to help them be more aware of the market and the current prices. This way, before making any mistake, they can check the trading view, which is literally on the site, and just check everything one more time.
Another great thing about Bitfront’s trading view feature is that customers get to choose how their trading view should be like. This means that if anything regarding the trading view is not up to your liking, then you can easily change it. This platform allows its users to customize according to what their preference is so that the trading view is exactly how you want it. This way, customers get the chance to make their trading views unique, just like them.
Trading fees at Bitfront
As discussed earlier, every exchange charges its customers a fee every time they make a trade or transaction. This means that Bitfront has a sort of commission. But not all exchanges are so lenient and considerate of their users. Rather they just think of it as business and charge a lot. Although for them, this may not be a big deal, it does affect users as fees are an additional cost they have to worry about. Those who are just beginning out in this field might not even have a lot to pay for the exchange’s services. But this is why Bitfront is an incredible exchange for cryptocurrencies. It puts its customers and their comfort above its own, which is rare to see in the crypto market.
There are different ways that exchanges charge their customers for transactions. One of the ways trading fees is charged by a percentage. So every transaction or trade order has a certain value, and a percentage of this is considered the trading fees. This can be divided between a taker and a maker. One, let’s say the taker is the person who takes an order while the maker provides it.
The other way for exchanges to charge customers is by a method called flat fees. This way, both takers and makers get charged the same fees. So if the trading fee is calculated to be 0.20%, then both the taker and the maker will pay 0.20% each. This is another feature that is prominent in centralized exchanges within the market. The percentages have also started to drop in the market. So before, it used to be around 0.20% to 0.25%, but now it is set at 0.10% to 0.15%.
Withdrawal fees at Bitfront
On this cryptocurrency exchange, users get charged a withdrawal fee. This is a standard that is set amongst the cryptocurrency exchanges, so it is nothing unusual. However, what is different is how much an exchange charges as that varies from one exchange to the next. So for every Bitcoin withdrawal, users will be charged a total of 0.001 BTC withdrawal fee. If this price is compared with the rest, then it is obvious that it is higher. So Bitfront does charge a withdrawal fee that is a little bit higher.
Many others in the market offer a withdrawal fee of around 0.0006 BTC per Bitcoin withdrawal, and like I have already stated, Bitfront charges a bit more. But it is an exchange that does not complicate the withdrawal process for no reason. But rather, it has made it much easier for its users. So when you work with Bitfront, you will realize that withdrawing an amount is really easy and quick. As the purpose of this crypto exchange is to make trading cryptocurrencies easier in the real world, it has allowed the process of withdrawing Bitcoins simpler too. This way, you will not be kept waiting for days or have to fill long forms in order to get the withdrawal accepted.
Options for Deposits at Bitfront
At Bitfront, you will come across different options for depositing. This is one of the good things about this cryptocurrency exchange as it makes the process easier for its users and gives them options to choose from. So the first one customers can choose to deposit in the form of cryptocurrencies. Now, this is the most common option that is provided by exchanges in the trading market. However, it is not always the most convenient for everyone. If we take a look at people that are new to trading, it is most likely that they would not have cryptocurrencies as their careers have not taken off so quickly, or they just do not have enough to buy cryptocurrencies.
That is why another option exists, too, that customers can deposit in the form of fiat currency. This allows users who might not have cryptocurrencies to also start and use Bitfront’s services. The option that Bitfront provides for depositing is through a wire bank transfer. So this means that credit or debit cards cannot be used. These features have also allowed Bitfront to be labeled as an exchange for entry-level, which means that cryptocurrency investors that are new can easily start trading and not having to worry about having certain achievements to qualify.
Security at Bitfront
Now every person in this crypto world is aware of how important security truly is. An exchange that cannot promise you a secure platform where you can easily invest is of no use because why would a person risk so much that can possibly lead to information being leaked or funds being accessed. But this is a site that assures its customers that the time they spend on the site would never endanger them, nor would it expose them to hackers or scammers.
Bitfront is one of the top platforms in the market that is widely recognized for its security infrastructure. It is a platform that has used the most recent and developed technology to ensure user’s safety. This has been carefully built by LINE, with which Bitfront is closely linked. Another method that grants customers safety is that Bitfront stores most of its user’s assets and funds offline. This way, hackers cannot access it.
This article has shown that Bitfront is a cryptocurrency exchange that has some of the most wanted features and services. As the times are changing and the digital world is becoming the predominant ruler of every field, exchanges have to be built in a way that allows users a safe and successful experience. And although the competition has massively increased, Bitfront has provided its users with exactly the features they are in search of. It is a secure platform with the easiest ways to deposit and withdraw. It also allows users to access updated and developed tools to help in trading. So if you are looking for a progressive platform that would make the transformation from digital to real-world easier, then Bitfront is the good option.