BitUBU Review
BitUBU is a cryptocurrency exchange based in Istanbul, Turkey. It has been operational since July 2019. Today, we will provide you with a Bitubu exchange review to help you make better decisions as you begin your crypto trading journey.
BitUBU advocates four points, specifically as reasons to use them as your trading platform: a powerful trading engine, 24/7 multilingual support, high-security wallets, and an optimized user experience. We will assume that both exchanges have optimized user interfaces. Nonetheless, the other key attributes are valid. When discussing their high-security wallets, BitUBU claims that 95 percent of all crypto assets are deposited in cold wallets, which is a pretty high figure. Not the best we’ve seen, but certainly not the lowest.
| Exchange platform | Bitubu |
| Website | https://bitubu.com |
| Variety crypto | 70 |
| Account needed | Yes |
| Verification | Mandatory |
| Verification levels | 2 |
| Trading Platform | Web-based, Application |
| Payment Method | Bank transfer, Wire transfer, Crypto transfer |
| Customer Support | Email, Twitter, Telegram |
What is Bitubu?
BitUBU is a centralized cryptocurrency exchange that began operations on July 17, 2019. The corporation is incorporated in Turkey, with its head office in Istanbul. BitUBU Technology Corporation licenses it. The founders do not wish to be identified, and there is little knowledge about them on the internet. The only thing we know is that their goal was to bring together a community that would foster the healthy growth of the digital asset ecosystem as a whole.
Users can trade fiat for crypto and crypto for crypto on BitUBU. Bitcoin, Dogecoin, Dash, Ethereum, and a few other coins are available for trading. BitUBU accepts USD and TRY (Turkish lira) as fiat currencies. Its key benefits include quick deposits and withdrawals, minimal trading fees, competent 24/7 customer support, and a strong technical base. The website owner hopes to make it the most sophisticated trading platform in the world of digital currency.
The BitUBU trading platform is appealing to traders due to its four main features. This includes an easy-to-use user interface, security, competent support, and a powerful engine.
The advanced user interface, which has two trading view versions, is designed for both novice and experienced users and includes charts and information boxes that are up to date. You will see current price charts, order history, a buy and sell box, and other features. Furthermore, the settings enable you to customize the trading view based on your preferences.
The platform offers help in various languages, such as English, Turkish, Russian, Korean, Chinese, Japanese, Spanish, Arabic, among others. There are also links to dedicated pages on all social networks. BitUBU’s wallet security is categorized into three layers. Furthermore, more than 95 percent of all crypto tools are stored on cold wallets for added security. The exchange engine on the platform can handle up to 20 million trades per second, enabling more traders to use it.
The project’s mobile support for Android devices is an extra helpful feature. You can get the app from Google Play to keep track of all changes when you’re on the go. According to Coinmarketcap, the exchange has no liquidity issues due to its high trading volume, ranking it in the top 100 exchanges.
Bitubu Trading services
BitUBU is a sophisticated trading platform for seasoned cryptocurrency traders specializing in Algos, Altcoins, and Performance. BitUBU, the ultimate cryptocurrency trading platform, offers sophisticated exchange functionality that allows users to trade coins/tokens.
Using faucets is the simplest way to obtain free cryptocurrencies on BitUBU. The platform has so far launched faucets for WEC, DOGE, and TCP. If you are not a trader, you may use the platform to acquire them. The token determines the number of coins and the time intervals between acquiring them. Only registered users can access this feature.
Bitubu Fees
The exchange charges you a trading fee any time you place an order. The trading fee is typically a percentage of the trade order’s value. At this exchange, they differentiate between takers and makers. Takers are the people who take an already placed order from the order book.
BitUBU charges takers 0.10 percent. These taker fees are in accordance with market averages worldwide. For a long time, the industry average was about 0.20-0.25 percent, but we now see more exchanges charge 0.10-0.15 percent instead, similar to BitUBU.
Makers trade at a (slight) discount to taker fees and pay 0.09 percent.
It should also be noted that if the 30-day trading volume hits those thresholds, you would be compensated with reduced trading fees. The UBU Token, the exchange’s native token, grants the eligible customer a trading fee discount.
Withdrawal and Deposit fees
BitUBU charges a rate of 0.0005 BTC per BTC withdrawal. This fee is comparable to, if not marginally lower than, the global market average. Currently, the global market average is about 0.0006 BTC per BTC-withdrawal.
The BitUBU platform is an example of an entry-level exchange, allowing newcomers without digital coins to access the world of cryptocurrency trading. As a result, fiat money deposits may be made alongside cryptocurrency deposits. However, users cannot use their credit or debit cards to add funds; only wire transfers are permitted. Joining the referral scheme is one way to maximize the UBU earnings passively. Traders can invite new users via their referral link and get a 25percentage share of the trading fees they pay to BitUBU. Commissions are credited to their accounts immediately.
BitUBU allows you to deposit fiat currency as well as for cryptocurrencies to the platform. However, only wire transfers are permitted (not credit or debit cards).
Since this trading platform accepts fiat currency deposits, it qualifies as an “entry-level exchange,” which means that it is an exchange where new crypto investors can begin their venture into the exciting crypto world.
Bitubu API
The BitUBU framework has an API (Application Programming Interface) for advanced users, which includes a cross-platform trading robot. Anyone that wishes to benefit from digital currency exchange can do so by using an arbitrage trading strategy.
BitUBU aims at the global market, with a focus on the Turkish market. The BitUBU trading platform has safeguarded its users’ funds with various protection mechanisms, starting with security features. We even know for a fact that they keep over 95 percent of their funds in cold storage. Since hackers may not have access to funds deposited offline, this is the most secure way of storing funds.
Bitubu Limits and Liquidity
To have top-tier results, the exchange has introduced cutting-edge technological innovations. The exchange has a high level of liquidity and a decent number of coins. This is far superior to what you can see on most Turkey exchanges.
The platform offers traders a seamless trading atmosphere and is an excellent option for professionals. Users have access to a high degree of liquidity across all trading pairs. Furthermore, the exchange permits withdrawal requests in sums higher than the specified limit. However, there are several limits on how much fiat currency may be deposited or withdrawn from the account.
BitUBU, a Turkish centralized market, offers advanced trading platforms for both experienced and inexperienced traders. In comparison to several listed cryptocurrencies, it offers moderate liquidity and maintains small and fast withdrawal fees.
In general, being constituted as a centralized exchange has some drawbacks in terms of trade freedom. As compared to decentralized exchanges, centralized platforms have not created much confidence. However, the exchange methods it employs are suitable for everyone. Furthermore, the assistance it offers is quite fast. Language adaptation eliminates the need for an interpreter to present challenges within the exchange.
The UBU token, which started as an ERC-20 token on Ethereum, functions as an asset to trade on the exchange while also lowering trading fees.
Bitubu Portfolios
Every financial service provider distinguishes itself by offering a variety of trading options. This will give traders a wealth of experience and expertise, enabling them to make informed trading decisions. The availability of such adaptable options has a huge effect on the trading experience of the customer.
Bitubu, like the other leading exchanges, does not lag behind in terms of portfolios. Using the exchange, users can distribute their funds across several portfolios. Depending on your funds invested, strategy, risk management goals, and profit targets, you can split your funds into various portfolios.
This feature is intended for experienced traders, as it may be counterproductive for beginners and average investors. With tools like this, users leverage their funds and can spend as they see fit. Portfolios can help with risk control in addition to enhancing the trading experience.
Cryptocurrencies Available
High trading volume is normally an indicator of high liquidity for any finance-related site. As a result, traders can complete transactions more quickly and at the best possible price. High liquidity also indicates that a specific financial market is competitive and low-risk.
Bitubu supports fiat currencies such as the USD, EUR, GPB, and popular cryptocurrencies such as BTC, ETH, XRP, LTC, BCH Basic Attention Token, Ethereum Classic, and many more.
Bitubu Interface
They aspire to have a well-secured, low-cost, and simple-to-use interface, and they’ve been able to do so thanks to the numerous features they’ve implemented. Bitubu platform has made its platform as simple to use as possible by making it easy to navigate. They do this to attract both seasoned and new traders.
Most cryptocurrency traders believe that desktop computers have the best trading conditions. The monitor has a larger screen, and on larger displays, more of the critical information on which most traders base their trading decisions can be seen simultaneously. The trading chart would also be more easily visible. However, not all cryptocurrency investors need desktop computers for trading. Some people like to trade cryptocurrencies on their phones. If you are one of these traders, you will be pleased to know that BitUBU’s is also mobile-friendly. The platform is currently available on Google Play, but the exchange’s website states that compatibility with iPhones is “coming soon.”
A trading view is available on every trading platform. The trading view is a section of the exchange’s website where you can display a cryptocurrency’s price chart and its current price. There are usually also buy and sell boxes where you can place orders for the appropriate cryptocurrency. Most platforms would also enable you to access the order history (i.e., past transactions involving the relevant crypto)—all in the same view on your desktop. Of course, there are discrepancies to what we’ve just mentioned.
How Secure is Bitubu?
Bitubu is a relatively secure exchange that has used geographically dispersed cold wallets, DDoS protection, routine stress testing steps, and multi-signature authentications to improve security. Bitubu employs several security features to keep safe customers’ funds and records. The following methods are used according to the website: common and industry-standard procedures for a cryptocurrency exchange.
The above-mentioned Cold wallets are offline. Their multi-signature feature eliminates a central point of failure and increases resistance to fund loss due to the loss of private keys. For day-to-day operations such as customer withdrawals, less than 0.5% of Bitubu assets are kept in a hot wallet. More than 99 percent of the funds are held in offline cold wallets that are not connected to the internet and require several signatures from the Bitubu team to access.
Furthermore, BitGo insures all funds, including users’ cryptocurrencies kept on MultiSignature cold wallets, thus insuring them to some degree. You can also read the exchange’s privacy policy to know more about their security.
Customer Support
According to Bitubu, providing the best services to customers is the secret to a business’s success. As a result, they have excellent customer service and assistance 24 hours a day, seven days a week. Users from various countries do not have to think about time zones because of this 24-hour support.
The exchange does not have phone support with a customer service representative. However, if you suspect a password inconsistency or a hack, you can contact Bitubu Support immediately so that your account can be deactivated. Following that, you will be asked to go through the account recovery process to re-access your account.
Onboarding, money management, and ticketing are all supported 24 hours a day, seven days a week. Furthermore, the current telegram and chatting time is between 6 AM-11 PM.
Because of these functionalities, users can get answers to their questions without having to wait hours for the next day. The Bitubu customer service phone number is not listed on their website, but you can email them at support@bitubu.com for assistance.
Referral Program
There is also a referral program on this trading site. You may invite your friends to the referral program, and when they begin trading on the exchange, you will receive a portion of the trading fees received by BitUBU. This can be a simple way for you to maximize your crypto earnings passively.
US-investors
Why are so many exchanges denying US citizens the opportunity to open accounts with them? The answer is – the Securities Exchange Commission. The SEC is so frightening because the US does not authorize foreign companies to approach US investors unless they are already registered in the US (with the SEC). If foreign firms continue to solicit US investors, the SEC has the authority to prosecute them. There are several instances where the SEC had prosecuted cryptocurrency exchanges, one of which was when they sued Ether Delta for running an unregistered exchange. Another instance was when they sued Bitfinex, claiming that the stable coin Tether (USDT) was deceptive. More events are likely to follow.
It is uncertain if BitUBU embraces US investors. There is no clear prohibition against US investors in their Terms and Conditions. However, we strongly advise any US investors to formulate their own opinion on the legality of their trading at BitUBU.
Pros
- It has multiple layers of security and uses cold storage to secure assets in a wallet.
- List more than 70 popular stable coins and cryptocurrencies on the market.
- It offers its UBU token, which lowers the exchange’s trading fee by a percentage.
- Provides both advanced and basic trading systems, making it suitable for both market experts and newcomers.
- Allows for the exchange of more than five languages, including English and Spanish.
Cons
- It is a centralized exchange
- The trading volume is not as high as other major exchanges in the industry
Conclusion
BitUBU is a Turkish crypto exchange company based in Istanbul that launched in 2019. It has approximately 100 trading pairs. The BitUBU exchange platform is targeting the global market, with a focus on the Turkish market. They aspire to have a well-secured, low-cost, and simple-to-use interface, and they’ve been able to do so thanks to the numerous features they’ve implemented. It provides multilingual 24/7 customer support and has a highly secure wallet where 95 percent of the assets are kept cold for safekeeping. It has a strong and powerful trading engine and a user-friendly interface. For an on-the-go experience, it can be accessed via Android mobile devices.
BitUBU has a referral program in which users can gain passive income by referring new users. It charges 0.10 percent as trading fees for takers and 0.09 percent for makers, with withdrawal fees of 0.0005btc, making its fees extremely competitive. It only accepts cryptocurrency and fiat deposits via wire transfer.
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