Bitrue Review 2022: Is It Still Safe To Use?

Updated: May 13th, 2022
Kevin Groves
Kevin Groves
Bitrue Review 2022: Is It Still Safe To Use?

Finding a trusted cryptocurrency exchange with a large selection of XRP trading pairs with reasonable trading volume and liquidity can be a difficult task. Bitrue is a Singaporean cryptocurrency exchange with more than 50 XRP trading pairs. In this review, we will assess whether Bitrue is a good place to trade XRP and other cryptocurrencies.

HedgewithCrypto Score
HedgewithCrypto Score
3.8/5Our ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
StarStarStarEmpty StarEmpty Star
Visit Bitrue


Trading Fees:0.28%
Country:Global (USA allowed)
Promotion:None available at this time

Key Features

  • No KYC to start trading
  • US crypto traders allowed
  • Over 200 coins available to trade, with more than 50 XRP-based trading pairs
  • Intuitive trading platform with TradingView charting features
  • Bitrue Piggy Bank to earn staking rewards up to 12% APY
  • Deposit funds to loan out USDT, BTC, XRP or ETH at competitive rates
  • 30% affiliate program

One of the most popular exchanges that specialized in XRP trading is Bitrue, that reportedly facilitates more than 10% of all XRP trading volume. For investors that want to trade XRP there are over 50 different pairs to speculate on.

Aside from XRP trading, Bitrue offers an advanced user-interface with Tradingview charting, as well as financial services such as lending and borrowing products.

Key Features

  • No KYC to start trading
  • US crypto traders allowed
  • Over 200 coins available to trade, with more than 50 XRP-based trading pairs
  • Intuitive trading platform with TradingView charting features
  • Bitrue Piggy Bank to earn staking rewards up to 12% APY
  • Deposit funds to loan out USDT, BTC, XRP or ETH at competitive rates
  • 30% affiliate program

One of the most popular exchanges that specialized in XRP trading is Bitrue, that reportedly facilitates more than 10% of all XRP trading volume. For investors that want to trade XRP there are over 50 different pairs to speculate on.

Aside from XRP trading, Bitrue offers an advanced user-interface with Tradingview charting, as well as financial services such as lending and borrowing products.

Ease of useStarStarStarEmpty StarEmpty Star
ReputationStarStarStarStarEmpty Star
Deposit methodsStarStarStarStarEmpty Star
FeesStarStarStarEmpty StarEmpty Star

This post contains affiliate links with our partners who may compensate us. Read our disclaimer for further information.

What Is Bitrue?

Bitrue exchange is a trading platform that was launched in 2018 to focus on allowing customers to buy and sell Bitcoin and cryptocurrencies in a safe and secure environment. The exchange is available globally with offices located in the United States, Europe and within the Asia Pacific region. Bitrue has a long-standing relationship with Ripple and is well known for offering a wide variety of trading pairs using XRP as a base currency to buy and sell crypto.


Bitrue Overview

Exchange NameBittrue
Fiat CurrencyUSD, EUR, GBP, JPY, HKD, AUD, SGD & MXN
Payment TypeWire transfer, ACH transfers and credit card
Trading Fee0.098% to 0.28% per trade
Deposit Fee3.5% per transaction for credit card
Withdrawal FeeNone
Mobile AppYes (Android & iOS devices)

Pros & Cons

Bitrue is an excellent trading platform for individuals that want to trade using XRP as the base pair. With over 50 XRP trading pairs and 114 supported crypto assets, Bitrue is geared for customers that want to grow their XRP portfolio. The disadvantages and limitations include several security incidents in the past and technical issues on the mobile app.

Has Bitrue Been Hacked?

Bitrue has been involved in several security incidents including the crypto exchange hack in 2014 that resulted in $4.5 million worth of crypto being stolen from its hot wallets. Customer funds that were lost in the hack were reportedly reimbursed by the exchange soon after. Due to the exchange's security architecture, the vast majority of user's funds were stored in offline multi-signature cold wallets and unaffected by the hack.

Is Bitrue Still Safe?

Bitrue provides several industry-leading security features to ensure funds and personal information are kept safe and secure such as 2FA and cold storage wallets that hold 99% of user's assets. Since the Bitrue hack in 2014, the exchange has been incident-free and is now considered a safe platform to trade crypto. The website has been individually assessed by third party security companies such as Mozilla Observatory to check for vulnerabilities and security weaknesses. 

Bitrue Compared

Cutting-edge security measures, an intuitive user interface, the ability to earn passive interest on crypto and a mobile trading app are important features on Biture. This comparison table lists alternate trading exchanges like Bitrue to buy and sell crypto.

Features & Benefits

XRP Focussed Trading

Bitrue is best suited for investors and traders that are looking to trade XRP pairs to accumulate the tokens. The exchange added XRP as a base pair in July 2018 and now has over 50 trading pairs to buy and sell against XRP. According to the Bitrue website, more than 10% of the world's trading volume for XRP occurs on their platform.

Bitrue Piggy Bank

Bitrue has introduced a new featured called the 'Piggy Bank' which allows verified users on the platform to deposit funds and participate in a staking pool. The feature is on a first-come-first-serve basis, therefore the funds must first be deposited to the wallet to be eligible. Bitrue has recently added support for popular tokens such as DOGE, SAFEMOON, SHIB, SOL, HBAR and others with an Annual Percentage Rate (APR) of up to 12%.

Related: What is crypto staking and is it safe?

interest earninginterest earning

The minimum amounts to get started is quite low and suited for beginners. For example, the minimum deposit amount for Bitcoin is 0.01 BTC that can earn 4% per year. Holding 2% of funds in BTR tokens can raise the interest rate up to 4.13% with no lock-up periods. This means the users can withdraw the asset at any time, however, the pools sell out quick and need to be quick.

Bitrue Loans

Similar to crypto interest platforms such as BlockFi and NEXO that allows its customers to deposit crypto and take out loans, Bitrue has its own lending service called Bitrue Loans. The supported coins that can be pledged are BTC, XRP, ETH, VET, ADA, USDT, TUSD, PAX and USDC. Each coins can be deposited to borrow USDT, BTC, XRP or ETH.

The benefit of taking out a loan against an asset is to leverage capital to use elsewhere without selling your coins and triggering a taxable event. The interest rates are calculated daily with flexible repayment schemes available. For example, to borrow USDT the daily interest rate is between 0.024% and 0.072%.

Bittrue LoansBittrue Loans

Is Bitrue Regulated?

The crypto exchange is based in Singapore and available to use worldwide. There is limited information available on its regulatory compliance in supported regions and the Service Agreement states the individual must adhere to the local laws and regulations of their country. However, the Bitrue website does not state if the exchange is licenced or regulated in any country its operates within.

Accepted Countries

Bitrue is a global cryptocurrency trading exchange that is available in several countries such as the United States. However, due to applicable laws, regulations and policies, residents in the state of Texas or New York within the USA are not permitted. Other countries that are forbidden to use the Bitrue platform are China and counties on the OFAC list.

Volume & Liquidity

Bitrue is currently the 64th largest cryptocurrency exchange in the world by traffic, liquidity, trading volumes, and confidence in the legitimacy of trading volumes reported according to coinmarketcap. At the time of writing, Bitrue processes over $20 million in daily transaction volume, with BTC/USD and XRP/USD its biggest trading pairs. 

The exchange is popular for its XRP trading pairs, however, the XRP/USD has a low liquidity score of 278/1000 which indicators high slippage on large order sizes compared to other exchanges with higher trading volumes for this pair. The overall trading volumes are similar to Zipmex, which is another cryptocurrency exchange in Singapore with similar features to Bitrue.


Getting Started & KYC

To get started with Bitrue, new customers will need to create an account and login to the platform. As the exchange is predominately a crypto-to-crypto trading platform, there is no requirement to complete a ID verification or KYC process immediately. Users can deposit funds and begin trading immediately using the exchange. To access the additional features such as Bitrue Loans, the account will need to be verified by uploading personal identity documentation.

Depositing Funds

The easiest and quickest way to deposit funds to Bitrue without any verification is to transfer cryptocurrency. The exchange supports over 200 coins that can be deposited. The process to add funds to an account is similar to other trading platforms which involves selecting the asset and copying the unique wallet address or QR code.


There is also the option to buy and sell crypto with fiat currency to fund a new account or top up the trading balance of an existing account. Bitrue's Over The Counter (OTC) desk is a third-party platform integrated with the exchange to send a wire transfer using ACH for USA investors, or an international wire transfer.

The minimum amount for ACH transfer is $500 up to a maximum of $1,000,000 per day. Using this service does have a fee of 0.08% on the total transaction amount, which can be avoided by finding a zero-deposit fee exchange. For example, USA crypto exchanges such as Kraken and Gemini offer free deposit fees for wire transfers using USD. The purchased coins could then be transferred back to Bitrue, however, there is no real incentive to do this.

fiat depositfiat deposit

There is also the option to buy crypto using a credit card through the payment provider Simplex. This is an external service provider that charges fees of 3.5% per transaction or 10 USD, whichever is higher. Mastercard and VISA payments are fast and secure with the coins arriving to the Bitrue wallet between 10 and 30 minutes. However, in our opinion it is not recommended to buy crypto with a credit card due to the high fees.

Trading With Bitrue

The trading and charting user interface on Bitrue has a close resemblance to the advanced mode on Binance, which is the largest and most widely used trading platform for buying and selling digital currencies. The charts and trading tools are powered by TradingView which offers hundreds of technical indicators and drawing overlays. There is a Day and night mode to change the background colour of the user interface which is a nice feature. 

user interfaceuser interface

The selection of order types on Bitrue does not match the variety offered on Binance, however, does include the most widely used orders such as Market, Limit and Stop-Limit. One feature that is not offered on Biture is One-Cancels-the-Other orders. In our opinion, the ability to set a take-profit and stop-loss trigger on the same order are very useful for short term timeframe traders and beginners to manage trade risk.

Overall, charting and trading on Bitrue is good for altcoin traders who can benefit from the selection of technical indicators to analyze the charts and place orders in the market. Some improvements that could be made are added support for risk-management order types, trade position size calculator and price alerts.

Exchange Fees

The fees on Bitrue depend on the trading pair selected that varies between 0.098% to 0.28%. The more liquid trading pairs against BTC, ETH and USDT have a trading fee of 0.098% per transaction for buy and sell orders. XRP trading pairs have a 0.2% or 0.28% trading fee applied. Paying for transaction fees using Bitrue's native exchange token BTR applies a 30% discount.

The overall trading fees are quite competitive in the market particularly for BTC, ETH and USDT pairs. For example, the fees are slightly cheaper compared to Binance and KuCoin that use tiered fees that start from 0.1% per buy/sell position. However, the different fees based on the trading pair can become confusing for new investors on the platform.

OTC Trading Fees

All Bitrue users that have a KYC verified account can use the OTC desk to buy crypto with fiat currencies. The fees to buy crypto with traditional money varies depending on the trade size however ranges between 0.08% and 2% per transaction. The fees reduces for larger transaction sizes which is beneficial for high net-worth individuals. Lower purchase amounts between $2,000 and $10,000 will be charged with a 1.5% premium.

VolumeTrading Fees

Deposit & Withdrawal Fees

Bitrue is a cryptocurrency trading exchange that does not charge a fee to deposit funds using digital currencies. The fees for withdrawals are dependent on the coin and the blockchain network congestion at the time. Bitrue does not appear to charge a fee to withdraw crypto from its exchange to an external wallet. For example, Bitcoin is listed with a 0.0005 BTC withdrawal cost which is the standard network fee.

Users that sell crypto back to fiat currencies and withdraw to a bank account will be charged a wire transfer fee. For amounts between $500 and $10,000, a bank wire fee of $30 will be applied. For amounts greater than $10,000 there is no fees to withdraw fiat to a bank account.

Bitrue Mobile App

A mobile app is available to download for Android and iOS devices that allows users to replicate the trading features available on the desktop version of Bitrue. The app has an overall 3.5/5 star rating on the Android market place. However, there are several customer reviews of poor customer service and technical bugs with the Bitrue app. Most of the issues appear to be with server errors at login or crashing during the verification process.

bittrue appbittrue app

Frequently Asked Questions

There is no KYC procedures or requirement to upload personnel information to start trading cryptocurrencies with Bitrue. Users that purchase Bitcoin on the platform using a third party provider will need to complete KYC and will be directed to the website.

Bittrex doesn’t offer a demo trading feature or platform to practice cryptocurrency trading. Beginners that want to use virtual funds to trade crypto without losing any more will need to find a platform with a demo mode such as StormGain and Phemex.

Bitrue is a Singaporean crypto trading platform that is available to use worldwide including Australia. The exchange offers useful features and services for cryptocurrency traders in Australia, however, is not suitable for buying and selling crypto using AUD. For a comparison of the best crypto exchanges in Australia, read our article that compares each trading platform that accepts AUD via a bank transfer.


To conclude our Bitrue review, we were quite impressed with the features offered to its customers such as the staking rewards and borrowing crypto to maximize their investment. The trading interface stood out with its modern design and advanced trading tools via the integration with TradingView. Users can speculate on the wide selection of XRP trading pairs which are not offered anywhere else and there is no need to complete ID verification.

The customer support features appeared to lack to in-depth support articles and FAQ's for troubleshooting issues. The ticket system was fairly responsive and received a response within 24 hours. There are several reported technical issues with the mobile app that need to be addressed. Apart from these issues, overall the trading experience on Bitrue was simple, responsive and is recommended for intermediate and professional traders that want to trade over 200 crypto pairs.

Visit Bitrue

How We Rated It

HedgewithCrypto strives to provide an independent, factual and unbiased reviews of cryptocurrency exchanges and trading platforms to help readers make an informed decision about picking the right crypto exchange. The review process includes examining the website and external sources, creating and funding an account, demonstrating and experiencing the features of the platform and calculating an overall weight-average rating.

A rating between poor (1 star) and best (5 stars) with 0.1 increments is given. For further information on the criteria and categories that are evaluated, our review and rating process.

Related articles
Share this post
Or copy link
Kevin GrovesKevin GrovesKevin Groves

Kevin is the founder and chief editor at HedgewithCrypto which he started in 2019 and has reached over 1.5 million visitors worldwide. He is passionate about cryptocurrency as an emerging technology and is heavily involved in the fast-growing fintech space. An experienced trader growing his portfolio since 2013, he has a strong understanding of investing in the crypto market using exchanges, brokers and derivatives platforms.

Sign up for latest news
Stay up to date with our latest exchange reviews, promotions, how-to guides and educational articles on Bitcoin, cryptocurrency & more.
HedgewithCrypto aims to publish information that is factual, accurate and up to date. The information about a specific cryptocurrency exchange or trading platform in reviews and guides may differ from the actual provider’s website.
Copyright © 2022 HedgewithCrypto ABN 74 810 472 814