Blade Exchange Review – Bitcoin, Trading Crypto & Fees

BLADE exchange is an exciting new cryptocurrency margin trading platform that offers Bitcoin and Altcoin cryptocurrency pairs perpetual contracts that can be traded with up to 150x leverage. The exchange is backed by world class and trusted investors such as Coinbase and SV Angel to create a dedicated Bitcoin perpetual trading platform. 

In this BLADE exchange review, we will assess the platform features, trading interface, fees and much more to see if it's a legit and safe crypto exchange based on our experiences. 

Blade exchange

What Is BLADE Exchange?

BLADE is a crypto trading exchange allows its users to trade perpetual contracts in Bitcoin and Altcoins. Users can trade with high leverage on crypto trading pairs up to 150x with settlement in Bitcoin (BTC) or Tether (USDT).

The founders behind BLADE are focused on building a new foundational layer for the cryptocurrency markets, and eventually the global financial markets more broadly. The exchange has also launched zero-fee crypto trading to lure in traders that are tired of paying excessive commissions on other platforms.   

Sign up to BLADE using our referral link and receive a 10% discount on your trading fees for 6 months.

BLADE Compared

Advanced features, intuitive user interface and a mobile trading app are important features on BLADE. This comparison table lists other top rated crypto exchanges that offer world-class features. 

Exchange

Fees

Rating

Website

bybit

Maker - 0.025%

Taker - 0.075%

5 / 5

binance

0.1%

4.8 / 5

plus500

Spread only

4.4 / 5

blade

Maker - 0.025%

Taker - 0.075%

4.1 / 5

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Is BLADE Legit & Safe?

BLADE appears to be a legit and safe trading platform given it's backed by one of the worlds largest and most reputable exchanges, Coinbase. BLADE features security protocols such as multi-signature wallets, offline (air-gapped) cold storage system and auditing of all withdrawals by the BLADE team.

Creating An Account & Login 

To create an account on BLADE:

  1. Visit the BLADE site and click on 'Sign Up' in the top right corner
  2. Enter in your Email address, Password and Country of Residence 
  3. Check your email address for a verification email
  4. Click on the verification link 
  5. That's it! You’re ready to get started
blade register

Depositing Funds on BLADE

BLADE is a cryptocurrency trading platform only and accepts deposits in Bitcoin (BTC) or USDT. This means new users that wish to trade using BLADE will need to make a purchase of a cryptocurrency asset first using an exchange.

To do this, you will need to a fiat-to-crypto exchange that accepts deposits of fiat currency in exchange for cryptocurrency.  

To deposit funds into BLADE:

  • Navigate to the 'Wallet' link at the top navigation menu
  • Select the currency you wish to deposit (e.g. BTC or USD)
  • Click on 'Deposit' and record the wallet address shown
  • Transfer funds from a hardware wallet or fiat-to-crypto exchange using the wallet address 
blade deposit

User Interface

For all traders alike, the charting interface is one of the most important considerations when selecting a crypto exchange. Especially for traders that rely on technical analysis to find an edge in the market. When selecting a cryptocurrency exchange, you must be comfortable with the trading interface. It must feel right as this is where most of your time will be spent!

When you first login to BLADE crypto platform,  the first thing you will notice is how well laid out and simple the trading dashboard is. There are no complicated menus or distractions, just an easy to use trading interface. On the right, the trading pairs are listed where you can switch between the different digital coins.

BLADE charts

There does not appear to be trading tools and indicators provided with BLADE. This might be features that will be added in the near future however is critical for technical analysis traders. We were unsure how to change the chart time frames as well.

Overall, we were quite disappointed with the BLADE charting interface on a deeper assessment. It does not stack up well against the other more popular cryptocurrency exchanges.

How To Trade Using BLADE

To enter a trade with BLADE, navigate to the 'Place Order' trading box on the left of the trading window. The interface is quite simple to use and offers several different order types which include:

  • Market
  • Limit 
  • Stop Order (Market and Limit)
BLADE order

The leverage can be adjusted using a slider that is positioned outside of the trade order window. We found this to be a little strange as we would expect it in the trade order box.  

BLADE does not have a leverage or liquidation calculator to estimate the total profit and loss of a trade with a pre-defined leverage.  

BLADE Trading Assets

BLADE offers perpetual contracts that allows traders to speculate on whether an asset’s price will move up or down, with the use of leverage and without the need to own the asset. BLADE offers perpetual contracts on:

  • BTC/USD
  • BTC/KRW
  • ETH/USDT
  • XRP/USDT
  • ZEC/USDT
  • XMR/BTC
  • DOGE/USDT

Each trading pair has its own order book, which means for a new exchange, the liquidity in each trading pair order book is currently thin. 

blade trading pairs

BLADE Leverage

BLADE offers 150x leverage on Bitcoin perpetual contracts. The leverage available for the other altcoins is 50x which is quite high compared to other cryptocurrency derivative trading platforms. BLADE features a leverage slider at the bottom of the trading interface where the leverage amount can be selected.

The exchange also offers cross margin which means all funds located in the margin account are available for margin trading. This allows traders to open considerably larger positions than normal.

We must caution that leverage trading can be a powerful tool for a trader. You can use it to take advantage of comparatively small price movements to make your balance grow faster. It works by putting down a fraction of the full value of your trade – and the exchange provides the rest of the deposit to facilitate a much larger position size without tying up your capital. It can also have the opposite effect and increase the size of your losses.

BLADE Fees

Exchange fees are an important consideration when selecting a cryptocurrency trading exchange. It becomes even more critical when trading larger position sizes and on a leveraged exchange where you are paying fees on positions that are much larger than your margin.

Deposit Fees 

BLADE does not charge a deposit fee.

Withdrawal Fees

BLADE withdrawals will incur a small network fee of ₿0.0005 per Bitcoin withdrawal request. For Tether withdrawals, BLADE will charge ₮2.00 per Tether withdrawal request to offset fees charged on the Bitcoin blockchain and Omni Layer.

Trading Fees

BLADE platform uses a maker and taker model for determining trading fees which is the same for each cryptocurrency coin. Depending on the type of order placed, the exchange will determine the trading fee to be applied. On BLADE, the trading fee for takers is 0.075%, while for makers a small 0.025% rebate is given. The trading fee is deducted from the account balance, and will not affect the initial margin of the order.

BLADE fees

To help explain the different BLADE fees and when they will apply:

  • maker is someone who places a limit order or conditional order that goes to the order book and adds up to the market depth, regardless of whether the trader chooses to go long or short. These traders help to make the market and thus are named makers.
  • taker is someone who places market orders that are immediately fulfilled before they go to the order book and decrease the market depth by taking orders from the order book. 

Overall, BLADE trading fees are relatively fair compared to other exchanges in the cryptocurrency trading industry. 

blade review

BLADE Security

BLADE platform includes a number of security features to provide the highest level of security and protect its user's funds from compromise. Visit the website for a full list of security mitigation measures and protocols in place.

BLADE Wallet

BLADE utilizes a cold wallet system to store all digital assets of users and the platform. This means that vast amounts of the client's funds are stored in an offline hardware wallet with each deposit address assigned to users is actually a cold wallet address.

In the event of a system compromise, an attacker would still not have full access to all the required keys to steal funds. No private key is kept on any cloud server which greatly reduces cyber risks such as hackers.

BLADE Withdrawals

BLADE withdrawals are audited by the exchange security team to ensure public keys m. This can slow down the withdrawal process, however, the BLADE team puts security above all else to protect users funds.

BLADE Alternatives

BYBIT

Bybit

ByBit is a derivatives cryptocurrency trading platform with an emphasis on leverage trading with up to 100x leverage on Bitcoin and Etherium trading pairs. Bybit has become one of the best crypto exchanges in the world. 

plus500

Plus500

Plus500 is a CFD providers that offers its massive customer base to trade the world's most popular crypto assets with up to 30x leverage such as Bitcoin, Ethereum, Litecoin, Neo, Ripple XRP, EOS, Cardano, Tron and Monero.

Disclaimer: your capital is at risk

binance

Binance

Binance is the largest cryptocurrency exchange by trade volume and one of the fastest trading services providers for blockchain ecosystem. The exchange has seen an astronomical growth and is a premium crypto trading platform. 

Frequently Asked Questions

Do I Need To Submit KYC Documents To Start Trading With BLADE?

There are no KYC procedures or need to upload personnel information to start trading with BLADE.  Traders can sign up and begin trading the cryptocurrency pairs offered on the exchange in minutes.

Does BLADE Have A Demo Or Paper Trading Account?

BLADE does not offer a demo trading account to allow its customers to learn to trade Bitcoin without depositing funds.  

Does BLADE Have A Mobile App?

BLADE does not currently have a mobile phone app for iOS or Android devices. The desktop version of the website is mobile friendly and intuitive on smart phones.

Is There An Affiliate Program?

BLADE offers its users the opportunity to join an affiliate partners program. The incentive rewards users with up to 20% of trading fees paid by their referrals by sharing their unique affiliate code.

Can US Customers Trade With BLADE?

US customers are allowed to create an account with BLADE and begin trading digital assets with leverage. The exchange is compliant with US regulations.

Conclusion

To conclude our BLADE review, the trading platform is backed by some of the world's most well known and most trusted investors such as Coinbase, SVAngel and a_Capital. The platform is designed to focus on perpetual trading and offers a number of crypto pairs to trade. 

The trading interface is quite limited and does not offer a wide variety of tools to perform any chart analysis. This is a major drawback and secondly, the exchange daily volume is lacking. If these can be addressed, then we can expect to hear about BLADE exchange in the near future.

Risk management tools and platform features are very important for any prospective cryptocurrency investor. The following cryptocurrency trading exchanges - in addition to the above exchange - provide advanced trading features, technical indicators and a smooth, mobile-responsive charting interface that will be suited to beginners and professional crypto traders. 

  1. Bybit
  2. PrimeXBT
  3. BitMEX
  4. Plus500
  5. FTX
  6. Crypto.com
  7. PrimeBit
  8. Bityard
  9. Binance
  10. Quadency
  11. Phemex

BLADE Exchange

4.1

Ease of use

4.5/5

User interface

4.5/5

Fees

4.0/5

Security

4.0/5

Customer support

3.5/5

Pros

  • Backed by Coinbase
  • Advanced trading platform and features
  • Margin trading with up to 150x leverage
  • Free crypto perpetual trading
  • US customers allowed

Cons

  • Low trading volume
  • No mobile trading app
  • Limited crypto pairs to trade
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Kevin
Kevin is the founder of hedgewithcrypto and is passionate about blockchain technology. He has been involved with Bitcoin since 2016 after discovering it's potential as an alternative to fiat currency. He is also a trader with over 8 years of experience and is now trading crypto using various platforms. Now, he is focussed on helping others learn about cryptocurrencies via hedgewithcrypto.