Trust 9.6/10
FatBTC exchange has a great reputation online although the community is still growing.
Fees 9.8/10
The exchange’s 0.2% trading fee is attractive and below average.
Customer Support 9.2/10
The exchange answers to inquiries fast and professionally.
Ease of Use 9.5/10
It is easy to trade on FatBTC with the exchange's currencies.
Overall rating:
The true user experience of FatBTC will be evaluated as the community grows. Its liquidity grow high, making it easy for traders to feel attracted to the exchange.
Is FatBTC reliable? - Full Exchange Review
Quick inner navigation:
What is FatBTC?
FatBTC Fees
FatBTC Verification
Special Features
How to use FatBTC?
Although there are over a dozen cryptocurrency exchanges with high reviews, traders are always looking for new trading platforms to experiment with. Coinmarketcap.com lists 212 exchanges, some with 24 hours trading volumes of more than $700000. FatBTC, a global exchange, ranks 22th with a daily trading volume of a daily trading volume of $17 million. The biggest exchange based on daily trading volume is BitMex, an exchange most notable for trading Bitcoins against US dollars. The largest cryptocurrency to cryptocurrency exchange is Binance, with a 24-hour trading volume of $1.84 billion. Bitfinex comes in third and popular US-based exchange, GDAX, ranks eighth.
FatBTC ranks at number 8, has gained a lot of popularity since December 2017. The company claims to now have more than 100,000 daily traders. The following FatBTC exchange review explores all the important aspects of the trading platform.
What is FatBTC?
Launched in 2014, FatBTC targeted global traders. The official language on the website is now available in multiple languages, such as English, Chinese(Trading), Chinese (Simplified), Portuguese, Spanish，Russian and etc. It lists more than 100 cryptocurrencies, both popular and less popular cryptocurrencies. The exchange offers four main services:
► Purchase of Bitcoins can using USD, EUR, VND through bank transfer
► An online cryptocurrency wallet
► Purchase and selling of cryptocurrencies
► Speculative investment exchange, Fatcoin
The platform has been open and welcoming to traders from all parts of the world.
There are currently no limits to buying or selling any of the cryptocurrencies listed on the exchange. The average daily trading volume for ethereum against Bitcoins, for example, is $36,800. With such a trading volume, an investor who purchases ether coins worth $10,000 and above will have trouble buying or selling the coins.
Buying Payment Method
As a Chinese focused market, FatBTC facilitates buying of the following cryptocurrencies using USD, EUR, VND via bank transfer: Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Ripple, DogeCoin, EOS, Dent, Dragon Coin, Kin Coin.
If you live outside China, you can fund your account using Bitcoins or Ethereum coins. You also have the option to add funds using popular altcoins Like Bitcoin Cash and Ripple.
Selling Payment Methods
FatBTC pairs most cryptocurrencies with Bitcoin, Ethereum.You can sell any cryptocurrencies, or receive Bitcoins or ether coins.According to the website’s daily trading volume, most traders sell their cryptocurrencies in either Bitcoins.
Available Cryptocurrencies
At the time of writing, FatBTC Lists 24 cryptocurrencies. Most of the coins on the exchange contribute Less than 5% of daily trading volumes.In fact, Bitcoin, Ethereum and Bitcoin Cash contribute 84% of the exchange’s daily trading volume.63.35% of all trading involve Chinese Yuan and Bitcoins. The top 13 cryptocurrencies contribute less than 1% of daily trading volumes. Bitcoin, Bitcoin Cash, Litecoin, and EOS are the top most popular cryptocurrencies on FatBTC.Less popular but rising cryptocurrencies on the exchange include TRON, Electra, and Dogecoin.
FatBTC Fees
With fixed 0.2% trading fees, the FatBTC exchange has Lower fees than most exchanges. FatBTC exchange has lower fees than most exchanges. The average trading fee is 0.25%, with a few exchanges offering up to 1%. Here is how FatBTC fares regarding fees compared to popular cryptocurrency exchanges. Some exchanges charge a maker versus taker fee, whereby sellers, who provide Liquidity to the coin, are makers. Takers are traders buying the coins. Some exchanges charge a fixed trading fee irrespective of whether you are buying or selling a cryptocurrency.
Exchange Maker Taker Fixed fee
GDAX 0% 0.25%
Bitfinex 0.1% 0.2%
HitBTC 0.1%
Binance 0.1%
Poloniex 0.15% 0.25%
Kraken 0.16% 0.26%
As you can see above, only Binance and HitBTC beat FatBTC in fees. However, FatBTC does not charge deposit fees, while some exchanges that purport to charge low or no trading fees do.The exchange does, however, charge a slightly high withdrawal fee of 0.5% Bitcoins.
FatBTC Verification
Creating an account on the trading platform is fast and easy.To register, the exchange asks for your email address where they send a verification code. Once you enter the code, you can create a password and log in immediately. No additional details are requested.
FatBTC Special Features
► Bonus Giveaways
To attract more traders to the platform, FatBTC is constantly offering bonuses and gifts to their traders. When promoting the introduction of Newifi Gold, for example, the exchange promised to giveaway a Tesla electric car, a tour, Apple devices, and bonuses to the top 10 traders.
► Live Announcements
The trading platform has an announcement tab on the left corner where news and important information is regularly updated. On top of that, there is a Live chat box where you can ask for assistance 24/7.
► Customer Support
The exchange has three main ways mode of communication with traders:
► A live chat box.
► A ticket system where traders can submit their messages.
► Social media on Telegram, email, and Twitter.
So far, there have been no significant complaints about the exchanges customer support.If anything, most traders appreciate the exchange’s quick customer care.
How to use FatBTC?
The trading platform has a fairly easy user interface. You can access any of the services on FatBTC by following these steps:
Step 1: Create an Account
As already mentioned, creating an account on the exchange only requires a genuine email address.Through the email address, the exchange provides a verification code which helps you create an account.Verification to log in on the exchange is your email address and a password.
Step 2: Fund your Account
Except for Chinese traders who can fund their accounts using local currency, most traders will have to fund their accounts using Bitcoins or Ethereum.FatBTC provides a deposit address unique to each cryptocurrency. Fund your account with a minimum of 0.05Bitcoins, and you can begin trading on the exchange.
Step 3: Trade
This exchange is a little bit unique.The website separates trading into four:
► Bitcoin Market
► Ethereum Market
► Fatcoin Market
Step 4: Withdraw Funds
As already mentioned, the minimum coin withdrawal amount is an equivalent of 0.05 Bitcoins.There is a fixed withdrawal fee of 0.005 Bitcoins. The Deposit and Withdrawal tab can be accessed on the far right corner of your screen. When depositing coins, you lock them with a unique password that you also use when withdrawing them.
In a Nutshell
FatBTC is fast-growing, thanks to a user-friendly, responsive website and good customer support It’s fast-growing, thanks to a user-friendly, responsive website and good customer support.
Thank you for reading our FatBTC review above. Hopefully, it will help you make an informed decision of whether to trade on the platform or not.