Are there fixed fees, transaction fees, or other fees?
Is the website safe and your information secure? Have there been previous breaches in security?
How many coins are available to trade?
|Ease of Use?
How good is the overall experience? Is it easy to buy/sell tokens, view funds, and see market movements?
While researching most of the conversations online being had regarding Bit-Z, we did not discover any references to fraudulent activity or hacks being reported. However, there were numerous complaints regarding the slow withdrawal processes and late money releases. Some users have written that they have been asked for additional documents for their funds to be released. All in all, the exchange seems safe to us.
We will just start off by saying Bit-Z charges only market sellers, which is a common practice at cryptocurrency exchanges. Depending on the cryptocurrency pair traded, the highest amount is around 0.3%. They then charge 0.5% for withdrawls.
Bit-Z provides users with the option to trade between a fairly large number of different virtual currencies (there are around 20 different virtual coins available for trade on this exchange). Now that may seem like quite a bit, but some of the larger exchanges carry over 100.
EASE OF USE
Bit-Z is a very easy platform to understand and navigate through. You sign up in minutes and have access to the market within their platform. One of the draw backs is that they don’t accept fiat. You have to deposit Bitcoins from you wallet or another platform and use it to trade in other cryptocurrencies on Bit-Z. If you don’t have a wallet or account in another crypto-exchange, Bit-Z offers an off-exchange service, that they dubbed “OTC Trade”. Here, you can buy BTC, LTC or ETH with USD dollars or Chinese yuan via a wide range of payment methods.
Bit-Z definitely passes the sniff test. They are a Hong-Kong based cryptocurrency exchange that has been around since 2016. We could not find information about any hacks of Bit-Z so for now it seems to be a very safe option for trading the specific tokens they offer. Their platform is very simple and easy to understand for beginning traders. You can’t rally go wrong by signing up for this exchange.