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?
There are no reports of any hacks so far and BTC Market is doing all that they can to ensure that no hacks ever happen. BTC Markets utilized cold storage and two-factor-authorization. In addition BTC Market runs a regular reconciliation of all funds it’s holding. This is to make sure they always have a full reserve available to process trades.
BTC Market charges a pretty fair price when compared to its competitors. They charge a trading fee of 0.20% on all trades. That’s decent when compared to the average fee of about 0.25%. Also keep in mind that when trading digital assets against the Aussie dollar, one must pay higher fees. The maximum is 0.85%, with the rate going lower for bigger trading volumes.
BTC Market only offers 6 coins. Bitcoin, Litecoin, Ethereum, Eth-Classic, Ripple, and Bitcoin Cash. It’s not a large number of coins but it does cover the basics.
Ease of Use
There seems to be some mixed reviews on the ease of use. It appears that the interface isn’t as intuitive as people thought and most people aren’t impressed with the overall system. The other downside is that this is an exchange primarily for Australians. So you can only trade with the Aussie Dollar.
Overall BTC Markets is a great exchange to be apart of if you use Aussie Dollars. If you don’t, then you need to look elsewhere. But for those who do, this is a great exchange that you can trust and is a great place to get started if you’re new to the crypto market.