There’s a new exchange on the crypto block and it appears to be a heavy hitter. Bitexbook is a newly minted cryptocurrency exchange, and guess what, it is also the first legal cryptocurrency exchange. Bitexbook boasts a number of customer-centric features such as an efficient customer ID verification process and fund deposit/withdrawal turn-around time.
Bitexbook, a StreamCapital Group LTD company, came about from the extensive study, by a team of decorated financial and technology experts, of the competition’s strengths and short comings. It was decided that Bitex would operate under the core values of legality, security, and efficiency. Bitexbook has just completed it’s
Bitexbook recently completed it’s internal alpha-testing and public beta-testing phases (December 2017 and January 2018 respectively), and has penned agreements with both Visa and Mastercard payment rails to ensure near instant deposit and withdrawal, directly to and from customer bank accounts.
The company owning the status of first legal cryptocurrency exchange in the Eurasia Economic Union, which counts Armenia, Belarus, Kazakstan, Kyrgyzstan, and Russia as members. The Bitrex crypto exchange earned it’s legal status through the signing of a decree concerning the “digital economy” by the president of the Republic of Belarus. This law means cryptocurrencies and ICO’s are completely legal (I’m sure you’ve heard of how a number of Eastern European nations are leading the charge in becoming crypto/blockchain-friendly destinations, right?)
I took a peep under the hood of the Bitrexbook trading platform to see how it fairs against the competition and this is what my excursion turned up.
The registration process is simple enough, all you’re required to do is key in an email address and choose your account password. A confirmation email is sent to your chosen email address when you hit the confirm button, and you’re all set. As for verification, you simply upload your documents and Bitrexbook guarantees the KYC process will be complete and verified within 24 hours. That’s lightning quick if you compare it to the sluggish pace with which most exchanges handle it. The only other exchange I’ve known to do it faster is Luno.
You also have the option of an Anonymous and a Basic account which restrict the size and frequency of transactions to and from the exchange.
The cryptocurrencies you can work with are Bitcoin, Ethereum, and Litecoin, and US Dollars and Russian Rubles for deposits and withdrawals to and from the exchange with Visa and MasterCard processing.
The list of coins available for trading isn’t as extensive as say Binance, but it’s still early days for this project and less clutter will be great for crypto newcomers.
Withdrawals are processed within an hour and deposits are almost instant.
Charts are decent and though they’re not the most comprehensive I’ve seen they tie in well Bitexbook’s simplified User Interface and work well for beginners.
Aside from legal aspects, this is where Bitexbook truly shines. The company offers 2FA, email authentication, sms-codes, Google authenticator. 90% of customer assets are secured by cold wallets and Fiat funds are stored across reputable European Banks.
Bitexbook offers a simple, easy to navigate layout on a desktop website, and apparently have a mobile app in the works, which is fantastic.
Bitexbook book has neatly covered all bases in terms of offering a secure, easy to use and convenient platform. I can easily see it becoming a go-to exchange for many cryptocurrency users as it seamlessly marries the crypto and fiat worlds in an appealing package by going the extra mile towards solving many of the problems that have plagued cryptocurrency exchanges for a while.