EXCHANGE

Bitfront.me Exchange Review: Bitfront Is Safe & Secure Exchange

Bitfront Exchange Review

7.3

CURRENCY VERITY

7.5/10

CUSTOMER FEEDBACK

6.5/10

CUSTOMER SUPPORT

8.5/10

DESIGN

6.5/10

Pros

  • User Friendly Interface
  • 24/7 Support

Cons

  • High Fees
  • Few Currency Support

About Bitfront.me

Bitfront.me is a global crypto exchange, created by LINE, that provides a trusted platform for traders to buy and sell leading, liquid digital currencies, such as Bitcoin and Ethereum. BITFRONT is a global digital asset exchange by LINE that provides a trusted platform for traders to buy & sell leading digital currencies. BITFRONT serves as the main exchange platform for the core products in LINE’s blockchain business. Driven by a contribution-rewarded business model, BITFRONT is the exclusive platform for listing digital tokens based on the LINE Blockchain Platform and for trading LINE’s digital tokens with other major tokens. 

BITFRONT Exchange is a cryptoasset exchange located in Singapore. Their volume over the last 24 hours is $180.28M. They have 13 markets, with the most popular markets (trading pairs) being BTC/USD, ETH/USD, and USDT/USD. The exchange is rated “D” which means “Poor.” Out of 440 exchanges, they are ranked #186 by transparency and volume. BITFRONT accounts for <1% total volume in the cryptosphere indexed by us. They allow trading with the following fiat currencies: USD.

ExchangeDetails
Exchange NameBitfront
Exchange TypeCryptocurrency
Withdraw Fee0.001 BTC
Levearge0.000643 BTC per BTC-
Maker Fee0.1%
LAst Update2021-06-16 11:09 (UTC 00)
Support24/7
 Top CountryIndia
Website Homepage

How To Sign Up & Start Trading

You Sign Up For A User Account By Providing Basic Information.

On Every Exchange You Will Get Option For Sign Up Or Create Account . Just Fill Some Basic Details Like Name , Email , Password , Security Question Etc For Registration . It Is First Step To Start Trading On Any Exchange

You Then Receive An E-mail In Your Mailbox To Activate Your Account.

Before You Can Login, You Must Active Your Account With The Code Sent To Your Email Address.Then You Will See A Message That Your Financial Account Is Activated And Ready To Go. This Means That You Can Log In And Start Trading In Cryptocurrency.

Identity Verification

For Successful Verification You Will Need Identity Documents. For Example, You Can Use A Driver’s License Or Passport, Where The Name Is Duplicated In Latin Letters.Confirmation Of Identity On Exchange Is An Optional Step. The Procedure Must Be Completed Only If You Want To Remove The Restrictions Of Btc On Deposit Or Withdrawal Of Funds Per Day.

Trading Fees

Bitfront Trading fees

Every time you place an order, the exchange charges you a trading fee. The trading fee is normally a percentage of the value of the trade order. Many exchanges divide between takers and makers. Takers are the one who “take” an existing order from the order book.

Bitfront charges what we call flat fees, meaning that both the takers and the makers pay the same fee: 0.20%. These taker fees are quite in line with the industry average for centralized exchanges. Industry average has hsitorically been around 0.20-0.25% but we now see new industry averages being around 0.10%-0.15%.

Bitfront Withdrawal fees

Bitfront charges a withdrawal fee of 0.001 BTC per BTC-withdrawal. This fee is a bit above the global industry average BTC-withdrawal fees. The current global industry average is 0.000643 BTC per BTC-withdrawal according to this report, so Bitfront’s BTC-withdrawal fee is around 35% higher than that.

Deposit and withdrawal limits per account status

  • Deposits
  • Account Asset type Unverified Type B ACH Type B Wire transfer Individual account Fiat currency Unavailable Daily $5,000
    Last 30 days $50,000
    Lifetime UnlimitedUnlimitedCryptocurrencyUnavailableUnlimitedUnlimitedCorporate account Fiat/Cryptocurrency Unavailable–
  • Withdrawals
  • Account Asset type Unverified Type B Individual account Fiat/Cryptocurrency Unavailable Daily $100,000
    Last 30 days $3,000,000Corporate account Fiat/Cryptocurrency Unavailable Daily $1,000,000
    Last 30 days $30,000,000
    • Limits reset at midnight (UTC+0).
    • Changes to available deposit limits
    • – For deposits via wire transfer, the available deposit limit will be reduced once the deposit is completed.
    • – For any other deposits and withdrawals, the available limit will be reduced as soon as the request is made.

Deposit and withdrawal fees

  • Fiat currency
    • The minimum amount for both deposits and withdrawals excludes fees.
    • Additional fees may apply when a transfer is unable to be completed successfully and needs to be refunded .Last updated : 2021-06-16 11:09 (UTC 00)

Deposit Methods

In addition to depositing cryptocurrency to the platform, Bitfront also lets you deposit fiat currency. However, only through wire transfer (not credit or debit card). If you need an exchange accepting credit or debit card deposits, just use our Exchange Filters and you’ll find one in no time at all.

Seeing as fiat currency deposits are at all possible at this trading platform, Bitfront qualifies as an “entry-level exchange”, meaning an exchange where new crypto investors can start their journey into the exciting crypto world. 

Transaction fees

  • Market fees (For both makers and takers)
    • LN trades* 0.1%
    • Trades on USD, BTC, USDT markets** 0.2%
      • * Applies to LN/BTC and LN/USDT pairs
      • ** Trading LN on these markets will incur a fee of 0.1% instead.
  • How transaction fees are calculated
    • Order amount (quantity ordered × order price) multiplied by the transaction fee percentage
  • How transaction amounts are calculated (transaction fees are based on the currency traded)
    • Transaction amount when buying = order amount (quantity ordered × order price) plus transaction fee
    • Transaction amount when selling = order amount (quantity ordered × order price) minus transaction fee
  • Use LINK for fee payments
    • – Fees are based on the price of LN at the time of the trade.
    • – If you don’t have enough LINK to pay the fees for the trade, fees will be paid in the traded currency instead.

User Friendly Interface

Paymium Exchange Follow the rewards earned thanks to your referral link in real-time. Trade BTC with desktop or mobile.

Security

They generally don’t like when exchanges refers to themselves as “most trusted” and “industry leading”. Bitfront does that. If anything, the below picture shows that they consider themselves having a strong offering with respect to security (and offline storage of user assets and multi-sig tech is always welcome).

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