About Secondbtc Cryptocurrency Exchange
Launched in Jun 2018, Secondbtc Cryptocurrency Exchange is a centralized exchange based in India. SecondBTC exchange is a centralized exchange launched in 2018 all the way from India. Well, the exchange comes with a lot of amazing features which might seem enticing to various traders but how legit are all these features it’s offering.
Usually, before i register on any exchange i make it a point of importance to check the trading fee of the exchange, number of cryptocurrencies supported, interface and multilinguality features in order to confirm its legitimacy. Well, this exchange does well in various aspects: 1. The exchange only charges a 0.2% fee for trading, the flat fee model of payment was adopted by this exchange ever since it was launched,
Basic Information
| Exchange | Details |
|---|---|
| Exchange Name | Secondbtc Cryptocurrency Exchange |
| Exchange Type | Cryptocurrency |
| Deposit Fee | Free |
| Maker Fee | 0.20% |
| Taker Fee | 0.20% |
| Withdraw Fee | 0.0005 |
| Support | 24/7 |
| Website | Homepage |
How To Sign Up & Start Trading
SecondBTC Trading fees
Most crypto exchanges charge two different types of trading fees: taker fees and maker fees. The taker is the person who picks up an existing order from the order book. The maker, on the other hand, is the person who creates an order that is not immediately matched against an existing order on the order book. Makers are often rewarded for creating liquidity on the platform by a lower trading fee than takers. Exchanges that do not make a distinction between takers and makers charge what they call “flat fees”. SecondBTC charges 0.20% for both takers and makers.
According to the largest and most recent empirical study for Q3 2021 on crypto exchange trading fees, the average spot trading taker fee is currently 0.221% and the average spot trading maker fee is currently 0.178%. Compared to those average trading fees, Secondbtc Cryptocurrency Exchange taker fee is below the industry average but the maker fee is above the industry average.
SecondBTC Withdrawal fees
SecondBTC’s withdrawal fee is 0.0005 BTC per BTC-withdrawal. This fee is a bit below the industry average. The global industry average BTC-withdrawal fee the last time at did a full-blown empirical study of it was approx. 0.00053. All in all, this exchange’s fee levels are in line with the industry average.
Deposit Methods
Secondbtc Cryptocurrency Exchange does not accept any deposits of fiat currency. This means that the new crypto investors (i.e., the investors without any previous crypto holdings) can’t trade here. In order to purchase your first cryptos, you need a so called entry-level exchange, which is an exchange accepting deposits of fiat currency.
How secure is SecondBTC?
In every crypto exchange, whether centralized or decentralized, security is a primary factor that cannot be undermined. The existence of the digital market offers risks and threats of cyber attacks and server hacks. The responsibility of CEXs to the protection and safekeeping of their users’ assets has also contributed to making them targets for hackers. However, SecondBTC has established strategies to deal with both internal and external threats of a breach. There’s the existence of a one time password to authenticate your login.
Users can also set passwords to their accounts and change them as they please. The option of an account password offers a sense of security. The platform is also under regulations and adheres to the laws of privacy thereby concealing user details from third-party. Therefore, all personal information submitted on the platform can be regarded as safe and secure.
Users are also guaranteed the safety of their tokens as it is the duty of the platform. Trading is therefore carried out on this exchange with an assurance of the safety of tokens and also the transaction process as customers’ safety is held in high regard.
Customer support
Essential to the success of any crypto trading platform is its relationship with its users. Being a market controlled and run by automated means, issues that can be both human and technical are bound to occur. Support is therefore required by users in seeing to the resolve of such cases. This exchange provides several mediums through which its users can reach out and have their matters handled successfully. It also offers a platform for feedback as user experience is important information.
The platform’s mail is reserved for the handling of sensitive account issues which can be technical or otherwise. Capable hands have been employed to coordinate such matters and they are always treated as urgent.
Several updates are made available on the exchange’s Twitter page to keep users informed about current developments and events as relates to the platform. Users can also have their questions answered on an official basis here.
- · Telegram
It is an avenue for users to connect, share ideas and offer feedback about their experiences on the platform. However, the exchange does not provide any official support via this means. All interactions on Telegram are strictly between users in different parts of the world.