EXCHANGE

Topbtc.com Exchnage Review: Is topbtc.com Scam or Safe Exchange

Topbtc Exchnage Review

6.8

CURRENCY VERITY

7.5/10

CUSTOMER FEEDBACK

6.5/10

CUSTOMER SUPPORT

8.0/10

DESIGN

5.0/10

Pros

  • 24/7 Customer Support
  • Safe & Secure

Cons

  • Few Currency Support
  • No Live Support

About Topbtc.com

Topbtc.com is a cryptocurrency exchange allegedly from Australia. The owner of the exchange is apparently a company named DABTC PTY LTD. If the letters DABTC rings a bell to you, it might be because of the previously major Chinese cryptocurrency exchange DABTC. According to information on DABTC’s website, the assets and activities of DABTC was transferred to TOPBTC following China’s ban on cryptocurrencies.

TopBTC is a crypto exchange platform which enables peer-to-peer trading. Although there isn’t any information regarding the team or the founder on the website, TopBTC is said to be founded in late 2016 by Jian Jouer, a Chinese investor. According to some reviews, it was founded for internal applications in China, and it’s registered in Australia. Since many of the cryptocurrency exchanges are members of the Australian Digital Commerce Association and TopBTC is not, it may alert a sign on trustworthiness.

The fees for both the maker and taker are fixed at 0.2%. For security reasons, there is two-stage verification via mobile app or SMS. Besides that, providing personal data is not required at the times of deposit and withdrawal. Wire transfers and credit cards are accepted. Withdrawal fees are not explicitly specified, so it’s encouraged that the customers do their own due diligence before entering.

ExchangeDetails
Exchange NameTopbtc.com
Exchange TypeCryptocurrency
Flat Fee0.20%
Deposit FeeFree
Withdraw Fee0.00009 
Taker Fee0.20%
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.

TOPBTC Trading fees

This particular trading platform doesn’t charge different fees between takers and makers. Their fee model is instead something called a “flat fee model”. Their flat fee is 0.20% for both takers and makers. This is in line with industry average.

TOPBTC Withdrawal fees

Another fee to consider before choosing which exchange to trade at is the withdrawal fee. The withdrawal fee is usually fixed (regardless of the amount of cryptocurrency units withdrawn), and varies from cryptocurrency to cryptocurrency. The global industry average withdrawal fee is arguably around 0.0008 BTC when you withdraw BTC, but we see more and more changes that have started charging 0.0005 BTC per withdrawal. 0.0005 BTC is thus establishing itself as the new industry average.

Here, at TopBTC, you only have to pay the network fees when withdrawing. These are the fees that miners receive to confirm transactions. Only charging network fees is competitive.

Deposit Methods

They have not been able to ascertain what deposit methods this exchange offers. When pressing the button “Deposit help” on the exchange’s website, you come to an empty white page. That is not very informative or helpful.

Why Choose Topbtc.com

Standard trading fees 

The fees for trading at TopBTC are what you would expect. With a 0.20% fee for both market “makers” and “takers” this exchange is in-line with the major players.

Nice charting 

The trading platform provided by TopBTC is average. The positioning of the different elements appears to be slightly off, requiring you to scroll a lot to get to the transaction history section. The charts on the other hand are very crisp and can be expended in a new window. Here is how they look:

P2P trading added 

On top of the centralized trading platform, TopBTC has added a peer-to-peer exchange. While they weren’t able to access it, this seems like a nice addition for those who are not willing to trust a company with their coins.

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