Cryptocurrency exchange Fatbtc
Fatbtc is a cryptocurrency exchange whose target audience is the people of China. The company began operations in 2014, and to this day it continues to function perfectly. The site has a choice of two languages: Chinese and English. Therefore, English-speaking traders will be able to feel comfortable trading on this platform. Our domestic user, without basic knowledge of the English language at this exchange, will not be too comfortable.
Fatbtc is more like a small trading platform than a successful, large, public relations exchange. User traffic here is relatively small. Most of them are Chinese. Trading volume compared to world leaders is modest. But at the same time, to say that they poorly perform their duties is also impossible – negative reviews could not be found.
The first impression of visiting the FatBTC website is mixed: the platform is more like a small company. The start page does not stand out anything special among other exchanges with the same Asian origin. The site has been translated into 7 languages, one of which is Russian. But this translation is of poor quality, in addition, information in Russian is presented only partially. The presentation of information is better and more clearly displayed in English. Nevertheless, the exchange is considered to be the top one, where trading operations amounting to $ 1,430,027,384 USD (185,239 BTC) are performed per day.
You can register by email or mobile phone. And in the first and second cases, after indicating your data, you must enter the verification code, come up with a password and confirm the registration. After which it will be offered to enter under your registration data.
The interface can be called simple and affordable if the user understands English well. In your personal account information is presented on one page and even a novice can easily navigate in the profile data. The site view can be configured for day and night.
The trading interface is presented as a separate tab “Exchange” and access is opened only after registration. The chart for trading is synchronized with the TradingView platform, so a complete set of technical tools for analyzing the price movement is available to the client. A trader can open transactions with Limit and Market orders. Recently, a subsection for trading fiat currencies called FatOTC has been launched on the exchange. Trading is conducted in the markets FCNY, BTC, ETH, WKC, USDT. Of the proposed almost 100 cryptocouples, the largest trading volumes are in: ETH / BTC, BTC / CNY, BTC / USDT, BCH / BTC, ETH / CNY, XRP / CNY, XRP / BTC, XRP / USDT, TRX / ETH.
The transaction fee for Taker and Maker is 0.20%. When using the exchange’s internal own token for settlements, the commission is set at only 0.05%. Exchange verification is an optional procedure. It is possible to install a convenient mobile application.
The security setting of the user account is at a sufficient level: the client can connect a mobile phone to remove, recover the password, change security settings and manage funds, set a password for withdrawal of funds and the Google 2FA code. To increase the withdrawal limit, the client will be asked to go through KYC.
According to information from the organizers, 95% of Digital FatBTC funds are stored in cold wallets.
The FatBTC brand is controlled by Fatbtc Technology Company Limited and is a virtual trading platform operating under the Belize International Business Companies Act and registered in Belize with a registration number of 166,480.
Deposit and withdrawal of funds
If the client decided to remain anonymous, then his withdrawal limit within 24 hours will be limited to the amount of only 0.5 BTC. During verification of the 2nd level, the limit will increase to 5 BTC, the third level allows you to display 30 BTC during the day. The exchange works with cryptocurrency and fiat money, but only with the Chinese yuan. The input of digital funds is free, for the withdrawal it will be necessary to pay a fee according to the exchange rates. For example, for the withdrawal of bitcoin you need to pay 0.0005 BTC.
Exchange support operates 24/7 and only through the ticket system presented on the site. A ticket can be created in your account. It is preferable to ask a question in English. We created a ticket request and received a response after 6 hours.
FatBTC can be considered inexpensive and safe for its client if he worries about his account settings. But in terms of convenience, the exchange cannot be called comfortable, there are too many poor-quality translations and the site interface can hardly be called friendly. Although a small client can be attracted by the opportunity to remain anonymous when making transactions.