BLEUTRADE Review 2020

Bleutrade is a cryptocurrency exchange that was established in 2014 to provide a crypto-crypto exchange service to traders and investors. In other words, trade accounts with Bleutrade can only be funded witch cryptocurrencies (BTC and ETH) and these can then be used to purchase other cryptocurrencies of interest. This brand was founded in Recife; the area known as Brazil’s Silicon Valley.

Contents

• Regulation
• Reliability
• Trading Platform
• Trade Types/Instruments
• Account Types
• Commissions and Spreads
• Deposits and Withdrawals Options
• Bonus and Promotions
• Pros and Cons
• FAQ
• Conclusion

Regulation

Cryptocurrency exchanges are by their very nature, unregulated businesses. Therefore, Bleutrade is not regulated. It does, however, have a very good reputation. It has enacted rigorous security protocol in order to protect its clients and its founders have a very good reputation in the finance industry.

Reliability

When it comes to reliability of the company, the following metrics are used to judge this:

1. The ability of traders to withdraw their holdings when they need to.
2. Security measures put in place to protect traders’ funds and altcoin holdings.
3. Transparency of trading process: do prices suddenly change without warning when trades are to be executed?

There is not much information about Bleutrade to work with in terms of these three metrics. However, a few review sites featuring the words of actual traders on Bleutrade seem to point at the following:

• There seem to be issues with withdrawals in terms of excessive delays.
• Many purchases of altcoins are not completed at once, thus subjecting some users to unfavorable price fluctuations.
• Customer support is not as responsive as it should be.

However, the deposit process seems to be seamless. For the reasons stated above, it can be said that Bleutrade is not a very reliable platform and a lot needs to be done by the team to address these issues

Trading Platform

Bleutrade is an online cryptocurrency exchange. Therefore, trading services are offered to clients of the company using a web-based trading platform. The trading platform features rudimentary candlestick charts along with a price bar on the right, which features prices of cryptocurrency assets when paired with Bitcoin, Dogecoin or Ethereum.

The interface also features the OrderBook, Order History and Trade History.

Trade Types/Instruments

Traders can buy as prices rise or sell at falling prices. Trades are done on a buy/sell basis because cryptos on Bleutrade are paired. Therefore, a trader is purchasing or selling the base cryptocurrency in relation to the counter cryptocurrency in a pairing. For the full list of altcoins traded on Bleutrade, see the “Commissions and Spreads” section below.  The company gives you markets to trade based on the Dodge, Ethereum, and Bitcoin. It gives you a market to trade these base cryptocurrencies against around 50 other leading cryptocurrencies.

Account Types

Only one type of account is offered on Bleutrade. There is no option for multiple account types.

Commissions and Spreads

At Bleutrade, traders do not incur spreads on trades. Rather, they pay fees various fees. These fees include fees paid for

1. Trading activity
2. Withdrawals

Deposits on Bleutrade are free. The table below serves two purposes. It showcases the asset listing on the Bleutrade platform and also the fees that are paid for trading each of these cryptocurrencies.

Deposits and Withdrawals Options

Funding and withdrawals can only be performed using Bitcoin or Ethereum. Therefore, traders must already have existing Ether or BTC wallets with which to transfer funds to and out of their Bleutrade accounts.

Bonus and Promotions

No bonuses or promotions are offered on Bleutrade.

Customer Support

Customer support at Bleutrade is only reachable using a support ticket, which is not very good considering the volume of users.

Pros and Cons

Pros

• There is a wide choice of altcoins to trade.
• Cost of trading is relatively cheap
• Deposits do not attract any fees.
• You can match various currency pairs together, without having to first convert to Bitcoin or Ethereum.
• Robots can be constructed using the API function on the website.

Cons

• Bleutrade is unregulated and does not rank highly among cryptocurrency exchanges (it is outside the top 100).
• Platform choices are limited to the web-based portal.
• Very restricted customer support channels.

FAQ

• Is Bleutrade regulated?

No. Bleutrade is not a regulated cryptocurrency exchange. But then, apart from a few exchanges in the US, no crypto exchanges are regulated.

• Where is Bleutrade based?

Bleutrade is based in Recife, Brazil.

• How does Bleutrade make money?

Bleutrade makes its money by charging a fee for buy/sell trades on its exchange platform.

• How do I deposit in Bleutrade account?

Bleutrade supports deposits using Bitcoin and Ethereum.

• How do I withdraw money from Bleutrade?

Withdrawals of funds from Bleutrade can be initiated using Bitcoin or Ethereum. Once the withdrawals are performed, the trader can convert these to fiat using exchanges such as Coinbase.

• How do I open an account with Bleutrade?

To open an account at Bleutrade, simply fill the sign-up form using your Google, Twitter or Facebook details, after which all necessary identification documents must be submitted for verification.

• Is Bleutrade reliable?

Bleutrade is a reliable broker but still needs to do a lot of work to make its platform richer and more user-friendly.

• Does Bleutrade use MetaTrader?

No. Bleutrade does not use the MT4. It only offers a web-based platform.

• Is Bleutrade a scam?

No, there have been no scam reports on Bleutrade at the moment.

• How safe is Bleutrade?

Bleutrade has not experienced any hack attacks, but traders are advised to deploy special security features to protect their accounts.

Conclusion

While Bleutrade has done some considerable work in coming up with a cryptocurrency exchange, there is a need for the company to implement more features to enable it to compete with the exchanges that are in the list of top 100 exchanges in the world.