RIGHT BTC Review 2020
RightBTC is a global digital asset management platform for the trading of cryptocurrencies. The exchange deals strictly with crypto to crypto trading and claim to feature only the best digital assets with the best returns on investment. What differentiates the RightBTC cryptocurrency exchange from others is that they strictly screen each cryptocurrency that’s listed on their exchange to ensure they meet their high standards for investment.
The exchange claims to have an in-depth screening process and a team of professionals with a deep understanding of the finance and blockchain industries. The exchanges motto and main goal are to help investors allocate their digital assets more responsibly.
The exchange was founded in 2014 by a team of professionals from well-respected internet companies and is headquartered in Dubai. As with most cryptocurrency exchanges, RightBTC is not yet regulated by any reputable regulatory authorities. The exchange accepts traders from all over the world, but only offers their services in English and Mandarin Chinese. While RightBTC claims to be a very professional and well-established exchange with a strict screening process for the available cryptocurrencies on their platform, there is not much information on the reliability of this exchange. So, how do you know if the services they provide are competent and reputable? Well, in the following review we delve deep into the aspects that make up this cryptocurrency exchange and see what sets RightBTC apart from the competition and whether or not they can be trusted.
The first thing we noticed when reviewing RightBTC is their intuitively designed exchange platform. The platform is extremely easy to use and understand with all its necessary features being located in just the right place. Traders can easily view and analyze the chart in the middle of the screen stretching to the left of the screen. To the right are the available cryptocurrency markets to participate in, and below all this is where traders will find the order book, trade history, and order windows. While the platform is well designed and easy to use, the charting features and tools are rather limited. The platform is just fine for a beginner to intermediate traders, but advanced cryptocurrency traders will find they must use other charting software to commence charting analysis. However, the platform is more than sufficient for the majority of cryptocurrency investors and traders. Also, the platform is fully compatible with mobile devices through RightBTC’s downloadable mobile application for both Apple and Android smart devices.
As mentioned before, RightBTC deals only in the crypto to crypto markets and carefully selects which cryptocurrencies they make available for exchange on their platform. With that said, RightBTC features a variety of cryptocurrencies which are available to trade in the following crypto markets; Bitcoin (BTC), Ethereum (ETH), Metaverse (ETP), and Bitcrystals (BCY). The latter two markets have less crypto trading pairs than Bitcoin and Ethereum. The Bitcoin and Ethereum markets both feature around 20 cryptocurrency assets available to trade. Most of the cryptocurrencies available seem to be reputable and potentially profitable projects, but some of the cryptos offered are considered “shit coins” in the cryptocurrency community. Never the less, these shit coins can still return massive profits to traders.
Right BTC offers their traders very competitive and reasonable fees for their services. The trading fees are a flat rate of 0.2% per trade for all cryptocurrencies, no matter if the trade is a maker or taker trade. Traders also incur fees for withdrawals, and we must say these fees are also very low compared to many industries leading competitors. See the various withdrawal fees for different cryptocurrencies in the image below.
Security and Fairness
An unfortunate aspect of the RightBTC exchange is the certainty of their level of security and trustworthiness. The exchange is rather secretive when it comes to the owners and founders of the exchange. Also, there is no posted address as to where their headquarters are located. However, the exchange does state that their web servers utilize high-level SSL encryption transmission protocols and store the majority of user funds offline in cold storage wallets. As for the exchanges fairness, they seem to treat every user the exact same without any additional benefits for higher trading volume or deposit amounts. Withdrawals are completed instantaneously and all fees for trading and withdrawals are clearly outlined on the site and stated before any actions are taken.
RightBTC has very limited support options available to traders. The only way to reach a support representative is through their live chat function. However, often times there is nobody available and users are forced to leave a simple message through the live chat platform. The support representatives can be slow to respond and are very helpful, according to various reviews left by users. Also, the exchange has no FAQ page or external resources to help traders if need be. Customer support is one area that RightBTC definitely needs to improve upon.
Pros and Cons
- Extremely easy to use and navigate
- Majority of funds held in cold storage wallets
- Competitive trading fees
- Decent amount of cryptocurrency assets offered
- Slow customer service and limited options
- No fiat currencies supported
- Limited charting analysis options
- Little to no company information
Here are some of the most common questions that are asked about Right BTC crypto trading service.
Is Right BTC regulated?
No. Right BTC is not a regulated cryptocurrency exchange.
Where is Right BTC based?
Right BTC is based in Dubai.
How does Right BTC make money?
Right BTC charges market maker and taker fees for each trade transaction. As well, they charge withdrawal fees.
How do I deposit in Right BTC account?
Right BTC only accepts cryptocurrency deposits.
How do I withdraw money from Right BTC?
You can withdraw from Right BTC by sending your cryptocurrency to your personal wallet address.
Can I trade on Right BTC with my mobile device?
Yes, you can use your mobile device to trade on Right BTC through their downloadable mobile application.
Is Right BTC reliable?
Right BTC has proven to be a reliable and trusted exchange that has yet to be hacked. However, their customer service is said to be terrible.
Is Right BTC a scam?
No. Right BTC is a so far, a legit exchange and is not a scam. However, traders should remain cautious as they are not yet regulated.
RightBTC seems to be a reputable and competent cryptocurrency exchange. They offer a decent amount of cryptocurrency assets that seem promising. However, some of the most promising projects in blockchain tech and cryptocurrencies are not yet featured on their exchange. Trading fees are quite low compared to the competition and the exchange platform is easy to use and includes enough features for beginner to intermediate traders and investors. It’s a shame there are no fiat currencies supported and the fact that the company background and information is unavailable. However, RightBTC has so far proven themselves to be a trustworthy cryptocurrency exchange.
RIGHT BTCUser Reviews
- 1Avoid this scam exchange!Athcrypto
- 1Stay AwayJoakim
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