The race to the summit, AlphaEx vs Bitrue
We are going to discuss two revolutionary exchanges: AlphaEx vs Biture
In order to support the token trading, we need high-frequency trading platforms that can comply with regulations and provide sufficient liquidity for security tokens. While a few popular ones have taken over the market with rage, they also tend to have restrictions and high transaction fee which makes them difficult to onboard new traders. Today, we are going to discuss two such revolutionary exchanges- Alphaex and Bitrue.
Is the older of the two actually better
Bitrue is one of the many cryptocurrency exchanges from Singapore, which was launched last year and currently has a standing of 1,233,979 USD transaction volume. It works on the XRP token base and gained traction initially due to this association. Bitrue charges a trading fee which still treads on a lower range than the domestic average:
BTC, ETH, USDT Trading Pair : 0.098%
XRP Trading Pair: 0.080%
It partners with TrustToken to support TUSD and accepts both cryptocurrency and credit cards for fiat transactions. While the withdrawal fee varies with different trading token pairs, it is usually on a higher-end as compared to other newer exchanges. One of the most essential drawbacks of using Bitrue is that it does not accept any deposits of fiat currency which means new cryptocurrency investors need entry-level exchange where fiat currency deposits are accepted before investing in Bitrue’s exchange platform.
Another major issue with Bitrue is their weak security fences. Even with the DDOS protection system, they are not able to guarantee the security of assets to the customers. One of the reasons could be the absence of exchange regulation guidelines in Singapore. As per recent news, Bitrue was hacked for ~$4.2M in XRP and ADA tokens but the customers were assured that all their funds would be duly returned. But as of now, they offer no insurance for the assets under custody indicate a serious lack of enough security layers for accounts and regulatory clarity.
The customer support lacks the efficiency while dealing with the English crowd as the exchange team is mostly comprised of Chinese executives. On the other front, their mobile app offers 170 coins to trade but the liquidity between pairs varies a lot and market sources have reported Bitrue of faking volume numbers. Bitrue’s decision of selling Bitrue Tokens within a year of exchange’s launch is not being perceived in a positive light either.
Is Alphaex.net going to be the saviour
AlphaEx is a full-featured spot trading platform for major digital assets & cryptocurrencies including XDC, Bitcoin, Ethereum, Ripple and Bitcoin Cash. It currently operates on the base of XDC, the trademark token of XDC hybrid blockchain network- a technology that has revolutionized the fintech business world and changed the working methodology of applications. The trading fee for the exchange is stated below but any XDC pair is free of any consumption or withdrawal fee, the latter of which varies as per industry exchange pair but is quite easy on the pocket. Moreover, the exchange keeps no deposit for the trading tokens which instantly removes the barrier for newcomers.
Buy Side: 0.50 % On Trade value
Sell Side: 0.50 % on Trade value
Alphaex exchange hosts an efficient mobile application apart from its online platform where one can buy crypto assets anytime during 24*7 duration. Its applications are accessible via strong and secure APIs, supported by high-end servers and automated order system. The applications are customised to provide deep insights to your portfolio, asset exposure, and distribution of balances by account. It also has features which show integrated advanced charting with over 100 technical indicators and drawing tools.
Most importantly, they provide asset security which protects the integrity of customer data at an extremely low trading fee. The exchange provides an option to store digital assets with qualified crypto custodians by law. These custodians are used by financial institutions, such as hedge funds, mutual funds for enabling secure transactions. With the advent of latest regulatory announcements about new compliance standards and licenses for digital asset exchanges, Alphaex has upped its security standard by adopting the AML/KYC method for trade and data protection of its customers. Being based out of Malta, the license and security standards are regulated by the Malta government which provides extra layers of assurance.
Alphaex currently accepts transactions via cryptocurrency as well as through OTC and doesn’t require any deposit fees for any of the token trading pairs. Unlike Bitrue, there customer support service has top-rated efficiency and provides a lead time of maximum 48 hours for request resolution. Their Telegram channel provides constant support and updates to the followers. Although, they have 10 token pairs currently listed on the exchange but they are constantly growing and are producing 28402.53 USD of the transaction volume as of now.
Now the question arises, which one of these is better? Well, that is not for us to decide as you’d be a better judge of the right place to invest your money. But overall, we’d suggest you to find a less ambiguous exchange with better security and Regulation.