FlowBTC

FlowBTC Review

What is FlowBTC?

FlowBTC is a Brazilian cryptocurrency exchange. It launched in 2015. The only cryptocurrencies you can buy and sell here are BTC, XRP, BCH, ETH, EOS, LTC and the less known TAKION.

FlowBTC Mobile Support

This trading platform is also possible to use through your smart phone.

US-investors

The exchange does not list US-investors as prohibited from trading, but US-investors should do their own independent assessment of any problems arising from their residency or citizenship.

FlowBTC Trading View

Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you. The below is a picture of the trading view at FlowBTC:

FlowBTC Fees

FlowBTC Trading fees

Every trade occurs between two parties: the maker, whose order exists on the order book prior to the trade, and the taker, who places the order that matches (or “takes”) the maker’s order. We call makers “makers” because their orders make the liquidity in a market. Takers are the ones who remove this liquidity by matching makers’ orders with their own.

FlowBTC’s trading fee for takers is 0.50%. Makers receive a discount for providing liquidity in the market and only have to pay 0.25%. The taker fees here are roughly the double compared to the industry average, whereas the maker fees are only slightly above industry average,

FlowBTC Withdrawal fees

Many exchanges have competitive trading fees but then hit you on the way out with their withdrawal fees. Let’s say you have reached your investment goals you want to cash out. When doing that, the exchange can make up for its low trading fees by charging you high withdrawal fees when you’re halfway out the door.

FlowBTC is not one of the bad guys when it comes to withdrawal fees. It charges a withdrawal fee amounting to 0.0006 BTC when you withdraw BTC. The last time an empirical study on withdrawal fees was made, this one, the study concluded that the average BTC-withdrawal fee was 0.00053 BTC per BTC-withdrawal. Accordingly, FlowBTC is quite in line with (only slightly above) the global industry average on this point.

Deposit Methods

The exchange offers wire transfer as a deposit method, but you can’t deposit via credit card. This of course negative news to you if you would prefer to use your credit card for any reason.