Bit2C

Bit2C Review

What is Bit2C?

Bit2C is an exchange based in Israel. It has been active since 2013. On 5  September 2022, the date of last updating this review, this exchange reported 288,820 transactions worth 54,105 bitcoins from 18,042 traders (according to information from their website). In comparison, on 9 June 2019, the exchange executed 168,344 transactions totalling 43,756 Bitcoins from 10,656 traders.

Bit2C Advantages

When looking at the advantages that they present on their website, they all seem quite standard in our opinion. That there is an order book, price history and trading tools is nothing but expected. Also, we’re not sure if their item “Community Trade” is really an advantage at all. Here is how they present it on their landing page:

US-investors

Unfortunately for US-investors, this exchange prohibits US-investors from trading on its exchange. Interested US-investors must therefore refer to any of the other top crypto exchanges.

Bit2C 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 Bit2C:

Bit2C Fees

Bit2C Trading fees

This used to follow a so-called “flat trading fee” model (1.00% for taker and maker). But with effective 4 September 2022 they revised their fees to 3.00% for takers and 2.50% for makers.

The trading fees are far above the industry average (which is approximately 0.25%). One should closely consider whether Bit2C has a strong offering to investors in other respects that outweigh the disadvantage of this higher trading fee.

Bit2C Withdrawal fees

What about withdrawal fees then? Withdrawal fees vary dependent upon which crypto asset you are withdrawing, but they are normally a fixed amout of the relevant crypto asset, and not a percentage based as the trading fees. The industry average BTC-withdrawal fee is 0.0004599 BTC in Q2 2022 according to Cryptowisser.com's empirical studies.

Bit2C charges 0.0005 BTC per BTC-withdrawal. This withdrawal fee is marginally above the industry average and thus a very non-competitive fee. 

Deposit Methods

Bit2C offers wire transfer as a deposit method, but credit cards are not a permitted deposit method. If you need to use your credit card for anything (to collect points or whatever), then this exchange is not the best cryptocurrency exchange site for you.