Bitblinx
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BitBlinx Review
Pros
- Has an app
Cons
- High trading fees
- Lack of passive income
- No NFT support
About BitBlinx
BitBlinx is a bare-bones crypto exchange. With few tokens, no NFTs, and high fees, this exchange does not offer a lot to investors.
Lack of Bonuses at BitBlinx
With the exception of investing, BitBlinx does not seem to offer any bonuses or ways of making passive income, as of now.
Other exchanges will have welcome bonuses, or the opportunity to “learn and earn.” Another common form of passive income is through crypto staking, where you lock in an amount of crypto and then earn an annual percentage. None of this is currently offered by BitBlinx.
Trading Fees
The trading fees at BitBlinx will vary depending on your 30-day trading volume. The highest fees will be a makers fee of 0.02% and a takers fee of 0.5%. The cheapest fees, if you are trading $2,500,000 every month, are 0.01$ for makers and 0.2% for takers.
Given the industry average according to our extensive review of trading fees is 0.1875% for makers and 0.2323% for takers fees, most takers will be charged well above the industry average. You would have to have a monthly trading volume above $500,000 to qualify for fees below the industry average.
Tokens Available
BitBlinx offers a strikingly small amount of tokens and available trades on their markets. For example. They support roughly twenty coins, or as they say “over 17 cryptocurrencies” and have very limited trading pairs. For example, with US Dollars you can only buy Bitcoin. With Euros, you can buy Bitcoin or Valuto (VLU).
This is a problem if you want to buy certain coins or jump on the latest release as soon as it comes out. Of course, if you just want to buy some of the biggest cryptos out there, you will be fine here at BitBlinx in terms of tokens available.
Withdrawal and Deposit Fees
BitBlinx does not charge any additional fees for deposits and withdrawals. You will only have to pay the blockchain fees, which is the minimum you will have to pay at nearly every exchange.
Signing up with BitBlinx
BitBlinx will make all new users go through the proper KYC (know your customer) protocols. You will need to verify your documents and your address in order to process any withdrawal with BitBlinx.
NFT Support
BitBlinx does not offer an NFT (non-fungible token) wallet or marketplace. If you want to be part of this growing trend, you will have to do that on a different site.
App vs Desktop experience
There is a BitBlinx app that you can download from the Apple Store or the Google Play Store. In the Google Play Store, the app has a rating of 3.4 out of 5 stars as of this writing (May 2022).