BitRabbit Review 2023
BitRabbit is an Australian-based exchange launched in February 2018. BitRabbit’s team comes from diverse industries relevant to running a cryptocurrency exchange, such as finance, the internet, and blockchain.
|Listed Cryptocurrency||BTC, ETH, BRB, USDT, and more|
|Supported Fiat Currencies||No|
|Supported Countries||Most of All, Except the USA|
|Withdrawal Fees||Depend on Currency|
BitRabbit has introduced a good level of security measures to counteract security breaches that range from some of the common technical breaches and cyber threats. Using BitRabbit, the traders can tackle issues like attacks and hacks.
These security measures are achieved by using blockchain technology that involves using smart contracts to provide complete automation to the platform, simultaneously increasing the platform’s transparency for the traders.
What Is BitRabbit?
According to our BitRabbit review, BitRabbit exchange is a well-known cryptocurrency exchange based in Taiwan and Australia. This exchange offers a wide choice of trading services like cryptocurrency trading, spot trading, futures trading, OTC (over-the-counter) trading, and several more.
BitRabbit exchange offers a multilingual user interface, one of the most advantageous features. This feature helps the users who do not have English background; users from different countries can trade in this platform using this multilingual feature and can have access to trade cryptocurrencies.
How Does BitRabbit Work?
BitRabbit is one of the well-known cryptocurrency exchanges that was established from the Australian legal framework. As per our BitRabbit reviews, this platform is currently one of the largest digital exchanges in Australia; further, the word “rabbit” explains the speed and changes in crypto and the blockchain.
BitRabbit is a decentralized platform that uses an algorithm known as the proof-of-stake to verify the transactions. This algorithm creates a familiar proof-of-stake process that ensures that the blocks are chosen at random. It also introduces a method that helps the users improve the network’s speed to approve the transactions. It is one of the most advantageous methods for handling more than 1 million transactions per second.
Is BitRabbit Regulated?
BitRabbit exchange is a digital currency exchange that offers its users trading services with cryptocurrencies and their derivatives on the market anywhere and anytime. This exchange was established under Australia’s legal framework by offering the highest level of security, experience, and liquidity. It is a neutral trading platform to satisfy the high trading volume demands of the cryptocurrency sector.
Features of BitRabbit
Here are the important features of BitRabbit:-
- To allow the users to gain easy access to the platform, the developers of BitRabbit have designed a simple and user-friendly interface. The user may not have or possess any technical skills to trade on the platform. It also offers a mobile and web apps interface that allows users to trade on this platform easily.
- Currently, one of the major problems faced by several cryptocurrency exchanges is lower market liquidity. This is a situation where a cryptocurrency exchange has a shortage of liquid; other trading operations will be a problem for the user. This exchange provides easy access to higher liquidity. Their income comes from the stock market, and they also partner with few corporate financial establishments and some major exchanges. This makes it possible for BitRabbit to get access to market liquidity.
- BitRabbit offers high-quality customer service that helps customers adapt to a new generation of high-class technology to ensure effective and hassle-free trading operations on their platform. If the user experiences any technical problem or any other problem, they can call customer service 24×7 to get it sorted.
- Security is one of the crucial aspects of any cryptocurrency exchange. If any exchange lacks in this aspect, it will pave the way for cyberattacks, and the hackers might find a way to emblaze funds from the user account. The BitRabbit team had made strict security measures their topmost priority and safeguarded the user’s fund at all costs. BitRabbit’s security system has developed a modern security protocol, device detector, and two-factor authentication for mobile SMS and Google authentication.
- BitRabbit native token is a BRB token, and it is majorly used in the BunnyPub in various exchanges. This token can be used in two ways, like voting within the BitRabbit platform, and it can be used for ad purchasing. The functions of this token are linked with the traffic and the BRB token. Moreover, BRB tokens AD traffic creates a pool of traffic to the website. Further, BRB coins might increase in value when the demand for their Ads increases, and they can also be used for promotions and marketing. Investors who are planning to invest in BRB tokens can reap the rewards in the long term.
Product & Services Offered by BitRabbit Exchange
Here are the products offered by BitRabbit:-
- BitRabbit exchange platform invests in various stock markets and with other financial derivatives using cryptocurrencies. It also offers current market news and professional market analysis.
- One of BitRabbit’s products is BAI, offered for long-term investors who are not interested in investing in a high-risk market.
- BunnyPub is a blockchain community, and the users of BitRabbit can mine BRB. If users want to mine BRB, they need to have a few BRB tokens in their wallets before they start mining.
BitRabbit Exchange Reviews: Pros and Cons
|This platform is reliable and efficient.||This platform does not support US customers.|
|BitRabbit provides an excellent user-friendly interface.||BitRabbit does not support fiat currencies.|
|The users can earn rewards in Bitcoin.|
|BitRabbit offers high-security measures.|
|The exchange offers fast transaction speeds and easy payment options.|
Getting Started With BitRabbit Exchange
Here are a few steps about how to get started with BitRabbit Exchange:-
- The first step is to sign-up on the platform by providing basic details like name, address, email, and phone number.
- The user will receive an email to their inbox with a verification link to activate their account.
- Users need to deposit funds and start trading when they activate their account.
How To Buy/Sell/Trade With BitRabbit?
Here is a quick guide about how to buy/sell with BitRabbit:-
- The user should sign up and register on the BitRabbit platform by creating a username and password.
- The user should send their document to BitRabbit, and they should verify their account by submitting the information requested by the exchange.
- When the registration is complete, they need to add funds to their user account for trading.
- The user can start buying or trading, and they can use their funds to transact with the exchange.
It is important to note that several exchanges ask the user to perform the KYC process before trading. For this process, the user should upload a legal document that identifies them to the BitRabbit platform, and this process is safe and secure.
Trading fees are very important when the user places an order every time; this exchange charges a small amount as trading fees. The trading fee is a small percentage of the value of the trade order. BitRabbit charges 0.1% as a trading fee.
Compared with most prominent exchanges that charge 0.10% to 0.15% trading fees, BitRabbit users pay the same transaction fees as 0.10% of their order value. There are no fees charged for deposits, but BitRabbit charges a withdrawal fee of 0.0005 BTC when the user withdraws BTC, below the industry average. Moreover, the withdrawal fee charged by BitRabbit is 40% lower when compared with other exchanges. To have more detailed information on the fee structure of BitRabbit check here.
BitRabbit Deposit & Withdrawal Methods
According to several BitRabbit reviews, this exchange does not accept deposit methods other than cryptocurrencies. This might be a drawback for new investors who would like to trade on this platform. They need to purchase cryptos from other exchanges, and they need to deposit with BitRabbit. Further, deposits are free of charge, and BitRabbit charges 0.10% as a trading fee.
BitRabbit Supported Cryptocurrencies and Countries
BitRabbit does not support users from the United States of America. Some of the significant cryptocurrency pairs supported by BitRabbit are:-
Bitcoin pairs -> MCO/BTC, STREAM/BTC, ICH/BTC, KTC/BTC, ACE/BTC
Ethereum pairs -> MITH/ETH, WEBD/ETH, EXMR/ETH
Tether pairs -> KTC/USDT, ACE/USDT, TEAM/USDT, WEBD/USDT
BitRabbit ICO Details
BitRabbit’s publications in the English language offer few details regarding the BRB token. BRB token was issued by Bunny Pub and BitRabbit exchange; it is a reward point system that is based on blockchain. The total circulation of BRB tokens is over 2 billion.
BitRabbit Trading Platform
BitRabbit is the best trading platform that can be accessed by users globally. This platform uses a performance engine that guarantees a faster transaction process and a unique internal risk control mechanism. In this way, it ensures swift production data operation and usage standards. This platform is a centralized and decentralized cryptocurrency exchange platform designed for high speed, lower transaction costs, and security as a top priority.
BitRabbit Mobile App
Compared with other crypto exchanges, BitRabbit offers a trading platform in a mobile app. Users can download the mobile app on the app store to their Android with little effort. This app is helpful for traders to trade on the go rather than using their desktops.
BitRabbit Security Measures
BitRabbit is Australia’s leading and largest cryptocurrency exchange and offers a matching engine that can execute 1 million transactions a second. It also provides a decentralized system to protect user’s interests and assets. BitRabbit has created solid and unauthorized access protocols for its users created by the BitRabbit team. The team comprises highly experienced professionals who take care of the highest security standards. Also, it offers multi-layer encryption and a strong firewall that protects the user’s wallet.
BitRabbit Customer Support
One of the major challenges for every cryptocurrency exchange is offering excellent customer care support to its users. BitRabbit offers customer support 24×7 to attend to any queries from the users concerning the platform’s usage. It has a highly skilled and experienced support team to give timely responses to the client’s issues. It also provides social media accounts that may provide support.
BitRabbit Review: Conclusion
To conclude, BitRabbit is one of the leading and most reliable crypto exchange platforms that has been created to address the needs and requirements of crypto traders. This exchange has been secured with the latest security technologies to check hackers’ activities and avoid cyber threats.
Further, some features like low transaction fees, user-friendly interface, high liquidity, dedicated customer support, a wide range of crypto-asset trading volume pairs, market analysis, real-time market trading prices are worth mentioning. The team behind this platform is very experienced and offers many tools for professional traders to trade on this platform and have social media platforms for the latest updates.
Is BitRabbit Safe and Legit?
According to several BitRabbit reviews, BitRabbit is a crypto exchange registered in Australia. It has several security measures in place to counteract theft and hacking. Further, it is regulated by few Australian establishments to protect its users.
How Do I Withdraw Money From BitRabbit?
To withdraw money from BitRabbit, the user should log in to the trader’s account, click the withdrawal button, and specify the currency they would like to withdraw. Also, BitRabbit charges a withdrawal fee of 0.0005 BTC when the user withdraws BTC.
Why Choose BitRabbit?
BitRabbit is a decentralized platform that allows users to control their trading volume activities or leave this function to the BitRabbit platform to execute the trading functions on their behalf.
How to Deposit Money in BitRabbit?
According to our BitRabbit reviews, BitRabbit exchange does not accept other deposit methods; it accepts deposits only in cryptocurrencies. Also, it does not accept fiat currencies. The new traders who would like to trade on this platform must first buy cryptos from other platforms and deposit them on this platform.