BTCXchange is a Romanian bitcoin exchange that offers trading fees of around 0.20%. Find out more about how BTCXchange works today in our review.
What Is BTC Xchange?
BTC Xchange is an international bitcoin exchange that promises to provide the best customer service in the industry. The company originally launched as a Romanian bitcoin exchange service.
Today, the exchange continues to be one of the few that offers RON/BTC trading, but it also caters to the international marketplace with USD/BTC and EUR/BTC trading.
BTCXchange has had an interesting history. After being launched in 2014, the platform rose and fell multiple times during its early years. it finally relaunched in August 2015, and then had a rocky path for about a year. In September 2016, the company discontinued its bitcoin exchange service.
Today, however, the exchange has relaunched with unique features like programmable bitcoin addresses. The exchange is under the new ownership and leadership of CEO Max Nicula, who moved the company from its original headquarters in Oradea to a new location in Iasi.
BTC Xchange now accepts popular currency pairs like USD/BTC and EUR/BTC. Romanians can also trade Romanian Leu (RON) for BTC.
Overall, BTCXchange claims to be the friendliest bitcoin exchange in Europe, and prides itself on offering the best customer service. Let’s take a closer look at some of the features that distinguish BTC Xchange from other options on the market.
How Does BTC Xchange Work?
One of the unique features on BTCXchange is the use of programmable bitcoin addresses. The programmable bitcoin addresses feature lets users generate an unlimited number of bitcoin addresses, then program them to automatically convert incoming deposits to the currency of their choice.
Users can automatically withdraw converted funds to their bank account of choice. In layman’s terms, users can choose whether they want a programmable bitcoin address to:
- Do Nothing
- Auto Convert Incoming Transfers
- Auto Convert + Withdraw Incoming Transfers to a Selected Bank Account
Right now, BTCXchange offers deposits and withdrawals through SEPA and SWIFT bank transfers. The exchange is available to Romanians as well as international users outside of Romania.
When BTCXchange originally launched, it was mainly available to Romanian customers. Today, the company continues to be headquartered in Romania but caters to the Romanian and international markets.
Overall, BTCXchange claims to have a total transacted volume of over 10 million Euros.
BTC Xchange Fees
You can view BTCXchange’s full fee structure on their website. Some of the key fees you need to know about include:
- Bitcoin Deposit Fee: 0%
- Bitcoin Withdrawal Fee: Flat rate of 0.001 BTC
- Bitcoin Deposit Arrival Time: 1 confirmation from the bitcoin network (typically takes about 30 minutes)
- Bitcoin Deposit/Withdrawal Processing Hours: 24/7/365
- Trading Fees for BTC/USD and BTC/EUR:24% for transactions, 0% fees for deposits and withdrawals (transaction fees only go down for trading volume greater than 20,000 EUR or USD per 30 day period)
- Minimum Deposit/Withdrawal for USD and EUR: 0 USD and 0 EUR
- Trading Fees for BTC/RON:00% transaction fee, 0.50% deposit fee, and 0% withdrawal fee (transaction fees drop to 1.00% and lower on 30 day volumes greater than 5,000 RON, although the deposit fee is always 0.50%).
Minimum Deposit/Withdrawal for RON: 5 RON deposit, 5 RON withdrawal
About BTC Xchange
BTCXchange is based at the following address in Iasi, Romania:
Movila Pacuret 2-4
You can contact the company by email at [email protected] or by phone at +40 373 78 44 98.
The company is led by CEO Max Nicula. In an interview with a Romanian-language Bitcoin news website called GoanaDupaBitcoin.ro, Max revealed that he has previously written algorithms for securities trading on NASDAQ and NYSE back in 2013 and 2014.
Nicula didn’t build BTCXchange from the ground up: he purchased the platform as a turnkey business. Before Nicula purchased the platform, it was based in Oradea, Romania.
Should You Use BTC Xchange?
BTCXchange originally launched in 2014 and had a rocky few years. Today, however, the exchange has stabilized under new ownership. The exchange is one of the few where you can buy and sell bitcoins for Romanian leu (RON).
You can also buy and sell BTC for USD and EUR. RON/BTC transactions have a fee of 1% to 2% or lower, based on your volume, while USD and EUR transactions have a fee of 0.20% unless you’re trading over 20,000 USD or EUR per month.
Overall, BTCXchange is a legitimate exchange that is particularly popular among Romanian bitcoin users, but also offers services for the international marketplace. You can learn more about BTCXchange by visiting the company online today.