Comparison of Bitrue vs Independent Reserve [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Bitrue vs Independent Reserve comparison!

Your expert: Alejandro Borja

bitrue

Bitrue

  • Threenvest valuation: 4,1/5
  • US legal: No
  • Security: High 4,9/5
  • Mobile App: Yes
Go exchange

Investing risks losing your money

Your expert: Xavier Tarrasó

independent reserve

Independent Reserve

  • Threenvest valuation: 4/5
  • US legal: No
  • Security: High 4,6/5
  • Mobile App: No
Go exchange

Investing risks losing your money

Main points

Fees

0,01%/0,35%

Earns

Yes

Customer service

4/5
≤0,50%

Fees

No

Earns

4/5

Customer service


Recommended for

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes
Yes

Beginners

Yes

Trading

No

Passive income

Yes

Buy and hold


Comparison of fees

Rating

4.0 – Low fees, particularly for XRP trading pairs.
3.9 – Reasonable fees with strong local support in Australia and New Zealand.

Level

0,01%/0,35%
≤0,50%

Brief explanation

Bitrue’s commission structure is designed to be competitive and accessible for traders of all levels. The exchange utilizes a tiered fee system, where the fees decrease as a user’s trading volume increases, incentivizing active trading. Typically, trading fees range from 0.098% to 0.028% for takers and from 0.075% to 0.020% for makers, which are below industry averages. This structure makes Bitrue an attractive option for both high-volume traders seeking to minimize costs and newcomers looking to enter the crypto trading space affordably.
Independent Reserve operates with a tiered fee structure that incentivizes higher trading volumes with progressively lower fees. The standard trading fee starts at 0.50% and can decrease to as low as 0.02% depending on the user’s 30-day trading volume. For deposits, there are no fees for electronic fund transfers (EFT) over AUD 100, and SWIFT transfers are free for amounts over AUD 5,000. Withdrawals to Australian bank accounts are free, while international withdrawals incur a fee of AUD 20. Cryptocurrency withdrawal fees are competitive, with a fee of 0.0003 BTC for Bitcoin, which is significantly lower than the global industry average​​.

Bitrue

bitrue
Read bitrue review
  • Security Methods: Bitrue implements robust security measures to protect user assets. These include two-factor authentication (2FA), cold storage of the majority of funds to minimize exposure to potential hacks, and encryption technology to secure users' data. These stringent security protocols are a cornerstone of Bitrue’s reliability.
  • Year Founded: Established in 2018, Bitrue has quickly risen to prominence in the cryptocurrency space. Despite being relatively new, it has built a reputation for reliability and innovation, indicating a solid foundation and a commitment to long-term growth and stability.
  • Trading Volume and Liquidity: Bitrue boasts a high trading volume and liquidity, which is indicative of a healthy trading environment. High liquidity ensures that traders can execute transactions quickly and at predictable prices, making Bitrue an attractive platform for both casual and serious traders.
  • Customer Service: Bitrue is known for its responsive and helpful customer service. Having a reliable customer support team is essential in the crypto space where users often need quick and effective solutions to their issues. Bitrue's commitment to excellent customer service fosters trust and user satisfaction.
  • Reputation and Reviews: The exchange has garnered positive reviews and a good reputation within the cryptocurrency community. User feedback often highlights the platform's user-friendly interface, range of supported cryptocurrencies, and the reliability of its services. Positive community feedback and testimonials further reinforce the trustworthiness of Bitrue.
  • Pros
  • Broad selection of cryptocurrencies.
  • Competitive trading fees.
  • Strong security measures.
  • Cons
  • Limited geographic availability.
  • No advanced trading tools.

Read bitrue review

Independent Reserve

independent reserve
Read bitrue review
  • Year Founded: Independent Reserve was established in 2013, making it one of the longest-running cryptocurrency exchanges in Australia. Its longevity in the market is a testament to its reliability and stability​​.
  • Reputation and Reviews: With over a decade of operation, Independent Reserve has built a strong reputation among users for its reliability and customer service. It has consistently received positive reviews and high ratings for its security, user experience, and customer support​​.
  • Regulation and Compliance: The exchange is registered with AUSTRAC (Australian Transaction Reports and Analysis Centre) and complies with stringent anti-money laundering (AML) and counter-terrorism financing (CTF) regulations. This regulatory adherence ensures a high level of trust and security for users​​.
  • Customer Service: Independent Reserve offers comprehensive customer support through various channels including email, support tickets, and a well-resourced help center. This ensures that users can get timely assistance for any issues they encounter​​.
  • Security Methods: Independent Reserve employs robust security measures including two-factor authentication (2FA), encryption of sensitive data, and cold storage for the majority of its cryptocurrency holdings. The exchange also conducts regular security audits and penetration testing to identify and mitigate potential vulnerabilities​​.
  • Pros
  • Strong adherence to regulatory standards.
  • High level of platform security.
  • User-friendly interface for beginners.
  • Cons
  • Limited selection of cryptocurrencies.
  • No margin trading available.

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Product selection

Native token

Token BTR (Bitrue Coin)
No

Earns

Yes
No

NFT marketplace

Yes
No

Cripto/debit card

Yes
No

Company information

Full name

Bitrue
Independent Reserve Pty. Ltd.

Regulation

Not regulated
Regulated in Australia

Year founded

2018
2013

Founder

Curis Wang
Adam Tepper

Payment methods

Transfers

No
Yes

Mastercard

Yes
No

Wire transfer

No
Yes

Card

Yes
No

Comparative table

Bitrue FEATURES Independent Reserve
Bitrue allows users to engage in trading with relatively low minimum trade requirements, making it accessible for beginners.
Minimum Trade
Minimum trade amounts at Independent Reserve are relatively low, making it accessible for new investors.
Bitrue offers competitive trading fees that are lower than many other exchanges, though they can vary based on market conditions and trading volume.
Trading and Transaction Fees
Fees are moderate compared to other exchanges, but some users might find them slightly higher for smaller trades.
Offers a wide range of cryptocurrencies, providing users with many trading options across popular and niche markets.
Number of Cryptocurrencies
Independent Reserve supports a decent range of popular cryptocurrencies, providing enough options for most investors.
Bitrue excels in offering a diverse array of crypto-to-crypto trading pairs, facilitating robust trading strategies.
Crypto-to-Crypto Trading Pairs
The exchange offers a fair selection of crypto-to-crypto pairs, though not as extensive as some larger platforms.
While Bitrue provides essential information, some users might find it difficult to locate detailed data about certain policies or operational aspects.
Website Transparency
The website is user-friendly and transparent about fees, regulations, and available services.
Bitrue lacks an exchange card feature, which is a notable omission compared to some competitors who provide this convenient service for everyday transactions.
Credit/Debit Card
Independent Reserve does not offer a card for in-store purchases.
Provides secure storage options with the integration of cold storage solutions, enhancing the safety of user funds.
Storage Offering
Offers secure storage options, including insurance for stored assets, enhancing user confidence in the platform’s safety.
One of Bitrue’s strengths, offering competitive staking options and rewards that are attractive to users looking to earn passive income.
Staking and Rewards
Independent Reserve does not have extensive staking or rewards programs compared to some other exchanges.
Both the mobile app and desktop platform are well-designed, offering full functionality with occasional user interface complexities.
Mobile App and Desktop
Both mobile and desktop platforms are well-designed, ensuring a seamless trading experience across devices.
Offers 24/7 customer support, though response times and the quality of support can vary, reflecting room for improvement.
Customer Service
Customer service is responsive, though there is room for improvement in speed and availability during peak times.
Bitrue provides a variety of deposit and withdrawal methods, although some users have reported delays with fiat transactions.
Deposit and Withdraw
Deposits and withdrawals are processed efficiently, with multiple options available, although some methods might incur fees.

Key features

Analysis tools

Basic charting tools
Basic charting tools

Mobile APP

Yes
No

Security

High 4,9/5
High 4,6/5

Additional features

Power Piggy staking, futures trading, Bitrue token (BTR) rewards, lending services
OTC trading, SMSF services, staking, insurance options

Anonymity

Yes
No

Key points

Available cryptocurrencies

100+
20+

User-friendliness

Bitrue offers a user-friendly platform that is easy to navigate, catering to both beginners and experienced traders. The interface is designed to facilitate smooth and efficient trading.
Independent Reserve offers a user-friendly platform that is easy to navigate, making it suitable for beginners. The interface is designed to facilitate a smooth trading experience with all necessary features easily accessible.

Value for money

Provides good value for money with low trading fees and a focus on XRP trading pairs, making it an attractive option for XRP enthusiasts.
Delivers good value for money with competitive fees and strong security features, suitable for Australian and New Zealand users.

Countries of operation

Singapore, United States, Canada, Australia, United Kingdom
Australia, New Zealand, Singapore

Best for

Best for XRP enthusiasts and other traders looking for a platform with low trading fees and a focus on XRP trading pairs.
Best for Australian and New Zealand investors looking for a reliable platform with competitive fees and strong security.

Base currencies available

USD, USDT, BTC
AUD, NZD, USD, BTC

Account

Trading

Bitrue offers a wide selection of cryptocurrencies and is known for its staking and loan services. It provides good liquidity but has faced some security issues in the past.
Independent Reserve is a popular exchange in Australia and New Zealand, offering a user-friendly platform and easy fiat integration. It supports a decent range of cryptocurrencies but has higher fees.

Deposit and withdrawal

Bitrue supports multiple deposit and withdrawal methods including bank transfers and crypto. Withdrawals are processed quickly, usually within 24 hours, with low fees.
Independent Reserve is popular in Australia and New Zealand, offering easy fiat and cryptocurrency deposit methods. Withdrawals are processed efficiently, with competitive fees.

Account opening process

Bitrue provides a straightforward account registration process. Users need to submit personal details and verify their identity. The process is efficient and usually takes less than a day, ensuring quick access to trading.
Independent Reserve provides an easy and user-friendly account opening process. Users need to provide personal information and verify their identity. The process is efficient and usually takes less than a day to complete.

KYC required?

Yes
Yes

Customer Service

Bitrue offers customer support via email and live chat. The support team is responsive, and support is available 24/7, ensuring users get timely help when needed.
Independent Reserve provides extensive customer support via email, live chat, and phone. The support team is responsive and available 24/7, making it reliable for users globally.

Security

Bitrue employs strong security features like 2FA, cold storage, and encryption. However, it lacks regulation from major financial authorities, which might be a concern for some investors.
Independent Reserve employs comprehensive security measures, including 2FA, encryption, and cold storage. It is regulated by Australian authorities, ensuring high security for investors.

Which of these exchanges is for you?

alejandro-borja-analista-de-brokers.webp

Alejandro Borja

As an expert on our website, I recommend Bitrue for those interested in a diverse selection of cryptocurrencies and robust security features. In my experience, Bitrue’s platform is user-friendly and ideal for both beginners and experienced traders. The exchange’s commitment to maintaining competitive fees and offering a reliable customer support service makes it a solid choice for anyone looking to engage with the crypto market effectively.
Xavier-tarraso-mascarell.jpg

Xavier Tarrasó

As an expert in cryptocurrency exchanges, I can confidently recommend Independent Reserve for several reasons. This platform excels in security and regulatory compliance, ensuring that your investments are protected. It supports multiple fiat currencies, making it accessible for users in Australia, New Zealand, and Singapore. While its selection of cryptocurrencies is somewhat limited, it offers a user-friendly interface and excellent customer support, making it ideal for beginners. For those prioritizing safety and reliability in their crypto trading experience, Independent Reserve is a solid choice.

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

 

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).


For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

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