Comparison of Bitrue vs Simpleswap [ 2024 ]

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

Your expert: Alejandro Borja

Bitrue

Your expert: Xavier Tarrasó

Simpleswap

Main points

Fees

0,01%/0,35%

Earns

Yes

Customer service

4/5

≈ 1,20%/2%

Fees

Earns

3/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Trading

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.0 – Low fees, particularly for XRP trading pairs.

4.0 – Competitive fees with a focus on instant crypto swaps.

Level

0,01%/0,35%

≈ 1,20%/2%

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.

SimpleSwap’s commission structure is streamlined to cater primarily to crypto-to-crypto transactions. It charges a variable fee for each transaction, which typically ranges from 0.1% to 0.5% depending on the specific cryptocurrencies involved and market conditions. This fee is integrated into the exchange rate displayed at the time of the transaction, ensuring transparency. The platform does not impose additional fees for deposits or withdrawals in cryptocurrencies, which is a significant advantage for users looking to minimize costs. However, users should be aware of network fees determined by the blockchain of the cryptocurrency being used, which are not controlled by SimpleSwap but are necessary for processing the transactions on the respective networks.

Bitrue

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.

Simpleswap

Security Methods: SimpleSwap ensures security by utilizing standard encryption protocols and security measures, safeguarding user transactions and data from unauthorized access.
Number of Cryptocurrencies: Supporting over 300 cryptocurrencies, SimpleSwap provides a diverse and extensive range of trading options, which speaks to its robustness and adaptability in the dynamic crypto market.
Trading Volume and Liquidity: Although specific numbers on trading volume aren't disclosed, the variety of cryptocurrencies supported and the platform's ability to fulfill swap requests promptly suggest a healthy level of liquidity.
Customer Service: SimpleSwap offers reliable customer support, which is crucial for user trust. Their support is accessible and designed to assist users with any issues or questions they may encounter.
Reputation and Reviews: The platform has gained positive reviews from users for its ease of use and efficiency. These testimonials build credibility and trust among potential and existing users, highlighting SimpleSwap's commitment to user satisfaction.

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Direct link to the website

Product selection

Native token

Token BTR (Bitrue Coin)

Earns

Yes

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

Bitrue

SimpleSwap Ltd

Regulation

Not regulated

Year founded

2018

Founder

Curis Wang

Unknown

Payment methods

Transfers

Mastercard

Yes

Wire transfer

Card

Yes

Comparative table

Bitrue	FEATURES	Simpleswap
Bitrue allows users to engage in trading with relatively low minimum trade requirements, making it accessible for beginners.	Minimum Trade	SimpleSwap supports flexible trading with no minimum deposit, making it accessible for casual users and beginners to start trading with any amount.
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	The platform operates with a straightforward fee structure but lacks the transparency of detailed fee breakdowns that might benefit users looking for cost efficiency.
Offers a wide range of cryptocurrencies, providing users with many trading options across popular and niche markets.	Number of Cryptocurrencies	Offers a wide variety of over 300 cryptocurrencies, providing users with extensive options for trading different digital assets.
Bitrue excels in offering a diverse array of crypto-to-crypto trading pairs, facilitating robust trading strategies.	Crypto-to-Crypto Trading Pairs	Supports numerous trading pairs, allowing for versatile crypto-to-crypto exchanges, though it could expand into more niche or emerging cryptocurrencies.
While Bitrue provides essential information, some users might find it difficult to locate detailed data about certain policies or operational aspects.	Website Transparency	While the website is user-friendly, it could improve by providing more detailed information about the company’s background and operational logistics.
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	SimpleSwap focuses solely on cryptocurrency exchanges and does not provide additional financial tools like an exchange card, limiting its utility for everyday transactions.
Provides secure storage options with the integration of cold storage solutions, enhancing the safety of user funds.	Storage Offering	Provides secure storage options, though detailed information on security measures and storage capabilities could be more transparent.
One of Bitrue’s strengths, offering competitive staking options and rewards that are attractive to users looking to earn passive income.	Staking and Rewards	Limited staking options and rewards are available, which could be enhanced to attract long-term investors.
Both the mobile app and desktop platform are well-designed, offering full functionality with occasional user interface complexities.	Mobile App and Desktop	Offers a functional mobile app that is efficient and convenient for trading on the go, although further enhancements could improve user experience and features.
Offers 24/7 customer support, though response times and the quality of support can vary, reflecting room for improvement.	Customer Service	Generally receives positive feedback for customer service, but could benefit from extended support hours and faster response times.
Bitrue provides a variety of deposit and withdrawal methods, although some users have reported delays with fiat transactions.	Deposit and Withdraw	Crypto deposits and withdrawals are supported, but the addition of fiat options and reduction of withdrawal fees would improve this feature.

Key features

Analysis tools

Basic charting tools

No trading tools, primarily a swap service

Mobile APP

Yes

Security

High 4,9/5

High 4,5/5

Additional features

Power Piggy staking, futures trading, Bitrue token (BTR) rewards, lending services

Instant crypto swaps, SimpleSwap Earn, loyalty program

Anonymity

Yes

Key points

Available cryptocurrencies

100+

300+

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.

SimpleSwap features an intuitive and user-friendly interface that is easy to navigate, making it suitable for beginners. The platform focuses on providing a seamless trading experience.

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 a straightforward swapping service, making it an easy option for quick trades.

Countries of operation

Singapore, United States, Canada, Australia, United Kingdom

Global, including United States, Canada, United Kingdom, Australia, Germany

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 traders looking for a straightforward and quick cryptocurrency swapping service with competitive fees.

Base currencies available

USD, USDT, BTC

BTC, ETH (varies by transaction)

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.

SimpleSwap is a non-custodial exchange known for its fast and anonymous transactions. It offers a wide range of cryptocurrencies but lacks advanced trading features and tools.

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.

SimpleSwap is a non-custodial exchange known for its fast transactions. It supports various deposit methods, and withdrawals are processed quickly with low 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.

SimpleSwap offers an easy and quick account registration process. Users need to submit personal details and verify their identity. The process is fully digital and typically takes less than a day to complete.

KYC required?

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.

SimpleSwap offers customer support via email and live chat. The response time is quick, but the support team is not available 24/7, which may be a drawback for some users.

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.

SimpleSwap offers strong security with 2FA and encryption. Despite its robust security measures, the platform is not regulated by top-tier financial authorities, which could be a concern for some investors.

Which of these exchanges is for you?

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 Tarrasó

As an expert on cryptocurrency exchanges, I find SimpleSwap to be a commendable platform for those just starting with cryptocurrencies. Its straightforward and intuitive interface removes much of the complexity typically associated with crypto trading. This accessibility makes it an excellent choice for newcomers who might be overwhelmed by more advanced trading platforms. However, it’s important to note that while SimpleSwap excels in simplicity and ease of use, it may not fully satisfy the needs of more seasoned traders looking for advanced trading tools and features. For those just entering the crypto space, SimpleSwap offers a gentle introduction without the intimidating barriers to entry seen in other exchanges.

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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.

Comparison of Bitrue vs Simpleswap [ 2024 ]

Bitrue

Simpleswap

Main points

Recommended for

Comparison of fees

Rating

Level

Brief explanation

Bitrue

Simpleswap

Product selection

Native token

Earns

NFT marketplace

Cripto/debit card

Company information

Full name

Regulation

Year founded

Founder

Payment methods

Transfers

Mastercard

Wire transfer

Card

Comparative table

Minimum Trade

Trading and Transaction Fees

Number of Cryptocurrencies

Crypto-to-Crypto Trading Pairs

Website Transparency

Credit/Debit Card

Storage Offering

Staking and Rewards

Mobile App and Desktop

Customer Service

Deposit and Withdraw

Key features

Analysis tools

Mobile APP

Security

Additional features

Anonymity

Key points

Available cryptocurrencies

User-friendliness

Value for money

Countries of operation

Best for

Base currencies available

Account

Trading

Deposit and withdrawal

Account opening process

KYC required?

Customer Service

Security

Which of these exchanges is for you?

How do we review crypto exchanges?

Risk Disclaimer

More comparatives Bitrue and Simpleswap