Bitsten.com Token, created to support the Bitsten Exchange project, and will be the largest exchange in Indonesia and Asia in the future, they use a very small fee and share the profit of the company to the token holder as a reward, for its contribution to transaction in Bitsten.
Bitsten is a crypto exchange from Indonesia that launched in 2017. It is not the only exchange in Exchange List from Indonesia, but is accompanied by Tokocrypto, BTCBank and Indodax. Bitsten is open to US-investors. However, any US-investors interested in trading here should in any event form their own opinion on any issues arising from their citizenship or residency.
How To Start With Bitsten.com
To start trading with Bitsten.com,Indian residents first have to sign up for an account by following the steps below.
Step 1. Click on the “Login/Signup” link on the top right hand corner of the Bitsten.com website.
Step 2. In the form, fill in your first name, last name, mobile number, email ID and password.
Step 3. If you have a referral code, enter the code while creating your account.
Step 4. Submit the form and wait for an activation email to be sent to you.
Step 5. Click on the “confirm email” link in the activation email.
Step 6. After your account is activated, you’ll be sent a 6 digit one time password (OTP), which you have to enter after logging into your Bitsten.com account.
Bitsten Trading fees
Trading fees are naturally very important. Every time you place an order, the exchange charges you a trading fee. The trading fee is normally a percentage of the value of the trade order. Many exchanges charge what they call taker fees, from the takers, and what we call maker fees, from the makers. The takers are the people who “take” orders from the order book. This means that they remove order options from the order book and thereby remove liquidity. Makers are the ones who put the orders on the order book in the first place.
The main alternative to this is to simply charge “flat” fees. Flat fees mean that the exchange charges the taker and the maker the same fee. At this exchange, they don’t divide between takers and makers, but they charge flat fees: 0.15% of the order value. 0.15% is a bit below the industry average. Industry average has for a long time been 0.25%, but we are currently seeing a shift towards lower fees. Many exchanges now charge e.g. 0.10% or 0.15% instead.
Bitsten Withdrawal fees
The global industry average BTC-withdrawal fees are 0.000812 BTC. This figure was calculated by us here at Cryptowisser when we compiled the withdrawal fees of 200+ exchanges. Bitsten charges 0.0003 BTC when you withdraw BTC. Their withdrawal fees are thus almost 65% below the global industry average. All in all, the fees here are arguably quite in line with the current industry averages.
Bitsten does offer fiat currency deposits, but you can’t deposit via credit card. Also, you can only deposit IDR (Indonesian Rupiah). Accordingly, if you for some reason would prefer to deposit to your choice of trading platform via your credit card, or through any other fiat currency then the IDR, then you need to find another exchange. Don’t worry though, you can find an exchange that accept credit card deposits simply by using Exchange Finder tool.
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