Fatbtc.com is a Chinese cryptocurrency exchange, which accepts local bank transfers. That being said, they are not a pure entry-level company (like Coinbase), as they also facilitates active altcoin trading.
Fatbtc.com is one of the many Hong Kong cryptocurrency exchanges. There are loads of coin exchanges from Hong Kong. Hong Kong is in a way the Mecca of cryptocurrency trading. A large, but not complete, list of competitors to this exchange on its home turf includes Binance, Bit-Z, KuCoin and BitFlip.
Fatbtc.com Account Registration Method
- First, click “Sign Up” in the upper right corner from the Fatbtc.comtop page
- Then set up your email address and password.
- After setting the mail address and password, click “Get code”
- Since an e-mail code is sent to the registered e-mail address.
- If you click “Get code”, there is a time limit of 60 seconds, so let’s input within 60 seconds.
- Finally, check the agreement of the terms of service and check “Sign Up” and register your account with Fatbtc.com.
FatBTC Trading fees
This specific exchange charges its fees on a “flat” basis. This means that they do not have different fees for takers or makers. Both parties in a trade needs to pay the same fee. FatBTC’s flat fee is 0.20%. 0.20% is slightly below the global industry average.
However, compared to its Hong Kong domestic counterparts, 0.20% is actually a bit above industry average. This is because Hong Kong exchanges typically charge lower trading fees than exchanges from other countries.
FatBTC Withdrawal fees
Fatbtc.comv Many exchanges have competitive trading fees but then hit you on the way out with their withdrawal fees. Let’s say you have reached your investment goals and you are looking to pay with Bitcoin in real life. In order to do so, you need to withdraw the funds. And when doing so, the exchange can make up for its low trading fees by charging you high withdrawal fees when you’re halfway out the door.
The 0.20%, charged by Fatbtc is pretty much in-line with the offers by other exchanges. Everything under 0.25% is to be considered ok, while some venues go even lower. Keep in mind, liquidity is also a major factor when it comes to your actual costs of trading.
No Deposit fees
Fatbtc.com does not charge anything extra on the crypto deposits to the exchange. We didn’t manage to find info on fees for fiat currency deposits. Don’t forget there will be some sort of costs associated with either blockchain or ban transfers.
It is also revealed by a FatBTC exchange review that they reserve the right to delist a trading pair if it will help to protect their users. For example, they will delist a trading pair if there are major legal issues negatively impacting a project, when there are serious technical and security issues, when the team behind a project gets disbanded, when average trading volume is less than $1000 per day over 30 consecutive days, etc.
Fatbtc.com are many aspects relevant to consider when determining an exchange’s security. One such aspect is Mozilla’s Observatory-test FatBTC only received an F-score in this test. This is actually the most common grade among the exchanges listed in Cryptocurrency Exchange List, but it does show that there is at least some room for improvement for this trading platform.
Is it safe to use Fatbtc.com?
Fatbtc.com enforces two-factor authentication (2FA) to protect your account. So users have to verify that they actually are the account holder before they can log in. The use of 2FA means you get extra security against any hacking attempts. It also helps in decreasing the risk of identity theft.
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