Secondbtc.com crypto guide must provide reviews of all of the exchanges out there, so that you can find the right one for you. This review of SecondBTC consists of four parts: general info, fees, deposit methods and security. “SecondBTC is mainly focused to List Coins for Free, They value Users and we aim to give full support to our users in case of any problem.”
To start trading with Secondbtc.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 Secondbtc.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 Secondbtc.comaccount.
SecondBTC 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 they 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 charge flat fees: 0.20%. 0.20% is in line with the global industry average which is arguably around 0.25%. They are however currently seeing a shift towards even lower fees. Many exchanges now charge e.g. 0.10% or 0.15% instead.
SecondBTC Withdrawal fees
Another fee to consider before choosing which exchange to trade at is the withdrawal fee. The withdrawal fee is usually fixed (regardless of the amount of crypto units withdrawn), and varies from crypto to crypto. For BTC-withdrawals, this exchange charges 0.001 BTC. This is slightly above the industry average. Global industry average BTC-withdrawal fee is approx. 0.0008 BTC. All in all, this exchange’s fee levels are in line with industry average.
Secondbtc.com does not accept any deposits of fiat currency. This means that the new crypto investors (i.e., the investors without any previous crypto holdings) can’t trade here. In order to purchase your first cryptos, you need a so called entry-level exchange, which is an exchange accepting deposits of fiat currency. Find one by using Exchange Finder!
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One of Coinworldstory's longest-tenured contributors, and now one of our news,ico,hyip editors, Verna has authored over 6900+ stories for the site. When not writing or editing, He likes to play basketball, play guitar or visit remote places. Verna, to his regret, holds a very small amount of digital currencies.