TOPBTC is a cryptocurrency exchange allegedly from Australia. The owner of the exchange is apparently a company named DABTC PTY LTD. If the letters DABTC rings a bell to you, it might be because of the previously major Chinese cryptocurrency exchange DABTC. According to information on DABTC’s website, the assets and activities of DABTC was transferred to TOPBTC following China’s ban on cryptocurrencies.
Most Australian cryptocurrency exchanges are members of the organization ADCA (Australian Digital Commerce Association), but TOPBTC is not. This is not a warning flag per se, but still worth noting.
TOPBTC have not found any information that this exchange prohibits US-investors. However, most other Australian exchanges (e.g., ACX, CoinJar, Independent Reserve) prohibit US-investors. Accordingly, that US-investors might be prohibited is something that such investors should keep in mind.
To start trading with TOPBTC ,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 TOPBTC 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 TOPBTC account
Step 7. The next step is to complete your Know Your Customer (KYC) verification, for which you need to upload soft copies of your Permanent Account Number (PAN) and your Aadhaar ID card.
Step 8. TOPBTC Promise that they carry out KYC verification within the same day of the uploading soft copies of relevant documents.
After TOPBTC verifies your details, you can start trading on the exchange. The first step to start trading is to deposit either BTC or ETH into your TOPBTC wallet. After you do so, you can go ahead and buy or sell any of the cryptocurrency pairs that CoinDCX offers.
How To Deposit Fund On TOPBTC
Following are the steps to deposit crypto tokens on TOPBTC :
Login to your KYC verified TOPBTC profile
Click on “Portfolio” option on the top right of your trade page.
Click on “Deposit Coins” on the left side of the page.
You will see your wallet address.
On the other platform from which you wish to deposit you can copy the above wallet address.
You can also scan the QR code to avoid typing errors to directly copy the wallet address.
Once you click the “Send” button after putting the correct wallet address on the other exchange, you shall receive the crypto in your TOPBTC wallet.
TOPBTC Trading fees
This particular trading platform doesn’t charge different fees between takers and makers. Their fee model is instead something called a “flat fee model”. Their flat fee is 0.20% for both takers and makers. This is in line with industry average.
TOPBTC Withdrawal fees
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 buy house with bitcoin. In order to buy that house, 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.
Daily Withdrawal Limit N/A
TopBTC Withdraw fees 0%
TopBTC Withdraw fees discount N/A
Standard trading fees
The fees for trading at TopBTC are what you would expect. With a 0.20% fee for both market “makers” and “takers” this exchange is in-line with the major players.
The trading platform provided by TopBTC is average. The positioning of the different elements appears to be slightly off, requiring you to scroll a lot to get to the transaction history section. The charts on the other hand are very crisp and can be expended in a new window. Here is how they look:
TOPBTC Customer Support
You can get access to customer support at TOPBTC through a customised ticket system. To raise a query, enter your name, email address, write a brief description and one of the listed categories in a drop-down menu and submit the ticket.There is also a frequently asked questions (FAQ) section which addresses most basic queries. In addition, you can send an email at email@example.com.
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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.