Bitsane cryptocurrency exchange review
Get started faster with optional verification for crypto deposits and withdrawals on Bitsane.
- Great for its detailed market information
- Not so great for its lack of advanced trading features
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|Product Name||Bitsane Cryptocurrency Exchange|
|Fiat Currencies||USD, EUR|
|Cryptocurrencies||BTC, ETH, XRP, DASH, BCH, LTC, BTG|
Bank transfer (SEPA)
|Deposit Fees||Fees vary|
|Withdrawal Fees||Fees vary|
Learn more about Bitsane
The Bitsane website has gone down without explanation, and Bitsane social media accounts have started disappearing. Some users are saying they have not received any information from Bitsane regarding the outage.
What you can do if you have funds on the exchange
Bitsane is a registered company in Ireland, and you can view its registered address and other information by searching for its name or business registration number (574549) on the Ireland Companies Registration Office website. Bitsane staff are also listed on LinkedIn, including CEO Aidas Rupsys.
If you have been affected by this, you may want to try contacting Bitsane directly, or reporting it to the relevant authorities in Ireland or your country.
What fiat currencies and cryptocurrencies are supported?
Supported fiat currencies:
- Supported fiat currencies: USD, EUR
- Supported cryptocurrencies: 7 cryptocurrencies
Which payments methods are accepted?
- Advance Cash
- Bank transfer (SEPA)
- Wire transfer
What's it like to use Bitsane?
Fees and limits
Platform trading fees
Deposit and withdrawal fees
|MisterTango (EUR)||1 EUR|
|SEPA zone (EUR)||5 EUR|
|Other countries (EUR)||30 EUR|
|Deposit||Min 10 EUR – 50,000 EUR max per transaction|
|Withdrawal||Min 10 EUR – 50,000 EUR max per transaction|
How fast will my funds be available?
Near instant to several business days
Deposits can be made within a minute if using AdvCash or with most SEPA payments.
Wire transfers may take from 24 hours to several business days.
Same-day to several business days
Withdrawals are made to your bank account. It can be done on the same day, or may take several business days to process depending on location.
Near instant to several business days
Cryptocurrency transfers can usually be made nearly instantly.
Is Bitsane safe to use?
- Regulation. Bitsane is a registered company in Ireland (business number 574549) with a physical address listed in Dublin. It was registered in 2016, when the exchange first launched and is listed in Ireland's Companies Registration Office. It takes appropriate steps to verify users in line with AML/KYC obligations.
- Verification. Bitsane does not require all users to verify themselves. Verification is only required when using a bank wire transfer to deposit or withdraw funds. Verification is not required for cryptocurrency deposits or withdrawals.
- Security features. Bitsane offers, and recommends, that users activate two factor authentication. It says it uses cold storage for user funds and other cybersecurity best practices.
Negative reviews and complaints in January 2018
There are a lot of complaints about Bitsane.
Many people report losing money on Bitsane with deposits that never went through, and many people have accused Bitsane of being a scam. However, some of those who have made accusations later said that their funds went through in the end, and were just slow rather than stolen. Others report using it with no problems.
A lot of the issues were the result of an unexpected load of traffic that hit Bitsane in early 2018, when a CNBC article mentioned it as a place to buy XRP. The unexpected traffic caused technical issues which resulted in a lot of poor user experiences. Many of the complaints are from that period of time.
You might want to consider this incident when looking at reviews lodged in January 2018 and compare this against reviews lodged outside this period.
Bitsane is overall relatively opaque compared to many more active exchanges, with a minimal social media presence and a more obscure team than more publicity-friendly exchanges. However, its team is still publicly identifiable through social media.
Its trade volumes are also relatively low, and its marketing presence seems to have generally diminished since 2016 and 2017. But there are still signs of Bitsane working on the exchange behind the scenes. It's been actively following events like forks and de-listings with clear communication to its users.
How do I create an account at Bitsane?
What else do I need to know about Bitsane?
Bitsane is one of the very few cryptocurrency exchanges based in Ireland. With headquarters in Dublin, this global exchange serves not only the UK, Ireland and Europe, but reaches right around the globe.
Launched in 2016, Bitsane offers both crypto-to-fiat (EUR and USD) and crypto-to-crypto trading.
Bitsane also offers an API to software developers who want to integrate Bitsane markets into their own cryptocurrency-related applications.
In addition to Bitsane, your account will also let you sign into the Bitsane-powered Anybits exchange, which is similar except dedicated to crypto-to-crypto exchanges.
In a nutshell
- Mobile-friendly site lets you trade on desktop, phone or tablet
- Sophisticated trading platform for finding detailed market information
- No verification required for cryptocurrency deposits or withdrawals
- Wide range of cryptocurrencies available if there's enough volume
- Low liquidity means order books might be thin for big traders
- No advanced trade features with only market and limit orders
- Complex interface might be confusing for beginners
Ready to sign up?