As it comes from the domain .de this exchange website is based in Germany for trading bitcoins exactly like LocalBitcoins so it isn’t just any trading exchange. It is a mediator between buyers and sellers just like OLX or e-Bay which directly connects buyers to sellers or vice versa and payments are made through Bitcoin.de.
Exchanges are made in BTC, BCH, and ETH and fiat currency is supported in euro using bank transfers. Signing up is fairly easy but advanced verifications are required for full-time trading on Bitcoin.de.
The UI is simple and easy to use especially for new traders and the website is available in different languages including French, German, English, Espanol etc.
Just like a shopping mediator sellers are given a trust level depending on the amount of trades they have done just like if you are buying an item on e-Bay you will first check the number of items sold and ratings the sellers have achieved to consider whether it is a scam or not and you should do business with such person or not.
Just like that, there are different degrees of trust levels so that you can have trust or suspicious on the seller. This scenario provides both buyers and sellers security to trade. The more successful deals one has made more successful ratings and trust he/she gets.
Both buyers and sellers are able to rate each other fairly and there is also withdrawal limits on different trust levels.
Currency and Country Support
As it is a Europe based website operating from Germany it only supports Euro as basic fiat currency and if you want you can trade in BTC/Euro, BCH/Euro, ETH/BTC or else.
When it comes to deposit and withdraw you can deposit crypto currency like bitcoin or ethereum to trade but for withdrawal you will need a bank account and if you are in Europe then there is more advantage to you cause it has a fair collaboration with Fidor Bank and processing transactions if you are one of Fidor account holder is quite fast.
It is available across whole Europe and its website has got English, Spanish, German, French and Italian language support they also have embedded google translate API if by chance you are not in any of the following countries.
Fees and Customer Support
The pricing and relatively seems fair. If the trade is done using Express trading via Fidor Bank the fee is 0.8% and if other options are used for wire transfer then 1% fee is charged that seems fair according to the security provided by the website.
The trade fee is equally split among buyer and sellers which seems quite wise and in withdrawal Bitcoin.de doesn’t keep and fees and transfers it to the Network.
Well, these fees pay off when it comes to customer support which is amazing and replies quicker and provides more information to the traders as compared to others there is online booking form, however, there are no chat and phone numbers.
Is Bitcoin.de Scam? [Online Reviews]
The online reviews are also quite amazing for Bitcoin.de as many have praised its User Experience and ease of trade while keeping in mind of its security also to both buyers and sellers.
The security is provided amazingly as coins are kept offline which is almost impossible to hack in and there have been no such reviews online of users loss of coins or big hacks into the website. Users are highly recommended to use 2 Step authentication for more security.
While! There is also a news that Bitcoin.de has provided the local law information agencies their users’ data without warrants or any notifications.
That is our review about Bitcoin.de it is a safe and sound escrow for trading with lots of security features and ease of use while there are still fewer deposit methods but if you are based in Europe this might be the perfect option for you to trade.
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