Bitsane cryptocurrency exchange review

Bitsane Cryptocurrency Exchange
Bitsane Cryptocurrency Exchange

Get started faster with optional verification for crypto deposits and withdrawals on Bitsane.

Quick verdict

Great for:
  • Detailed market information
  • A wide range of cryptocurrencies
  • Does not require verification for crypto withdrawals
Not so great for:
  • Advanced trading features
  • Beginner-friendliness
  • Liquidity

Check out our full list of pros and cons or read on.

Product Name Bitsane Cryptocurrency Exchange
Fiat Currencies USD, EUR
Cryptocurrencies BTC, ETH, XRP, DASH, BCH, LTC, BTG
Deposit Methods Advance Cash
Bank transfer (SEPA)
Wire transfer
Trading Fee Maker: 0.05%
Taker: 0.1%
Deposit Fees Fees vary
Withdrawal Fees Fees vary
Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Learn more about Bitsane

Bitsane down

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
  • BTC
  • ETH
  • XRP
  • BCH
  • LTC
  • DASH
  • BTG

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

Type Fee
Maker 0.05%
Taker 0.1%

Deposit and withdrawal fees

AdvCash deposits
Type Fee
EUR 6%
USD 1%
SEPA/Wire deposits
Type Fee
TrustPay (EUR) 0.5%
MisterTango (EUR) 1 EUR
Withdrawal fees
Type Fee
SEPA zone (EUR) 5 EUR
Other countries (EUR) 30 EUR

Limits

Transaction type Limit
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?

Deposits

Clock icon for transfer speed

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.

Withdrawals

Clock icon for transfer speed

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.

Wallet transfers

Clock icon for transfer speed

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

Pros

  • 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

Cons

  • 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?

Compare Bitsane against other exchanges

Name Product Deposit methods Fiat Currencies Supported Cryptocurrencies
Bank transfer
Credit card
Debit card
Bank transfer (SEPA)
USD, GBP, AUD, EUR, INR, ARS, BRL, CAD, CNY. NZD, DKK, HKD, ILS, JPY, KES, CHF, MXN, NOK, PHP, PLN, SGD, SEK, AED
BTC, LTC, ETH, BCH, BAT, DASH, BTG, XRP, VOX
Buy, send and convert more than 35 currencies at the touch of a button.
Cryptocurrency
BTC, XRP, USDT, ETH, NEB, XVG, TRX, NEBL, ETH, NEO, FUN, ETC, BCC, POE, DASH, ELF, & 80+ more
Trade an extensive range of reputable coins on this world-renowned exchange, popular for its high liquidity and multi-language support.

US residents: US-based users have been restricted from Binance since June 2019.
UK residents: In addition to normal crypto trading services, Binance offers margin lending. As this is a regulated activity which they are not authorised to offer in the UK, we advise you not to use this service. If you're interested in margin trading, see authorised providers.
Electronic Funds Transfer
Bank transfer (SEPA)
Wire transfer
USD, EUR, GBP, JPY, CAD
BTC, ETH, XRP, BCH, EOS, LTC, ADA, XLM, DASH, XMR, USDT, ETC, QTUM, ZEC, REP, DOGE, GNO, MLN, ATOM, XTZ
Buy, sell and trade a range of digital currencies on this high-liquidity exchange – suitable for beginners right through to advanced traders.

UK residents: In addition to normal crypto trading, Kraken offers margin lending. As this is a regulated activity which they are not authorised to offer in the UK, we advise you not to use this service. If you're interested in margin trading, see authorised providers.

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FAQs

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