What is Bitclude? One we can rely on? Does it have the features that you’d most likely need to accomplish your needs at hand? What can you expect from it based on what other customers are saying about it? Welcome to yet another review about a platform that’s still new in its industry. By the time we are getting to the end of this review, we shall have established a lot about it, most of which will be covered under the following pointers:
- What is Bitclude?
- Which cryptocurrencies and fiat currencies are supported by Bitclude?
- Fees charged
- The deposit and withdrawal options
- Is Bitclude Legit or is it a Scam?
- Pros and Cons
Name of the Platform: Bitclude
Official website URL: https://bitclude.com/
Overall Rating: (3.7 / 5)
Recommended: No (not many customer reviews to ascertain its effectiveness yet)
What is Bitclude?
Bitclude exists as a cryptocurrency exchange that’s based in Poland. This platform was created in 2019 and has been active since then, serving customers in different parts of the world. The main cryptocurrencies that the owners of this platform seek to avail to customers are Bitcoin and Litecoin, though there are other fiat currencies to be exchanged.
Bitclude is only available in Polish (but Google Translate can help you view a version in your language). If anything, this makes it one that’s best suited for Polish-speaking users. Anyone who isn’t a Polish-speaking user may have a hard time navigating the site, and may as such end up wanting to utilize other alternatives in the industry.
Bitclude currently has a Financial License, called the Small Payment Institution License. The license is usually given by the Polish National Supervisor. Knowing this adds a later of security to the platform since regulated companies usually have to fulfill many requirements that are stipulated by the relevant authorities in their country.
Which cryptocurrencies and fiat currencies are supported by Bitclude?
As of now, Bitclude supports both fiat currencies and cryptocurrencies. The two main cryptocurrencies, as already stated are Bitcoin and Litecoin. You can also use the following fiat currencies to achieve various objectives on Bitclude:
Platforms such as Bitclude usually update their currency offerings from time to time, hence you should check in with them to see whether they have started offering your currency of interest.
Countries this platform is available in
We are aware of the fact that Bitclude is used in 25 nations in the world, but due to not having a clear terms and conditions section, we can’t tell exactly which countries these are. It could be that the owners of the company are still taking this slowly with the establishment of a global footprint, though this is simply my own opinion (pure speculation). Most other platforms clarify which countries they are available in, and the ones they have been restricted from delivering services in.
What about U.S investors? Is Bitclude supported in their country? Unfortunately, Bitclude does not meet the SEC requirements for operation within the USA and is as such not available for use within the USA.
Many other platforms in this industry follow a maker-taker fee structure approach. Takers are those who “take” existing orders from a platform’s order book. Makers are those who add orders to the platform’s order book, hence offering liquidity.
Bitclude’s taker fees are 0.30%, which are way above the global industry averages. As we have already seen with other platforms in the reviews completed here on Gold Retired, most taker fees lie between 0.20% and 0.25%. Some platforms have actually taken things to a new low, by offering takes fees of anything between 0.10% and 0.15%.
This platform doesn’t charge any maker fees, which goes a long way into promoting liquidity on this platform. Those who want to minimize their overall expenses as they maximize their profits can as such try out this company, upon confirming that it’s reliable and efficient.
The deposit and withdrawal options
Upon accessing Bitclude, you’ll want to know whether the deposit and withdrawal methods it allows are suitable for you. Doing this will also help you determine the most appropriate method to use, based on the payment processor fees charged. On Bitclude, you can deposit your funds using:
- Standard deposit
The options available for those who’d like to withdraw their funds from this platform include:
Is Bitclude Legit or is it a Scam?
Bitclude is, in my own opinion, a genuine platform. It’s only been around for roughly two years, at the time of writing this review. This could be the main reason behind the lack of many customer reviews about it. When trying to establish what its customers have been saying about it, I only came across reviews on Facebook.
Even on Facebook, where Bitclude has a rating of (3.7/5) stars, the reviews are not very clear and definite, hence it’s hard to make anything of this platform. In such a case, I usually choose to adopt a wait-and-see attitude, just to ensure that I don’t end up getting frustrated. If you’re like me, you can check out the recommended alternative below, as we wait to see what will be said of this platform in the next few years to determine if it’s worth utilizing.
Pros and Cons
- Several fiat currencies also accepted
- Several deposit and withdrawal options
- Not accepted/supported in the U.S.
- Higher than industry average taker fees.
- Still new in the industry – few customer reviews available about it.
- Only BTC and LTC are supported
Do you own or represent Bitclude?
If you are a representative or associate of Bitclude have found something not to be correct in this review please, feel free to tell us and I will make sure to update the info on this post. The easiest way to do it is in the comment section below or simply by sending us an e-mail to email@example.com.
Final Words and Verdict
Overall Rating: (3.7 / 5)
My general perception of Bitclude is that it’s a platform that’s out to make it possible for customers to have an easy time as they exchange their fiat currencies and cryptocurrencies (BTC <C). Whereas it’s still new to this industry and is still picking its pace, Bitclude still has a long way to go. If you intend to utilize its exchange services, I’d recommend that you wait it out for a while, as you rely on an alternative’s services, just to ensure that you don’t get frustrated for getting started without enough knowledge about how customers are treated. Check out my number one recommended alternative to Bitclude to see if it’s a suitable fit.
That will be all for today’s review on what Bitclude is about and what it has to offer. Let me know if you enjoyed it, and found it helpful, by you leaving a comment in the comments section. If you have any other questions about it, kindly let me know about them as well- leave them in the comments section so that I can respond to them ASAP.
I wish you success,
Eric, investor, and team member on Gold Retired!