BitoPro

What is BitoPro？

BitoPro, established in 2017 in Taiwan, is a crypto exchange. With 27 cryptocurrencies listed and $15M daily trading, it charges 0.20% for takers and 0.10% for makers. Beyond the exchange, BitoPro offers additional crypto services like digital wallets, business tools, and financial audits.

Pros and cons

BitoPro excels in these areas:

• Offering the convenience of choosing from various wallet options.
• Allowing access trading through both web and mobile platforms.

BitoPro lacks these areas:

• A smaller exchange compared to others, offering a more intimate trading experience.
• Operating without regulatory oversight, BitoPro poses potential risks to traders due to its unregulated status.
• Providing a selection of 27 cryptocurrencies, which is relatively limited compared to larger platforms.
• Beginners might find BitoPro's fee structure intricate, leading to potential confusion during initial trades.
• BitoPro solely supports Taiwan Yuan for fiat currency, limiting currency options for users from other regions.

Regulation

BitoPro operates without oversight from any regulatory authority, and the absence of regulatory oversight can potentially expose traders to vulnerabilities such as fraud, market manipulation, and inadequate customer protections. Hence, people interested in using BitoPro should carefully consider the risk of trading on an unregulated platform.

Security

• Cold storage: The majority of BitoPro's cryptocurrency holdings are stored in cold storage, which means they are offline and not connected to the internet. This makes them much less vulnerable to hacking attacks.
• Multi-factor authentication (MFA): All users are required to enable MFA, which requires them to enter a code from their phone in addition to their password when logging in. This adds an extra layer of security to prevent unauthorized access to accounts.

Cryptocurrencies Available

As of August 25, 2023, BitoPro features 27 cryptocurrencies. It consistently adds 1-2 new coins per quarter.

Here are the top 10 cryptocurrencies listed on the BitoPro exchange:

• Bitcoin (BTC)
• Ethereum (ETH)
• Tether (USDT)
• Binance Coin (BNB)
• Dogecoin (DOGE)
• XRP (XRP)
• Cardano (ADA)
• Solana (SOL)
• Terra (LUNA)
• Avalanche (AVAX)

How to open an account？

To register on BitoPro, follow these steps:

1. Visit the BitoPro website and click on the “Register” button.

2. Enter your email address and choose a secure password for your account.

3. Verify your email by clicking on the verification link sent to your registered email address.

4. Complete the KYC (Know Your Customer) verification process by providing the required personal information and supporting documents.

5. Set up two-factor authentication (2FA) for added security to your account. This may involve linking your account to a mobile authenticator app, such as Google Authenticator.

6. Once your account is fully verified and secured, you can start using BitoPro to trade and manage your cryptocurrencies.

Trading Fees

Your VIP fee level at BitoPro is determined by either your trading volume in the last 30 days or your BITO holdings from the previous day. To calculate this, the system assesses the trading volume of the past 30 days at 00:00 (UTC+8) daily. This trading volume is then converted into New Taiwan Dollar (TWD) for accurate assessment. This approach ensures that your VIP fee level reflects your recent trading activity and engagement with the exchange.

When using BITO Coin, you can enjoy potential transaction fee discounts of up to 50%, outlined as follows:

• In the initial year, a 50% discount
• In the second year, a 30% discount
• In the third year, a 20% discount
• In the fourth year, a 10% discount
• In the fifth year, no discount applies

These discounts progressively reward ongoing BITO Coin usage over the years.

Deposit and Withdrawal

BitoPro offers the following supported deposit methods for users to choose from:

• Bank Wire Transfer (BitoPro accepts wire transfer deposits and no credit card deposits)
• Prepaid Card
• Cryptocurrency Wallets

Depositing funds on BitoPro is fee-free. However, for each withdrawal, a deduction of 0.0004 BTC is applied. This withdrawal fee is notably lower than the industry average, emphasizing BitoPro's dedication to user-friendly services. Other exchanges often charge around 0.0006 BTC for withdrawals, making BitoPro's fee more favorable.

Customer Support

For those who are new to the platform, navigating it for the first time is hassle-free. You'll find a FAQ section that specifically addresses the questions of newcomers. Moreover, a support center is available to assist both users and clients. This includes options like Telegram chat, live chat, and even social media giveaways as part of the support.

Is BitoPro a Good Exchange for You？

BitoPro may be a good exchange for traders in the following types:

• Traders who are reside in Taiwan.
• Traders who love to trade cryptos through mobile apps.
• Traders who prefer multiple wallet options

Compare with other exchanegs

Features
Trading Fees	0.20% for takers, 0.10% for makers	Maker: 0.04%, Taker: 0.075%	Maker: 0.05% - 0.1%, Taker: 0.1% - 0.5%	Up to 0.40% maker fee and up to 0.60% for taker fee
Cryptocurrencies	27	500+	11	200+
Regulation	Not regulated	Regulated by NMLS, MAS/FinCEN (Exceeded)	Regulated by FSA ( Japan), NMLS, CSSF, DFI, NYSDFS	Regulated by NMLS , FCA, NYSDFS, SEC (Exceeded), FINTRAC (Exceeded)

FAQs

Q: What is the purchase limit？

A: There is no limit on total purchase orders, the minimum purchase is 0.1ETH.

Q: How to purchase？

A: To prevent fraud, tokens can only be purchased through the BitoPro Exchange.

Q: How much is the deposit fee？

A: There is no fee for depositing. If you add a very small number of currencies, there will be a fee (currently not charged).

Q:What's the discount rate by using BITO to pay for trading fees？

A: Using BITO Coin may result in discounts to transaction fees of up to 50%, as detailed

below:

● The first year, 50%

● The second year, 30%

● The third year, 20%

● The fourth year, 10%

● The fifth year, none

Q: Is KYC required ？

A: Users who would like to purchase need to register BitoPro and complete Level 1 verification.