Bitrue review
Bitrue is a centralized cryptocurrency exchange launched in 2018, offering spot and futures trading across more than 700 digital assets and 1,000+ pairs, alongside staking, a flexible-earn product (Power Piggy), leveraged ETFs and copy trading. It markets itself heavily around XRP, branding as an "XRP Recommended Exchange." Bitrue is not regulated by any major financial authority, a status third-party review sites describe as consistent with most of its offshore peers, and it does not serve US customers after Bitrue USA paused operations in 2023 amid regulatory uncertainty. The exchange has suffered two disclosed hot-wallet breaches: roughly $4.2 million in 2019 and about $23 million in 2023, both followed by full user compensation.
Bitrue key facts
- Website: www.bitrue.com
- Category: Centralized cryptocurrency exchange (CEX)
- Founded: 2018
- Headquarters: Not consistently disclosed; cited as Singapore or Costa Rica-registered depending on source, with offices in Europe and Asia
- Regulatory status: Not licensed by any major financial regulator; unavailable to US customers since 2023
- Products: Spot and futures trading, leveraged ETFs, staking and Power Piggy flexible earn, Launchpool, copy trading, crypto-backed loans
- Trading fees: Spot from about 0.098% on BTC/ETH/USDT pairs (higher on XRP pairs); futures from about 0.038% maker / 0.07% taker; 20% discount when paid in BTR token
- Supported assets: 700+ cryptocurrencies across 1,000+ trading pairs
- Security history: Hot-wallet breaches in 2019 (~$4.2M) and 2023 (~$23M); both incidents ended in full compensation to affected users
- FYI Score: 76.5/100 (ranked #215 of the crypto exchanges we track)
Trading fees
- Spot fees around 0.098% on core BTC/ETH/USDT pairs, rising to roughly 0.196%-0.28% on XRP pairs
- Futures fees from about 0.038% maker and 0.07% taker on USDT-margined and coin-margined contracts
- 20% fee discount available when paying with the native BTR token
- No deposit fees; withdrawal fees vary by asset and network
Supported assets
- 700+ cryptocurrencies listed across 1,000+ trading pairs
- Heavy XRP focus, marketed as an "XRP Recommended Exchange" with dedicated XRP earn products
- Coverage extends into smaller-cap categories including XRPL ecosystem tokens, AI tokens and meme coins
Products
- Spot trading and margin/leverage trading
- USDT-margined, coin-margined (COIN-M) and USDC-margined futures, plus TradFi-linked instruments (stocks, forex, commodities)
- Leveraged ETFs marketed as liquidation-risk-free directional exposure
- Staking, Power Piggy flexible earn, Launchpool, crypto-backed loans, and copy trading
Security & regulation
- Not licensed or regulated by any major financial authority, a status shared with most direct competitors
- Blocked in the United States since Bitrue USA paused core services in 2023 amid regulatory uncertainty
- Suffered a hot-wallet hack in June 2019 (about $4.2M in XRP and ADA) and a second in April 2023 (about $23M in ETH, SHIB and other tokens), the latter affecting under 5% of total exchange funds
- Both incidents were followed by a multi-day withdrawal suspension and full compensation to affected users
Markets
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Who Bitrue is for
Bitrue suits traders who specifically want XRP pairs or its Earn/Power Piggy yield products and who accept an unregulated, offshore-style exchange with a history of hot-wallet breaches. It is not usable by US residents.
Pros
- Wide asset selection (700+ coins, 1,000+ pairs) for a mid-tier exchange
- Deep XRP-focused product set, useful for XRP-specific liquidity or yield research
- No deposit fees and a BTR token fee discount
- Both past hacks resulted in full user compensation rather than losses passed on to customers
Cons
- Not regulated by any major financial authority
- Two disclosed hot-wallet breaches (2019 and 2023) show a recurring security weakness
- Unavailable to US customers since 2023
- Headquarters location is inconsistently reported across sources, making corporate transparency hard to verify
- Independent risk scoring (TradersUnion) rates it higher-risk than average among crypto exchanges
Bitrue FAQ
Is Bitrue regulated?
No major financial regulator licenses Bitrue. Third-party reviewers describe this as typical of the exchange's offshore peer group rather than an outlier. Bitrue does not serve US customers; Bitrue USA paused its core services in 2023 citing regulatory uncertainty.
Has Bitrue been hacked?
Yes, twice. A June 2019 hot-wallet breach resulted in roughly $4.2 million stolen in XRP and ADA. A second breach in April 2023 saw about $23 million taken across ETH, SHIB and other tokens, affecting under 5% of total exchange funds. Both times Bitrue paused withdrawals for several days and compensated affected users in full.
What are Bitrue's trading fees?
Spot fees run around 0.098% on major pairs like BTC/USDT and ETH/USDT, rising to roughly 0.196%-0.28% on XRP pairs. Futures fees start near 0.038% maker and 0.07% taker. Paying fees in the native BTR token gets a 20% discount. There are no deposit fees; withdrawal fees vary by asset.
Where is Bitrue based?
This is not consistently disclosed. Some reviews describe Bitrue as Costa Rica-registered with offices across Europe and Asia; others cite a Singapore base. The company does not publish a single confirmed headquarters.
Compare Bitrue with other crypto exchanges
See all crypto exchanges ranked by FYI →
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