BitGrail Review by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about the BitGrail.com exchange in this BitGrail Review. At the end of this BitGrail Review share it please if you like it.
BitGrail is an Italian exchange that offers solely coin-to-coin trading with a focus on RaiBlocks (XRB). So, traditional currencies like USD and EUR are not accepted at the exchanger and as is the case with most similar exchanges, no there is no margin trading.
The broker uses two-factor authentication (2FA) and implements certain know-your-customer (KYC) policy. Unverified users have to comply with low trading daily limits (0.5 BTC).
BitGrail charges flat fee of 0.20% per trade which is a competitive pricing. With a. By comparison comparison, Mercatox, another exchange that offers RaiBlocks, charges 0.25%.
10 coins available
The current list of coins available at the exchanger includes: BTC, XRB, BCH, BTG, ETH, LTC, DOGE, CREA, LSK and CFT.
Nice trading platform
The exchanger’s platform is nice, when compared to some of the other crypto-exchanges. It has some basic charting, a neat order book, Latest trades window, as well as a live chat (Trollbox). The trading instruments are divided into two groups: coins traded against Bitcoin (BTC Market), and coins traded against RaiBlocks (XRB Market).
Focus on XRB
This exchange clearly focuses on trading in RaiBlocks, as XRB/BTC is the most popular trading pair at BitGrail and it constitutes more than 80% of its overall trading volume. XRB is an open source cryptocurrency that is currently in the top 50 by market cap (according to CoinMarketCap). The RaiBlocks network has no notion of fees, these coins are distributed for free by using captcha and it seems that it has a solid fan base. XRB is not listed on many exchanges, it is currently available on BitFlip and Mercatox.
Users of the broker are able to trade anonymously on the exchange, but only up to 0.5 BTC daily. If they wish to trade in larger volumes, they need to verify their identity. Keep in mind that the check by the BitGrail may require up to 24 hours.
Fiat not accepted, limited payment methods
As we have pointed out above, BitGrail does not support traditional currencies, so its users are not able to deposit directly in EUR, USD or cash out their coins in traditional currencies, using popular payment methods such as bank transfers or credit cards. This basically means that BitGrail is not that beginner-friendly.
Trading only against BTC and XRB
While this exchange offers decent amount of coins, they can’t be freely traded against one another. Altcoins are either traded against Bitcoin, or against RaiBlocks.
The exchanger does not support leveraged trading, much like most cryptocurrency exchanges. There are some, like Quoinex and bitFlyer who offer this type of service. If you’d rather trade on the price of Bitcoin, many forex brokers are offering leveraged trading on cryptocurrency CFDs. Moreover, most of them are offering higher leverage levels than crypto-exchanges.
Operated by Webcoin Solutions, based in Florence, Italy, BitGrail is a cryptocurrency exchange with competitive trading and transfer fees that appears to place a special focus on trading against XRB. It does not accept or send any form of fiat currencies, which makes them not that beginner-friendly. Besides, it puts them in the group of trading venues which are not regulated, as most countries have not developed the respective legislative frameworks yet.
Speaking of regulation, we will reiterate that dealing with cryptocurrencies carries a significant level of risk. First, these assets are much more volatile than traditional currencies, and second, many exchanges are being hacked.
BitGrail Review Conclusion
By this BitGrail Review now you know all about the exchanger, For more information about cryptocurrency trading brokers visit TopForexBrokers.com crypto brokers comparison website, Tip ForexSQ.com foreign exchange trading experts please by share this article about BitGrail Review.