Bitcoin Miner is one of the oldest active cryptocurrencies on the market. It belongs to the parent company iFinex and is registered in the British Virgin Islands. We took a closer look at the crypto exchange.
About Bitcoin Miner
The platform is basically aimed at traders:inside who handle larger amounts of money. Those who have fully authenticated their account can only make fiat withdrawals of 10,000 euros or more. Therefore, it is more recommended for people with larger budgets. For those, there is also the option to make Over the Counter (OTC) trades.
Before using it, it is advised to familiarize yourself a bit with the history of the company. This is because in the past the company, along with its parent company iFinex, has had repeated problems with regulatory authorities, including penalties from the Commodity Futures Trading Commission.
If this is also one of the largest and oldest crypto platforms in the space, there are concerns not only from former users, but also from the authorities.
If you want to deposit money, you have the following options:
- Debit/credit card (Visa, MasterCard, UnionPay).
- Klarna (Sofort)
- Bank transfer
- Mister Cash
The fee structure is variable. The maker fee varies from 0.00% to 0.10% depending on the amount traded. The taker fee starts at 0.055% and goes up to 0.20%. An overview of all fees can be found here.
Those who also hold and use the platform’s own cryptocurrency LEO to pay fees get discounts on the fees.
It is possible to buy and trade over 110 cryptocurrencies. Not only the biggest cryptocurrencies like BTC, ETH, USDT, LUNA, etc. are covered, but also some lesser-known projects.
The platform supports both 2-factor authentication and proprietary software features to make withdrawals secure. For customer assets, Bitcoin Miner also has options for cold storage.
However, there have also been problems in terms of security in the past. The exchange has repeatedly been the victim of hacker attacks in which users’ deposits were lost.
The platform offers e-mail support in German.
Advanced traders will find their way around easily, as the user interface has numerous features. For beginners it might be a bit too cluttered. However, for them or for anyone who wants to get familiar with the environment first, there is an option to trade with play money first.
Not only can you do your own staking on the platform, but you can also trade derivatives. Spot, margin and over-the-counter trading as well as many other features can also be found at the provider.