Bter Exchange Review

Bter is crypto currency exchange used for buying, selling and trading Bitcoin and a range of other digital currencies, or 'alt coins'. The company behind Bter is based in China, and Chinese traders remain the largest market for the exchange, however there is an English language version of the site and users can buy and sell both coins for United States dollars as well as Chinese Yuan. Bter now ranks amongst the most popular global exchanges and is used by traders all around the world.

Although I do not have any figures for the number of users or average volume, the trading volume of this exchange for the 24 hours prior to my writing this article was 612 Bitcoin or $271595 USD, which at least provides the reader with a rough snapshot.

Bter Markets

In this section I will list all of the currencies currently traded on Bter. These lists are subject to change and may already be out of date by the time you read this article.

BTC Markets

The following alt coins can be bought with and sold for Bitcoin:

  1. AsiaCoin (AC)
  2. Auroracoin (AUR)
  3. Blackcoin (BC)
  4. BBQcoin (BQC)
  5. Bitbar (BTB)
  6. CryptoBuck (BUK)
  7. Coin2.1 (C2)
  8. CloudCoin (CDC)
  9. Cosmoscoin (CMC)
  10. CHNcoin (CNC)
  11. CommunityCoin (COMM)
  12. DigitalCoin (DGC)
  13. Dogecoin (DOGE)
  14. DarkCoin (DRK)
  15. DataCoin (DTC)
  16. ExtremeCoin (EXC)
  17. FlutterCoin (FLT)
  18. Freicoin (FRC)
  19. FreshCoin (FRSH)
  20. Feathercoin (FTC)
  21. GameLeagueCoin (GML)
  22. KlondikeCoin (KDC)
  23. Litecoin (LTC)
  24. MaxCoin (MAX)
  25. MegaCoin (MEC)
  26. MintCoin (MINT)
  27. MemoryCoin (MMC)
  28. nas (NAS)
  29. NavajoCoin (NAV)
  30. Necoin (NEC)
  31. NFD (NFD)
  32. Namecoin (NMC)
  33. nTx (NTX)
  34. NXT (NXT)
  35. Peercoin (PPC)
  36. ParticleCoin (PRT)
  37. Bitshares Protoshares (PTS)
  38. Qora (QORA)
  39. Quark (QRK)
  40. RoxCoin (ROX)
  41. SlimCoin (SLM)
  42. SecureCoin (SRC)
  43. TagCoin (TAG)
  44. Vericoin (VRC)
  45. Vertcoin (VTC)
  46. WorldCoin (WDC)
  47. X11 Coin (XC)
  48. CounterParty (XCP)
  49. Monero (XMR)
  50. Primecoin (XPM)
  51. YaCoin (YAC)
  52. ZCCoin (ZCC)
  53. ZetaCoin (ZET)

Bitcoin can also be bought and sold for United States Dollars and Chinese Yuan, as recorded in the lists below

LTC Markets

The following digital currencies can be bought with and sold for Litecoin:

  1. Bitcoin (BTC)
  2. Pennies (CENT)
  3. Devcoin (DVC)
  4. InfiniteCoin (IFC)
  5. NetCoin (NET)
  6. RedCoin (RED)
  7. FedoraCoin (TiPS)
  8. LotteryTickets (TIX)
  9. WorldCoin (WDC)
  10. YaCoin (YAC)

Litecoin can also be bought with and sold for fiat money.

CNY Markets

The Following coins can be bought and sold directly for Chinese Yuan:

  1. Blackcoin (BC)
  2. BBQcoin (BQC)
  3. Bitbar (BTB)
  4. Bitcoin (BTC)
  5. Pennies (CENT)
  6. Cosmoscoin (CMC)
  7. CHNcoin (CNC)
  8. DigitalCoin (DGC)
  9. Dogecoin (DOGE)
  10. DarkCoin (DRK)
  11. DataCoin (DTC)
  12. Devcoin (DVC)
  13. ExtremeCoin (EXC)
  14. Freicoin (FRC)
  15. Feathercoin (FTC)
  16. InfitiniteCoin (IFC)
  17. Litecoin (LTC)
  18. MaxCoin (MAX)
  19. MegaCoin (MEC)
  20. MintCoin (MINT)
  21. MemoryCoin (MMC)
  22. NetCoin (NET)
  23. Namecoin (NMC)
  24. NXT (NXT)
  25. Peercoin (PPC)
  26. Bitshares Protoshares (PTS)
  27. Quark (QRK)
  28. RedCoin (RED)
  29. SecureCoin (SRC)
  30. TagCoin (TAG)
  31. FedoraCoin (TiPS)
  32. LotteryTickets (TIX)
  33. Vericoin (VRC)
  34. Vertcoin (VTC)
  35. WorldCoin (WDC)
  36. CounterParty (XCP)
  37. Primecoin (XPM)
  38. YaCoin (YAC)
  39. ZCCoin (ZCC)
  40. ZetaCoin (ZET)

USD Markets

The following coins can be bought and sold directly for United States Dollars:

  1. Bitcoin (BTC)
  2. Dogecoin (DOGE)
  3. DarkCoin (DRK)
  4. Litecoin (LTC)
  5. NXT (NXT)
  6. CounterParty (XCP)

IPOs and DACs

In addition to allowing its customers to trade digital currencies, Bter also runs IPO pre-launch sales for new coins. One example of this which is currently selling on the exchange is Crypti. Crypti is listed on the exchange as CRSALE, and buyers of CRSALE receive a token which will be exchanged for Crypti coins once the blockchain is launched.

Another unique feature of Bter is that they allow Bitshares PTS holders to receive their shares in new DACS launched by Bitshares. This is a feature of Bitshares PTS itself, but usually you have to have your coins in a local wallet at the time of the 'snapshot' as no other exchanges that I am aware of have made this promise to pass on shares in new blockchains generated by ownership of PTS. This recently happened for Bitshares X, which is now trading on BTER as BTSX - a token representing Bitshares X which will be exchanged for the real thing once the blockchain goes live.

Interest Payments

Bter offers daily interest payments on balances of certain coins held on the exchange. In order to get these interest payments you must log in to your account and claim them from the bonus tab each day.

Interest rates are quoted on a per annum basis and may be subject to change. For the current list of coins which are eligable for interest, along with the current interest rate, you should visit the website. But to give you an idea here is the current list at the time of writing this article:

  1. Bitcoin - 1.17% per year
  2. Litcoin - 0.26%
  3. Dogecoin - 1.15%
  4. AsiaCoin - 1.1%
  5. Auroracoin - 0.26%
  6. BlackCoin - 1.4%
  7. Coin2.1 - 1.15%
  8. CommunityCoin - 5.28%
  9. DarkCoin - 0.7%
  10. Fluttercoin - 5.72%
  11. MaxCoin - 0.28%
  12. nas - 1.61%
  13. NXT - 1.24%
  14. Peercoin - 0.29%
  15. Bitshares PTS - 0.69%
  16. Quark - 0.53%
  17. TagCoin -1.55%
  18. Vericoin - 1.6%
  19. X11Coin - 4.01%
  20. CounterParty - 0.81%
  21. ZetaCoin - 0.11%
  22. ZCCoin - 1.01%

Bter Points, Dividends and New Coin Voting

When you conduct any kind of trade on Bter you are awarded points. You are awarded points at a rate of 5000 per Bitcoin (or equivalent value of other coins) traded. This does not apply to certain markets, such as IPOs, where there are no transaction fees.

Once you have at least 1000 points you are allowed to vote for your favourite new coins from their list, which you would like to see added to the exchange. You get 1 vote per hour if you have 1000 points, and this can increase up to a maximum of 10 votes per hour depending on how many points you have. This kind of voting does not reduce your points balance, however you can also spend your points on additional votes, at a rate of 100 points per vote.

It looks as if you can also exchange your points for virtual shares, which entitle you to a proportion of the exchange's revenue to be paid in Chinese Yuan, however the page explaining this has not been translated and still appears in the Chinese language even on the English version of the site, and I do not understand Chinese so I can't provide any further details.

Transaction Fees

Transaction fees are applied to the majority of trades placed on Bter, at 0.2% of the traded volume. Some CNY markets have the transaction fees waived, and IPOs are also free from any kind of transaction fees.

Transaction fees on deposits and withdrawals reflect the cost to the exchange of processing those payments, and vary for each currency. If you have Bter points in your account, then there is also a fee applied to your points balance when you make a withdrawal.

Trading Platform

The Limit Order type is used for all trades on Bter, and there are no additional trading features.

A web interface, a desktop app, or an android app can be used to access the exchange.

Interested? You can go here to find the Bter Signup Page

Categories: E-Currency | Bitcoin | Cryptocurrency | Trading

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