When it comes to finding the right Bitcoin exchange, there are plenty of platforms to choose from. However, every Bitcoin exchange platform offers something different, in an attempt to attract as many users as possible. BTC-E is one of the longest running Bitcoin exchange platforms available today, so let’s take a look at what they have to offer!
Similar to most other exchanges in the world, BTC-E offers its users various trading pairs to choose from. One of the more interesting options is the Ruble exchange market, where users an exchange RUR against Bitcoin, Litecoin, US Dollar, and EUR. Although the exchange also supported Novacoin, Namecoin, and Peercoin, none of these currencies can be traded against RUR directly.
It has to be said, though, how the BTC-E platform looks rather clunky at first glance. The layout is not exactly inspiring, but it does its job fairly well. Moreover, the exchange supports three main languages, as English, Russian, and Chinese are all supported. This should help attract a more international clientele, as not everyone is fluent in English these days.
On the right-hand side of the webpage, users will see the chat box. Given the number of user son the BTC-E platform, there will always be someone to talk to, although users need to register for an account to do so. Below the chat box is a box displaying the latest tweets, as well as links for contacting support if needed.
Once users have signed up for an account, they can start trading immediately. Depositing fiat currency can be done in a variety of ways, such as OKPay, MoneyPolo, and SEPA. Depending on which currency is being used, other online payment processors will be supported as well, such as Perfect Money. As one would come to expect, PayPal is not compatible, for obvious reasons.
Bitcoin exchanges are complying with KYC and AML regulations all over the world, which means BTC-E users need to verify their identity by submitting the necessary documents. While it is possible to deposit funds before checking an account, the exchange will “hold” the money until one’s identity has been established. All trades are subject to a 0.2% in fees, and the USD/RUR pair is subject to a 0.5% fee.
On the topic of account security, it is possible for users to add an additional layer of protection to their BTC-E credentials. Google Authenticator access can be set up on all major operating systems. For the time being, there does not seem to be an indication on whether or not the company will add more 2FA features to their platform.
What makes BTC-E rather unique in the world of Bitcoin exchanges is how users can generate a coupon based on their account balance. Every coupon code is denominated in USD value, and can be redeemed instantly through the account menu. In most cases, the funds associated with the BTC-E coupon will clear immediately.
All in all, the BTC-E exchange platform is well worth checking out, as there does not seem to be anything wrong with the company on the surface. The support for RUR is kind of interesting, although some people might prefer GBP support instead. For novice users, this seems to be an exchange well worth giving a try.