Bitrue Enhances Security After $23M Hack, Offers 20% Fee Discount

Bitrue, a centralized cryptocurrency exchange, has been a notable player in the crypto market since its establishment in 2018. The platform is renowned for its extensive selection of cryptocurrencies and diverse trading products, catering to both novice and experienced traders. One of its standout features is Power Piggy, an investment tool that allows traders to earn daily interest on their cryptocurrencies without any lockup period. This feature, along with the platform's user-friendly interface and advanced charting tools, makes Bitrue a popular choice for many investors.

Bitrue offers a range of services, including spot trading, derivatives trading, and exchange-traded funds. The platform supports over 700 cryptocurrencies, providing users with a wide array of trading options. In addition to its trading services, Bitrue also offers a staking product, a crypto lending platform, and a DeFi platform. The exchange is headquartered in Singapore and has offices across Europe and Asia. However, it is important to note that Bitrue is not available in certain regions, including the United States, due to regulatory restrictions.

Despite its popularity, Bitrue has faced security challenges in the past. In June 2019, a hacker exploited a vulnerability in the platform, resulting in the loss of about $4.2 million. More recently, in April 2023, an attacker stole $23 million from one of the exchange's digital wallets. However, Bitrue has taken significant steps to enhance its security measures, implementing features such as multisig cold wallets, two-factor authentication, IP whitelisting, and an insurance fund to protect users' assets.

Bitrue's fee structure is competitive, with spot trading fees starting at 0.098% for most cryptocurrencies. Traders who pay their fees using Bitrue's native token, BTR, receive a 20% discount on trading fees. The platform also offers a 3-level VIP program that provides additional discounts on transaction fees for high-volume traders. Deposit and withdrawal fees vary depending on the cryptocurrency and network activity.

Creating an account on Bitrue is a straightforward process. Users need to visit the official website, register a new account, set a strong password, and complete the mandatory KYC verification process. Once verified, users can deposit cryptocurrency or fiat money into their accounts and start trading. Bitrue provides multiple trading options, including spot trading and futures trading, and offers advanced charting tools for technical analysis.

In conclusion, Bitrue is a legitimate and safe platform for trading cryptocurrencies, despite its past security breaches. The exchange's robust security features, competitive fees, and user-friendly interface make it a popular choice for many traders. However, users should be aware of the platform's past security incidents and conduct their own due diligence before trading on Bitrue.