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BTC Alpha Exchange Review 2020 - User and Expert Reviews

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Launched: 2016

Expert Review

Aug 23, 2019

What is BTC-Alpha

BTC-Alpha Overview

BTC Alpha Features

BTC Alpha fees

BTC-Alpha API

How To Use BTC-Alpha Exchange

Customer Service

Is BTC Alpha safe?

Conclusion


What Is BTC-Alpha?

BTC-Alpha is a virtual currency exchange that offers crypto-to-crypto and fiat-to-crypto trading services through an advanced web-based platform.

Like most exchanges, the platform isn’t regulated. It provides several services, including coin listing and a referral program, where users get to earn passive income by inviting their friends.

 

BTC-Alpha Overview

There isn’t much information that can be found online about this platform.

However, we believe it was founded sometime in 2018 shortly after the crypto market bull run as the owners sought to capitalize on the crypto craze.

As you will see with many aspects of the BTC-Alpha exchange, some technical issues exist which deny the customers the excellent services they deserve. 

The exchange is registered in the United Kingdom, but we believe it's operated in Ukraine by Russian residents.

Not much can be found about the team behind the platform; however, Vitalii Bodnar is the CEO, a Russian resident. 

The platform offers to trade against the USD and numerous cryptocurrencies.

All in all, there are around 100 coins supported on BTC-Alpha with over 200 trading pairs. 

On top of trading, the BTC-Alpha exchange offers coin listing services where one has to fill in a form.

The coin has to meet several requirements to be listed, including a link to the official website of the coin, the official git repository of the node, a reference to the Explorer unit, and many more.

BTC-Alpha exchange also has an internal token known as ALP Coin.

The token is developed using the Ethereum ecosystem and allows users to get trading fee discounts, liquidity protection, and other exclusive offers, including bonuses.



As of the time of writing this review, the BTC-Alpha has a trading volume of $23.600.041. It supports around 100 cryptocurrencies and about 200 market trading pairs.

The exchange is ranked number 88.384 in the world by Alexa based on website traffic; however, it’s the most popular website in Russia with a rank of 8.059.

Deposits on the platform can be made using cryptocurrencies and USD through AlphaCode, Perfect, and AdvCash.

 

BTC Alpha Exchange Features

The exchange boasts an advanced trading platform that has charts, order books, trade history, chatbox, and many more impressive features.

It's also very secure, and based on a test performed using Mozilla’s Observatory, it scores a B, which is above average compared to other top cryptocurrency exchanges.

 

Advantages 

  • The platform boasts a fair number of altcoins that are supplemented with an equal share of trading pairs. On the exchange, you can trade BTC, LTC, ETH, XMR, ETC, Zcash, and many more. 
  • The exchange supports fiat currencies in the form of USD, even though it’s the only one.
  • The exchange offers competitive trading fees compared to other crypto exchanges.
  • BTC-Alpha offers a trading platform that has advanced charting.
  • There are technical indicators, charts from TradingView, a neat order book, chatbox, and trading history window.

 

Disadvantages

  • The platform’s withdrawal fees are relatively high compared to other popular exchanges
  • The exchange isn’t regulated 
  • The client’s funds are stored online. We couldn’t find any evidence that the exchange stores user funds in cold storage
  • Due to adherence to BTC-Alpha KYC and AML policies, the exchange lacks anonymous trading, which is contrary to the objective of most digital currencies.
  • The exchange doesn’t support bank transfers and also doesn’t support credit cards. 
  • The platform doesn’t support margin trading. 

 

BTC-Alpha fees

When it comes to trading fees, BTC-Alpha is quite competitive compared to other platforms. The exchange charges market “takers” and “makers” a fee based on their monthly trading volume.

See the chart below, which has the full list of fees charged on the exchange.

Also, depending on the method chosen, BTC-Alpha does charge some deposit fees. The complete list of BTC-Alpha deposit fees and BTC-Alpha withdrawal fees charged can be seen in the chart below.

 

BTC-Alpha API

BTC-Alpha exchange has an open API that caters for all trading operations and broadcasts the trading events.

The WebSockets API is used to get updated information on the latest trades, including all new and canceled orders.

Users will find it reliable when trying to get the latest exchange rate and order book.

 

How To Use BTC-Alpha Exchange

  1. To get started on BTC-Alpha, visit the official website of the platform at (btc-alpha.com) and click on the “Register” icon.

  2. Enter sign up details, including your email address and a strong password.



  3. A link will be sent to your email address, which you have to click on to login. Then another login confirmation link will be sent to your inbox with a pin code you will use to enter the website.



    4. Click on the user icon at the top bar and select “enable two-factor authentication”

5. Ensure you download the google authenticator app from the Play Store and use it to scan the QR code.



6. After your account is secured, proceed to verify your account to ensure you can withdraw more than $5.000 per day.

The first level requires you to enter your personal information, including your official names, date of birth, gender, nationality, and contact number.

7. The next level in line with BTC-Alpha KYC and AML policies will require you to submit your ID, a selfie with the ID, and proof of residence.

8. Now you can deposit funds to your account. To deposit, click on the “Finance” icon, and you will be taken to a page where you can search if the currency you would like to deposit is supported. On the page, you will see other supported currencies that you can deposit in.

9. After depositing funds into your account now, you can start trading. To do this, select the exchange icon on the top bar. You will see two options, standard and advanced trading.

Customer Service

BTC-Alpha claims to offer 24/7 customer support. On the platform, there is a dedicated section where users can get answers to all the common problems they may encounter while using the exchange.

The FAQ section features deposit and withdrawal, security, and other common questions like what is two-factor authentication and how do you activate it.

You can also communicate with the support through the exchange’s telegram channel, Facebook, Twitter, and VK accounts. BTC-Alpha also allows users to leave feedback on the services they have received. This happens through filing a form available on the support page and even though the other social network accounts.

 

Is BTC Alpha safe? 

Based on our research, we found mixed opinions about the exchange. While some are full of praise for the platform, others have complained after depositing funds and failing to receive tokens they purchase. 

Other users seem to have issues withdrawing funds from the platform leading to BTC-Alpha scam allegations. Our verdict is trend carefully on this platform and maybe consider getting started with small amounts.

 

Conclusion

On the positive side, Btc-Alpha supports a decent number of virtual coins that can be traded against other digital currencies and the USD.

Its trading platform is quite fair and features detailed charts from TradingView and a chatbox where one can get help while trading from other users.

To sum up this BTC-Alpha review, there are many areas this exchange needs to improve if its to compete with the rest. For example, adding on the limited methods of deposit and withdrawal and also adding features like margin trading.

Also, customer complaints need to be addressed if this platform is to grow its user base.

 

 

Our score

Functionality 4/5
Reputation 3/5
Security 3/5
Support 4/5
Fees 3/5
Our score
3.4/5

User reviews

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Schpon 19 January, 4:30 PM
4.0

Alpha provides fast speed for the transactions. The fee is a little bit high,but it's not a big deal for me, I like big variety of the coins and I have a big opportunity to trade.

Upper Class 19 January, 10:08 AM
4.0

I got an issue once, that I had been waiting my ETH for 2 weeks. But support appoligised and solved this situation. Since then I didn't have that kind of a problem, so I can say that BTCaplha can make it up

Candy 14 January, 10:35 PM
4.0

Fiat-crypto feature works fine. The exchange provides that possibility and I didn't face the problems with that. I would note the fee, it could have been less, I suppose.

Dir Waken 13 January, 9:02 PM
4.0

I was requested to complete the verification and I did it pretty fast. I just followed the instruction what I got and I didn't face any problem with that at all. Maybe, some other users didn't follow that rules and then they're whining about it. It was easy for me and I'musing the exchange without that difficulties

Hodur 9 January, 3:02 PM
2.0

The exchange is disappeared, I got no message no notifications from them. My funds is stucked or I don't know thier status. It looks like they just took my money and i am not able to take them back

verner 6 September, 7:42 PM
5.0

What I like here is a registration. It takes literarily a couple of minutes.The BTC-aplha doesn’t demand some sort of different confirmations and many of other personal information. In addition. I found here quick withdrawal process and relatively low commissions.

Genry 6 September, 6:22 PM
4.0

I’ve been using this exchange for 3 months and I haven’t noticed any big problems. The exchange is small but it has easy-to-use interface. There is no need to search a lot to find something everything’s at hands. Also, I like the support they give the responds quite fast.