Bit-Z Review

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About Bit-Z

In this Bit-Z exchange review we will explore more about this crypto exchange that is one of the worlds biggest exchanges when it comes to trading volume and amount of supported coins, this after Binance.

Bit-Z founded in 2016 in Hong Kong. Bit-Z has established branches in 10 countries and regions including Singapore, Japan and South Korea. Tokeninsight, the professional assessment agency, ranks Bit-Z as the fourth in the world. Bit-Z team includes top talent from the international digital currency industry, as well as diversified professionals in various fields such as finance, social networking, games, and electric commerce. Bit-Z is committed to providing the most efficient and secure service.

Bit-Z also provides a lot industry reports, videos and chats, and more through their Media Research Institute.

In 2018, Bit-Z began its global strategic layout and has expanded to ten countries and regions around the world; At present, 70% of the Bit-Z traders are distributed overseas, mainly in Japan, Singapore, South Korea, France, Australia, and the United States.

Bit-Z has positioned itself as a very interesting player in the crypto exchange world. Providing both a traditional crypto exchange and OTC trading.

Bit-Z has been around since 2016 and they today have branches in 10 different countries. So far they have been able to provide a secure trading environment. With no major security breaches or hacks. Their trading platform can handle transactions up to 50,000 per second. Allowing them to meet the user’s need for fast deposits and withdrawals. In this Bit-Z exchange review we review further how to get started, fees, withdrawals and deposits and the security.

Bit-Z exchange

How to get started (registering)

Here’s how you get started with Bit-Z easily

  1. Go to Bit-Z’s exchange website using this link HERE
  2. Click on Sign Up and enter your details
  3. You get an email sent to you that you need to verify by clicking on the link
  4. And you’re in – you need to verify certain personal details to get full access to the platform (there are three tiers)

Bit-Z fees

Bit-Z trading fees

Bit-Z like many others offers a tiered fee schedule (VIP levels). It starts from VIP1 at a 0.2% maker fee and 0.2% taker fee.

Which is a bit higher than the industry standards. And then it goes down to 0.01% and 0.024% at the lowest end and for the highest VIP level.

The VIP levels are based on your trading volume for the past 30 days.

Supported cryptocurrencies

Bit-Z being one of the major exchanges in the world they obviously supports a big range of coins, definitely the major ones and a good few interesting altcoins.

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Litecoin (LTC)
  • Zcash (ZEC)
  • GXShares (GXS)
  • Tether (USDT)
  • DKK Token (DKKT)
  • Factom (FCT)
  • Lisk (LSK)
  • HShare Coin (HSR)
  • TenX (PAY)
  • Primecoin (XPM)
  • Dogecoin (DOGE)
  • Ethereum Classic (ETC)
  • MazaCoin (MZC)
  • BlackCoin (BLK)
  • Nuls (NULS)
  • EOS (EOS)
  • OmiseGO (OMG)
  • Peercoin (PPC)
  • Voise (VOISE)

And many more

Trading strategies during a bear market chart reading

Withdrawals & deposits

In this section of our Bit-Z exchange review we will walk you through the steps you need to take to withdraw and deposit cryptocurrency funds to and from the Bit-Z exchange to make it super clear.

How to deposit

  1. Go to Bit-Z’s website https://u.bit-z.com
  2. Select ‘Exchange account’ or ‘OTC account’ we will guide you through Exchange account only
  3. Now you’ll see a long list of cryptocurrencies available to deposit on Bit-Z – select the currency you want to deposit – for example Bitcoin and click on Deposit button
  4. You get some tips like that you should only deposit Bitcoin if it’s to the Bitcoin address, the same goes for all cryptocurrencies – this is very important (for all transactions – everywhere on the blockchain)
  5. Click on view button as you have understood the notice about sending correct cryptocurrency to the address
  6. Copy the address that is shown
  7. Go back to the wallet where your Bitcoin is and send to that address you just copied

For OTC you can deposit via the following methods

Bank account, WeChat, AliPay, Paypal, Moneygram, Neteller, Western Union

For non-OTC you can only deposit the supported cryptocurrencies (to check exactly which those are go to https://u.bit-z.com

How to withdraw

  1. Go to Bit-Z’s website https://u.bit-z.com
  2. Select ‘Exchange account’ or ‘OTC account’ we will guide you through Exchange account only
  3. Now you’ll see a long list of cryptocurrencies available to deposit on Bit-Z – select the currency you want to withdraw
  4. You need to activate 2FA and set a trade password first before you can withdraw funds
  5. After you have done this – select the cryptocurrency you want to withdraw by pressing the withdraw button
  6. Select the amount and paste in the recipient address you want to send your for example Bitcoins to
  7. Wait for confirmation and balance in the recipient address to show your money

Via OTC you can sell your cryptocurrencies (supported at the OTC) and get the money to your bank account. For the non-OTC trading you can only sell and buy for other cryptocurrencies and not Fiat.

That means that you can withdraw cryptocurrencies like at any other wallet, send the crypto from your Bit-Z wallet to the wanted recipient wallet by adding that address.

Bit-Z cryptocurrency exchange website

Security

After doing our research on using Bit-Z and then additional investigation for this Bit-Z exchange review we feel that it matches the top crypto exchanges on our list due to it’s work on creating a secure market place for its users. It has one of the largest trading volumes in the world, and so far managed to fair well without any major hiccups. Which of course bodes well for the Hong Kong based crypto exchange. Lets have a look at their security features in place to protect you and your cryptocurrencies.

Go CryptoWise’s security tips for everyone to read and know!

  • Use 2F-Authentication – for example Google 2F-A
  • Do not share your login details with anyone
  • Do never share your private keys with anyone
  • Create and store your backup passphrase for your 2F-A
  • Check the URL twice, hacks and phishing scams happens often
  • You need to be in control of your own crypto
    You can’t completely trust that an exchange will always protect your cryptocurrencies. This is an extremely important crypto tips to be aware of. Remember it’s you that are in control of your own crypto, not the exchange, not a bank, or a government. Therefore you need to make sure that you also are storing your crypto somewhere safe. A hardware wallet is the way to to go, find a good wallet for you in our wallet comparisons.

Check out our guide on best crypto tips here.

  • Bit-Z | Z网

    Security Infrastructure

    Bit-Z has multi-layer, multi-cluster system architecture and bank-level SSL secure links

  • Bit-Z | Z网

    Security Control

    Strategic cooperation with Knownsec, the international top risk control team

  • Bit-Z | Z网

    High Speed Engine

    Can carry transactions up to 50,000 per second

  • Bit-Z | Z网

    Asset Protection

    2F-Authentication, Google authentication; cold wallet; multi-signature Hedging funds

We recommend that you keep your Bitcoins, or other cryptocurrencies on a hardware wallet. You can find a good option at our comparisons here.

We have put together this guide to help you keep yourself safe and avoid some of the common risks in the crypto space – find the guide on the 6 best tips to protect you crypto

Bit-Z pros

  • Fairly easy to use exchange
  • Lots of trading options, spot trading, OTC, margin trading and contracts
  • Good range of cryptos available
  • Proven to be very secure exchange
  • Low trading fees for VIP users (0.01% maker fee 0.03% taker fee)

Bit-Z cons

  • Like with many other issues with fake trade volumes
  • Going by reports, not optimal customer support
  • Low trading volume
  • Not as reputable as others
  • Not the best trading fees for the lowest VIP group (0.2% maker fee 0.2% taker fee)

Restrictions

Germany or people from the United States are not allowed on the Bit-Z exchange due to legal limitations.

7.9 Total Score
Bit-Z

Bit-Z

Usability
8.1
Cryptos available
8.3
Security
7.5
Support
7.5
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