Among hundreds of cryptocurrency exchanges out there, Bitrue is unique in a way that the exchange is more focused on a single cryptocurrency - Ripple, also known as XRP. Launched in 2018, Bitrue quickly received a warm welcome from the Ripple community that also become the main driving force to the site. They are build by a group of crypto enthusiasts who want to make a secure, fast, and convenient cryptocurrency trading platform. Even though Ripple-focused, the exchange also lists many other crypto coins and tokens. This is aligned with their mission to become the best crypto aggregator in the whole world. For crypto users that mainly use Ripple for daily transactions and trading, Bitrue can be considered the best exchange they can get due to its support for Ripple and deep liquidity. The company's current CEO is Curis Wang.
The company had been hacked in June 2019. In the hack, they lost around 9.3 million Ripple and 2.5 million cardano from their hot wallets. The total value of the lost assets was around $4.7 million at the time of the hacking. The company quickly responded, and the funds recovered with help from several other exchanges that the hackers used to transfer the stolen funds.
The main site has a clean design, responsive, and is fast to load. There are several languages that users can pick - Chinese, English, Korean, and Japanese. A year after its launch, the company introduced Bitrue Token, which is the native crypto token of Bitrue platform. The Bitrue token has many similar characteristics with Binance Coin, and it's possible that the token is modeled based on it. They currently support numerous coins like ADA, BAT, BCH, BNB, BTC, DASH, EOS, ETC, ETH, LUNA, NEO, TRX, USDT, XLM, XRP, and more.
The trading interface here is looking polished, with all the needed trading tools and features ready to use. The company has developed official mobile trading app to accommodate traders who want to keep in touch with the latest market trend no matter where they go and to be able to trade more anywhere, anytime. The app runs on both Android and iOS. The fee is structured based on trading pairs with XRP/BTC, XPR/USDT, and XRP/ETH pairings set at 0.2% fee, while other BTC, ETH & USDT pairings set at 0.098％. Users who own BTR can enjoy up to 30% trading fee discount for all trade pairings. Meanwhile, withdrawal fees are adjusted according to blockchain conditions.