BTCSquare Crypto Exchange - Volume, Market Prices & Listings, Trading Pairs | Nomics
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Quote Currency:

USD
Transparency Rating
Total Volume
$1,720
Volume Change
-$4.8100
(-0.28%)
Markets
Fiat CurrenciesNone

What is BTCSquare? A BTCSquare Review from Nomics

Transparency Rating
Total Volume
$1,720
Volume Change
-$4.8100
(-0.28%)
Markets
Fiat CurrenciesNone

BTCsquare is one of the cryptocurrency exchanges that are very hard to obtain some information about. Its website is very limited, and the Terms and Conditions don’t offer any meaningful details regarding the founders, the date of establishment, the operating company, or its address. The business doesn’t have a LinkedIn page either, which makes it very hard to track down some of its team members.

The only information regarding the date of foundation can be found on BTCsquare’s Twitter page, according to which, the platform was founded in March 2018. Further research points out that the domain (https://www.btcsquare.net/) was registered in March 2018, which can serve as a confirmation for the date when the platform started operating.

Third-party reviews also struggle to provide any details about the business or its history. However, judging by the brief exchange description on its website, we can assume that BTCsquare is a centralized cryptocurrency trading venue. It is limited to the most traded cryptocurrencies, such as Bitcoin, Litecoin, Ethereum, Monero, as well as some altcoins like Verge, Namecoin, Peercoin, and others. It doesn’t support fiat, and all instruments are traded versus Bitcoin.

The platform also offers a referral program. Its landing page urges investors to take advantage of 50% trade commissions, debited directly to the user’s account in BTC.

The FAQ section of BTCsquare’s website features the common questions regarding what is the service, how to use it, how to deposit funds, how to trade, and others. However, it doesn’t answer directly and avoids providing meaningful information about the company behind the project or its history.

Regarding security, the exchange’s website states that it employs two-factor authentication. It also allows for SMS verification when a withdrawal is initiated. However, it is worth noting that BTCsquare states something very concerning regarding fund withdrawals. On the question of how quickly can the user have his funds transferred to his wallet, the exchange’s answer is very unclear, stating that “it differs on each cryptocurrency.” It continues to say that when a withdrawal is confirmed, it is “immediately send to blockchain.”

The FAQ section leads us to another red flag. On the topic of whether it is safe to use the platform, BTCsquare answers with a paragraph, which can be found within the FAQ sections of many other exchanges, such as Blockfills, CRONEX, Bitstamp, and a few others.

However, this isn’t the only issue with copied information. BTCsquare’s “Terms and Conditions” are identical to those of the YoBit exchange – a Russian cryptocurrency platform, known for being a part of “pump-and-dump” schemes and fraudulent financial activities. This is one of the reasons why there are several threads on Bitcointalk that claim there is a link between both exchanges and that users should avoid them at all costs.

Another very bothering fact is BTCsquare’s complete lack of social presence. The only supported social media channel is Twitter, where, at the time of this writing, the exchange’s profile has just 50 followers and 15 tweets. This could have been reasonable if the platform offered a fully-functional support service. However, although BTCsquare states that they provide 24/7 assistance, the only way to get in touch with their representatives is through a ticket system.

BTCsquare’s online reputation is one of the worst in the industry. Although the exchange does its best to stay away from public opinions and social media, there are several threads on Bitcointalk that describe the platform as a scam scheme. Their accusations are based on problems such as deleted accounts, vanishing deposits, missing funds, lack of adequate customer support, and as we have already mentioned – the ties with YoBit.

At the time of this writing, there are no reported cases of hacker attacks, security breaches or governmental investigations, part of BTCsquare’s history.

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BTCSquare Market Highlights

BTCSquare is a cryptoasset exchange located in . Their volume over the last 24 hours is $1,720. The exchange is rated "D" which means "Poor." They are a crypto-only exchange.

BTCSquare Information