BITRUSH Review- Full Analysis

/BITRUSH Review- Full Analysis

BITRUSH Review- Full Analysis 2018-02-14T10:40:52+00:00

Review for BITRUSH

Let’s face it, as more and more cryptocurrencies find their way into the crypto market, the number of crypto exchanges will continue to rise. This, of course, is not a problem. The issue is finding an exchange that is not just ideal for you, but one that is known for having a good reputation in terms of services and security.

But let’s say you are looking for an exchange that can help you make money without you having to do the hard work. The first thing that would come to one’s mind is the amount of profit you can make through the exchange. Bitrush is one of those trading exchanges that promises its investors high returns.  In this review, we will answer the question that may concern you, “Can I trust Bitrush?”

BITRUSH review

Bitrush (Bitrush.nl) is a registered Bitcoin exchange that buys and sells digital currencies. There is no direct selling and buying between buyers and vendors. Bitrush is located in Amsterdam, the Netherlands. Bitrush began operating in 2014.

Supported countries

Bitrush offers its services in the Netherlands, Germany, and Belgium. There is also a likelihood that it has spread its wings and welcomed EU clients.

Bitrush Limitations

Bitrush has set volume limits and they are as follows:

  • iDeal and MyBank payments – € 10,000 limit per purchase order.
  • Bancontact payments – € 2,500 limit per purchase order.
  • Credit card payments – € 500 per week.

Buy/Sell information

Bitrush allows you to make payments via iDEAL, MyBank (Germany), Bancontact (Belgium) and credit card. You may choose to pay in digital currency or fiat currency (EUR).

For clients outside the EU, it’s easier to make payments via MasterCard or VISA credit card. As for Dutch nationals, it’s more convenient for them to use the supported payment platforms to fund their accounts.

  • Buying methods

To purchase coins on Bitrush, click on “Buy” and enter the following details:

  • Amount you wish to purchase in BTC or EUR
  • Payment method.
  • Deposit address.

If you have a coupon, you can click on “Use coupon” to enter the coupon code.

Once you have entered all the details, click to show that you agree with the terms and conditions and then click on the “Buy Bitcoin” button. In a few minutes, you’ll receive your purchased coins at your address.

A few things to note:

  1. If you enter the wrong address, Bitrush is not responsible for recovering your coins if they get sent to that address.
  2. Purchased cryptocoins cannot be exchanged or swapped.
  3. When you purchase cryptocurrency for the first time on Bitrush, verification of your account number, email address, and phone number will be required.
  • Selling methods

To sell your coins, click on “Sell” and enter the following details:

  • Amount (in EUR or BTC)
  • Return address
  • IBAN account name
  • Account holder
  • Email address

Then click on the “Sell Bitcoin” button. You will receive a confirmation of your transaction in your email. Bitrush will then provide you with an address to which you can send your coins.

Available cryptocurrencies

Cryptocurrencies available on Bitrush include Bitcoin, Litecoin, Ethereum, Bitcoin Cash, and Dash. The only fiat currency accepted is the Euro.

Verification factors

ID verification is required to purchase cryptocoins on Bitrush if the user is transacting via credit card. Personal information you will be required to disclose for verification purposes includes:

  • Your email address
  • Telephone number
  • Bank account number

You may be asked to send a copy of your ID and other identification documents for verification if Bitrush deems it necessary.

If you are paying via bank transfer (iDeal, MyBank or Bancontact) ID verification is not required if you’re purchase is less than €2,500. Only a verification code is needed, which is sent to your mobile phone. However, for larger transactions, ID verification is required.

Bitrush Fees

Bitrush lists its exchange rates on its website. Fees are charged based on the payment method and they are as follows:

  • iDEAL: €37
  • Bancontact: €22 + 1.40%
  • MyBank: €22 + 1.52%
  • Credit Cards (MasterCard and VISA): €31 + 6.27%

Bitrush Special features

  • Affiliate program

The affiliate program pays a 0.5% commission of the order amount. Commissions are paid monthly once the amount reaches 50 EUR or more. Payments are paid in any of the crypto coins offered by Bitrush.

  • Cooling-down period

Your coins are held for a period of 2-working days once the purchase limit has been reached. The next period starts after the 2-work day period has expired.

The cooling-down period is a security measure that enables the payment provider to spot and report any fraudulent activity to Bitrush.

Is BITRUSH safe?

Is Bitrush legit? Coincidentally, there are existing companies that have a similar name. There is a company called Bitrush.co which is a Bitcoin payment platform. There is another called Bitrush.org, which was discovered to be a Ponzi scheme in 2017. It is important to note that this review is about Bitrush.nl, which is a registered Dutch exchange.

  • Security

Bitrush has an SSL certificate and it complies with the Personal Data Protection Act. It has also taken measures to avoid fraud by implementing a feature known as the cooling-down period. Furthermore, all account users must be verified before they can make their very first purchase.

  • Costumer support

Bitrush has a reliable customer support that is available from Monday to Friday, 10 am to 5.30 pm. You can reach them via email or phone.

  • Handling speed

Transactions on Bitrush are pretty fast. Unless there is an issue with the network, coins are delivered almost instantly.

How to use BitRush?

To use Bitrush, you need to

  • Register an account then verify your email.
  • Afterwards, you need to go to the Bitrush login page, enter your email and password to access your account.
  • From your account, you can add funds, sell or buy cryptocurrencies.

Review Summary

Pros

  • Simple and easy to use interface
  • Fast delivery of cryptocoins

Cons

  • Not anonymous
  • ID verification
  • No e-wallet
  • 24/7 customer support not available

Like many other cryptocurrency exchanges, Bitrush has its fair share of challenges. While it does facilitate safe and secure buying and selling of cryptos, it does not offer its own web wallet or other services for the matter. The other issue is the verification problem. Users who prefer to remain anonymous are likely not to use Bitrush.

What we like about the exchange is its lightning speed delivery of coins. This is always a key factor when users are looking for a good and reliable exchange.

Thank you for reading this Bitrush review. If you want to learn more about crypto trading and exchanges, check our site.