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Bitrue runs on Ripple


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Bitrue has made XRP a base currency early on, having as many as 78 XRP based pairs towards the end of 2019 (currently 50). This strategy brought the XRP community to the exchange and attracted additional volume. This has led to a steady increase of XRP volume being traded on its platform, currently sitting at 11.39% at the time of writing.

So according to the strategy of diminishing 28 XRP based pairs, bringing the community to the exchange thus leading to a steady increase of XRP trade volume on the platform? Am I reading this correct? Which pairs caused the community to stay away?

Edited by Trisky
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Posted (edited)
2 hours ago, Trisky said:

So according to the strategy of diminishing 28 XRP based pairs, bringing the community to the exchange thus leading to a steady increase of XRP trade volume on the platform? Am I reading this correct? Which pairs caused the community to stay away?

You are misreading it. The fact that they have XRP as a base and a lot of trading pairs is what brought the community to the exchange. Not the removal of pairs.

Edited by LeonidasH
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10 minutes ago, LeonidasH said:

You are misreading it. The fact that they have XRP as a base and a lot of trading pairs is what bought the community to the exchange. Not the removal of pairs.

I was making a little fun sorry about that :P

Then again interesting to see pairs are vanishing as well as coming. Wouldn't have expected a drop of 28 pairs, seems a lot.

 

 

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1 minute ago, Trisky said:

I was making a little fun sorry about that :P

Then again interesting to see pairs are vanishing as well as coming. Wouldn't have expected a drop of 28 pairs, seems a lot.

 

 

It's not usually due to XRP liquidity. It's due to an irrelevant coin being the other side of the pairing. There are a bunch of coins that pay to get listed on exchanges that ultimately don't gain any community traction and it's more costly for the exchange to keep the pairing than they're making in overall volume of fees from transactions. It's commonplace.

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11 hours ago, JASCoder said:

One thing about Bitrue I like, is they accept US based customers, unlike so many that don't (bitmex, Bitso, etc).

Our laws and enforcement practices make it very onerous, time consuming, and complex to provide services for US citizens.  

haha the common saying "US is lagging behind while asia is moving forward with crypto/blockchain"

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  • 2 months later...

Just tried out Bitrue for the first time. 

Absolutely horrible exchange, worst experience I've ever had. No response from support after 12 hours. KYC will take up to 3 days (others do it in ~1 day now, all automated or subcontracted) but not sure I completely trust them with my info anyway (let's hope they totally delete stored data upon account closure and don't sell it on or leave it for hackers to scoop up).

XRP deposits are fine (surprise, surprise, they want your money in!) but withdrawals will be frozen until verified, for anywhere between hours and... days. "You can check out any time you like, but you can never leeeeeave..." Tried once this morning and nothing happened. Then they rejected the second attempt with no explanation given! That's right, they do not let you withdraw XRP, on a  whim. No reasons given. Hmmm! 

So don't expect to be able to move in and out with liquidity and take advantage of price movements in XRP/XXX markets. UX is full of unnecessarily complicated features as well and the whole experience has put me off forever. Glad I didn't deposit a lot of funds. I won't be doing so now.  

They focus on XRP yet everything is opposite to the fast XRP experience on other apps/exchanges. Bitrue is slow, clunky, frustrating, and has lots of pointless hoops. "Runs of Ripple" my a$$! 

If it's based in China (and I don't know if it is, but probably), then everything is by default property of the CCP. My advice: AVOID! 

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  • 4 weeks later...
10 hours ago, Scout said:

The fact that only one exchange is participating in the free spark token give-away speaks volumes. If this was a trusted coin drop, there would be a whole lot more support and for this reason I am out.

What is a trusted coin drop?

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10 hours ago, Scout said:

The fact that only one exchange is participating in the free spark token give-away speaks volumes. If this was a trusted coin drop, there would be a whole lot more support and for this reason I am out.

Enjoy not claiming your free money. No one knew about Flare a month ago. Not all exchanges have the money/manpower to just add another coin at an instant. And even if they could, wouldn't you want them to do their due diligence and research the shit out of its validity before doing so?

Brad and David have given it the thumbs up, so I trust it. Besides, I have a ledger and don't need any exchange for the drop.

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11 hours ago, Scout said:

The fact that only one exchange is participating in the free spark token give-away speaks volumes. If this was a trusted coin drop, there would be a whole lot more support and for this reason I am out.

That’s a pretty pathetic reason, considering the fact that the white paper was only released on the 10th of August.

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2 hours ago, Gambaard said:

Enjoy not claiming your free money. No one knew about Flare a month ago. Not all exchanges have the money/manpower to just add another coin at an instant. And even if they could, wouldn't you want them to do their due diligence and research the shit out of its validity before doing so?

Brad and David have given it the thumbs up, so I trust it. Besides, I have a ledger and don't need any exchange for the drop.

Not sure if we should tell him that there is little to no risk to collect free money. Should we try to encourage new spark users or just let him opt out so his coins get burned and the supply is reduced. :lol:

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