Review: BTER

Bter suffered a major hack recently, losing 7170 BTC that had been in cold storage. Since then, they have reopened, claiming a temporary solution with a permanent fix on the way. They are slowly paying back the missing funds to their users through their fees. Bter has been the victim of two separate hacks in recent times, and have shown a willingness to accept the punishment for their failure and ensure their users are made whole–but will they be able to keep it up? They have a difficult road ahead: they must regrow volume to generate fees to pay their users back with. If they are unable to, they will be in real trouble.

Details:

  • .18% fees
  • Volume in excess of ~10K BTC / day.
  • A lot of altcoin markets
  • 2FA

Pros:

  • Low fees, high liquidity, desktop trading software
  • Good customer service, fairly reputable business
  • Wide selection of markets

Cons:

  • Some recent controversy, been called scammy a few times. I think it is mostly solved now–hard to find bad press about them by searching.
  • They’re in China
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