Coinranking
This exchange is inactive on Coinranking. Its data is not up to date.
Bitsten
Exchange
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Coin listings
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Markets
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About Bitsten
Bitsten Exchange
Bitsten is a centralized crypto exchange that started in 2017, based in Indonesia. It’s been flagged as inactive since August 2023 due to reports of unprocessed withdrawals and unresponsive support, but it’s worth a look to understand what it was about. It offered trading for a small range of coins like Bitcoin, Ethereum, and Litecoin, with 7 coins and 7 trading pairs at its peak.
What Stood Out
- Trading Setup: Focused on a few pairs like BTC/USDC, which once saw $5.2M in 24-hour volume. Fees were decent—0% for makers and 0.2% for takers, with a 0.0005 BTC withdrawal fee, slightly below the industry average.
- Native Token (BST): Had its own token, BST, which gave holders a share of profits (up to 75% daily from fees if you held Steneum coins) and fee discounts.
- Accessibility: Offered Android and iOS apps for trading on the go, and the platform supported local currencies for buying crypto, making it easier for Indonesians.
- Profit Sharing: You could earn 25% of Bitsten’s profits by referring friends, which was a nice perk for active users.
- Security Claims: Touted 90% of funds in cold storage and two-factor authentication, though there’s no hard proof of how secure it really was.
Things to Think About
- Inactive Status: Marked as a scam by Cryptowisser in 2023 after users reported withdrawal issues and no support response. A user on Revieweek mentioned losing access to funds with no reply from support.
- Lack of Transparency: No clear info on the team or regulation. It claimed to be secure but operated without oversight, which is risky.
- Low Activity: Even at its peak, it had modest traffic—only 17 monthly organic visitors per BitDegree, and its last known 24-hour volume was $9.3M in 2019, per CoinGecko.
- User Experience: Some liked its simple interface, but others noted slow updates and limited features—no advanced trading tools like margin trading were widely available.
- Risk of Funds: As a centralized exchange with a shaky track record, any funds left on the platform could be lost, especially since it’s now defunct.
Bitsten aimed to be a big player in Indonesia and Asia but fell apart due to operational issues. It’s not a viable option anymore—steer clear and look for active, regulated exchanges instead.