What is Bitsten?
Bitsten is an Indonesian crypto exchange that launched back in 2018. It pitched itself as a local hub for IDR fiat pairs and cheap BTC withdrawals. But scratch the surface, and it quickly shifts from a promising regional CEX to a case study in how red flags pile up.
Quick snapshot table
- Founded: 2018 (Indonesia)
- Status: Inactive, flagged as untracked
- Services: Spot trading, claimed IDR support
- Fees: 0% maker, ~0.20% taker
- Withdrawals: ~0.0005 BTC
- Trust level: Extremely low, on scam warning lists
- Traffic: Often <1K visits/month
- Native token: BST, ~$2K daily volume
Why it raises alarms
Bitsten looks like a ghost exchange. There’s no verifiable volume - major trackers mark it “untracked.” Empty books and no API proof point to either fully dead markets or undisclosed manipulation. The zero-maker fee could have drawn liquidity, but there’s simply no one to take the other side of trades.
Trust issues and user horror stories
- Listed on scam and high-risk platforms as a dead or fraudulent venue.
- Forum posts describe vanished deposits, stalled KYC checks and unanswered support.
- Some tried to escalate via email or chats and hit a dead end for weeks.
Liquidity, environment and the token angle
Bitsten claims dozens of coins and IDR markets, but with under 1K monthly visits, any real orders are unlikely to fill. Their BST token is illiquid too - under $2K daily volume means if you tried to exit a big position, you’d crash the price yourself.
Security stance - or lack thereof
There are no audits, no reserve proofs, no external reviews. They mention SSL and cold wallets, but zero evidence backs it up. In crypto, “no audit, no proof” usually screams caution, and Bitsten is a textbook example of that.
Pros and cons in brief
- Pros: On paper, low fees and IDR support for Indonesians.
- Cons: Essentially inactive, flagged on scam trackers, illiquid, no audits, and frequent user complaints about stuck funds.
Final verdict
Bitsten stands more as a cautionary tale than a viable exchange. Unless you’re chasing old deposits or studying failed platforms, there’s no reason to risk funds here. Better to stick with audited, active exchanges that show live books and pass third-party security tests. Always start small, check withdrawals, and watch how platforms respond before committing serious capital.