What is BitStorage?
BitStorage is a Seychelles-based exchange that’s been around since 2018. It offers spot trading, staking, demo accounts and a moderate basket of coins - but conflicting metrics and thin transparency raise caution flags.
Quick snapshot table
- Launched: 2018 (Seychelles)
- Assets: ~31-33 coins, ~39-47 pairs
- Daily volume: $5.9M-$16.7M (varies by source)
- Fees: 0.1% limit, 0.2% market, zero deposit fees
- Withdrawal fees: Based on asset
- Trust scores: CoinGecko ~6/10, CER ~51%
- Security incidents: No big hacks, no reserve proofs
Why people consider or question it
BitStorage shows moderate volumes on paper, supports niche coins, and has simple fees - with 0% for maker and 0.2% for market orders. No deposit fees also appeals. But data on actual volume is messy, ranging from $7.8M to nearly $40M across sources, hinting at unreliable stats or outdated figures.
Liquidity and user experience
Main pairs like BTC/USDT and ETH/USDT handle most of the action, but smaller altcoins show thin order books. That means larger trades may slip badly. UI is typical of low-tier CEXs - quick swaps, OTC feel, some staking, but few verified reviews to back it up.
Security and trust position
- Uses cold storage, SSL, two-factor login and says it runs a bug bounty.
- No public reserve reports or penetration test results.
- CER gives it a CCC grade (~51%), meaning minimal security depth.
Trustpilot sits at around 3.8/5 across 11 reviews - tiny sample size. Comments mix decent OTC feedback with warnings of slow support and some delayed deposits.
Pros and cons snapshot
- Pros: Transparent fee system, no deposit charges, some niche coins, modest daily volumes.
- Cons: Discrepant volume data, no audits, thin liquidity on minor pairs, limited security clarity.
Final verdict
BitStorage might suit casual traders chasing smaller altcoins or wanting simple fee setups. But lack of transparency, unverified reserves, conflicting stats and weak security grades make it risky for bigger capital. Start tiny, test deposits and withdrawals, and see how support reacts before deciding to trust it further.