Overview
BTCSquare was launched in 2018, claiming to offer low fees, no KYC, and support for users in over 200 countries. It promoted perks for PLURA token holders and cold wallet security. In practice, the exchange stayed under the radar and failed to earn trader trust.
What is BTCSquare
The platform advertised itself as a global trading venue based in Seychelles, targeting privacy-focused users. It claimed to hold 98% of assets in cold storage and to offer fee reductions through its native token. Despite these promises, it never achieved real traction and soon lost relevance.
Trading and Usability
BTCSquare supported only basic spot trading with a minimal interface. An API was offered for automated strategies, but it was rarely used due to nonexistent liquidity. Order books had no depth, making trading nearly impossible.
Fees and Liquidity
Standard fees were 0.10% for both makers and takers, with PLURA token holders supposedly receiving near-zero fees. However, daily volumes rarely exceeded a few thousand dollars, and markets lacked activity. Slippage was severe for any significant order.
Security and Reputation
While the exchange claimed strong security measures, real user experiences told another story. Many traders reported lost funds, frozen accounts, and zero customer support. Scam detectors flagged the site, and its reputation plummeted to near zero.
Liquidity and Asset Support
BTCSquare listed assets like PLURA, XMR, LTC, ZEC, and ETN. The most traded pairs were PLURA/BTC and XMR/BTC, yet volumes stayed under $30k. Most other markets were completely inactive, with no trades executed.
Pros and Cons
- Pros: Low flat trading fees; Promised cold storage for user funds.
- Cons: Extremely low volume; Reports of lost deposits and blocked withdrawals; No transparency; Poor reputation and scam warnings; No recognition by major industry trackers.
Who Should Avoid It
All traders should avoid BTCSquare. The lack of liquidity, unresolved user complaints, and inactive markets make it unsafe. Even small trades carry high risk with no guarantees.
Final Thoughts
BTCSquare started with marketing hype around low fees and global access but quickly fell apart. With almost no trading activity, negative user reports, and a broken reputation, it is no longer considered a viable exchange. Trust and transparency remain the key lessons here.