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BlueRate Exchange Review: Scam or Legitimate?

BlueRate Exchange Review: Scam or Legitimate?

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Caution: Please do not signup or trade with Blue Rate/Bluerate.com as they appear to be connected with the recent suspicious brand bluetrading.com. 

 

BlueRate Exchange is a new digital asset trading and exchange platform with a host of features which are rare to find with any other Cryptocurrency exchange.

Although BlueRate is still a new player in this market, a Who.is check reveals that the domain was registered in 2011.

There is nothing wrong with this as it could be an indication that the owner of BlueRate just decided to buy a domain that was previously registered. This has nothing to do with the quality of services they offer. Instead, it’s more of a search engine operation function, which should not worry you at all.

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The best part of BlueRate is that they have a wide range of Cryptocurrencies on their platform which can be exchanged instantly into other altcoins or fiat currencies.

This exchange appears to be putting more emphasis on flexibility, user experience, and customer support.

We have actually used them a couple of times now. So this review is actually from a user’s perspective.

BlueRate Review: are they legitimate?

Yes they are. But to answer that question more comprehensively, we’d need to consider their backgrounds and see whether the operation is run by genuine and qualified people as opposed to just rookies trying to cash in on the blockchain rash.

BlueRate website does not introduce the founder or their members on their website. But at the same time, they don’t hide this information on who.is as the domain is clearly registered to someone called Daniel Avila.

It is not clear whether these details belong to the previous owner of the domain or the current owner, BlueRate exchange.

On the site, the owners of this website are not discussed anywhere. But investors can still contact support on [email protected] if they have questions pertaining to this issue.

So at this point, we should be concentrating on the services which they offer in addition to discussing how unique their services are compared to other Cryptocurrency exchanges on the web.

Features of BlueRate

The first feature that we have to mention in relation to BlueRate is their customer support and quality of service which they offer here.

Their dedicated support team work 24 hours a day, and that means you should always expect your questions to be answered in the shortest time possible. When they say a dedicated team, they really mean that a team of dedicated personnel is always on stand-by, just in case someone needs questions answered or problems addressed.

  • Coin Market cap statistics

For those of you who are analytical in nature, this feature is extremely important. This feature lists down all altcoins that are available for trading on the exchange.

bluerate market cap stats table

It will show you the market cap for each coin, the volume traded in the last 24 hours, price, current volume in circulation, as well as other metrics showing how the coin has been traded in the last 24 hour and 1 week respectively.

We find this feature quite useful because anyone who wants to trade a particular coin can already get all the information they need from this table.

We can deduce from this table that even though BlueRate is a new Crypocurrency exchange on the internet, their trading volume is really good.

There is no way you will have to wait in order to trade one altcoin to another or to fiat currency because volume is big enough to cater for that demand.

Also, this table shows that BlueRate is transparent with their pricing. If you want to sell the USD for Bitcoin, you will see the actual price listed on this table.

What you see is what you get. That’s an aspect of transparency.

  • They’ve integrated the famous eToro platform

We’ve talked about eToro before. eToro is basically a platform that enables novice traders to copy the best traders in the world.

bluerate etoro

Because BlueRate is an exchange that allows trading (and would also like to work with newbies in this industry), they’ve integrated eToro on their website. That means you can still make a profit trading altcoin pairs even if you have never traded online before.

This is an innovative idea. We have never seen any Cryptocurrency exchange implementing such an idea on their platform.

Therefore, apart from traditionally exchanging your dollars into bitcoin and then selling when the price of Bitcoin has risen, they also allow you to trade the same way we do it in Forex or Binary options. But they are helping you succeed through the integrated eToro feature.

  • You can instantly convert digital assets

People hate to wait because they don’t have the patience to.

The best place to instantly buy or sell digital assets is BlueRate. This platform accepts both Visa and MasterCard for convenient payment.

Etbot

If you want to exchange fiat currencies into Bitcoin, you can do so instantly the moment you click the tab that says ”exchange”.

You also get the best rates for exchanging altcoins. This is not like any other exchange where hidden fees are involved during the exchange process.

We can say that BlueRate has put more focus on customer experience and cost-cutting measures too.

  • Security

This website has put in place innovative security measures to ensure security of funds and user information. Not only do they use encryption on their site, but they’ve also implemented secure API transaction keys which they say will offer 100% blockchain experience.

Therefore, in terms of security, customers are covered. You don’t have to worry of hacking or anything else.

Other things worth taking note of

BlueRate is compatible with mobile devices too. You can use their platform on iOS and Android as well. They have an app for both platforms.

That will allow you to exchange Bitcoin to USD on the fly. It will also allow you to access your account anywhere at any time.

Most exchanges have now designed their platforms to be accessible in mobile devices. So Blue Rate is not an exception. They’ve just implemented a strategy to ensure that they can reach a wider audience through mobile devices.

Ownership

The website claims that the operations of this exchange are managed by a corporation known as Operated by BluVenture Group Ltd.

But this corporation is not listed alongside the domain name on who.is.

We don’t know the nature of affiliation that these two are having. However, BluVenture Group Ltd seems to be an independent corporation.

We could not establish the affiliation between the two. Perhaps we will be updating this review with relevant information pertaining to ownership after getting a response from their support.

What we think

Overall, Blue Rate is a good Cryptocurrency exchange platform. We have never encountered any complaints being directed at them.

Although there are not so many user reviews and testimonials about this exchange on the internet, the few that we have seen are overly positive, which confirms our experience with their services as well.

Our best advice for you

Blue Rate is one of the newest but honest exchange platforms on the internet. If you want to exchange your USD or EUR into any altcoin of your choice, this exchange will do it for you quick and efficiently. Just pull out your Visa or MasterCard and perform the transaction.

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4 Replies to “BlueRate Exchange Review: Scam or Legitimate?”

  1. They just scammed investors as “BlueTrading.com” in Feb 2019…now they are operating as this company! Stay clear. Read the scammed investor reviews on trustpilot and forexpeacearmy…!!

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