Surbitcoin.com Review 2020 – Scam or Not?
Next to North America, the South American countries are also getting into the cryptocurrency hype. This is obvious since there are a lot of South American websites today providing exclusive if not international exchange services. Today, we will be looking into Surbitcoin.com, a Venezuelan exchange website. Come join us as we explore their website features, know their verification levels and create an account, and eventually learn more about them through this review. Without further delay, let’s talk about that!
Though the website does not mention anything about the year they were launched, they openly share their physical address which is located in Avenida Paseo Cabriales, Valencia, Carabobo 2001 – Venezuela under the company name Inversiones V&K C.A. (RIF Nro. J-400221706). Let’s move forward and create an account with them!
Verification with Surbitcoin.com
To have a verified account, we first need to go to their website and click on the American flag on the upper right-hand side of the screen. This will enable the English version of the website and would be easier to create an account with Surbitcoin.com.
After this has been done, the website will change to English and we’re ready to create your account! To get an account verified, users need to provide personal details including their date of birth, address, and government-issued ID and proof of billing like credit card bill, and utility bill.
Here’s where it gets confusing. Since the website is originally in Spanish, the English translation we did earlier did not work on the verification page. Is this because the website is only intended for Venezuelan customers? If you have a verified account with Surbitcoin.com, please do let us know your personal experiences with them in the comment section below.
The website Surbitcoin.com has two different active wallets that they use to store their customer’s funds. They have a hot wallet to suffice for daily withdrawal needs and a cold wallet stored offline for long-term storage needs. This is good since offline storage is great protection against security breaches that endanger the customer’s funds online.
What’s great is that the website has Two-Factor Authentication enabled for users that want an extra level of security in their accounts. We strongly advise to get this done right away after creating an account with them if you are planning a long time relationship with the website!
Trading with Surbitcoin.com
When it comes to trading BTC here at Surbitcoin.com, all you need to do is head on to their website and click on the Buy or Sell tab located on the left-hand side panel of the account page. This will open up their trade platform wherein everything is shown. First, a market needs to be chosen for the transaction. BTC goes up against VEF, BRL, PKR, CLP, and VND.
Generally, their trading platform is designed properly and is easy on the eyes. Compared to other exchange websites wherein it would be nearly impossible to know where the buttons are, here everything is clear. The only issue that we have with the trading platform of Surbitcoin.com is the fact that it doesn’t auto-calculate the current price of BTC and you need to enter it manually.
Trading fees for buying and selling BTC starts at 0.99% up to 1.59%! Compared to other websites today that offer fees of only 0.20% per transaction, Surbitcoin.com is definitely not a cheap website to trade cryptocurrencies at. They also charge express bank transfers for fees starting at 1.99% up to 2.95% per transaction both of which can be done within the day.
Deposits and Withdrawals
Deposits and withdrawals are just as important as website fees. This is because traders just like us would like to know how we are able to get our funds in and out of the website. Do we have access to the options that they’ve got or do we need to stay away from the website due to withdrawal issues? These are the questions that you should always keep in mind when looking for the next exchange website today.
Surbitcoin.com isn’t different from any other region-based websites since they offer local bank Fiat transactions making it easier for people that are from the region to engage business with them. As mentioned earlier, the website does not allow transactions from accounts that are not yet fully verified. Please have your account verified first before you are able to deposit/withdraw funds.
Here at Surbitcoin.com, they only have an email support system wherein they are able to answer your concerns and issues. This is really bad since having a local number to call if anything happens to an account is much better than to wait for a reply that can take days to receive.
We have always stressed how important customer service is when it comes to exchanging websites or any other website that handles our funds due to the whole nature of the business. If you think that a certain website is not capable of providing your customer service needs, then do not create an account with them. Just like the famous saying goes “Prevention is better than cure”.
Pros and Cons
- Accepts Fiat and BTC deposits
- Hot and Cold wallets
- Only for Venezuelan Market
- High fees
SurBitcoin Review Conclusion
Overall, the website isn’t so bad at all. They have all the features that a region-based exchange should have. The only reason why we do not like it that much is due to the market it is focused on. If you are not from Venezuela or doesn’t speak Spanish, it would be impossible to have an account verified.
Nonetheless, Surbitcoin.com is an exchange that you should check out if you’re from Venezuela. For our readers that have successfully created a verified account with them, please do let us know your experiences with them in the comment section below.