BTCsquare Crypto Exchange Review: Is It Safe or Just a Ghost Platform?

If you're looking for a crypto exchange that doesn't ask for your ID, BTCsquare might pop up in your search. But here’s the truth: BTCsquare isn't a trading platform you want to use - not because it's shady, but because it's practically dead.

What BTCsquare Actually Is (And Isn't)

BTCsquare claims to be a no-KYC crypto exchange launched in 2018, registered in Seychelles. It says it lets you trade without handing over your personal documents. That sounds great if you value privacy. But privacy means nothing if you can't actually trade.

The platform supports a few basic features: an order book, price charts, and buy/sell buttons. It also offers API access for advanced traders. Sounds fine on paper. But here’s the catch - there’s almost no one using it.

According to CoinMarketCap’s last update in October 2025, BTCsquare is labeled an “Untracked Listing.” That’s not a typo. It means trading volume is so low, the platform doesn’t even meet the minimum threshold to be measured. For context, Binance handles over $2 billion in volume every single day. BTCsquare? Its last recorded 24-hour volume was $2,334 - back in March 2020. Six years later, nothing has changed.

The PLURA Token Promise: Fees Almost Zero?

BTCsquare says holding its native token, PLURA, cuts trading fees to “almost zero.” That’s the big selling point. But here’s the problem: no one knows the actual fee structure. There’s no public breakdown. No documentation. No way to verify if the discount even works.

Even if it did, who’s going to trade on a platform where the only people using it are bots or one-off testers? You can’t get a good price if there are no buyers or sellers. Slippage becomes a real issue. A $500 trade might execute at 15% worse than the market price because there’s no depth in the order book.

And what happens if you need to withdraw your crypto? There are zero user reviews on Trustpilot, Reddit, or any major forum. Not one. Not even a complaint. That’s not because everyone’s happy. It’s because no one’s using it long enough to have a story to tell.

Security Claims That Don’t Match Reality

BTCsquare says it stores 98% of funds in cold multisig wallets. That sounds reassuring. But cold storage doesn’t matter if the exchange is barely operational. There’s no independent audit. No proof of reserves published. No transparency report.

Compare that to Binance, Kraken, or Coinbase - all of which publish regular proof-of-reserves and undergo third-party audits. BTCsquare doesn’t even pretend to do that. The lack of any public security documentation is a red flag bigger than its tiny trading volume.

No Mobile App. No Support. No Community.

You can’t download a mobile app for BTCsquare. It’s web-only. That’s fine if you’re always at your computer. But what if you’re traveling? What if you need to react to a market move while on the go?

There’s no customer support page you can find. No live chat. No email address listed on their site. No FAQ. No help center. And no user community. No Discord. No Telegram group. No Reddit thread. Nothing.

That’s not “minimalist.” That’s abandonment.

Why Experts Ignore BTCsquare

You won’t find BTCsquare in any of the “Best Crypto Exchanges 2025” lists. Not on CryptoPotato. Not on Koinly. Not on CoinGecko’s top 50. Not even in the “hidden gems” section.

Why? Because experts don’t review platforms that don’t exist in any meaningful way. If an exchange has less than $3,000 in daily volume, it’s not a market player - it’s a ghost town.

The only people still mentioning BTCsquare are bloggers repeating the same outdated claims from 2019. One review from Cryptowisser in 2019 warned: “There’s a risk this exchange will shut down soon.” That was six years ago. And it’s still standing - barely.

Who Even Uses BTCsquare?

Honestly? Probably no one. Or maybe a handful of people testing it once and then leaving.

The only scenario where BTCsquare might make sense is if you’re in a country where even basic KYC is illegal, and you need to trade a tiny amount of crypto anonymously - and you’re okay with the fact that you might not be able to sell it later.

Even then, there are better options. LocalBitcoins still has volume. Bisq is open-source and decentralized. Even some privacy coins like Monero have better liquidity on smaller, more reputable exchanges.

The Bigger Picture: Why Low-Volume Exchanges Fail

The crypto exchange market is consolidating. In 2024, the top 10 exchanges handled over 90% of global volume. The rest - hundreds of tiny platforms - are fading out.

BTCsquare isn’t just behind the curve. It’s on a different curve entirely. While the industry moves toward regulation, better security, and institutional adoption, BTCsquare clings to a 2017-era idea: “no KYC = better.”

But users today want reliability. They want to know their funds are safe. They want to be able to trade without worrying their order will never fill. They want apps, support, and community.

BTCsquare offers none of that.

Final Verdict: Don’t Use BTCsquare

BTCsquare isn’t a scam. It’s not hacked. It’s not a Ponzi. It’s just irrelevant.

If you’re looking for a no-KYC exchange, go with something that has actual users. Something that’s still alive. Something that’s been tested.

BTCsquare is a relic. A digital ghost. A platform that looks like it’s still running but has no one inside.

Save yourself the trouble. Use a real exchange. Even if you have to do KYC. Because the cost of identity verification is nothing compared to the cost of losing your crypto to a platform that vanished overnight.

There are better places to trade. There always have been.