If you're looking for a crypto exchange that doesn't ask for ID, promises near-zero fees, and claims to serve users in over 200 countries, BTCsquare might pop up in your search. But here’s the truth: BTCsquare isn't a thriving exchange. It's a ghost town with a trading interface.
What BTCsquare Actually Offers
BTCsquare launched in 2018 and says it’s based in Seychelles. It markets itself as a no-KYC platform - meaning you can trade without submitting any personal documents. That sounds great if you value privacy. But privacy without liquidity is just isolation.
The platform lets you trade using a standard web interface: order books, price charts, buy/sell buttons. Nothing fancy. No mobile app. No educational guides. No live chat. Just a basic website that looks like it hasn’t been updated since 2020.
Its only real feature is the PLURA token. Hold it, and your trading fees supposedly drop to almost zero. Sounds like a good deal - until you realize no one’s trading enough to make it matter.
The Volume Problem: Too Thin to Trade
Back in 2019, BTCsquare recorded $1,926 in 24-hour trading volume. By early 2020, it climbed to $2,334. That’s less than the cost of a used laptop.
Today, in December 2025, CoinMarketCap lists BTCsquare as an Untracked Listing. That’s not a technical glitch. It’s a death sentence. CoinMarketCap only stops tracking exchanges when trading volume falls below a threshold - meaning there’s not enough activity to even measure.
Compare that to Binance, which trades $2-5 billion daily. BTCsquare’s volume is 0.0001% of that. If you try to sell even $500 worth of Bitcoin here, you’ll likely get crushed by slippage. Buyers won’t be there. Sellers won’t be there. You’ll be stuck watching your order sit in the book for hours - or days.
Security Claims That Don’t Match Reality
BTCsquare says it stores 98% of funds in cold multisig wallets. That sounds secure. But here’s the catch: if no one’s trading, how do you know the wallet even exists?
There’s no public proof. No on-chain audits. No transparency reports. No user testimonials about successful withdrawals. And with only one user review ever posted (on a third-party site), there’s zero community validation.
Major exchanges like Kraken and Coinbase are licensed, regulated, and regularly audited. BTCsquare operates in a legal gray zone - Seychelles has weak crypto oversight. That means if the platform vanishes tomorrow, you have no recourse. No FDIC. No insurance. No legal team.
Why Experts Ignore It
Look at any credible list of top crypto exchanges in 2025 - CryptoPotato, Koinly, CoinGecko. BTCsquare isn’t on any of them. Not even in the "others" section.
Cryptowisser warned back in 2019 that BTCsquare might shut down soon. That was six years ago. Nothing changed. No new features. No marketing push. No partnerships. Just silence.
It’s not just about volume. It’s about trust. When an exchange has no user base, no media coverage, no developer activity, and no updates for years, it’s not a platform - it’s a waiting room for closure.
Who Should Even Consider BTCsquare?
Only one kind of person might find this useful: someone who needs absolute anonymity for a single, tiny trade - and doesn’t care if they lose money on slippage or never get their funds out.
Maybe you’re in a country where crypto is banned, and you need to move $20 in Bitcoin without ID. Even then, there are better options. LocalBitcoins still has volume. Bisq is decentralized and open-source. Even Hodl Hodl has more active users.
BTCsquare offers no advantages over those. No better fees. No better security. No better support. Just the same empty interface.
The Bottom Line: Avoid It
BTCsquare isn’t a scam in the traditional sense. It doesn’t steal funds. It doesn’t fake volume. It just… exists. Barely.
But in crypto, existence without activity is dangerous. You can’t trade reliably. You can’t withdraw confidently. You can’t get help when something goes wrong. And if the site suddenly goes offline, you’ll have no way to prove you ever had an account.
There’s no reason to risk your crypto on a platform that’s been fading for six years. The no-KYC promise is tempting, but it’s not worth losing your money over.
If you want privacy, use a non-custodial wallet like Electrum or Exodus. Trade on decentralized exchanges like Uniswap or PancakeSwap. If you need a centralized exchange, pick one with real volume, real support, and real audits.
BTCsquare isn’t the future of crypto. It’s a relic of its early, reckless days - one that never grew up.
Is BTCsquare a scam?
No, BTCsquare isn’t a classic scam like a fake ICO or rug pull. It doesn’t steal money outright. But it’s a high-risk platform with no liquidity, no user base, and no transparency. If your funds disappear because the site shuts down, you have no legal protection or recovery options. It’s not a scam - it’s a trap for the uninformed.
Can I withdraw my crypto from BTCsquare?
There are no verified withdrawal reports from BTCsquare. No user reviews mention successful withdrawals. The platform has been inactive for years, with no updates or support channels. While the interface may allow withdrawal requests, there’s no evidence that any have been processed in the last five years. Treat any withdrawal as highly uncertain.
Does BTCsquare have a mobile app?
No. BTCsquare is a web-only platform. There is no official mobile app for iOS or Android. This limits accessibility and makes it harder to monitor trades or respond to market moves quickly - a major disadvantage in crypto trading.
What cryptocurrencies does BTCsquare support?
The exact number of supported coins is not listed anywhere. CoinMarketCap shows "No data is available now," which means either the exchange supports very few pairs or the data isn’t being tracked due to inactivity. You can’t rely on it for trading anything beyond the most basic BTC/ETH pairs - if those even work.
Why does BTCsquare still exist if no one uses it?
It likely exists because it costs almost nothing to maintain a basic website. The operators may be holding PLURA tokens or keeping the domain alive for speculative reasons. There’s no evidence of active development, customer service, or marketing. It’s a digital ghost - visible but not alive. Many low-volume exchanges survive this way, waiting to be forgotten.
Are there better no-KYC exchanges?
Yes. Decentralized exchanges like Uniswap, PancakeSwap, and Bisq offer true no-KYC trading with far better liquidity and open-source security. For peer-to-peer trading, LocalBitcoins and Hodl Hodl still have active users. Even if you want centralized, non-KYC options, platforms like Bitfinex (with limited KYC) or KuCoin (with optional KYC) are far more reliable than BTCsquare.
