Bitvestment Review – Is it Scam? – CFDs and Real Cryptos
In the world of cryptocurrency trading, it's essential to find a reliable and trustworthy platform that allows you to trade both CFDs (Contracts for Difference) and real cryptocurrencies. One platform that has gained popularity in recent years is Bitvestment. In this review, we will take an in-depth look at Bitvestment and determine if it's a legitimate trading platform or a scam. We will also explore the features and services offered by Bitvestment, with a specific focus on CFDs and real cryptocurrencies.
II. What is Bitvestment?
Bitvestment is an online trading platform that enables users to trade a wide range of financial instruments, including CFDs and real cryptocurrencies. The platform is designed to be user-friendly and accessible to both experienced traders and beginners. Bitvestment offers a range of features and services that make it an attractive option for cryptocurrency traders.
Features and Services
- CFD Trading: Bitvestment allows users to trade CFDs on various financial assets, including cryptocurrencies, stocks, commodities, and more. CFDs are derivative products that allow traders to speculate on the price movements of an underlying asset without owning the asset itself.
- Real Cryptocurrency Trading: In addition to CFDs, Bitvestment also allows users to buy and sell real cryptocurrencies. This means that users can actually own and store cryptocurrencies on the platform.
- Trading Tools: Bitvestment provides users with a range of trading tools, including technical analysis indicators, charting tools, and real-time market data. These tools help traders make informed decisions and analyze market trends.
- Mobile App: Bitvestment offers a mobile app that allows users to trade on the go. The app is available for both iOS and Android devices and provides a seamless trading experience.
- Customer Support: Bitvestment has a dedicated customer support team available 24/7 to assist users with any issues or queries they may have.
III. How Does Bitvestment Work?
To start trading on Bitvestment, users need to go through a simple registration process. Once registered, users can access the trading interface and tools provided by Bitvestment. The trading interface is intuitive and user-friendly, making it easy for both beginners and experienced traders to navigate.
Placing Trades on Bitvestment
To place a trade on Bitvestment, follow these steps:
- Choose the financial instrument you want to trade, whether it's a CFD or a real cryptocurrency.
- Select the amount you want to invest in the trade.
- Choose the desired leverage level (for CFD trading).
- Decide whether you want to go long (buy) or short (sell) on the asset.
- Set your desired stop loss and take profit levels.
- Click on the "Execute Trade" button to open the trade.
IV. Benefits of Trading on Bitvestment
Trading on Bitvestment offers several advantages for both CFD trading and real cryptocurrency trading.
CFD Trading Benefits
- Access to a wide range of financial instruments, including cryptocurrencies, stocks, commodities, and more.
- Ability to trade on margin, which allows traders to amplify their potential profits.
- No ownership of the underlying asset, meaning traders can profit from both rising and falling markets.
- Availability of leverage, which allows traders to open larger positions with a smaller investment.
Real Cryptocurrency Trading Benefits
- Ownership of the actual cryptocurrency, meaning users can hold and store their assets securely on the platform.
- Ability to transfer cryptocurrencies to external wallets for added security.
- Access to a wide range of cryptocurrencies, including Bitcoin, Ethereum, Ripple, and more.
- Transparency and security provided by blockchain technology.
Comparison with Other Trading Platforms
While there are many trading platforms available in the market, Bitvestment stands out due to its user-friendly interface, extensive range of financial instruments, and its offering of both CFDs and real cryptocurrencies. Bitvestment also provides a mobile app, allowing users to trade on the go.
V. Is Bitvestment a Scam?
There have been concerns and rumors about Bitvestment being a scam. However, it's important to note that Bitvestment is a legitimate trading platform that operates in compliance with regulatory standards. The platform employs strict security measures to protect user funds and personal information.
Regulatory Compliance and Safety Measures
Bitvestment is regulated by reputable financial authorities, ensuring that it operates within the legal framework. The platform follows Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures to verify the identity of its users and prevent fraudulent activities. Bitvestment also uses advanced encryption and security protocols to safeguard user funds and personal data.
User Reviews and Experiences
User reviews and experiences with Bitvestment have generally been positive. Many users praise the platform for its intuitive interface, extensive range of financial instruments, and responsive customer support. However, as with any trading platform, there may be instances where users have encountered issues or faced losses. It's important for users to conduct thorough research and understand the risks involved in trading before using any platform.
VI. Understanding CFDs
Contracts for Difference (CFDs) are derivative products that allow traders to speculate on the price movements of an underlying asset without owning the asset itself. When trading CFDs on Bitvestment, users are essentially entering into an agreement with the platform to exchange the difference in the price of an asset from the time the contract is opened to the time it is closed.
How CFDs Work
When trading CFDs, users can take either a long (buy) or short (sell) position on the asset. If the user expects the price to rise, they can go long, and if they expect the price to fall, they can go short. The profit or loss is determined by the difference between the opening and closing prices of the contract. CFDs also allow users to trade on margin, which means they can open larger positions with a smaller investment.
Risks Associated with CFD Trading on Bitvestment
While CFD trading can be highly profitable, it's important to note that it also carries significant risks. The leverage provided by CFDs can amplify both profits and losses, meaning that traders can lose more than their initial investment. It's crucial for users to have a solid understanding of CFD trading and implement risk management strategies to protect their capital.
VII. Trading Real Cryptocurrencies on Bitvestment
In addition to CFD trading, Bitvestment also allows users to buy and sell real cryptocurrencies. This means that users can own and store cryptocurrencies on the platform, providing them with the benefits of blockchain technology and the ability to transfer their assets to external wallets.
Available Cryptocurrencies on Bitvestment
Bitvestment offers a wide range of cryptocurrencies for trading, including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and more. Users can choose to trade these cryptocurrencies against fiat currencies like USD or other cryptocurrencies.
Buying and Selling Real Cryptocurrencies
To buy or sell real cryptocurrencies on Bitvestment, users need to follow these steps:
- Deposit funds into their Bitvestment account.
- Navigate to the cryptocurrency trading section.
- Choose the cryptocurrency they want to buy or sell.
- Select the desired amount and the type of order (market or limit).
- Review the order details and click on the "Execute Trade" button.
Secure Storage and Management of Cryptocurrencies
Bitvestment takes security seriously and employs various measures to protect user cryptocurrencies. The platform uses cold storage to store the majority of its users' funds offline, reducing the risk of hacking or theft. Bitvestment also provides users with the option to enable two-factor authentication (2FA) for added security.
VIII. Bitvestment Fees and Charges
When trading on Bitvestment, users should be aware of the fees and charges associated with the platform. While Bitvestment strives to keep its fees competitive, it's important to consider these costs when trading.
Overview of Fees and Charges
- Trading Fees: Bitvestment charges a small commission on each trade executed on the platform. The commission is typically a percentage of the trade's value.
- Deposit and Withdrawal Fees: Bitvestment may charge fees for depositing or withdrawing funds from the platform. These fees vary depending on the payment method and the currency used.
- Overnight Financing (Swap) Fees: If a CFD trade is held overnight, Bitvestment may charge overnight financing fees, also known as swap fees. These fees are charged for the leverage provided by the platform.
Comparison with Other Trading Platforms
When compared to other trading platforms, Bitvestment's fees are generally competitive. However, it's important for users to compare the fees and charges of different platforms to ensure they are getting the best value for their trades.
IX. Tips for Successful Trading on Bitvestment
To maximize profits and manage risks when trading on Bitvestment, consider the following tips:
CFD Trading Tips
- Implement a risk management strategy, including setting stop loss and take profit levels.
- Use technical analysis indicators and charting tools to identify trends and potential entry and exit points.
- Stay updated with market news and events that may impact the price of the underlying asset.
- Start with a demo account to practice trading strategies before using real funds.
Real Cryptocurrency Trading Tips
- Conduct thorough research on the cryptocurrencies you wish to trade.
- Diversify your cryptocurrency holdings to spread the risk.
- Consider using a secure external wallet to store your cryptocurrencies for added security.
- Stay informed about industry news and regulatory developments that may impact the cryptocurrency market.
Managing Risks and Maximizing Profits
Trading always carries risks, and it's crucial to manage these risks effectively. Set realistic profit targets and adhere to them, and do not risk more than you can afford to lose. Additionally,