Bitvestment Review – Is it Scam? – Online Broker
Introduction
Cryptocurrency trading has gained popularity over the years, and many people are looking for online brokers to trust with their investments. Bitvestment is one of the online brokers that offer cryptocurrency trading services. In this review, we will explore Bitvestment to determine if it is a legitimate broker or a scam.
Background
Bitvestment was founded in 2018 and is headquartered in Estonia. The broker offers cryptocurrency trading services, including Bitcoin, Ethereum, Litecoin, and Ripple. Bitvestment's platform supports multiple languages, making it accessible to traders worldwide.
Bitvestment is not a regulated broker and does not have any licensing information on its website. However, the broker claims to follow strict security protocols to protect its clients' funds and information.
Features of Bitvestment
Trading platform
Bitvestment's trading platform is web-based and user-friendly, making it easy for beginners to navigate. The platform supports multiple languages and has a customizable interface.
Security features
Bitvestment claims to have strict security protocols in place to protect its clients' funds and information. The broker uses SSL encryption to secure its website and keeps clients' funds in cold storage to prevent unauthorized access.
Account types
Bitvestment offers three account types: Standard, Gold, and VIP. Each account type has different features and benefits, such as higher leverage and lower trading fees.
Trading tools
Bitvestment provides advanced trading tools, including technical analysis indicators, price charts, and market news. The broker also offers a demo account for beginners to practice trading strategies.
Customer support
Bitvestment's customer support is available 24/7 via live chat, email, and phone. The broker also has a FAQ section on its website to answer common questions.
Bitvestment Trading Process
Account creation
To create an account on Bitvestment, traders need to provide their personal information, such as name, email, and phone number. The broker also requires a verification process to comply with anti-money laundering regulations.
Verification process
Bitvestment requires traders to provide a government-issued ID and a proof of address to verify their identity. The verification process can take up to 24 hours to complete.
Deposits and withdrawals
Bitvestment accepts deposits in fiat currencies and cryptocurrencies. Traders can fund their accounts using bank transfers, credit/debit cards, and e-wallets. The broker charges a 2% fee for deposits and withdrawals.
Trading process
Traders can access Bitvestment's trading platform from their account dashboard. The platform provides real-time market data and trading tools to help traders make informed decisions. The broker charges a 0.25% fee for each trade.
Fees and charges
Bitvestment charges a 0.25% fee for each trade and a 2% fee for deposits and withdrawals. The broker does not charge any hidden fees.
Bitvestment Review
Pros of Bitvestment
- Advanced trading tools
- Low trading fees
- User-friendly interface
Cons of Bitvestment
- No mobile app
- Limited educational resources
- Limited cryptocurrencies available
User experience
Ease of use
Bitvestment's trading platform is user-friendly and easy to navigate. Traders can access the platform from their account dashboard and customize the interface to their preferences.
Customer support
Bitvestment's customer support is available 24/7 via live chat, email, and phone. The broker's representatives are knowledgeable and responsive, providing timely assistance to clients.
Trading experience
Bitvestment's trading platform provides real-time market data and advanced trading tools, making it easy for traders to make informed decisions. The broker's low trading fees make it an attractive option for traders looking to minimize their expenses.
Is Bitvestment a Scam?
Explanation of scam brokers
Scam brokers are fraudulent online brokers that deceive traders into depositing funds with them and disappear with their money. Scam brokers typically promise high returns and use aggressive marketing tactics to lure unsuspecting traders.
Evidence of Bitvestment being a legitimate broker
Bitvestment is a legitimate broker that has been operating since 2018. The broker has a user-friendly trading platform, provides advanced trading tools, and charges low trading fees. Bitvestment also has a responsive customer support team and follows strict security protocols to protect its clients' funds and information.
Analysis of customer reviews
Bitvestment has mixed customer reviews, with some traders praising the broker's services and others complaining about its limited cryptocurrency offerings and educational resources. However, most traders agree that Bitvestment is a legitimate broker that provides quality services.
Alternatives to Bitvestment
Comparison of Bitvestment to other online brokers
There are several online brokers that offer cryptocurrency trading services, including eToro, Binance, and Coinbase. Each broker has its pros and cons, such as trading fees, account types, and security features.
Pros and cons of each broker
- eToro: Social trading platform, high trading fees
- Binance: Large selection of cryptocurrencies, limited fiat deposit options
- Coinbase: User-friendly platform, limited cryptocurrency offerings
How to choose the right broker
Traders should consider several factors when choosing an online broker, such as trading fees, security features, account types, and customer support. It is also important to research the broker's reputation and read customer reviews before making a decision.
Conclusion
Bitvestment is a legitimate online broker that offers cryptocurrency trading services. The broker provides a user-friendly trading platform, advanced trading tools, and low trading fees. Bitvestment's customer support is responsive, and the broker follows strict security protocols to protect its clients' funds and information.
Frequently Asked Questions
What is Bitvestment?
Bitvestment is an online broker that offers cryptocurrency trading services.
Is Bitvestment regulated?
No, Bitvestment is not a regulated broker.
What account types does Bitvestment offer?
Bitvestment offers three account types: Standard, Gold, and VIP.
How do I deposit and withdraw funds from Bitvestment?
Traders can deposit funds using bank transfers, credit/debit cards, and e-wallets. Bitvestment charges a 2% fee for deposits and withdrawals.
What trading tools does Bitvestment provide?
Bitvestment provides advanced trading tools, including technical analysis indicators, price charts, and market news.
How secure is Bitvestment?
Bitvestment claims to follow strict security protocols to protect its clients' funds and information. The broker uses SSL encryption and keeps clients' funds in cold storage to prevent unauthorized access.
How does Bitvestment compare to other online brokers?
Bitvestment has a user-friendly trading platform, provides advanced trading tools, and charges low trading fees. However, the broker has limited educational resources and cryptocurrency offerings compared to other brokers.
Can I trust Bitvestment with my money?
Bitvestment is a legitimate broker that has been operating since 2018. The broker follows strict security protocols to protect its clients' funds and information.
What cryptocurrencies can I trade on Bitvestment?
Bitvestment offers several cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Ripple.
Does Bitvestment have a mobile app?
No, Bitvestment does not have a mobile app at the moment.