by Bitvestment Review – Is it Scam? – Online Broker
Introduction
In recent years, the popularity of cryptocurrencies has been on the rise, and as a result, many online brokers have emerged to provide trading services for these digital assets. One such online broker is Bitvestment, which claims to offer a reliable and secure platform for trading cryptocurrencies. However, with so many online brokers claiming to offer the same services, it can be challenging to determine which one is legitimate and which is a scam. In this review, we will examine Bitvestment in detail to determine whether it is a legitimate online broker or a scam.
Background Information
Bitvestment was founded in 2018 and is based in Estonia. The company is registered with the Estonian Financial Intelligence Unit (FIU) and is compliant with the anti-money laundering (AML) and know-your-customer (KYC) regulations. Bitvestment claims to use advanced security measures to protect its clients' funds and personal information. The company also provides 24/7 customer support via email, phone, and live chat.
Bitvestment Features
Bitvestment offers a trading platform that is accessible via desktop and mobile devices. The platform allows users to trade a variety of cryptocurrencies, including Bitcoin, Ethereum, Ripple, and Litecoin. Bitvestment offers several account types, including a demo account for beginners, a standard account for regular traders, and a pro account for professional traders. The platform also offers leverage and margin trading, which allows traders to increase their potential profits but also comes with increased risks. Deposits and withdrawals can be made using various payment methods, including credit/debit cards, bank transfers, and e-wallets.
Bitvestment Fees and Charges
Bitvestment charges a trading fee of 0.25% per trade, which is relatively competitive compared to other online brokers. The deposit and withdrawal fees vary depending on the payment method used, with bank transfers being the cheapest option. Bitvestment also charges an inactivity fee of $10 per month for accounts that have been inactive for more than 90 days.
Bitvestment Trading Experience
The Bitvestment trading platform is user-friendly and easy to navigate, even for beginners. The platform offers several trading tools and indicators, including technical analysis charts, to help traders make informed decisions. The order execution is fast and reliable, and traders can place market, limit, and stop orders. Bitvestment also offers a mobile trading app that is available for iOS and Android devices, allowing traders to access the platform on the go.
Bitvestment Customer Reviews
Bitvestment has received mixed reviews from its customers. Some customers praise the platform for its user-friendliness and customer support, while others complain about the high fees and slow withdrawal processing times. The most common complaints are related to the verification process, with some customers reporting difficulties in getting their accounts verified.
Bitvestment Scam Claims
There have been some scam claims against Bitvestment, with some customers accusing the company of fraudulent activities, such as manipulating prices and stealing funds. However, there is no concrete evidence to support these claims, and Bitvestment denies any wrongdoing. It is essential to note that many online brokers receive scam claims, and not all of them are true.
Bitvestment Alternatives
There are many alternative online brokers to Bitvestment, including Coinbase, Binance, and Kraken. Each of these platforms has its pros and cons, and traders should choose the one that best suits their needs. Coinbase, for example, is known for its user-friendly interface and security measures, while Binance offers a wide range of trading instruments and low fees. Kraken is a popular choice for advanced traders and offers margin trading and futures contracts.
Conclusion
After a thorough review of Bitvestment, we can conclude that it is a legitimate online broker that offers reliable and secure trading services for cryptocurrencies. While there have been some complaints from customers, they are not significant enough to suggest that Bitvestment is a scam. However, as with any online broker, traders should exercise caution and do their research before investing their funds.
Frequently Asked Questions
What is Bitvestment?
Bitvestment is an online broker that offers trading services for cryptocurrencies.
Is Bitvestment safe?
Yes, Bitvestment claims to use advanced security measures to protect its clients' funds and personal information. The company is also registered with the Estonian Financial Intelligence Unit and is compliant with the AML and KYC regulations.
What are the fees and charges on Bitvestment?
Bitvestment charges a trading fee of 0.25% per trade and deposit and withdrawal fees that vary depending on the payment method used. The platform also charges an inactivity fee of $10 per month for accounts that have been inactive for more than 90 days.
How do I open an account on Bitvestment?
To open an account on Bitvestment, visit the platform's website and click on the "Sign Up" button. Follow the instructions to complete the registration process.
Can I use Bitvestment on my mobile device?
Yes, Bitvestment offers a mobile trading app that is available for iOS and Android devices.
Does Bitvestment offer leverage trading?
Yes, Bitvestment offers leverage and margin trading, which allows traders to increase their potential profits but also comes with increased risks.
How long does it take to withdraw funds from Bitvestment?
Withdrawal processing times vary depending on the payment method used. Bank transfers can take up to five business days, while e-wallets are usually processed within 24 hours.
What are the trading instruments available on Bitvestment?
Bitvestment offers a variety of cryptocurrencies, including Bitcoin, Ethereum, Ripple, and Litecoin.
How does Bitvestment compare to other online brokers?
Bitvestment has its pros and cons, like any other online broker. Traders should compare Bitvestment with other platforms, such as Coinbase, Binance, and Kraken, to determine which one best suits their needs.
Is Bitvestment a scam?
Based on our review, Bitvestment is not a scam. While there have been some complaints from customers, there is no concrete evidence to support the scam claims against the platform. However, traders should exercise caution and do their research before investing their funds.
