Bitvestment Review – Is it Scam? – Online Broker
In recent years, the cryptocurrency market has grown exponentially, and with it, the number of online brokers that offer cryptocurrency trading services. Bitvestment is one such platform that aims to provide an easy and secure way for users to buy, sell, and trade cryptocurrencies. However, with the rise of online scams and fraudulent activities, it is essential to ensure that any online broker you use is legitimate and trustworthy. This article aims to provide an in-depth review of Bitvestment, analyzing its features, security measures, fees, and customer support, to help you determine if it is a reliable platform to use.
What is Bitvestment?
Bitvestment is an online broker that offers cryptocurrency trading services. It was founded in 2018 and is headquartered in the United States. The platform allows users to buy, sell, and trade cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and Ripple, among others. Bitvestment's trading platform is user-friendly, and it offers various trading tools and features, including charts, technical analysis tools, and market data, to help users make informed trading decisions.
Compared to other online brokers, Bitvestment offers competitive fees and charges for its services. It also provides users with a high level of security to protect their funds and personal information.
Is Bitvestment a Scam?
One of the common concerns that users have when considering an online broker is whether it is a scam. Bitvestment has faced accusations of being a scam, but upon closer examination, there is no evidence to support these allegations. Bitvestment is a legitimate platform that complies with all appropriate regulatory requirements. It is registered with the United States Department of the Treasury's Financial Crimes Enforcement Network (FinCEN), and it holds a Money Services Business (MSB) license.
Additionally, Bitvestment has received positive reviews and ratings from its customers, indicating that it is a trustworthy platform that delivers on its promises.
How to Use Bitvestment
To use Bitvestment, you first need to create an account on the platform. The process is straightforward, and it involves providing your personal information and verifying your identity. Once your account is verified, you can deposit funds into your account using various payment methods such as bank transfer, credit or debit card, or cryptocurrency.
To trade cryptocurrencies on Bitvestment, you can navigate to the trading platform, select the cryptocurrency you want to trade, and choose your preferred trading pair. You can then place an order, monitor your trades, and make withdrawals when necessary.
Bitvestment Fees and Charges
Bitvestment charges competitive fees for its services. The fees vary depending on the type of transaction and the trading volume. For example, for cryptocurrency purchases using a bank transfer, Bitvestment charges a fee of 1.49%. For cryptocurrency purchases using a credit or debit card, the fee is 3.99%. Trading fees on Bitvestment range from 0.10% to 0.30%, depending on the trading volume. Additionally, Bitvestment charges withdrawal fees, which vary according to the cryptocurrency being withdrawn.
Compared to other online brokers, Bitvestment's fees are relatively low, making it an attractive option for users who want to minimize their trading costs.
Bitvestment Security and Privacy
Security and privacy are essential considerations when using an online broker. Bitvestment has implemented various security measures to protect users' funds and personal information. These measures include two-factor authentication, SSL encryption, and cold storage of funds.
Bitvestment Customer Support
Bitvestment provides users with several customer support channels, including email, phone, and live chat. The platform's customer support team is responsive and helpful, and they aim to resolve any issues or queries promptly. Additionally, Bitvestment has a comprehensive knowledge base that provides answers to common questions and issues that users may encounter.
Pros and Cons of Using Bitvestment
Like any online broker, Bitvestment has its advantages and disadvantages. Some of the pros of using Bitvestment include its competitive fees, user-friendly trading platform, and high level of security. However, some of the cons of using the platform include the limited range of cryptocurrencies available for trading and the lack of advanced trading features.
Overall, Bitvestment is a legitimate and trustworthy platform that offers cryptocurrency trading services. It provides users with a user-friendly trading platform, competitive fees, and a high level of security. While it may not have as many trading features as some of its competitors, it is an excellent option for users who want a simple and secure way to buy, sell, and trade cryptocurrencies.
- What are the trading fees on Bitvestment?
Bitvestment's trading fees range from 0.10% to 0.30%, depending on the trading volume.
- How long does it take to withdraw funds from Bitvestment?
The withdrawal time on Bitvestment depends on the cryptocurrency being withdrawn. Typically, it takes between 1-3 business days for funds to be credited to a user's account.
- Is Bitvestment available for users outside of the United States?
Yes, Bitvestment is available for users outside of the United States, although there may be restrictions on certain countries.
- How does Bitvestment compare to other online brokers like Robinhood and E*TRADE?
Compared to other online brokers, Bitvestment offers competitive fees and charges and a high level of security. However, it may not have as many trading features as some of its competitors.
- What are the minimum deposit requirements on Bitvestment?
Bitvestment does not have a minimum deposit requirement.
- Does Bitvestment offer margin trading?
No, Bitvestment does not currently offer margin trading.
- Is there a mobile app for Bitvestment?
Yes, Bitvestment has a mobile app available for both iOS and Android devices.
- How does Bitvestment ensure the security of its users' funds?
Bitvestment has implemented various security measures, including two-factor authentication, SSL encryption, and cold storage of funds, to protect users' funds.
- Is Bitvestment regulated by any financial authorities?
Yes, Bitvestment is registered with the United States Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) and holds a Money Services Business (MSB) license.
- What is the customer support response time on Bitvestment?
Bitvestment's customer support team aims to respond to queries and issues promptly, typically within a few hours.