Bitvestment Review – Is it Scam? – CFDs and Real Cryptos
In the world of cryptocurrency trading, it is crucial to find a reliable and trustworthy platform that can provide a seamless trading experience. With the increasing popularity of cryptocurrencies, numerous trading platforms have emerged, each claiming to be the best. In this article, we will be reviewing Bitvestment, a platform that offers both CFDs (Contract for Difference) and real cryptocurrencies. We will delve into its features, trading process, legitimacy, security measures, fees, customer support, and user experiences. By the end of this article, you will have a comprehensive understanding of Bitvestment and whether it is a suitable platform for your cryptocurrency trading needs.
What is Bitvestment?
Bitvestment is an online trading platform that allows users to trade a variety of cryptocurrencies through CFDs or by purchasing and owning the real cryptocurrencies themselves. The platform offers a user-friendly interface, advanced trading tools, and competitive spreads to cater to both beginner and experienced traders. Bitvestment aims to provide a secure and efficient trading environment for users to capitalize on the volatility of the cryptocurrency market.
How Does Bitvestment Work?
To start trading on Bitvestment, users need to create an account and complete the verification process. Once the account is set up, users can deposit funds into their Bitvestment wallet using various payment methods, including credit/debit cards, bank transfers, and cryptocurrencies. The deposited funds can then be used to trade CFDs or purchase real cryptocurrencies.
When trading CFDs on Bitvestment, users do not own the underlying asset but instead speculate on its price movements. This allows users to profit from both rising and falling markets. The platform provides access to a wide range of cryptocurrency CFDs, including Bitcoin, Ethereum, Ripple, and more. Users can take advantage of leverage to amplify their trading positions, but it is important to note that leverage can also increase the potential losses.
For users who prefer to own the real cryptocurrencies, Bitvestment offers a simple and secure way to purchase and store them. Users can buy cryptocurrencies directly from the platform and store them in their Bitvestment wallet. This gives users full ownership of the cryptocurrencies, allowing them to transfer, sell, or use them as they wish.
CFDs, or Contracts for Difference, are financial derivatives that allow traders to speculate on the price movements of various assets, including cryptocurrencies. When trading CFDs, traders do not own the underlying asset but instead enter into a contract with a broker to exchange the difference in the asset's price between the opening and closing of the contract.
One of the main advantages of trading CFDs is the ability to profit from both rising and falling markets. Traders can go long (buy) or short (sell) on an asset, depending on their market prediction. This flexibility allows traders to take advantage of the volatility of the cryptocurrency market and potentially generate profits in any market condition.
However, trading CFDs also comes with certain risks. The leverage offered by CFD trading can amplify both profits and losses. If the market moves against a trader's position, they may incur significant losses that exceed their initial investment. It is important for traders to carefully manage their risk and use appropriate risk management strategies, such as setting stop-loss orders and limiting their leverage.
Real Cryptos vs CFDs
When it comes to trading cryptocurrencies, users have the option to trade CFDs or purchase and own the real cryptocurrencies themselves. Each approach has its own set of pros and cons.
Trading CFDs offers several advantages, including:
- Flexibility: CFDs allow traders to profit from both rising and falling markets, enabling them to capitalize on the volatility of the cryptocurrency market.
- Leverage: CFD trading typically offers leverage, allowing traders to control larger positions with a smaller initial investment. This can potentially amplify profits.
- Lower costs: Trading CFDs often involves lower transaction costs compared to purchasing and owning real cryptocurrencies.
However, there are also disadvantages to trading CFDs:
- No ownership: When trading CFDs, users do not own the underlying asset. They are simply speculating on its price movements. Some traders prefer to own the real cryptocurrencies for long-term investment purposes.
- Counterparty risk: Trading CFDs involves entering into a contract with a broker. There is a risk that the broker may default on their obligations, leading to potential losses for the trader.
- Limited market access: CFD trading may not offer the same level of market access as trading real cryptocurrencies. Some exchanges may not offer certain cryptocurrencies or have restrictions on trading.
On the other hand, purchasing and owning real cryptocurrencies offers the following advantages:
- Ownership: Owning the real cryptocurrencies gives users full control and ownership of the assets. They can transfer, sell, or use the cryptocurrencies as they wish.
- Long-term investment: Some users prefer to hold cryptocurrencies as a long-term investment, believing in their potential future value.
- Market access: Owning real cryptocurrencies allows users to access a wide range of exchanges and trading platforms, giving them more options for trading and liquidity.
However, there are also drawbacks to owning real cryptocurrencies:
- Volatility: The cryptocurrency market is known for its high volatility. Prices can fluctuate significantly, potentially leading to substantial gains or losses.
- Security concerns: Storing and securing cryptocurrencies can be challenging, as they are susceptible to hacking and theft. Users need to take appropriate security measures to protect their funds.
- Higher costs: Purchasing and owning real cryptocurrencies may involve higher transaction costs compared to trading CFDs.
Ultimately, the choice between trading CFDs or owning real cryptocurrencies depends on individual preferences, risk tolerance, and investment goals.
Is Bitvestment Legitimate?
As with any online trading platform, it is important to research and verify the legitimacy of Bitvestment before depositing funds and trading. There have been concerns and rumors regarding the legitimacy of Bitvestment. However, it is crucial to conduct thorough research and rely on credible sources to make an informed decision.
To determine the legitimacy of Bitvestment, consider the following:
- Regulation: Check if Bitvestment is regulated by a reputable financial authority. Regulation provides a level of oversight and protection for users, ensuring that the platform operates in compliance with established standards and regulations.
- Company information: Look for information about the company behind Bitvestment, such as its history, team members, and partnerships. A transparent and reputable company will provide these details on their website or through other reliable sources.
- User reviews: Read user reviews and experiences with Bitvestment to get an idea of the platform's reputation. Look for reviews from multiple sources to get a balanced perspective. Keep in mind that some reviews may be biased or manipulated, so exercise caution and look for patterns in the feedback.
- Security measures: Assess the security measures implemented by Bitvestment to protect user funds and personal information. Look for features such as two-factor authentication, encryption, and cold storage for cryptocurrencies.
- Customer support: Evaluate the customer support options provided by Bitvestment. A legitimate platform will have responsive customer support to assist users with their queries and concerns.
By conducting thorough research and due diligence, you can make an informed decision about the legitimacy of Bitvestment and whether it is a suitable platform for your cryptocurrency trading needs.
Bitvestment Security and Safety
Bitvestment takes security and user safety seriously. The platform implements several security measures to protect user funds and personal information.
- Two-factor authentication (2FA): Bitvestment offers the option to enable 2FA, adding an extra layer of security to user accounts. With 2FA enabled, users need to provide a verification code generated by an authentication app or received via SMS in addition to their password when logging in.
- Secure socket layer (SSL) encryption: Bitvestment utilizes SSL encryption to secure user data transmission on the platform. This encryption ensures that sensitive information, such as login credentials and financial details, is protected from unauthorized access.
- Cold storage for cryptocurrencies: Bitvestment stores the majority of user funds in offline cold storage wallets. Cold storage wallets are not connected to the internet, making them less vulnerable to hacking attempts.
- Account verification: To ensure the security of user accounts, Bitvestment requires users to complete a verification process. This process may involve providing identification documents and proof of address to comply with anti-money laundering (AML) and know your customer (KYC) regulations.
- Ongoing monitoring: Bitvestment continuously monitors its platform for any suspicious activities or potential security breaches. This proactive approach helps to identify and mitigate any security risks promptly.
To enhance the security of your Bitvestment account, follow these user safety tips:
- Use a strong and unique password: Create a password that is difficult to guess and avoid using the same password for multiple accounts. Consider using a password manager to securely store and generate unique passwords.
- Enable two-factor authentication: Enable 2FA on your Bitvestment account to add an extra layer of security. This will require you to provide a verification code in addition to your password when logging in.
- Keep your devices and software up to date: Regularly update your devices and software, including operating systems, web browsers, and antivirus programs. Updates often include security patches that protect against known vulnerabilities.
- Be cautious of phishing attempts: Be vigilant of phishing attempts, where attackers impersonate legitimate entities to trick users into revealing their login credentials or personal information. Always double-check the URL of the Bitvestment website before entering any sensitive information.
- Withdraw funds to a secure wallet: If you decide to purchase and own real cryptocurrencies on Bitvestment, consider withdrawing them to a secure hardware wallet. Hardware wallets provide an additional layer of security by storing the private keys offline.
By following these security measures and best practices, you can enhance