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Bithoven Review - is it scam or safe?

Bithoven Review - Is bithoven.com scam or good cryptocurrency exchange?

RATING: 3.6 / 1 REVIEWS ForexBrokerz Bithoven

RECOMMENDED BITCOIN BROKERS


Bithoven is a cryptocurrency exchange platform based in Saint Vincent and the Grenadines, where you can trade over 400 crypto currencies with a relatively low trading fee and an acceptable withdraw fee on a proprietary web based platform.

 

Deposit fee Withdraw fee maker fee taker fee
no fee 0.0015 BTC 0,1% 0,2%

 

Bithoven Advantages:

 

You can trade well over over 400 coins 

 

The selection of crypto coins at  Bithoven is really impressive – among others here you can trade Bitcoin, Ethereum, Ethereum Classic, Ripple, Bitcoin Cash, EOS, Litecoin, Stellar, USD Tether, TRON, Bitcoin Cash SV, First Blood, EcosBall, AML Bitcoin, The Abyss, Alphacat, Monero, Monero-Classic, NEM, Zcahs, NEO, IOTA, Litecoin, Dogecoin, Dash, Cardano, Binance Coin and many other altcoins and tokens – well over  400.

 

Nice web based trading platform

 

Bithoven offers a web based trading platform with a user friendly interface. You can see the layout here:

 

 

What we miss however are some market indicators and trading robots for automated trading sessions - features readily available with classic trading platforms like the MetaTrader4, which we have seen with some other crypto exchanges. So here you may also check our list of brokers and crypto exchanges offering MetaTrader4: 

 

 >>MT4 Brokers<<

 

Suitable for active trading 

 

Bithoven has a  maker-taker, volume-based tiering. The taker fee is 0,20% and that is in line with what most other exchanges charge, while the maker fee is 0,10%. That makes Bithoven suitable for active trading. The usual trade commission at most exchanges is around 0.20% to 0.25% 

 

Acceptable withdraw fees

 

Bithoven does not charge deposit fees, and the withdraw fees are acceptable, although they slightly vary depending on the coin - 0.0015 BTC, 0.0428 ETH, 6.38 XRP, 20 USDT.

 

Bithoven Disadvantages:

 

Not regulated 

 

The crypto market in general is still largely unregulated, and that is the reason most crypto exchanges to operate without a license. Bithoven is not an exception – it is owned by Fortis Ltd., a company based offshore on Saint Vincent and the Grenadines.

 

Still, if you want to trade crypto assets and enjoy the security of trading with a regulated broker, you can always check our list of brokers offering bitcoin CFDs:

 

>>Bitcoin Forex Brokers<<

 

Trading crypto CFDs however means that you do not own the underlining asset, but just take a contract for difference.

 

Fiat currencies not accepted

 

Bithoven is not an entry level crypto exchange, so you can not buy coins with fiat currencies – some may say that is disadvantage.

 

No leverage 

 

Although some crypto exchanges and certainly all CFD brokers, who trade crypto assets, offer some leverage, because of the market model of the exchange – Bithoven just facilitates trades between users – you do no have the option for high margin trading.

 

Conclusion:

 

Bithoven is a newly founded crypto currency exchange, which facilitates trade with a good variety of alt coins and tokens with low trade commission and acceptable withdraw fees. As most crypto exchanges however, Bithoven is not authorized by an official financial regulator such as the Financial Conduct Authrity in the UK, the Cyprus Securities and Exchange Commission (CySEC) or the Australian Securities and Investments Commission (ASIC). So if you want to enjoy the security of trading with a regulated broker, where your funds will be insured for up to 50 000 GBP, you can always look at our list of FCA regulated forex and CFD brokers:

>>FCA Regulated Forex Brokers<<

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