Exploring Bithoven and Margin Trading
Bithoven, a newcomer in the cryptocurrency exchange arena, emerged on January 14, 2019. This platform is situated in Saint Vincent and the Grenadines and hosts a broad array of over 400 cryptocurrencies. Despite its recent entry, Bithoven displays promising attributes akin to established exchange platforms. Notably, Bithoven introduces its users to the realm of margin trading, a concept that we will delve into in this comprehensive review.
Understanding Bithoven's Margin Trading
Margin trading is a sophisticated approach that enables traders to amplify their exposure by utilizing borrowed funds. Bithoven stepped into the margin trading arena in early 2019 through its web terminal, specifically MetaTrader 5. Within this framework, users can choose leverage levels between 1:3 and 1:20, all the while utilizing Bitcoin as the nominal currency. The platform facilitates both demo and live trading options, accommodating both novices and experienced traders.
The demo account serves as a playground for refining trading strategies and mastering technical analysis techniques such as trend lines, support, and resistance. MetaTrader 5 is accessible across various devices, including iOS, Android, and Windows operating systems.
To gain access to MetaTrader 5's benefits, which encompass daily withdrawals of 100BTC and beyond, users must undergo a four-step verification process involving utility bills and government-recognized documents.
Central to Bithoven's appeal is its user-friendly, multifunctional interface, accompanied by advanced built-in tools tailor-made for margin trading. As a new user, you can embark on the journey by signing up for a new margin account. Your experience garnered from demo trading can be seamlessly applied to the live account arena. Bithoven presents an impressive arsenal of 14 trading pairs, encompassing assets like ZEC/USD, ZEC/BTC, XMR/USD, XMR/BTC, ETH/USD, ETH/BTC, DASH/USD, DASH/BTC, BCH/USD, BCH/BTC, XRP/USD, EOS/USD, and BTC/USD. The platform's minimal order value rests at 0.01BTC, while the current margin call level stands at 40%. Bithoven liberates its users by eschewing maximum deposit limits for trading purposes. Moreover, the platform extends the convenience of auto trading systems to its traders.
Highlighting Bithoven's Features
Bithoven presents an array of features that set it apart:
- Leverage: The platform offers diverse leverage levels (3x, 10x, and 20x), empowering users to enhance their trading potential for optimized profitability.
- Multiplatform Trading Terminal: Bithoven's terminal caters to both smartphones (iOS and Android) and computers (Windows OS), ensuring accessibility across devices.
- Trading Robots: Users can tap into Bithoven's network of experts or employ trading robots to navigate the trading landscape.
Summing Up Bithoven's Appeal
Bithoven's margin trading services present a distinctive proposition, offering leverage levels of up to 20x for users. The platform prioritizes security, employing SSL encryption to safeguard user data. With an array of cryptocurrencies available for trading, Bitcoin serves as the nominal currency. Bithoven's commitment to support is evident through its 24/7 chat system. For traders seeking a secure platform with ample trading opportunities, Bithoven is certainly a worthy consideration.
