Bithoven is a new cryptocurrency exchange launched on January 14 2019, and based in Saint Vincent and the Grenadines. It is a trading platform with over 400 cryptocurrencies. Although it is a relatively new exchange, Bithoven has potential features of a standard exchange platform. Bithoven allows its users to engage in margin trading. What is Margin Trading? How does it work? This review details all you need to know about margin trading on Bithoven.
About Bithoven Margin Trading
Early 2019, Bithoven launched its margin trading services on a web terminal, i.e., MetaTrader 5. It allows users to trade and choose a leverage level between 1:3 & 1:20 using Bitcoin as its nominal currency. It offers a demo and live platform for new and experienced users. With the demo account, you can improve your trading strategies, learn technical analysis, i.e., use of trend lines, support and resistance, etc. MetaTrader5 is available for different devices, i.e., iOS, Android and Windows operating systems.
To access the MetaTrader5 and enjoy perks like 100BTC and above daily withdrawal, you need to undergo a 4-step verification with your utility bill and government-recognized documents.
Bithoven provides users with a user-friendly, multifunctional interface and advanced inbuilt tools for Margin trading. As a new user, you can sign up for a new margin account here. You can apply all the experience garnered from demo trading on a live account. Bithoven provides 14 trading tools which includes 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. Its minimal order value is 0.01BTC while its margin call level is presently at 40%. There are no maximum deposit limits for trading. The exchange also allows its users to trade with auto trading systems.
The following are features associated with Bithoven trading platform;
- Leverage: It offers various leverage levels for its users, thus allowing them to enhance their trading potentials for maximum profits. Available leverage levels include 3x, 10x, and 20x.
- Multiplatform Trading Terminal: It is available on both smartphones, i.e., iOS and Android, and Computers, i.e., Windows OS.
- Trading Robots: Bithoven allows users to contact experts or use robots for trading.
Bithoven's margin trading services is one of a kind as it offers up to 20x leverage level for its users. It is a secure exchange with SSL encryption. Users can trade several crypto assets with Bitcoin as the nominal currency. You also have access to a 24/7 chat support system.
- Leverage Trades: Bithoven offers leveraged trades (between 3x - 20x) for its customers. Therefore, if you’re looking to increase your leverage level in trading, Bithoven is a good option.
- 24/7 Customer Support: It has a live chat feature which attends to customer needs. You can also open a support ticket here or email [email protected]
- It has a wide range of cryptocurrencies. Bithoven provides support for over 400 crypto assets.
- While some exchange charge high, Bithoven charges low fees for trading on its platform. Averagely, every transaction has a trading fee of 0.2% of the order value. Also, its withdrawal fees are very affordable. Check fee structure for trades here. Therefore, considering this, Bithoven is an excellent choice for Margin Trading.
- Age & Experience: Bithoven is a new exchange released on January 14, 2019. Therefore, it is relativity young compared to other top exchange platforms.