With an increase in demand for cryptocurrency, there has been a surge in the number of crypto exchange platforms. However, not many exchange platforms are able to withstand the intense competition as they are unable to carve a niche for themselves.
Bithoven proved to be a game changer as it came loaded with a lot of new and exciting features which garnered a lot of positive acclaim from critics and audiences alike. Let us break down the various features of Bithoven, and understand how well does it fare.
Bithoven: An Introduction
Bithoven is one of the best cryptocurrency exchange platforms as it offers an easy to use interface, better security features, and helpful trading tools. It has managed to garner a reputation for itself despite being a recent entrant in the cryptocurrency domain.
It also has a robust mechanism for customer support which adds to the ease of buying and selling cryptocurrencies and altcoins. The user experience is further enriched by its exemplary uptime, and also features like fault tolerance which can help a trader maximize his profits.
Getting Started With Bithoven
Like most of the crypto exchange platforms, you first need to sign up for an account with basic information like email and password. You don’t have to be concerned about providing identity docs or popularly known as the KYC process if your daily withdrawals are within 2 BTC. In case you wish to increase the daily withdrawal limit to 100 BTC, then you will have to complete the KYC Process. The process is fairly simple and easy to follow.
One of the best things about using Bithoven is that it does not put a limit on the number of deposits or withdrawals that a trader can make in a day. This feature is quite beneficial for traders indulging in high volume trades as most crypto exchange platforms put an upper cap on your transactions, which means you cannot exceed a certain fixed number of deposits or withdrawals.
So, when on Bithoven, you can simply deposit any amount of cryptocurrency into your Bithoven account from your personal cryptocurrency wallet.
Once you make an initial deposit and get a confirmation, you can then begin trading. Your trading experience is further enhanced by various trading tools available on the platform like Candlestick chart, market overview and order book amongst others. The platform also boasts of a variety of order types for a different type of users like market orders, scaled order and limit orders.
The interface is quite simple and easy to use. You can manage your transactions through the Balances page. The page consists of your account balance, that is the number of different cryptocurrencies available in your account, the deposit and the withdraw funds options.
The history page contains detailed information about your current and previous transactions. If you wish to get a summary of your trading activities, you can simply visit the trading section.
Bithoven charges a commission of 0.2% of the trade value, which is quite similar to the current rates of various crypto exchanges.
Key Features of Bithoven Exchange
1) Better Security
Apart from storing your data in an encrypted format, the exchange also uses a 2-step process to verify the authenticity of the person making a transaction on the platform. This process is called 2FA (Two Factor Authentication) and helps boost the security significantly, providing a safer and more secure environment for trading.
2) More Liquidity
Being one of the platforms with no upper limit on the transactions, it is bound to attract a large number of investors, which will allow the highest level of liquidity.
3) Faster Processing Time
The architecture of the platform is designed in a manner which allows near to zero wait times for any order. Equipped with superior technology and better infrastructure, you can experience faster transactions and a higher rate of trade.
4) Full Compatibility
The exchange platform is available on most operating platforms and easily accessible from all major operating systems and mobile devices. This means that you can simply access your account whenever you want to at the tip of your finger.
5) Customer Support
Bithoven features one of the best customer support services among all exchange platforms, as it offers round-the-clock assistance. There are two ways in which you can access customer support, live chat or the contact form. The live chat is amazing to use as you can easily get a response within 2-3 minutes of putting a query.
With the online contact form, you can put a detailed message about any underlying issue that does not require immediate attention. Generally, you can get a response within 8 hours of submitting the form.
If you do not wish to contact their support team, you can simply read their exhaustive list of FAQs which contains a list of the most common issues that you might face while using the platform.
6) Available Coins
You can trade a large number of different cryptocurrencies like BTC, ETH, LTC, BCC, OMG, IOTA, ICN, MCO, SALT, KNC, etc. It provides users an option to trade more than 350 altcoins from a single trading account. The platform is also working to add new coins as we speak. In addition to this, there are 858 trading pairs which adds to the versatility of the platform.
Bithoven Review: The Verdict
Bithoven is one of the most transparent exchange platforms which does not levy any hidden charges and keeps the commission fixed at 0.1%. Being backed by a strong team of professionals working in the cryptocurrency domain, you are guaranteed to find the platform highly curated as it features some of the most advanced algorithms which help you avoid market volatilities and get the best deals always.
It is currently running a promotional campaign on its platform, wherein every new user who registers gets a chance to receive 100 DOGE coins, and even allows you to withdraw the amount as soon as your account contains any balance which exceeds the initial threshold of 100 DOGE.
One of the downsides of using Bithoven is the fact that it does not allow fiat deposits. This may repel a certain class of traders who find fiat deposits useful. Setting aside this aspect, Bithoven seems to have set its course right and is on its way to provide some serious competition to existing platforms.
Jacob is the master-mind behind BitCongress. Over the years he has dug into the world of bitcoin and cryptocurrency and really nerded down on all the products and services. Beyond sitting in front of the computer and absorbing information on crypto, he really likes to play Zelda.