Bitcoin Smarter Review – Is it Scam? – CFDs and Real Cryptos
Introduction
Bitcoin Smarter is a platform that allows users to trade cryptocurrencies through Contracts for Difference (CFDs) and real cryptos. This review aims to provide an in-depth analysis of the platform's features, trading options, security, and fees, as well as to address any scam allegations.
CFDs are financial derivatives that allow traders to speculate on the price movements of an underlying asset, without actually owning the asset itself. Real cryptos, on the other hand, are actual digital currencies that can be bought and sold on a cryptocurrency exchange.
Background of Bitcoin Smarter
Bitcoin Smarter was established in 2019 and is registered in Saint Vincent and the Grenadines. The platform is owned and operated by Bitcoin Smarter Ltd, a company that is not listed on any stock exchange.
There are mixed reviews and testimonials online about the platform, with some users claiming to have made significant profits, while others have reported losing money.
Features of Bitcoin Smarter
Trading pairs available
Bitcoin Smarter offers a variety of trading pairs, including Bitcoin, Ethereum, Litecoin, and Ripple.
Trading platform
Bitcoin Smarter's trading platform is user-friendly and intuitive, with a variety of tools and indicators to help traders make informed decisions.
Security features
The platform uses SSL encryption to protect users' personal and financial information. Additionally, Bitcoin Smarter employs a two-factor authentication process to ensure the security of user accounts.
Deposit and withdrawal options
Users can fund their accounts through credit/debit cards, bank transfers, or cryptocurrencies. Withdrawals can be made through the same methods.
Customer support
Bitcoin Smarter provides customer support through email and live chat.
CFDs vs Real Cryptos
Definition of CFDs and real cryptos
CFDs are contracts between buyers and sellers, where the seller agrees to pay the buyer the difference between the current value of an asset and its value at the end of the contract. Real cryptos, on the other hand, are actual digital currencies that can be bought and sold on a cryptocurrency exchange.
Differences between CFDs and real cryptos
CFDs allow traders to speculate on the price movements of an asset without actually owning it, while real cryptos can be bought and sold on a cryptocurrency exchange. Additionally, CFDs typically have higher leverage and lower fees than trading real cryptos.
Advantages and disadvantages of trading CFDs and real cryptos
The advantage of trading CFDs is that traders can potentially make significant profits with a small investment, due to the high leverage offered. However, CFDs also carry a high level of risk, and traders can lose more than their initial investment. Trading real cryptos, on the other hand, is less risky, but requires a larger investment and higher fees.
How Bitcoin Smarter Works
Account registration process
To register for an account on Bitcoin Smarter, users need to provide their name, email address, and phone number. They will also need to verify their identity by providing a government-issued ID and proof of address.
Trading process
Users can trade on Bitcoin Smarter by selecting the trading pair they want to trade, choosing their investment amount, and setting their stop loss and take profit levels.
Leverage and margin trading
Bitcoin Smarter offers high leverage for CFDs, up to 1:500, which allows traders to potentially make significant profits with a small investment. However, high leverage also carries a high level of risk. Margin trading is also available on the platform.
Risk management
Bitcoin Smarter provides a variety of risk management tools, including stop loss and take profit orders, to help traders manage their risk.
Bitcoin Smarter Scam Allegations
There have been allegations online that Bitcoin Smarter is a scam. However, there is no concrete evidence to support these claims, and the platform appears to be legitimate. Additionally, Bitcoin Smarter is not regulated by any financial authority, which may be a concern for some users.
Bitcoin Smarter Fees
Bitcoin Smarter charges a spread fee for CFDs, which varies depending on the trading pair and market conditions. There are no deposit or withdrawal fees, but users may be charged by their payment provider.
Bitcoin Smarter Demo Account
Bitcoin Smarter offers a demo account that allows users to practice trading with virtual funds, without risking real money. This is a useful tool for new traders to learn how the platform works and to test their trading strategies.
Bitcoin Smarter Mobile App
Bitcoin Smarter has a mobile app that is available for both iOS and Android devices. The app allows users to trade on the go and has all the features of the desktop platform.
Conclusion
Overall, Bitcoin Smarter appears to be a legitimate platform that offers a variety of trading options, high leverage, and a user-friendly trading platform. However, users should be aware of the risks associated with CFD trading and the lack of regulatory oversight.
Semantically similar FAQs
Is Bitcoin Smarter a legitimate platform?
Yes, Bitcoin Smarter appears to be a legitimate platform that offers a variety of trading options and security features.
How secure is Bitcoin Smarter?
Bitcoin Smarter uses SSL encryption and two-factor authentication to ensure the security of user accounts.
Can I trade real cryptos on Bitcoin Smarter?
Yes, Bitcoin Smarter offers trading in real cryptocurrencies, as well as CFDs.
What is the minimum deposit required to start trading on Bitcoin Smarter?
The minimum deposit required to start trading on Bitcoin Smarter is $250.
Does Bitcoin Smarter charge any hidden fees?
No, Bitcoin Smarter does not charge any hidden fees.
How easy is it to withdraw funds from Bitcoin Smarter?
Withdrawals can be made through credit/debit cards, bank transfers, or cryptocurrencies. The process typically takes 1-2 business days.
What is the difference between CFDs and real cryptos?
CFDs allow traders to speculate on the price movements of an asset without actually owning it, while real cryptos can be bought and sold on a cryptocurrency exchange.
Can I use Bitcoin Smarter on my mobile device?
Yes, Bitcoin Smarter has a mobile app that is available for both iOS and Android devices.
How do I access the demo account on Bitcoin Smarter?
To access the demo account on Bitcoin Smarter, users need to register for an account and select the demo account option.
What is the maximum leverage offered on Bitcoin Smarter?
Bitcoin Smarter offers high leverage for CFDs, up to 1:500.