Bitcoin Smarter Review – Is it a Scam? – CFDs and Real Cryptos
Introduction
Bitcoin Smarter is a trading platform that allows users to trade cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. The platform offers both CFDs (Contracts for Difference) and real cryptocurrencies, giving users the option to choose their preferred method of trading. In this review, we will take a closer look at Bitcoin Smarter to determine if it is a trustworthy platform to trade cryptocurrencies.
Background Information
Bitcoin Smarter was founded in 2018 and is based in St. Vincent and the Grenadines. The company is owned and operated by Wallfort Limited, which is registered in Belize. Bitcoin Smarter is not regulated by any financial authority, which may be a concern for some users. However, the platform claims to have strict security measures in place to protect users' funds.
User reviews of Bitcoin Smarter are mixed, with some users reporting positive experiences and others reporting issues with the platform's customer support and withdrawal process.
Bitcoin Smarter Features
Bitcoin Smarter offers a user-friendly trading platform that is suitable for both beginner and advanced traders. The platform offers a variety of trading tools, including technical analysis charts, risk management tools, and stop-loss orders. Bitcoin Smarter also offers a demo account for users who want to practice trading before risking real money.
The platform offers three account types: Basic, Silver, and Gold. Each account type offers different features and benefits, including higher deposit limits, access to more trading tools, and lower fees.
Pros and Cons
Advantages of Bitcoin Smarter
- User-friendly trading platform
- Offers both CFDs and real cryptocurrencies
- Demo account available for practice trading
- Three different account types to choose from
- Low minimum deposit requirement
Disadvantages of Bitcoin Smarter
- Not regulated by any financial authority
- Mixed user reviews
- Limited customer support options
- Limited selection of cryptocurrencies available for trading
Trading with CFDs
CFDs, or Contracts for Difference, are financial derivatives that allow users to speculate on the price movement of an underlying asset, such as a cryptocurrency. When trading with CFDs, users do not own the underlying asset but instead speculate on whether the price will go up or down. CFDs offer several benefits, including leverage, the ability to short sell, and the ability to trade with smaller amounts of capital.
However, trading with CFDs also comes with risks, including the risk of losing more than your initial investment and the risk of price manipulation.
Real Cryptos Trading
Trading with real cryptocurrencies involves buying and selling actual cryptocurrencies, such as Bitcoin, Ethereum, and Litecoin. When trading with real cryptocurrencies, users own the underlying asset and can store it in a personal wallet. Real cryptocurrencies offer several benefits, including ownership and the ability to use the cryptocurrency for transactions.
However, trading with real cryptocurrencies also comes with risks, including the risk of price volatility and the risk of hacking or theft.
Security
Bitcoin Smarter claims to have strict security measures in place to protect users' funds, including SSL encryption and two-factor authentication. However, online trading always comes with inherent risks, including the risk of hacking or theft. It is important for users to take their own security measures, such as using a strong password and keeping their account information confidential.
Fees
Bitcoin Smarter charges various fees for trading and account maintenance, including spreads, overnight fees, and withdrawal fees. The fees charged by Bitcoin Smarter are comparable to other trading platforms, although some users may find the fees to be higher than expected.
Customer Support
Bitcoin Smarter offers customer support via email and live chat. However, some users have reported issues with the quality of customer support, including slow response times and unhelpful representatives.
Conclusion
Overall, Bitcoin Smarter offers a user-friendly trading platform that is suitable for both beginner and advanced traders. However, the platform's lack of regulation and mixed user reviews may be a concern for some users. It is important for users to carefully consider the risks and benefits of trading with CFDs and real cryptocurrencies before using the platform.
FAQs
What is Bitcoin Smarter?
Bitcoin Smarter is a trading platform that allows users to trade cryptocurrencies, including Bitcoin, Ethereum, and Litecoin.
Is Bitcoin Smarter a scam?
There is no evidence to suggest that Bitcoin Smarter is a scam. However, the platform is not regulated by any financial authority, which may be a concern for some users.
What are CFDs?
CFDs, or Contracts for Difference, are financial derivatives that allow users to speculate on the price movement of an underlying asset, such as a cryptocurrency.
What are real cryptos?
Real cryptocurrencies are actual cryptocurrencies, such as Bitcoin, Ethereum, and Litecoin, that users can buy and sell.
What are the risks of trading with CFDs?
The risks of trading with CFDs include the risk of losing more than your initial investment and the risk of price manipulation.
What are the risks of trading with real cryptos?
The risks of trading with real cryptocurrencies include the risk of price volatility and the risk of hacking or theft.
How secure is Bitcoin Smarter?
Bitcoin Smarter claims to have strict security measures in place to protect users' funds, including SSL encryption and two-factor authentication. However, online trading always comes with inherent risks, including the risk of hacking or theft.
What fees does Bitcoin Smarter charge?
Bitcoin Smarter charges various fees for trading and account maintenance, including spreads, overnight fees, and withdrawal fees.
How can I contact Bitcoin Smarter customer support?
Bitcoin Smarter offers customer support via email and live chat.
Is Bitcoin Smarter regulated?
No, Bitcoin Smarter is not regulated by any financial authority.