BitPremium Review – Is it Scam? – CFDs and Real Cryptos
Cryptocurrencies have become one of the most popular investment options in recent years. With their potential for high returns and decentralized nature, they offer a unique opportunity for individuals to participate in the digital economy. However, finding a reliable and trustworthy platform to buy, sell, and trade cryptocurrencies can be a daunting task. In this review, we will take a closer look at BitPremium, a leading cryptocurrency trading platform, to determine if it is a scam or a legitimate option for investors.
I. Introduction to BitPremium
A. What is BitPremium?
BitPremium is a cryptocurrency trading platform that allows users to buy, sell, and trade a wide range of cryptocurrencies. The platform aims to provide a user-friendly and secure environment for individuals to invest in digital assets. With a focus on customer satisfaction and transparency, BitPremium has quickly gained popularity among cryptocurrency enthusiasts.
B. Overview of CFDs and Real Cryptos
BitPremium offers two main trading options: CFDs (Contract for Difference) and Real Cryptos. CFD trading allows users to speculate on the price movements of cryptocurrencies without actually owning the underlying asset. This gives traders the opportunity to profit from both rising and falling markets. On the other hand, Real Cryptos trading involves the actual ownership and transfer of cryptocurrencies. This option is suitable for individuals who want to hold and use cryptocurrencies for various purposes.
II. How BitPremium Works
A. Registration and Account Setup
To start trading on BitPremium, users need to register an account on the platform. The registration process is straightforward and requires users to provide basic personal information such as name, email address, and phone number. Once the registration is complete, users can set up their trading accounts by choosing their preferred trading options and depositing funds.
B. Deposit and Withdrawal Process
BitPremium supports a variety of payment methods for depositing funds into the trading account. These include bank transfers, credit/debit cards, and popular e-wallets such as PayPal and Skrill. The platform ensures fast and secure transactions, with most deposits being credited to the user's account within minutes.
Withdrawals can be made through the same payment methods used for deposits. BitPremium aims to process withdrawal requests promptly, usually within 24 hours. However, the processing time may vary depending on the chosen payment method and the user's verification status.
C. Trading Platforms and Tools
BitPremium provides users with a range of trading platforms and tools to enhance their trading experience.
1. Web-based Platform
The web-based trading platform is accessible through any web browser and does not require any software installation. It offers a user-friendly interface with advanced charting tools, real-time market data, and a wide range of technical indicators. Traders can execute trades, monitor their positions, and access account information directly from the platform.
2. Mobile Trading App
BitPremium offers a mobile trading app for both iOS and Android devices. The app provides all the features and functionalities of the web-based platform, allowing traders to stay connected to the market and manage their trades on the go. The mobile app is highly intuitive and offers a seamless trading experience.
3. Desktop Software
For advanced traders who require more sophisticated trading tools, BitPremium offers a desktop software application. The software provides enhanced charting capabilities, customizable trading strategies, and advanced order types. It is compatible with both Windows and Mac operating systems.
D. Trading Options and Instruments
BitPremium offers a wide range of trading options and instruments to cater to the diverse needs of traders.
1. CFD Trading
CFD trading allows users to speculate on the price movements of cryptocurrencies without actually owning the underlying asset. BitPremium offers CFDs on a variety of cryptocurrencies, including Bitcoin, Ethereum, Ripple, Litecoin, and more. Traders can take advantage of leverage to amplify their potential profits, but it is important to note that leverage can also lead to increased losses.
2. Real Cryptos Trading
BitPremium also provides the option to buy, sell, and transfer actual cryptocurrencies. Users can hold and manage their digital assets directly on the platform, eliminating the need for external wallets or exchanges. This option is suitable for individuals who want to use cryptocurrencies for transactions or long-term investment purposes.
E. Leveraged Trading and Margin Requirements
BitPremium offers leveraged trading on CFDs, allowing traders to open larger positions with a smaller amount of capital. The leverage ratio determines the amount of leverage available, with higher ratios offering greater potential returns but also higher risks. It is important for traders to understand the concept of leverage and its associated risks before engaging in leveraged trading.
Margin requirements are the minimum amount of funds that traders need to maintain in their accounts to support open positions. BitPremium has a transparent margin policy and provides traders with real-time margin updates to ensure they have sufficient funds to cover their positions.
F. Risk Management Features
BitPremium offers a range of risk management features to help traders protect their capital and minimize potential losses.
1. Stop-Loss Orders
Stop-loss orders allow traders to set a predetermined price at which their positions will be automatically closed to limit potential losses. By setting a stop-loss order, traders can protect their capital even if the market moves against them.
2. Take-Profit Orders
Take-profit orders allow traders to set a target price at which their positions will be automatically closed to secure potential profits. By setting a take-profit order, traders can lock in their gains and ensure they do not miss out on profitable opportunities.
3. Trailing Stops
Trailing stops are a dynamic form of stop-loss orders that automatically adjust as the market moves in favor of the trader. Trailing stops allow traders to protect their profits while still allowing for potential upside if the market continues to move in their favor.
G. Customer Support and Assistance
BitPremium provides comprehensive customer support to assist users with any questions or issues they may encounter. The platform offers 24/7 customer support through various channels, including live chat, email, and phone. The support team consists of knowledgeable professionals who are dedicated to ensuring a smooth and pleasant trading experience for users.
III. BitPremium Security Measures
A. Regulation and Licensing
BitPremium is a regulated and licensed cryptocurrency trading platform. It complies with the necessary regulatory requirements to ensure the safety and security of its users' funds. Regulatory oversight provides users with an added layer of protection and ensures that the platform operates in a transparent and fair manner.
B. Account Security
BitPremium prioritizes the security of user accounts and implements various measures to safeguard against unauthorized access.
1. Two-Factor Authentication
BitPremium supports two-factor authentication (2FA), which adds an extra layer of security to user accounts. With 2FA enabled, users need to provide a unique verification code in addition to their password when logging in.
2. Secure Socket Layer (SSL) Encryption
BitPremium uses SSL encryption to protect user data during transmission. SSL encryption ensures that sensitive information, such as personal details and financial transactions, is encrypted and cannot be intercepted by unauthorized parties.
3. Account Verification
To ensure the integrity of user accounts, BitPremium requires users to complete a verification process. This process helps verify the identity of users and prevents fraudulent activities on the platform.
C. Fund Security
BitPremium takes extensive measures to ensure the security of user funds.
1. Segregated Accounts
User funds are kept in segregated accounts, separate from the company's operational funds. This ensures that user funds are not used for any other purposes and are available for withdrawal at any time.
2. Cold Storage of Cryptos
The majority of user cryptocurrencies are stored in offline cold wallets. Cold storage provides an extra layer of protection against hacking and unauthorized access. By keeping cryptocurrencies offline, BitPremium minimizes the risk of theft or loss due to cyberattacks.
3. Insurance Coverage
BitPremium provides insurance coverage for user funds, offering additional protection against unforeseen events. This insurance coverage helps to mitigate the risk of financial loss in the unlikely event of a security breach or insolvency.
IV. BitPremium Fees and Charges
A. Trading Fees
BitPremium charges competitive trading fees, which vary depending on the trading instrument and the type of account. The fees are generally transparent and are clearly displayed on the platform.
BitPremium charges spreads on CFD trades, which is the difference between the buy and sell prices of an asset. Spreads can vary depending on market conditions and liquidity. The platform aims to provide tight spreads to ensure that traders get the best possible prices.
2. Overnight Financing Charges
For CFD trades that are held overnight, BitPremium charges overnight financing charges. These charges are based on the size of the position and the prevailing interest rates. Traders should be aware of these charges and factor them into their trading strategies.
3. Inactivity Fees
BitPremium may charge inactivity fees for accounts that have been inactive for a certain period of time. The purpose of this fee is to encourage active trading and to cover the costs associated with maintaining inactive accounts.
B. Deposit and Withdrawal Fees
BitPremium does not charge any deposit fees for most payment methods. However, users should check with their payment provider to determine if any fees apply.
Withdrawal fees may apply depending on the chosen payment method. The fees are usually transparent and are clearly stated on the platform. Users should review the withdrawal fees before making a withdrawal request.
C. Additional Charges
BitPremium does not charge any additional hidden fees or commissions. The platform aims to provide transparent pricing and does not engage in any deceptive practices.