Bitexlive Review – Is Bitexlive Scam or Legit?
Bitexlive Review
The cryptocurrency market has come a long way since its inception. The advent of Bitcoin has revolutionized the financial world changing the way we carry out businesses and pay for various transactions and services. And apart from Bitcoin greatly influencing how we do business, it has also come to be a source of investment opportunity to various investors and traders in the financial market.
The advent of Bitcoin paved the way for so many other digital coins (altcoins) which brought about the establishment of a new market within the financial market; the cryptocurrency market. The cryptocurrency market has since then witnessed incredible growth becoming a giant market in the industry.
On Monday, 15th of February 2021, the cryptocurrency market reached an all-time high in market cap of $1.5 trillion stamping the dominance of cryptocurrencies in the financial market. This is enough evidence that the cryptocurrency market holds lots of vast opportunities and potential gains for investors looking to join the bandwagon. In fact, these opportunities that present themselves in the cryptocurrency market are so alluring that exchange platforms are now recording a high influx of new investors every day.
It is important that investors don’t get lost in the euphoria of being exposed to various financial opportunities in the cryptocurrency market. This is because the crypto market comes with its own risks most especially due to its high volatility. As a result, we recommend that investors do the necessary research before deciding to invest in the cryptocurrency market and not be carried away with the fear of missing out.
As a new investor looking to make your mark in the cryptocurrency market, the step you must take in doing that is to sign up with a crypto exchange platform. Cryptocurrency exchange platforms are portals into the crypto market and as such, investors cannot have access to trade various digital coins without their involvement. This is why it is mandatory for every trader and investor to choose an exchange platform to make as their trading partner in the crypto market.
However, choosing a decent exchange platform in the cryptocurrency market today is no longer child’s play. The cryptocurrency market is now filled with numerous exchange platforms making it quite difficult for investors to identify decent exchange platforms from scams as many of these exchanges (scams inclusive) promise to offer the best services which are not always so. And investors unlucky enough to fall prey to scam exchanges get to lose their investment funds.
For this reason, investors must be ready to do their homework to evaluate different attributes of various exchange platforms to be able to make an informed decision on which platform to opt for. However, this research can get to be sometimes frustrating and daunting given the number of exchange platforms to consider. But that is why we are here and we will be giving you a helping hand in making reviews about various exchange platforms in the crypto industry. The Bitexlive exchange platform is a good example of decent exchange platforms investors can look to partner with within the crypto market. This is the Bitexlive review.
We will be focusing on the overall operations, attributes, and services the exchange platform is offering its clients all over the world. Let’s kick right off
Exchange Platform | Bitexlive |
Website | https://bitexlive.com |
Trading platform | Web-based platform |
Commission | 0.20% |
Payment method | Bank Wire Transfer |
Trading assets | Ethereum, Chainlink, Bitcoin, Litecoin, and so on |
Security | Two-Factor Authentication (2FA), Transport Layer Security, and Cold storage |
The Bitexlive cryptocurrency exchange platform was established by Halil Beydilli in the year 2018 having its headquarters located in Turkey. Bitexlive is a digital asset exchange that enables its clients to buy and sell various cryptocurrencies in the crypto market with other clients.
The Bitexlive exchange platform is well equipped at providing the necessary trading assistance to traders all over the world by putting in place a well-experienced team of professionals to support traders and investors while making use of a highly intuitive trading platform to give its clients the best possible trading experience. Let’s have a closer look at the benefits and features Bitexlive offers its clients.
Security Protocol
Online trading remains dangerous as security concerns over the safety of investments and sensitive personal information of investors and traders remain unsolved. Many crypto exchange platforms still find it difficult to guarantee the safety of investments and the personal formation of traders. However, that’s not the case with Bitexlive.
The Bitexlive exchange platform is known to provide one of the latest and advanced security systems investors can get in the crypto market. And from the research we carried out, we can confirm that to be very true. The exchange platform puts in place Two-Factor authentication (2FA), Transport Layer Security, and Cold storage to secure its clients’ investments.
Two-Factor Authentication (2FA)
The 2FA technology is integrated into the Bitexlive security system to secure vital trading activities such as change of password, logins, and withdrawals. The 2FA offers additional security by preventing third parties’ login without the authorization of the account holder.
Cold Storage with multi-signature technologies
About 99% of the total digital assets deposited into the Bitexlive exchange platform are kept in cold wallets while the remaining 1% are left in secured hot wallets for the daily trading activities of investors and traders.
Cold wallets are primarily stored offline in safe locations and will require manual authorization by designated top officials from the exchange platform to have access to the cold wallets. Furthermore, these cold wallets can’t just be moved as specific requirements have to be met before such movement is approved.
Bitexlive further made sure that these cold wallets are stored in bank-grade vaults that offer consistent monitoring and proper security.
Transport Layer Security (TLS)
Transport Layer Security (TLS) is a predecessor of the Secure Sockets Layer (SSL). Although old, TLS is still quite capable of providing communications security in a network of computer systems. With TLS integrated into the security system of Bitexlive, data and privacy integrity on the exchange platform are guaranteed. Therefore all information submitted on the exchange platform by clients on the Bitexlive website is safe and inaccessible to third parties.
Trading Platform
All cryptocurrency exchange platforms make available for their clients, a trading platform that is used to carry out various trading activities. However, these trading platforms differ from one exchange to the next in terms of ease of use, interface employed, customization, and so on. Hence, there isn’t the “right” trading platform as investors have to choose specific ones that they are most comfortable with and that suit their trading style.
The trading platforms offered by most crypto exchanges normally come with price charts of various digital coins, sell and buy-boxes, order history, and an order book (at least part of it). So before you choose an exchange platform, make sure to evaluate the trading platform and ensure that it suits your trading style before signing up.
Although, as much as trading platforms differ from one another, there are basic features that are expected from a decent trading platform, and this includes ease of navigation, a user-friendly interface, and being able to provide a good trading experience.
Commissions And Fees
Investors and traders will always put into consideration the fees and commissions charged on withdrawals and trading activities before signing up with an exchange platform. This is because no investor is ready to pay more than necessary to get the job done in the crypto market. As a result of this, exchange platforms with high fees and commissions are always avoided by investors.
Exchange platforms charging various commissions and fees in the crypto industry is quite normal as this is how they also make their profits to keep business running. As mentioned earlier, fees and commissions charged by exchange platforms are divided into two; Withdrawal fee and Trading fee.
When it comes to the Bitexlive exchange platform, the fees charged on withdrawals, deposits, and execution of trades are quite lower than the average in the industry even at a global scale.
Trading Fees
A trading fee is charged on every trade executed by an investor. The trading fee is a specific percentage of the total value of all trades executed. A lot of exchange platforms divide their trading fee into two; the taker’s fee and the maker’s fee.
Both trading fees, depending on the exchange platform can be charged either at a flat rate or using specific percentages. As for the Bitexlive exchange platform, it charges a flat rate of 0.20% on each trade which is quite lower than the industry’s global average which is roughly 0.25%.
Furthermore, the Bitexlive exchange platform seems to waver trading fees on DOGE, USDT, BTC, and ETH transactions. However, there’s no solid confirmation from the exchange platform as regards this.
Withdrawal Fee
Apart from the trading fees, exchange platforms also charge commissions on withdrawals. The withdrawal fee could be fixed, in percentage or a combination of both depending on the exchange platform.
The Bitexlive exchange platform charges a fixed rate of 0.0005BTC on every BTC withdrawal which is a little below the industry’s global average of about 0.0006BTC.
In summary, the Bitexlive exchange platform offers quite a competitive offering in terms of fees and commission charged.
Deposit And Withdrawal
Generally investing requires initial capital to be put forward so that it can yield high returns. Without this initial capital, the idea of investment is forfeited. This is exactly what applies in the cryptocurrency market.
Exchange platforms require an initial capital investment to be deposited into a trading account right after registration. Without this initial deposit, investors can’t have access to trade and yield profit in the cryptocurrency market.
On the investor’s side, withdrawals take as much importance as the deposit of funds as they want to be assured that they would get their returns easily without any inconvenience.
As a result of this, crypto exchange platforms are now expected to provide decent methods of payments for both withdrawals and deposits of funds that are secure, simple, and straightforward for investors to utilize.
As for the Bitexlive exchange platform, it comes short in providing several payment method options for its clients thereby greatly limiting flexibility as regards withdrawal and deposits. The exchange platform offers just one payment method option which is the Bank Wire Transfer, however, investors can’t deposit using credit cards.
Furthermore, the wire transfer is only applicable for TRY-deposits. For investors looking to make use of credit cards or fiat deposits, they will need to have to buy cryptocurrency from another exchange before transferring to the Bitexlive trading account.
Customer Support
Every investor (most especially newbie investors) in the cryptocurrency market needs all the support and assistance they can get. As much as trading itself is a difficult task, unexpected circumstances such as issues with the server, slow trade execution, and so on do spring up in the course of trading. And in moments like this, reaching out to customer support becomes necessary.
The Bitexlive exchange platform understands how important customer support is and has established a team of professional support agents to attend to various needs, requests, and complaints of clients. These support agents are available 24 hours each day and 7 times a week. Clients can get in touch with a support agent through various support channels like email and calls. Necessary contact information is made available on their website.
Final Thoughts
The Bitexlive exchange platform has made cryptocurrency trading easier and straightforward by providing an incredible trading atmosphere coupled with a user-friendly exchange platform. Save for the low flexibility offered in terms of deposit and withdrawal the exchange platform offers the needed flexibility investors and traders can benefit from to succeed in the cryptocurrency market.
Virtually everything has been said about the Bitexlive exchange platform and it now rests on you to decide if it worth a shot to make Bitexlive your trading partner in the cryptocurrency market. However, if you still want to learn more about the exchange platform, you can always visit the website to see the services and benefits offered up close
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