In this point, Bitvestment rather shows itself as a specialist for the exchange and trading of cryptocurrencies. Overall, the exchange does not offer a particularly large number of currencies for trading, but it does include some special coins such as OmiseGO or IOTA. At the time of our test, Bitvestment is the only exchange for cryptocurrencies that allows trading IOTA. The liquidity was always excellent during our test trades, so our editorial team has been using the exchange privately to buy and sell cryptocurrencies for some time now.
Learn more about this topic here: https://www.indexuniverse.eu/bitvestment-review/
The tradable coins currently include:
- Bitcoin Cash
- Ethereum Classic
The fees at the cryptocoin exchange Bitvestment
Our test verdict in the fees section can be extremely positive for the Bitvestment cryptocoin exchange. This is due to the fact that Bitvestment fees are extremely low, if we draw a direct comparison with the other exchanges that are otherwise active on the market. Staggered according to trading volume and also according to whether they are so-called “takers” or “makers”, the fees range between 0.02 and 0.20 percent. Those who trade a volume of 7.5 million dollars or more as a maker do not have to pay any fees at all. So, in the worst case, fees of 0.20 percent are charged, which is still a very favorable value compared to most other cryptocoin exchanges.
In addition to the trading fees, there is another cost factor that comes into play when deposits or withdrawals are to be made. Namely, these cause a fee of 0.1 percent by means of standard bank transfer, although a minimum of 20 US dollars has to be taken into account. However, deposits and withdrawals of Bitcoins or Litecoins are free of charge.
Security through offline wallets and other factors
An important point of comparison in our reviews is the security provided by the respective cryptocoin exchanges. Some traders are likely to attach particular importance to this with the cryptocoin exchange Bitvestment, because in August 2016, there was a hacker attack in which around 120,000 Bitcoins were stolen. At the time, these had a total value of around 72 million US dollars. At the latest after this unpleasant incident, Bitvestment has once again massively tightened its security regulations and precautions. The security concept starts with the classic two-factor authentication, which has become almost standard among cryptocoin exchanges. Thus, the customer needs both a signin and a confirmation key to access his account. Encryption again takes place for both the sign-in key and the confirmation key. In order for alternative coins or bitcoins to be traded, an ID verification is performed. This also authorized the cryptocoin exchange Bitvestment to possibly demand additional documents. Thus, it is a total of at least the following data and documents that must be presented for a complete identification:
- Personal data
- ID confirmation
- Proof of residence
- Bank statement
- Signed statement as confirmation of documents