Bitsignal Review – Is it Scam? – CFDs and Real Cryptos
Introduction
In the world of cryptocurrencies, trading platforms are essential for investors and traders to buy and sell digital currencies. One such platform is Bitsignal. Bitsignal is a cryptocurrency trading platform that offers CFDs (Contracts for Difference) and real cryptos. In this article, we will review Bitsignal, its services, trading options, fees, and regulation to determine whether it is a scam or not.
Bitsignal: Company Background and Services
Bitsignal was founded in 2017 and is based in the United Kingdom. The platform is designed for both novice and experienced traders looking to invest in cryptocurrencies. Bitsignal offers a broad range of trading services, including CFDs and real cryptos, to its users. The platform is user-friendly, and users can access it from any device.
Advantages of using Bitsignal include a broad range of trading instruments, a user-friendly platform, and access to a demo account for beginners. However, it has some disadvantages, such as limited cryptocurrencies available.
CFDs – Contracts for Difference
CFDs are financial derivatives that allow traders to speculate on the price movement of an underlying asset without owning it. CFDs are a popular trading instrument because they allow investors to access a broader range of markets. CFD traders can also take advantage of leverage, which enables them to trade with a small amount of capital.
CFD trading works by the trader opening a position on an underlying asset and speculating on its price movement. The trader will then receive or pay the difference in price based on the direction of the trade when they close the position.
Advantages of trading CFDs include access to a broad range of markets, leverage, and the ability to go long or short. However, CFD trading also involves significant risks, including high leverage that can result in substantial losses.
Real Cryptos
Real cryptos are actual cryptocurrencies that traders can buy and sell on an exchange. Real cryptos offer traders ownership of the underlying asset and the ability to transfer the asset to a digital wallet. Real cryptos are not subject to leverage, and traders can only trade with the capital they have in their account.
Real cryptos differ from CFDs in that traders own the underlying asset. Traders can use real cryptos for day-to-day transactions, or they can hold them as a long-term investment.
Advantages of trading real cryptos include ownership of the underlying asset, the ability to store the asset in a digital wallet, and lower risks. However, trading real cryptos can be more expensive than trading CFDs, and traders are responsible for their security.
Bitsignal Platform
The Bitsignal platform is user-friendly and accessible from any device. The platform offers a broad range of trading instruments, including CFDs and real cryptos. The platform also offers a demo account for beginners to practice trading.
The platform's features include a trading chart, trading history, and market news. The platform also offers various tools to help traders analyze the market and make informed trading decisions.
The user interface is simple and easy to navigate. The platform is available in multiple languages, including English, Spanish, and German.
Trading Strategies on Bitsignal
Bitsignal offers various trading strategies, including day trading, swing trading, and long-term investing. Traders can use technical analysis tools to make informed trading decisions.
Tips for successful trading on Bitsignal include keeping up with market news, analyzing the market using technical analysis tools, and managing risk by using stop loss and take profit orders.
Security and Regulation
Bitsignal takes security seriously and uses advanced security measures to protect user data and funds. The platform uses SSL encryption to secure user data and two-factor authentication to secure user accounts. The platform also stores user funds in cold storage wallets, which are not connected to the internet.
Bitsignal is not regulated by any financial authority. However, it complies with anti-money laundering regulations and has measures in place to prevent fraud.
Customer Support
Bitsignal offers customer support via email and live chat. The response time is quick, and the support team is knowledgeable and helpful.
Fees and Charges
Bitsignal charges fees for trading CFDs and real cryptos. The platform charges a spread fee for CFDs and a commission fee for real cryptos. The platform does not charge any deposit or withdrawal fees.
Fees on Bitsignal are reasonable compared to other trading platforms. However, the fees for trading real cryptos are higher than the fees for trading CFDs.
Conclusion
In conclusion, Bitsignal is a legitimate cryptocurrency trading platform that offers a broad range of trading instruments, including CFDs and real cryptos. The platform is user-friendly, secure, and offers various tools and features to help traders make informed trading decisions. Although there are some disadvantages, such as limited cryptocurrencies available, we do not believe that Bitsignal is a scam.
FAQs
What is Bitsignal?
Bitsignal is a cryptocurrency trading platform that offers CFDs and real cryptos.
Is Bitsignal regulated?
No, Bitsignal is not regulated by any financial authority.
What are CFDs and how do they work?
CFDs are financial derivatives that allow traders to speculate on the price movement of an underlying asset without owning it. CFD traders can take advantage of leverage, which enables them to trade with a small amount of capital.
What are real cryptos and how do they differ from CFDs?
Real cryptos are actual cryptocurrencies that traders can buy and sell on an exchange. Real cryptos offer traders ownership of the underlying asset and the ability to transfer the asset to a digital wallet. Real cryptos are not subject to leverage, and traders can only trade with the capital they have in their account.
What are the advantages of trading on Bitsignal?
Advantages of trading on Bitsignal include a broad range of trading instruments, a user-friendly platform, and access to a demo account for beginners.
What are the disadvantages of trading on Bitsignal?
Disadvantages of trading on Bitsignal include limited cryptocurrencies available.
What trading strategies can I use on Bitsignal?
Traders can use various trading strategies, including day trading, swing trading, and long-term investing.
How do I contact customer support on Bitsignal?
Customer support is available via email and live chat.
What fees and charges should I expect when trading on Bitsignal?
Bitsignal charges a spread fee for CFDs and a commission fee for real cryptos. The platform does not charge any deposit or withdrawal fees.
Is Bitsignal a scam?
No, we do not believe that Bitsignal is a scam.