Bitcoin Empire Review – Is it Scam? – CFDs and Real Cryptos
Introduction
With the rise of cryptocurrencies, many trading platforms have emerged in the market. One of the latest platforms is Bitcoin Empire, a trading platform that claims to offer high returns on investment. However, with so many scams in the market, it is essential to analyze the platform and determine if it is genuine or not. In this article, we will review Bitcoin Empire, its features, and functionalities, and provide an honest opinion on whether it is a scam or not.
What is Bitcoin Empire?
Bitcoin Empire is an online trading platform that allows users to trade various cryptocurrencies. The platform offers to trade in Bitcoin, Ethereum, Litecoin, and other cryptocurrencies. It is advertised as a platform that provides high returns on investment and is easy to use.
The platform allows users to trade using CFDs (Contract for Difference), a financial derivative that enables users to speculate on the price movements of cryptocurrencies without owning the underlying assets.
How does Bitcoin Empire work?
Bitcoin Empire uses a trading mechanism that allows users to speculate on the price movements of cryptocurrencies. Users can trade using CFDs, which means they are not buying or selling the underlying asset but speculating on its price movements. Users can go long or short on the cryptocurrency, depending on their view of the market.
To start trading on Bitcoin Empire, users need to register on the platform and deposit funds into their account. The platform offers a range of payment options, including credit/debit cards, bank transfer, and e-wallets. Once the funds are deposited, users can start trading using the trading interface provided by Bitcoin Empire.
Is Bitcoin Empire Legit?
Bitcoin Empire claims to be a legitimate trading platform that is regulated by the Financial Conduct Authority (FCA) in the UK. However, upon further research, we found that there is no evidence to support this claim. The FCA does not regulate Bitcoin Empire, which raises concerns about the legitimacy of the platform.
Additionally, the platform's website does not provide any information about its founders or the team behind the platform, which is another red flag.
Bitcoin Empire Scam – What to Look Out For
There are several red flags that users should look out for when using Bitcoin Empire. Firstly, the platform claims to offer high returns on investment, which is a common tactic used by fraudulent platforms to lure users into investing their funds.
Secondly, the platform's website does not provide any information about its founders or the team behind the platform, which is another red flag.
Lastly, the platform claims to be regulated by the FCA, which is not true. Users should be cautious when using unregulated platforms as they are not protected by any regulatory body.
Bitcoin Empire CFDs vs. Real Cryptos
At Bitcoin Empire, users can trade using CFDs instead of owning the underlying asset. CFDs allow users to speculate on the price movements of cryptocurrencies without owning the asset. However, CFDs come with their own set of risks and advantages.
One advantage of using CFDs is that users can trade with leverage, meaning they can trade with more money than they have in their account. This can result in higher returns on investment. However, trading with leverage comes with higher risks as users can lose more money than they have in their account if the trade goes against them.
On the other hand, owning the underlying asset allows users to hold onto the cryptocurrency for the long term and benefit from any price appreciation. However, owning the asset comes with its own set of risks, including the risk of losing the asset due to theft or hacking.
Bitcoin Empire Reviews – What are People Saying?
Upon researching online reviews of Bitcoin Empire, we found mixed reviews. Some users reported making profits on the platform, while others reported losing their entire investment. Some users also reported issues with withdrawing their funds from the platform, which is a cause for concern.
Bitcoin Empire Alternatives
There are several cryptocurrency trading platforms available in the market, including Coinbase, Binance, and Kraken. These platforms have a good reputation and are regulated by regulatory bodies, which provides users with a sense of security.
Conclusion
Based on our research, we cannot recommend Bitcoin Empire as a legitimate trading platform. The platform has several red flags, including false claims about regulation and no information about its founders or team. Users should be cautious when using unregulated platforms and always research the platform before investing their funds.
FAQs
Is Bitcoin Empire safe to use?
Based on our research, we cannot recommend Bitcoin Empire as a safe trading platform.
How much money do I need to start trading on Bitcoin Empire?
The minimum deposit amount on Bitcoin Empire is $250.
Can I withdraw my money from Bitcoin Empire at any time?
There have been reports of users experiencing issues with withdrawing their funds from Bitcoin Empire. Users should research the platform before investing their funds.
Does Bitcoin Empire charge any fees?
Bitcoin Empire charges a 2% fee on all trades.
What cryptocurrencies can I trade on Bitcoin Empire?
Bitcoin Empire offers trading in Bitcoin, Ethereum, Litecoin, and other cryptocurrencies.
Does Bitcoin Empire offer leverage trading?
Yes, Bitcoin Empire offers leverage trading.
How long does it take to verify my account on Bitcoin Empire?
The verification process on Bitcoin Empire can take up to 24 hours.
What is the minimum deposit amount on Bitcoin Empire?
The minimum deposit amount on Bitcoin Empire is $250.
Can I trade on Bitcoin Empire from my mobile device?
Yes, Bitcoin Empire has a mobile app that allows users to trade on the platform from their mobile devices.
Is Bitcoin Empire available in my country?
Bitcoin Empire is available in most countries, but users should check with the platform to confirm availability in their country.