Table of Contents
How Much Do Know About BitSeven?
BitSeven is an advanced cryptocurrency trading platform where you can trade or exchange or leverage various cryptocurrencies like LitCoins, BitCoins, Ethereum, etc. BitSeven is founded by Malik Amurlayew, a web developer in a profession on 10th March 2017. The executive board of the company BitSeven Global Trading Limited controls BitttSeven. BitSeven has 3 Headquarters located in Belize City (Belize), Tsim Sha Tsui in Hong Kong (Japan), and Zurich (Switzerland).
How Much Safer Is BitSeven?
When someone wants to open a trading account, safety concern is always their priority. So no need to worry as BitSeven operations come under the regulations of the respective countries wherever it operates. Till now there is no regulatory complaint.
Which Countries Allow BitSeven?
You will find BiteSeven available worldwide freely. Till now there are no restrictions on its services in any country.
How Many Users Are There?
Considering that it was launched 3 years ago, BitSeven has more than 200,000 users which shows it’s popular.
How Many Cryptocurrencies Can You Trade?
Litcoin, Bitcoin, Ethereum, and Ripple are a total of four cryptocurrencies that you can trade with BitSeven.
How Does BitSeven Earn?
BitSeven earns from the transaction fees charged on each orders a user book. BitSeven also earns from the withdrawal charges of BTC which is a little high (0.001BTC).
How To Make An Account On BitSeven?
- Browse to the official website which is BitSeven.com.
- Press the Sign Up option.
- The website will ask for your full name, email id, mobile number, and your desired strong password. Fill those.
- After the registration is completed, BitSeven will send you the verification mail in your given email id.
- Once you confirm that mail, your account is made thus you can log in from there.
How Much Minimum Stake Do You Need For Trading On BitSeven?
The minimum stake you need for trading on BitSeven is 0.001 BTC but in this minimum stake, you don’t get much margin for protecting leveraged trades.
What Are The Leverage Charges In BitSeven & How Does Leverage Work?
BTC/USD- 1:100
ETH/USD- 1:50
LTC/USD- 1:40
XRP/USD- 1:30
If a user has a very limited amount for trading then here leverage will help by providing them a loan which will act as a higher trading power while entering the market. It is just like a bank loan. If the value of the trade moves against the trader’s position, the amount will be reduced from the available margin of the trading stock. If the margin is fully exhausted, then the trader’s position will be liquidated before the loss and the broker will recover the loan.
How Will You Deposit BTC From A Different BTC Wallet To Your BitSeven Account?
Do not worry much as BitSeven uses a multi-signature address in its BTC wallet which allows you to deposit BTC from a different wallet to the BitSeven account after specifying the transaction data. Funds will be shown in your account after the deposit is confirmed.
What Do You Mean By Anti-Liquidation On BitSeven?
If the price goes against the user then he can expand its available margin by ordering a new order for the same target with the help of a tool called anti-liquidation.
How To Long/Short Trade On BitSeven?
Enter the leveraged trading menu and then on right of the menu, you will see orders, and there two options will appear: Buy and Sell. If your analysis shows that the price of the trade will increase then put at buy order which is a long trade. But if your analysis shows that the price of the trade will fall then put at sell order which is a short trade.
How Will You Set A Stop-Loss On BitSeven?
This will disappoint you to know that BitSeven does not offer any stop-loss function. Thus you need to manually square off the positions.
For How Many Days Or Hours You Can Hold The Position On BitSeven?
If your trade has not reached its target within 10 days or 240 hours then automatically your position will be closed.
How Much BitSeven Charges As Trading Fees?
Each cryptocurrency has different transaction fees.
LTC: 0.193%
BTC: 0.075%
ETH: 0.151%
XRP: 0.195%
Is There Any Mobile App For BitSeven?
Once again to disappoint you that BitSeven does not offer any mobile app service neither in android nor in IOS. Although you can open the website in any mobile web browser.
What If You Want To Close Your BitSeven Account?
Well for that you need to contact the customer support service and raise your case because there is no direct option for deleting your account on the BitSeven platform.
No Comments