Bitvenus Crypto Exchange Review 2023 : Pros & Cons

What Is Crypto Exchange ?

A cryptocurrency exchange, sometimes known as a “crypto exchange,” is an online marketplace where users can buy, sell, and trade different cryptocurrencies for fiat money like US dollars, euros, and other traditional currencies.

These exchanges act as middlemen, enabling the trade of various cryptocurrencies among investors, businesses, and individuals.

Different trading pairings, or the combinations of cryptocurrencies that can be exchanged against one another, are available on cryptocurrency exchanges. For instance, trading between Bitcoin (BTC) and Ethereum (ETH) is possible.

A crypto exchange lets you purchase and sell cryptocurrencies, just like a stock market where you can buy and sell shares of various firms. These cryptocurrencies’ values can change depending on supply and demand in the market.

What Is Bitvenus Crypto Exchange ?

Founded in June 2018, BitVenus is a global professional cryptocurrency trading platform that provides users with diversified crypto derivatives trading services, and 7/24 customer service and high-quality user education. BitVenus Team has rich experience in the financial industry and blockchain technology.

Bitvenus Crypto Exchange Quick Facts

How To Register At Bitvenus Exchange?

To register on Bitvenus , click Register Now button at the top of the page. You can also start creating an account directly through the form on the main page.

You only need to enter your e-mail and come up with a password. If there is a referral code, it is also entered at this stage. Password requirements: at least 8 characters, numbers, upper and lower case.

Click ” Create Account ” then go to your email to verify it. Enter the code you received and registration is complete. You can start replenishing your account.

Bitvenus Exchange Supported Countries

Bitvenus Exchange is a cryptocurrency exchange that supports users from various countries around the world. However, the availability of services may vary depending on the location of the user.

Exceptions are the US, China, Japan and countries in the Middle East. Syria and North Korea are also countries whose nationals cannot trade on Bitvenus .

How To Verify Your Bitvenus Cryptocurrency Account ?

There is no mandatory verification at Bitvenus , but you can pass it if you wish. At the moment, the only restriction imposed on unverified users is the withdrawal limit of Free. In the future, depending on the actions of regulatory authorities, conditions may change.

For verification, you can use one of four documents to choose from: passport, driver’s license, identity card or residence permit. Artificial intelligence is used to evaluate the authenticity of documents. This service is provided by the Onfido online identification service, already used by the Bitvenus , Revolut platforms.

How To Buy Crypto Or Deposit Crypto At Bitvenus Crypto Exchange?

There are two main options for topping up your balance on Bitvenus . Firstly, you can buy cryptocurrency with a bank card – it’s fast and convenient. Go to the ” Buy crypto ” -> ” Buy crypto with a credit card ” section.

Choose a cryptocurrency (currently there are 13 coins available for purchase in this way). Enter the amount and select the fiat currency to be used for payment.

After that, you will need to select a payment channel: each of them has conditions. You can choose between Simplex, Mercuryo, Banxa and Moonpay. Click ” Buy ” next to the appropriate option.

Agree to the terms and confirm the transition to the site of the payment provider. Enter information about the card and its owner, confirm the transaction. Cryptocurrency will be credited to the exchange account within a few minutes.

Second Method

You can transfer digital assets to the balance of the exchange from any external crypto wallet. For this:

• Go to the “Deposit” section from the “Assets” menu.

• From the drop-down list, you can select the cryptocurrency you want to deposit into your account.
• The wallet address will appear. You need to copy it and send funds to it from another wallet or exchange. Please note that only bitcoin can be sent to bitcoin addresses, similarly with other coins.
• You can also click “Show QR code” – for transfers from a mobile wallet, this is a more convenient option.

How To Withdraw Crypto Asset From Bitvenus Exchange ?

Having completed all the necessary trading operations, it’s time to withdraw the received assets to an external wallet. Go to ” Assets ” -> ” Withdraw “. Please note that the operation is only available after enabling two-factor authentication in the settings. This is for added security and requires less than a minute, so don’t neglect this measure.

Select a cryptocurrency and enter the withdrawal amount. Each coin has its own withdrawal fee, for example, for BTC it is 0.00057 BTC. Click ” Output “. By default, the exchange processes applications three times a day, however, hourly withdrawals are available for Premium users. Also, the time of receipt of the cryptocurrency is affected by the workload of the blockchain network.

How To Secure Your Bitvenus Account ?

There are several steps you can take to help secure your Bitvenus account and protect your funds:

1. Strong Password: Make sure your Bitvenus account password is both strong and distinctive. A mix of capital and lowercase letters, numerals, and special characters should be used. Useless information like your name or birthdate should be avoided.
2. Two-Factor Authentication (2FA): Make your account two-factor authenticated. By requiring a second verification step, typically a code texted to your mobile device, this offers an additional degree of protection.
3. Secure Email: Ensure that your Bitvenus account’s related email address is also secure. Use two-factor authentication and a strong password for your email.
4. Avoid Phishing: Be on the lookout for phishing scams. Avoid opening attachments or clicking links in questionable emails, and only access Bitvenus through its legitimate website addresses.
5. Official Website : Use the official website URL to access Bitvenus at all times. Create a bookmark for the website to prevent manually entering the address and maybe making a mistake that could send you to a phishing site.
6. Be Cautious of Phishing Scams: Be wary of emails, messages, or phone calls that ask for your personal information or account details. Bitvenus will never ask you for your password or 2FA code. Always double-check the URL of the website you are logging in to and make sure it is the official Bitvenus website.
7. By taking these steps, you can help protect your Bitvenus account and reduce the risk of unauthorized access to your funds.

Fees taken when buying virtual currency

(1) Maker:  the order that is not executed immediately.

(2) Taker:  the commission to actively trade with the pending order will reduce the number of existing pending orders in the market.

The difference between Bitvenus contract fees on Maker and Taker:

(1) Maker: The fee rate is 0.04%, that is, the order that has not been executed immediately.

(2) Taker: The fee rate is 0.06%, that is, the commission to actively trade with the pending order will reduce the number of existing pending orders in the market, reduce the market depth, and will pay a little more handling fee.

Trade On Go Bitvenus Is 100% Mobile Friendly

Bitvenus exchange has a mobile application that is available for both iOS and Android devices. The mobile application allows users to access the exchange’s services, including buying and selling cryptocurrencies, managing their accounts, and tracking their trading activities on the go.

How To Contact Bitvenus Customer Support Team?

If you need help with your Bitvenus account or have any questions, you can contact Bitvenus customer support through the following methods:

Check out the official website: Look for Bitvenus’ official website. The “Contact Us” or “Support” section of the website typically contains instructions on how to get in touch with the customer service department.

Search Engines: Try typing in “Bitvenus customer support” in well-known search engines if you can’t find the official website or contact information on the website. You might follow this link to find forums, articles, or directory listings with contact information.

Social media: See if Bitvenus has a profile on any of the major networks, including Facebook, Twitter, and LinkedIn. Through these platforms, businesses occasionally offer support as well.

Email: If you uncover a customer service email address that is legitimate, you can write an email outlining your question or problem.

Phone: Check the website for a phone number for customer service. You can phone them directly if they are reachable.

No matter which method you choose, be sure to provide as much detail as possible about your issue or question so that Bitvenus customer support can assist you efficiently.

Features Of Bitvenus Crypto Exchange

Financial-grade security

0 security incidents, there are dozens of financial-level control mechanisms in product, technology, system monitoring and other aspects to ensure the safety of your assets

Stable and reliable technology

Stable and efficient distributed matching engine, the TPS of the whole process reaches 50,000, and the transaction delay is only 1 millisecond

Trusted by global users

Since the start of globalization in June 2021, users of Bitvenus have covered more than 100 countries and regions around the world, and Bitvenus has become one of the most popular trading platforms in Europe, Asia, America, North Africa and other markets.

Start Trading Anytime, Anywhere

Place orders instantly, and enjoy the most extraodinary trading experience both on BitVenus APP and website.

Cryptocurrency Supported

Determine whether the exchange accepts the cryptocurrency you want to trade. There may be more coins and tokens accessible on some exchanges than on others.

Trading Fees

Examine the maker and taker fees included in the trading charge structure. Some exchanges provide high-volume dealers with lower costs.

Customer Support

Customer service is crucial if you run into any problems while trading or utilizing the site. It must be dependable and quick to respond.

Regulation and Compliance

Check to see if the exchange complies with any applicable laws in the country where it is operating. Exchanges that are governed typically offer an additional level of security.

Bitvenus Good Or Bad Points

Bitvenus is a cryptocurrency exchange that allows users to buy and sell various cryptocurrencies. Here are some potential good and bad points of using Bitvenus :

Good points:

1. Security: A trustworthy exchange should place a high priority on security, including techniques like two-factor authentication (2FA), cold storage for the majority of cash, frequent security audits, and cutting-edge encryption algorithms.
2. User Interface and Experience: Trading and asset management can be made easier and more convenient with a user-friendly interface and simple navigation.
3. Supported Cryptocurrencies: For traders searching for a variety of investment alternatives, Bitvenus may be useful if it provides a large selection of cryptocurrencies.
4. Customer support: In order to address any problems or inquiries users may have, quick and helpful customer service may be essential.
5. Regulation and compliance: An exchange that is regulated and complies with applicable rules and regulations can add an extra layer of security and trust.

Bad points:

1. Lack of Security Measures: If an exchange does not have strong security features, your funds may be vulnerable to cyberattacks and breaches.
2. Opaque Ownership: If there is a lack of openness regarding the team and ownership of the exchange, this may cast doubt on the exchange’s reliability.
3. Poor Reviews and Reputation : Negative user evaluations and a poor reputation within the cryptocurrency community can serve as red flags for possible problems.
4. Unreasonable Fees: Trading might become less profitable if there are high trading fees or other hidden costs.
5. Lack of Regulation: The exchange and its users may be subject to legal and financial risks if they operate in a legal gray area or if applicable regulations are not followed.

Is Bitvenus Is Safe Platform To Trade ?

Verify that Bitvenus is subject to recognized financial authorities’ regulation and licensing. A trading platform gains additional credibility and accountability from regulatory scrutiny. Check out the opinions and comments of other traders who have used Bitvenus. Watch out for evaluations that are excessively complimentary or negative and attempt to obtain a balanced viewpoint.

Make that the platform has robust security mechanisms in place, including two-factor authentication (2FA), encryption, and cold storage for cryptocurrency. Review the terms of service, withdrawal rules, and fee schedule for the platform. Verify that there are no unfavorable terms or hidden charges.

Check the customer service’s responsiveness and level of excellence. Any difficulties should be promptly resolved by a trustworthy platform. Verify the platform’s user-friendliness and intuitiveness. Interfaces that are difficult to understand or navigate can cause errors when trading.

In summary, Bitvenus has taken several measures to enhance security, but it’s still important to be cautious and do your due diligence before trading on any platform.

Bitvenus Conclusion

BitVenus adheres to the principle of “compliance operation, service first”. Based on global operation, we have successively established localized communities and volunteer organizations in the United Kingdom, France, Japan, Morocco, Singapore, Malaysia, Turkey, Russia and other countries/regions. By building a localized community ecosystem to provide global users with compliant, regionalized, and diversified cryptocurrency trading services.

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