The cryptocurrency exchange Bithoven launched Margin Trading services for users on its platform. The decision to launch the margin trading feature came after numerous requests from traders and users that wanted to improve their trading strategies and maximize their profits.
New Margin Trading Services For Bithoven Users
The cryptocurrency exchange Bithoven is committed to offering new solutions for individuals trading on their platform. With a growing crypto market and a more competitive landscape, the firm decided to launch new margin trading services for traders using their exchange.
Users trading on this platform will have the possibility to use many different features, including the MetaTrader 5, that offers an unlimited number of charts, timeframes, market depth and more. With the latest addition of margin trading, users will be able to use 1:20 leverage in order to trade digital assets.
That means that those individuals that deposit 0.1 BTC would be able to trade with 2 BTC using 20x leverage, the maximum ratio allowed for margin trading. Although this provides users with the possibility to have larger profits, there is a larger risk involved. The cryptocurrency market is very volatile and virtual currencies can fluctuate abruptly in just a few minutes or hours.
So as to better understand how this tool works, users can open a free Demo margin trading account that would allow them to test the new services and help them understand how they can improve their trading experience with it. This is a great option for newcomers or users that do not feel safe trading with leverage and want to try this feature with zero risk.
It is worth mentioning that the exchange is going to be using Bitcoin as the nominal cryptocurrency. Additionally, the new services are available on all the platforms created by the exchange, including web, desktop and mobile. This is a very interesting aspect of the platform, many other exchanges do not offer the same trading experience in different devices.
There are 14 different trading pairs to trade using margin. These pairs are the following: BTC/USD, ETH/USD, LTC/USD, XMR/USD, BCH/USD, ZEC/USD, DASH/USD, XRP/USD, EOS/USD, BCH/BTC, DASH/BTC, ETH/BTC, XMR/BTC and ZEC/BTC. All these digital assets are among the top 25, according to CoinMarketCap.
It is worth pointing out is that there are no maximum trading limits for margin trading on the platform. This is good for traders with large sums of money that want to increase their position in some of the aforementioned trading pairs. Compared to other exchanges, Bithoven allows the use of trading robots/expert advisors, making the whole experience more fluent.
Finally, the exchange is also at the forefront of customer services in the industry. Indeed, users that need help or have questions about these new services or any other feature at the exchange can contact the customer service that is operating 24/7.
As mentioned before, trading with leverage should be done responsibly and knowing that although there could be larger profits, there are also more risks involved in this activity.
At the moment, the margin trading services are not available to customers in the United States.